SEI Investments hired Alliance Capital to subadvise the SEI Emerging Markets Equity portfolio, replacing Schroder Investment Management. Schroder was terminated because of organizational changes at the firm, said Nancy Kimelman, SEI chief economist.
Separately, SEI hired Fischer Francis Trees & Watts to subadvise the SEI International Fixed Income portfolio, said Ms. Kimelman. Previous subadviser Strategic Fixed Income was terminated for performance, she said. The termination was due to a difference in point of view about the asset class, said Ken Windheim, spokesman for Strategic Fixed Income.