SEI Investments hired Ashmore Investment Management as part of its emerging markets equities manager-of-managers program, confirmed Larry Wexler, an SEI spokesman. Assets in the program are benchmarked to the MSCI Emerging Markets index. Mr. Wexler declined to say how much Ashmore is managing.
Mark Weiller, a director of Ashmore responsible for the firm's activities in the Americas, declined to provide details but did say the firm is "seeing a lot of demand, and we're being considered for quite a few mandates" in the emerging markets equity class.
Ashmore has $14 billion in assets under management, and Mr. Weiller said the firm could reach $3 billion to $4 billion in emerging markets equities before reaching capacity.
Ashmore now runs a $600 million emerging markets debt portfolio for SEI.