SEI hired Henderson Global Investors to subadvise $150 million in a concentrated unconstrained global equity portfolio, said Jim McWhinney, managing director of global investment communications at SEI.
Henderson will replace Wellington Management. It was not performance related and Wellington “remains in good standing,” Mr. McWhinney said.
“This is a routine manager change,” Mr. McWhinney said in a telephone interview. “SEI is tightening up mandates.”