SEI added Robeco Institutional Asset Management as one of the subadvisers of its $1.4 billion SEI Institutional Investments Trust Emerging Markets Equity Fund.
Robeco replaced AllianceBernstein, a spokeswoman confirmed. SEI removed AllianceBernstein's frontier emerging markets equity strategy as part of an effort to reduce beta within the fund. Robeco's strategy, meanwhile, is "highly concentrated and has high active share, which we believe will benefit the fund and complement its manager lineup," she said.
AllianceBernstein continues as a subadviser in other SEI funds, she noted.
SEI Institutional Investments Trust Emerging Markets Equity Fund's other subadvisers are Causeway Capital Management, J O Hambro Capital Management, KBI Global Investors (North America), RWC Asset Advisors and WCM Investment Management.