SEI Investments in Europe has partnered with Ireland-based Canada Life Assurance to offer in the Irish market a fund meant to provide long-term capital growth with a moderate growth in income by investing 70% in top tier equity funds and 30% in top tier fixed income funds.
This first product is called the SEI/Canada Life Global Balanced Fund.
SEI, with $138.5 billion under management, is responsible for portfolio structure, manager selection, manager evaluation and manager replacements across each portfolio.
SEI claims that its Manager-of-Managers model allows financial advisers to improve their overall business, on the premise that a new breed of investor is emerging that is demanding a greater level of advice and more sophisticated investment products.
“Our alliance with Canada Life marks our launch into the Manager-of-Managers market in Ireland,” said Ryan Hicke, head of SEI Investments’ business solutions channel. “As Europe’s fastest growing economy, we believe that Ireland represents a huge opportunity for SEI Europe and our alliance with Canada Life will allow us to work together to target and fulfill the unmet wealth management needs that exist today.”