OAKS, Pa. - SEI Investments Inc. has been hired to manage $211 million of defined benefit pension plan assets for the Operating Engineers, Local 513 of Missouri.
The pension fund is to be managed through the company's "manager of managers" program. SEI is to select outside investment firms that specialize in specific asset classes and styles to handle the account. The union's assets probably will be invested in a portfolio that includes domestic equity and fixed-income mutual funds, the company said.
SEI, which has $69 billion of assets under management, sells investment services to financial executives, pension plans, and investment advisers.