News in brief: SEI scoops $135m mandate

SEI Investments has won a $135m (€152.8m) investment management mandate from the pension fund of Maryland-based McCormick, the spice and seasoning company.

SEI will oversee the fund's defined benefit assets and a supplemental employee retirement plan. The investment manager will act as a manager-of-managers and allocate assets to a number of style-specific portfolio managers. It is not known who previously ran the mandate.

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