Philadelphia asset manager SEI Investments has been selected to oversee the $80 million pension plan of a British garment and laundry firm, it was announced this week.

Davis Service Group offered SEI, which oversees $74 billion in assets and has offices in Europe, the $80 million Global Equities mandate after a year-long screening process.

Davis was attracted to SEI’s manager-of-managers methods, which it saw as a good way to minimize volatility in the portfolios of its employees, said Roger Dye, Davis’ financial director. "It takes away the risk involved in choosing a single manager who may end up under-performing," he said in a statement.

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