Independence Investments Advises New SEI-Managed Collective Funds

SEI offers three new funds to defined contribution and defined benefit retirement plans, sub-advised by Independence Investments LLC.

Introduced in June, the Independence Fundamental Mid-Cap Collective Fund and the Independence Amplified Alpha Collective Fund are versions of existing separate account investment strategies that Independence has been managing for many years. The approach is a long-only concentrated “’best ideas’’ U.S. equity strategy blending proprietary techniques and public information on institutional holdings.

A news release said the funds offered to have initial investors in three Rhode Island retirement plans.

The collective funds are part of the Convergent Capital Institutional Master Trust, maintained and managed by SEI Trust Company, which also serves as trustee. SEI Trust Company is a wholly owned subsidiary of SEI Investments Co. Independence is an affiliate of Convergent Capital Management LLC, a Chicago-based multi-boutique asset management holding company.