Foster Denovo has appointed State Steet Global Advisors (SSGA) to manage an additional two Sequel funds, doubling the number of funds the asset manager oversees since its initial mandate in 2023.

The wealth advisory group’s open-ended investment company (OEIC) investment division, which has brought the Sequel fund range to more than £250m, chose SSGA to oversee the Sequel Cautious and Balanced Target Return funds.

Alongside these, SSGA already manages Foster Denovo’s World Equity and Real Assets Diversified funds, which it has run since 2023.

Sequel’s funds are part of a wider portfolio within Foster Denovo, managing £1.7bn of assets and serving the group’s private wealth and corporate advisory clients.

“SSGA has been managing two funds for us, and this is the logical next step,” stated Foster Denovo head of investments, Chris Thomas.

“Clients will benefit from the global reach and institutional sophistication their team can draw on. We look forward to them delivering on this latest mandate.”

SSGA head of portfolio management for the Investment Solutions Group in EMEA, Frédéric Dodard, commented: “With our broad multi-asset expertise, across tactical asset allocation and fund selection, SSGA has been supporting our clients to achieve their investment goals for decades.

“We are pleased to expand our collaboration with Foster Denovo and Sequel, as this underpins our commitment to delivering innovative client-specific solutions and strategies to the wealth sector in the UK.”

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