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FLORIDA STATE BOARD OF ADMINISTRATION ADOPTS BROADER MONEY MANAGER EVALUATION SYSTEM

 TALLAHASSEE, Fla., May 27 /PRNewswire/ -- The $33 billion Florida State Board of Administration (SBA) today announced the adoption of a broader evaluation system in its searches for domestic equity money managers.
 Designed by SEI Capital Resources, in conjunction with the Florida SBA, the new system also eliminates the need for preliminary marketing contact between prospective money managers and the State of Florida for domestic equity business.
 "In the past, we had set up artificial barriers -- such as minimum amounts of money to be placed with any one money manager or history of their investment process -- that eliminated many outstanding money managers from consideration," said W.O. Bell, chief of management policy of the Florida SBA. "The new SEI system focuses on equity performance evaluation and money management style and greatly expands the State of Florida's ability to tap the best of the nation's money managers."
 This system will permit any manager with verifiable historical return data to be included in the selection process and to actively compete for Florida's business. Historical return patterns of the managers will be a strong initial criterion used in the evaluation process. Under the previous guidelines many of these managers could have been excluded.
 SEI's Capital Placements Research Group located in Chicago will be responsible for maintaining, monitoring and updating the system. SEI will accumulate the data from various sources, including industry publications, consultants and investment managers. This database will be available to Florida for its search activity.
 "The additional tool will be a nice complement to SEI's traditional manager search process," said Dave O'Donovan, senior vice president of SEI's Capital Placements Research. "What is unique is that the new system will allow for initial consideration of virtually all domestic equity managers."
 Any manager currently included in the SEI database will automatically be included in Florida's domestic equity search process. Any other manager interested in being included in the Florida process should send their organization's name, the name of a contact person, telephone number and mailing address to fax number, 312-220-9239. Managers that need additional information about the Florida process should contact Jim Wallace or Carl Deane at SEI Capital Resources in Atlanta at 404-431-6360. Investment managers should not contact the State of Florida directly.
 Serving more than 1,250 North American clients with assets totaling more than $670 billion, SEI Capital Resources is the leading provider of asset management consulting services to a wide variety of institutional clients in the U.S. and Canada, and is a unit of SEI Corporation (NASDAQ: SEIC).
 -0- 5/27/93
 /CONTACT: Paige West of SEI Corporation, 215-254-2276, or Peter Cullum of Donley Communications, 212-751-6126, for SEI Corporation/
 (SEIC)


CO: SEI Corporation ST: Florida, Georgia IN: FIN SU:

SM -- NY033 -- 3690 05/27/93 10:25 EDT
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Publication:PR Newswire
Date:May 27, 1993
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