SEI, the US-headquartered financial and wealth management solutions provider, has reported that its flagship UK goals-based portfolios have hit £1 billion ($1.5 billion) in assets under management.

Launched in February 2010, the SEI Strategic Portfolios are a suite of seven risk-rated, multi-asset funds underpinned by a manager-of-manager investment structure, the firm said in a statement.

The portfolios range from defensive to aggressive and are split into stability-focused and growth-focused categories.

"The fact that the portfolios have hit £1 billion in assets under management in just three years clearly shows there is strong demand for a compelling and differentiated outsourcing solution in the post-RDR world. Indeed, we are confident that assets will continue to grow as advisors increasingly recognise that goals-based investing can deliver both in terms of performance and risk management," said Kevin Addison, head of asset management distribution at SEI for the UK and Europe.

As of 31 March 2013, SEI currently manages $495 billion in mutual fund and pooled or separately managed assets, including $206 billion in assets under management and $289 billion in client assets under administration.