SEI Adds $2.8 Billion in New Institutional Assets in First Quarter of 2012
New Business Fueled by Growing Demand for Investment Outsourcing
OAKS, PA -- (Marketwire) -- 05/02/12 -- SEI (NASDAQ: SEIC) today announced strong global institutional sales for the first quarter of 2012, resulting in seven new clients and $2.8 billion in new assets under management. Since the start of 2011, SEI has added more than 40 new institutional clients and over $7.5 billion in new global assets under management. This new business validates an increasing global interest in fiduciary management services among institutional investors. Among SEI's new institutional clients are Pirelli North America Inc., New Covenant Funds, The Miami Foundation, Direct Relief International, Chemtura Corporation, and Albion Automotive (U.K.).
"Institutional investors are no longer interested in partners who only provide recommendations or take on limited fiduciary responsibility," said Edward Loughlin, Executive Vice President, SEI and head of SEI's Institutional Group. "SEI's sales growth supports increased market demand for outsourced investment providers who take on significant accountability and investment discretion on behalf of clients. As more providers attempt to begin offering these services, SEI's 20-year track record and core resource model rooted in fiduciary management positions us well to continue to grow our global institutional business."
SEI's new assets under management include those of retirement plans, healthcare operating pools, endowments, and foundations. New clients pointed to several key differentiators in selecting SEI, including the flexibility of the company's outsourced fiduciary management solution to fit each client's needs and both short- and long-term goals, as well as its time-tested, proven process for discretionary decision-making. As a fiduciary partner, SEI has the ability to assume full discretionary responsibility and accountability for building investment portfolios, making manager changes, and performing ongoing oversight, thereby allowing clients to focus on their more critical strategic decisions.
"Outsourcing has quickly become the preferred investment management model for many institutional investors because it provides a much more timely and flexible approach in dealing with today's investment volatility," said Paul Klauder, Vice President and Managing Director, SEI's Institutional Group. "Interest in SEI's fiduciary management solution continues to increase across all markets as it supplies a highly customizable option for clients."
About SEI's Institutional Group
SEI's Institutional Group is the first and largest global provider of outsourced fiduciary management investment services. The company began offering these services in 1992 and today acts as a fiduciary manager to approximately 450 retirement, nonprofit and healthcare clients in six different countries. Through a flexible model designed to help our clients achieve financial goals, we provide asset allocation advice and modeling, investment management, risk monitoring and stress testing, active liability-focused investing and integrated goals-based reporting. For more information visit: http://www.seic.com/institutions.
About SEI
SEI (NASDAQ: SEIC) is a leading global provider of investment processing, fund processing, and investment management business outsourcing solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of March 31, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $428 billion in mutual fund and pooled or separately managed assets, including $189 billion in assets under management and $239 billion in client assets under administration. For more information, visit www.seic.com.
Company Contact: Laura Edling SEI +1 610-676-3827 ledling@seic.com
Source: SEI
Released May 2, 2012