SEI Adds $450 Million in Nonprofit Institutional Assets in First Half of Year
Growth Signals Continued Nonprofit Investment Outsourcing Trend
OAKS, Pa., Aug. 9 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC) today announced that the company received commitments from nine new nonprofit clients, adding $450 million in new foundation and endowment assets under management in the first half of 2007. Among SEI's new North American nonprofit clients are Jewish Federation of San Antonio, Jewish Community Foundation of Southern Arizona, Southwest Florida Community Foundation, The Orchard School and The Sir Mortimer B. Davis Jewish General Hospital Foundation. In the past 18 months, SEI has added 22 new nonprofit clients and close to $1.5 billion in new nonprofit assets under management, further validating the ongoing investment management outsourcing trend among larger nonprofit organizations.
"Nonprofit investment committees continue to realize the value that a partner like SEI can bring towards helping their organization achieve their investment goals and overall mission," said Carolyn McLaurin, Vice President and Managing Director of SEI's Nonprofit Group. "This growth is a clear indication that committees understand the benefits of outsourcing manager selection in an effort to allow them to focus more on strategic investment decisions and oversight."
SEI's nonprofit business continues to expand as the organization now has over 100 nonprofit institutional clients and $5.5 billion in nonprofit institutional assets under management. One factor influencing SEI's growth is the emerging outsourcing trend among investment committees for larger nonprofit organizations. In the past 18 months, four new clients each outsourced more than $150 million in assets to SEI.
SEI's new nonprofit clients pointed to several key differentiators in the decision-making process, including the company's successful track record in helping a variety of nonprofit organizations including community foundations and educational institutions. Additional differentiators included SEI's customized solutions designed to provide additional fiduciary protection, increased diversification, access to global investment products and research and strategic advice aligned with clients' objectives.
About SEI's Institutional Group
SEI's Institutional Group delivers integrated nonprofit, healthcare and retirement solutions to over 490 global institutional clients in seven different countries (320 of which are U.S. institutional clients). SEI enables clients to meet financial objectives, reduce business risk, and fulfill their due diligence requirements through strategic advice integrated with Manager of Managers investment solutions for endowments, foundations, defined benefit plans, defined contribution plans and other balance sheet assets. For more information, visit http://www.seic.com/institutions.
About SEI
SEI (Nasdaq:SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of June 30, 2007, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $407 billion in mutual fund and pooled assets and manages $199 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from more than 20 offices in over a dozen countries. For more information, visit http://www.seic.com.
Contact:
Frank Wilkinson Jason Rocker
SEI Investments Braithwaite Communications
610-676-1483 215-564-3200 x 110
fwilkinson@seic.com jrocker@braithwaitepr.com
SOURCE SEI
Released August 9, 2007