SEI Selected by Accessor Capital Management to Administer Accessor Funds
Newest Client Recently Named Lipper Small Fund Family of the Year
OAKS, Pa., May 8 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC), a leading global provider of outsourced asset management, investment processing and investment operations solutions, today announced that it has been selected by Accessor Capital Management to provide mutual fund administration, accounting, distribution and compliance services for the firm's Accessor Funds. The funds were recently recognized by Lipper as the "Best Overall Fund Family (Small)." The deal marks an ongoing outsourcing trend, as fund families continue to align with outsourcing partners in an effort to focus on their core business offerings.
Under the agreement, SEI will administer Accessor's 16 mutual funds representing more than $3 billion in assets. In addition to fund accounting, administration, marketing, distribution and compliance services, SEI will provide an outsourced wholesaling solution for the Accessor Funds. SEI was selected following a rigorous due diligence process involving several providers. The firm's innovative technology, focus on risk reduction and automation around core processes, were pointed to as key differentiators in the selection process. SEI's compliance culture and expertise also played a critical role in the decision.
"SEI stood out throughout this process with an unmatched combination of technology, resources, compliance and distribution expertise and deep experience," said Tony Whatley, President of Accessor Capital Management. "They are a leader in the outsourcing business and they showed us why at every turn. It's comforting to know that we have a trusted partner that will service our funds at the highest level and let us focus on growing our business."
"Accessor has a tremendous family of funds and we are pleased to add them as a client," said John Alshefski, Head of Business Development for SEI's Investment Manager Services division. "Our full suite of outsourcing services enables a firm like Accessor to remain focused on their core competencies. We're looking forward to a successful, long-term relationship."
About SEI's Investment Manager Services Division
SEI's Investment Manager Services division provides total operations outsourcing solutions to investment managers focused on mutual funds, hedge and private equity funds, separately managed accounts and institutional client services. The division applies operating services, technologies, and business and regulatory knowledge to each client's business objectives. Its resources enable clients to meet the demands of the marketplace and sharpen business strategies by focusing on their core competencies.
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 March 31, 2007, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $382.4 billion in mutual fund and pooled assets and manages $190.0 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 www.seic.com.
Accessor Capital Management was awarded "Best Overall Fund Family (Small)" among other small fund groups, defined as fund families with at least three equity, three bond, and three mixed asset funds for the period ending Dec. 31, 2006. Accessor competed with 20 other eligible fund families to win the award. Lipper determined the small fund group awards by the lowest average decile ranking of its respective asset class results. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the information contained herein, the accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee, or representation made by Lipper. This is not an offer to buy or sell securities. Past performance does not guarantee future results. Investing involves risk, including possible loss of principal.
Accessor Funds are distributed by SEI Investments Distribution Co.
Carefully consider the funds' investment objectives, risks, charges and expenses. This and other information is contained in the prospectus. To obtain a prospectus, contact Accessor Funds at 800.882.9612, P.O. Box 1748, Seattle, WA 98111, or visit www.accessor.com. Please read the prospectus carefully before investing.
Contact: Dana Grosser Jason Rocker
Company: SEI Braithwaite Communications
Voice: 610-676-2459 215-564-3200 x 10
E-mail dgrosser@seic.com jrocker@braithwaitepr.com
SOURCE SEI
Released May 8, 2007