Turnkey Operational Platform Supports Asset
Managers' and Plan Sponsors' Unique Demands
OAKS,
Pa., Feb. 6, 2024 /PRNewswire/ -- As European
and global asset managers increasingly embrace CITs,
SEI® (NASDAQ:SEIC) today announced that SEI
Trust Company will serve as trustee for four collective investment
trusts (CITs) established by Pictet Asset Management in the U.S.
institutional retirement market. Pictet Asset Management is one of
Europe's leading active asset
management brands. With a heritage stretching over 200 years,
Pictet manages USD $237 billion in
distinctive strategies globally.
Asset managers like Pictet Asset Management are utilizing CITs
to attract new capital and increase their distribution efforts in
the U.S. retirement market. While low cost is often considered the
primary driver of CITs' rising popularity among U.S. retirement
plan sponsors, CITs' other key benefits include investment
flexibility, increased availability, transparency, and the ability
to reduce account minimums.
John Alshefski, Senior Vice
President and Managing Director of SEI's Traditional
Investment Managers business, said:
"Asset managers are enhancing distribution by launching multiple
share classes in various asset classes and investment strategies.
Our established turnkey operational platform and experienced,
professional team of experts enable global investment managers,
retirement plans, consultants, and advisors an efficient way to
gain access to SEI's extensive CIT lineup. We're excited to welcome
Pictet Asset Management to SEI and look forward to servicing and
supporting their CIT business."
The four CITs launched by Pictet Asset Management include:
- Pictet Clean Energy Transition CIT
- Pictet EM Blend CIT
- Pictet EM Local Currency Debt CIT
- Pictet EM Hard Currency Debt CIT
Elizabeth Dillon, CEO of
Pictet Asset Management (USA), added:
"We are excited to offer U.S. institutions the opportunity to
access proven Pictet Asset Management strategies that were
previously only available to the largest institutions via mandates.
Establishing CIT vehicles further reinforces our commitment to the
U.S. institutional market."
Bryan Astheimer, Head of SEI's
Investment Managers business for the U.K. and European regions,
said:
"SEI is uniquely positioned to provide global managers with the
expertise and access to our breadth of capabilities, enabling them
to meet international distribution goals. Our relationship with
Pictet Asset Management reflects our commitment to the global
market, and we look forward to working with them to drive future
growth."
With more than 30 years of expertise servicing CITs, SEI's
turnkey operational platform and its team of dedicated
professionals support asset managers' and plan sponsors' unique
demands.
About SEI®
SEI (NASDAQ:SEIC) delivers
technology and investment solutions that connect the financial
services industry. With capabilities across investment processing,
operations, and asset management, SEI works with corporations,
financial institutions and professionals, and ultra-high-net-worth
families to help drive growth, make confident decisions, and
protect futures. As of Dec. 31, 2023,
SEI manages, advises, or administers approximately $1.4 trillion in assets. For more information,
visit seic.com.
About SEI's Investment Managers business
SEI's
Investment Managers business supplies investment organizations of
all types with the advanced operating infrastructure they must have
to evolve and compete in a landscape of escalating business
challenges. SEI's global operating platform provides investment
managers and asset owners with customized and integrated
capabilities across a wide range of investment vehicles,
strategies, and jurisdictions. SEI's services enable users to gain
scale and efficiency, keep pace with marketplace demands, and run
their businesses more strategically. SEI partners with more than
550 traditional and alternative asset managers, as well as
sovereign wealth funds and family offices, including 48 of the top
100 asset managers worldwide.* For more information, visit
seic.com/ims.
*Based on Pensions & Investments' "Largest Money
Managers" 2022 ranking.
About SEI Trust Company
SEI Trust Company (the
Trustee) serves as the Trustee of the Fund and maintains ultimate
fiduciary authority over the management of, and the investments
made, in the Fund. The Fund is part of a Collective Investment
Trust (the Trust) operated by the Trustee. The Trustee is a trust
company organized under the laws of the Commonwealth of
Pennsylvania and a wholly owned
subsidiary of SEI Investments Company (SEI).
Company
Contact:
|
Media Contact:
|
Emily
Baldwin
|
Kerry Mullen
|
SEI
|
Vested
|
+1
610-676-3262
|
+1
917-765-8720
|
ebaldwin@seic.com
|
kerry@fullyvested.com
|
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SOURCE SEI Investments Company