SEI Master Trust Gains Authorisation from The Pensions Regulator

13 August 2019

Specialist Master Trust Provider Says Focus Must Now Return to Personalisation of Outcomes and Quality of Investments

LONDON, 13 Aug., 2019 – SEI (NASDAQ: SEIC) today announced that the SEI Master Trust has been granted authorisation by The Pensions Regulator. Built upon a 25-year heritage of fiduciary management and using the wealth of experience it has garnered since its launch in 2007, the SEI Master Trust is designed to adapt to the specific needs of each new client and leverages SEI’s extensive manager-of-managers investment program.

"Throughout the authorisation process, our primary focus remained on delivering the best possible outcomes for the thousands of members for whom we are responsible."

Allan Course, Capital Cranfield Pension Trustees Limited and Chair of the Trustees of the SEI Master Trust, said:

“We are delighted to have our authorisation confirmed by the Regulator. However, as Trustees, our role extends far beyond meeting regulatory requirements. Throughout the authorisation process, our primary focus remained on delivering the best possible outcomes for the thousands of members for whom we are responsible.  We have continued to challenge ourselves, our advisers and our specialist providers to enhance and develop every aspect of the Master Trust in order to achieve this. We are therefore delighted that, with our authorisation now confirmed, the benefits of SEI Master Trust membership can be shared with an even wider audience.”  

Steve Charlton, Managing Director of Defined Contribution, EMEA and Asia for SEI’s U.K. Institutional Group, said: 

“Master Trust authorisation ensures some fundamental protections for members – ones they should have been able to take for granted - are now more firmly established across the industry. With a robust authorisation and supervisory regime now in place, we are delighted that the industry can focus on the biggest influencers to improve outcomes, namely each scheme’s contribution and investment approach. Throughout the authorisation process, we have continued to develop the design, implementation and communication of these hugely important aspects of our proposition. We look forward to sharing these developments with our prospective clients and their advisers over the coming weeks and months.”

The SEI Master Trust has been designed to adapt to the specific and changing needs of each client by bringing a personalised approach to client service, investment management and member engagement. For employers who want a solution that delivers the best possible outcomes for their employees, SEI provides customised services and solutions, including:

  • Client Service: SEI’s service adapts to meet each employer’s specific requirements. This includes the frequency, method and content of employer engagement, preferred payroll and administration processes, and the most appropriate investment solution for members. 
  • Default strategies: Glide paths are tailored to member demographics and target outcomes, incorporating active, factor-based and passive investments as appropriate. With drawdown available to all members in-scheme, glide paths can integrate default income levels and retirement pathways. 
  • Investment options: Each section’s risk-rated funds are designed to suit the profile of its members, whether they are saving for retirement or drawing an income. SEI’s manager-of-managers platform removes the need to blend or white label by providing access to leading fund managers across all asset classes and geographies. In addition to the SEI investment options, the fund range is complemented by specialist active, factor-based and passive funds.
  • Member engagement: Using an integrated multi-channel communications approach, SEl engages with employees using whichever methods will best elicit the desired responses. By embracing behavioural insights that help members get the most from their pension, SEI aims to optimise their contributions and investment strategy throughout their member journey.

About SEI’s Institutional Group

SEI’s Institutional Group is one of the first and largest global providers of outsourced investment management services. The company delivers integrated retirement, healthcare and nonprofit solutions to more than 480 clients in 12 countries, as of June 30, 2019. Our solutions are designed to help clients meet financial objectives, reduce business risk and fulfill their due diligence requirements through implemented strategies for the management of defined benefit plans, defined contribution plans, endowments, foundations and board-designated funds. 

About SEI

After 50 years in business, SEI (NASDAQ:SEIC) remains a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of June 30, 2019, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $970 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $335 billion in assets under management and $630 billion in client assets under administration.