LONDON, Feb. 22, 2016 – SEI (NASDAQ: SEIC) today announced its appointment as Fiduciary Manager by the Trustee of the Amey OS Pension Scheme. SEI will provide funding level management for the £135 million defined benefit scheme, which following a recent scheme merger has two discrete sections: The Accord Section and the Amey Section. The Accord Section has made the decision to replace their existing Fiduciary Manager with SEI. The Amey Section will be replacing their investment consultant and utilising a Fiduciary Manager for the first time, thereby harmonising the investment approach across the Scheme.
SEI was chosen following a competitive selection process involving a range of providers including investment consultants and fiduciary management specialists.
As Fiduciary Manager, SEI will provide strategic investment advice, as well as full implementation of a customised investment strategy and journey plan designed to meet the Scheme’s long-term funding objectives.
Kim Nash, Sole Independent Trustee of the Amey Pension Scheme and a Client Director at PTL, said:
“The Trustee made the decision to search for a Fiduciary Manager that would assist them with delivering a superior governance model. Our key requirement was a focus on delivering an enhanced investment strategy that would enable us to meet our funding goals. We undertook a thorough selection process to survey the market and selected SEI because of its specialist expertise in fiduciary management. We were impressed by the flexibility, depth of resources, and the quality of the SEI team.”
Commenting on the appointment, Ian Love, Managing Director in SEI’s Institutional Group in the UK, said:
“SEI is delighted to be appointed as Fiduciary Manager to the Amey OS Pension Scheme. It is particularly positive that the scheme has made the decision to replace their incumbent Fiduciary Manager reflecting SEI’s position as a leading specialist provider. We look forward to working with the Trustee to help achieve their long-term funding level objectives.”
About Fiduciary Management
SEI’s Institutional Group is the first and largest global provider of Fiduciary Management services. The company began offering these services in 1992 and currently has more than 475 fiduciary management clients worldwide. SEI became the first company to offer a fiduciary management solution that integrates assets, liabilities and overall organizational finances by incorporating risk management, investment advice, implementation, oversight, trust/custody, and a unique modelling process. For more information visit: seic.com/institutions.
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 470 clients in eight countries. 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. For more information visit: seic.com/institutions.
SEI (NASDAQ:SEIC) is 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 December 31, 2015, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $670 billion in mutual fund and pooled or separately managed assets, including $262 billion in assets under management and $408 billion in client assets under administration. For more information, visit seic.com.
This information is issued by SEI Investments Europe Ltd, Alphabeta Building, 14-18 Finsbury Square, London EC2A 1BR which is authorized and regulated by the Financial Conduct Authority.