SEI Attracts Large European and Global Asset Managers with CIT Lineup

OAKS, Pa., Feb. 6, 2024 – 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.

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).

*Based on Pensions & Investments’ “Largest Money Managers” 2022 ranking.