SEI Submits Master Trust Authorization to TPR

March 5, 2019

LONDON, March 5, 2019 – SEI (NASDAQ: SEIC) today announced that it completed the submission for authorization of the SEI Master Trust on Feb. 28, 2019, several weeks ahead of The Pensions Regulator’s (TPR) end of March 2019 deadline. The SEI Master Trust, one of the first Master Trusts launched in the U.K. more than 11 years ago, has been built upon a 25-year heritage of fiduciary management, resulting in a different investment approach to defined contribution (DC).

"The SEI Master Trust is one of the most established in the industry, benefiting as it does from years of experience in providing high-quality, outsourced pension scheme management whilst utilizing SEI’s manager-of-managers investment proposition."

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

“Having taken plenty of time to check - and then double check - that all of our Ts were crossed and our Is were dotted, we were very pleased to make our submission for authorization well ahead of the deadline. The SEI Master Trust is one of the most established in the industry, benefiting as it does from years of experience in providing high-quality, outsourced pension scheme management whilst utilizing SEI’s manager-of-managers investment proposition. I am proud to be its Chair.” 

 

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

“The defined contribution landscape and pensions saving environment have changed significantly in recent years, calling for a completely different approach to pension scheme management. Employers looking to outsource the management of their pension schemes are now able to focus on selecting a provider that can bring communication and investment innovation, and deliver better outcomes for their employees.” 

The SEI Master Trust encompasses best-in-class investment management and member communications, underpinned by administration processes that have been tried and tested since its launch 11 years ago. 

  • Investment proposition and depth of expertise: SEI’s manager-of-managers platform is overseen daily by more than 115 in-house investment experts, providing members access to competitively-advantaged managers and asset classes, beyond what the average DC scheme can make available. SEI’s heritage is reinforced by global scale with £5 billion in DC assets under management. 
     
  • A simple, flexible solution: SEI can create a customized investment solution or provide a “best ideas” default strategy, whilst ensuring a simple process for employers and aiming to deliver maximum impact for members. 
     
  • Complete member journey: From auto-enrollment through beyond retirement, SEI facilitates an engaging member journey that includes full drawdown capabilities within the Master Trust, eliminating the need for members to transfer to a separate product. 

About the SEI Master Trust

The SEI Master Trust provides a fully-bundled solution for employers delivering defined contribution (DC) schemes. An independently-assured DC provision, the Master Trust encompasses investment management, member communications and administration, as well as utilising a manager-of-managers platform established over 25 years ago and overseen by more than 115 in-house investment experts. With an 11-year heritage as one of the first U.K. Master Trust providers, the SEI Master Trust is reinforced by its global scale, with £5 billion in DC assets under management*. The SEI Master Trust offers customised solutions and a complete member journey, guiding members through retirement and beyond. 

*As of Dec. 31, 2018

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 non-profit solutions to more than 480 clients in 12 countries, as of Dec. 31, 2018. 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 Dec. 31, 2018, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $884 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $307 billion in assets under management and $573 billion in client assets under administration.