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SEI Adds $9.4 Billion in New Institutional Assets; Achieves Record Institutional Sales Growth in 2012
Larger Institutional Investors Implementing Fiduciary Management Solutions
By: Marketwired .
Jan. 31, 2013 08:30 AM
OAKS, PA -- (Marketwire) -- 01/31/13 -- SEI (NASDAQ: SEIC) today announced the company achieved record institutional sales growth in 2012 with $9.4 billion in new global institutional assets, representing the highest total one-year growth for the company's institutional business. Among SEI's recently added U.S. clients are Carmeuse Lime and Stone, Inc., Century Aluminum Company, Midland Center for the Arts, Music Choice and Philadelphia Bakery Local #463 and Local #676.
SEI's significant institutional sales growth can be attributed to increased global implementation of discretionary outsourcing this year. Larger institutional investors have shown increased interest in the model, with three of SEI's new 2012 clients having more than $1.3 billion in assets each. To date, SEI has 62 institutional clients with more than $250 million in assets, a 22 percent increase since 2010.
"Many of today's institutional investors want flexibility and customization when it comes to finding an effective discretionary partnership for their organizations. In order to provide the scalability needed to manage large portfolios, discretionary providers must have a time-tested approach and the necessary resources and assets in place," said Edward Loughlin, Executive Vice President, SEI and head of SEI's Institutional Group. "SEI's record institutional sales growth is a testament to our sophisticated advice process, quality finance and investment experts and proven track record working with institutional investors of all sizes to best meet their unique goals and objectives."
SEI saw continued strong growth from the corporate defined benefit and nonprofit markets in 2012, as well as increased interest in its fiduciary management solution by healthcare organizations and multiemployer and municipal pension plans. The new business reaffirms SEI's position as one of the world's largest investment outsourcing providers with more than 450 global institutional clients. As investment management increases in complexity, new clients have cited SEI's comprehensive reporting solutions, quality strategic advice, and customizable solutions with flexible levels of discretion as major factors in their decision to partner with the company.
"As institutional investors continue to embrace delegation, larger organizations are seeing the value in the model as an enhancement to their existing program," said Paul Klauder, Vice President and Managing Director, SEI's Institutional Group. "When institutional investors consider a discretionary partnership, many view SEI as a leader and innovator in the industry given that investment outsourcing has been the company's core competency and business model for more than 20 years."
About SEI's Institutional Group
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