SEI Appointed as Fiduciary Manager for Jeyes Pension Funds

LONDON, July 19 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC),  a leading global provider of  Fiduciary Management, today announced that it has been appointed as Fiduciary Manager to the 22 million pounds Sterling Jeyes Pension Fund and the 2.6 million pounds Jeyes Supplementary Pension Scheme. As Fiduciary Manager, SEI will partner with the trustees to develop an integrated strategy focused on improving the funding status of the pension scheme.

SEI will provide Jeyes with a Fiduciary Management offering which includes the implementation of asset and liability matching strategies, the construction of an efficient investment portfolio, the selection of managers to run the portfolio, and also the monitoring and replacement of investment managers via the SEI Manager-of-Managers investment process.

SEI is the first and largest global provider of Fiduciary Management with over 500 clients and a track record dating back to 1992, when the service was first launched in the U.S.

Commenting on the appointment, Tim Cave, Chairman of Trustees at the Jeyes Pension Fund and Jeyes Supplementary Pension Scheme, said:

"We decided to appoint a Fiduciary Manager because we were keen to enhance the governance of the scheme without increasing the cost or time spent by the trustees. We were attracted by the potential to make the assets of the scheme work harder and the improved alignment of assets and liabilities in the Fiduciary Management approach.  

"We selected SEI because of their significant track record in Fiduciary Management globally and the fact that they are able to take full accountability for the manager research and selection process via the manager-of-managers implementation model."

Commenting on the appointment, Patrick Disney, Managing Director of SEI's Institutional Business for EMEA, said:

"We are delighted that Jeyes has made the decision to appoint us as their Fiduciary Manager. This mandate further demonstrates the increased interest we are starting to see in SEI's Fiduciary Management proposition in the U.K. Pension schemes are beginning to see the benefits of a model which can help to achieve the company's key goal of reducing the funding gap by outsourcing strategic advice, implementation, and oversight to one provider. We look forward to working with Jeyes in seeking to achieve their goals."

About SEI's Institutional Group

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 over 500 fiduciary management clients worldwide. In 2004, SEI became the first 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 modeling process. The company provides these services to pension fund, healthcare, charity and endowment clients worldwide. For more information visit http://www.seic.com/enUK/institutions/fiduciary-management.htm.

About SEI

SEI (Nasdaq: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of March 31, 2010, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $394 billion in mutual fund and pooled assets and manages $162 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from numerous offices worldwide. For more information, visit http://www.seic.com/enUK/.

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SOURCE SEI