SEI's Enhanced Bank Loan Outsourcing Services Deliver Integrated, Automated Loan Data and Middle-Office Processing

SEI Leverages Advent's Geneva(R) and Virtus Partners Data Services for Greater Efficiencies and Enhanced Client Reporting

Jan 07, 2010, 09:53 ET from SEI

OAKS, Pa., Jan. 7 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC) today announced that it is enhancing its bank loan operational outsourcing solution by leveraging new technologies that increase loan processing automation and incorporate in-depth independently-sourced data. The new functionality is delivered through Geneva, Advent Software's portfolio management and fund accounting solution. Advent recently entered into an agreement with Virtus Partners, LLC to integrate Geneva with Virtus' bank loan data offering. Through this relationship, SEI clients gain access to automated loan data feeds from Virtus, which can be electronically posted directly into Geneva via a standard integration tool developed by Advent and Virtus. This helps SEI maximize efficiency and utilize straight through processing of loan data within its operations.

SEI has been supporting bank loan clients since 2002, and is one of the industry's largest outsourcers to managers who invest in syndicated bank loans. SEI is an early adopter of the Virtus interface into Geneva, and believes this will improve data tracking and facilitate faster portfolio onboarding. Additionally, SEI has engaged NorthPoint Solutions, a premier business consultancy focused on the alternative investment sector, to ensure that industry best practices are applied to its processes, controls and output as part of this enhancement.

The enhancement to SEI's existing platform includes the implementation of Advent Geneva's bank loan functionality in conjunction with Virtus' comprehensive bank loan database, by integrating a centralized loan data feed directly into one of the industry's most robust processing and accounting platforms. As part of the solution enhancement, SEI is offering a specialized set of reports that enable clients to gain bank loan-specific details and also, through integration with other asset classes, a consolidated portfolio view across all holdings. At this time, SEI is also implementing a multi-billion dollar beta client onto the platform.

"With Geneva and its new Virtus interface, we will further automate our bank loan processing capability and gain access to one of the industry's leading sources of bank loan data," said Phil McCabe, Senior Vice President and Solution Head, SEI's Investment Manager Services division. "We're very pleased to be one of the first fund outsourcers to take advantage of Advent and Virtus' new relationship, and to deliver such a valuable solution to the market. SEI has an ongoing philosophy of implementing and integrating best-in-class technologies to deliver industry-leading solutions for our clients. Clients will now have access to higher quality data, greater efficiency, and the increased operational risk mitigation that is so critical in today's environment."

"With this new offering, we have three centers of excellence all coming together to provide a world-class solution for bank loan processing," said Robert Tomicic, Partner, Virtus Partners. "It is clear that SEI has a history of expertise in handling bank loans, Geneva has one of the pre-eminent investment processing platforms, and we've got an industry-leading base of specific experience, industry knowledge, and detailed bank loan data. We're proud to be a part of this collaboration."

About SEI's Investment Manager Services Division

SEI's Investment Manager Services division provides total operations outsourcing solutions to global investment managers focused on mutual funds, hedge and private equity funds, exchange traded funds, collective trusts, separately managed accounts and institutional and private client services. The division applies operating services, technologies, and business and regulatory knowledge to each client's business objectives. Its resources enable clients to meet the demands of the marketplace and sharpen business strategies by focusing on their core competencies. The division has been recognized by Buy-Side Technology as "Best Fund Administrator" and by HFMWeek as "Best Funds of Hedge Funds Administrator." For more information, visit www.seic.com/ims.

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 September 30, 2009, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $383 billion in mutual fund and pooled assets and manages $156 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from numerous offices worldwide. For more information, visit www.seic.com.

Advent, Advent Software and Geneva are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.

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