SOURCE: SEI

SEI

November 12, 2014 09:30 ET

SEI Adds Environmental, Social, and Governance Strategy to New Covenant Growth Fund

Implementation Enhances the Core Investing Values of the Presbyterian Church

OAKS, PA--(Marketwired - Nov 12, 2014) - SEI (NASDAQ: SEIC) today announced the addition of an Environmental, Social, and Governance (ESG) overlay strategy for the New Covenant Growth Fund ("the Fund"), further ensuring the investments meet the core values set forth by the Presbyterian Church (USA). Using an overlay manager, the new strategy enhances the Fund's Socially Responsible Investing (SRI) strategy by adding positive portfolio tilts using ESG rankings based on MSCI ESG Research's Intangible Value Assessment (IVA). SEI is then able to overweight highly-ranked ESG stocks and underweight their lower-ranked counterparts.

"While ESG conceptually makes sense, the challenge for many investors is connecting the principles that are core to their values without compromising diversity and quality investments," said Mary Jane Bobyock, Director of Nonprofit Advisory Team, SEI's Institutional Group. "Through this ESG overlay, SEI provides clients invested in the New Covenant Growth Fund with the confidence that ESG is being implemented while still utilizing best-in-breed managers."

The New Covenant Growth Fund has approximately $423 million in assets, and is available to other investors interested in incorporating SRI and ESG overlay strategies into their portfolios. SEI was selected by The Presbyterian Foundation and its subsidiary the New Covenant Trust Company in 2012 to serve as an investment manager for the New Covenant Funds. The goal of the strategic partnership was to gain portfolio diversification and top institutional manager sourcing consistent with the investing beliefs of the Presbyterian Church.

Since assuming investment management responsibilities for the Fund, SEI has implemented a SRI restriction list to avoid holding excluded securities, such as alcohol, tobacco, and firearms. The recent change extends the Fund's strategy beyond negative screening to also include an emphasis on positive screening for highly ranked ESG securities. SEI has been providing ESG screening to institutional investors in the U.S. and U.K. for more than five years.

"Over the past several years, we have seen growing interest in SRI and ESG investing. Not just from university endowments and private foundations, but from corporations and public pension plans as well," said Bobyock. "More and more institutional investors want their investments to reflect the core values that their organizations represent, while still achieving their investment goals."

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 nonprofit solutions to more than 475 clients in eight countries. 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. For more information visit: seic.com/institutions.

About SEI
SEI (NASDAQ: SEIC) is 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 September 30, 2014, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $612 billion in mutual fund and pooled or separately managed assets, including $249 billion in assets under management and $363 billion in client assets under administration. For more information, visit seic.com.

About The Presbyterian Foundation and New Covenant Funds
Established in 1799, the Presbyterian Foundation cultivates, attracts, and manages financial resources of individuals and institutions to serve Christ's mission. The Foundation launched New Covenant Funds in 1999 to provide individual and institutional investors a family of socially responsible mutual funds operated in accordance with the social witness principles of the Presbyterian Church (U.S.A.). For more information, visit www.PresbyterianFoundation.org and www.newcovenantfunds.com.

Disclosure
There are risks involved with investing, including loss of principal. Diversification may not protect against market risk. There is no assurance the goals of the strategies discussed will be met.

For those New Covenant Funds which employ the 'manager of managers' structure, SEI Investments Management Corporation (SIMC) has ultimate responsibility of the investment performance of the Fund due to is responsibility to oversee the sub-advisers and recommend their hiring, termination, and replacement. SEI Investments Management Corporation (SIMC) is the adviser to the New Covenant Funds, which are distributed by SEI Investments Distribution Co (SIDCO). SIMC and SIDCO are wholly owned subsidiaries of SEI Investments Company.

To determine if the Funds are an appropriate investment for you, carefully consider the investment objectives, risk factors and charges, and expenses before investing. This and other information can be found in the Funds' prospectus, which can be obtained by calling 1-877-835-4531. Read the prospectus carefully before investing.

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