August 07, 2013 11:30 ET

SEI Appointed as Fiduciary Manager by Sembcorp Utilities (UK) Ltd

LONDON--(Marketwired - Aug 7, 2013) -  SEI (NASDAQ: SEIC) today announced that it has been appointed as fiduciary manager by the Trustees of the Sembcorp Utilities (U.K.) Ltd (Sembcorp) pension scheme. SEI will act as fiduciary manager for the total assets of Sembcorp's £95 million defined benefit scheme in the U.K. Sembcorp is a major industrial energy, water, and services provider to international process-industry companies based in the Teesside area. SEI secured the appointment following a competitive pitch against Sembcorp's existing investment consultant.

SEI will provide Sembcorp with a bespoke offering, which includes full discretion for de-risking using predetermined trigger points, ongoing monitoring of the scheme's funding level, strategic investment consulting services, as well as day-to-day management of the scheme's investment strategy. SEI was recommended to Sembcorp by an existing client after learning of Sembcorp's desire to find a more active approach to managing the pension's funding level.

Commenting on the appointment, Stephen Hands, Chairman of Trustees at the Sembcorp Utilities (U.K.) Ltd Pension Scheme, said:

"We decided to appoint a fiduciary manager because we were keen to find a solution that would provide an active approach to managing the funding level. We recognize the benefits of delegating and have already spent considerable time with SEI designing our journey plan and agreeing to trigger points, in order to have the best chance of meeting our funding objectives through de-risking."

Commenting on the appointment, Ian Love, Managing Director of U.K. Institutional Business Development at SEI, said:

"We are delighted that the Trustees of the Sembcorp scheme decided to appoint SEI. It is particularly pleasing that this appointment came about as the result of a referral from a trustee on an existing client trustee body. The referral and SEI's resulting appointment by Sembcorp reflect the value felt by clients who engage in a fiduciary management relationship with SEI. This appointment is one of a number of new appointments secured by SEI over the last six months and indicates the growing demand for more proactive governance models."

About SEI's Institutional Group
SEI's Institutional Group is one of the first and largest global providers of outsourced fiduciary management investment services. The company began offering these services in 1992 and today acts as a fiduciary manager to more than 450 retirements, non-profit and healthcare clients in seven different countries. Through a flexible model designed to help our clients achieve financial goals, we provide asset allocation advice and modeling, investment management, risk monitoring and stress testing, active liability-focused investing and integrated goals-based reporting. For more information visit:

About SEI
SEI (NASDAQ: SEIC) is a leading global provider of investment processing, fund processing, and investment management business outsourcing solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of June 30, 2013, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $507 billion in mutual fund and pooled or separately managed assets, including $204 billion in assets under management and $303 billion in client assets under administration. For more information, visit

About Sembcorp Utilities UK
Sembcorp is a leading industrial energy, water and services provider based at the Wilton International site near Redcar in North east England. The company, part of the Singapore-based Sembcorp Industries Group, employs around 380 people and became the pioneer of biomass power production in the UK when the 35MW Sembcorp Biomass Power Station (also known as Wilton 10) came on line in 2007.

This information is issued by SEI Investments (Europe) Limited, 4th Floor, Time & Life Building 1 Bruton Street, London W1J 6TL which is authorized and regulated by the Financial Conduct Authority.

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