LONDON--(Marketwire - Feb 18, 2013) - SEI (NASDAQ: SEIC) today announced that it has been appointed as fiduciary manager by the defined benefit pension scheme for Epson (U.K.) Ltd (Epson), the global supplier of print and imaging products. SEI will act as fiduciary manager for all assets of Epson's £40 million defined benefit scheme in the U.K. Epson used an independent consultant to assist them in selecting a fiduciary manager.
SEI will provide the Epson scheme with a Fiduciary Management offering, which includes the implementation of asset and liability matching strategies, the construction of an efficient investment portfolio, and the selection and replacement of managers to run the portfolio. Epson's trustees decided to engage a fiduciary manager because of a desire to more actively and effectively manage the scheme's funding level. The trustees wanted to implement a process that would allow for nimble investment decisions, as well as a process in which they could delegate the day-to-day management of the scheme in order to focus more time on strategic objectives.
Commenting on the appointment, Nigel Wildman, Chairman of Trustees of the Epson (U.K.) pension scheme, said:
"We decided to appoint a fiduciary manager because we were keen to find a solution that would improve our scheme governance and allow us to more effectively manage of our funding level. Both the trustees and the company were impressed by SEI's proposals and track record in fiduciary management. We were ready to take a more delegated approach in an area that was becoming more complex and time consuming for a trustee board that has no specialist investment knowledge or background. Based on SEI's pitch, we have high expectations for them as our fiduciary manager, and I can say that the transition process to SEI has been delivered on plan and to our expectations."
Commenting on the appointment, Patrick Disney, Managing Director of SEI's Institutional Group in the EMEA region, said:
"We are delighted that the Epson pension scheme has made the decision to appoint SEI as fiduciary manager. As our success in 2012 indicates, fiduciary management continues to grow in popularity in the U.K. and this win is a further demonstration of how an approach that aims to improve governance and decision making can benefit trustees. We look forward to working with the trustees of this scheme to achieve their objectives."
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 modelling, investment management, risk monitoring and stress testing, active liability-focused investing and integrated goals-based reporting. For more information visit: http://www.seic.com/institutions.
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 December 31, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $458 billion in mutual fund and pooled or separately managed assets, including $201 billion in assets under management and $257 billion in client assets under administration. For more information, visit www.seic.com.
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 Services Authority.
No offer of any security is made hereby. Recipients of this information who intend to apply for shares in any SEI Fund are reminded that any such application may be made solely on the basis of the information contained in the Prospectus.