OAKS, PA--(Marketwire - Oct 16, 2012) - SEI (NASDAQ: SEIC) today announced it has extended its multi-year relationship with Global X Funds to continue to provide a fully integrated, turnkey solution to support the firm's exchange traded fund (ETF) family. The extension of the relationship is a testament to SEI's ability to support Global X's continued success.
Global X has continued to grow and diversify its product line. After a successful launch of emerging market ETFs, Global X now manages 35 ETFs, having branched out further to include commodity producers as well as dividend-producing funds. For each of the Global X ETFs, SEI provides a complete outsourcing solution including fund administration, accounting, investor servicing, distribution and authorized participant (AP) processing in a scalable straight-through electronic processing environment.
"Our success is predicated on identifying unique and differentiated global investment opportunities and SEI is critical to that process," said Bruno del Ama, CEO of Global X Management. "They've been able to meet some very aggressive timelines because of their expertise and established processes. We rely on SEI as a true partner who will share their insight, knowledge, and experience, and help us to refine our thinking as we selectively target global markets. We're proud of our growth trajectory and are appreciative of the role SEI has played in helping us grow in the past and going forward."
"Global X's success has been in large part due to the firm's innovative product characteristics and we're pleased we've been there to support them throughout that process," said John Alshefski, Senior Vice President and Managing Director for SEI's Investment Manager Services division. "The scale needed to support Global X's growth aligned perfectly with SEI's experience in the ETF space and the market-leading technology, flexibility, and automation incorporated into our solution. We look forward to continuing our relationship with Global X to help them achieve their business objectives over the coming years."
Having introduced the industry's first fully-automated, web-based processing system for ETFs, SEI currently services over $500 billion in ETF assets, representing 44 percent of the market.
About SEI's Investment Manager Services Division
SEI's Investment Manager Services division provides comprehensive operational outsourcing solutions to support investment managers globally across a range of registered and unregistered fund structures, diverse investment strategies and jurisdictions. With expertise covering traditional and alternative investment vehicles, the division applies customized operating services, industry-leading technologies, and practical business and regulatory insights to each client's business objectives. SEI's resources enable clients to meet the demands of the marketplace and sharpen business strategies by focusing on their core competencies. The division has been recently recognized by Buy-Side Technology as "Best Fund Administrator," by Hedge Funds World Middle East as "Best Service Provider," by Global Investor as "Hedge Fund Administrator of the Year," and by HFMWeek as "Best Single Manager Hedge Fund Administrator (Over $30B AUA)" in the U.S. and "Best Administrator - Technology Provider" in Europe. For more information, visit www.seic.com/ims.
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, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $424 billion in mutual fund and pooled or separately managed assets, including $182 billion in assets under management and $242 billion in client assets under administration. For more information, visit www.seic.com.
About Global X Funds
Global X Funds is a New York-based provider of exchange-traded funds that facilitates access to investment opportunities across the global markets. With $1.45 billion in managed assets and over 100,000 investors from more than 100 countries as of September 19, 2012, Global X Funds currently offers exchange-traded funds that target Commodity Producers, International, Domestic, Alternatives, Industry, Income, and Asset Allocation fund suites. For more information, please visit www.globalxfunds.com.