SOURCE: SEI

SEI

August 10, 2015 09:00 ET

SEI Trust Company and Fiera Capital Corporation's U.S. Affiliate Partner to Provide International Equity Collective Investment Trust in U.S.

Leading Third-Party CIT Trustee, SEI Trust Company Helps Fiera Capital Achieve Another Milestone in Its U.S. Strategy

OAKS, PA--(Marketwired - Aug 10, 2015) - SEI (NASDAQ: SEIC) today announced that a wholly-owned U.S. registered investment advisor subsidiary of Fiera Capital Corporation ("Fiera Capital") has been retained by SEI to act as a sub-advisor for the newly created international equity collective investment trust (CIT) implemented through the SEI Trust Company. The SEI Trust Company is a subsidiary of SEI, a leading supplier of customized operating infrastructure and services to investment organizations worldwide.

A pioneer in the CIT arena, the SEI Trust Company has successfully partnered with CIT advisors for more than 25 years. It has provided CIT services to more than 130 CITs representing over $25 billion in assets, making it one of the leading providers of CIT services and expertise. 

"Given the lower costs and operational efficiencies of a CIT, it was the clear choice for offering a daily-valued vehicle in the U.S. retirement market," said Richard Nino, Executive Vice President, Institutional Markets at Fiera Capital. "With its market leadership and expertise in CITs, SEI was the natural partner to help us leverage that vehicle's advantages. Its execution of the CIT due diligence, launch, and initial client onboarding processes has been outstanding every step of the way." 

The CIT was initially funded with a mandate of approximately $540 million from a 401(k) plan sponsor with more than $20 billion in assets. The SEI Trust Company will serve as trustee, and will provide fiduciary management along with accounting and administration functions for the CIT.

"We expect Fiera Capital's international equity acumen and SEI Trust Company's CIT expertise to be a winning combination in the U.S. retirement market, especially in light of the growing demand for CITs," said John Alshefski, Senior Vice President and Managing Director of SEI's Investment Manager Services division. "Plan sponsors are increasingly taking advantage of CITs' efficiency and flexibility to offer customized, effectively priced solutions for retirement investors." 

Since entering the U.S. market in 2011, Fiera Capital has been delivering strong organic growth in the United States through its U.S. affiliates, which have won two dozen institutional mandates in United States, totalling more than $2.4 billion in assets.

"The launch of the CIT is an important milestone in Fiera Capital's overall strategy for significantly expanding its presence and distribution in the U.S.," said Nino.

About SEI Trust Company
SEI Trust Company (the "Trustee") serves as the Trustee of the Fund and maintains ultimate fiduciary authority over the management of, and the investments made, in the Fund. The Fund is part of a Collective Investment Trust ("the Trust") operated by the Trustee. The Trustee is a trust company organized under the laws of the Commonwealth of Pennsylvania and a wholly owned subsidiary of SEI Investments Company (SEI).

The Trusts are trusts for the collective investment of assets or participating tax qualified pension and profit sharing plans and related trusts, and government plans as more fully described in the Declaration of Trust. As bank collective trusts, the Trusts are exempt from registration as an investment company. The Trusts are managed by SEI Trust Company, the trustee, based on the investment advice of the U.S. registered investment advisory affiliate of Fiera Capital. For more information, please see the offering documents for the Trust, available from Fiera Capital or SEI Trust Company.

About SEI's Investment Manager Services Division
SEI IMS supplies investment organizations of all types with advanced operating infrastructure they must have to evolve and compete in a landscape of escalating business challenges. SEI's award-winning global operating platform provides asset managers with customized and integrated capabilities across multiple investment vehicles, strategies, and jurisdictions. Our services enable investment managers to gain scale and efficiency, keep pace with marketplace demands, and run their businesses more strategically. SEI presently partners with more than 300 traditional, alternative and sovereign wealth managers representing over $15 trillion in assets, including 32 of the top 100 managers worldwide. For more information visit seic.com/ims.

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 June 30, 2015, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $661 billion in mutual fund and pooled or separately managed assets, including $262 billion in assets under management and $399 billion in client assets under administration. For more information, visit seic.com.

About Fiera Capital
Fiera Capital Corporation is a leading Canadian publicly traded, independent asset management firm. It is one of only a handful of full service, multi-product investment firms in Canada offering clients Canadian and foreign equity and fixed income management as well as depth and expertise in asset allocation and non-traditional investments. It does not provide asset management services in the U.S. In the U.S., asset management services are provided by its U.S. affiliates. For more information, visit www.fieracapital.com.

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