SEI Appointed as Fiduciary Manager for Metroline
LONDON -- (Marketwired) -- 04/09/13 -- SEI (NASDAQ: SEIC) today
announced that it has been appointed as fiduciary manager to the
defined benefit schemes of Metroline, the well known provider of bus
services in London. SEI will act as fiduciary manager for the
Metroline London Northern Pension Scheme and the Metroline Pension
Scheme, which have GBP 26 million and GBP 25.6 million in assets,
respectively, totalling GBP 51.6 million in assets.
SEI will provide the Metroline schemes with a fiduciary management
service that includes advice on asset and liability matching
strategies and implementation of those strategies via the
construction of efficient investment portfolios.
The Metroline trustees pointed to SEI's ability to deliver an active
approach to growing and protecting funding levels with less reliance
on quarterly meetings in their decision to work with SEI. With a
fiduciary manager, Metroline's trustees can focus on strategic issues
rather than asset management.
Commenting on the appointment, John Brace, Trustee on the Metroline
London Northern and Metroline Pension Schemes, said:
"We decided to appoint SEI because we were keen to find a solution
that would improve our scheme governance and allow us to more
actively manage our funding level to reduce volatility and close any
funding gaps. We undertook a rigorous procurement exercise with the
guidance of our administrator and appointed SEI because we were
impressed with the depth and quality of the company's team and SEI's
significant track record in managing funding levels effectively. We
were particularly attracted to SEI because it offered a bespoke
solution that was tailored to our needs as a trustee body. We also
felt a unique rapport with the team, which has given us confidence in
SEI's ability to work with us and achieve our objectives for the
scheme and its members."
Commenting on the appointment, Patrick Disney, Managing Director of
SEI's Institutional Group in the EMEA region, said:
"We are delighted that such a strong and well known brand like
Metroline has made the decision to appoint SEI as fiduciary manager.
Fiduciary management continues to grow in popularity in the U.K. and
we have had an excellent start to 2013, with a significant incre
in activity over the last few months. It is clear that trustee bodies
in the U.K. are starting to recognise the need for a specialist
approach to managing funding levels effectively and SEI's uniquely
tailored offering is gaining significant traction in the market."
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:
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
This information is issued by SEI Investments (Europe) Limited, 4th
Floor, Time & Life Building 1 Bruton Street, London W1J 6TL which is
authorised and regulated by the Financial Conduct 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.
+44 0207 297 6408
+44 (0)203 128 8519
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