SEI Cuts Clean Share Class Fees of Strategic Portfolios
SEI Lowers the Fees on Several Strategic Portfolios to Bring Parity
Between Clean and Bundled Share Classes
LONDON -- (Marketwired) -- 08/27/13 -- SEI (NASDAQ: SEIC), which
recently announced that its seven goals-based Strategic Portfolios
have surpassed GBP 1 billion in assets, is lowering the total fund
fees of its clean share class of several funds by 5-10 basis points
each to ensure alignment with the company's bundled share class.
The funds fees being lowered are the Wealth A share class of: the SEI
Defensive Fund (with the total fund fee reduced to 0.65 percent from
0.70 percent); the SEI Conservative Fund (reduced to 0.75 percent
from 0.80 percent); the SEI Moderate Fund (reduced to 0.80 percent
from 0.90 percent); and the SEI Aggressive Fund (reduced to 1.05
percent from 1.11 percent).
The SEI Strategic Portfolios are risk-rated, multi-asset funds with a
manager-of-manager investment structure that offers retail investors
access to some of the best active institutional fund managers around
"While we have offered a clean share class since the SEI Strategic
Portfolios launched in 2009, for legacy reasons the prices of some of
the funds were slightly out of alignment with their bundled
equivalents," said Kevin Addison, Head of European Asset Management
Distribution at SEI. "As a company committed to ensuring that all
investors receive the best possible price, regardless of share class,
we are pleased to adjust these fees appropriately."
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 www.seic.com.
SEI Investments (Europe) Limited acts as
distributor of the Strategic Portfolios which are authorized in
Ireland pursuant to the UCITS regulations. The funds are incorporated
in Ireland as limited liability investment companies and are managed
by SEI Investments Global, Limited, an affiliate of the distributor.
Please note that the value of an investment and any income from it
can go down as well as up and investors may not get back the original
amount invested. Investment portfolios are generally medium- to
long-term investments and may not be appropriate if you can only
invest for a short period. Past performance is not a guarantee of
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