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SEI Appointed as Fiduciary Manager for GBP 127 Million Sappi UK Pension Scheme


SEI Appointed as Fiduciary Manager for GBP 127 Million Sappi UK Pension Scheme

LONDON, UNITED KINGDOM -- (Marketwired) -- 09/23/13 -- SEI (NASDAQ: SEIC) today announced that it has been appointed as fiduciary manager by the Trustees of the Sappi U.K. defined benefit pension scheme (Sappi). SEI will act as fiduciary manager for the total assets of Sappi's GBP 127 million defined benefit scheme in the U.K. The company sponsor, Sappi, is a global company focused on providing dissolving wood pulp, paper pulp, and paper based solutions. Sappi chose SEI after a competitive process involving several providers.

As Sappi's dedicated fiduciary manager, SEI will provide strategic investment advice and full implementation of a bespoke investment strategy and journey plan (de-risking/re-risking plan) to meet the company's funding goals. SEI will also manage the scheme's day-to-day investment strategy including selection and replacement of managers, tactical asset allocation, journey plan implementation, funding level monitoring, and reporting.

Commenting on the appointment, Arthur Tucker, Chairman of Trustees at Sappi U.K. Pension Scheme, said:

"We decided to appoint a fiduciary manager because of a desire by the trustee body to be more proactive in managing the scheme's funding level. We felt that partnering with a fiduciary manager would allow us to delegate the day-to-day management of the scheme, providing us with more time to focus on strategic issues. Our experience to date has supported this decision. We selected SEI as our partner because we were impressed with the company's considerable track record of providing both advice and implementation, and the strength of its process."

Commenting on the appointment, Ian Love, Managing Director of UK Business Development at SEI Institutional Group, said:

"We are delighted that the Trustees of the Sappi scheme have appointed SEI. 2013 has been a strong year for SEI's fiduciary management business and the huge momentum behind sales is a testament to the growing acceptance of fiduciary management as a model, and the recognition of SEI's expertise as a specialist provider. We look forward to further success in the remainder of the year and to working with all our clients to achieve their funding 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 modeling, investment management, risk monitoring and stress testing, active liability-focused investing and integrated goals-based reporting. For more information visit: http://www.seic.com/enUK/institutional-investors.htm.

About SEI 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 http://www.seic.com/enUK/index.htm.

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 Conduct Authority.

Company Contact: Caroline Deutsch SEI +44 0207 297 6408 cdeutsch@seic.com

Media Contact: Sara Lyons MHP Communications +44 (0)203 128 8519 sara.lyons@mhpc.com

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