Business
SEI Attracts Large European and Global Asset Managers with CIT Lineup
Turnkey Operational Platform Supports Asset Managers' and Plan Sponsors' Unique Demands OAKS, Pa., Feb. 6, 2024 /PRNewswire/ -- As European and global asset
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[{"type":"text","content":"Turnkey Operational Platform Supports Asset Managers' and Plan Sponsors' Unique Demands \nOAKS, Pa., Feb. 6, 2024 /PRNewswire/ -- As European and global asset managers increasingly embrace CITs, SEI® (NASDAQ:SEIC) today announced that SEI Trust Company will serve as trustee for four collective investment trusts (CITs) established by Pictet Asset Management in the U.S. institutional retirement market. Pictet Asset Management is one of Europe's leading active asset management brands. With a heritage stretching over 200 years, Pictet manages USD $237 billion in distinctive strategies globally.\n\nAsset managers like Pictet Asset Management are utilizing CITs to attract new capital and increase their distribution efforts in the U.S. retirement market. While low cost is often considered the primary driver of CITs' rising popularity among U.S. retirement plan sponsors, CITs' other key benefits include investment flexibility, increased availability, transparency, and the ability to reduce account minimums.\nJohn Alshefski, Senior Vice President and Managing Director of SEI's Traditional Investment Managers business, said:\n\"Asset managers are enhancing distribution by launching multiple share classes in various asset classes and investment strategies. Our established turnkey operational platform and experienced, professional team of experts enable global investment managers, retirement plans, consultants, and advisors an efficient way to gain access to SEI's extensive CIT lineup. We're excited to welcome Pictet Asset Management to SEI and look forward to servicing and supporting their CIT business.\"\nThe four CITs launched by Pictet Asset Management include:\nPictet Clean Energy Transition CITPictet EM Blend CITPictet EM Local Currency Debt CITPictet EM Hard Currency Debt CITElizabeth Dillon, CEO of Pictet Asset Management (USA), added: \n\"We are excited to offer U.S. institutions the opportunity to access proven Pictet Asset Management strategies that were previously only available to the largest institutions via mandates. Establishing CIT vehicles further reinforces our commitment to the U.S. institutional market.\"\nBryan Astheimer, Head of SEI's Investment Managers business for the U.K. and European regions, said: \n\"SEI is uniquely positioned to provide global managers with the expertise and access to our breadth of capabiliti...