SEI Chosen By Coast Capital Savings To Provide Investment Management Services
14 April 2009
Coast Capital Savings Leverages SEI’s Investment Management Expertise to Launch New Mutual Funds
OAKS, Pa., April 14, 2009 – SEI (NASDAQ:SEIC) announced today that it has been selected by Coast Capital Savings, Canada's second largest credit union, to provide investment management services for their new investment offering.
This win marks a new distribution partnership for SEI’s asset management solutions. As part of the agreement, SEI will be responsible for the investment management of the new program, which includes six asset allocation mutual funds, each designed to meet an individual investor's goals, timeframe and risk tolerance.
“SEI is very pleased with this new strategic partnership. By outsourcing investment management to SEI, Coast Capital Savings is now well-positioned to focus on their core business and client service functions,” said Jim Morris, Senior Vice President of SEI’s Private Banks segment.
“Outsourcing investment management to SEI allows us to focus on expanding our strong and well-established brand,” said Coast Capital Savings CEO Lloyd Craig. “Until now we have only been able to offer traditional third-party mutual funds. We are now able to offer our clients more choices and access to an industry leader like SEI.”
SEI is a global investment management company which specializes in providing investment solutions that include asset allocation research and a manager-of-managers implementation. This disciplined investment approach focuses on an investor’s time horizon and recognizes that managing investment risk is as important as generating returns. Each fund is managed by multiple specialist portfolio managers who each provide specific expertise. SEI oversees the selection and performance of each specialist manager and also conducts continuous portfolio monitoring to ensure adherence to the funds’ investment style and objectives.
For over 10 years, SEI has offered a diverse range of investment programs to investment advisors across Canada that focus on the principles of asset allocation and utilize a manager-of-managers investment strategy.
About SEI
SEI (NASDAQ:SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of December 31, 2008, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers US$380 billion in mutual fund and pooled assets and manages US$134 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from more than 20 offices in over a dozen countries. For more information, visit www.seic.com.
About SEI’s Private Banks Segment
SEI’s Private Banks business segment delivers investment management and wealth processing services through its Global Wealth Services solution to private banks and wealth management organizations. SEI enables wealth managers to meet the rapidly evolving business and investment needs of their clients by helping them grow and protect revenue, minimize cost and allocate capital effectively, enable risk management and help manage transformation. SEI’s solutions are used by over 290 clients in 9 countries. For more information, visit http://www.seic.com/banks/.
About Coast Capital
Coast Capital Savings is Canada's second largest credit union with total assets under administration of $12.3 billion, 404,000 members and 51 branches in the Metro Vancouver, Fraser Valley and Vancouver Island regions of British Columbia. Product innovations from Coast Capital Savings include Canada's first free chequing account from a full-service financial institution, the first business account in the country to offer unlimited transactions for a flat fee and the newly introduced High-interest, No-fee Savings Account, another first for the Canadian financial industry. The credit union was named one of BC's Top 50 Employers in 2009, is one of Canada's 50 Best Managed Companies and the recipient of the Canadian Co-operative Association Innovations in Co-operative Governance Award. Coast Capital Savings has also been designated a Caring Company by Imagine Canada. Mutual funds are provided by Worldsource Financial Management Inc. To learn more, visit www.coastcapitalsavings.com.