SEI's Institutional Nonprofit Business Experiences Global Growth in 2008
OAKS, Pa., February 4, 2009 -- SEI (NASDAQ:SEIC) today announced that as part of its strong 2008 institutional sales, the companyís global nonprofit business continued to expand with the addition of new nonprofit clients in four different countries. Among SEIís new global nonprofit clients are CCSU Foundation, Inc. (US), Community Foundation of the Jewish Federation of Orange County California (US), The Bishop Strachan School Foundation (Canada), New Jersey Education Association (US) and The American College (US). SEI now services nonprofit clients in five countries including the US, Canada, Hong Kong, United Kingdom and Netherlands.
Over the past 36 months, SEIís nonprofit group has added 33 new clients and over $2 billion in new assets under management. SEIís nonprofit business continues to expand as the organization now has over 110 nonprofit institutional clients and over $4 billion in nonprofit institutional assets under management.
ďLast year was a difficult year for nonprofits as they were challenged by the overall economy, market turmoil and lack of transparency from investment managers,Ē said Carolyn McLaurin, Vice President and Managing Director of SEIís Nonprofit Group. ďNow more than ever, nonprofit organizations are looking for strategic partnerships with investment managers who can provide diversification, economies of scale and accountability.Ē
SEI continues to broaden its investment solutions for this market. In 2008, SEI launched its Screened World Equity Ex-U.S. Fund, which invests in funds that eliminate companies that generate revenue through business relationships with Sudan or Iran. The fund was immediately supported by nine of SEIís nonprofit institutional clients, who allocated over $80 million in seed investments for the launch.
About SEIís Institutional Group
SEIís Global Institutional Group delivers integrated retirement, healthcare and nonprofit solutions to over 340 U.S. institutional clients and 500 global institutional clients in six different countries. SEI enables clients to meet financial objectives, reduce business risk, and fulfill their due diligence requirements through implemented strategies for the management of defined benefit plans, defined contribution plans, endowments, foundations and other balance sheet assets. For more information, visit http://www.seic.com/institutions.
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 $380 billion in mutual fund and pooled assets and manages $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.