SEI Selected by University of Cambridge to Manage Defined Contribution Benefits
(firmenpresse) - LONDON -- (Marketwired) -- 05/06/13 -- (NASDAQ: SEIC) today announced that the University of Cambridge has selected the SEI Master Trust as a solution for the (DC) benefits for members of Cambridge University Assistants' Contributory Pension Scheme (CPS). The SEI Master Trust will act as a top-up pension scheme to the CPS, a Defined Benefit (DB) scheme, for employees joining the CPS arrangement after 1 Jan., 2013. Existing members of CPS will also have the option to invest contributions in the SEI Master Trust.
The SEI Master Trust will provide the University of Cambridge with a bundled, trust-based DC solution, including independent trustee, member administration, and investment management. With over six years experience operating a DC Master Trust in the U.K., SEI is able to offer a customized service which will work in tandem with the existing DB arrangements.
"The scheme's decision to select the Master Trust for DC was driven by our desire to provide a solution for members that was both flexible and efficient, with a sophisticated default fund. By integrating the SEI Master Trust with CPS we have been able to achieve one of our objectives of risk sharing between the employer and members."
"We are delighted that CPS has selected the SEI Master Trust. Using the SEI Master Trust to complement the current DB scheme demonstrates the kind of flexibility available to employers who seek to provide DC benefits with minimal disruption to their existing processes. It also shows SEI's commitment to providing solutions which aim to deliver high quality investment-oversight and governance. We look forward to working closely with CPS in achieving their pension objectives."
The SEI Master Trust provides a fully-bundled solution for employers delivering Defined Contribution (DC) schemes. The Master Trust offers a range of flexible options for employers, including the ability to outsource management of deferred members as an alternative to DC scheme buy-outs and the capacity to design customized default investment strategies. The Master Trust also offers assistance in meeting auto-enrollment obligations. Key benefits to employers include in-house investment management and oversight, organization of member communications, flexible scheme administration, and independent trustee oversight.
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 retirement, nonprofit 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: .
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 March 31, 2013, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $495 billion in mutual fund and pooled or separately managed assets, including $206 billion in assets under management and $289 billion in client assets under administration. For more information, visit .
Caroline Deutsch
SEI
+44 0207 297 6408
Sara Lyons
MHP Communications
+44 (0) 203 128 8519
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Datum: 06.05.2013 - 16:00 Uhr
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News-ID 256499
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