GLOBAL - SEI saw its institutional assets under management increase by over €4.5bn over 2006, after it brought in 65 new institutional clients.
The firm secured eight new pension funds clients in the Netherlands including TDV. Other new global clients were Hong Kong Electric, Ottaway Newspapers and American Commercial Lines, among others.
SEI claimed a key driver for the institutional sales growth was the continued adoption of the firm’s integrated pension solutions in seven different countries –the US, Canada, United Kingdom, Netherlands, Germany, Hong Kong and South Africa.
SEI’s Benelux business MD Bart Heenk said: “SEI’s growth in the Netherlands and globally in 2006 points to a growing trend towards outsourcing as companies and pension schemes evaluate their current approach and search for innovative strategies that are an alternative to the traditional model.
“In 2007 we will be seeking to capitalise on this trend by continuing to offer our fiduciary management solution to the Dutch pension fund market.”
Executive vice president Edward Loughlin added:
“As pensions continue to be more difficult to manage and a distraction from the core business of plan sponsors, organisations are recognizing the advantages in outsourcing plan management functions and reallocating internal resources. We fully expect this trend around the world to accelerate.”
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