SEI Selected by Montag & Caldwell to Provide Outsourcing Services for New UCITS Fund

15 January 2009

SEI (NASDAQ:SEIC) today announced that it has been selected by US-based equity manager Montag & Caldwell to provide outsourcing services for the firm’s newly formed UCITS (Undertakings for Collective Investment in Transferable Securities) fund. The deal points to SEI’s leadership in helping fund managers quickly achieve broader global distribution through UCITS funds. The UCITS directive is a “passport” system that allows managers to operate throughout European Union member nations under a uniform regulatory framework. This allows investment managers to more efficiently distribute their funds across Europe and invest in a wider range of products.

Under the terms of the agreement, SEI will provide administration, accounting and investor servicing, as well as the Irish trustee and custodial services to Montag & Caldwell’s U.S. Equity Large Cap Growth fund. SEI’s global presence and the firm’s expertise in Irish regulatory issues, UCITS in particular, were pointed to as key factors in the selection process.

“SEI’s experience and scalability were critical for us as we sought an outsourcing partner,” said George Northrop, Vice President of Montag & Caldwell. “We had established some good name recognition in the European market as sub-advisor to a similarly managed fund of our former parent company, ABN AMRO. As we looked to establish our own fund, we needed someone that could help us set up quickly, cost effectively, and offer a truly integrated solution. We look forward to partnering with SEI on this and future initiatives.”

“We are seeing more and more managers looking to UCITS as a means of achieving broad European distribution,” said John Alshefski, Senior Vice President and Managing Director for SEI’s Investment Manager Services division. “They are a terrific vehicle for distribution expansion, but firms must also understand the infrastructure and regulatory implications in order to successfully utilise them. We are pleased to help lead Montag & Caldwell through this important new expansion for their business.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development