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 & Caldwellâs U.S. Equity Large Cap Growth fund. SEIâs global presence and the firmâs expertise in Irish regulatory issues, UCITS in particular, were pointed to as key factors in the selection process.
âSEIâs experience and scalability were critical for us as we sought an outsourcing partner,â said George Northrop, Vice President of Montag & Caldwell. âWe 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.â
âWe are seeing more and more managers looking to UCITS as a means of achieving broad European distribution,â said John Alshefski, Senior Vice President and Managing Director for SEIâs Investment Manager Services division. âThey 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.â