{"id":457642,"date":"2021-03-15T09:03:43","date_gmt":"2021-03-15T13:03:43","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=457642"},"modified":"2021-03-15T09:03:43","modified_gmt":"2021-03-15T13:03:43","slug":"seis-collective-investment-trust-business-experiences-significant-growth","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/","title":{"rendered":"SEI&#8217;s Collective Investment Trust Business Experiences Significant Growth"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Target-Date Fund CITs Gaining Momentum, SEI&#8217;s CIT Business Benefits from U.S. Retirement Market Trends<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">OAKS, Pa.<\/span>, <span class=\"xn-chron\">March 15, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0SEI (NASDAQ:SEIC), a leading global provider of investment processing, investment management, and investment operations solutions, announced today that its collective investment trust (CIT) business has surpassed <span class=\"xn-money\">$100 billion<\/span> in assets under administration \u00a0\u00a0(AUA) as of <span class=\"xn-chron\">Dec. 31, 2020<\/span>, representing a 20.5% increase in the firm&#8217;s AUA from a year ago.\u00a0Through SEI Trust Company, SEI launched 39\u00a0funds across 11 global investment managers, adding over <span class=\"xn-money\">$17.3 billion<\/span> in CIT assets in 2020. <\/p>\n<p>The growth of SEI&#8217;s CIT business is driven by its established turnkey operational platform and experienced, professional staff, enabling investment managers, retirement plans, consultants and advisors an efficient way to gain access to SEI&#8217;s extensive CIT line-up. SEI&#8217;s growth is further driven by other industry factors, including continued fee pressure and the demand for customized investment solutions for the retirement plan market. Investment managers often work with SEI to establish CIT options pursuing the same strategies as their standard fund offerings. Often these retirement market-focused CITs can be offered at a lower price point than competing products. By doing so, these managers are seeing positive results and meaningful upticks in their retirement businesses.\u00a0 <\/p>\n<p>According to Callan&#8217;s &#8220;2020 Defined Contribution Trends Survey,&#8221; approximately 78% of plan sponsors said last year that CITs are on their investment menus, an 11% increase from 2019. Callan further claims that the number of retirement plans that offer CITs to participants is growing, and in the next few years, that number could surpass that of mutual fund offerings<b>. <\/b>Nearly 60% of plan sponsors surveyed by Callan said they are likely to move to lower-cost investment vehicles in 2021.<b>\u00a0\u00a0<\/b><\/p>\n<p>With the growing trend in product customization, CIT target-date funds are poised to become the target-date vehicle of choice among plan sponsors and investment managers alike. Callan&#8217;s report cited that target-date strategies offered via CITs have played a big part in the vehicle&#8217;s growth. About 40% of all target-date assets, or <span class=\"xn-money\">$800 billion<\/span>, resided in CITs as of <span class=\"xn-chron\">March 2020<\/span>, according to Morningstar&#8217;s &#8220;2020 Target-Date Strategy Landscape&#8221; report. This was up from less than 20% in 2014. \u00a0<\/p>\n<p>&#8220;Many of our clients are adding target-date fund CITs to their investment portfolios to meet the customization requirements of plan sponsors and consultants,&#8221; said <span class=\"xn-person\">John Alshefski<\/span>, Senior Vice President and Managing Director of SEI&#8217;s Investment Manager Services division. &#8220;CITs also offer investment managers and plan sponsor investors access to a wide variety of asset classes and multiple fee classes based on their size and relationship.&#8221;\u00a0 <\/p>\n<p>Nuveen, the global investment manager of TIAA, has benefited from SEI&#8217;s turnkey platform by expanding its target-date fund solution with the addition of the Nuveen TIAA Lifecycle Index CIT series. Nuveen&#8217;s CIT series will further complement the firm&#8217;s existing TDF suite, which includes an offering of active, passive and blended strategies. Nuveen&#8217;s CIT series will now offer a passive target-date strategy in both a mutual fund (TIAA-CREF Lifecycle Index Funds) and a CIT solution. SEI Trust Company is the trustee for Nuveen&#8217;s CIT series, providing them with fiduciary and investment management oversight.<\/p>\n<p>&#8220;Nuveen is aggressively seeking ways to meet the needs of plan sponsors and participants, and we are doing so by enhancing our target-date fund suite with new strategies and products,&#8221; said <span class=\"xn-person\">Jeff Eng<\/span>, Managing Director and Head of Retirement Products at Nuveen.\u00a0 &#8220;With the launch of Nuveen&#8217;s Lifecycle Target Date Blend and Index CIT series, and the benefits of utilizing SEI&#8217;s platform, our firm continues to grow and evolve in the retirement market,&#8221; said Eng.\u00a0<\/p>\n<p>With over 30 years of expertise servicing CITs, SEI&#8217;s turnkey operational platform and its team of dedicated professionals support asset managers&#8217; and plan sponsors&#8217; unique demands. As of <span class=\"xn-chron\">Dec. 31, 2020<\/span>, through SEI Trust Company, SEI services over 450 collective investment funds and 120 collective investment trusts, and works closely with over 135 global asset managers. <\/p>\n<p>\n        <b>About SEI&#8217;s Investment Manager Services Division<\/b>\u00a0<br \/>SEI&#8217;s Investment Manager Services supplies investment organizations of all types with advanced operating infrastructure they must have to evolve and compete in a landscape of escalating business challenges. SEI&#8217;s award-winning global operating platform provides investment managers and asset owners with customized and integrated capabilities across a wide range of investment vehicles, strategies and jurisdictions. Our services enable users to gain scale and efficiency, keep pace with marketplace demands, and run their businesses more strategically. SEI partners with more than 550 traditional and alternative asset managers, as well as sovereign wealth funds and family offices, representing nearly <span class=\"xn-money\">$30 trillion<\/span> in assets, including 49 of the top 100 asset managers worldwide*. For more information, visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3095887-1&amp;h=3408542241&amp;u=https%3A%2F%2Fseic.com%2Fims%2F%3Futm_source%3Duswire%26utm_medium%3Dpressrelease%26utm_campaign%3D210258_IMS21_US_ims2021citrelease&amp;a=seic.com%2Fims\" rel=\"nofollow noopener noreferrer\">seic.com\/ims<\/a>. <\/p>\n<p>*Based on Pensions &amp; Investments&#8217; &#8220;Largest Money Managers&#8221; 2019 ranking.<\/p>\n<p>\n        <b>About SEI Trust Company<br \/><\/b>SEI Trust Company (the &#8220;Trustee&#8221;) serves as the Trustee of the Fund and maintains ultimate fiduciary authority over the management of, and the investments made, in the Fund. The Fund is part of a Collective Investment Trust (&#8220;the Trust&#8221;) operated by the Trustee.\u00a0 The Trustee is a trust company organized under the laws of the Commonwealth of <span class=\"xn-location\">Pennsylvania<\/span> and a wholly owned subsidiary of SEI Investments Company (SEI).<\/p>\n<p>\n        <b>About SEI<br \/><\/b>After 50 years in business, SEI (NASDAQ:SEIC) remains a leading global provider of investment processing, investment management, and investment operations solutions designed to help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of <span class=\"xn-chron\">Dec. 31, 2020<\/span>, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers approximately <span class=\"xn-money\">$1 trillion<\/span> in hedge, private equity, mutual fund and pooled or separately managed assets, including approximately <span class=\"xn-money\">$369 billion<\/span> in assets under management and <span class=\"xn-money\">$787 billion<\/span> in client assets under administration. For more information, visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3095887-1&amp;h=2153778891&amp;u=https%3A%2F%2Fseic.com%2F%3Futm_source%3Duswire%26utm_medium%3Dpressrelease%26utm_campaign%3D210258_IMS21_US_ims2021citrelease&amp;a=seic.com\" rel=\"nofollow noopener noreferrer\">seic.com<\/a>.<\/p>\n<p>\n        <b>About Nuveen<\/b>\u00a0<br \/>Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has <span class=\"xn-money\">$1.2 trillion<\/span> in assets under management as of <span class=\"xn-chron\">31 Dec 2020<\/span> and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit <a href=\"http:\/\/www.nuveen.com\" rel=\"nofollow\">www.nuveen.com<\/a>.<\/p>\n<p>\n        <i>The Trust is for the collective investment of assets or participating tax qualified pension and profit sharing plans and related trusts, and government plans as more fully described in the Declaration of Trust. As bank collective trusts, the Trust is exempt from registration as an investment company.\u00a0 The Trust is managed by SEI Trust Company, the trustee, based on the investment advice of Nuveen Fund Advisors, LLC and its affiliated advisers who serve as sub-advisers to certain CITs.\u00a0 For more information, please see the offering documents for the Trust, available from SEI Trust Company. <\/i>\n      <\/p>\n<div>\n<table id=\"convertedTable39c0\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt0 prnsbr0 prnbcc prnsbb0 prnsbl0\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Company Contact:<\/u><br \/>\n                  <\/b><br \/>\n                  <b>\u00a0\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <u>Media Contact:<\/u><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Leslie Wojcik\u00a0\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Eric Hazard<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">SEI\u00a0\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Vested<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">+1 610-676-4191\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">+1 214-734-8203<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:lwojcik@seic.com\" class=\"prnews_a\" rel=\"nofollow noopener noreferrer\">lwojcik@seic.com<\/a>\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:eric@fullyvested.com\" class=\"prnews_a\" rel=\"nofollow noopener noreferrer\">eric@fullyvested.com<\/a><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH08582&amp;sd=2021-03-15\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/seis-collective-investment-trust-business-experiences-significant-growth-301246794.html\">http:\/\/www.prnewswire.com\/news-releases\/seis-collective-investment-trust-business-experiences-significant-growth-301246794.html<\/a><\/p>\n<p>SOURCE  SEI Investments Company<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=PH08582&amp;Transmission_Id=202103150900PR_NEWS_USPR_____PH08582&amp;DateId=20210315\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Target-Date Fund CITs Gaining Momentum, SEI&#8217;s CIT Business Benefits from U.S. Retirement Market Trends PR Newswire OAKS, Pa., March 15, 2021 \/PRNewswire\/ &#8212;\u00a0SEI (NASDAQ:SEIC), a leading global provider of investment processing, investment management, and investment operations solutions, announced today that its collective investment trust (CIT) business has surpassed $100 billion in assets under administration \u00a0\u00a0(AUA) as of Dec. 31, 2020, representing a 20.5% increase in the firm&#8217;s AUA from a year ago.\u00a0Through SEI Trust Company, SEI launched 39\u00a0funds across 11 global investment managers, adding over $17.3 billion in CIT assets in 2020. The growth of SEI&#8217;s CIT business is driven by its established turnkey operational platform and experienced, professional staff, enabling investment managers, retirement plans, consultants and advisors an efficient &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SEI&#8217;s Collective Investment Trust Business Experiences Significant Growth&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-457642","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEI&#039;s Collective Investment Trust Business Experiences Significant Growth - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEI&#039;s Collective Investment Trust Business Experiences Significant Growth - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Target-Date Fund CITs Gaining Momentum, SEI&#8217;s CIT Business Benefits from U.S. Retirement Market Trends PR Newswire OAKS, Pa., March 15, 2021 \/PRNewswire\/ &#8212;\u00a0SEI (NASDAQ:SEIC), a leading global provider of investment processing, investment management, and investment operations solutions, announced today that its collective investment trust (CIT) business has surpassed $100 billion in assets under administration \u00a0\u00a0(AUA) as of Dec. 31, 2020, representing a 20.5% increase in the firm&#8217;s AUA from a year ago.\u00a0Through SEI Trust Company, SEI launched 39\u00a0funds across 11 global investment managers, adding over $17.3 billion in CIT assets in 2020. The growth of SEI&#8217;s CIT business is driven by its established turnkey operational platform and experienced, professional staff, enabling investment managers, retirement plans, consultants and advisors an efficient &hellip; Continue reading &quot;SEI&#8217;s Collective Investment Trust Business Experiences Significant Growth&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-15T13:03:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH08582&amp;sd=2021-03-15\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seis-collective-investment-trust-business-experiences-significant-growth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seis-collective-investment-trust-business-experiences-significant-growth\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SEI&#8217;s Collective Investment Trust Business Experiences Significant Growth\",\"datePublished\":\"2021-03-15T13:03:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seis-collective-investment-trust-business-experiences-significant-growth\\\/\"},\"wordCount\":1128,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seis-collective-investment-trust-business-experiences-significant-growth\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=PH08582&amp;sd=2021-03-15\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seis-collective-investment-trust-business-experiences-significant-growth\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seis-collective-investment-trust-business-experiences-significant-growth\\\/\",\"name\":\"SEI's Collective Investment Trust Business Experiences Significant Growth - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/","og_locale":"en_US","og_type":"article","og_title":"SEI's Collective Investment Trust Business Experiences Significant Growth - Market Newsdesk","og_description":"Target-Date Fund CITs Gaining Momentum, SEI&#8217;s CIT Business Benefits from U.S. Retirement Market Trends PR Newswire OAKS, Pa., March 15, 2021 \/PRNewswire\/ &#8212;\u00a0SEI (NASDAQ:SEIC), a leading global provider of investment processing, investment management, and investment operations solutions, announced today that its collective investment trust (CIT) business has surpassed $100 billion in assets under administration \u00a0\u00a0(AUA) as of Dec. 31, 2020, representing a 20.5% increase in the firm&#8217;s AUA from a year ago.\u00a0Through SEI Trust Company, SEI launched 39\u00a0funds across 11 global investment managers, adding over $17.3 billion in CIT assets in 2020. The growth of SEI&#8217;s CIT business is driven by its established turnkey operational platform and experienced, professional staff, enabling investment managers, retirement plans, consultants and advisors an efficient &hellip; Continue reading \"SEI&#8217;s Collective Investment Trust Business Experiences Significant Growth\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-15T13:03:43+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH08582&amp;sd=2021-03-15","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SEI&#8217;s Collective Investment Trust Business Experiences Significant Growth","datePublished":"2021-03-15T13:03:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/"},"wordCount":1128,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH08582&amp;sd=2021-03-15","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/seis-collective-investment-trust-business-experiences-significant-growth\/","name":"SEI's Collective Investment Trust Business Experiences Significant Growth - 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