SEI (NASDAQ:SEIC), a leading global provider of outsourced asset management, investment processing and investment operations solutions, today announced that Oak Associates Ltd. has extended SEI's contract to provide fund accounting, administration and marketing support for the Oak Associates Funds.
SEI has been the outsourcing partner for the funds since its inception in 1992. The fund family was recognized by The Mutual Fund Education Alliance with a 2004, 2005 and 2006 STAR Award for Excellence in Shareholder Communications.
Under the agreement, SEI will provide outsourcing services for the Oak Associates Funds business. In addition to providing fund accounting, administration, marketing, distribution and compliance services, SEI has worked with Oak Associates to develop an award-winning fund website. SEI's proactive client service, as well as the firm's expertise and ability to keep Oak Associates ahead of emerging industry trends, were pointed to as key factors in the contract renewal.
"SEI has been an invaluable partner to us since we launched our funds in 1992 and we're very pleased to continue our longstanding relationship," said Bill White, President of the Oak Associates Funds. "Our goal has always been to provide our shareholders with the highest level of service and value, and SEI has been critical in helping us meet that objective."
"Oak is one of our longest standing client relationships and we take great pride in our ability to serve them effectively as their funds continue to evolve," said Steve Meyer, Executive Vice President, SEI and head of SEI's Investment Manager Services division. "We're looking forward to working with the firm for many years to come to help them continue delivering excellent service to their shareholders."