SEI (Nasdaq: SEIC) today announced that it has been selected by Turner Investment Partners to provide operations outsourcing services for the firm's separately managed account business.
The deal extends an existing relationship with Turner, for whom SEI has provided mutual fund administration services since 1992. The win marks SEI's continued industry leadership in the SMA outsourcing industry and the overall investment manager outsourcing space.
Under the agreement SEI will provide Turner with an outsourced, customized solution centering on business processes, account administration, reconciliation and reporting. SEI was chosen in a competitive bid process among some of the industry's largest providers. The company's technology expertise and electronic workflow process as well as its track record of success in the SMA space were pointed to as key factors in the selection process.
"We are very pleased to expand our relationship with Turner," said John Alshefski, Senior Vice President, Head of Business Development for SEI's Investment Manager Services division. "SEI is a leader in servicing all investment products. As our clients look to partner with one provider to streamline all their operations, we are in a position to offer our expertise, as well as deliver an integrated approach to servicing a client's entire business. While we won Turner's separately managed account business because of our depth of knowledge, our process and technology, we also believe that it's a testament to the partnership approach we take with our clients and the value we bring to each relationship."