SEI wins MFS Investment Managment SMA contract

MFS is one of SEI's largest SMA outsourcing relationships to date; the firm ranks among the top U.S. managers in that market segment.

"We are delighted to have won the MFS business, one of the leading investment management organizations in the SMA market space and the entire industry. This win was a true team effort," said John Alshefski, head of New Business Development for SEI's Investment Manager Services. "The confidence MFS has placed in us underscores the advantages of SEI's technology and outsourcing expertise;it also highlights our commitment to separate account administration as an increasingly important part of our business."

SEI is providing MFS with a fully outsourced, customized SMA solution centering on business processes, account administration, and reconciliation. In addition to streamlining administrative functions through electronic workflow and web-accessed real-time account information, the SEI solution enables SMA managers to meet widely varying requirements of non-standardized sponsor platforms, with an ongoing focus on compliance and documentation.

"Given our rate of growth and product expansion, the ability to profitably scale our SMA business is a priority," said Bill Taylor, Managing Director and Senior Vice President of the MFS Private Portfolio Services Group. "We chose SEI's operating environment because we felt they had the best technology to support us from an operating standpoint."

"SEI's separate account solution is designed around the specialized needs of the business, which is operationally complex and demands standardized processes for fulfilling non-standardized sponsor requirements," said Alshefski. "We have combined "best of class" components to create an operating environment that is fully integrated, yet flexible enough to accommodate new products and the ongoing evolution of the SMA business."