SEI's Advisors' Inner Circle Fund Reaches $100 Billion in Net Assets
Rhea-AI Summary
SEI (NASDAQ:SEIC) announced that its Advisors' Inner Circle (AIC) series trust has reached $100 billion in net assets, supporting 47 clients and 128 funds. The AIC provides investment managers with a cost-effective solution to launch and operate registered funds, including mutual funds, ETFs, interval, and tender-offer funds. This milestone reflects AIC's position as a leading turnkey platform for '40 Act vehicles.
The industry is experiencing significant growth, with ETF assets increasing 25% year-over-year to $9.2 trillion, and interval and tender-offer funds seeing a 24.2% increase in net assets from Q1 2023 to Q1 2024. Investment managers are increasingly outsourcing fund operations to focus on their core expertise and business growth.
Positive
- AIC series trust reached $100 billion in net assets, supporting 47 clients and 128 funds
- ETF assets increased 25% year-over-year to $9.2 trillion
- Interval and tender-offer funds saw a 24.2% increase in net assets from Q1 2023 to Q1 2024
- AIC platform expanded to include ETFs, interval, and tender-offer funds, capitalizing on market trends
Negative
- None.
News Market Reaction
On the day this news was published, SEIC gained 0.55%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Exchange-traded, Interval, and Tender-Offer Funds Present Growth Opportunities for Investment Managers
SEI helped pioneer the series trust concept 33 years ago by introducing the AIC, an institutional-quality, turnkey operating platform. The AIC has significantly expanded its operations over the years from mutual funds to include ETFs, interval, and tender-offer funds. This new milestone reflects the AIC's position as one of the industry's leading and most established turnkey platforms for '40 Act vehicles.
Charles Falck, Chief Operating Officer of GQG Partners, said:
"We're extremely pleased with our long-term relationship with SEI and the Advisors' Inner Circle platform. They provided the expertise we needed to launch and operate our mutual funds, which contributed significantly to our success. SEI's team is committed to delivering exemplary client service and continue to support our growth."
Shifting investor preference in product types, asset allocation, and investment choice presents growth opportunities across the industry. With 3,618 funds and
Jeff Cullen, Managing Director at Cullen Capital Management, said:
"We recently launched our first active ETF on the Advisors' Inner Circle Fund series trust, which efficiently addressed the complexities associated with ETFs. The AIC is an established, proven operational platform that provides us with the infrastructure and expertise we need to go to market and serve our clients."
Mike Beattie, Managing Director of SEI's Investment Managers business, said:
"The primary contributor to the Advisors' Inner Circle platform's success is our clients and their evolving product needs. We're proud to support their businesses by providing them with the operational infrastructure and expertise needed to seize market trends and meet investor demands. We thank them for their trust and strategic partnership, and we look forward to delivering on our commitment to support their continued success and business growth."
1 As of June 30, 2024
2 FUSE market research data as of June 30, 2024
About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of June 30, 2024, SEI manages, advises, or administers approximately
About SEI's Investment Managers business
SEI's Investment Managers business provides advanced operating infrastructure for investment organizations of all types to evolve and compete in a landscape of escalating business challenges. SEI's global operating platform delivers customized and integrated capabilities across a wide range of investment vehicles, strategies, and jurisdictions to investment managers and asset owners. 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 320* traditional asset managers, alternative managers, and sovereign wealth managers, including 43 of the top 100 asset managers worldwide**.
*Does not include family office clients.
**Based on Pensions & Investments' Largest Money Managers 2023 ranking.
Company Contact:
Emily Baldwin | Media Contact:
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SOURCE SEI Investments Company
FAQ
What milestone did SEI's Advisors' Inner Circle (AIC) series trust reach in 2024?
How much did ETF assets increase according to the SEI (SEIC) press release?
What was the growth rate for interval and tender-offer funds from Q1 2023 to Q1 2024?
What types of funds does SEI's Advisors' Inner Circle (AIC) platform support?
