Fin tech organisation SEI has launched a new package of services aimed at supporting large institutional investors that have made a strategic decision to insource investment management.
Enhanced CIO, as the offering has been dubbed, is a suite of services across investment processing, investment operations, and investment management.
“We’ve offered some of the components to institutions before, but never this combination,” said Kevin Matthews, vice president, strategic growth initiatives, in SEI’s institutional group.
“Many of the investment teams we speak with are focused on having their team build out investment acumen and have people they’re hiring have expertise on manager selection or portfolio construction, but they haven’t always wanted to build out their own internal operations team or even if they have an individual or two doing operations it still can be a burden.
“We’re offering a bundle where there is a lot of ability to customise the solution we bring to their office in order to make them more efficient and cost effective than if they try to build out internally by doing a lot of these things themselves.”
Specific services can include aggregating and reconciling portfolio data, asset allocation studies, risk management, detailed manager due diligence reports and consolidating performance reporting across all asset classes.
Kris Shergold, regional director within SEI’s UK institutional business development team, said the new offering allowed institutional investors to access some of the processing and technologies that the world’s largest asset managers and banking organisations had access to.
SEI, which in the UK and Europe is best known as a fiduciary manager, estimates the size of the ECIO target market, excluding the US, at $17trn (€14trn), Matthews told IPE.