SEI Appointed as Fiduciary Manager by the Cooper-Avon Tyres Limited Pension Plan
(firmenpresse) - LONDON -- (Marketwired) -- 07/29/13 -- (NASDAQ: SEIC) today announced that it has been appointed as by the Trustees of the Cooper-Avon Tyres Limited Pension Plan (Cooper Tyres) pension scheme. SEI will act as fiduciary manager for the assets of Cooper Tyre's £ 160 million defined benefit scheme in the U.K. The company sponsor, Cooper Tire and Rubber Company, is one of the largest providers of replacement tires in the world. SEI secured the appointment as the result of a competitive selection process, which included, amongst others, Cooper Tyre's existing investment consultant.
SEI will provide Cooper Tyres with strategic investment advice and full implementation of a bespoke investment strategy and journey plan (de-risking/re-risking plan) designed to meet the company's funding goals. SEI will also manage the scheme's day-to-day investment strategy including: selection and replacement of managers, tactical asset allocation, journey plan implementation, funding level monitoring, and reporting.
"We decided to appoint a fiduciary manager because we wanted to be best positioned to seize opportunities in the market and delegate the day-to-day management of our pension scheme, allowing the Trustees to focus on strategic issues. We were also keen to proactively manage the scheme's funding level to ensure we have the best chance of meeting our goals. Since appointing SEI, we have been very pleased with the relationship and are particularly impressed with SEI's dedication to shouldering the day-to-day work load of the scheme."
"We are delighted that the Trustees of the Cooper Tyres scheme appointed SEI. This win comes on the heels of an extremely positive first half of the year for SEI, which clearly reflects the growing acceptance of solutions like fiduciary management that focus on managing pension scheme funding levels. We look forward to working with Cooper Tyres to achieve their objectives."
SEI's Institutional Group is one of the first and largest global providers of outsourced fiduciary management investment services. The company began offering these services in 1992 and today acts as a fiduciary manager to more than 450 retirements, non-profit and healthcare clients in seven different countries. Through a flexible model designed to help our clients achieve financial goals, we provide asset allocation advice and modelling, investment management, risk monitoring and stress testing, active liability-focused investing and integrated goals-based reporting. For more information visit: .
SEI (NASDAQ: SEIC) is a leading global provider of investment processing, fund processing, and investment management business outsourcing solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of June 30, 2013, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $507 billion in mutual fund and pooled or separately managed assets, including $204 billion in assets under management and $303 billion in client assets under administration. For more information, visit .
This information is issued by SEI Investments (Europe) Limited, 4th Floor, Time & Life Building 1 Bruton Street, London W1J 6TL which is authorized and regulated by the Financial Conduct Authority.
Tobias Hilton
SEI
+44 0207 518 3641
Sara Lyons
MHP Communications
+44 (0)203 128 8519
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Datum: 29.07.2013 - 07:00 Uhr
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