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SEI Poll: Majority of Pension Schemes Feel Current Governance Structures Aren't Working

LONDON--(Marketwired - Jul 23, 2013) - The results of a poll published by SEI ( NASDAQ : SEIC ) reveal U.K. pension schemes are not satisfied with current governance structures. Over half (56 percent) of those surveyed felt their current governance structure does not allow them to easily take advantage of market conditions to improve their funding levels, with many trustees unable to make informed and timely decisions due to a lack of resources, including limitations of time and/or expertise.

Nearly two-thirds (65 percent) of respondents revealed plans to review their investment consultant within the next three years and a further 28 percent over the coming 12 months, demonstrating an appetite for change amongst trustees.

Almost a third (30 percent) of those surveyed did not think their investment consultant offers value for the money spent. Reducing the increased costs associated with running a pension scheme is a prominent concern for pension trustees. For some, there is a perceived lack of transparency around the costs associated with traditional investment consultants who often charge separately for investment reviews, manager changes, and ongoing support, and who are not fully accountable to the scheme.

The findings also revealed that 21 percent of respondents have used the same investment consultant for more than 10 years, suggesting some inertia amongst trustees in reviewing and evaluating their existing scheme governance structure.

Commenting on the results of the poll, Ian Love, Managing Director of UK Institutional Business Development, said:

"The results of this poll confirm that pension trustees and professionals are operating in an extremely challenging environment. Faced with unrelenting volatility, mounting deficits, and an increasingly fast-paced investment environment, trustees are starting to recognize they may need a different model to meet their scheme funding goals."

SEI's poll, conducted in April 2013, was completed by 41 U.K. pension professionals overseeing pension schemes ranging in asset size from £25 million to over £1 billion. None of the poll participants were clients of SEI. To receive a full copy of the results of the poll please email: institutions@seic.com

About SEI's Institutional Group
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 modeling, investment management, risk monitoring and stress testing, active liability-focused investing and integrated goals-based reporting. For more information visit: http://www.seic.com/enUK/institutional-investors.htm.

About SEI
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 www.seic.com.

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.

No offer of any security is made hereby. Recipients of this information who intend to apply for shares in any SEI Fund are reminded that any such application may be made solely on the basis of the information contained in the Prospectus.