Brown Advisory Selects SEI to Launch First ETF

SEI's Turnkey Operational Platform and Comprehensive Suite of Services Provide Scale and Stability

OAKS, Pa., Nov. 18, 2024 /PRNewswire/ -- SEI^® (NASDAQ:SEIC) today announced that Brown Advisory selected the Advisors' Inner Circle Fund^® (AIC) series trust as its operational platform to launch the Brown Advisory Flexible Equity ETF (NASDAQ:BAFE), the firm's first ETF. A fundamental active strategy focused on U.S. companies, Brown Advisory's Flexible Equity ETF is managed by a tenured team with an existing footprint in mutual funds and separately managed accounts (SMAs).

Brown Advisory's fund launches as the U.S. ETF market maintains a strong growth rate, reaching a record high of $10 trillion at the end of September.¹ Institutional asset managers, such as Brown Advisory, have driven growth in recent years, bringing to market established strategies and entering the market with significant assets due to the conversion of SMAs or mutual funds. The BAFE ETF was launched through the conversion of taxable SMAs.

Chris Bartlett, Head of the Institutional business of Brown Advisory, said:

"We chose to partner with SEI through the Advisors' Inner Circle platform because they offer an established, proven infrastructure, high-touch service, specialist resources, and a knowledge transfer model that supports our long-term plans in ETFs. ETFs afford multi-dimensional benefits to our clients, and we view SMA conversions as a unique tool to accomplish a tax-efficient transition to a tax-efficient vehicle. The conversion required a significant level of care, coordination, and due diligence, and SEI has been a strong strategic partner in this important initiative."

John Alshefski, Senior Vice President and Head of SEI's Traditional Investment Managers business, said:

"We're excited to welcome Brown Advisory to the Advisors' Inner Circle Fund Trust and believe the ETF marketplace and ecosystem will celebrate the entry of this unique manager. We're committed to supporting Brown Advisory's growth and look forward to building a long-term relationship."

SEI helped pioneer the series trust concept more than 30 years ago with the launch of the AIC. As of Sept. 30, 2024, the platform has over $103 billion in net assets, serving 45 clients and 121 funds. Today, the AIC enables investment organizations to rapidly launch and grow mutual funds, ETFs, interval funds, and tender offer funds without having to build their own fund operating infrastructure.

¹ ETFGI, "ETFGI report assets invested in the ETFs industry in the United States reached a new record high of 10 trillion U.S. Dollars at the end of September." Oct. 16, 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 Sept. 30, 2024, SEI manages, advises, or administers approximately $1.6 trillion in assets. For more information, visit seic.com.

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. The company's 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.** For more information, visit seic.com/ims.

*Does not include family office clients.

**Based on Pensions & Investments' "Largest Money Managers" 2023 ranking.

Important Information

Before investing you should carefully consider a Fund's investment objectives, risks, charges, and expenses. This and other information is in the summary or statutory prospectus, a copy of which may be obtained by calling 1-800-540-6807. Please read the prospectus carefully before you invest.

All investments involve risk, including possible loss of principal.

The Brown Advisory Flexible Equity ETF is distributed by SEI Investments Distribution Co. (SIDCO). The Fund is managed by Brown Advisory Inc. SIDCO is not affiliated with Brown Advisory Inc.

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SOURCE SEI Investments Company