SEI's Advisors' Inner Circle Fund Reaches $100 Billion in Net Assets

Exchange-traded, Interval, and Tender-Offer Funds Present Growth Opportunities for Investment Managers

OAKS, Pa., Aug. 28, 2024 /PRNewswire/ -- SEI^® (NASDAQ:SEIC) today announced that the Advisors' Inner Circle Fund^® (AIC) series trust reached $100 billion in net assets, supporting 47 clients and 128 funds.¹ An end-to-end operational platform, the AIC provides investment managers of all sizes a more cost-effective solution to launch and operate new and existing registered funds.

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 $9.2 trillion in total assets under management, ETF assets increased 25% from a year ago, representing significant growth.² Overall growth for interval and tender-offer funds has been robust and consistent, with net assets increasing 24.2% from first quarter 2023 to first quarter 2024. During the first quarter of 2024, interval and tender-offer funds gained $10.6 billion in net assets.² Capitalizing on these trends, investment managers are outsourcing their fund operations and oversight in order to focus on their investment expertise and business growth.

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 $1.5 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. 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.

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SOURCE SEI Investments Company