OAKS, PA — SEI® (NASDAQ: SEIC) recently submitted an application to the Securities and Exchange Commission (SEC) seeking approval for an ETF multi-share class structure for its mutual fund administration and distribution platform. If approved, SEI’s exemption would allow investment advisors on its Advisors’ Inner Circle Fund® (AIC) platform to adopt this fund structure without the additional cost and delay of filing their own applications.
The proposed structure addresses increasing industry demand for ETF multi-share class models, which combine exchange-traded fund (ETF) and mutual fund features to offer financial flexibility and reduced operational costs. SEI, which supports mutual fund administration for 45 clients and 121 funds with over $100 billion in assets, aims to bring this capability to investment advisors across its AIC platform.
“We’ve always been committed to enabling our clients’ success by evolving our platform to provide the operational infrastructure and expertise that help them meet investors’ demands and remain competitive in an evolving industry,” said Mike Beattie, Managing Director of SEI’s Investment Managers business. “With a strong demand for the ETF multi-share class structure from the unaffiliated third-party investment advisors on our AIC platform, we believe we can more efficiently deliver this model’s benefits through our approach to this filing.”
SEI collaborated with Chapman and Cutler and KCG Advisory Group, LLC to prepare the SEC filing. The move underscores SEI’s commitment to innovation and enhancing services for its clients and partners in the financial industry.
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