SEI expands offering to cover ETFs
28 June 2019 Pennsylvania
Image: Shutterstock
SEI has extended its Advisors’ Inner Circle Fund Trust (AIC) platform to cover exchange-traded funds (ETFs).
The decision to broaden the AIC solution’s trust operational infrastructure follows the Securities and Exchange Commission’s (SEC) grant of exempt relief to “actively-managed, non-transparent” ETFs, which is expected to provide an uptick to the ETF industry.
Changes to the scope of the AIC platform will provide tools to asset managers interested in ETFs, such as leveraging SEI’s operating structure and service solution, as well as an independent board overseeing fund administration, accounting, investor servicing and distribution services.
Rob Owens, managing director, investment manager services, SEI, commented: “As a result of the SEC’s ETF-related regulatory developments, we believe the asset management industry will likely experience new demand from registrants interested in entering the ETF space and an increase in non-transparent, active ETF fund launches.”
Mike Beattie, managing director, investment manager services, and president, AIC, added: “The AIC platform provides managers access to an independent board of trustees, legal counsel and a COO, as well as the financial benefits of sharing trust-level expenses with other platform members.”
He continued: “Managers will also benefit from an experienced, strategic relationship manager and cost-effective access to the industry’s best auditors and custodians.”
The decision to broaden the AIC solution’s trust operational infrastructure follows the Securities and Exchange Commission’s (SEC) grant of exempt relief to “actively-managed, non-transparent” ETFs, which is expected to provide an uptick to the ETF industry.
Changes to the scope of the AIC platform will provide tools to asset managers interested in ETFs, such as leveraging SEI’s operating structure and service solution, as well as an independent board overseeing fund administration, accounting, investor servicing and distribution services.
Rob Owens, managing director, investment manager services, SEI, commented: “As a result of the SEC’s ETF-related regulatory developments, we believe the asset management industry will likely experience new demand from registrants interested in entering the ETF space and an increase in non-transparent, active ETF fund launches.”
Mike Beattie, managing director, investment manager services, and president, AIC, added: “The AIC platform provides managers access to an independent board of trustees, legal counsel and a COO, as well as the financial benefits of sharing trust-level expenses with other platform members.”
He continued: “Managers will also benefit from an experienced, strategic relationship manager and cost-effective access to the industry’s best auditors and custodians.”
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