OAKS, PA--(Marketwire - Aug 29, 2012) - SEI (NASDAQ: SEIC) today announced that it has completed its first Form PF filing on behalf of a global, multi-billion-dollar hedge fund client. SEI files the Form electronically as part of its multi-faceted Form PF service, designed to help managers ease the time, infrastructure, and expense burdens related to managing the volumes of information necessary to complete the regulatory filing. The complexity and in-depth nature of the filing has driven many fund managers to seek outside expertise and support to meet their Form PF obligations.
Form PF, which last October was jointly adopted by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), requires registered investment advisers to report an unprecedented amount of information -- ranging from liquidity levels, counterparty reporting, and portfolio company statistics to performance statistics, VaR, and collateral data. Most experts agree that tracking and organizing the required data demands careful planning and precise execution, as well as robust data management, normalization, and aggregation capabilities that can provide scale and be repeated consistently for each subsequent filing period. SEI's Form PF solution was designed to help firms managing private funds efficiently gather, aggregate, review, and verify information in an auditable, timely, accurate, and consistent manner -- transforming Form PF into a review and file process, as opposed to purely data collection and management.
"We developed a comprehensive Form PF solution that caters to the individual needs of our alternative fund clients, while eliminating the cost and resource strain that filing would place on their businesses," said Jim Volk, Chief Accounting Officer and Chief Compliance Officer, SEI's Investment Manager Services division. "Our goal is to provide solutions that help our clients focus on what they do best -- managing their assets and servicing their clients."
SEI's Form PF solution leverages the company's robust, integrated platform and infrastructure, while providing clients with access to compliance and support teams. SEI's comprehensive solutions feature the addition of secure, online access to Form PF data via SEI's proprietary web-based Manager Dashboard.
SEI maintains a large portion of the core portfolio-related information that is to be reported on Form PF, including position- and transaction-level data. Depending on the investment manager's legal structure, strategies, complexity, and other requirements, SEI's solution ranges from data management and transmission to data aggregation and reporting.
SEI's Form PF service offering is available to all of its investment manager services clients managing at least $150 million in private fund assets.
About SEI's Investment Manager Services Division
SEI's Investment Manager Services division provides comprehensive operational outsourcing solutions to support investment managers globally across a range of registered and unregistered fund structures, diverse investment strategies and jurisdictions. With expertise covering traditional and alternative investment vehicles, the division applies customized operating services, industry-leading technologies, and practical business and regulatory insights to each client's business objectives. SEI's resources enable clients to meet the demands of the marketplace and sharpen business strategies by focusing on their core competencies. The division has been recently recognized by Buy-Side Technology as "Best Fund Administrator," by Hedge Funds World Middle East as "Best Service Provider," by Global Investor as "Hedge Fund Administrator of the Year," and by HFMWeek as "Best Single Manager Hedge Fund Administrator (Over $30B AUA)" in the U.S. and "Best Administrator -- Technology Provider" in Europe. For more information, visit www.seic.com/ims.
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, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $424 billion in mutual fund and pooled or separately managed assets, including $182 billion in assets under management and $242 billion in client assets under administration. For more information, visit www.seic.com.