SEI Investments Company (NASDAQ: SEIC) exhibited remarkable resilience in the US stock market despite recent insider selling activities. During the most recent trading session, the stock held steady and saw a slight rise of 0.50% to close at $65.86.
Sanjay Sharma, Executive Vice President and Global Head of Private Banking & Wealth Management at SEI Investments (SEIC), sold 15,000 shares at a price of $67.20 per share, or about $1 million, during insider selling, as revealed in a filing with the Securities and Exchange Commission (SEC) on Wednesday.
Despite this divestment, SEIC’s strategic business endeavors have evidently contributed to maintaining the stock’s stability on the US stock market charts. In a notable development, SEI recently announced its role as trustee for four collective investment trusts (CITs) established by Pictet Asset Management, a distinguished European asset management firm, in the US institutional retirement market.
Pictet Asset Management, renowned for its active management expertise spanning over two centuries, manages a substantial $237 billion in distinctive global strategies. The growing adoption of CITs among European and global asset managers underscores their appeal in attracting fresh capital and broadening distribution efforts within the US retirement market.
Beyond cost efficiency, CITs offer advantages such as investment flexibility, enhanced availability, transparency, and reduced account minimums, which resonate well with retirement plan sponsors. Asset managers, including Pictet Asset Management, are diversifying their distribution channels by introducing multiple share classes across various asset categories and investment strategies.
SEIC’s robust operational infrastructure and seasoned team empower global investment managers, retirement plans, consultants, and advisors to seamlessly access its comprehensive CIT lineup. The collaboration with Pictet Asset Management underscores SEI’s commitment to serving the global market and fostering mutual growth through CIT initiatives.
With over three decades of specialization in CIT servicing, SEI’s turnkey operational platform and dedicated professionals are adept at addressing the unique requirements of asset managers and plan sponsors alike.
SEI’s distinctive positioning offers global managers unparalleled expertise and access to a wide array of capabilities, facilitating the realization of international distribution objectives. The partnership with Pictet Asset Management exemplifies SEI’s dedication to driving future growth through CIT-focused endeavors.
