Mon, Feb 27, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

University of Cambridge selects SEI to manage defined contribution benefits

Tuesday, May 07, 2013
Opalesque Industry Update - SEI has announced that the University of Cambridge has selected the SEI Master Trust as a solution for the Defined Contribution (DC) benefits for members of Cambridge University Assistants’ Contributory Pension Scheme (CPS). The SEI Master Trust will act as a top-up pension scheme to the CPS, a Defined Benefit (DB) scheme, for employees joining the CPS arrangement after 1 January 2013. Existing members of CPS will also have the option to invest contributions in the SEI Master Trust.

The SEI Master Trust will provide the University of Cambridge with a bundled, trust-based DC solution, including independent trustee, member administration and investment management. With over six years experience of operating a DC Master Trust in the UK, SEI is able to offer a customised service which will work in tandem with the existing DB arrangements.

Commenting on the appointment, Sue Curryer, Head of Pensions Administration at the University of Cambridge, said: “The scheme’s decision to select the Master Trust for DC was driven by our desire to provide a solution for members that was both flexible and efficient, with a sophisticated default fund. By integrating the SEI Master Trust with CPS we have been able to achieve one of our objectives of risk sharing between the employer and members.”

Commenting on the appointment, Ashish Kapur, Head of Solutions for SEI’s Institutional Group in the European region, said: “We are delighted that CPS has selected the SEI Master Trust. Using the SEI Master Trust to complement the current DB scheme demonstrates the kind of flexibility available to employers who seek to provide DC benefits with minimal disruption to their existing processes. It also shows SEI’s commitment to providing solutions which aim to deliver high quality investment-oversight and governance. We look forward to working closely with CPS in achieving their pension objectives.”

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Legal - Fannie, Freddie shares dive after U.S. appeals court ruling[more]

    From Reuters.com: Shares of Fannie Mae and Freddie Mac tumbled more than 30 percent on Tuesday after a U.S. appeals court shut down efforts by hedge funds and other investors to pursue numerous legal claims accusing the U.S. government of seizing their profits following taxpayer bailouts. By a

  2. Institutional investors plan to raise allocations to alternative assets in 2017[more]

    Komfie Manalo, Opalesque Asia: A survey by Context Summits Miami showed that nearly 72% of institutional investors and family offices plan to raise their allocations to alternative asset managers this year, suggesting continued strong demand for the industry. "As many large, brand name f

  3. Comment - Mortgages, mergers and hedge fund fees, Fairholme's Berkowitz responds to court ruling against hedge fund suits of Fannie Mae[more]

    Mortgages, mergers and hedge fund fees From Bloomberg.com: Yesterday the U.S. Court of Appeals for the D.C. Circuit handed down an odd decision in a lawsuit over the government's nationalization of Fannie Mae and Freddie Mac. The key issue is what's called the "Third Amendment," the 2012

  4. Investing - Hedge funds continue to chase the herd in record Momentum wager, Marshall Wace bets grocer Sainsbury may need rights offering, Hedge fund net exposure has started to retreat, David Tepper's Appaloosa fund makes a huge buy, The 10,000-mile journey to Short Australia, Skeptical hedge fund investors grill Evan Spiegel about Snap's I.P.O.[more]

    Hedge funds continue to chase the herd in record Momentum wager From Bloomberg.com: Hedge funds can't get enough of momentum - even if it means embracing an investing strategy they hate. Loosely defined as betting on shares that went up the fastest over the preceding nine-to-12 months, h

  5. Opalesque Exclusive: Swiss investors take fund seeding and acceleration into their own hands[more]

    Benedicte Gravrand, Opalesque Geneva: Banque Bonhote, a 200-year old Swiss private bank, last year launched a community of investors - heads of Swiss family and advisory offices and wealth managers - with the aim of co-investing in the kind of managers they wanted to invest in, either by way of s