Dublin-based SEI Global Fund Services Limited announced today that SEI will provide fund administration, fund accounting, shareholder servicing, trustee and custodial services to all funds within Skandia Global Funds range. The Skandia Global range, which comprises 20 funds with a current total asset value of in excess of $1.0 billion, will be distributed globally via a broker network, initially in the Americas and Europe and later in the Far East.
The services provided by SEI to the Skandia global range are an expansion of a relationship between Skandia and SEI that was established in July 2000. Since then, SEI has provided solutions for the original 10 funds in the Skandia global range.
The Global Fund Services division of SEI was established in Dublin in 1995 to provide fund administration, accounting, transfer agency and shareholder servicing, trustee and custodial services, and legal support services for mutual funds and hedge funds.
Commenting on the expansion of their relationship with Skandia, Robert Aller, Managing Director, European Financial Institutions, said: “We are pleased to partner with Skandia to provide further services for their global funds. The relationship reflects the rising demand from investment management firms to outsource their administration, accounting and custodial services in order to concentrate on their core competencies. This new mandate demonstrates how successful the relationship has been. Our solutions helped Skandia meet their operational challenges allowing them to grow, service and retain their client base.”