SEI announces that unitholders of U.S. Large Cap Synthetic Fund approve mandate changes
TORONTO, May 24, 2013 /CNW/ - SEI Investments Canada Company, a wholly owned subsidiary of SEI Investments Company (NASDAQ: SEIC), today announced that unitholders of the U.S. Large Cap Synthetic Fund have approved changes to the Fund's investment objectives, which was voted on at the special meeting of unitholders held on May 24, 2013, in Toronto.
The U.S. Large Cap Synthetic Fund, which will be renamed the U.S. Large Cap Index Fund, will aim to achieve a return that is similar to the performance of the S&P 500 Index. To accomplish its investment objective, the Fund will seek to replicate the performance of the S&P 500 Index by investing primarily in securities listed in the S&P 500 Index and will generally give the same weight to a given stock as the S&P 500 Index does.
The changes will be implemented on or about July 15, 2013. The U.S. Large Cap Synthetic Fund is a Canadian-based fund; this vote does not impact U.S.-based fund holders of SEI funds.
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 March 31, 2013, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $495 billion in mutual fund and pooled or separately managed assets, including $206 billion in assets under management and $289 billion in client assets under administration. For more information, visit www.seic.com.
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