TORONTO, Dec. 9, 2013 /CNW/ - SEI Investments Canada Company, a wholly owned subsidiary of SEI (NASDAQ: SEIC), announced today its intention to officially terminate the 2015 Target Date Fund, 2020 Target Date Fund, 2025 Target Date Fund, 2030 Target Date Fund, and 2040 Target Date Fund (the "Target Date Funds") once applicable notice has been provided to current unitholders. The Target Date Funds will officially terminate no later than December 31, 2013.
Unitholders will continue to have the right to redeem their units in the Target Date Funds prior to the termination date. All units not redeemed prior to the termination date will be automatically redeemed at that time.
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 September 30, 2013, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $529 billion in mutual fund and pooled or separately managed assets, including $219 billion in assets under management and $310 billion in client assets under administration. For more information, visit www.seic.com.