SEI Trust Company has joined hands with The London Company, an employee-owned registered investment advisor, to launch a new equity collective investment trust (CIT).
The London Company will act as an advisor to a newly created Small-Mid Equity Collective Trust, while SEI Trust Company will act as the trustee, an ERISA 3(38) fiduciary investment manager as well as provide accounting and administrative functions for the CIT.
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The London Company Small-Mid Equity Collective Trust has been designed to satisfy market demand for a daily-valued equity CIT product. The launch aims to strengthen The London Company’s retirement market presence.
The London Company founder & managing principal Stephen Goddard said: "CITs are a simplified and low-cost investment vehicle for an increasingly sophisticated institutional market.
"Our partnership with SEI Trust Company will help us efficiently cater to the market’s demand for CIT products by leveraging SEI’s proven, comprehensive and fully integrated CIT solution."
The London Company currently manages approximately $10bn in assets under management with strategies focusing on U.S. equity management across all market capitalizations.
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By GlobalDataSEI Trust Company offers services to more than 130 CITs representing over $25bn in assets.
