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SEI presents long duration credit bond fund

BBR Staff Writer Published 26 June 2013

SEI, a global provider of outsourced fiduciary management investment services, has introduced Long Duration Credit Bond Fund, which enables Canadian pension plan sponsors to improve liability driven investment strategies and minimize pension expense volatility.

Designed in consistent with Fiera Capital's CIA Method Accounting Discount Rate Curve (the Fiera Curve) for consistent yield with the 16-year duration point, the new fund allows plan sponsors to optimize assets with liabilities.

SEI investment management unit senior portfolio manager Scott Gives said that the challenge of implementing an effective investment technology to manage pension expense volatility is enlarged in today's low interest rate, highly volatile market.

"A fund that addresses the long-term nature of pension obligations enhances the ability of plan sponsors to customize their liability driven investment solutions," Gives added.

Investing in Canadian investment-grade corporate, provincial, and municipal debt, the fund tries to generate higher risk-adjusted yield relative to other sectors and risk-free assets.

Through its subsidiaries and partnerships, SEI manages or administers $495bn in mutual fund and pooled or separately managed assets, including $206bn in assets under management and $289bn in client assets under administration, as of 31 March 2013.