MetLife Investment Management Broadens Investor Access to Public Fixed Income Strategies
MetLife Investment Management (MIM) has completed the first phase of a Collective Investment Trust (CIT) in collaboration with SEI Trust Company. This new CIT platform aims to enhance access to MIM's Public Fixed Income strategies, particularly for the defined contribution market. MIM's CITs include various trusts focused on short duration, intermediate credit, core fixed income, high yield, and emerging market debt. The firm reports a substantial growth in unaffiliated institutional client assets under management, nearly doubling since 2017 to $66.4 billion.
- Completion of the first phase of the CIT offering with SEI Trust Company.
- Expansion of investor access to public fixed income strategies.
- Unaffiliated institutional AUM increased to $66.4 billion as of March 31, 2021.
- None.
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced it has completed the first phase of a Collective Investment Trust (CIT) offering with SEI Trust Company (STC) as the CIT Trustee. MIM’s suite of CITs will expand investor access to its Public Fixed Income strategies and capabilities, particularly for the defined contribution market.
Jude Driscoll, head of Public Fixed Income for MetLife Investment Management, said: “This CIT platform is a natural extension of MIM’s existing capabilities. For more than 20 years we have built a successful business managing pension and other institutional client assets, and as the defined benefit and defined contribution markets evolve, we recognize the need for a holistic defined contribution platform that encompasses a range of strategies.”
The full MetLife Investment Management family of CITs include:
- MetLife Short Duration 1-3 Year Collective Trust
- MetLife Short Duration 1-5 Year Collective Trust
- MetLife Intermediate Credit Collective Trust
- MetLife Credit Collective Trust
- MetLife Core Fixed Income Collective Trust
- MetLife Core Plus Collective Trust
- MetLife Long Credit Collective Trust
- MetLife Long Government/Credit Collective Trust
- MetLife High Yield Collective Trust
- MetLife High Yield Mid-Grade Collective Trust
- MetLife Emerging Market Debt Collective Trust
- MetLife Multi-Sector Opportunistic Collective Trust
“Plan sponsors and their consultants are keenly aware that plan participants are looking for growth opportunities and yield before and after retirement. We believe that our platform, which includes strategies across the yield curve and asset classes, offers retirement plans a range of options to help attain their goals,” added Driscoll.
MIM’s CIT offering complements the firm’s existing separately managed account strategies available to clients, and represents the latest milestone in the growth of MIM’s Public Fixed Income platform, which now includes 141 investment professionals around the world and a portfolio management team averaging 23 years’ industry experience.
“Our philosophy and process remain steadfast, with a focus on generating attractive risk-adjusted returns through a fully integrated team approach that leverages proprietary fundamental research and active trading. We believe our team-based culture and deep credit experience will help to enhance outcomes for plan participants,” said Driscoll. “Looking ahead, we will continue to evaluate the ever-changing market to carefully manage our range of fixed income strategies and drive real value for our clients.”
Public Fixed Income unaffiliated institutional client assets under management (AUM) have almost doubled since the MetLife, Inc. acquisition of Logan Circle Partners in 2017, reaching
About MetLife Investment Management
MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global public fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and as of March 31, 2021 had
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About SEI Trust Company
SEI Trust Company (the "Trustee") serves as the Trustee and maintains ultimate fiduciary authority over the management of, and the investments made, in the CITs. The Trustee is a trust company organized under the laws of the Commonwealth of Pennsylvania and wholly owned subsidiary of SEI Investments Company (SEI).
The MetLife Investment Management Collective Investment Trusts are trusts for the collective investment of assets or participating tax qualified pension and profit sharing plans and related trusts, and governmental plans as more fully described in the Declaration of Trust. As bank collective trusts, the MetLife Investment Management Collective Investment Trusts are exempt from registration as an investment company. The MetLife Investment Management Collective Investment Trusts are managed by SEI Trust Company, the trustee, based on the investment advice of MetLife Investment Management, LLC, the investment adviser to the trusts.
Forward-Looking Statements
The forward-looking statements in this news release, such as “expand,” “offers,” “attain,” “preserving,” “generating,” “enhance,” “will,” and “drive,” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it has no obligation to correct or update any of these statements.
Endnotes
1 As of March 31, 2021. At estimated fair value. Includes all assets managed by MIM in MIM's public fixed income third-party strategies (including assets managed in the public fixed income investment strategies show above and certain other MIM public fixed income investment strategies).
2 As of March 31, 2021. At estimated fair value. Includes all Public Fixed Income assets managed by MIM.
3 Total assets under management is comprised of all MetLife general account and separate account assets and unaffiliated/third party assets, at estimated fair value, managed by MIM.
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FAQ
What is the purpose of the new Collective Investment Trust (CIT) by MetLife?
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