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Easterly Asset Management to Launch First Collective Income Trusts to Meet Growing Client Need
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Rhea-AI Summary
Easterly Asset Management has launched three new collective investment trusts (CITs) to meet rising client demand in the institutional retirement market. The CITs include the Easterly Small Cap Value CIT, Easterly Small-Mid Cap Value CIT, and Easterly EAB Hedged Equity CIT, all managed using proven value strategies. SEI Trust Company will act as the trustee for these investment vehicles, which aim to provide unique solutions for retirement plans. As of June 2022, Easterly managed $3.2 billion in assets, while SEI managed approximately $1.3 trillion.
Positive
Launch of three collective investment trusts enhances product offerings for institutional retirement market.
CITs leverage existing successful investment strategies since 2006 and 2013.
Expertise of Easterly Investment Partners and Easterly EAB Risk Solutions involved in management.
Negative
None.
BEVERLY, Mass.--(BUSINESS WIRE)--
Easterly Asset Management is pleased to announce the launch of three collective investment trusts (CITs) to better serve growing client demand in the institutional retirement market. The three CITs are:
Easterly Small Cap Value CIT;
Easterly Small-Mid Cap Value CIT; and
Easterly EAB Hedged Equity CIT.
Easterly Investment Partners will act as the advisor on the Easterly Small Cap Value CIT and the Easterly Small-Mid Cap Value CIT. These CITs will mirror EIP’s existing SCV and SMID Cap Value strategies, which have been offered to institutional clients via separate account since 2006 and 2013, respectively. They will be managed using a value approach that seeks to identify underpriced, compelling investment opportunities that have catalysts that are expected to lead to an increase in stock price.
Easterly EAB Risk Solutions will act as the advisor on the Easterly EAB Hedged Equity CIT, as they have been managing this strategy since 2015. Currently only available via a separate account or mutual fund, the strategy seeks to systematically provide a predictable reduction in downside volatility, while maintaining exposure during rising markets.
“We are pleased to offer qualified retirement plans three collective investment trusts that leverage the expertise of the teams at Easterly Investment Partners and Easterly EAB Risk Solutions,” said Michael Collins, Managing Director and Head of Distribution for Easterly Asset Management. “These vehicles provide investors with proven strategies, access to experienced asset managers and a structure tailored to their needs.”
SEI Trust Company will serve as the trustee of the three collective investment trusts. SEI Trust Company is a subsidiary of SEI®, a leading global provider of technology and investment solutions, including investment processing, investment management, and investment operations.
“Easterly Asset Management’s collective investment trusts provide a unique set of solutions for the retirement market, and we are proud to serve as the trustee,” said John Alshefski, Senior Vice President and Managing Director of SEI’s Investment Manager Services division. “We believe the market will find these trusts and their underlying strategies a welcome addition.”
About Easterly Asset Management
Easterly Asset Management (Easterly) is a multi-affiliate platform of high-performing boutique investment managers. Easterly is committed to bringing investors innovative investment strategies by partnering with quality managers who possess deep domain expertise and are craftsman in their respective asset classes and investment processes. We support our partners by delivering best-in-class solutions in marketing, sales, technology, operations, human resources, and finance to scale their businesses. We also offer affiliates, through our platform partnerships, the opportunity to access our retail & institutional distribution services. With our 20 investment professionals across our seven affiliates, we offer a range of products including separate accounts, SMAs, ’40 Act Funds, CITs and private placements. At the end of June 2022, Easterly had $3.2 billion in assets under management. For more information, please visit Easterly at https://easterlyam.com/.
About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change and help protect assets—for growth today and in the future. As of June 30, 2022, SEI manages, advises, or administers approximately $1.3 trillion in assets. For more information, visit seic.com.
About SEI Trust Company
SEI Trust Company (STC) is a non-depository trust company chartered under the laws of the Commonwealth of Pennsylvania, which provides trustee, custodial, operational and administrative services to various collective investment trusts. STC was formed in June 1989, is a wholly-owned subsidiary of SEI Investments Company and is regulated and examined by the Pennsylvania Department of Banking and Securities. The Trustee shall offer interests in each Trust only to parties who are eligible plans in a collective investment trust pursuant to applicable law, including, but not limited to, the applicable provisions of the Securities Act of 1933, the Investment Company Act of 1940 and the Pennsylvania Banking Code of 1965, as well as the terms of the offering documents for each specific trust.
What are the new investment trusts launched by Easterly Asset Management?
Easterly Asset Management launched the Easterly Small Cap Value CIT, Easterly Small-Mid Cap Value CIT, and Easterly EAB Hedged Equity CIT.
Who manages the new collective investment trusts?
Easterly Investment Partners will manage the Small Cap Value and Small-Mid Cap Value CITs, while Easterly EAB Risk Solutions will manage the Hedged Equity CIT.
What is SEIC's involvement in the newly launched CITs?
SEI Trust Company serves as the trustee for the three collective investment trusts launched by Easterly Asset Management.
How much assets is managed by Easterly Asset Management?
As of June 2022, Easterly Asset Management had $3.2 billion in assets under management.
What is SEI's total assets under management as of June 2022?
As of June 30, 2022, SEI manages approximately $1.3 trillion in assets.
