Buy-Side Technology Awards: Best Outsourcing Provider to the Buy Side─SEI

But outsourcing in the financial services industry has matured appreciably over the course of the last decade to the point now that for large numbers of buy-side firms, the outsourcing proposition for all but the most specialist business functions─those that they believe provide them with a competitive advantage-is a very attractive one.

SEI, winner of this year's Best Fund Administrator category (see page 61), wins Best Outsourcing Provider to the Buy Side─a new award for the 2012 Buy-Side Technology Awards-thanks to its blend of fund accounting and administration, front-, middle- and back-office technology, and investor servicing support, assisting investment managers globally across a range of registered and unregistered fund structures, investment strategies, and jurisdictions.

SEI has also done a good job of building partnerships and working with other vendors to create innovative solutions for its buy-side clients. It prides itself in becoming one of the first administrators to integrate Advent's Geneva portfolio accounting system with SunGard's InvesTier and Investran fund accounting systems, which makes it possible for the multiple accounting systems to "talk" to one another. This initiative also allowed SEI to cut down on manual processes and firms' reliance on Microsoft Excel spreadsheets.

Earlier this year, commodity trading advisor (CTA) Estlander and Partners outsourced its hedge fund business to Oaks, Pa.-based SEI. The firm's CEO and chief investment officer, Martin Estlander, says SEI's Manager and Investor Dashboards have aided the firm's international growth while also supporting its high-frequency trading business. "As we continue to expand our business throughout Europe and the US, having an outsourcing partner such as SEI that has a global reputation, innovative technology, and specific expertise in our trading strategy is critical," he says. "Executing high-frequency trading strategies, we needed a top-quality and robust infrastructure to support daily reconciliation in a high-volume environment, while also providing the scalability and the expertise we need as we continue to grow our business."