SEI (NASDAQ: SEIC) and Canoe Intelligence (Canoe) have announced an enhanced integration aimed at improving operational efficiency for family offices. The collaboration focuses on automating the transmission of private equity and hedge fund valuations, as well as private equity call and distribution data, through the SEI Archway PlatformSM.
Family offices, which allocated 42% of their investment portfolios to alternative assets in 2023, have faced challenges with manual data management workflows. The new integration aims to streamline the accessibility and integration of alternative asset data, enabling family offices to make more confident decisions.
Sandy Ewing, Head of SEI's Family Office Services business, emphasized the importance of personalized wealth management and the role of alternatives in portfolio diversification. She highlighted SEI's commitment to enhancing the end-to-end alternatives investment experience through client-centric solutions like the SEI Archway Platform and SEI Altigo® Platform.
The enhanced integration introduces a new data channel for SEI Archway Platform users, facilitating the collection, aggregation, and analysis of alternative asset data. This connectivity aims to automate fund and allocation-level data gathering, improve processing of alternative asset pricing and capital transactions, and streamline alternative investment reporting processes.
Mike Muniz, Chief Revenue Officer at Canoe Intelligence, pointed out the necessity for technology that provides a detailed and accurate view of investment document workflows as family offices increase their allocations to alternatives.
Since the beginning of the partnership, Canoe has processed over 150,000 documents for SEI's clients and has enabled 24 mutual clients to automate data transmission across more than 3,400 alternative investments. The integration is part of SEI Archway Platform's focus on enhancing user experience through reporting, operational efficiency, data connectivity, and integrations.
SEI manages, advises, or administers approximately $1.5 trillion in assets as of June 30, 2024. SEI's Family Office Services segment has $630 billion in assets on its platform, offering technology and services that support the accounting, investment management, and reporting functions of family offices.
InvestingPro Insights
SEI (NASDAQ:SEIC) continues to demonstrate its commitment to delivering shareholder value and financial stability, as evidenced by its consistent dividend growth. The company has not only maintained dividend payments for an impressive 37 consecutive years but has also raised its dividend for the last 10 years. This track record underscores SEI's ability to generate and sustain cash flows, which can sufficiently cover interest payments and support its dividend policy.
In terms of valuation, SEI is currently trading at a P/E ratio of 17.37, which is considered low relative to its near-term earnings growth. This could indicate that the stock is potentially undervalued given its future earnings potential. Moreover, with a PEG ratio of 0.59 as of the last twelve months leading up to Q2 2024, SEI appears to offer growth at a reasonable price. The company's revenue has also seen a healthy increase, with a growth of 5.62% during the same period.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available that delve into SEIC's financial health and future prospects. These tips can be found at https://www.investing.com/pro/SEIC, along with further metrics and insights. For those interested in accessing these exclusive tips, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. Currently, there are 7 more InvestingPro Tips listed for SEIC, offering a comprehensive overview for potential investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.