SEI Investments announced Tuesday that Barclays Global Investors has selected the firm to serve as distributor for Barclays $12 billion fund complex. Under the deal, SEI will distribute Barclays funds, which are primarily sold to institutional retirement plans. SEI will also take an expanded role with respect to Barclays exchange traded iShares by providing a wholesaling sales force to target regional broker/dealers.
In addition, SEI will provide call center support, legal consulting and literature fulfillment, also reviewing Barclays marketing materials.
"BGIs experience with SEI as iShares distributor revealed a company with a thorough understanding of our firms products and the distribution process," said Lee Kranefuss, chief executive officer of Barclays intermediary business.