Suite of Collective Investment Trusts
formalizes MIM’s offering for defined contribution plans
MetLife Investment Management (MIM), the institutional asset
management business of MetLife, Inc. (NYSE: MET), 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 $66.4
billion as of March 31, 20211, with the team managing total AUM of
$362.2 billion2. Additional details on MIM’s Public Fixed Income
strategies and capabilities can be found here.
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 $642.4 billion in total assets under
management. 3
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.
L0721015252[exp0122]
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version on businesswire.com: https://www.businesswire.com/news/home/20210722006087/en/
For Media: James Murphy +1 917-225-6303
james.p.murphy@metlife.com
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