Knights of Columbus Asset Advisors, the investment arm of Knights of Columbus, has selected SEI’s Advisors’ Inner Circle Fund (AIC) III as a turnkey operating platform for a new family of six mutual funds designed for Catholic institutional investors.
SEI offers customized operating infrastructure and services to investment firms globally through its investment manager services (IMS) division.
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The six mutual funds will be managed by the same in-house investment team responsible for investing the over $22bn in assets of the Knights of Columbus insurance parent company.
According to SEI, the investment team will initially use the funds to create customised model portfolios that provide diversification and a range of risk/reward scenarios to faith-based organisations.
The new mutual funds family includes Core Bond, Limited Duration Bond, Large Cap Growth, Large Cap Value, Small Cap Equity, and International Equity funds.
The AIC series trust allows investment firm to launch and grow mutual funds and also allows asset managers to operate existing funds.
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By GlobalDataKnights of Columbus Asset Advisors president and CIO Anthony Minopoli said: "After an extensive search, we chose SEI because we were impressed by the knowledge of its team and the capabilities of the AIC platform. The series trust’s comprehensive outsourcing model will enable us to get our new mutual funds up and running quickly."
