SEI's Advisors' Inner Circle Fund III has been selected by Knights of Columbus Asset Advisors, the investment arm of Knights of Columbus, as the turnkey operating structure for a new family of six mutual funds,
The funds are designed specifically for Catholic institutional investors. Through its Investment Manager Services (IMS) division, SEI supplies customised operating infrastructure and services to investment organisations around the world.
SEI helped pioneer the series trust concept over 20 years ago, introducing Advisors' Inner Circle Fund as an institutional-quality turnkey mutual fund operating platform in 1991. The AIC series trust enables investment organisations to rapidly launch and grow mutual funds without having to build their own operating infrastructure. The solution is also designed for asset managers seeking a more cost-effective way to operate existing funds.
"After an extensive search, we chose SEI because we were impressed by the knowledge of its team and the capabilities of the AIC platform," says Anthony Minopoli, President and Chief Investment Officer of Knights of Columbus Asset Advisors. "The series trust's comprehensive outsourcing model will enable us to get our new mutual funds up and running quickly."
The six mutual funds are managed by the same in-house investment team responsible for investing the more than USD22 billion in assets of the Knights of Columbus insurance parent company. The mutual funds include Core Bond, Limited Duration Bond, Large Cap Growth, Large Cap Value, Small Cap Equity, and International Equity funds. The investment team will initially utilise the funds to build customised model portfolios that offer diversification and a range of risk/reward scenarios to faith-based organisations.
"We're pleased to provide the Knights of Columbus with an efficient and flexible way to offer investment solutions tailored to the needs of faith-based organisations as well as individual investors," says John Alshefski, Senior Vice President and Managing Director of SEI's Investment Manager Services division. "We are honoured to partner with a company that maintains such high standards for its operating infrastructure."
The AIC platform provides a comprehensive operating structure and service solution, including an independent board of trustees and scalable infrastructure encompassing fund administration, accounting, investor servicing, and distribution services. Since its inception, the platform has grown to represent more than USD42 billion in fund assets across 129 mutual funds on behalf of 40 investment advisors.
