Twenty-four fund family Constellation Funds
has signed a deal with SEI Investments
to outsource its fund accounting and sub-administration services, the companies announced in a release
The move "enables us to concentrate on distribution and fund management. Particularly for a relatively new firm like ours, that focus is vital," said John Grady
, president and CEO of Constellation Funds.
The fund group has approximately $2.3 billion in assets under management under nine subadvisors. The firm was created through a spin-off of 12 Turner Investment Partners funds in 2004, and has been on an acquisition spree, snapping up funds from the Pitcairn family and the J.J.B. Hilliard, W.L. Lyons'families.
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