In an agreement that further reflects the popularity of outsourcing non-core business, SEI Investments will provide mutual fund administration, accounting, distribution and compliance services to Westwood Holdings Group.
SEI, which administers $312.1 billion in assets, will service Westwood Holding's Income Opportunity Fund and its SMidCap Fund, a pair of new institutional, no-load mutual funds.
SEI officials would not comment on financial details of the contract.
"SEI's integrated solutions, reputation for operational excellence and focus on compliance clearly set them apart," said Brian Casey, president and chief executive officer of Westwood.
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