SEI has added Western Asset Management as a subadvisor on its $1.4 billion Short Duration Municipal fund, which continues to languish towards the bottom of the performance charts.
Citywire + rated Kenneth Leech, Robert Amodeo and John Mooney have been added as managers of the fund, according to a Securities and Exchange Commission filing. The fund has returned 2% over five years, placing it 25th of 28 funds in the Short Municipal Debt sector over that period.
Leech is the chief investment officer of Western Asset and has been with the firm since 1990. Before joining the firm, Leech was a proprietary trader at Greenwich Capital.
Amodeo is head of municipals at Western Asset and has been with the firm since 2005. Prior to joining the firm, Amodeo was head of the municipal bond investment team at Salomon Brothers Asset Management.
Mooney is a portfolio manager with Western Asset and joined the firm in 1997. Prior to joining Western Asset, Mooney was a fixed income manager at AIG Sun America.
The fund is also subadvised by Wells Capital Management and Neuberger Berman Investment Advisers.
Kristian Lind and Peter Moukios run Neuberger Berman’s portion of the fund, while Wendy Casetta and Lyle Fitterer manage Wells Fargo's. SEI's own Richard Bamford and Erin Garrett are also among the fund's managers.
A spokeswoman from the firm confirmed the filing but declined to comment further.