SEI has dropped subadvisors from two funds and set out plans to liquidate a third strategy.

The firm has dropped Dallas-based NFJ from its $7.8 billion SEI World Equity ex-US fund, according to a Securities and Exchange Commission filing.

The fund has six remaining subadvisors, which are:

•   BlackRock;
  
•   Bailie Gifford;
  
•   McKinley Capital Management;
  
•   Earnest Partners;
  
•   Acadian Asset Management; 
  
•  and JO Hambro Capital Management.
  

NFJ declined to comment on the filings.

SEI has also dropped Alliance Bernstein from the $1.7 billion SEI Small/Mid Cap Equity fund.

This fund is also overseen in a multi-manager fashion with nine other subadvisors who remain, including AQR Capital Management, Boston Partners and Victory Capital Management.

Alliance Bernstein declined to comment.

Additionally, SEI is in the process of liquidating the $43.4 million SEI Large Cap Diversified Alpha fund.

Proceeds from the liquidation are planned to be distributed amongst shareholders on May 1.

SEI could not be reached for comment in time for publication.

In September 2016, NFJ was dropped from the Variable Portfolio – NFJ Dividend Value fund, which was renamed, the Variable Portfolio - T. Rowe Price Large Cap Value fund, afterward when the former was replaced with T. Rowe Price.

The fund is a subaccount of a variable annuity offered through RiverSource, which is the annuities and insurance arm of Ameriprise.