SEI's Short Duration Municipal Fund gets Wells as second subadviser

By Toni Weeks

San Diego, Dec. 22 - SEI Tax Exempt Trust announced it has added an additional subadviser to its Short Duration Municipal Fund, according to a 497 filing with the Securities and Exchange Commission.

Wells Capital Management Inc. will now be responsible for managing a portion of the fund and has appointed Lyle Fitterer and Wendy Casetta as portfolio managers.

Fitterer, senior portfolio manager, is a managing director and head of tax-exempt fixed income at WellsCap. Prior to joining Wells in 2005, Fitterer was with Strong Capital Management, where he served as director of the Municipal Fixed-Income Team and held other roles.

Casetta, also a senior portfolio manager, joined WellsCap in 2005. Prior to that, she was with Strong Capital, where she was a senior research analyst and portfolio manager.

Neuberger Berman Fixed Income LLC is also a subadviser to the fund.

Oaks, Pa.-based SEI Investments Management Corp. is the fund's investment adviser.

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