Turner Investment Partners of Berwyn, Pennsylvania has entered into an agreement to provide sub-distribution services for two mutual fund families, a spokesperson with the firm told the MutualFundWire.com. The investment manager is Gardner Lewis Asset Management also of Pennsylvania. This move follows a recent sub-distribution deal between Turner and Cooke & Bieler (C&B) of Philadelphia.

Through the agreements, Turner will market the other two firms' mutual funds to financial advisors, bankers, brokers, and 401(k) vendors, the spokesperson reported. Turner sub-distributes in order to have a broader product line when dealing with financial advisors.

Gardner Lewis is the manager of the Chesapeake Funds. Turner will sub-distribute the following Chesapeake Funds: the aggressive growth fund (CPGRX), the core growth fund (CHCGX), and the growth fund (CHEAX). Turner also provides the sub-distribution services for three C&B value funds: the large cap (CBEQX), the midcap (CBMDX), and the tax-managed fund (CBTAX).

"[Our sales representatives] tell us that this is what those advisors are looking for: an expanded inventory of high quality products from one service-oriented source," contended John Grady, president of Turner Investment Distributors and coo of Turner Investment Partners. "Through sub-distributor agreements we will meet the needs of clients and stabilize our revenue stream across disparate market cycles."

The firm has also hired a number of new executives. Turner has tapped Thomas DiBella and Kenneth Gainey to serve as portfolio managers for the small cap core/value stock investment offering. Both join Turner from Aeltus Investment Management, where they both managed the Aetna Small Company Fund.

Roger Early and Paul Matlack are also joining Turner on the fixed-income team. Early will be the cio for the fixed-income team while Matlack will be a senior portfolio manager/security analyst.

The small cap core/value team at Turner will be managing two new funds as well: Turner Small Cap Equity Fund and Turner Small Cap Value Opportunities Fund. 

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