Combine all ingredients in non-stick saucepan.
Heat on medium heat, while intermittently stirring. Once mixture comes to a boil, turn down to a simmer and continue to stir until sauce thickens.
Remove from heat and allow to cool.
Puree using either an immersion blender (stick blender) or blender.
Place a fine sieve strainer over a glass bowl and strain mixture. Use a spatula to help pass all liquid through the sieve, leaving the solids behind.
If mixture appears too thick, return to saucepan and whisk in a tsp. or two of water and heat on medium, continually stirring to obtain desired consistency.
Store refrigerated in airtight container until ready to use.