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SEIMX SEI Intermediate-Term Municipal A (STET)

  • Fund
  • SEIMX
  • Price as of: Dec 01, 2016
  • $11.30
  • - $0.04
  • - 0.35%
  • Category
  • National Munis

SEIMX - Profile

Vitals

  • YTD Return -3.8%
  • 3 Yr Annualized Return 3.7%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $1.81 B
  • Holdings in Top 10 6.9%

52 WEEK LOW AND HIGH

$11.30
$11.30
$12.08

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.86%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 15.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$100,000

IRA

N/A

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Interm

Distributions

  • YTD Total Return -3.8%
  • 3 Yr Annualized Total Return 3.7%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.46%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name SEI Tax Exempt Trust Intermediate-Term Municipal Fund
  • Fund Family Name SEI
  • Inception Date Sep 05, 1989
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Stephen J. Czepiel

Fund Description

The fund will invest, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade municipal securities that pay interest that is exempt from federal income tax, including, but not limited to, municipal bonds, notes and commercial paper.

SEIMX - Performance

Return Ranking - Trailing

Period SEIMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.8% -6.1% 99.4% 50.89% 4
1 Yr 3.4% -7.6% 10.7% 25.73% 2
3 Yr 3.7% * -4.5% 7.6% 29.45% 2
5 Yr 3.5% * -1.7% 6.9% 30.06% 2
10 Yr 4.0% * -2.3% 5.3% 25.55% 2

* Annualized


Return Ranking - Calendar

Period SEIMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.2% -10.9% 2.6% 13.68% 1
2014 3.9% -2.2% 12.0% 35.95% 3
2013 -4.6% -11.9% 0.1% 27.57% 3
2012 2.3% -7.1% 10.2% 37.04% 3
2011 5.6% -1.8% 15.2% 32.55% 3

Total Return Ranking - Trailing

Period SEIMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.8% -6.1% 99.4% 53.66% 4
1 Yr 3.4% -8.9% 10.0% 16.29% 1
3 Yr 3.7% * -5.4% 7.6% 25.04% 2
5 Yr 3.5% * -0.9% 6.9% 26.72% 2
10 Yr 4.0% * -2.3% 5.3% 23.60% 2

* Annualized


Total Return Ranking - Calendar

Period SEIMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.2% -9.7% 5.1% 25.34% 2
2014 3.9% -0.9% 17.0% 44.50% 3
2013 -4.6% -11.9% 2.1% 36.88% 3
2012 2.3% -0.6% 17.8% 46.76% 4
2011 5.6% -1.1% 16.2% 44.11% 3

NAV & Total Return History

SEIMX - Holdings

Filings data as of: Oct 31, 2016

Concentration Analysis

SEIMX Category Low Category High SEIMX % Rank Quintile
Net Assets 1.81 B 491 K 53 B 11.11% 2
Number of Holdings 605 1 6199 8.71% 2
Net Assets in Top 10 130 M -179 M 1.27 B 15.16% 3
Weighting of Top 10 6.9% 0.0% 100.0% 31.61% 5

Top 10 Holdings

  1. Hills Iowa Health Facs Rev Var Rev 0.5% 1.23%
  2. Citizens Ppty Ins Corp Fla Coastal A 5% 1.05%
  3. Railsplitter Tob Settlement Au Toba 5.5% 0.77%
  4. Connecticut St Health & Edl Fa Var 0.33% 0.70%
  5. Denver Colo City & Cnty Arpt R Sub 5.5% 0.64%
  6. New York St Twy Auth 5% 0.55%
  7. Mississippi Busn Fin Corp Var Rev 0.45% 0.52%
  8. Trinity River Auth 0.01% 0.51%
  9. Kansas City Mo Arpt Rev Gen Impt 5% 0.49%
  10. Washington St For Issues Dtd P Var Pu 5% 0.49%

Asset Allocation

Weighting Category Low Category High SEIMX % Rank Quintile
Bonds
96.58% 0.00% 202.21% 17.39% 4
Cash
3.42% -110.85% 100.00% 13.23% 2
Other
0.00% -2.77% 27.54% 6.94% 2
Convertible Bonds
0.00% 0.00% 2.79% 0.81% 2
Preferred Stocks
0.00% 0.00% 11.46% 1.45% 2
Stocks
0.00% 0.00% 1.40% 1.13% 2

Bond Sector Breakdown

Weighting Category Low Category High SEIMX % Rank Quintile
Municipal
96.35% 0.00% 140.62% 15.65% 4
Cash & Equivalents
3.42% -110.85% 100.00% 13.39% 2
Government
0.24% -42.63% 117.34% 5.97% 2
Securitized
0.00% 0.00% 41.81% 2.74% 2
Corporate
0.00% 0.00% 34.61% 4.35% 2
Derivative
0.00% -0.43% 4.79% 0.48% 2

Bond Geographic Breakdown

Weighting Category Low Category High SEIMX % Rank Quintile
US
96.58% 0.00% 202.21% 17.42% 4
Non US
0.00% 0.00% 20.62% 0.81% 2

SEIMX - Expenses

Operational Fees

SEIMX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.86% 0.10% 4.60% 16.26% 3
Management Fee 0.33% 0.00% 1.00% 4.19% 2
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.24% 0.00% 0.35% 2.17% 5

Sales Fees

SEIMX Fees (% of AUM) Category Low Category High SEIMX Rank Quintile
Front Load N/A 0.50% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

SEIMX Fees (% of AUM) Category Low Category High SEIMX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SEIMX Fees (% of AUM) Category Low Category High SEIMX Rank Quintile
Turnover 15.00% 0.00% 783.51% 13.53% 2

SEIMX - Distributions

Dividend Yield Analysis

SEIMX Category Low Category High SEIMX % Rank Quintile
Dividend Yield 0.3% 0.00% 2.86% 26.26% 3

Dividend Distribution Analysis

SEIMX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

SEIMX Category Low Category High SEIMX % Rank Quintile
Net Income Ratio 2.46% -0.60% 5.26% 22.54% 3

Capital Gain Distribution Analysis

SEIMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

SEIMX - Managers

Stephen J. Czepiel

Manager

Start Date

Dec 31, 2007

Tenure

8.84

Tenure Rank

8.5%

Mr. Czepiel is a member of DIFA’s municipal fixed income portfolio management team with primary responsibility for portfolio construction and strategic asset allocation. He is a co-portfolio manager of DMBT’s municipal bond funds and client accounts. He joined Delaware Investments in July 2004 as a senior bond trader. Previously, he was vice president at both Mesirow Financial and Loop Capital Markets. He began his career in the securities industry in 1982 as a municipal bond trader at Kidder Peabody and now has more than 20 years of experience in the municipal securities industry. Mr. Czepiel earned his bachelor’s degree in finance and economics from Duquesne University. Mr. Czepiel has served as a portfolio manager for the Fund since 2006.


Gregory A. Gizzi

Manager

Start Date

Dec 31, 2012

Tenure

3.84

Tenure Rank

13.1%

Gregory A. Gizzi is a member of the firm’s municipal fixed income portfolio management team. He is also a co-portfolio manager of the firm’s municipal bond funds and several client accounts. Before joining Delaware Investments in January 2008 as head of municipal bond trading, he spent six years as a vice president at Lehman Brothers for the firm’s tax-exempt institutional sales effort. Prior to that, he spent two years trading corporate bonds for UBS before joining Lehman Brothers in a sales capacity. Gizzi has more than 20 years of trading experience in the municipal securities industry, beginning at Kidder Peabody in 1984, where he started as a municipal bond trader and worked his way up to institutional block trading desk manager. He later worked in the same capacity at Dillon Read. Gizzi earned his bachelor’s degree in economics from Harvard University.


Joseph R. Baxter

Manager

Start Date

Dec 31, 2006

Tenure

9.84

Tenure Rank

7.3%

Mr. Baxter is the head of DIFA’s municipal bond department and is responsible for setting the department’s investment strategy. He is also a co-portfolio manager of DMBT’s municipal bond funds and several client accounts. Before joining Delaware Investments in 1999 as head municipal bond trader, he held investment positions with First Union, most recently as a municipal portfolio manager with the Evergreen Funds. Mr. Baxter received a bachelor’s degree in finance and marketing from La Salle University.


Daniel Rabasco

Manager

Start Date

Dec 31, 2013

Tenure

2.84

Tenure Rank

14.2%

Mr. Rabasco joined Standish in 1998, before that, he was a vice president and portfolio manager with Keystone Custodian Funds. He joined the company in 1990 as an analyst and assumed his current position in 1994. Previously, Rabasco worked as an analyst for Liberty Mutual Insurance Company. Rabasco earned his Chartered Financial Analyst designation in 1992. He is a member of the Boston Municipal Analysts Forum and the Boston Securities Analysts Society. Rabasco was born September 1, 1957 in North Reading, Massachusetts.


Richard A. Bamford

Manager

Start Date

Dec 31, 1999

Tenure

16.85

Tenure Rank

2.5%

Mr. Bamford serves as a Portfolio Manager for the Fixed Income Team within the Investment Management Unit. His duties include manager analysis and selection, strategy development and enhancement as well as investment research. Prior to joining SEI in 1999, Richard worked as a Municipal Credit Analyst for Vanguard. He received a Bachelor of Science in Economics/Finance and Accounting from the University of Scranton and a Master of Business Administration with a concentration in Finance from St. Joseph's University.


Erin K. Garrett

Manager

Start Date

Dec 31, 2014

Tenure

1.84

Tenure Rank

15.5%

Ms. Garrett serves as an Assistant Portfolio Manager for the SEI US Investment Grade fixed income strategies within the Investment Management Unit. She is responsible for the selection of fund sub-advisors and the allocations among these managers to optimize diversification of style and alpha source within the fixed income funds. In this capacity, she primarily oversees daily cash flows, portfolio exposures, portfolio risks, and performance attribution. In her preceding role, Erin was an Analyst on the Global Fixed Income team responsible for in-depth due diligence on existing and prospective investment managers for SEI's US fixed-income portfolios. Ms. Garrett earned a Bachelor of Science in Business Administration/Finance from the Villanova University School of Business and is currently pursuing her MBA at Villanova University.


Tenure Analysis

Category Low

0.0

Category High

37.1

Category Average

7.32

Category Mode

4.8