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SITEX SEI Emerging Markets Debt A (SIT)

  • Fund
  • SITEX
  • Price as of: Aug 08, 2016
  • $9.98
  • + $0.06
  • + 0.61%
  • Category
  • Emerging Markets Bonds

SITEX - Profile

Vitals

  • YTD Return 14.6%
  • 3 Yr Annualized Return 0.0%
  • 5 Yr Annualized Return 1.2%
  • Net Assets $1.52 B
  • Holdings in Top 10 11.4%

52 WEEK LOW AND HIGH

$9.98
$8.38
$9.98

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.61%

SALES FEES

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

BROKERAGE FEES

  • Turnover 71.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$100,000

IRA

N/A

Investment Themes

CATEGORY

Emerging Markets Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Emerging Markets Bond

Distributions

  • YTD Total Return 14.6%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.91%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name SEI Institutional International Trust Emerging Markets Debt Fund
  • Fund Family Name SEI
  • Inception Date Jun 26, 1997
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Rob Drijkoningen

Fund Description

The SEI Institutional International Trust Emerging Markets Debt Fund Class A (SITEX) is designed to create a maximum total return through interest and capital appreciation. SITEX focuses its attention on emerging-market bonds. The fund invests in a variety of debt, including emerging-market issuers, government debt, and government-related and corporate issuers. There is no limit on either bond maturity or credit rating.

Given the fund’s high costs and riskier market segment, SITEX makes for a great satellite position in a portfolio. Neuberger Berman Fixed Income, Stone Harbor Investment Partners and Investec Asset Management manage the fund.

SITEX - Performance

Return Ranking - Trailing

Period SITEX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 14.6% -16.1% 241.2% 6.41% 1
1 Yr 6.1% -22.3% 16.8% 42.73% 3
3 Yr 0.0% * -6.9% 7.7% 61.22% 4
5 Yr 1.2% * -5.7% 8.6% 54.80% 3
10 Yr 5.4% * 1.6% 9.4% 84.06% 5

* Annualized


Return Ranking - Calendar

Period SITEX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -9.6% -26.3% 3.0% 42.71% 3
2014 N/A -2.1% -0.1% N/A N/A
2013 N/A -12.4% -11.1% N/A N/A
2012 N/A 12.4% 12.5% N/A N/A
2011 N/A 0.1% 1.2% N/A N/A

Total Return Ranking - Trailing

Period SITEX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 14.6% -16.1% 241.2% 6.59% 1
1 Yr 6.1% -25.4% 16.8% 34.59% 2
3 Yr 0.0% * -7.7% 7.5% 58.56% 3
5 Yr 1.2% * -5.7% 8.3% 54.24% 3
10 Yr 5.4% * 1.6% 9.2% 84.06% 5

* Annualized


Total Return Ranking - Calendar

Period SITEX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -9.6% -26.3% 3.0% 43.67% 3
2014 N/A -2.1% -0.1% N/A N/A
2013 N/A -10.7% -10.7% N/A N/A
2012 N/A 13.4% 15.3% N/A N/A
2011 N/A 0.4% 2.0% N/A N/A

NAV & Total Return History

SITEX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

SITEX Category Low Category High SITEX % Rank Quintile
Net Assets 1.52 B 2.46 M 5.35 B 4.07% 1
Number of Holdings 783 2 914 0.87% 1
Net Assets in Top 10 171 M -5.02 M 1.75 B 4.65% 1
Weighting of Top 10 11.4% 0.0% 279.7% 29.36% 5

Top 10 Holdings

  1. Brazil Federative Rep 2.18%
  2. Indonesia(Rep Of) 8.375% 1.27%
  3. United Mexican States 10% 1.24%
  4. Sth Africa(Rep Of) 10.5% 1.19%
  5. Bltn 0% 1/1/18 1.11%
  6. Indonesia(Rep Of) 9% 1.05%
  7. Turkey(Rep Of) 7.4% 0.86%
  8. Poland(Rep Of) 2.5% 0.84%
  9. Turkgb 9.4 07/08/20 0.83%
  10. Poland(Rep Of) 3.25% 0.83%

Asset Allocation

Weighting Category Low Category High SITEX % Rank Quintile
Bonds
91.22% 0.00% 119.20% 13.37% 3
Cash
5.45% -87.13% 112.67% 19.48% 4
Other
3.33% -13.73% 16.75% 5.81% 1
Convertible Bonds
0.00% 0.00% 1.55% 3.78% 2
Preferred Stocks
0.00% 0.00% 1.40% 1.16% 1
Stocks
0.00% -1.55% 99.95% 3.20% 1

Bond Sector Breakdown

Weighting Category Low Category High SITEX % Rank Quintile
Government
75.36% 0.00% 103.20% 4.36% 1
Corporate
15.00% 0.00% 91.17% 20.35% 4
Cash & Equivalents
5.43% -48.84% 112.67% 19.77% 4
Municipal
0.21% 0.00% 2.73% 6.98% 2
Securitized
0.09% 0.00% 23.66% 6.98% 2
Derivative
0.02% -20.04% 28.56% 5.81% 1

Bond Geographic Breakdown

Weighting Category Low Category High SITEX % Rank Quintile
Non US
90.96% 0.00% 202.66% 14.83% 3
US
0.26% -143.41% 64.68% 13.95% 3

SITEX - Expenses

Operational Fees

SITEX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.61% 0.29% 35.45% 33.43% 3
Management Fee 0.85% 0.28% 1.30% 4.65% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.45% 0.01% 0.65% 2.31% 5

Sales Fees

SITEX Fees (% of AUM) Category Low Category High SITEX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

SITEX Fees (% of AUM) Category Low Category High SITEX Rank Quintile
Max Redemption Fee 1.00% 0.75% 2.00% 4.00% 1

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.

SITEX Fees (% of AUM) Category Low Category High SITEX Rank Quintile
Turnover 71.00% 15.00% 605.00% 14.29% 3

SITEX - Distributions

Dividend Yield Analysis

SITEX Category Low Category High SITEX % Rank Quintile
Dividend Yield 0.4% 0.00% 3.24% 45.51% 4

Dividend Distribution Analysis

SITEX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

SITEX Category Low Category High SITEX % Rank Quintile
Net Income Ratio 4.91% -0.29% 8.90% 31.40% 3

Capital Gain Distribution Analysis

SITEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

SITEX - Managers

Rob Drijkoningen

Manager

Start Date

Dec 20, 2013

Tenure

2.61

Tenure Rank

9.1%

Rob Drijkoningen, Managing Director, joined Neuberger Berman in 2013. Mr. Drijkoningen is a Portfolio Manager and Co-Head of the Emerging Markets Debt team. Rob has been appointed in 2007 as the Head of the Multi-Asset Group. Before that, he has been Head of the Global Emerging Markets Debt Team since its inception at ING IM in 1997, with final responsibility for Global Emerging Markets Debt portfolios. He was also responsible for the Global High Yield team. He joined ING IM in 1995. Before joining ING IM, Rob was employed by Nomura and Goldman Sachs, gaining experience with a wide range of professional investors.Mr. Drijkoningen earned his macro-economics degree from Erasmus University in Rotterdam and has authored numerous articles on emerging markets debt subjects. He is DSI qualified.


Gorky Urquieta

Manager

Start Date

Dec 20, 2013

Tenure

2.61

Tenure Rank

9.1%

Gorky Urquieta, Managing Director, joined Neuberger Berman in 2013. Mr. Urquieta is a Portfolio Manager and Co-Head of the Emerging Markets Debt team. He joined Neuberger Berman from ING Investment Management where he was most recently global co-head of Emerging Markets Debt (EMD), responsible for global emerging markets debt external and local currency strategies. Mr. Urquieta joined ING Investment Management in 1997. He obtained a BA in Business Administration from the Bolivian Catholic University in La Paz, Bolivia, and a master's degree in finance from the University of Wisconsin.


David A. Oliver

Manager

Start Date

Dec 31, 2008

Tenure

7.59

Tenure Rank

2.6%

David Oliver, executive director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. An employee since 1989, David is responsible for the management and trading of investment grade and single currency market strategies for private high net worth investors. Previously, David was a portfolio manager for credit strategies, liquidity funds and Libor-based strategies. He has also worked in the Fixed Income Trading Department, primarily responsible for government, corporate and structured products.


Peter Eerdmans

Manager

Start Date

Jul 08, 2013

Tenure

3.07

Tenure Rank

8.3%

Peter is a portfolio manager at Investec Asset Management with responsibility for emerging markets, fixed income. He joined Investec in August 2005 from Watson Wyatt Worldwide in London where he co-managed their UK and Europe based manager research team covering all asset classes, and was responsible for the UK and Emerging Market Debt research efforts. He joined Watson Wyatt in 2001 from Robeco Group. Peter holds a Master of Econometrics from Erasmus University, The Netherlands.


Pablo Cisilino

Manager

Start Date

Jul 01, 2006

Tenure

10.09

Tenure Rank

1.2%

Co-portfolio manager; Since July 2006, Portfolio Manager of Stone Harbor; From June 1, 2004 to July 2006, Executive Director for Sales and Trading in Emerging Markets at Morgan Stanley Inc; Prior to June 1, 2004, Vice President for local markets and FX sales and trading, Goldman Sachs; Joined Goldman Sachs in 1994.


Raoul Luttik

Manager

Start Date

Dec 20, 2013

Tenure

2.61

Tenure Rank

9.1%

Raoul Luttik, Managing Director, joined Neuberger Berman in 2013. Mr. Luttik is a Lead Portfolio Manager on the Emerging Markets Debt team, responsible for managing EMD Local Currency strategies. He joined Neuberger Berman after working at ING Investment Management, where he was a lead portfolio manager within their Emerging Markets team (local currency). Mr. Luttik started at ING Investment Management in 1998. He acquired a degree in economics from Rijksuniversiteit Groningen in 1993. In 1997 he became RBA registered (Register of Investment Analysts) a registration affiliated with the European Federation of Financial Analysts Societies. Raoul is also DSI qualified.


Bart van der Made

Manager

Start Date

Dec 20, 2013

Tenure

2.61

Tenure Rank

9.1%

Bart van der Made, CFA, Managing Director, joined Neuberger Berman in 2013. Mr. van der Made is a Lead Portfolio Manager. Prior to joining Neuberger Berman, he held various roles at ING Investment Management, most recently since 2009, as lead portfolio manager of emerging markets debt (hard currency). From 2005 onwards, Mr. van der Made was a senior portfolio manager and before that was the EMD economist—the role in which he joined in 2000. He earned a master's degree in econometrics from Erasmus University in Rotterdam, and has been awarded the Chartered Financial Analyst designation.


Prashant Singh

Manager

Start Date

Dec 20, 2013

Tenure

2.61

Tenure Rank

9.1%

Prashant Singh, CFA, Managing Director, joined Neuberger Berman in 2013. Prashant is the Lead Portfolio Manager (Asia) on the Emerging Markets Debt team. He is responsible for managing the emerging markets debt portfolios in the Asia region, focusing on rates and currencies. Mr. Singh joined Neuberger Berman after working at ING Investment Management, where he held a similar role. He joined ING Investment Management in 2003.


William W. Perry

Manager

Start Date

Sep 30, 2012

Tenure

3.84

Tenure Rank

6.7%

Since September 2012, Portfolio Manager of Stone Harbor; From August 2010 to August 2012, Emerging Markets Corporate Portfolio Manager at Morgan Stanley Investment Management; Prior to 2010, Managing Director/ Portfolio Manager in the Global Special Opportunities Group for Latin American Special Situations at JPMorgan Chase. 28 years of industry experience.


Nish Popat

Manager

Start Date

Dec 20, 2013

Tenure

2.61

Tenure Rank

9.1%

Nish Popat, Managing Director, joined Neuberger Berman in 2013. Nish is a Co-Lead Portfolio Manager on the Emerging Markets Corporate Debt team. Mr. Popat joined Neuberger Berman after working at ING Investment Management, where he was most recently a senior portfolio manager on the Emerging Markets Corporate Debt team. He joined ING Investment Management in 2008.


Vera Kartseva

Manager

Start Date

Dec 20, 2013

Tenure

2.61

Tenure Rank

9.1%

Vera Kartseva, Vice President, joined Neuberger Berman from ING Investment Management where she was most recently a Strategist on the EMD team, and managed an EMD Opportunities fund, a blended strategy of hard and local currency debt. Prior to that, Ms. Kartseva was a quantitative analyst on the Multi-Asset Group of ING Investment Management.


Jennifer Gorgoll

Manager

Start Date

Dec 20, 2013

Tenure

2.61

Tenure Rank

9.1%

Jennifer Gorgoll, CFA, Managing Director, joined Neuberger Berman in 2013. Ms. Gorgoll is a Co-Lead Portfolio Manager on the Emerging Markets Corporate Debt team responsible for global portfolios investing in high grade and high yield emerging market corporate debt across the regions. She joined Neuberger Berman after working at ING Investment Management, where she was most recently the head and a senior portfolio manager of the Emerging Markets Corporate Debt team. Ms. Gorgoll started at ING Investment Management in 2002 and is Head of the emerging markets corporate fixed-income team where she is responsible for investing in high grade and high-yield emerging market corporate bonds. Prior to that, Ms. Gorgoll was with Prudential Capital Group where she specialized in private placements for companies based in the U.S., as well as Financial Institutions Group at Salomon Brothers Inc. and at Patricof & Co. Capital Corp., a boutique investment bank.


Grant Webster

Manager

Start Date

Jul 08, 2013

Tenure

3.07

Tenure Rank

8.3%

Grant Webster, having joined Investec Asset Management US Ltd in 2011, is an investment specialist in the Global EMD team and a portfolio manager. Grant is responsible for former Commonwealth of Independent States (CIS) and the Middle East, as well as quantitative analysis on emerging market multi-strategy projects. Prior to joining IAM, Grant worked in London as a quantitative analyst and portfolio manager of global macro and convertible bond funds at RWC Partners.


Peter J. Wilby

Manager

Start Date

Jan 31, 2006

Tenure

10.5

Tenure Rank

1.0%

Wilby, portfolio manager of the Emerging Markets Debt Fund, has served as chief investment officer of Stone Harbor since April 2006. Prior to April 2006, Mr. Wilby was the Chief Investment Officer of North American Fixed Income and senior portfolio manager responsible for directing investment policy and strategy for all emerging markets and high yield fixed income portfolios at Citigroup Asset Management Wilby holds the Chartered Financial Analyst designation.


James E. Craige

Manager

Start Date

Jan 31, 2006

Tenure

10.5

Tenure Rank

1.0%

James E. Craige, Portfolio Manager of the Stone Harbor Investment Partners LP since April 2006, Prior to April 2006, Managing Director and Senior Portfolio Manager for emerging markets debt portfolios at Salomon Brothers Asset Management Inc.; Joined Salomon Brothers Asset Management Inc. in 1992. Craige holds the Chartered Financial Analyst designation.


David S. Aniloff

Manager

Start Date

Dec 31, 2000

Tenure

15.59

Tenure Rank

0.6%

Mr. Aniloff joined SIMC in 2000 and currently serves as a senior portfolio manager on the Global High Yield Team. Mr. Aniloff was also a key developer of SIMC's structured credit solutions and currently serves as co-portfolio manager with responsibility for security selection and portfolio construction. In addition, Mr. Aniloff has been integral in the development and implementation of SIMC's proprietary structured credit monitoring technology. Mr. Aniloff also provides expertise and support for SIMC's suite of Global High Yield Funds, inclusive of manager evaluation and selection as well as risk management.


Kumaran K. Damodaran

Manager

Start Date

Dec 31, 2015

Tenure

0.58

Tenure Rank

13.6%

Since September 2015, Portfolio Manager of Stone Harbor; Prior to joining Stone Harbor, Lead Emerging Markets Macro Portfolio Manager for GLG Partners from 2012 to 2015. From 2008 to 2012, Executive Vice President and Emerging Markets Portfolio Manager at PIMCO. Prior to PIMCO, Senior Vice President and Trader in Latin American Local Market Rate Derivatives at Lehman Brothers for over five years.


Tenure Analysis

Category Low

0.0

Category High

22.3

Category Average

3.85

Category Mode

1.6