SIIT LONG DURATION FUND
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.4%
1 yr return
11.0%
3 Yr Avg Return
-8.0%
5 Yr Avg Return
-1.9%
Net Assets
$601 M
Holdings in Top 10
30.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.38%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
LDRAX - Profile
Distributions
- YTD Total Return -1.4%
- 3 Yr Annualized Total Return -8.0%
- 5 Yr Annualized Total Return -1.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.08%
- Dividend Yield 4.8%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSIIT LONG DURATION FUND
-
Fund Family NameSEI Funds
-
Inception DateApr 21, 2004
-
Shares Outstanding101262852
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBryan Whalen
Fund Description
Under normal circumstances, the Long Duration Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade US dollar-denominated fixed income instruments. The Fund will primarily invest in long duration government and corporate fixed income securities and may also invest in synthetic instruments or derivatives having economic characteristics similar to fixed income securities. The Fund will invest in a broad array of fixed income instruments including: (i) US
and foreign corporate obligations; (ii) securities issued or guaranteed by the U.S. Government and its agencies and instrumentalities; (iii) fixed income securities issued by sovereigns or agencies in both developed and emerging foreign markets; (iv) obligations of supranational entities; and (v) debt obligations issued by state, provincial, county or city governments or other municipalities, as well as those of public utilities, universities and other quasi-governmental bodies.
The Fund will primarily invest in the instruments described above. It may also invest in futures contracts, forward contracts, and swaps, including interest rate swaps, single security swaps, swaps on an index of securities or credit default swaps. The Fund will primarily use such derivatives for hedging purposes to attempt to manage the Fund's exposure to changes in interest rate duration and related investment risks resulting from the interaction of interest rate changes over time and the current value of fixed income securities. The Fund will typically use options and swaps in an attempt to either mitigate the Fund's overall level of risk or to gain exposure to a particular fixed income security or segment of the fixed income market. Interest rate swaps, credit default swaps and total return swaps may be used to manage various portfolio exposures including but not limited to interest rate risk and credit risk. The Fund may use credit default swaps to take an active long or short position with respect to a security or basket of securities. The Fund may buy credit default swaps in an attempt to manage credit risk where the Fund has credit exposure to an issuer and the Fund may sell credit default swaps to more efficiently gain credit exposure to such security or basket of securities. The Fund may also, to a lesser extent, invest in shares of exchange-traded funds (ETFs) or mutual funds to obtain exposure to certain fixed income markets.
While the Fund may invest in securities with any maturity or duration, the Fund under normal circumstances will seek to maintain an effective average duration of greater than ten years. The Fund's effective average duration was approximately 13.34 years as of July 31, 2024. Duration is a measure of the expected life of a fixed income security that is used to determine the sensitivity of a security's price to changes in interest rates. For example, if a fixed income security has a ten-year duration, it will decrease in value by 10% if interest rates rise 1% and increase in value by 10% if interest rates fall 1%. Fixed income instruments with higher duration typically have higher risk and higher volatility.
The Fund uses a multi-manager approach under the general supervision of SEI Investments Management Corporation (SIMC or the Adviser), allocating its assets among one or more sub-advisers (each, a Sub-Adviser and collectively, the Sub-Advisers) using different investment strategies designed to provide current income consistent with the preservation of capital. Due to its investment strategy, the Fund may buy and sell securities frequently.
LDRAX - Performance
Return Ranking - Trailing
Period | LDRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.4% | -3.4% | 6.3% | 75.00% |
1 Yr | 11.0% | 2.5% | 13.5% | 75.00% |
3 Yr | -8.0%* | -12.5% | 34.0% | 71.88% |
5 Yr | -1.9%* | -7.4% | 22.8% | 58.06% |
10 Yr | 2.0%* | -1.0% | 13.5% | 61.54% |
* Annualized
Return Ranking - Calendar
Period | LDRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.5% | 0.4% | 6.0% | 68.75% |
2022 | -29.8% | -31.0% | 111.9% | 68.75% |
2021 | -6.3% | -8.2% | -0.4% | 56.25% |
2020 | 5.0% | 1.9% | 12.2% | 51.61% |
2019 | 11.3% | 1.2% | 19.0% | 66.67% |
Total Return Ranking - Trailing
Period | LDRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.4% | -3.4% | 6.3% | 75.00% |
1 Yr | 11.0% | 2.5% | 13.5% | 75.00% |
3 Yr | -8.0%* | -12.5% | 34.0% | 71.88% |
5 Yr | -1.9%* | -7.4% | 22.8% | 58.06% |
10 Yr | 2.0%* | -1.0% | 13.5% | 61.54% |
* Annualized
Total Return Ranking - Calendar
Period | LDRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.9% | 0.4% | 11.2% | 53.13% |
2022 | -26.7% | -31.0% | 121.2% | 68.75% |
2021 | -1.7% | -2.9% | 3.1% | 59.38% |
2020 | 18.6% | 4.2% | 18.6% | 3.23% |
2019 | 21.5% | 4.6% | 24.6% | 50.00% |
NAV & Total Return History
LDRAX - Holdings
Concentration Analysis
LDRAX | Category Low | Category High | LDRAX % Rank | |
---|---|---|---|---|
Net Assets | 601 M | 10.2 M | 15.5 B | 59.38% |
Number of Holdings | 906 | 40 | 3692 | 62.50% |
Net Assets in Top 10 | 116 M | 3.98 M | 1.72 B | 62.50% |
Weighting of Top 10 | 30.40% | 2.7% | 69.9% | 25.00% |
Top 10 Holdings
- US ULTRA BOND CBT DEC24 FINANCIAL COMMODITY FUTURE. 4.90%
- US 5YR NOTE (CBT) DEC24 FINANCIAL COMMODITY FUTURE. 4.44%
- SEI DAILY INCOME TRUST GOVERNMENT FUND (#36) 3.87%
- US TREASURY N/B 4.250000% 08/15/2054 3.81%
- US TREASURY N/B 2.000000% 11/15/2041 2.62%
- US TREASURY N/B 4.250000% 02/15/2054 2.57%
- US TREASURY N/B 4.125000% 08/15/2044 2.43%
- US TREASURY N/B 4.500000% 02/15/2044 2.43%
- US TREASURY N/B 3.875000% 05/15/2043 1.80%
- US TREASURY N/B 4.625000% 05/15/2044 1.52%
Asset Allocation
Weighting | Return Low | Return High | LDRAX % Rank | |
---|---|---|---|---|
Bonds | 97.76% | 73.25% | 188.11% | 78.13% |
Other | 6.14% | -82.99% | 6.42% | 6.25% |
Cash | 3.87% | -2.42% | 10.01% | 25.00% |
Convertible Bonds | 0.22% | 0.00% | 2.97% | 65.63% |
Stocks | 0.00% | 0.00% | 9.21% | 21.88% |
Preferred Stocks | 0.00% | 0.00% | 17.79% | 50.00% |
Bond Sector Breakdown
Weighting | Return Low | Return High | LDRAX % Rank | |
---|---|---|---|---|
Corporate | 57.84% | 0.41% | 98.94% | 50.00% |
Government | 36.91% | 0.00% | 46.64% | 18.75% |
Derivative | 6.14% | 0.00% | 6.42% | 6.25% |
Cash & Equivalents | 3.87% | 0.00% | 10.01% | 21.88% |
Municipal | 3.22% | 0.00% | 99.04% | 31.25% |
Securitized | 1.04% | 0.00% | 4.69% | 25.00% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | LDRAX % Rank | |
---|---|---|---|---|
US | 97.76% | 73.25% | 184.13% | 75.00% |
Non US | 0.00% | 0.00% | 4.26% | 31.25% |
LDRAX - Expenses
Operational Fees
LDRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.38% | 0.04% | 4.14% | 59.38% |
Management Fee | 0.30% | 0.03% | 0.65% | 40.63% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.05% | 0.05% | 0.40% | 11.11% |
Sales Fees
LDRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.75% | 4.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
LDRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
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.
LDRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 1.00% | 85.00% | 86.84% |
LDRAX - Distributions
Dividend Yield Analysis
LDRAX | Category Low | Category High | LDRAX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.83% | 0.00% | 6.52% | 53.13% |
Dividend Distribution Analysis
LDRAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
LDRAX | Category Low | Category High | LDRAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.08% | 2.10% | 5.46% | 53.13% |
Capital Gain Distribution Analysis
LDRAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 30, 2024 | $0.024 | OrdinaryDividend |
Aug 30, 2024 | $0.025 | OrdinaryDividend |
Jul 31, 2024 | $0.025 | OrdinaryDividend |
Mar 28, 2024 | $0.027 | OrdinaryDividend |
Feb 29, 2024 | $0.022 | OrdinaryDividend |
Jan 31, 2024 | $0.023 | OrdinaryDividend |
Dec 29, 2023 | $0.024 | OrdinaryDividend |
Nov 30, 2023 | $0.024 | OrdinaryDividend |
Oct 31, 2023 | $0.024 | OrdinaryDividend |
Sep 29, 2023 | $0.023 | OrdinaryDividend |
Aug 31, 2023 | $0.024 | OrdinaryDividend |
Jul 31, 2023 | $0.024 | OrdinaryDividend |
Jun 30, 2023 | $0.024 | OrdinaryDividend |
May 31, 2023 | $0.024 | OrdinaryDividend |
Apr 28, 2023 | $0.024 | OrdinaryDividend |
Mar 31, 2023 | $0.025 | OrdinaryDividend |
Feb 28, 2023 | $0.022 | OrdinaryDividend |
Jan 31, 2023 | $0.024 | OrdinaryDividend |
Dec 30, 2022 | $0.024 | OrdinaryDividend |
Nov 30, 2022 | $0.023 | OrdinaryDividend |
Oct 31, 2022 | $0.023 | OrdinaryDividend |
Sep 30, 2022 | $0.023 | OrdinaryDividend |
Aug 31, 2022 | $0.023 | OrdinaryDividend |
Jul 29, 2022 | $0.023 | OrdinaryDividend |
Jun 30, 2022 | $0.022 | OrdinaryDividend |
May 31, 2022 | $0.023 | OrdinaryDividend |
Apr 29, 2022 | $0.022 | OrdinaryDividend |
Mar 31, 2022 | $0.024 | OrdinaryDividend |
Feb 28, 2022 | $0.020 | OrdinaryDividend |
Jan 31, 2022 | $0.022 | OrdinaryDividend |
Dec 31, 2021 | $0.022 | OrdinaryDividend |
Dec 16, 2021 | $0.012 | CapitalGainShortTerm |
Dec 16, 2021 | $0.120 | CapitalGainLongTerm |
Nov 30, 2021 | $0.021 | OrdinaryDividend |
Oct 29, 2021 | $0.022 | OrdinaryDividend |
Sep 30, 2021 | $0.021 | OrdinaryDividend |
Aug 31, 2021 | $0.022 | OrdinaryDividend |
Jul 30, 2021 | $0.023 | OrdinaryDividend |
Jun 30, 2021 | $0.022 | OrdinaryDividend |
May 28, 2021 | $0.022 | OrdinaryDividend |
Apr 30, 2021 | $0.021 | OrdinaryDividend |
Mar 31, 2021 | $0.023 | OrdinaryDividend |
Feb 26, 2021 | $0.020 | OrdinaryDividend |
Jan 29, 2021 | $0.023 | OrdinaryDividend |
Dec 31, 2020 | $0.023 | OrdinaryDividend |
Dec 11, 2020 | $0.531 | CapitalGainShortTerm |
Dec 11, 2020 | $0.305 | CapitalGainLongTerm |
Nov 30, 2020 | $0.024 | OrdinaryDividend |
Oct 30, 2020 | $0.025 | OrdinaryDividend |
Sep 30, 2020 | $0.025 | OrdinaryDividend |
Aug 31, 2020 | $0.025 | OrdinaryDividend |
Jul 31, 2020 | $0.026 | OrdinaryDividend |
Jun 30, 2020 | $0.025 | OrdinaryDividend |
May 29, 2020 | $0.026 | OrdinaryDividend |
Apr 30, 2020 | $0.026 | OrdinaryDividend |
Mar 31, 2020 | $0.026 | OrdinaryDividend |
Feb 28, 2020 | $0.023 | OrdinaryDividend |
Jan 31, 2020 | $0.025 | OrdinaryDividend |
Dec 31, 2019 | $0.026 | OrdinaryDividend |
Dec 13, 2019 | $0.273 | CapitalGainShortTerm |
Dec 13, 2019 | $0.158 | CapitalGainLongTerm |
Nov 29, 2019 | $0.026 | OrdinaryDividend |
Oct 31, 2019 | $0.027 | OrdinaryDividend |
Sep 30, 2019 | $0.027 | OrdinaryDividend |
Aug 30, 2019 | $0.027 | OrdinaryDividend |
Jul 31, 2019 | $0.028 | OrdinaryDividend |
Jun 28, 2019 | $0.027 | OrdinaryDividend |
Dec 14, 2018 | $0.026 | CapitalGainShortTerm |
Dec 14, 2018 | $0.028 | CapitalGainLongTerm |
Dec 14, 2017 | $0.008 | CapitalGainShortTerm |
Dec 14, 2017 | $0.049 | CapitalGainLongTerm |
Dec 15, 2016 | $0.160 | CapitalGainShortTerm |
Dec 15, 2016 | $0.070 | CapitalGainLongTerm |
Dec 11, 2015 | $0.224 | CapitalGainShortTerm |
Dec 11, 2015 | $0.158 | CapitalGainLongTerm |
Dec 11, 2013 | $0.041 | CapitalGainLongTerm |
Dec 07, 2011 | $0.373 | CapitalGainShortTerm |
Dec 07, 2011 | $0.218 | CapitalGainLongTerm |
LDRAX - Fund Manager Analysis
Managers
Bryan Whalen
Start Date
Tenure
Tenure Rank
Dec 31, 2004
17.42
17.4%
Bryan T. Whalen, CFA Group Managing Director U.S. Fixed Income Mr. Whalen is a Generalist Portfolio Manager in the U.S. Fixed Income Group. Mr. Whalen joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest) as co-head of the Securitized Products division. Prior to joining TCW, Mr. Whalen was a partner and co-head of MetWest's Securitized Products division. Prior to joining MetWest in 2004, he was a director in the fixed income department at Credit Suisse First Boston in New York. Previously, he was a vice president at Donaldson, Lufkin & Jenrette. Mr. Whalen earned a BA in Economics from Yale University. He is a CFA charterholder.
Itai Lourie
Start Date
Tenure
Tenure Rank
Jul 29, 2009
12.85
12.9%
Itai is a Co-CIO of fixed income and a fixed income portfolio manager. He joined Jennison in 1996. Prior to assuming his current position in 2005, he was a fixed income trader with the firm. Itai received a BA in English from Amherst College.
William O'Malley
Start Date
Tenure
Tenure Rank
Apr 02, 2010
12.17
12.2%
Bill joined IR+M in September 1994. Prior to IR+M, Bill was a Vice President at Wellington Management Company, LLP. Before joining Wellington in 1989, Bill worked at The Vanguard Group and in Morgan Stanley's Fixed Income Division. Bill has a BA from Amherst College (1984) and an MBA from The Wharton School of the University of Pennsylvania (1989).
Timothy Bacik
Start Date
Tenure
Tenure Rank
Sep 30, 2011
10.67
10.7%
Tim Bacik, CFA graduated from Wesleyan University with a B.A. in Economics. Mr. Bacik joined LGIMA in 2011 as a Senior Portfolio Manager and has over 23 years of industry experience. Tim serves as an analyst and portfolio manager, with over 14 years of fixed income experience. In 2019, he was promoted to Head of Active Fixed Income. Prior to joining Lee Munder Capital Group in April 2004, he worked at Alliance Capital as a portfolio manager for institutional core/core+ fixed income products. His responsibilities also included generating and executing strategies across all Alliance fixed income credit investors and providing daily commentary to Alliance fixed income personnel, who then communicated these strategies, ideas, and market events.
Eric Staudt
Start Date
Tenure
Tenure Rank
Sep 30, 2011
10.67
10.7%
Eric is a fixed income portfolio manager. He joined Jennison in 2010. Prior to Jennison, Eric worked at UBS Global Asset Management for eleven years, most recently as a senior fixed income portfolio manager. He received a BA in economics from the University of Illinois and an MBA from DePaul University.
Dave Nirtaut
Start Date
Tenure
Tenure Rank
Sep 30, 2011
10.67
10.7%
Dave Nirtaut joined LGIMA in 2007 as Head of Securitized Assets and Interest Rates and was promoted to Head of Portfolio Management in 2012, and to Co-Head of Fixed Income in 2013. Mr. Nirtaut graduated from Indiana University with a B.S. in Finance and Accounting and from the University of Notre Dame with an M.B.A., magna cum laude.
Jeffrey Koch
Start Date
Tenure
Tenure Rank
Dec 31, 2011
10.42
10.4%
Jeff Koch, CFA, joined LGIMA as a Senior Portfolio Manager in 2012 and was promoted to Co-Head of Fixed Income in 2013. In 2019, he was promoted to Head of Active Fixed Income. Mr. Koch has over 30 years of investment grade and high yield fixed income experience. Mr. Koch earned a B.S. in Economics from the University of Minnesota, Morris and an M.B.A. with an emphasis in Finance from Washington University. Prior to joining Metropolitan West Asset Management, Mr. Koch had been at Strong Capital Management for over 13 years where he was responsible for building their high yield bond business. Prior to joining Strong, he was employed by Fossett Corporation as a market maker clerk.
Richard Bamford
Start Date
Tenure
Tenure Rank
Dec 31, 2014
7.42
7.4%
Richard A. Bamford serves as a Portfolio Manager for the Fixed Income Team within SIMC's Investment Management Unit. Mr. Bamford is responsible for investment grade debt and municipal bond portfolios. Mr. Bamford's duties include manager analysis and selection, strategy development and enhancement as well as investment research. Mr. Bamford has over 20 years of investment experience in investment management. Prior to joining SEI in 1999, Mr. Bamford worked as a Municipal Credit Analyst for Vanguard. Mr. Bamford received a Bachelor of Science in Economics/Finance and Accounting from the University of Scranton and an M.B.A. with a concentration in Finance from St. Joseph's University.
Jake Remley
Start Date
Tenure
Tenure Rank
Sep 30, 2020
1.67
1.7%
Jake joined IR+M in July 2005. Prior to IR+M, he was an associate with Lehman Brothers Holdings. Previously, he was a Senior Consultant at Whitelight Systems, Inc. Jake has a BSE from Princeton University (1995) and an MBA from the Kellogg School of Management at Northwestern University (2002).
David Morse
Start Date
Tenure
Tenure Rank
Sep 30, 2020
1.67
1.7%
David is a fixed income portfolio manager. He joined Jennison in 2020. Prior to Jennison, David was Managing Director of Global Credit and Head of Credit Research at Mellon Investment Management. David joined Mellon in 2006 as an Associate Portfolio Manager, and over the 14 years there has held several different positions spanning trading, research and portfolio management. Prior to joining Mellon, David worked at Merrill Lynch and PricewaterhouseCoopers. He received a B.A. from Lafayette College and an M.B.A. and M.S.F. from Boston College.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
1.67 | 17.42 | 8.03 | 6.25 |