SEATX: SEI Tax-Advantaged Income F (STET)

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SEATX SEI Tax-Advantaged Income F (STET)


Profile

SEATX - Profile

Vitals

  • YTD Return -5.7%
  • 3 Yr Annualized Return -1.4%
  • 5 Yr Annualized Return -0.7%
  • Net Assets $1.37 B
  • Holdings in Top 10 12.6%

52 WEEK LOW AND HIGH

$9.84
$9.00
$10.72

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.08%

SALES FEES

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

BROKERAGE FEES

  • Turnover 40.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $100,000
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Long-Term Bond

Distributions

  • YTD Total Return -5.7%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.24%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SEI Tax Exempt Trust Tax-Advantaged Income Fund
  • Fund Family Name
    SEI
  • Inception Date
    Sep 04, 2007
  • Shares Outstanding
    112744391
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Mark Lieb

Fund Description

The fund normally invests at least 50% of its net assets in municipal securities, such as bonds, that pay interest that is exempt from federal income tax, including the alternative minimum tax. The principal issuers of these securities are state and local governments and their agencies located in any of the fifty states, as well as in Puerto Rico and other U.S. territories and possessions.


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Categories

Performance

SEATX - Performance

Return Ranking - Trailing

Period SEATX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.7% -6.7% 5.5% 66.67%
1 Yr -4.1% -4.1% 14.9% 81.25%
3 Yr -1.4%* -1.4% 5.6% 91.67%
5 Yr -0.7%* -7.3% 1.9% 40.00%
10 Yr 0.6%* -6.5% 3.3% 37.50%

* Annualized

Return Ranking - Calendar

Period SEATX Return Category Return Low Category Return High Rank in Category (%)
2019 4.5% 0.0% 18.4% 93.33%
2018 -4.0% -11.7% 3.0% 15.38%
2017 3.6% 1.3% 8.0% 75.00%
2016 -2.1% -32.2% 5.6% 63.64%
2015 1.5% -16.2% 1.5% 10.00%

Total Return Ranking - Trailing

Period SEATX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.7% -6.7% 5.5% 66.67%
1 Yr -4.1% -4.1% 14.9% 81.25%
3 Yr -1.4%* -1.4% 5.6% 91.67%
5 Yr -0.7%* -7.3% 1.9% 40.00%
10 Yr 0.6%* -6.5% 3.3% 37.50%

* Annualized

Total Return Ranking - Calendar

Period SEATX Return Category Return Low Category Return High Rank in Category (%)
2019 4.5% 0.0% 18.4% 93.33%
2018 -4.0% -11.7% 3.0% 15.38%
2017 3.6% 1.3% 8.0% 75.00%
2016 -2.1% -32.2% 5.6% 63.64%
2015 1.5% -16.2% 1.5% 10.00%

NAV & Total Return History


Holdings

SEATX - Holdings

Concentration Analysis

SEATX Category Low Category High SEATX % Rank
Net Assets 1.37 B 37.4 M 13.6 B 73.33%
Number of Holdings 579 147 2350 73.33%
Net Assets in Top 10 119 M -670 M 2.55 B 46.67%
Weighting of Top 10 12.60% 12.6% 64.7% 90.91%

Top 10 Holdings

  1. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.12% 2.06%
  2. US Treasury Bond Future June 20 1.90%
  3. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 1.61%
  4. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 1.20%
  5. JEFFERSON CNTY ALA SWR REV 6.5% 1.08%
  6. HOUSTON CNTY GA HOSP AUTH REV 5% 1.00%
  7. PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.75% 0.99%
  8. CHICAGO ILL 6% 0.98%
  9. INDIANA FIN AUTH EXEMPT FAC REV 7% 0.93%
  10. MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV 5% 0.84%

Asset Allocation

Weighting Return Low Return High SEATX % Rank
Bonds
83.64% 73.09% 156.34% 73.33%
Preferred Stocks
8.55% 0.00% 13.10% 20.00%
Cash
4.55% -60.67% 5.22% 20.00%
Convertible Bonds
2.64% 0.00% 3.99% 46.67%
Stocks
0.43% 0.00% 8.60% 20.00%
Other
0.19% -0.44% 20.34% 40.00%

Stock Sector Breakdown

Weighting Return Low Return High SEATX % Rank
Financial Services
100.00% 0.00% 100.00% 9.09%
Utilities
0.00% 0.00% 0.00% 9.09%
Technology
0.00% 0.00% 0.00% 9.09%
Real Estate
0.00% 0.00% 27.80% 27.27%
Industrials
0.00% 0.00% 0.00% 9.09%
Healthcare
0.00% 0.00% 0.00% 9.09%
Energy
0.00% 0.00% 54.59% 27.27%
Communication Services
0.00% 0.00% 13.79% 27.27%
Consumer Defense
0.00% 0.00% 0.00% 9.09%
Consumer Cyclical
0.00% 0.00% 0.00% 9.09%
Basic Materials
0.00% 0.00% 0.00% 9.09%

Stock Geographic Breakdown

Weighting Return Low Return High SEATX % Rank
Non US
0.41% 0.00% 1.12% 20.00%
US
0.02% 0.00% 7.48% 20.00%

Bond Sector Breakdown

Weighting Return Low Return High SEATX % Rank
Municipal
75.83% 0.01% 75.83% 6.67%
Corporate
19.51% 19.51% 77.86% 93.33%
Cash & Equivalents
4.50% 0.21% 16.79% 66.67%
Government
0.16% 0.00% 48.16% 80.00%
Derivative
0.00% 0.00% 27.48% 46.67%
Securitized
0.00% 0.00% 11.94% 93.33%

Bond Geographic Breakdown

Weighting Return Low Return High SEATX % Rank
US
76.09% 72.32% 128.18% 46.67%
Non US
7.55% 0.00% 28.16% 73.33%

Expenses

SEATX - Expenses

Operational Fees

SEATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.08% 0.04% 2.12% 40.00%
Management Fee 0.50% 0.04% 1.10% 37.50%
12b-1 Fee N/A 0.25% 1.00% N/A
Administrative Fee 0.30% 0.08% 0.40% 44.44%

Sales Fees

SEATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.25% 4.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

SEATX 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.

SEATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 40.00% 3.00% 189.00% 53.33%

Distributions

SEATX - Distributions

Dividend Yield Analysis

SEATX Category Low Category High SEATX % Rank
Dividend Yield 0.00% 0.00% 1.09% 37.50%

Dividend Distribution Analysis

SEATX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

SEATX Category Low Category High SEATX % Rank
Net Income Ratio 4.24% 2.69% 4.49% 20.00%

Capital Gain Distribution Analysis

SEATX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

SEATX - Fund Manager Analysis

Managers

Mark Lieb


Start Date

Tenure

Tenure Rank

Sep 04, 2007

12.5

12.5%

Prior to founding Spectrum in 1987, Mr. Lieb was a Founder, Director and Partner of DBL Preferred Management, Inc., a wholly owned corporate cash management subsidiary of Drexel Burnham Lambert, Inc. Mr. Lieb was instrumental in the formation and development of all aspects of DBL Preferred Management, Inc., including the daily management of preferred stock portfolios for institutional clients, hedging strategies, and marketing strategies. Mr. Lieb's prior employment included the development of the preferred stock trading desk at Mosley Hallgarten & Estabrook. Mr. Lieb holds a BA in Economics from Central Connecticut State College and a MBA (Finance) from the University of Hartford.

L. Jacoby


Start Date

Tenure

Tenure Rank

Sep 04, 2007

12.5

12.5%

Mr. Jacoby joined Spectrum in 1995 as a Portfolio Manager and most recently held the position of Managing Director and Senior Portfolio Manager until his appointment as CIO on January 1, 2010, following the planned retirement of his predecessor. Prior to joining Spectrum, Mr. Jacoby was a Senior Investment Officer at USL Capital Corporation (a subsidiary of Ford Motor Corporation) and co-manager of the preferred stock portfolio of its US Corporate Financing Division for six years. Mr. Jacoby began his career in 1981 with The Northern Trust Company, Chicago and then moved to Los Angeles to join E.F. Hutton & Co. as a Vice President and Institutional Salesman, Generalist Fixed Income Sales through most of the 1980s. Mr. Jacoby holds a BSBA (Finance) from the Boston University School of Management.

Manu Krishnan


Start Date

Tenure

Tenure Rank

Dec 31, 2007

12.17

12.2%

Richard Bamford


Start Date

Tenure

Tenure Rank

Dec 31, 2007

12.17

12.2%

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.

Fernando Diaz


Start Date

Tenure

Tenure Rank

Dec 31, 2007

12.17

12.2%

Prior to joining Spectrum in 2000, Mr. Diaz was head of preferred trading at Spear, Leeds & Kellogg and Pershing, a division of DLJ, where he initiated preferred trading operations at both firms. Mr. Diaz also worked at Goldman Sachs as an analyst in the Investment Banking division and in the Preferred Stock Department as a trader and product analyst.

Roberto Giangregorio


Start Date

Tenure

Tenure Rank

Dec 31, 2007

12.17

12.2%

Mr. Giangregorio joined Spectrum in 2003. Previously, he was an intern with the Cayuga MBA Fund LLC where he covered Utility Sector equities. He also worked for the Ford Motor Company for over eight years as an engine design engineer. Mr. Giangregorio holds a BS (Mechanical Engineering) from S.U.N.Y. at Stony Brook, a MS (Mechanical Engineering) from the University of Wisconsin-Madison and a MBA (Finance) with distinction from Cornell University.

Erin Garrett


Start Date

Tenure

Tenure Rank

Dec 31, 2014

5.17

5.2%

Ms. Garrett serves as a Portfolio Manager for the SEI US Investment Grade fixed income strategies within the Investment Management Unit. Ms. Garrett is responsible for the selection of fund sub-advisers and the allocations among these managers to optimize diversification of style and alpha source within the fixed income funds. In this capacity, Ms. Garrett primarily oversees daily cash flows, portfolio exposures, portfolio risks, and performance attribution. In her preceding role, Ms. Garrett 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 and her M.B.A. with concentrations in Strategic Management and International Business from the Villanova University School of Business, where she graduated magna cum laude. Ms. Garrett is the former President of SEI's Women's Network and currently serves on the SEI Corporate Innovation team.

David Hammer


Start Date

Tenure

Tenure Rank

Dec 31, 2015

4.17

4.2%

Mr. Hammer is an executive vice president in the New York office and head of municipal bond portfolio management. He rejoined PIMCO in 2015 from Morgan Stanley, where he was managing director and head of municipal trading, risk management and research. Previously at PIMCO, he was a senior vice president and municipal bond portfolio manager, and prior to joining PIMCO in 2012, he was an executive director and head of the high yield and distressed municipal bond trading group at Morgan Stanley. He holds an undergraduate degree from Syracuse University.

Dennis Derby


Start Date

Tenure

Tenure Rank

Dec 11, 2017

2.22

2.2%

Mr. Derby joined Wells Capital Management or one of its predecessor firms in 1995, where he currently serves as a Senior Research Analyst and Portfolio Manager with the Tax- Exempt Fixed-Income team.

Terry Goode


Start Date

Tenure

Tenure Rank

Dec 11, 2017

2.22

2.2%

Terry Goode is a senior portfolio manager for the Wells Fargo Asset Management (WFAM) Municipal Fixed Income team, where he manages California, Arizona, Colorado, and Oregon funds and separate accounts. Previously, Terry served as the leader of the WFAM Tax-Exempt Research team, where he managed a group of professionals who provide credit research for the Municipal Fixed Income team. He also specialized in directly covering a number of municipal sectors. Prior to joining WFAM in 2002, he performed similar research duties and provided bond ratings as a director at Standard & Poor’s Credit Market Services, focusing on health care, education and nonprofit sectors. He began his investment industry career in 1995 when he held a similar position with Wells Fargo Bank’s health care division, analyzing the credit quality for a variety of nonprofit and corporate health care organizations. He earned a bachelor’s degree in economics from the University of California, Los Angeles, and a master’s degree in business administration with an emphasis in finance and investment strategy from the Haas School of Business at the University of California, Berkeley. Terry is a member of the California Society of Municipal Analysts, the National Federation of Municipal Analysts and the Healthcare Financial Management Association. His industry comments can often be found in The Bond Buyer.

Tenure Analysis

Category Low Category High Category Average Category Mode
1.42 12.59 7.1 4.0