SIIT EMERGING MARKETS DEBT FUND
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
4.0%
1 yr return
11.6%
3 Yr Avg Return
0.3%
5 Yr Avg Return
0.7%
Net Assets
$1.74 B
Holdings in Top 10
8.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.71%
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
SEDAX - Profile
Distributions
- YTD Total Return 4.0%
- 3 Yr Annualized Total Return 0.3%
- 5 Yr Annualized Total Return 0.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.72%
- Dividend Yield 6.3%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameSIIT EMERGING MARKETS DEBT FUND
-
Fund Family NameSEI Funds
-
Inception DateDec 05, 2005
-
Shares Outstanding238553946
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavid Oliver
Fund Description
Under normal circumstances, the Emerging Markets Debt Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed income securities of emerging market
issuers. The Fund will invest in debt securities of government, government-related and corporate issuers in emerging market countries, as well as entities organized to restructure the outstanding debt of such issuers. The Fund may obtain its exposures by investing directly (e.g., in fixed income securities and other instruments) or indirectly/synthetically (e.g., through the use of derivative instruments, principally futures contracts, forward contracts, swaps, including swaps based on a single security or an index of securities, interest rate swaps, credit default swaps, currency swaps and fully funded total return swaps, and structured securities, such as credit-linked notes). The Fund may invest in swaps based on a single security or an index of securities, including interest rate swaps, credit default swaps, currency swaps and fully-funded total return swaps. Emerging market countries are those countries that are: (i) characterized as developing or emerging by any of the World Bank, the United Nations, the International Finance Corporation, or the European Bank for Reconstruction and Development; (ii) included in an emerging markets index by a recognized index provider; or (iii) countries with similar developing or emerging characteristics as countries classified as emerging market countries pursuant to sub-paragraph (i) and (ii) above, in each case determined at the time of purchase. Due to its investment strategy, the Fund may buy and sell securities and other instruments frequently.
The Fund uses a multi-manager approach, relying upon a number of sub-advisers (each, a Sub-Adviser and collectively, the Sub-Advisers) with differing investment philosophies to manage portions of the Fund's portfolio under the general supervision of SEI Investments Management Corporation (SIMC or the Adviser), the Fund's adviser. The Sub-Advisers will spread the Fund's holdings across a number of countries and industries to limit its exposure to a single emerging market economy and may not invest more than 25% of its assets in any single country. There are no restrictions on the Fund's average portfolio maturity or on the maturity of any specific security. There is no minimum rating standard for the Fund's securities and the Fund's securities will generally be in the lower or lowest rating categories (including junk bonds).
The Sub-Advisers may seek to enhance the Fund's return by actively managing the Fund's foreign currency exposure. In managing the Fund's currency exposure, the Sub-Advisers buy and sell currencies (i.e., take long or short positions) using derivatives, principally, swaps, futures and foreign currency forward contracts. The Fund may take long and short positions in foreign currencies in excess of the value of the Fund's assets denominated in a particular currency or when the Fund does not own assets denominated in that currency. The Fund may also engage in currency transactions in an attempt to take advantage of certain inefficiencies in the currency exchange market, to increase its exposure to a foreign currency or to shift exposure to foreign currency fluctuations from one currency to another. In managing the Fund's currency exposure from foreign securities, the Sub-Advisers may buy and sell currencies for hedging or for speculative purposes.
The Fund may also invest in futures contracts, forward contracts and swaps for speculative or hedging purposes. Futures contracts, forward contracts and swaps are used to synthetically obtain exposure to the securities identified above or baskets of such securities and to manage the Fund's interest rate duration and yield curve exposure. These derivatives are also used to mitigate the Fund's overall level of risk and/or the Fund's risk to particular types of securities, currencies or market segments. Interest rate swaps are further used to manage the Fund's yield spread sensitivity. When the Fund seeks to take an active long or short position with respect to the likelihood of an event of default of a security or basket of securities, the Fund may use credit default swaps. 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 purchase shares of exchange-traded funds (ETFs) to gain exposure to a particular portion of the market while awaiting an opportunity to purchase securities or other instruments directly.
SEDAX - Performance
Return Ranking - Trailing
Period | SEDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.0% | -5.8% | 469.7% | 60.88% |
1 Yr | 11.6% | -1.0% | 511.1% | 57.14% |
3 Yr | 0.3%* | -8.3% | 59.4% | 29.93% |
5 Yr | 0.7%* | -7.6% | 29.3% | 45.76% |
10 Yr | 1.8%* | -5.6% | 14.5% | 44.26% |
* Annualized
Return Ranking - Calendar
Period | SEDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.8% | -10.6% | 17.8% | 14.92% |
2022 | -16.3% | -29.1% | -2.4% | 35.44% |
2021 | -9.2% | -24.0% | 2.7% | 67.97% |
2020 | 3.0% | -14.0% | 9.7% | 17.28% |
2019 | 11.3% | -6.4% | 13.0% | 4.10% |
Total Return Ranking - Trailing
Period | SEDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.0% | -5.8% | 469.7% | 60.88% |
1 Yr | 11.6% | -1.0% | 511.1% | 57.14% |
3 Yr | 0.3%* | -8.3% | 59.4% | 29.93% |
5 Yr | 0.7%* | -7.6% | 29.3% | 45.76% |
10 Yr | 1.8%* | -5.6% | 14.5% | 44.26% |
* Annualized
Total Return Ranking - Calendar
Period | SEDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.7% | -0.6% | 20.0% | 7.46% |
2022 | -14.5% | -27.6% | -1.7% | 59.65% |
2021 | -4.9% | -18.5% | 7.4% | 66.55% |
2020 | 4.7% | -7.8% | 18.0% | 57.35% |
2019 | 15.0% | -3.0% | 23.0% | 23.13% |
NAV & Total Return History
SEDAX - Holdings
Concentration Analysis
SEDAX | Category Low | Category High | SEDAX % Rank | |
---|---|---|---|---|
Net Assets | 1.74 B | 565 K | 14.8 B | 11.53% |
Number of Holdings | 1860 | 4 | 1860 | 0.34% |
Net Assets in Top 10 | 150 M | -134 M | 1.25 B | 32.88% |
Weighting of Top 10 | 8.60% | 5.8% | 102.2% | 95.21% |
Top 10 Holdings
- US 5YR NOTE (CBT) DEC24 FINANCIAL COMMODITY FUTURE. 1.37%
- US TREASURY N/B 3.125000% 08/31/2029 1.21%
- THAILAND GOVERNMENT BOND 2.650000% 06/17/2028 0.96%
- US 10YR NOTE (CBT)DEC24 FINANCIAL COMMODITY FUTURE. 0.87%
- POLAND GOVERNMENT BOND 7.500000% 07/25/2028 0.86%
- REPUBLIC OF SOUTH AFRICA 8.000000% 01/31/2030 0.72%
- NOTA DO TESOURO NACIONAL 10.000000% 01/01/2029 0.68%
- REPUBLIC OF SOUTH AFRICA 8.500000% 01/31/2037 0.68%
- MALAYSIA GOVERNMENT 3.828000% 07/05/2034 0.63%
- US 2YR NOTE (CBT) DEC24 FINANCIAL COMMODITY FUTURE. 0.62%
Asset Allocation
Weighting | Return Low | Return High | SEDAX % Rank | |
---|---|---|---|---|
Bonds | 95.52% | 0.00% | 105.61% | 45.08% |
Cash | 2.49% | 0.00% | 24.01% | 74.24% |
Other | 1.99% | -13.89% | 86.73% | 12.88% |
Convertible Bonds | 0.13% | 0.00% | 8.47% | 51.37% |
Stocks | 0.00% | -0.01% | 96.53% | 57.97% |
Preferred Stocks | 0.00% | 0.00% | 2.76% | 36.95% |
Bond Sector Breakdown
Weighting | Return Low | Return High | SEDAX % Rank | |
---|---|---|---|---|
Government | 83.12% | 0.00% | 99.79% | 7.53% |
Corporate | 8.26% | 0.00% | 91.26% | 77.74% |
Derivative | 1.99% | -3.00% | 13.76% | 3.73% |
Cash & Equivalents | 0.00% | 0.00% | 23.23% | 81.69% |
Securitized | 0.00% | 0.00% | 2.41% | 43.15% |
Municipal | 0.00% | 0.00% | 0.00% | 34.93% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | SEDAX % Rank | |
---|---|---|---|---|
Non US | 51.68% | 0.00% | 132.49% | 31.53% |
US | 43.84% | -42.31% | 99.15% | 65.42% |
SEDAX - Expenses
Operational Fees
SEDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.71% | 0.02% | 32.92% | 87.41% |
Management Fee | 0.60% | 0.00% | 1.10% | 27.12% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.05% | 0.02% | 0.65% | 27.62% |
Sales Fees
SEDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.75% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
SEDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.75% | 2.00% | 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.
SEDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 218.00% | 73.72% |
SEDAX - Distributions
Dividend Yield Analysis
SEDAX | Category Low | Category High | SEDAX % Rank | |
---|---|---|---|---|
Dividend Yield | 6.31% | 0.00% | 22.22% | 7.80% |
Dividend Distribution Analysis
SEDAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
SEDAX | Category Low | Category High | SEDAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.72% | -2.28% | 8.00% | 20.83% |
Capital Gain Distribution Analysis
SEDAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Oct 07, 2024 | $0.135 | OrdinaryDividend |
Jul 09, 2024 | $0.119 | OrdinaryDividend |
Apr 05, 2024 | $0.126 | OrdinaryDividend |
Dec 28, 2023 | $0.259 | OrdinaryDividend |
Oct 05, 2023 | $0.127 | OrdinaryDividend |
Jul 06, 2023 | $0.141 | OrdinaryDividend |
Dec 29, 2022 | $0.166 | OrdinaryDividend |
Dec 30, 2021 | $0.228 | OrdinaryDividend |
Oct 05, 2021 | $0.070 | OrdinaryDividend |
Jul 07, 2021 | $0.106 | OrdinaryDividend |
Apr 06, 2021 | $0.043 | OrdinaryDividend |
Dec 30, 2020 | $0.077 | OrdinaryDividend |
Oct 06, 2020 | $0.083 | OrdinaryDividend |
Dec 30, 2019 | $0.157 | OrdinaryDividend |
Oct 08, 2019 | $0.048 | OrdinaryDividend |
Jul 09, 2019 | $0.132 | OrdinaryDividend |
Jul 09, 2018 | $0.111 | OrdinaryDividend |
Apr 09, 2018 | $0.045 | OrdinaryDividend |
Apr 06, 2018 | $0.179 | OrdinaryDividend |
Dec 28, 2017 | $0.336 | OrdinaryDividend |
Oct 05, 2017 | $0.121 | OrdinaryDividend |
Jul 07, 2017 | $0.025 | OrdinaryDividend |
Dec 29, 2016 | $0.312 | OrdinaryDividend |
Oct 06, 2016 | $0.023 | OrdinaryDividend |
Dec 30, 2015 | $0.012 | OrdinaryDividend |
Jul 08, 2015 | $0.076 | OrdinaryDividend |
Dec 30, 2014 | $0.103 | OrdinaryDividend |
Oct 03, 2014 | $0.126 | OrdinaryDividend |
Jul 03, 2014 | $0.156 | OrdinaryDividend |
Dec 30, 2013 | $0.095 | OrdinaryDividend |
Dec 11, 2013 | $0.077 | CapitalGainShortTerm |
Dec 11, 2013 | $0.044 | CapitalGainLongTerm |
Oct 03, 2013 | $0.088 | OrdinaryDividend |
Jul 03, 2013 | $0.146 | OrdinaryDividend |
Mar 27, 2013 | $0.144 | OrdinaryDividend |
Dec 28, 2012 | $0.433 | OrdinaryDividend |
Dec 12, 2012 | $0.115 | CapitalGainShortTerm |
Dec 12, 2012 | $0.366 | CapitalGainLongTerm |
Oct 03, 2012 | $0.133 | OrdinaryDividend |
Jul 05, 2012 | $0.128 | OrdinaryDividend |
Mar 29, 2012 | $0.135 | OrdinaryDividend |
Dec 29, 2011 | $0.246 | OrdinaryDividend |
Dec 07, 2011 | $0.116 | CapitalGainLongTerm |
Oct 05, 2011 | $0.186 | OrdinaryDividend |
Jul 06, 2011 | $0.198 | OrdinaryDividend |
Mar 30, 2011 | $0.164 | OrdinaryDividend |
SEDAX - Fund Manager Analysis
Managers
David Oliver
Start Date
Tenure
Tenure Rank
Sep 30, 2008
13.67
13.7%
David joined the team in 2008. Prior to joining Stone Harbor, David served as a Managing Director for Sales and Trading in Emerging Markets Debt at Citigroup Global Markets. He is a member of the CFA Institute and the CFA Society New York. He attained a BA from Northwestern University, MA from the University of Delaware, and MBA from the Tuck School of Business at Dartmouth College.
William Perry
Start Date
Tenure
Tenure Rank
Sep 30, 2012
9.67
9.7%
William joined the team in 2012. Prior to joining Stone Harbor, William served as an Emerging Markets Corporate Portfolio Manager at Morgan Stanley Investment Management. Prior to Morgan Stanley, William served as a Managing Director/Portfolio Manager in the Global Special Opportunities Group for Latin American Special Situations at JPMorgan/Chase. While at JPMorgan, he also served in a series of roles including Credit Risk Manager for the Global Head of Emerging Markets, Co-Head of Emerging Markets Corporate Research, and as a Vice President for Global Emerging Markets Debt Restructuring, and Latin American Capital Market. Prior to JPMorgan, William served as a Senior Associate in the Investment Banking Group at Bank of America Securities Inc. William began his career as an Associate in the Petroleum Division at Irving Trust Company. He attained a BA in International Relations and Economics from Colgate University and an MBA in Finance from the Columbia Business School.
Raoul Luttik
Start Date
Tenure
Tenure Rank
Dec 20, 2013
8.45
8.5%
Raoul Luttik is a Managing Director of Neuberger Berman Investment Advisers LLC. He joined the firm in 2013 and is a portfolio manager for the Neuberger Berman Investment Advisers LLC’s Emerging Markets Debt team, responsible for managing Emerging Markets Debt Local Currency strategies. Raoul joined Neuberger Berman after working at ING Investment Management, where he was a Lead Portfolio Manager within their Emerging Markets team (local currency). He started at ING Investment Management in 1998. Raoul acquired a degree in Economics from Rijksuniversiteit Groningen in 1993. In 1997 Raoul became RBA registered (Register of Investment Analysts) a registration affiliated with the European Federation of Financial Analysts Societies. Raoul is also DSI qualified.
Rob Drijkoningen
Start Date
Tenure
Tenure Rank
Dec 20, 2013
8.45
8.5%
Rob Drijkoningen is a Managing Director of Neuberger Berman Investment Advisers LLC. Rob joined Neuberger Berman in 2013 and is a portfolio manager and co-head of the firm’s Emerging Markets Debt team. Rob joined Neuberger Berman after working at ING Investment Management for almost 18 years, most recently as the global Co-Head of the Emerging Markets Debt team responsible for managing over $24.2 billion in assets under management in Emerging Markets Debt (as of September 30, 2019) and 32 investment professionals. . He earned his Macro-Economics degree from Erasmus University in Rotterdam and has authored numerous articles on emerging markets debt subjects. Rob is DSI qualified.
Gorky Urquieta
Start Date
Tenure
Tenure Rank
Dec 20, 2013
8.45
8.5%
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 until 2013. 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.
Bart van der Made
Start Date
Tenure
Tenure Rank
Dec 20, 2013
8.45
8.5%
Bart van der Made, CFA, Managing Director, joined Neuberger Berman in 2013. Mr. van der Made is a lead Portfolio Manager on the Emerging Markets Debt team, responsible for managing EMD Hard Currency portfolios. Prior to joining Neuberger Berman, Mr. van der Made 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. Mr. van der Made earned a master's degree in Econometrics from Erasmus University in Rotterdam, and has been awarded the Chartered Financial Analyst designation.
Prashant Singh
Start Date
Tenure
Tenure Rank
Dec 20, 2013
8.45
8.5%
Prashant Singh, CFA, Managing Director, joined Neuberger Berman in 2013. Mr. Singh is the Lead Portfolio Manager (Asia) on the Emerging Markets Debt team. Mr. Singh 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. Mr. Singh joined ING Investment Management in 2003. Mr. Singh graduated from St. Stephen's College, University of Delhi, India with a BS in Mathematics and earned an M.B.A. from the Indian Institute of Management, Ahmedabad, specializing in Finance.
Louis Hanover
Start Date
Tenure
Tenure Rank
Oct 29, 2018
3.59
3.6%
Louis Hanover is Chief Investment Officer and Co-Managing Partner of the firm. Mr. Hanover oversees Marathon’s portfolio managers and their investment activities. Mr. Hanover’s responsibilities also include managing risk on a firm-wide basis, as well as serving as Senior Portfolio Manager for MSOF, MCOF, and managed accounts. Additionally, Mr. Hanover serves on Marathon’s Investment Committee and Executive Committee. Mr. Hanover has extensive trading experience and expertise as an asset manager, arbitrageur, and risk manager in both the equity and fixed income markets on a global basis. Prior to co-founding Marathon in 1998, Mr. Hanover was a Managing Director at Smith Barney, where he was responsible for all trading and risk management in the global emerging markets debt trading division. Earlier, Mr. Hanover was a Director of the global emerging markets debt and foreign exchange derivatives trading division at Merrill Lynch. In 1991, he pioneered the use of warrants on a basket of Latin American equities at Nomura Securities. Mr. Hanover previously traded European sovereign debt futures at First Chicago Capital Markets and was a floor trader at the Chicago Board of Trade. Mr. Hanover received a B.A. degree in Economic History from the University of Chicago (1986) and an MBA from the Graduate School of Business at the University of Chicago (1989).
Antoon de Klerk
Start Date
Tenure
Tenure Rank
Dec 31, 2018
3.42
3.4%
Antoon is an investment specialist and portfolio manager in the Fixed Income team at Ninety One. He is a portfolio manager for our Emerging Markets Local Currency Debt, Emerging Markets Local Currency Total Return Debt and African Fixed Income strategies. He also has joint regional research responsibilities for Africa and Latin America. He joined the Investec Group in 2005 as part of the Investec chartered accountant (TOPP) Programme. After spending time in accounts and investment banking where he was involved with merger and acquisition advisory work, he joined the firm in 2006. Antoon holds a Master’s degree (cum laude) in Economics and an honours degree in Accounting from the University of Stellenbosch and is a Chartered Accountant (SA). Antoon studied in Germany as part of his post-graduate economic studies.
Werner Gey van Pittius
Start Date
Tenure
Tenure Rank
Dec 31, 2018
3.42
3.4%
Werner is Co-Head of Emerging Market Sovereign & FX at Ninety One. He is jointly responsible with Peter Eerdmans for all global emerging market sovereign debt strategies. Werner is also responsible for CEEMEA research in the team. He moved to London from Cape Town where he was a fixed income quantitative analyst and managed Ninety One’s asset and liability matching book. Prior to Ninety One, Werner played professional rugby in concurrence with academic programmes. He holds a Bachelor of Commerce degree in Insurance Science from the University of Pretoria, a Bachelor of Commerce (Hons) degree in Financial Economics from the University of Stellenbosch, and a Master of Science degree in Applied Statistics from Oxford University. In addition, Werner obtained the Society of Technical Analysts diploma and was awarded the Chartered Financial Analyst (CFA®) designation from the CFA® Institute in 2006.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.15 | 23.87 | 6.49 | 6.11 |