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SEIMX SEI Intermediate-Term Municipal F (STET)

  • Fund
  • SEIMX
  • Price as of: May 22, 2019
  • $11.81 - $0.00 - 0.00%
  • Category
  • National Munis
  • Fund Company
  • SEI

SEIMX - Profile

Vitals

  • YTD Return 3.1%
  • 3 Yr Annualized Return -0.3%
  • 5 Yr Annualized Return 0.3%
  • Net Assets $2.06 B
  • Holdings in Top 10 6.4%

52 WEEK LOW AND HIGH

$11.81
$11.26
$11.82

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.81%

SALES FEES

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

BROKERAGE FEES

  • Turnover 17.00%

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 3.1%
  • 3 Yr Annualized Total Return -0.3%
  • 5 Yr Annualized Total Return 0.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.48%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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 162297403
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Richard A. Bamford

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 (%)
YTD 3.1% -3.2% 4.3% 30.43%
1 Yr 3.1% -3.1% 5.2% 17.19%
3 Yr -0.3%* -3.1% 1.8% 50.71%
5 Yr 0.3%* -2.2% 2.0% 28.42%
10 Yr 0.9%* -8.8% 2.8% 28.53%

* Annualized


Return Ranking - Calendar

Period SEIMX Return Category Return Low Category Return High Rank in Category (%)
2018 -1.9% -4.8% 0.8% 56.55%
2017 2.1% -0.9% 5.6% 34.94%
2016 -2.6% -6.1% 7.3% 57.84%
2015 0.2% -10.9% 2.6% 22.00%
2014 3.9% -60.4% 12.0% 51.05%

Total Return Ranking - Trailing

Period SEIMX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.1% -3.2% 4.8% 32.81%
1 Yr 3.1% -3.1% 7.2% 23.91%
3 Yr -0.3%* -3.0% 3.1% 59.06%
5 Yr 0.3%* -1.9% 3.8% 39.00%
10 Yr 0.9%* -8.8% 4.8% 38.65%

* Annualized


Total Return Ranking - Calendar

Period SEIMX Return Category Return Low Category Return High Rank in Category (%)
2018 -1.9% -4.8% 1.7% 59.92%
2017 2.1% -0.9% 6.2% 42.17%
2016 -2.6% -6.1% 7.3% 63.95%
2015 0.2% -9.6% 3.9% 27.70%
2014 3.9% -60.4% 12.0% 54.62%

NAV & Total Return History

SEIMX - Holdings

Concentration Analysis

SEIMX Category Low Category High SEIMX % Rank
Net Assets 2.06 B 770 K 66.2 B 34.39%
Number of Holdings 710 3 8426 22.38%
Net Assets in Top 10 131 M -122 M 1.81 B 48.91%
Weighting of Top 10 6.43% 2.5% 100.0% 91.68%

Top 10 Holdings

  1. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 3.95% 0.94%

  2. CITIZENS PPTY INS CORP FLA 5% 0.92%

  3. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 0.81%

  4. GREENVILLE CNTY S C SCH DIST INSTALLMENT PUR REV 5.5% 0.66%

  5. TOBACCO SETTLEMENT FING CORP N J 5% 0.56%

  6. DENVER COLO CITY & CNTY ARPT REV 5.5% 0.56%

  7. CONNECTICUT ST 5% 0.55%

  8. DELAWARE VALLEY PA REGL FIN AUTH LOC GOVT REV 2.83% 0.49%

  9. CALIFORNIA ST 5% 0.48%

  10. PHILADELPHIA PA SCH DIST 5% 0.45%


Asset Allocation

Weighting Return Low Return High SEIMX % Rank
Bonds
99.90% 66.80% 103.87% 15.84%
Cash
0.10% -2.12% 31.82% 81.98%
Stocks
0.00% 0.00% 0.01% 88.91%
Preferred Stocks
0.00% 0.00% 9.32% 88.91%
Other
0.00% -3.88% 30.00% 86.73%
Convertible Bonds
0.00% 0.00% 2.58% 88.91%

Bond Sector Breakdown

Weighting Return Low Return High SEIMX % Rank
Municipal
99.90% 0.00% 112.93% 15.64%
Cash & Equivalents
0.10% -7.72% 31.82% 79.01%
Derivative
0.00% 0.00% 0.01% 88.91%
Securitized
0.00% 0.00% 25.65% 89.11%
Corporate
0.00% 0.00% 39.31% 89.90%
Government
0.00% -13.64% 71.35% 83.76%

Bond Geographic Breakdown

Weighting Return Low Return High SEIMX % Rank
US
99.45% 53.15% 103.17% 10.69%
Non US
0.45% 0.00% 25.08% 37.62%

SEIMX - Expenses

Operational Fees

SEIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.81% 0.08% 4.80% 44.47%
Management Fee 0.33% 0.00% 0.65% 25.10%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.20% 0.01% 0.34% 91.20%

Sales Fees

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

Trading Fees

SEIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% 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 Return Low Category Return High Rank in Category (%)
Turnover 17.00% 0.00% 504.54% 27.08%

SEIMX - Distributions

Dividend Yield Analysis

SEIMX Category Low Category High SEIMX % Rank
Dividend Yield 0.02% 0.00% 0.94% 63.44%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

SEIMX Category Low Category High SEIMX % Rank
Net Income Ratio 2.48% 0.01% 4.95% 44.47%

Capital Gain Distribution Analysis

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

SEIMX - Managers

Richard A. Bamford

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 1999

19.34

19.3%

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.


Joseph R. Baxter

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2006

12.34

12.3%

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.


Stephen J. Czepiel

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2007

11.34

11.3%

Stephen J. Czepiel is a member of the firm’s municipal fixed income portfolio management team with primary responsibility for portfolio construction and strategic asset allocation. He is a co-portfolio manager of the firm’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. Czepiel earned his bachelor’s degree in finance and economics from Duquesne University.


Daniel Rabasco

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2010

8.33

8.3%

Dan is the head of municipal bonds at Mellon Investments Corp, overseeing and guiding the investment management process for the firm’s tax-exempt strategies. Previously, he was the head of trading for tax-exempt bonds, responsible for managing the municipal bond trading desk. Before joining the firm, Dan directed the municipal bond group at Fleet where he was responsible for managing mutual fund, common trust fund and high net worth client assets. Previously, he was a portfolio manager at Evergreen Investments, where he managed national and state-specific mutual funds. His other responsibilities included hospital and high yield credit analysis. Dan began his career as a municipal analyst at Liberty Insurance Company. Dan has been in the investment industry since 1987. Dan holds a BA from Boston College and an MBA from Suffolk University. Dan has served as a member of the Municipal Securities Rulemaking Board's Investor Advisory Group (2004-2008). He holds the CFA® designation and is a member of the CFA Institute.


Gregory A. Gizzi

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2012

6.33

6.3%

Gregory Gizzi Senior Vice President and Senior Portfolio Manager Gregory A. Gizzi is a member of DIFA’s municipal fixed income portfolio management team. He is also a co‑portfolio manager of DIFA’s municipal bond funds and several client accounts. Before joining MIM, which includes the former Delaware Investments, in 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. Mr. 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. Mr. Gizzi earned his bachelor’s degree in economics from Harvard University. Mr. Gizzi has served as a portfolio manager for the Fund since December 2012.


Erin K. Garrett

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2014

4.33

4.3%

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.


Tenure Analysis

Category Low

0.0

Category High

39.6

Category Average

7.67

Category Mode

4.15