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SITEX SEI Emerging Markets Debt F (SIT)

  • Fund
  • SITEX
  • Price as of: May 22, 2019
  • $9.63 + $0.01 + 0.10%
  • Category
  • Emerging Markets Bonds
  • Fund Company
  • SEI

SITEX - Profile

Vitals

  • YTD Return 4.7%
  • 3 Yr Annualized Return 1.1%
  • 5 Yr Annualized Return -2.0%
  • Net Assets $1.57 B
  • Holdings in Top 10 11.0%

52 WEEK LOW AND HIGH

$9.63
$8.93
$9.83

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.61%

SALES FEES

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

BROKERAGE FEES

  • Turnover 80.00%

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 4.7%
  • 3 Yr Annualized Total Return 1.1%
  • 5 Yr Annualized Total Return -2.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.08%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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 149580894
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Peter J. Wilby

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 (%)
YTD 4.7% -1.8% 8.4% 39.38%
1 Yr -1.0% -16.2% 3.3% 48.65%
3 Yr 1.1%* -8.7% 42.3% 20.00%
5 Yr -2.0%* -10.8% 21.0% 42.06%
10 Yr 0.8%* -4.9% 15.0% 55.93%

* Annualized


Return Ranking - Calendar

Period SITEX Return Category Return Low Category Return High Rank in Category (%)
2018 -10.8% -19.9% -2.8% 44.59%
2017 9.9% -9.1% 35.5% 8.11%
2016 7.7% -5.2% 219.0% 28.64%
2015 -9.6% -26.3% 0.9% 55.00%
2014 -3.9% -22.4% 78.2% 43.07%

Total Return Ranking - Trailing

Period SITEX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.7% -1.8% 8.4% 42.04%
1 Yr -1.0% -16.2% 7.5% 58.11%
3 Yr 1.1%* -4.8% 49.8% 50.91%
5 Yr -2.0%* -8.1% 28.8% 59.81%
10 Yr 0.8%* -3.3% 24.2% 64.41%

* Annualized


Total Return Ranking - Calendar

Period SITEX Return Category Return Low Category Return High Rank in Category (%)
2018 -10.8% -19.3% 0.0% 65.32%
2017 9.9% 1.3% 36.0% 34.68%
2016 7.7% -3.5% 242.1% 44.55%
2015 -9.6% -26.3% 7.1% 55.00%
2014 -3.9% -22.2% 78.2% 55.45%

NAV & Total Return History

SITEX - Holdings

Concentration Analysis

SITEX Category Low Category High SITEX % Rank
Net Assets 1.57 B 1.89 M 9.11 B 13.27%
Number of Holdings 908 4 1082 1.77%
Net Assets in Top 10 118 M 1.51 M 1.69 B 23.01%
Weighting of Top 10 10.95% 4.2% 342.5% 92.04%

Top 10 Holdings

  1. Euro BUND Future June19 1.70%

  2. Secretaria Tesouro Nacional 10% 1.39%

  3. Mexico (United Mexican States) 10% 1.33%

  4. US 10 Year Note (CBT) June19 1.21%

  5. Brazil (Federative Republic) 10% 1.09%

  6. Russian Federation 7.05% 0.97%

  7. Mexico (United Mexican States) 7.5% 0.90%

  8. Republic of Colombia 10% 0.88%

  9. Russian Federation 8.15% 0.76%

  10. Poland (Republic of) 2.5% 0.71%


Asset Allocation

Weighting Return Low Return High SITEX % Rank
Bonds
94.38% 0.00% 122.39% 45.58%
Cash
9.68% -105.39% 46.25% 20.80%
Stocks
0.00% -0.74% 99.94% 60.62%
Preferred Stocks
0.00% 0.00% 2.48% 50.88%
Convertible Bonds
0.00% 0.00% 7.33% 65.93%
Other
-4.05% -4.05% 9.35% 100.00%

Bond Sector Breakdown

Weighting Return Low Return High SITEX % Rank
Government
81.34% 0.00% 99.34% 19.91%
Corporate
10.77% 0.00% 90.21% 76.55%
Cash & Equivalents
9.68% -104.31% 46.25% 21.24%
Derivative
2.03% -21.39% 20.63% 5.31%
Securitized
0.04% 0.00% 35.33% 13.72%
Municipal
0.00% 0.00% 0.66% 50.88%

Bond Geographic Breakdown

Weighting Return Low Return High SITEX % Rank
Non US
91.32% 0.00% 146.98% 48.23%
US
3.06% -52.43% 77.37% 47.79%

SITEX - Expenses

Operational Fees

SITEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.61% 0.29% 1595.87% 39.38%
Management Fee 0.85% 0.00% 1.30% 81.86%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.45% 0.01% 0.60% 93.75%

Sales Fees

SITEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SITEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 0.75% 2.00% 95.16%

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 Return Low Category Return High Rank in Category (%)
Turnover 80.00% 4.00% 436.00% 46.02%

SITEX - Distributions

Dividend Yield Analysis

SITEX Category Low Category High SITEX % Rank
Dividend Yield 0.01% 0.00% 1.63% 90.27%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

SITEX Category Low Category High SITEX % Rank
Net Income Ratio 5.08% 0.31% 8.90% 37.17%

Capital Gain Distribution Analysis

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

SITEX - Managers

Peter J. Wilby

Manager

Start Date

Tenure

Tenure Rank

Jan 31, 2006

13.25

13.3%

Wilby has served as, since December 2018, Co-Chief Investment Officer of Stone Harbor. From April 2006 to December 2018, Wilby was Chief Investment Officer of Stone Harbor. 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. Wilby began business career in 1980.


James E. Craige

Manager

Start Date

Tenure

Tenure Rank

Jan 31, 2006

13.25

13.3%

James E. Craige, Since December 2018, Co-Chief Investment Officer of Stone Harbor; From April 2006 to December 2018, Portfolio Manager of Stone Harbor; 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.


Pablo Cisilino

Manager

Start Date

Tenure

Tenure Rank

Jul 01, 2006

12.84

12.8%

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.


David A. Oliver

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2008

10.33

10.3%

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.


William W. Perry

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2012

6.58

6.6%

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.


Rob Drijkoningen

Manager

Start Date

Tenure

Tenure Rank

Dec 20, 2013

5.36

5.4%

Mr. Drijkoningen, Managing Director, joined Neuberger Berman in 2013. Mr. Drijkoningen is a Portfolio Manager and Co-Head of the Emerging Markets Debt team. Mr. Drijkoningen 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 $16 billion in assets. Mr. Drijkoningen earned his macro-economics degree from Erasmus University in Rotterdam and has authored numerous articles on emerging markets debt subjects. Mr. Drijkoningen is DSI qualified.


Raoul Luttik

Manager

Start Date

Tenure

Tenure Rank

Dec 20, 2013

5.36

5.4%

Mr. 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. Mr. Luttik 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. Mr. Luttik acquired a degree in Economics from Rijksuniversiteit Groningen in 1993. In 1997 Mr. Luttik became RBA registered (Register of Investment Analysts) a registration affiliated with the European Federation of Financial Analysts Societies. Mr. Luttik is also DSI qualified.


Vera Kartseva

Manager

Start Date

Tenure

Tenure Rank

Dec 20, 2013

5.36

5.4%

Ms. Kartseva, Vice President, joined Neuberger Berman from ING Investment Management where she was most recently a Strategist on the Emerging Markets Debt team. Prior to that, Ms. Kartseva was a Quantitative Analyst on the Multi-Asset Group of ING Investment Management.


Jennifer Gorgoll

Manager

Start Date

Tenure

Tenure Rank

Dec 20, 2013

5.36

5.4%

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.


Gorky Urquieta

Manager

Start Date

Tenure

Tenure Rank

Dec 20, 2013

5.36

5.4%

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.


Tenure Analysis

Category Low

0.0

Category High

24.35

Category Average

5.29

Category Mode

8.4