SIIT Screened World Equity Ex-US Fund
Name
As of 04/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.9%
1 yr return
8.5%
3 Yr Avg Return
0.0%
5 Yr Avg Return
6.7%
Net Assets
$136 M
Holdings in Top 10
13.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.77%
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 04/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SSEAX - Profile
Distributions
- YTD Total Return 0.9%
- 3 Yr Annualized Total Return 0.0%
- 5 Yr Annualized Total Return 6.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.78%
- Dividend Yield 2.7%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameSIIT Screened World Equity Ex-US Fund
-
Fund Family NameSEI Funds
-
Inception DateJun 30, 2008
-
Shares Outstanding14390412
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerM. Forrest Badgley
Fund Description
Under normal circumstances, the Screened World Equity Ex-US Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of foreign companies of various capitalization ranges. These securities may include common stocks, preferred stocks, depositary receipts, warrants, exchange-traded funds (ETFs) that track an international ex-US equity index, derivative instruments (principally futures and forward contracts) whose value is based on an international equity index
or an underlying international equity security or basket of international equity securities and investment companies whose portfolios are designed to correlate with a portfolio of international equity securities.
Potential investments for the Fund are first assessed for financial soundness and then evaluated according to the Fund's social criteria (including "BDS" criteria, as described below). The Fund will invest in securities of foreign issuers located in developed and emerging market countries but will avoid investing in companies that have been identified as directly or indirectly benefiting the governments of countries that support terrorism, genocide or human rights abuses. This includes companies that pay royalties, such as those on oil or mining, to these governments and companies that help provide a stable economic environment that supports the government in its oppressive policies by having substantial operations or customers in the country. The Fund will also avoid investing in companies that have been identified as having adopted or implemented a "Pro-BDS" stance. "BDS" refers to the Palestinian-led movement promoting boycotts, divestments and economic sanctions against Israel. Accordingly, the Fund will maintain an "Anti-BDS" approach.
An independent compliance support organization will identify a list of issuers that have been identified as failing to meet the Fund's social criteria (including issuers that have a "Pro-BDS" stance). The list will be developed using information gathered from a variety of sources, such as government agencies, trade journals, direct company contacts and industry and regional publications. The Sub-Advisers will then rely on this list when determining what companies to avoid investing in. Additionally, a Sub-Adviser will promptly liquidate a position that no longer complies with the social criteria (including positions in issuers that have a "Pro-BDS" stance). The Adviser reserves the right to modify the Fund's social criteria from time to time in response to world events, such as changes in the governments that support terrorism, genocide or human rights abuses. All social criteria may be changed without shareholder approval. The Fund's Anti-BDS approach has been adopted to enable investment in the Fund by institutional investors that seek to support Israel or oppose the BDS movement in their investment implementation. This Fund policy is for the benefit of such investors and not meant as a formal representation of SEI's official corporate policy or position on the issue of BDS.
The Fund will not invest more than 35% of its assets in the common stocks or other equity securities of issuers located in emerging market countries. The Fund may also, to a lesser extent, invest in swaps on securities for risk management purposes or as part of its investment strategies. The Fund's benchmark is the MSCI All Country World Ex-U.S. Net Index (net of dividends). The Fund is expected to have an absolute return and risk profile similar to the international equity ex-US market. The Fund is diversified as to issuers, market capitalization, industry and country.
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 strategies to manage portions of the Fund's portfolio under the general supervision of SEI Investments Management Corporation (SIMC or the Adviser). Due to its investment strategy, the Fund may buy and sell securities frequently.
One or more Sub-Advisers may implement a long/short equity investment strategy by investing in securities believed to offer capital appreciation opportunities while also attempting to take advantage of an anticipated decline in the price of a company. A long/short equity investment strategy takes (i) long positions with respect to investments that the Sub-Adviser believes to be undervalued relative to their potential increase in price, and (ii) short positions (including through derivative instruments, such as swaps) with respect to investments that the Sub-Adviser believes to be overvalued and likely to decrease in price. A long/short equity investment strategy seeks returns from strong security selection on both the long and short sides. These long and short positions may be completely unrelated.
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 may buy and sell currencies (i.e., take long or short positions) using derivatives, principally foreign currency forward contracts, options and futures. 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 their exposure to a foreign currency or to shift exposure to foreign currency fluctuations from one currency to another.
The Fund may also invest in futures contracts and forward contracts for hedging purposes, including to seek to manage the Fund's currency exposure to foreign securities and mitigate the Fund's overall risk.
SSEAX - Performance
Return Ranking - Trailing
| Period | SSEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.9% | -7.9% | 28.1% | 87.05% |
| 1 Yr | 8.5% | -4.2% | 20.0% | 62.18% |
| 3 Yr | 0.0%* | -17.8% | 45.3% | 62.79% |
| 5 Yr | 6.7%* | -34.3% | 75.3% | 25.71% |
| 10 Yr | 5.9%* | -0.6% | 16.1% | 5.37% |
* Annualized
Return Ranking - Calendar
| Period | SSEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.9% | -7.3% | 22.0% | 68.31% |
| 2022 | -19.3% | -43.6% | 71.3% | 69.76% |
| 2021 | -9.3% | -28.5% | 18.9% | 94.57% |
| 2020 | 13.7% | -90.1% | 992.1% | 22.17% |
| 2019 | 21.5% | -1.9% | 38.8% | 28.84% |
Total Return Ranking - Trailing
| Period | SSEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.9% | -7.9% | 28.1% | 87.05% |
| 1 Yr | 8.5% | -4.2% | 20.0% | 62.18% |
| 3 Yr | 0.0%* | -17.8% | 45.3% | 62.79% |
| 5 Yr | 6.7%* | -34.3% | 75.3% | 25.71% |
| 10 Yr | 5.9%* | -0.6% | 16.1% | 5.37% |
* Annualized
Total Return Ranking - Calendar
| Period | SSEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 15.0% | 3.2% | 41.4% | 69.81% |
| 2022 | -14.2% | -43.6% | 144.8% | 26.75% |
| 2021 | 9.3% | -22.6% | 56.0% | 61.80% |
| 2020 | 16.5% | -89.7% | 1010.8% | 18.50% |
| 2019 | 24.8% | 4.3% | 38.8% | 29.34% |
NAV & Total Return History
SSEAX - Holdings
Concentration Analysis
| SSEAX | Category Low | Category High | SSEAX % Rank | |
|---|---|---|---|---|
| Net Assets | 136 M | 2.56 M | 425 B | 84.85% |
| Number of Holdings | 949 | 1 | 10801 | 7.98% |
| Net Assets in Top 10 | 18.7 M | 0 | 41 B | 88.77% |
| Weighting of Top 10 | 13.34% | 2.7% | 112.8% | 89.27% |
Top 10 Holdings
- SEI DAILY INCOME TRUST GOVERNMENT FUND (#36) 1.59%
- SCB X PCL-FOREIGN COMMON STOCK 1.52%
- ORIX CORP COMMON STOCK 1.40%
- ING GROEP NV COMMON STOCK 1.38%
- SAMSUNG ELECTR-GDR REG S DEPOSITARY RECEIPT 1.35%
- NOVO NORDISK A/S-B COMMON STOCK 1.29%
- HITACHI LTD COMMON STOCK 1.25%
- NN GROUP NV COMMON STOCK 1.19%
- RHEINMETALL AG COMMON STOCK 1.19%
- AMERICA MOVIL SAB DE C-SER B COMMON STOCK 1.18%
Asset Allocation
| Weighting | Return Low | Return High | SSEAX % Rank | |
|---|---|---|---|---|
| Stocks | 95.52% | 0.00% | 122.60% | 79.76% |
| Cash | 2.74% | -22.43% | 100.00% | 31.31% |
| Other | 1.45% | -2.97% | 43.01% | 12.70% |
| Preferred Stocks | 0.30% | -0.01% | 7.80% | 41.95% |
| Convertible Bonds | 0.00% | 0.00% | 4.18% | 41.78% |
| Bonds | 0.00% | -1.67% | 71.30% | 47.12% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SSEAX % Rank | |
|---|---|---|---|---|
| Financial Services | 18.62% | 0.00% | 47.75% | 38.43% |
| Industrials | 17.44% | 5.17% | 99.49% | 17.55% |
| Technology | 12.71% | 0.00% | 36.32% | 38.12% |
| Healthcare | 11.33% | 0.00% | 21.01% | 53.71% |
| Consumer Cyclical | 10.62% | 0.00% | 36.36% | 39.64% |
| Basic Materials | 9.17% | 0.00% | 23.86% | 26.93% |
| Consumer Defense | 7.03% | 0.00% | 32.29% | 86.69% |
| Energy | 5.38% | 0.00% | 16.89% | 39.49% |
| Communication Services | 4.87% | 0.00% | 21.69% | 78.21% |
| Utilities | 1.49% | 0.00% | 13.68% | 71.86% |
| Real Estate | 1.32% | 0.00% | 14.59% | 61.88% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SSEAX % Rank | |
|---|---|---|---|---|
| Non US | 83.40% | 0.00% | 121.07% | 74.89% |
| US | 12.12% | 0.00% | 103.55% | 23.78% |
SSEAX - Expenses
Operational Fees
| SSEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.77% | 0.01% | 18.22% | 71.15% |
| Management Fee | 0.65% | 0.00% | 1.65% | 49.56% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.05% | 0.01% | 1.00% | 17.12% |
Sales Fees
| SSEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| SSEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| SSEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 2.00% | 247.00% | 80.84% |
SSEAX - Distributions
Dividend Yield Analysis
| SSEAX | Category Low | Category High | SSEAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.69% | 0.00% | 25.36% | 32.94% |
Dividend Distribution Analysis
| SSEAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Annual | Annual |
Net Income Ratio Analysis
| SSEAX | Category Low | Category High | SSEAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.78% | -0.93% | 6.38% | 42.81% |
Capital Gain Distribution Analysis
| SSEAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 29, 2023 | $0.290 | OrdinaryDividend |
| Dec 30, 2022 | $0.285 | OrdinaryDividend |
| Dec 31, 2021 | $0.282 | OrdinaryDividend |
| Dec 31, 2020 | $0.217 | OrdinaryDividend |
| Dec 31, 2019 | $0.317 | OrdinaryDividend |
| Dec 31, 2018 | $0.215 | OrdinaryDividend |
| Dec 29, 2017 | $0.254 | OrdinaryDividend |
| Dec 29, 2016 | $0.153 | OrdinaryDividend |
| Dec 31, 2015 | $0.184 | OrdinaryDividend |
| Dec 31, 2014 | $0.157 | OrdinaryDividend |
| Dec 31, 2013 | $0.167 | OrdinaryDividend |
| Dec 31, 2012 | $0.155 | OrdinaryDividend |
| Dec 30, 2011 | $0.154 | OrdinaryDividend |
SSEAX - Fund Manager Analysis
Managers
M. Forrest Badgley
Start Date
Tenure
Tenure Rank
Jun 30, 2008
13.93
13.9%
Forrest Badgley joined McKinley Capital’s Quantitative Research Team in 2004 and worked on maintenance and enhancements to the firm’s investment models. In 2006, he was promoted to Portfolio Manager, participating in portfolio construction, qualitative review and security selection across a variety of strategies. In 2020, Forrest was promoted to Director of Public Investments, Portfolio Manager and works closely with CIO Rob Gillam to lead the Portfolio Management team in all aspects of model implementation across all firm strategies. Forrest has over 25 years of investment industry experience which includes work on the floor of the Chicago Board of Options Exchange, the Chicago Board of Trade, and proprietary currency and commodities futures trading desks. Prior to joining McKinley Capital, Forrest worked on the proprietary futures trading desk for Aspire Trading and as a Quantitative Risk Management Analyst for Bank One. Forrest lives in the Chicago area.
Robert Gillam
Start Date
Tenure
Tenure Rank
Jun 30, 2008
13.93
13.9%
Robert (Rob) A. Gillam serves as McKinley Management, LLC's Chief Executive Officer. In this role, Rob is responsible for developing the firm's strategic objectives, establishing the firm's mission and values, communicating with stakeholders including staff and clients, and maintaining the firm's fiscal health. He is supported by a robust executive management team and a governing Board of Directors. As CEO, Rob oversees all McKinley businesses including McKinley Capital Management, LLC, McKinley Alaska Private Investment, LLC, and McKinley Research Group, LLC.
Martino Boffa
Start Date
Tenure
Tenure Rank
Dec 31, 2010
11.42
11.4%
Martino Boffa joined McKinley Capital in 2009 as Director of Alternative Investments, Portfolio Manager. Martino has nearly 30 years of investment industry experience on both the buy and sell sides. As a member of McKinley’s Portfolio Management team, Martino works closely with CIO Rob Gillam on the design, construction, and implementation of investment strategies. In 2022, Martino was appointed Director of Sustainability/Portfolio Manager. In the new role at McKinley, Martino will provide education, lead implementation, and oversee the firm’s environmental, social and governance offerings (ESG). Boffa holds a CFA UK Level 4 Certificate in ESG and is personally passionate about the subject. Prior to joining McKinley, Martino was Senior Director of Arbitrage Strategies with Credit Suisse and managed a market neutral investment portfolio. Before this, he worked at Société Générale where he was Managing Director of Hedge Fund Sales specializing in European equities. Born and raised in Milan, Italy, Martino resides in Chicago.
Brendan Bradley
Start Date
Tenure
Tenure Rank
Dec 31, 2015
6.42
6.4%
Brendan joined Acadian in 2004 and is the firm’s Chief Investment Officer. Brendan previously served as Director of Portfolio Management, overseeing portfolio management policy, and also as the Director of Acadian’s Managed Volatility strategies. Brendan is a member of several oversight committees at Acadian, including the Board of Managers, Executive Management Team, Executive Committee, and Responsible Investing Committee. Prior to Acadian, Brendan was a vice president at Upstream Technologies, where he designed and implemented investment management systems and strategies.
Ryan Taliaferro
Start Date
Tenure
Tenure Rank
Dec 31, 2015
6.42
6.4%
Ryan joined Acadian in 2011 and currently serves as director of equity strategies.
Venkateshwar (Venk) Lal
Start Date
Tenure
Tenure Rank
Apr 23, 2020
2.1
2.1%
Venkateshwar (Venk) Lal is a co-portfolio manager and head of Focused Global Investment Risk and Strategy for the Focused Global Equity team at Allspring Global Investments. Venk also serves on Allspring’s Spectrum Investment Committee. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). He joined WFAM from EverKey Global Partners, where he served as a founding partner and head of risk and trading. Prior to joining EverKey, Venk served as an executive director in the Consolidated Equities Division at Morgan Stanley, advising hedge funds and other investment management firms on implementing and managing risk exposures in global equity markets. In addition, he previously advised and structured capital markets solutions for corporate clients seeking to issue or repurchase capital in the equity, convertible, and fixed income markets. Venk joined Morgan Stanley as a sales and trading associate specializing in equity arbitrage and derivatives and previously served as an investment banking financial analyst in the financial institutions group for Goldman Sachs & Co. Venk earned a bachelor’s degree from Princeton University’s School of Public and International Affairs, where he graduated summa cum laude, and a master’s degree in business administration from Harvard Business School. He has served as a term member of the Council on Foreign Relations.
Mark Little
Start Date
Tenure
Tenure Rank
Feb 02, 2021
1.32
1.3%
Mark Little Managing Director, Portfolio Manager/Analyst Lazard Asset Management Limited (London) Mark Little is a Portfolio Manager/Analyst on the International Strategic Equity, International Compounders, and Global Strategic Equity teams. He began working in the investment field in 1992. Prior to joining Lazard in 1997, he was a manager in the corporate finance practice of Coopers & Lybrand and earned his ACA qualification with Rees Pollock Chartered Accountants. Mark has an MA in Economics from Clare College, Cambridge University.
Louis Florentin-Lee
Start Date
Tenure
Tenure Rank
Feb 02, 2021
1.32
1.3%
Louis Florentin-Lee Managing Director, Portfolio Manager/Analyst Louis Florentin-Lee is a Managing Director and Portfolio Manager/Analyst on various global equity teams, International Compounders and US Equity Select. He was formerly the co-Portfolio Manager/Analyst for the Lazard European Explorer Fund between 2004 and 2010. Louis began working in the investment industry in 1996. Prior to joining Lazard in 2004, he was an equity research analyst at Soros Funds Limited and Schroder Investment Management. He has a BSc (Hons) in Economics from the London School of Economics.
Barnaby Wilson
Start Date
Tenure
Tenure Rank
Feb 02, 2021
1.32
1.3%
Barnaby Wilson, CFA Managing Director, Portfolio Manager/Analyst Lazard Asset Management Limited (London) Barnaby Wilson is a Managing Director and Portfolio Manager/Analyst on various global equity teams as well as International Compounders. He began working in the investment field in 1998. Prior to joining Lazard in 1999, he worked for Orbitex Investments as a Research Analyst. Barnaby has a BA (Hons) in Mathematics and Philosophy from Balliol College, Oxford University. Barnaby is a CFA® charterholder.
Robin Jones
Start Date
Tenure
Tenure Rank
Feb 02, 2021
1.32
1.3%
Robin O. Jones Managing Director, Portfolio Manager/Analyst Lazard Asset Management Limited (London) Robin Jones is a Portfolio Manager/Analyst on the International Strategic Equity, International Compounders, and Global Strategic Equity teams. Robin began working in the investment field in 2002 at Lazard Asset Management, before leaving in 2006 for Bluecrest Capital Management where he worked as a Portfolio Manager. Robin re-joined Lazard in 2007. He has a BA Hons in Economics from Durham University and a PGCE in Mathematics from Cambridge University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 30.35 | 6.3 | 3.25 |