Six SEI Asset Allocation Trust funds change strategies, management

By Toni Weeks

San Diego, March 28 - SEI Asset Allocation Trust announced principal investment strategy and portfolio management changes for six of its funds, according to a 497 filing with the Securities and Exchange Commission.

The changes apply to the Defensive Strategy Fund, the Conservative Strategy Fund, the Moderate Strategy Fund, the Aggressive Strategy Fund, the Core Market Strategy Fund and the Market Growth Strategy Fund.

Each fund has expanded its existing strategy to allow investments in underlying SEI funds that invest in a broad range of asset classes, including commodities, to achieve its investment goal.

In addition, each fund will now add "multi-asset investments" to the list of asset classes it may invest in. The SEI funds under that category are the SIMT Multi-Asset Accumulation Fund, SIMT Multi-Asset Income Fund, the SIMT Multi-Asset Inflation Managed Fund and the SIMT Multi-Asset Capital Stability Fund. Each fund may invest 0% to 60% of its assets in the multi-asset investments category.

The filing also stated that SEI Investments Management Corp., the funds' investment adviser, may directly manage a portion of each fund's portfolio by engaging in currency transactions using futures and foreign currency forward contracts to seek to hedge the fund's currency exposure. 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.

Annual fund operating expenses will increase for three of the funds. Annual expenses have increased to 1.4% from 1.38% for the Aggressive Strategy Fund, to 1.27% from 1.24% for the Core Market Strategy Fund and to 1.33% from 1.31% for the Market Growth Strategy Fund. The increase is due to an increased in acquired fund fees and expenses.

Furthermore, each fund has added James Smigiel, Ryan Schneck and Casey Anderson to the portfolio management team. John J. McCue is no longer a portfolio manager to the funds.

SEI Investments Management is based in Oaks, Pa.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.