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SIMT Tax-Managed International Managed Volatility Fund

mutual fund
SMINX
Payout Change
Pending
Price as of:
$10.95 -0.08 -0.73%
primary theme
International Large-Cap Value Equity
share class
SMINX (Mutual Fund)

SIMT Tax-Managed International Managed Volatility Fund

Payout Change
Pending
Price as of:
$10.95 -0.08 -0.73%
primary theme
International Large-Cap Value Equity
share class
SMINX (Mutual Fund)

SIMT Tax-Managed International Managed Volatility Fund

Payout Change
Pending
Price as of:
$10.95 -0.08 -0.73%
primary theme
International Large-Cap Value Equity
share class

Name

As of 06/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.95

$311 M

3.23%

$0.35

1.36%

Vitals

YTD Return

3.8%

1 yr return

8.2%

3 Yr Avg Return

0.8%

5 Yr Avg Return

3.3%

Net Assets

$311 M

Holdings in Top 10

16.0%

52 WEEK LOW AND HIGH

$11.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.36%

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 06/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.95

$311 M

3.23%

$0.35

1.36%

SMINX - Profile

Distributions

  • YTD Total Return 3.8%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 3.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.44%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    SIMT Tax-Managed International Managed Volatility Fund
  • Fund Family Name
    SEI Funds
  • Inception Date
    Oct 17, 2016
  • Shares Outstanding
    30173178
  • Share Class
    F
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mark Birmingham

Fund Description

Under normal circumstances, the Fund will invest at least 80% of its net assets in non-U.S. equity securities. These securities may include common stocks and real estate investment trusts (REITs) of all capitalization

ranges. Under normal circumstances, the Fund will invest in securities of issuers that are located in at least three countries outside of the U.S., but will typically invest much more broadly. The Fund will invest primarily in companies located in developed countries.

The Fund seeks to construct, in a tax-sensitive manner, a portfolio of equity securities with lower volatility than the broad international developed equity markets (International Market). Each Sub-Adviser (as defined below) and SEI Investments Management Corporation, the Fund's adviser (SIMC or the Adviser), seeks to achieve lower volatility by constructing a portfolio of securities that primarily exhibit a more stable historical or predicted price and earnings behavior (i.e. absolute risk), but also take into consideration low correlation attributes and expected returns. Generally, the Fund is likely to underperform in a steeply rising International Market, but seeks to mitigate losses in a falling International Market.

The Fund expects that over the long-term, a lower volatility portfolio will provide returns similar to those of the International Market. Over shorter periods of time, however, due to its focus on absolute risk, the portfolio's country, sector and market capitalization exposures will typically vary from the International Market and it may experience significant performance deviations from the International Market.

The Fund uses a "multi-manager" approach to investing. This means that SIMC selects and oversees a number of third-party investment advisers (each, a Sub-Adviser and collectively, the Sub-Advisers) to manage portions of the Fund's portfolio. Sub-Advisers typically have differing investment philosophies and strategies that they use in managing the portion of the Fund's assets allocated to them by SIMC. Assets of the Fund not allocated to Sub-Advisers are managed directly by SIMC.

The Fund implements the investment recommendations of the Sub-Advisers through the use of an overlay manager appointed by SIMC. Each Sub-Adviser and SIMC provides a model portfolio to the overlay manager on an ongoing basis that represents that Sub-Adviser's or SIMC's recommendation as to the securities to be purchased, sold or retained by the Fund. The overlay manager then constructs a portfolio for the Fund that represents the aggregation of the model portfolios of the Sub-Advisers, with the weighting of each Sub-Adviser's model in the total portfolio determined by SIMC. Pursuant to direction from SIMC, the overlay manager has limited authority to vary from the models, primarily for the purpose of tax management of the Fund's securities transactions. The overlay manager seeks to manage the impact of taxes by, among other things, selling stocks with the highest tax cost first, opportunistically harvesting losses and deferring recognition of taxable gains, where possible.

The Fund considers the security of an issuer to be "non-U.S." if the issuer is domiciled, incorporated, located and/or principally traded in a country other than the U.S. Developed market countries are those countries that are included in a developed markets index by a recognized index provider, or have similar developed characteristics, in each case determined at the time of purchase.

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.

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SMINX - Performance

Return Ranking - Trailing

Period SMINX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -4.3% 12.5% 49.84%
1 Yr 8.2% -5.3% 21.1% 59.11%
3 Yr 0.8%* -5.5% 70.6% 79.54%
5 Yr 3.3%* 0.1% 45.4% 97.86%
10 Yr N/A* -1.1% 20.8% N/A

* Annualized

Return Ranking - Calendar

Period SMINX Return Category Return Low Category Return High Rank in Category (%)
2023 9.2% 1.0% 26.9% 82.13%
2022 -14.1% -27.8% 166.1% 60.38%
2021 4.3% -66.6% 64.4% 80.52%
2020 -3.2% -23.1% 17.3% 72.45%
2019 12.3% 4.4% 31.6% 76.22%

Total Return Ranking - Trailing

Period SMINX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -4.3% 12.5% 49.84%
1 Yr 8.2% -5.3% 21.1% 59.11%
3 Yr 0.8%* -5.5% 70.6% 79.54%
5 Yr 3.3%* 0.1% 45.4% 97.86%
10 Yr N/A* -1.1% 20.8% N/A

* Annualized

Total Return Ranking - Calendar

Period SMINX Return Category Return Low Category Return High Rank in Category (%)
2023 12.9% 5.4% 31.0% 89.34%
2022 -11.6% -19.9% 344.3% 69.97%
2021 7.6% -0.2% 75.3% 90.26%
2020 -1.6% -20.4% 18.9% 80.61%
2019 15.5% 11.2% 32.1% 80.42%

NAV & Total Return History


SMINX - Holdings

Concentration Analysis

SMINX Category Low Category High SMINX % Rank
Net Assets 311 M 2.04 M 46.7 B 66.25%
Number of Holdings 412 2 2650 10.94%
Net Assets in Top 10 48.8 M 410 K 14.6 B 74.69%
Weighting of Top 10 15.99% 6.0% 100.0% 88.09%

Top 10 Holdings

  1. SEI LIQUIDITY FUND 3.53%
  2. SEI DAILY INCOME TRUST GOVERNMENT FUND (#36) 1.62%
  3. NOVARTIS AG-REG COMMON STOCK 1.59%
  4. KONINKLIJKE AHOLD DELHAIZE N COMMON STOCK 1.56%
  5. BAE SYSTEMS PLC COMMON STOCK 1.49%
  6. ORANGE COMMON STOCK 1.36%
  7. SANOFI COMMON STOCK 1.36%
  8. GSK PLC COMMON STOCK 1.33%
  9. DEUTSCHE TELEKOM AG-REG COMMON STOCK 1.11%
  10. NOVO NORDISK A/S-B COMMON STOCK 1.05%

Asset Allocation

Weighting Return Low Return High SMINX % Rank
Stocks
98.78% 2.55% 104.96% 18.75%
Cash
1.62% 0.00% 17.09% 57.19%
Other
1.16% -0.11% 38.54% 18.44%
Preferred Stocks
0.80% 0.00% 5.97% 26.56%
Convertible Bonds
0.00% 0.00% 0.15% 65.00%
Bonds
0.00% 0.00% 76.40% 67.50%

Stock Sector Breakdown

Weighting Return Low Return High SMINX % Rank
Consumer Defense
20.38% 0.00% 31.84% 3.79%
Financial Services
14.51% 0.00% 42.76% 88.64%
Healthcare
13.27% 0.00% 23.28% 26.81%
Communication Services
12.53% 0.00% 22.75% 5.99%
Industrials
10.19% 1.03% 36.79% 79.50%
Consumer Cyclical
8.80% 0.00% 27.46% 55.84%
Utilities
7.30% 0.00% 27.46% 13.56%
Basic Materials
4.36% 0.00% 30.76% 87.38%
Technology
3.75% 0.00% 24.16% 78.55%
Energy
2.52% 0.00% 26.59% 86.12%
Real Estate
2.38% 0.00% 17.06% 32.18%

Stock Geographic Breakdown

Weighting Return Low Return High SMINX % Rank
Non US
93.46% 0.00% 99.20% 33.13%
US
5.33% 0.00% 99.97% 45.31%

SMINX - Expenses

Operational Fees

SMINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.36% 0.01% 7.03% 25.63%
Management Fee 0.65% 0.00% 1.25% 39.18%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.45% 0.03% 0.47% 97.73%

Sales Fees

SMINX 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

SMINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 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.

SMINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 158.16% 56.12%

SMINX - Distributions

Dividend Yield Analysis

SMINX Category Low Category High SMINX % Rank
Dividend Yield 3.23% 0.00% 13.19% 49.84%

Dividend Distribution Analysis

SMINX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Quarterly

Net Income Ratio Analysis

SMINX Category Low Category High SMINX % Rank
Net Income Ratio 2.44% 0.18% 7.85% 48.71%

Capital Gain Distribution Analysis

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

Distributions History

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SMINX - Fund Manager Analysis

Managers

Mark Birmingham


Start Date

Tenure

Tenure Rank

Oct 17, 2016

5.62

5.6%

Mark Birmingham joined Acadian in 2013 and is the Lead Portfolio Manager for Acadian's Managed Volatility strategies. Before joining Acadian, he was a vice president and quantitative analyst within the quantitative investment group at Wellington Management Co. Mark also served as director, U.S. equity sales and trading at Nomura Securities International, Inc. He earned an A.B. in computer science from Princeton University. Mark is a CFA charterholder and a member of CFA Society Boston.

Paul Bouchey


Start Date

Tenure

Tenure Rank

Oct 17, 2016

5.62

5.6%

Paul leads Parametric’s research and development activities across all strategies. He has authored numerous academic and practitioner articles in publications such as the Journal of Portfolio Management, the Journal of Wealth Management, and the Journal of Index Investing. Paul earned a BA in mathematics and physics from Whitman College and an MS in computational finance and risk management from the University of Washington. A CFA charterholder, he is a member of the CFA Society of Seattle.

Puneet Mansharamani


Start Date

Tenure

Tenure Rank

Oct 17, 2016

5.62

5.6%

Puneet Mansharamani, CFA, is a Partner, Portfolio Manager and Quantitative Analyst of LSV. Mr. Mansharamani has more than 14 years of investment experience. At LSV, Mr. Mansharamani is part of our quantitative and implementation team, which is responsible for the day-to-day data management, portfolio implementation and ongoing enhancement of our models and systems. Prior to joining LSV, Mr. Mansharamani was an Analyst at Institutional Trust National City Corporation. His responsibilities included project management, systems development and designing financial and analytical applications fo

David Krider


Start Date

Tenure

Tenure Rank

Oct 17, 2016

5.62

5.6%

David Krider is a portfolio manager for the Systematic Edge team at Allspring Global Investments. He is responsible for the ongoing research and development of global equity-based investment strategies as well as the day-to-day trading of global portfolios. David joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Prior to WFAM, David was founder and chief technology officer of Visualize, Inc., a firm that specializes in financial visualization and analytic software. He was a research associate at First Quadrant before leaving to start his own firm. David earned a bachelor’s degree in economics and computer science from the California Institute of Technology. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation.

Harindra de Silva


Start Date

Tenure

Tenure Rank

Oct 17, 2016

5.62

5.6%

Harindra (Harin) de Silva is a portfolio manager for the Systematic Edge team at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before WFAM, Harin was a principal at Analysis Group, Inc., where he was responsible for providing economic research services to institutional investors, including investment managers, large pension funds, and endowments. He focuses on the ongoing research effort for equity and factor-based asset allocation strategies. Harin earned a bachelor’s degree in mechanical engineering from the University of Manchester Institute of Science and Technology, a master’s degree in business administration with an emphasis in finance, a master’s degree in econometrics from the University of Rochester, and a Ph.D. in finance from the University of California, Irvine. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation.

Ryan Taliaferro


Start Date

Tenure

Tenure Rank

Oct 17, 2016

5.62

5.6%

Ryan joined Acadian in 2011 and currently serves as director of equity strategies.

Greg Sleight


Start Date

Tenure

Tenure Rank

Oct 17, 2016

5.62

5.6%

Greg Sleight is a Partner, Portfolio Manager and Quantitative Analyst of LSV. At LSV, Mr. Sleight is part of our quantitative and implementation team, which is responsible for the day-to-day data management, portfolio implementation and ongoing enhancement of our models and systems. Mr. Sleight received a B.S. in Material Science & Engineering from the University of Illinois in 2000 and an M.B.A. in Econometrics, Economics & Analytic Finance from the University of Chicago in 2006.

Guy Lakonishok


Start Date

Tenure

Tenure Rank

Oct 17, 2016

5.62

5.6%

Guy Lakonishok, CFA is a Partner, Portfolio Manager and Quantitative Analyst at LSV. Prior to joining LSV, Mr. Lakonishok was a Vice President in the Quantitative Equity group at BlackRock. His responsibilities included research, portfolio implementation, system development and performance attribution. Prior to this experience, Mr. Lakonishok was an analyst in the Quantitative Equity group at Weiss, Peck, and Greer, where he was responsible for developing portfolio analytics and assisting in the day-to-day management of the portfolios. Mr. Lakonishok received a B.S. in Applied Science with

Brendan Bradley


Start Date

Tenure

Tenure Rank

Dec 31, 2016

5.42

5.4%

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.

Dante D'Orazio


Start Date

Tenure

Tenure Rank

Jan 31, 2022

0.33

0.3%

Dante D’Orazio, CFA, is a Partner and Portfolio Manager who developed the firm’s price driven model currently utilized in both the U.S. and Japanese markets. Mr. D’Orazio makes major contributions to the overall portfolio risk and asset allocation among all models. He has extensive experience in modeling equities, bonds, and options that dates back to 1986. Mr. D’Orazio joined Double Alpha in July 1997. From 1995 to 1997, Mr. D’Orazio specialized in Corporate Bonds and credit curve analysis at Salomon Brothers’ Fixed Income Strategy Group. In 1986, Mr. D’Orazio was responsible for the development of equity derivative models, trading strategies, and risk management at New Windsor Associates. Mr. D’Orazio received a BS in Computer Science with concentration in Finance from Brooklyn College. In 1995 he received the CFA charter.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.2 29.68 7.59 0.54