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Trending ETFs

SIMT Multi-Strategy Alternative Fund

mutual fund
SMSAX
Payout Change
Pending
Price as of:
$9.55 -0.04 -0.42%
primary theme
N/A
share class
SMSAX (Mutual Fund)

SIMT Multi-Strategy Alternative Fund

Payout Change
Pending
Price as of:
$9.55 -0.04 -0.42%
primary theme
N/A
share class
SMSAX (Mutual Fund)

SIMT Multi-Strategy Alternative Fund

Payout Change
Pending
Price as of:
$9.55 -0.04 -0.42%
primary theme
N/A
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

$9.55

$291 M

4.25%

$0.41

2.63%

Vitals

YTD Return

1.8%

1 yr return

7.5%

3 Yr Avg Return

0.7%

5 Yr Avg Return

3.7%

Net Assets

$291 M

Holdings in Top 10

39.2%

52 WEEK LOW AND HIGH

$9.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.63%

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

$9.55

$291 M

4.25%

$0.41

2.63%

SMSAX - Profile

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return 0.7%
  • 5 Yr Annualized Total Return 3.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.87%
DIVIDENDS
  • Dividend Yield 4.3%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    SIMT Multi-Strategy Alternative Fund
  • Fund Family Name
    SEI Funds
  • Inception Date
    Mar 31, 2010
  • Shares Outstanding
    44529102
  • Share Class
    F
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Hynes

Fund Description

The Multi-Strategy Alternative Fund employs a strategy intended to generate an absolute (i.e., positive) return in various market cycles with reduced correlation to the stock and bond markets. The Fund allocates its assets among a variety of investment strategies through the use of: (i) affiliated and unaffiliated funds, including open-end funds, closed-end funds and exchange traded funds (Underlying Funds); and/or (ii) one or more investment sub-advisers (each, a Sub-Adviser and collectively, the Sub-Advisers). In addition, SEI Investments Management Corporation, the Fund's adviser (SIMC or the Adviser), may directly manage a portion of the Fund's portfolio. The Underlying Funds or Sub-Advisers that are employed may apply any of a variety of investment strategies, which may include: (i) directional or tactical strategies, such as long/short equity, long/short credit and global tactical asset allocation; (ii) event driven strategies, such as distressed securities, special situations and merger arbitrage; and (iii) arbitrage strategies, such as fixed income or interest rate arbitrage, convertible arbitrage, pairs trading and equity market neutral.

The Fund will allocate its assets among Underlying Funds and/or Sub-Advisers based on SIMC's analysis of their investment strategies and historical performance as well as SIMC's analysis of the potential for each to perform independently of one another. By allocating its assets in this manner, the Fund will seek to reduce risk, lower volatility and achieve positive returns in various market cycles. Allocation of assets to any one Underlying Fund, Sub-Adviser or strategy will vary based on market conditions. By investing in an Underlying Fund, the Fund becomes a shareholder of that Underlying Fund. Underlying Funds and Sub-Advisers may invest in a broad range of asset classes, securities and other investments to achieve their designated investment strategies, which may include U.S., foreign and emerging markets securities, equity securities of all types and capitalization ranges, investment and non-investment grade fixed income securities (junk bonds) of any duration or maturity issued by corporations or governments, commodities, currencies, warrants, depositary receipts, exchange traded notes and derivative instruments, principally, equity options, futures contracts, options on futures contracts, forward contracts, swap agreements and credit default swaps. In addition, the Fund may invest in cash, money market instruments and other short-term obligations to achieve its investment goal. Due to its investment strategy, the Fund may buy and sell securities and other instruments frequently.

The Fund currently allocates assets to Sub-Advisers pursuant to SIMC's "manager of managers" model, and the Sub-Advisers manage a portion of the Fund's portfolio under the general supervision of SIMC. In addition, SIMC may directly manage a portion of the Fund's assets, which may include allocating assets to investments in Underlying Funds selected by SIMC.

The Fund is intended to be only one component of an investor's broader investment program and is not designed to be a complete investment program. Investors who seek to add an alternative component to their overall investment program may wish to allocate a portion of their investment to the Fund.

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SMSAX - Performance

Return Ranking - Trailing

Period SMSAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -73.0% 19.4% 53.76%
1 Yr 7.5% -9.1% 86.9% 20.00%
3 Yr 0.7%* -9.5% 16.2% 28.92%
5 Yr 3.7%* -4.9% 14.4% 25.11%
10 Yr 2.3%* -0.9% 7.5% 56.38%

* Annualized

Return Ranking - Calendar

Period SMSAX Return Category Return Low Category Return High Rank in Category (%)
2023 2.7% -22.7% 305.1% 7.04%
2022 -6.9% -9.8% 27.3% 60.48%
2021 -5.8% -20.8% 10.9% 73.33%
2020 9.0% -12.4% 29.4% 64.85%
2019 3.8% -10.5% 15.8% 19.90%

Total Return Ranking - Trailing

Period SMSAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -73.0% 19.4% 53.76%
1 Yr 7.5% -13.4% 86.9% 18.18%
3 Yr 0.7%* -9.5% 16.2% 26.91%
5 Yr 3.7%* -5.3% 14.4% 22.87%
10 Yr 2.3%* -0.9% 7.5% 51.06%

* Annualized

Total Return Ranking - Calendar

Period SMSAX Return Category Return Low Category Return High Rank in Category (%)
2023 7.2% -22.7% 305.1% 7.41%
2022 -4.9% -9.8% 27.3% 62.10%
2021 1.5% -20.8% 10.9% 77.33%
2020 12.1% -8.4% 29.4% 77.23%
2019 4.9% -10.2% 18.0% 25.65%

NAV & Total Return History


SMSAX - Holdings

Concentration Analysis

SMSAX Category Low Category High SMSAX % Rank
Net Assets 291 M 1.5 M 5.01 B 27.31%
Number of Holdings 471 4 4478 16.96%
Net Assets in Top 10 114 M -398 M 2.55 B 27.21%
Weighting of Top 10 39.17% 13.1% 100.0% 61.93%

Top 10 Holdings

  1. MERGER FUND-I MUTUAL FUND 20.49%
  2. SEI DAILY INCOME TRUST GOVERNMENT FUND (#36) 6.59%
  3. SEI DAILY INCOME TRUST GOVERNMENT FUND (#36) 3.10%
  4. SEI DAILY INCOME TRUST GOVERNMENT FUND (#36) 1.84%
  5. LAS VEGAS SANDS CORP 3.200000% 08/08/2024 1.37%
  6. SEI DAILY INCOME TRUST GOVERNMENT FUND (#36) 1.31%
  7. TKO GROUP HOLDINGS INC COMMON STOCK 1.28%
  8. TRANSOCEAN LTD COMMON STOCK 1.11%
  9. RH COMMON STOCK 1.07%
  10. TREASURY BILL 0.000000% 06/06/2024 1.02%

Asset Allocation

Weighting Return Low Return High SMSAX % Rank
Stocks
37.86% -3.75% 97.95% 44.52%
Bonds
33.70% -326.45% 6347.80% 54.06%
Cash
28.40% -6278.21% 410.43% 20.49%
Convertible Bonds
0.33% 0.00% 87.92% 36.40%
Preferred Stocks
0.17% -0.12% 46.97% 16.96%
Other
-0.13% -21.53% 148.54% 97.88%

Stock Sector Breakdown

Weighting Return Low Return High SMSAX % Rank
Technology
29.96% 0.00% 39.58% 2.36%
Communication Services
14.43% 0.00% 21.78% 53.54%
Financial Services
13.36% 0.00% 59.28% 13.39%
Basic Materials
10.69% 0.00% 27.46% 56.30%
Industrials
10.14% 0.00% 21.45% 73.62%
Consumer Cyclical
5.69% 0.00% 29.09% 55.91%
Energy
5.38% 0.00% 100.00% 72.44%
Real Estate
4.37% 0.00% 51.26% 13.78%
Healthcare
3.29% 0.00% 45.63% 94.49%
Consumer Defense
1.44% 0.00% 13.62% 92.91%
Utilities
1.26% 0.00% 9.23% 74.02%

Stock Geographic Breakdown

Weighting Return Low Return High SMSAX % Rank
US
36.31% -8.85% 91.88% 38.52%
Non US
1.55% -19.62% 42.11% 57.60%

Bond Sector Breakdown

Weighting Return Low Return High SMSAX % Rank
Corporate
25.46% 0.00% 87.73% 24.73%
Cash & Equivalents
13.10% 0.27% 100.00% 19.79%
Government
9.50% 0.00% 84.29% 66.43%
Securitized
0.53% 0.00% 56.83% 44.52%
Municipal
0.38% 0.00% 27.33% 7.42%
Derivative
-0.13% 0.00% 88.81% 50.18%

Bond Geographic Breakdown

Weighting Return Low Return High SMSAX % Rank
US
33.42% -126.19% 6311.18% 64.66%
Non US
0.28% -382.37% 121.02% 35.69%

SMSAX - Expenses

Operational Fees

SMSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.63% 0.29% 31.15% 27.70%
Management Fee 1.50% 0.00% 2.50% 82.69%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.30% 0.01% 0.30% 98.63%

Sales Fees

SMSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SMSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 100.00%

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.

SMSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 491.00% 90.87%

SMSAX - Distributions

Dividend Yield Analysis

SMSAX Category Low Category High SMSAX % Rank
Dividend Yield 4.25% 0.00% 4.56% 8.83%

Dividend Distribution Analysis

SMSAX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annually

Net Income Ratio Analysis

SMSAX Category Low Category High SMSAX % Rank
Net Income Ratio 0.87% -2.51% 6.83% 41.01%

Capital Gain Distribution Analysis

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

Distributions History

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SMSAX - Fund Manager Analysis

Managers

John Hynes


Start Date

Tenure

Tenure Rank

Nov 06, 2015

6.57

6.6%

John Hynes is a portfolio manager focusing on liquid alternative strategies. Before joining Emso in 2011, Mr. Hynes spent 17 years at Fidelity Investments and Fidelity International, most recently within the Emerging Markets Equity Group, working as a Portfolio Manager for the Fidelity Series Emerging Markets Fund. At Fidelity, he also held at various times the positions of Global EM Analyst, European HY Credit Analyst, European Equity Analyst; Co-head of International Fixed Income, and Senior Global Bond Trader. Previously, he worked as a Global Bond Trader at Watermark Management, and began his career as a Research Associate at Temple, Barker & Sloane. Mr. Hynes earned an MBA in Finance from The Wharton School, University of Pennsylvania, and a B.A. in Economics from Dartmouth College.

Mark Franklin


Start Date

Tenure

Tenure Rank

Nov 06, 2015

6.57

6.6%

Mark Franklin is the Chief Investment Officer of Emso. Mark began his career in international banking in 1979 and lived and worked throughout Latin America holding various positions in Argentina, Colombia and Mexico. He joined Salomon Brothers in 1986 to establish and co-run their emerging markets customer business. Following his appointment to the position of partner in 1991, he joined Salomon's proprietary trading division where he started and successfully ran the emerging markets investment business until the merger with Citigroup. After the merger he founded the Emso Fund, established Emso Partners Limited (then as a subsidiary of Citibank), and ultimately executed its employee buyout in 2013. Mark holds a BA from Brown University in Economics. He is a Trustee of Tusk, a pan-African charitable trust.

Mark Lee


Start Date

Tenure

Tenure Rank

Dec 17, 2015

6.46

6.5%

Mark Lee is the Founder and Managing Member of Mountaineer, an opportunistic value and event hedge fund founded in 2011 that invests long and short in equity and debt. Prior to founding Mountaineer, Mr. Lee worked at Contrarian Capital Management, LLC ("Contrarian") from 1999 to 2011. He joined Contrarian as a distressed debt analyst, and then in 2003 founded and was the sole Portfolio Manager for the Contrarian Long Short Fund for eight years until he departed to launch Mountaineer in January 2011. In late 2008, Mr. Lee also assumed management of the Contrarian Distressed Equity Fund, which he managed until his departure in January 2011. Both Contrarian Long Short and Contrarian Distressed Equity utilized a similar analytical framework to Mountaineer. Prior to Contrarian, Mr. Lee worked as an Associate at Blavin & Co., a concentrated, long-biased value fund, and as an Associate at Centre Partners, a Lazard-affiliated private equity firm. Mr. Lee began his career in finance in 1992 as an investment banker at Credit Suisse First Boston. Mr. Lee received an MBA from Harvard Business School and an AB, Magna Cum Laude, from Harvard College.

Ethan Johnson


Start Date

Tenure

Tenure Rank

Dec 17, 2015

6.46

6.5%

Mr. Johnson is the Portfolio Manager who manages the portion of the Multi-Strategy Alternative Fund allocated to Ramius, and serves as a Managing Director of Ramius Advisors, LLC. Mr. Johnson joined Ramius in 2007 as a Research Analyst on the Ramius risk arbitrage desk. Prior to joining Ramius, Mr. Johnson was an Associate specializing in mergers & acquisitions at Legacy Partners Group, a middle market advisory firm. Prior to that, Mr. Johnson worked at Lehman Brothers as an Equity Research Analyst focused on technology companies. Mr. Johnson received a B.A. in Economics (Honors & Distinction) from the University of Michigan and an MBA from The Wharton School at the University of Pennsylvania.

Radoslav Koitchev


Start Date

Tenure

Tenure Rank

Jan 31, 2016

6.33

6.3%

Mr. Koitchev has served as a Portfolio Manager for the Multi-Strategy Alternative Fund within the Investment Management Team for SIMC since April 2014. Mr. Koitchev joined SEI in June of 2009.

Andrew Kurita


Start Date

Tenure

Tenure Rank

May 03, 2016

6.08

6.1%

Andrew Kurita is the Founder of Kettle Hill and has served as a Portfolio Manager since Kettle Hill's inception in 2003. Prior to this role, Mr. Kurita was a Vice President at Andor Capital Management, LLC, where he covered the industrial sector for the Diversified Growth Fund . From 1996 to 2001, Mr. Kurita worked at Cramer Rosenthal McGlynn, LLC, where he was a Vice President and Analyst on hedge fund and small cap value products. Mr. Kurita is a CFA charterholder with more than 23 years of small cap and hedge fund investing experience. Mr. Kurita graduated cum laude with honors with a B.A. in Economics from Williams College in 1995.

Donald Morgan


Start Date

Tenure

Tenure Rank

Jan 31, 2017

5.33

5.3%

Mr. Donald Morgan is a Co-Founder and serves as Chief Investment Officer, Portfolio Manager and Managing Partner at Brigade Capital Management.

Douglas Pardon


Start Date

Tenure

Tenure Rank

Dec 31, 2017

4.42

4.4%

Douglas C. Pardon joined Brigade in 2007and became involved with the investment decision made with respect to the High Yield Bond Fund in 2017.. Prior to joining Brigade Capital Management, LP. Mr. Pardon was a Vice President/Senior Analyst in the High Yield Group at Lehman Asset Management. Mr. Pardon also served as an Analyst in the Mergers and Acquisitions Group at Merrill Lynch & Co.

Neil Desai


Start Date

Tenure

Tenure Rank

Dec 16, 2019

2.46

2.5%

Mr. Desai is a Portfolio Manager of Putnam's technology and TMT long/short equity strategies. He joined Putnam in 2012 and has been in the investment industry since 1997. Previously at Putnam, Mr. Desai was a Portfolio Manager, Analyst on the Equity Research team, conducting fundamental analysis and valuation of global internet and IT services companies. Prior to joining Putnam, he was a Partner at Crosslink Capital from 2009 to 2012; an Analyst at Tudor Investment Corp/Raptor Capital Management from 2005 to 2009; a Senior Associate at Thoma Cressey Equity Partners, now Thoma Bravo, from 1999 to 2003; and an Analyst in the Global TMT Group, Merrill Lynch Investment Banking, from 1997 to 1999. Mr. Desai earned an M.B.A. from Harvard Business School and a B.A. in Economics from Duke University.

Steven Hornstein


Start Date

Tenure

Tenure Rank

Jul 06, 2020

1.9

1.9%

Steven Hornstein is the Chief Investment Officer, Managing Member, and co-founder of the Manager. Mr. Hornstein is primarily responsible for portfolio management, trading, and idea generation at the Manager. From 2006 - 2008, Mr. Hornstein served as a partner at Sailfish Capital Partners, LLC (“Sailfish”) where he launched and managed the Leveraged Finance strategy. From 2004 - 2006, Mr. Hornstein was employed at Pinewood Capital Partners, LLC (“Pinewood”), a long/short credit hedge fund manager where he served as Partner/Head Trader/Portfolio Manager. From 2001 - 2004, Mr. Hornstein was a partner and Head of Credit Trading at Imperial Capital LLC (“Imperial Capital”), an investment banking firm specializing in High Yield and Distressed Debt. Before that, Mr. Hornstein was employed by Donaldson, Lufkin, and Jenrette Inc. (“DLJ”) for 18 years including seven as a Principal and Managing Director. While at DLJ, at various times he managed the Institutional Corporate Bond Trading group, and headed DLJ’s High Yield trading desk. Mr. Hornstein is a graduate of C.W. Post Center of Long Island University, where he received a BA in Political Science. He is a member of the Board of Trustees of Long Island University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67