0000912057-01-533315.txt : 20011009
0000912057-01-533315.hdr.sgml : 20011009
ACCESSION NUMBER: 0000912057-01-533315
CONFORMED SUBMISSION TYPE: 497
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20010925
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: SEI INSTITUTIONAL INTERNATIONAL TRUST
CENTRAL INDEX KEY: 0000835597
STANDARD INDUSTRIAL CLASSIFICATION: []
STATE OF INCORPORATION: MA
FISCAL YEAR END: 0228
FILING VALUES:
FORM TYPE: 497
SEC ACT: 1933 Act
SEC FILE NUMBER: 033-22821
FILM NUMBER: 1743881
BUSINESS ADDRESS:
STREET 1: C/O SEI INVESTMENTS CO
STREET 2: ONE FREEDOM VALLEY RD
CITY: OAKS
STATE: PA
ZIP: 19456
BUSINESS PHONE: 8003425734
MAIL ADDRESS:
STREET 1: SEI INTERNATIONAL TRUST
STREET 2: 530 E SWEDESFORD RD
CITY: WAYNE
STATE: PA
ZIP: 19087-1693
FORMER COMPANY:
FORMER CONFORMED NAME: SEI INTERNATIONAL TRUST
DATE OF NAME CHANGE: 19920703
FORMER COMPANY:
FORMER CONFORMED NAME: SEI WEALTH MANAGEMENT TRUST
DATE OF NAME CHANGE: 19900129
497
1
a2059522z497.txt
497
SEI INSTITUTIONAL INTERNATIONAL TRUST
International Equity Fund
Supplement Dated September 24, 2001 to the
Class I Shares Prospectus Dated January 31, 2001
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE PROSPECTUS, AND SHOULD BE READ IN CONJUNCTION WITH SUCH PROSPECTUS.
The Board of Trustees of SEI Institutional International Trust (the "Trust"),
including all of the Trustees who are not "interested persons" (as defined in
the Investment Company Act of 1940, as amended (the "1940 Act")) of the Trust,
have appointed Morgan Stanley Investment Management Inc. ("MSIM"), as an
additional Sub-Adviser to the Trust's International Equity Fund. MSIM was
approved as a Sub-Adviser at the Quarterly Meeting of the Board of Trustees held
on September 17, 2001 ("Quarterly Meeting"), and its appointment does not
require shareholder approval. This procedure for adding or replacing
Sub-Advisers was approved by the Trust's sole initial shareholder on June 16,
1995, and was authorized by an exemptive order issued to the Trust by the U.S.
Securities and Exchange Commission on April 29, 1996.
In evaluating MSIM, the Trustees received written and oral information from both
SEI Investments Management Corporation ("SIMC") and MSIM. SIMC recommended the
selection of MSIM and reviewed the considerations and the search process that
led to its recommendation. The Trustees also considered information about
portfolio managers, investment philosophy, strategies and process, as well as
other factors. In appointing MSIM, the Trustees carefully evaluated: (1) the
nature and quality of the services expected to be rendered to the International
Equity Fund by MSIM; (2) the distinct investment objective and policies of the
International Equity Fund; (3) the history, reputation, qualification and
background of MSIM's personnel and its financial condition; (4) its performance
record; and (5) other factors deemed relevant. The Trustees also reviewed the
fees to be paid to MSIM, including any benefits to be received by MSIM or its
affiliates in connection with soft dollar arrangements.
Under the Investment Sub-Advisory Agreement between SIMC and MSIM relating to
the International Equity Fund, MSIM makes investment decisions for the assets of
the International Equity Fund allocated to it by SIMC, and continuously reviews,
supervises and administers the International Equity Fund's investment program
with respect to these assets. MSIM is independent of SIMC and discharges its
responsibilities subject to the supervision of SIMC and the Trustees of the
Trust, and in a manner consistent with the International Equity Fund's
investment objectives, policies and limitations. The Sub-Advisory Agreement is
substantially similar to those in existence between SIMC and the Trust's other
Sub-Advisers. Specifically, the duties to be performed, standard of care and
termination provisions of the Agreement are similar to the other Agreements. The
Sub-Advisory Agreement will remain in effect until September, 2003 (unless
earlier terminated), and will have to be approved annually thereafter by a
majority of the Trustees, including a majority of the Trustees who are not
"interested persons" of the Trust (as defined in the 1940 Act).
In connection with the appointment of MSIM as Sub-Adviser to the International
Equity Fund, the "Sub-Advisers" Section on page 5 of the Prospectus is amended
by inserting the following paragraph relating to MSIM:
MORGAN STANLEY INVESTMENT MANAGEMENT INC.: Morgan Stanley Investment Management
Inc. (MSIM), located at 1221 Avenue of the Americas, New York, New York 10020,
serves as a Sub-Adviser to the International Equity Fund. Dominic Caldecott,
Peter Wright, and William Lock, each a Managing Director of MSIM, serve as
portfolio managers of a portion of the assets of the International Equity Fund.
Mr. Caldecott, who is also Chief Investment Officer of MSIM's London based
investment advisory affiliate, Morgan Stanley Investment Management Limited, has
been with MSIM for 15 years and has 20 years of investment experience.
Peter Wright and William Lock have been with the firm 5 and 7 years,
respectively, and each has over 10 years of investment management experience.
Morgan Stanley Dean Witter & Co. is the direct parent of MSIM.
Listed below are the names and principal occupations of the directors and
principal executive officers of MSIM. The address of MSIM and the principal
business address of such individuals, as it relates to their respective
positions at MSIM, is 1221 Avenue of the Americas, New York, New York 10020.
NAME TITLE
------------------------------------------------------------------------------------------------------
Barton M. Biggs Chairman, Director and Managing Director
------------------------------------------------------------------------------------------------------
Richard B. Morley President, Director and Managing Director
------------------------------------------------------------------------------------------------------
Mitchell M. Merin Director
------------------------------------------------------------------------------------------------------
SIMC will pay MSIM a fee based on a percentage of the average monthly market
value of the assets of the International Equity Fund assigned to MSIM.
------------------------------------
At the Quarterly Meeting, the Board of Trustees of the Trust, including all of
the Trustees who are not "interested persons" of the Trust, voted to terminate
Acadian Asset Management Inc. ("Acadian") as a Sub-Adviser to the International
Equity Fund. The Board determined to terminate Acadian based on a decision to
replace Acadian with a value oriented higher return potential manager. This
termination does not require shareholder approval.
------------------------------------
The prospectus is hereby amended to reflect these changes.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
SEI INSTITUTIONAL INTERNATIONAL TRUST
International Equity Fund
Supplement Dated September 24, 2001 to the
Class A Shares Prospectus Dated January 31, 2001
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE PROSPECTUS, AND SHOULD BE READ IN CONJUNCTION WITH SUCH PROSPECTUS.
The Board of Trustees of SEI Institutional International Trust (the "Trust"),
including all of the Trustees who are not "interested persons" (as defined in
the Investment Company Act of 1940, as amended (the "1940 Act")) of the Trust,
have appointed Morgan Stanley Investment Management Inc. ("MSIM"), as an
additional Sub-Adviser to the Trust's International Equity Fund. MSIM was
approved as a Sub-Adviser at the Quarterly Meeting of the Board of Trustees held
on September 17, 2001 ("Quarterly Meeting"), and its appointment does not
require shareholder approval. This procedure for adding or replacing
Sub-Advisers was approved by the Trust's sole initial shareholder on June 16,
1995, and was authorized by an exemptive order issued to the Trust by the U.S.
Securities and Exchange Commission on April 29, 1996.
In evaluating MSIM, the Trustees received written and oral information from both
SEI Investments Management Corporation ("SIMC") and MSIM. SIMC recommended the
selection of MSIM and reviewed the considerations and the search process that
led to its recommendation. The Trustees also considered information about
portfolio managers, investment philosophy, strategies and process, as well as
other factors. In appointing MSIM, the Trustees carefully evaluated: (1) the
nature and quality of the services expected to be rendered to the International
Equity Fund by MSIM; (2) the distinct investment objective and policies of the
International Equity Fund; (3) the history, reputation, qualification and
background of MSIM's personnel and its financial condition; (4) its performance
record; and (5) other factors deemed relevant. The Trustees also reviewed the
fees to be paid to MSIM, including any benefits to be received by MSIM or its
affiliates in connection with soft dollar arrangements.
Under the Investment Sub-Advisory Agreement between SIMC and MSIM relating to
the International Equity Fund, MSIM makes investment decisions for the assets of
the International Equity Fund allocated to it by SIMC, and continuously reviews,
supervises and administers the International Equity Fund's investment program
with respect to these assets. MSIM is independent of SIMC and discharges its
responsibilities subject to the supervision of SIMC and the Trustees of the
Trust, and in a manner consistent with the International Equity Fund's
investment objectives, policies and limitations. The Sub-Advisory Agreement is
substantially similar to those in existence between SIMC and the Trust's other
Sub-Advisers. Specifically, the duties to be performed, standard of care and
termination provisions of the Agreement are similar to the other Agreements. The
Sub-Advisory Agreement will remain in effect until September, 2003 (unless
earlier terminated), and will have to be approved annually thereafter by a
majority of the Trustees, including a majority of the Trustees who are not
"interested persons" of the Trust (as defined in the 1940 Act).
In connection with the appointment of MSIM as Sub-Adviser to the International
Equity Fund, the "Sub-Advisers" Section on page 11 of the Prospectus is amended
by inserting the following paragraph relating to MSIM:
MORGAN STANLEY INVESTMENT MANAGEMENT INC.: Morgan Stanley Investment Management
Inc. (MSIM), located at 1221 Avenue of the Americas, New York, New York 10020,
serves as a Sub-Adviser to the International Equity Fund. Dominic Caldecott,
Peter Wright, and William Lock, each a Managing Director of MSIM, serve as
portfolio managers of a portion of the assets of the International Equity Fund.
Mr. Caldecott, who is also Chief Investment Officer of MSIM's London based
investment advisory affiliate, Morgan Stanley Investment Management Limited, has
been with MSIM for 15 years and has 20 years of investment experience.
Peter Wright and William Lock have been with the firm 5 and 7 years,
respectively, and each has over 10 years of investment management experience.
Morgan Stanley Dean Witter & Co. is the direct parent of MSIM.
Listed below are the names and principal occupations of the directors and
principal executive officers of MSIM. The address of MSIM and the principal
business address of such individuals, as it relates to their respective
positions at MSIM, is 1221 Avenue of the Americas, New York, New York 10020.
NAME TITLE
------------------------------------------------------------------------------------------------------
Barton M. Biggs Chairman, Director and Managing Director
------------------------------------------------------------------------------------------------------
Richard B. Morley President, Director and Managing Director
------------------------------------------------------------------------------------------------------
Mitchell M. Merin Director
------------------------------------------------------------------------------------------------------
SIMC will pay MSIM a fee based on a percentage of the average monthly market
value of the assets of the International Equity Fund assigned to MSIM.
------------------------------------
At the Quarterly Meeting, the Board of Trustees of the Trust, including all of
the Trustees who are not "interested persons" of the Trust, voted to terminate
Acadian Asset Management Inc. ("Acadian") as a Sub-Adviser to the International
Equity Fund. The Board determined to terminate Acadian based on a decision to
replace Acadian with a value oriented higher return potential manager. This
termination does not require shareholder approval.
------------------------------------
The prospectus is hereby amended to reflect these changes.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE