SIT N-SAR

SUB-ITEM 77E(a)
A lawsuit entitled Steven Curd and Rebel Curd v. SEI
Investments Management Corporation was initially
filed against SIMC in the U.S. District Court for
the Eastern District of Pennsylvania (the Court) on
December 11, 2013. On August 28, 2014, the Court
granted SIMCs motion to dismiss the initial
complaint in the lawsuit, but also granted
plaintiffs leave to amend the complaint. On October
2, 2014, plaintiffs filed an amended complaint. In
the amended complaint, SEI
Investments Global Funds Services (SGFS) was added
as a defendant. The plaintiffs bring the case as a
shareholder derivative action against SIMC and SGFS
on behalf of certain SEI funds. The claims were
based on Section 36(b) of the Investment Company Act
of 1940, as amended, which allows shareholders of a
mutual fund to sue the investment adviser of the
fund or its affiliates for an alleged breach of
fiduciary duty with respect to compensation received
by the adviser or its affiliates. The plaintiffs
bring the suit against SIMC and SGFS with respect to
five specific SEI Funds: the International Equity
Fund, which is a series of the SEI Institutional
International Trust, the High Yield Bond, Tax-
Managed Large Cap, and Tax-Managed Small/Mid Cap
Funds, each of which is a series of the SEI
Institutional Managed Trust, and the Intermediate
Term Municipal Fund, which is a series of the SEI
Tax Exempt Trust. The plaintiffs seek: (1) damages
for the
funds in the amount of the alleged excessive fees
earned by SIMC and SGFS beginning from the one year
period prior to the filing of the lawsuit, plus
interest, costs, and fees; (2) orders declaring that
SIMC and SGFS allegedly violated Section 36(b) and
enjoining SIMC and SGFS from further alleged
violations; and (3) rescission of SIMCs and SGFSs
contracts with the funds, and restitution of all
allegedly excessive fees paid beginning from the one
year period prior to the filing of the lawsuit, plus
interest, costs, and fees. SIMC continues to dispute
the claims, and intends to continue to vigorously
defend the matter.