As filed with the Securities and Exchange Commission on February 17, 2012
File No. 033-22821
File No. 811-05601
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 55
and
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 56
SEI INSTITUTIONAL INTERNATIONAL TRUST
(Formerly, "SEI International Trust")
(Exact Name of Registrant as Specified in Charter)
SEI Investments Company
One Freedom Valley Drive
Oaks, Pennsylvania 19456
(Address of Principal Executive Offices)
(610) 676-1000
Timothy D. Barto
SEI Investments Company
One Freedom Valley Drive
Oaks, Pennsylvania 19456
(Name and Address of Agent for Service)
Copy to:
Timothy W. Levin, Esquire
Morgan, Lewis & Bockius LLP
1701 Market Street
Philadelphia, PA 19103
Title of Securities Being Registered. . .Units of Beneficial Interest
It is proposed that this filing become effective (check appropriate box)
x immediately upon filing pursuant to paragraph (b)
o on [date] pursuant to paragraph (b)
o 60 days after filing pursuant to paragraph (a)(1)
o on [date] pursuant to paragraph (a)(1)
o 75 days after filing pursuant to paragraph (a)(2)
o on [date] pursuant to paragraph (a)(2) of Rule 485.
If appropriate, check the following box:
o This post-effective Amendment designates a new effective date for a previously filed Post-Effective Amendment.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933, as amended, and has duly caused this Post-Effective Amendment No. 55 to Registration Statement No. 033-22821 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Oaks, Commonwealth of Pennsylvania on the 17th day of February, 2012.
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SEI INSTITUTIONAL INTERNATIONAL TRUST | |
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/s/ Robert A. Nesher |
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Robert A. Nesher | |
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Trustee, President & Chief Executive Officer |
Pursuant to the requirements of the Securities Act of 1933, as amended, this Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the date(s) indicated.
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February 17, 2012 | |
Rosemarie B. Greco |
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February 17, 2012 | |
William M. Doran |
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February 17, 2012 | |
George J. Sullivan, Jr. |
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February 17, 2012 | |
Nina Lesavoy |
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February 17, 2012 | |
James M. Williams |
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February 17, 2012 | |
Mitchell A. Johnson |
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February 17, 2012 | |
Hubert L. Harris, Jr. |
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/s/ Robert A. Nesher |
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Trustee, President & Chief |
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February 17, 2012 | |
Robert A. Nesher |
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Executive Officer |
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/s/ Peter A. Rodriguez |
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Controller & Chief |
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February 17, 2012 | |
Peter A. Rodriguez |
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Financial Officer |
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*By: |
/s/ Robert A. Nesher |
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Robert A. Nesher |
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Attorney-in-Fact |
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Label | Element | Value | ||
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||
ProspectusDate | rr_ProspectusDate | Jan. 31, 2012 | ||
SIT EMERGING MARKETS DEBT FUND (Second Prospectus Summary) | SIT EMERGING MARKETS DEBT FUND
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||
Risk/Return, Heading | rr_RiskReturnHeading | EMERGING MARKETS DEBT FUND | ||
Investment Objective, Heading | rr_ObjectiveHeading | Investment Goal | ||
investment Objective, Primary | rr_ObjectivePrimaryTextBlock | Maximize total return. |
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Expense, Heading | rr_ExpenseHeading | Fees and Expenses | ||
Expense, Narrative | rr_ExpenseNarrativeTextBlock | The following tables describe the fees and expenses that you may pay if you buy and hold Fund shares. |
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Shareholder Fees, Caption | rr_ShareholderFeesCaption | SHAREHOLDER FEES (fees paid directly from your investment) | ||
Operating Expenses, Caption | rr_OperatingExpensesCaption | ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | PORTFOLIO TURNOVER | ||
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 59% of the average value of its portfolio. |
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Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 59.00% | ||
Expense Example, Heading | rr_ExpenseExampleHeading | EXAMPLE | ||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. |
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Expense Example, By Year, Caption | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies | ||
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | Under normal circumstances, the Emerging Markets Debt Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed income securities of emerging market issuers. The Fund will invest in debt securities of government, government-related and corporate issuers in emerging market countries, as well as entities organized to restructure the outstanding debt of such issuers. The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers with differing investment philosophies to manage portions of the Fund's portfolio under the general supervision of SIMC. The Sub-Advisers will spread the Fund's holdings across a number of countries and industries to limit its exposure to a single emerging market economy and may not invest more than 25% of its assets in any single country. There are no restrictions on the Fund's average portfolio maturity or on the maturity of any specific security. There is no minimum rating standard for the Fund's securities, and the Fund's securities will generally be in the lower or lowest rating categories (including those below the fourth highest rating category by a Nationally Recognized Statistical Rating Organization, commonly referred to as junk bonds). The Sub-Advisers may seek to enhance the Fund's return by actively managing the Fund's foreign currency exposure. In managing the Fund's currency exposure, the Sub-Advisers buy and sell currencies (i.e., take long or short positions) using futures and foreign currency forward contracts. 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. The Fund may also engage in currency transactions in an attempt to take advantage of certain inefficiencies in the currency exchange market, to increase its exposure to a foreign currency or to shift exposure to foreign currency fluctuations from one currency to another. In managing the Fund's currency exposure for foreign securities, the Sub-Advisers may buy and sell currencies for hedging or for speculative purposes. The Fund may purchase shares of ETFs to gain exposure to a particular portion of the market while awaiting an opportunity to purchase securities directly. |
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Risk, Heading | rr_RiskHeading | Principal Risks | ||
Risk, Narrative | rr_RiskNarrativeTextBlock | Below Investment Grade Securities Risk -- Fixed income securities rated below investment grade (junk bonds) involve greater risks of default or downgrade and are more volatile than investment grade securities because the prospect for repayment of principal and interest of many of these securities is speculative. Corporate Fixed Income Securities Risk -- Corporate fixed income securities respond to economic developments, especially changes in interest rates, as well as perceptions of the creditworthiness and business prospects of individual issuers. Credit Risk -- The risk that the issuer of a security or the counterparty to a contract will default or otherwise become unable to honor a financial obligation. Currency Risk -- As a result of the Fund's investments in securities or other investments denominated in, and/or receiving revenues in, foreign currencies and the Fund's active management of its currency exposures, the Fund will be subject to currency risk. Currency risk is the risk that foreign currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency hedged. In either event, the dollar value of an investment in the Fund would be adversely affected. Due to the Fund's active positions in currencies, it will be subject to the risk that currency exchange rates may fluctuate in response to, among other things, changes in interest rates, intervention (or failure to intervene) by U.S. or foreign governments, central banks or supranational entities, or by the imposition of currency controls or other political developments in the United States or abroad. Derivatives Risk -- The Fund's use of futures and forward contracts is subject to market risk, leverage risk, correlation risk and liquidity risk. Leverage risk and liquidity risk are described below. Market risk is the risk that the market value of an investment may move up and down, sometimes rapidly and unpredictably. Correlation risk is the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. The Fund's use of over-the-counter forward contracts is also subject to credit risk and valuation risk. Valuation risk is the risk that the derivative may be difficult to value and/or valued incorrectly. Credit risk is described above. Each of the above risks could cause the Fund to lose more than the principal amount invested in a derivative instrument. Exchange-Traded Funds (ETFs) Risk -- The risks of owning shares of an ETF generally reflect the risks of owning the underlying securities the ETF is designed to track, although lack of liquidity in an ETF could result in its value being more volatile than the underlying portfolio securities. Extension Risk -- The risk that rising interest rates may extend the duration of a fixed income security, typically reducing the security's value. Fixed Income Market Risk -- The prices of the Fund's fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments and their agencies. In the case of foreign securities, price fluctuations will reflect international economic and political events, as well as changes in currency valuations relative to the U.S. dollar. Foreign Investment/Emerging Markets Risk -- The risk that non-U.S. securities may be subject to additional risks due to, among other things, political, social and economic developments abroad, currency movements and different legal, regulatory and tax environments. These additional risks may be heightened with respect to emerging market countries since political turmoil and rapid changes in economic conditions are more likely to occur in these countries. Foreign Sovereign Debt Securities Risk -- The risks that (i) the governmental entity that controls the repayment of sovereign debt may not be willing or able to repay the principal and/or interest when it becomes due, due to factors such as debt service burden, political constraints, cash flow problems and other national economic factors; (ii) governments may default on their debt securities, which may require holders of such securities to participate in debt rescheduling or additional lending to defaulting governments; and (iii) there is no bankruptcy proceeding by which defaulted sovereign debt may be collected in whole or in part. Interest Rate Risk -- The risk that the Fund's yield will decline due to falling interest rates. A rise in interest rates typically causes a fall in the value of fixed income securities in which the Fund invests, while a fall in interest rates typically causes a rise in the value of such securities. Investment Style Risk -- The risk that emerging market debt securities may underperform other segments of the fixed income markets or the fixed income markets as a whole. Leverage Risk -- The use of leverage can amplify the effects of market volatility on the Fund's share price and may also cause the Fund to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations. Liquidity Risk -- The risk that certain securities may be difficult or impossible to sell at the time and the price that the Fund would like. The Fund may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on Fund management or performance. Non-Diversified Risk -- The Fund is non-diversified, which means that it may invest in the securities of relatively few issuers. As a result, the Fund may be more susceptible to a single adverse economic or political occurrence affecting one or more of these issuers, and may experience increased volatility due to its investments in those securities. Portfolio Turnover Risk -- Due to its investment strategy, the Fund may buy and sell securities frequently. This may result in higher transaction costs and additional capital gains tax liabilities. Prepayment Risk -- The risk that with declining interest rates, fixed income securities with stated interest rates may have the principal paid earlier than expected, requiring the Fund to invest the proceeds at generally lower interest rates. Loss of money is a risk of investing in the Fund. |
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Risk, Lose Money | rr_RiskLoseMoney | Loss of money is a risk of investing in the Fund. | ||
Risk, Nondiversified Status | rr_RiskNondiversifiedStatus | The Fund is non-diversified, which means that it may invest in the securities of relatively few issuers. As a result, the Fund may be more susceptible to a single adverse economic or political occurrence affecting one or more of these issuers, and may experience increased volatility due to its investments in those securities. | ||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance Information | ||
Performance, Narrative | rr_PerformanceNarrativeTextBlock | As of January 31, 2012, Class G Shares of the Fund had not commenced operations and did not have a performance history. The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past ten calendar years and by showing how the Fund's average annual returns for 1, 5 and 10 years, and since the Fund's inception, compared with those of a broad measure of market performance. Since Class G Shares are invested in the same portfolio of securities, returns for Class G Shares will be substantially similar to those of Class A Shares, shown here, and will differ only to the extent that Class G Shares have higher expenses. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. |
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Performance, Information Illustrates Variability of Returns | rr_PerformanceInformationIllustratesVariabilityOfReturns | The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past ten calendar years and by showing how the Fund's average annual returns for 1, 5 and 10 years, and since the Fund's inception, compared with those of a broad measure of market performance. | ||
Performance, Past Does Not Indicate Future | rr_PerformancePastDoesNotIndicateFuture | The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. | ||
Bar Chart, Closing | rr_BarChartClosingTextBlock | Best Quarter: 17.55% (12/31/2002) Worst Quarter: -13.19% (12/31/2008) |
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Performance Table, Heading | rr_PerformanceTableHeading | Average Annual Total Returns (for the periods ended December 31, 2011) | ||
Index No Deduction for Fees, Expenses, Taxes | rr_IndexNoDeductionForFeesExpensesTaxes | reflects no deduction for fees, expenses, or taxes | ||
Performance Table, Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. | ||
Performance Table, Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. | ||
Performance Table, Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. |
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SIT EMERGING MARKETS DEBT FUND (Second Prospectus Summary) | SIT EMERGING MARKETS DEBT FUND | J.P. Morgan EMBI Global Diversified Index Return
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||
Average Annual Returns, Label | rr_AverageAnnualReturnLabel | J.P. Morgan EMBI Global Diversified Index Return (reflects no deduction for fees, expenses, or taxes) | ||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 7.35% | ||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 7.87% | ||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 10.62% | ||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 9.59% | ||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Jun. 26, 1997 | [1] | |
SIT EMERGING MARKETS DEBT FUND (Second Prospectus Summary) | SIT EMERGING MARKETS DEBT FUND | CLASS G
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||
Redemption Fee (applies to a redemption, or series of redemptions, from a single identifiable source that, in the aggregate, exceeds $25 million within any thirty (30) day period) | rr_RedemptionFeeOverRedemption | (1.00%) | ||
Management Fees | rr_ManagementFeesOverAssets | 0.85% | ||
Distribution (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||
Other Expenses | rr_OtherExpensesOverAssets | 0.95% | ||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.05% | ||
Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | 208 | ||
Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 643 | ||
Expense Example, With Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,103 | ||
Expense Example, With Redemption, 10 Years | rr_ExpenseExampleYear10 | 2,379 | ||
Annual Return 2002 | rr_AnnualReturn2002 | 10.61% | ||
Annual Return 2003 | rr_AnnualReturn2003 | 34.65% | ||
Annual Return 2004 | rr_AnnualReturn2004 | 14.49% | ||
Annual Return 2005 | rr_AnnualReturn2005 | 14.06% | ||
Annual Return 2006 | rr_AnnualReturn2006 | 12.43% | ||
Annual Return 2007 | rr_AnnualReturn2007 | 6.42% | ||
Annual Return 2008 | rr_AnnualReturn2008 | (19.72%) | ||
Annual Return 2009 | rr_AnnualReturn2009 | 40.53% | ||
Annual Return 2010 | rr_AnnualReturn2010 | 14.47% | ||
Annual Return 2011 | rr_AnnualReturn2011 | 4.74% | ||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter: | ||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Dec. 31, 2002 | ||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 17.55% | ||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter: | ||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | ||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (13.19%) | ||
Average Annual Returns, Label | rr_AverageAnnualReturnLabel | Class A Shares Return Before Taxes | ||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 4.74% | ||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 7.56% | ||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 12.15% | ||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 10.40% | ||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Jun. 26, 1997 | ||
SIT EMERGING MARKETS DEBT FUND (Second Prospectus Summary) | SIT EMERGING MARKETS DEBT FUND | CLASS G | After Taxes on Distributions
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||
Average Annual Returns, Label | rr_AverageAnnualReturnLabel | Class A Shares Return After Taxes on Distributions | ||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 2.52% | ||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 4.96% | ||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 8.98% | ||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 7.03% | ||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Jun. 26, 1997 | ||
SIT EMERGING MARKETS DEBT FUND (Second Prospectus Summary) | SIT EMERGING MARKETS DEBT FUND | CLASS G | After Taxes on Distributions and Sales
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||
Average Annual Returns, Label | rr_AverageAnnualReturnLabel | Class A Shares Return After Taxes on Distributions and Sale of Fund Shares | ||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 3.10% | ||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 4.90% | ||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 8.76% | ||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 6.93% | ||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Jun. 26, 1997 | ||
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Label | Element | Value | ||||
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
ProspectusDate | rr_ProspectusDate | Jan. 31, 2012 | ||||
SIT EMERGING MARKETS EQUITY FUND (Second Prospectus Summary) | SIT EMERGING MARKETS EQUITY FUND
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Risk/Return, Heading | rr_RiskReturnHeading | EMERGING MARKETS EQUITY FUND | ||||
Investment Objective, Heading | rr_ObjectiveHeading | Investment Goal | ||||
investment Objective, Primary | rr_ObjectivePrimaryTextBlock | Capital appreciation. |
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Expense, Heading | rr_ExpenseHeading | Fees and Expenses | ||||
Expense, Narrative | rr_ExpenseNarrativeTextBlock | The following tables describe the fees and expenses that you may pay if you buy and hold Fund shares. |
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Shareholder Fees, Caption | rr_ShareholderFeesCaption | SHAREHOLDER FEES (fees paid directly from your investment) | ||||
Operating Expenses, Caption | rr_OperatingExpensesCaption | ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | PORTFOLIO TURNOVER | ||||
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 98% of the average value of its portfolio. |
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Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 98.00% | ||||
Expenses, Not Correlated to Ratio Due to Acquired Fund Fees | rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees | Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in underlying funds. | ||||
Expense Example, Heading | rr_ExpenseExampleHeading | EXAMPLE | ||||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. |
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Expense Example, By Year, Caption | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies | ||||
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | Under normal circumstances, the Emerging Markets Equity Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of emerging market issuers. Equity securities may include common stocks, preferred stock and warrants. The Fund normally maintains investments in at least six emerging market countries and does not invest more than 35% of its total assets in any one emerging market country. The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers with differing investment philosophies to manage portions of the Fund's portfolio under the general supervision of SIMC. The Fund may purchase shares of ETFs to gain exposure to a particular portion of the market while awaiting an opportunity to purchase securities directly. |
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Risk, Heading | rr_RiskHeading | Principal Risks | ||||
Risk, Narrative | rr_RiskNarrativeTextBlock | Currency Risk -- As a result of the Fund's investments in securities denominated in, and/or receiving revenues in, foreign currencies, the Fund will be subject to currency risk. Currency risk is the risk that those currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency hedged. In either event, the dollar value of an investment in the Fund would be adversely affected. Equity Market Risk -- The risk that stock prices will fall over short or extended periods of time. Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF generally reflect the risks of owning the underlying securities the ETF is designed to track, although lack of liquidity in an ETF could result in its value being more volatile than the underlying portfolio securities. Foreign Investment/Emerging Markets Risk -- The risk that non-U.S. securities may be subject to additional risks due to, among other things, political, social and economic developments abroad, currency movements and different legal, regulatory and tax environments. These additional risks may be heightened with respect to emerging market countries since political turmoil and rapid changes in economic conditions are more likely to occur in these countries. Investment Style Risk -- The risk that emerging market equity securities may underperform other segments of the equity markets or the equity markets as a whole. Portfolio Turnover Risk -- Due to its investment strategy, the Fund may buy and sell securities frequently. This may result in higher transaction costs and additional capital gains tax liabilities. Small and Medium Capitalization Risk -- The small and medium capitalization companies in which the Fund invests may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, small and medium capitalization companies may have limited product lines, markets and financial resources and may depend upon a relatively small management group. Therefore, small and medium capitalization stocks may be more volatile than those of larger companies. Small and medium capitalization stocks may betraded over the counter or listed on an exchange. Loss of money is a risk of investing in the Fund. |
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Risk, Lose Money | rr_RiskLoseMoney | Loss of money is a risk of investing in the Fund. | ||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance Information | ||||
Performance, Narrative | rr_PerformanceNarrativeTextBlock | As of January 31, 2012, Class G Shares of the Fund had not commenced operations and did not have a performance history. The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past ten calendar years and by showing how the Fund's average annual returns for 1, 5 and 10 years, and since the Fund's inception, compared with those of a broad measure of market performance. Since Class G Shares are invested in the same portfolio of securities, returns for Class G Shares will be substantially similar to those of Class A Shares, shown here, and will differ only to the extent that Class G Shares have higher expenses. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. |
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Performance, Information Illustrates Variability of Returns | rr_PerformanceInformationIllustratesVariabilityOfReturns | The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past ten calendar years and by showing how the Fund's average annual returns for 1, 5 and 10 years, and since the Fund's inception, compared with those of a broad measure of market performance. | ||||
Performance, Past Does Not Indicate Future | rr_PerformancePastDoesNotIndicateFuture | The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. | ||||
Bar Chart, Closing | rr_BarChartClosingTextBlock | Best Quarter: 34.40% (06/30/2009) Worst Quarter: -27.79% (12/31/2008) |
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Performance Table, Heading | rr_PerformanceTableHeading | Average Annual Total Returns (for the periods ended December 31, 2011) | ||||
Index No Deduction for Fees, Expenses, Taxes | rr_IndexNoDeductionForFeesExpensesTaxes | reflects no deduction for fees, expenses or taxes | ||||
Performance Table, Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. | ||||
Performance Table, Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. | ||||
Performance Table, Narrative | rr_PerformanceTableNarrativeTextBlock | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. |
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SIT EMERGING MARKETS EQUITY FUND (Second Prospectus Summary) | SIT EMERGING MARKETS EQUITY FUND | MSCI Emerging Markets Index Return
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Average Annual Returns, Label | rr_AverageAnnualReturnLabel | MSCI Emerging Markets Index Return (reflects no deduction for fees, expenses or taxes) | ||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (18.17%) | ||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 2.70% | ||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 14.20% | ||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 7.03% | ||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Jan. 17, 1995 | [1] | |||
SIT EMERGING MARKETS EQUITY FUND (Second Prospectus Summary) | SIT EMERGING MARKETS EQUITY FUND | CLASS G
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Redemption Fee (applies to a redemption, or series of redemptions, from a single identifiable source that, in the aggregate, exceeds $25 million within any thirty (30) day period) | rr_RedemptionFeeOverRedemption | (1.25%) | ||||
Management Fees | rr_ManagementFeesOverAssets | 1.05% | ||||
Distribution (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 1.04% | ||||
Acquired Fund Fees and Expenses (AFFE) | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.35% | [2] | |||
Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | 238 | ||||
Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 733 | ||||
Expense Example, With Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,255 | ||||
Expense Example, With Redemption, 10 Years | rr_ExpenseExampleYear10 | 2,686 | ||||
Annual Return 2002 | rr_AnnualReturn2002 | (7.99%) | ||||
Annual Return 2003 | rr_AnnualReturn2003 | 49.05% | ||||
Annual Return 2004 | rr_AnnualReturn2004 | 25.17% | ||||
Annual Return 2005 | rr_AnnualReturn2005 | 30.68% | ||||
Annual Return 2006 | rr_AnnualReturn2006 | 27.03% | ||||
Annual Return 2007 | rr_AnnualReturn2007 | 30.04% | ||||
Annual Return 2008 | rr_AnnualReturn2008 | (52.68%) | ||||
Annual Return 2009 | rr_AnnualReturn2009 | 75.07% | ||||
Annual Return 2010 | rr_AnnualReturn2010 | 17.70% | ||||
Annual Return 2011 | rr_AnnualReturn2011 | (23.32%) | ||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter: | ||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | ||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 34.40% | ||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter: | ||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | ||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (27.79%) | ||||
Average Annual Returns, Label | rr_AverageAnnualReturnLabel | Class A Shares Return Before Taxes | ||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (23.32%) | ||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | (0.56%) | ||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 10.73% | ||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 4.61% | ||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Jan. 17, 1995 | ||||
SIT EMERGING MARKETS EQUITY FUND (Second Prospectus Summary) | SIT EMERGING MARKETS EQUITY FUND | CLASS G | After Taxes on Distributions
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Average Annual Returns, Label | rr_AverageAnnualReturnLabel | Class A Shares Return After Taxes on Distributions | ||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (23.16%) | ||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | (2.00%) | ||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 9.57% | ||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 3.96% | ||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Jan. 17, 1995 | ||||
SIT EMERGING MARKETS EQUITY FUND (Second Prospectus Summary) | SIT EMERGING MARKETS EQUITY FUND | CLASS G | After Taxes on Distributions and Sales
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Average Annual Returns, Label | rr_AverageAnnualReturnLabel | Class A Shares Return After Taxes on Distributions and Sale of Fund Shares | ||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (14.93%) | ||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | (0.53%) | ||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 9.60% | ||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 4.09% | ||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Jan. 17, 1995 | ||||
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SIT INTERNATIONAL EQUITY FUND (Third Prospectus Summary) | SIT INTERNATIONAL EQUITY FUND | ||||||||||||||||||||||||||||||||||||||||||
INTERNATIONAL EQUITY FUND | ||||||||||||||||||||||||||||||||||||||||||
Investment Goal | ||||||||||||||||||||||||||||||||||||||||||
Long-term capital appreciation. |
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Fees and Expenses | ||||||||||||||||||||||||||||||||||||||||||
The following tables describe the fees and expenses that you may pay if you buy and hold Fund shares. |
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SHAREHOLDER FEES (fees paid directly from your investment) | ||||||||||||||||||||||||||||||||||||||||||
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ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||||||||||||||||||||||
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EXAMPLE | ||||||||||||||||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. |
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Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||||||||||||||||||||||
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PORTFOLIO TURNOVER | ||||||||||||||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 98% of the average value of its portfolio. |
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Principal Investment Strategies | ||||||||||||||||||||||||||||||||||||||||||
Under normal circumstances, the International Equity Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities. Equity securities may include common stocks, preferred stock and warrants. The Fund will invest primarily in equity securities of issuers of all capitalization ranges that are located in at least three countries other than the U.S. It is expected that at least 40% of the Fund's assets will be invested outside the U.S. The Fund will invest primarily in companies located in developed countries, but may also invest in companies located in emerging markets. Generally, the Fund will invest less than 20% of its assets in emerging markets. The Fund uses a multi-manager approach, relying upon a number of sub-advisers (each, a Sub-Adviser and collectively, the Sub-Advisers) with differing investment philosophies to manage portions of the Fund's portfolio under the general supervision of SEI Investments Management Corporation, the Fund's adviser (SIMC). The Fund may invest in futures contracts and forward contracts for hedging purposes, including to seek to manage the Fund's currency exposure to foreign securities and mitigate the Fund's overall risk. 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 directly. |
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Principal Risks | ||||||||||||||||||||||||||||||||||||||||||
Credit Risk -- The risk that the issuer of a security or the counterparty to a contract will default or otherwise become unable to honor a financial obligation. Currency Risk -- As a result of the Fund's investments in securities denominated in, and/or receiving revenues in, foreign currencies, the Fund will be subject to currency risk. Currency risk is the risk that those currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency hedged. In either event, the dollar value of an investment in the Fund would be adversely affected. Derivatives Risk -- The Fund's use of futures and forward contracts is subject to market risk, leverage risk, correlation risk and liquidity risk. Leverage risk and liquidity risk are described below. Market risk is the risk that the market value of an investment may move up and down, sometimes rapidly and unpredictably. Correlation risk is the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. The Fund's use of over-the-counter forward contracts is also subject to credit risk and valuation risk. Valuation risk is the risk that the derivative may be difficult to value and/or valued incorrectly. Credit risk is described above. Each of the above risks could cause the Fund to lose more than the principal amount invested in a derivative instrument. Equity Market Risk -- The risk that stock prices will fall over short or extended periods of time. Exchange-Traded Funds (ETFs) Risk -- The risks of owning shares of an ETF generally reflect the risks of owning the underlying securities the ETF is designed to track, although lack of liquidity in an ETF could result in its value being more volatile than the underlying portfolio securities. Foreign Investment/Emerging Markets Risk -- The risk that non-U.S. securities may be subject to additional risks due to, among other things, political, social and economic developments abroad, currency movements and different legal, regulatory and tax environments. These additional risks may be heightened with respect to emerging market countries since political turmoil and rapid changes in economic conditions are more likely to occur in these countries. Investment Style Risk -- The risk that developed international equity securities may underperform other segments of the equity markets or the equity markets as a whole. Leverage Risk -- The use of leverage can amplify the effects of market volatility on the Fund's share price and may also cause the Fund to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations. Liquidity Risk -- The risk that certain securities may be difficult or impossible to sell at the time and the price that the Fund would like. The Fund may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on Fund management or performance. Portfolio Turnover Risk -- Due to its investment strategy, the Fund may buy and sell securities frequently. This may result in higher transaction costs and additional capital gains tax liabilities. Small and Medium Capitalization Risk -- The small and medium capitalization companies in which the Fund invests may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, small and medium capitalization companies may have limited product lines, markets and financial resources and may depend upon a relatively small management group. Therefore, small and medium capitalization stocks may be more volatile than those of larger companies. Small and medium capitalization stocks may be traded over-the-counter or listed on an exchange. Loss of money is a risk of investing in the Fund. |
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Performance Information | ||||||||||||||||||||||||||||||||||||||||||
As of April 5, 2011, Class G Shares of the Fund had not commenced operations and did not have a performance history. The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past ten calendar years and by showing how the Fund's average annual returns for 1, 5 and 10 years, and since the Fund's inception, compared with those of a broad measure of market performance. Since Class G Shares are invested in the same portfolio of securities, returns for Class G Shares will be substantially similar to those of Class A Shares, shown here, and will differ only to the extent that Class G Shares have higher expenses. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. |
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Best Quarter: 22.98% (06/30/2009) Worst Quarter: -26.13% (09/30/2008) |
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Average Annual Total Returns (for the periods ended December 31, 2011) | ||||||||||||||||||||||||||||||||||||||||||
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. |
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SIT EMERGING MARKETS EQUITY FUND (First Prospectus Summary) | SIT EMERGING MARKETS EQUITY FUND | ||||||||||||||||||||||||||||||||||||||||||
EMERGING MARKETS EQUITY FUND | ||||||||||||||||||||||||||||||||||||||||||
Investment Goal | ||||||||||||||||||||||||||||||||||||||||||
Capital appreciation. |
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Fees and Expenses | ||||||||||||||||||||||||||||||||||||||||||
The following tables describe the fees and expenses that you may pay if you buy and hold Fund shares. |
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SHAREHOLDER FEES (fees paid directly from your investment) | ||||||||||||||||||||||||||||||||||||||||||
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ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||||||||||||||||||||||
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EXAMPLE | ||||||||||||||||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. |
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Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||||||||||||||||||||||
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PORTFOLIO TURNOVER | ||||||||||||||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 98% of the average value of its portfolio. |
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Principal Investment Strategies | ||||||||||||||||||||||||||||||||||||||||||
Under normal circumstances, the Emerging Markets Equity Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of emerging market issuers. Equity securities may include common stocks, preferred stock and warrants. The Fund normally maintains investments in at least six emerging market countries and does not invest more than 35% of its total assets in any one emerging market country. The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers with differing investment philosophies to manage portions of the Fund's portfolio under the general supervision of SIMC. The Fund may purchase shares of ETFs to gain exposure to a particular portion of the market while awaiting an opportunity to purchase securities directly. |
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Principal Risks | ||||||||||||||||||||||||||||||||||||||||||
Currency Risk -- As a result of the Fund's investments in securities denominated in, and/or receiving revenues in, foreign currencies, the Fund will be subject to currency risk. Currency risk is the risk that those currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency hedged. In either event, the dollar value of an investment in the Fund would be adversely affected. Equity Market Risk -- The risk that stock prices will fall over short or extended periods of time. Exchange-Traded Funds (ETFs) Risk -- The risks of owning shares of an ETF generally reflect the risks of owning the underlying securities the ETF is designed to track, although lack of liquidity in an ETF could result in its value being more volatile than the underlying portfolio securities. Foreign Investment/Emerging Markets Risk -- The risk that non-U.S. securities may be subject to additional risks due to, among other things, political, social and economic developments abroad, currency movements and different legal, regulatory and tax environments. These additional risks may be heightened with respect to emerging market countries since political turmoil and rapid changes in economic conditions are more likely to occur in these countries. Investment Style Risk -- The risk that emerging market equity securities may underperform other segments of the equity markets or the equity markets as a whole. Portfolio Turnover Risk -- Due to its investment strategy, the Fund may buy and sell securities frequently. This may result in higher transaction costs and additional capital gains tax liabilities. Small and Medium Capitalization Risk -- The small and medium capitalization companies in which the Fund invests may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, small and medium capitalization companies may have limited product lines, markets and financial resources and may depend upon a relatively small management group. Therefore, small and medium capitalization stocks may be more volatile than those of larger companies. Small and medium capitalization stocks may be traded over the counter or listed on an exchange. Loss of money is a risk of investing in the Fund. |
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Performance Information | ||||||||||||||||||||||||||||||||||||||||||
The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past ten calendar years and by showing how the Fund's average annual returns for 1, 5 and 10 years, and since the Fund's inception, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. For current performance information, please call 1-800-DIAL-SEI. |
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Best Quarter: 34.40% (06/30/09) Worst Quarter: -27.79% (12/31/08) |
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Average Annual Total Returns (for the periods ended December 31, 2011) | ||||||||||||||||||||||||||||||||||||||||||
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. |
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