<SEC-DOCUMENT>0001104659-13-006004.txt : 20130130
<SEC-HEADER>0001104659-13-006004.hdr.sgml : 20130130
<ACCEPTANCE-DATETIME>20130130161358
ACCESSION NUMBER:		0001104659-13-006004
CONFORMED SUBMISSION TYPE:	497K
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20130130
DATE AS OF CHANGE:		20130130
EFFECTIVENESS DATE:		20130130

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SEI INSTITUTIONAL INTERNATIONAL TRUST
		CENTRAL INDEX KEY:			0000835597
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		497K
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-22821
		FILM NUMBER:		13559276

	BUSINESS ADDRESS:	
		STREET 1:		SEI INVESTMENTS ATTN: CAREN ROSCH
		STREET 2:		1FREEDOM CIRCLE DRIVE
		CITY:			OAKS
		STATE:			PA
		ZIP:			19456
		BUSINESS PHONE:		610 676-3097

	MAIL ADDRESS:	
		STREET 1:		SEI INVESTMENTS ATTN: CAREN ROSCH
		STREET 2:		1FREEDOM CIRCLE DRIVE
		CITY:			OAKS
		STATE:			PA
		ZIP:			19456

	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
<SERIES-AND-CLASSES-CONTRACTS-DATA>
<EXISTING-SERIES-AND-CLASSES-CONTRACTS>
<SERIES>
<OWNER-CIK>0000835597
<SERIES-ID>S000006418
<SERIES-NAME>SIT INTERNATIONAL EQUITY FUND
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000017607
<CLASS-CONTRACT-NAME>SIT INTERNATIONAL EQUITY FUND - CLASS A
<CLASS-CONTRACT-TICKER-SYMBOL>SEITX
</CLASS-CONTRACT>
</SERIES>
</EXISTING-SERIES-AND-CLASSES-CONTRACTS>
</SERIES-AND-CLASSES-CONTRACTS-DATA>
</SEC-HEADER>
<DOCUMENT>
<TYPE>497K
<SEQUENCE>1
<FILENAME>a12-28551_6497k.htm
<DESCRIPTION>497K
<TEXT>
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<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:12pt;">January 31, 2013</font></p>
<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:35pt;"><b>SUMMARY PROSPECTUS</b></font></p>
<p style="margin:9pt 0pt 0pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:16pt;">SIT International Equity Fund (SEITX)</font></p>
<p style="margin:0pt 0pt 24pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:16pt;">Class A</font></p>
<p style="margin:0pt 0pt 33pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">Before you invest, you may want to review the Fund's prospectus, which contains information about the Fund and its risks. You can find the Fund prospectus and other information about the Fund, including the Fund's Statement of Additional Information, online at seic.com/funds. You can also get this information at no cost by dialing 1-800-DIAL-SEI. The Fund's prospectus and statement of additional information, dated January 31, 2013, as may be supplemented from time to time, are incorporated by reference into this Summary Prospectus.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><b>Investment Goal</b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">Long-term capital appreciation.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><b>Fees and Expenses</b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">The following tables describe the fees and expenses that you may pay if you buy and hold Fund shares.</font></p>
<p style="margin:6pt 0pt 7pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:8pt;">SHAREHOLDER FEES</font></p>
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<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>(fees paid directly from your investment)</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="94" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>Class A Shares</b></font></p></td>
<td colspan="1">&nbsp;</td>
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<font face="Arial, Helvetica" style="font-size:8pt;">Redemption Fee (applies to a redemption, or series of redemptions, from a single identifiable<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">source that, in the aggregate, exceeds $50 million within any thirty (30) day period)</font></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="64" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">0.75</font></p></td>
<td colspan="1" width="22" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
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<p style="margin:18pt 0pt 7pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:8pt;">ANNUAL FUND OPERATING EXPENSES</font></p>
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<td colspan="3" width="352" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="94" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>Class A Shares</b></font></p></td>
<td colspan="1">&nbsp;</td>
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<td colspan="3" width="352" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 4pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">Management Fees</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 4pt 0pt;">
&nbsp;</td>
<td colspan="1" width="64" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 4pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">0.51</font></p></td>
<td colspan="1" width="22" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 4pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
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<td colspan="3" width="352" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">Distribution (12b-1) Fees</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
&nbsp;</td>
<td colspan="1" width="64" align="right" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">None</font></p></td>
<td colspan="1" width="22" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
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<td colspan="3" width="352" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 6pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">Other Expenses</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:0pt .7pt 6pt 0pt;">
&nbsp;</td>
<td colspan="1" width="64" bgcolor="#cceeff" align="right" valign="bottom" style="padding:0pt .7pt 6pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">0.75</font></p></td>
<td colspan="1" width="22" bgcolor="#cceeff" align="left" valign="bottom" style="padding:0pt .7pt 6pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
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<td colspan="3" width="352" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">Total Annual Fund Operating Expenses</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-top:solid windowtext 2pt;border-bottom:solid windowtext 2pt;">
&nbsp;</td>
<td colspan="1" width="64" align="right" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-top:solid windowtext 2pt;border-bottom:solid windowtext 2pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">1.26</font></p></td>
<td colspan="1" width="22" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-top:solid windowtext 2pt;border-bottom:solid windowtext 2pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
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<p style="margin:0pt 0pt 0pt 0pt;"><font face="Arial, Helvetica" style="font-size:12pt;"><b>seic.com</b></font></p>
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<p style="margin:0pt 0pt 0pt 0pt;"><font face="Arial, Helvetica" style="font-size:8pt;">SEI / SUMMARY PROSPECTUS</font></p>
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<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:8pt;">EXAMPLE</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">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 $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font></p>
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&nbsp;</td>
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<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>1 Year</b></font></p></td>
<td colspan="1">&nbsp;</td>
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<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>3 Years</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="70" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>5 Years</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="73" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>10 Years</b></font></p></td>
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<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">International Equity Fund &#151; Class A Shares</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">$</font></p></td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">128</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">$</font></p></td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">400</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">$</font></p></td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">692</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="21" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">$</font></p></td>
<td colspan="1" width="44" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">1,523</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
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<p style="margin:12pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:8pt;">PORTFOLIO TURNOVER</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">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 56% of the average value of its portfolio.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:13pt;">Principal Investment Strategies</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">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, warrants and depositary receipts. 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. Emerging market countries are those countries that are: (i) characterized as developing or emerging by any of the World Bank, the United Nations, the International Finance Corporation, or the European Bank for Reconstruction and Development; (ii) included in an emerging markets index by a recognized index provider; or (iii) countries with similar developing or emerging characteristics as countries classified as emerging market countries pursuant to sub-paragraph (i) and (ii) above, in each case determined at the time of purchase.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">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 (SIMC), the Fund's adviser.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">The Fund may invest in futures contracts, forward contracts and options for hedging purposes, including seeking to manage the Fund's currency exposure to foreign securities and mitigate the Fund's overall risk.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">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.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:13pt;">Principal Risks</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Credit Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; 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.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Currency Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; 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 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.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Depositary Receipts</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; Depositary receipts are certificates evidencing ownership of shares of a foreign issuer that are issued by depositary banks and generally trade on an established market. Depositary receipts are subject to many of the risks associated with investing directly in foreign securities, including, among other things, political, social and economic developments abroad, currency movements, and different legal, regulatory and tax environments.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Derivatives Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; The Fund's use of futures, forward contracts and options 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 </font></p>
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<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>2</font></p>
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<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:8pt;">SEI / SUMMARY PROSPECTUS</font></p>
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<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">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.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Equity Market Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; The risk that stock prices will fall over short or extended periods of time.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Exchange-Traded Funds (ETFs) Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; 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.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Foreign Investment/Emerging Markets Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; 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.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Investment Style Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; The risk that developed international equity securities may underperform other segments of the equity markets or the equity markets as a whole.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Leverage Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; The Fund's use of derivatives may result in the Fund's total investment exposure substantially exceeding the value of its portfolio securities and the Fund's investment returns depending substantially on the performance of securities that the Fund may not directly own. 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. The Fund's use of leverage may result in a heightened risk of investment loss.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Liquidity Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; 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.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Portfolio Turnover Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; 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.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><i>Small and Medium Capitalization Risk</i></font><font face="Arial, Helvetica" style="font-size:10pt;"> &#151; The risk that 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 capitalization and medium capitalization stocks may be more volatile than those of larger companies. Small capitalization and medium capitalization stocks may be traded over-the-counter or listed on an exchange.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">Loss of money is a risk of investing in the Fund.</font></p>
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<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>3</font></p>
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<p style="margin:0pt 0pt 0pt 0pt;"><font face="Arial, Helvetica" style="font-size:8pt;">SEI / SUMMARY PROSPECTUS</font></p>
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<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:13pt;">Performance Information</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">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, compare 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.</font></p>
<p style="margin:12pt 0pt 0pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><img src="j12285516_ba001.jpg">
&nbsp;&nbsp;</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:8pt;"><b>Best Quarter:</b></font><font face="Arial, Helvetica" style="font-size:8pt;"> 22.98% (06/30/09)</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:8pt;"><b>Worst Quarter: -</b></font><font face="Arial, Helvetica" style="font-size:8pt;">26.13% (09/30/08)</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><b>Average Annual Total Returns (for the periods ended December 31, 2012)</b></font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">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.</font></p>
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<td colspan="3" width="285" align="left" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>International Equity Fund &#151; Class A Shares</b></font></p></td>
<td colspan="1">&nbsp;</td>
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<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>1 Year</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="73" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>5 Years</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="74" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>10 Years</b></font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="84" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<font face="Arial, Helvetica" style="font-size:7pt;"><b>Since<BR></b></font><font face="Arial, Helvetica" style="font-size:7pt;"><b>Inception*<BR></b></font><font face="Arial, Helvetica" style="font-size:7pt;"><b>(12/20/1989)</b></font></td>
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<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">Return Before Taxes</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">16.07</font></p></td>
<td colspan="1" width="22" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">(7.32</font></p></td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">)%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="44" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">5.12</font></p></td>
<td colspan="1" width="22" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="54" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">3.05</font></p></td>
<td colspan="1" width="22" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
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<td colspan="3" width="285" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">Return After Taxes on Distributions</font></p></td>
<td colspan="1">&nbsp;</td>
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&nbsp;</td>
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<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">15.94</font></p></td>
<td colspan="1" width="22" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">(7.41</font></p></td>
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<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">)%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="44" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">4.50</font></p></td>
<td colspan="1" width="22" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="54" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">2.18</font></p></td>
<td colspan="1" width="22" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
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<tr>
<td colspan="3" width="285" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">Return After Taxes on Distributions and Sale of Fund Shares</font></p></td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
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<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">10.96</font></p></td>
<td colspan="1" width="22" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">(5.99</font></p></td>
<td colspan="1" width="24" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">)%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="44" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">4.48</font></p></td>
<td colspan="1" width="22" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="54" bgcolor="#cceeff" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">2.33</font></p></td>
<td colspan="1" width="22" bgcolor="#cceeff" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="285" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">MSCI EAFE Index Return (reflects no deduction for fees, expenses or taxes)</font></p></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">17.32</font></p></td>
<td colspan="1" width="22" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="41" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">(3.69</font></p></td>
<td colspan="1" width="24" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">)%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="44" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">8.21</font></p></td>
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<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
&nbsp;</td>
<td colspan="1" width="54" align="right" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:8pt;">3.99</font></p></td>
<td colspan="1" width="22" align="left" valign="bottom" style="padding:4pt .7pt 0pt 0pt;">
<p style="margin:0pt 0pt 0pt 0pt; white-space:nowrap"><font face="Arial, Helvetica" style="font-size:8pt;">%</font></p></td>
<td colspan="1" width="8">&nbsp;</td>
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<p style="margin:9pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:8pt;">* Index returns are shown from December 31, 1989.</font></p>
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<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>4</font></p>
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<p style="margin:0pt 0pt 0pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:8pt;">SEI / SUMMARY PROSPECTUS</font></p>
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<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:13pt;">Management</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><b>Investment Adviser.</b></font><font face="Arial, Helvetica" style="font-size:10pt;"> SEI Investments Management Corporation</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;"><b>Sub-Advisers and Portfolio Managers.</b></font></p>
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<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>Sub-Adviser</b></font></p></td>
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<td colspan="3" width="122" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>Portfolio Manager</b></font></p></td>
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<font face="Arial, Helvetica" style="font-size:7pt;"><b>Experience with<BR></b></font><font face="Arial, Helvetica" style="font-size:7pt;"><b>the Fund</b></font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="174" align="center" valign="bottom" style="padding:0pt .7pt 0pt 0pt; border:none; border-bottom:solid windowtext 1pt;">
<p style="margin:0pt 0pt 0pt 0pt"><font face="Arial, Helvetica" style="font-size:7pt;"><b>Title with Sub-Adviser</b></font></p></td>
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<font face="Arial, Helvetica" style="font-size:8pt;">Acadian Asset<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Management LLC<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="122" align="left" valign="bottom" style="padding:4pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">John Chisholm<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Asha Mehta</font></td>
<td colspan="1">&nbsp;</td>
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<font face="Arial, Helvetica" style="font-size:8pt;">Since 2009<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Since 2010</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="174" align="left" valign="bottom" style="padding:4pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Executive Vice President, Chief Investment <BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Officer<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Vice President, Portfolio Manager</font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="90" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Causeway Capital<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Management LLC<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="122" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Sarah H. Ketterer<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Harry W. Hartford<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">James A. Doyle<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Jonathan P. Eng<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Kevin Durkin<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Conor Muldoon, CFA</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Since 2010<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Since 2010<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Since 2010<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Since 2010<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Since 2010<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Since 2010</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="174" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Chief Executive Officer<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">President<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Director<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Director<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Director<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Director</font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="90" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">del Rey Global <BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Investors, LLC</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="122" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Paul Hechmer<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Since 2011<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="174" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Chief Executive Officer, Chief Investment<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Officer and Managing Member</font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="90" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">INTECH Investment <BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Management LLC<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="122" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Adrian Banner, Ph.D.<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Joseph Runnels, CFA<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Vassilios Papathanakos, Ph.D.<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Phillip Whitman, Ph.D.</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Since 2009<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Since 2009<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Since 2012<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Since 2012</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="174" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Chief Executive Officer and Chief Investment <BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Officer<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Vice President &#151; Portfolio Management<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Deputy Chief Investment Officer<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Director of Research</font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="90" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Neuberger Berman<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Management LLC</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="122" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Benjamin Segal, CFA<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Since 2010<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="174" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Managing Director<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="90" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Schroder Investment<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Management <BR></font><font face="Arial, Helvetica" style="font-size:8pt;">North America Inc</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="122" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Virginie Maisonneuve<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Simon Webber<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Since 2010<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Since 2010<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="174" align="left" valign="bottom" style="padding:0pt .7pt 4pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Head of Global &amp; International Equities<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Portfolio Manager, Global &amp; International <BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Equities</font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="90" align="left" valign="bottom" style="padding:0pt .7pt 10pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Tradewinds Global<BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Investors, LLC</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="122" align="left" valign="bottom" style="padding:0pt .7pt 10pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Peter L. Boardman<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" align="left" valign="bottom" style="padding:0pt .7pt 10pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Since 2010<BR></font><font face="Arial, Helvetica" style="font-size:8pt;"> &nbsp;</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="174" align="left" valign="bottom" style="padding:0pt .7pt 10pt 0pt;">
<font face="Arial, Helvetica" style="font-size:8pt;">Managing Director, Equity <BR></font><font face="Arial, Helvetica" style="font-size:8pt;">Analyst &amp; Portfolio Manager</font></td>
<td colspan="1">&nbsp;</td>
</tr>
</table>

<p style="margin:9pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:13pt;">Purchase and Sale of Fund Shares</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">The minimum initial investment for Class A Shares is $100,000 with minimum subsequent investments of $1,000, which may be waived at the discretion of SIMC. You may purchase and redeem shares of a Fund on any day that the New York Stock Exchange (NYSE) is open for business (a Business Day). You may sell your Fund shares by contacting your financial institution or intermediary directly. Financial institutions and intermediaries may redeem Fund shares on behalf of their clients by contacting the Fund's transfer agent (the Transfer Agent) or the Fund's authorized agent, using certain SEI proprietary systems or calling 1-800-858-7233, as applicable.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:13pt;">Tax Information</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">The distributions made by the Fund are taxable and will be taxed as ordinary income or capital gains. If you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account, you will generally not be subject to federal taxation on Fund distributions until you begin receiving distributions from your tax-deferred arrangement. You should consult your tax advisor regarding the rules governing your tax-deferred arrangement.</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:13pt;">Payments to Broker-Dealers and Other Financial Intermediaries</font></p>
<p style="margin:0pt 0pt 6pt 0pt;" align="left"><font face="Arial, Helvetica" style="font-size:10pt;">If you purchase Fund shares through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.</font></p>
</div>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times"><br>5</font></p>
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