N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSRS

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number 811-05601

SEI Institutional International Trust

SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

c/o CT Corporation

155 Federal Street

Boston, MA 02110

Registrant’s telephone number, including area code: 1-800-342-5734

Date of fiscal year end: September 30, 2015

Date of reporting period: March 31, 2015

Item 1. Reports to Stockholders.

March 31, 2015

SEMI-ANNUAL REPORT

SEI Institutional International Trust

† International Equity Fund

† Emerging Markets Equity Fund

† International Fixed Income Fund

† Emerging Markets Debt Fund

TABLE OF CONTENTS

Schedules of Investments	1
Statements of Assets and Liabilities	49
Statements of Operations	50
Statements of Changes in Net Assets	51
Financial Highlights	53
Notes to Financial Statements	54
Disclosure of Fund Expenses	65
Board of Trustees Considerations in Approving the Advisory and Sub-Advisory Agreements	66

The Trust files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-Q within sixty days after the end of the period. The Trust’s Form N-Q is available on the Commission’s website at http://www.sec.gov, and may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

A description of the policies and procedures that the Trust uses to determine how to vote proxies relating to portfolio securities, as well as information relating to how a Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, is available (i) without charge, upon request, by calling 1-800-DIAL-SEI; and (ii) on the Commission’s website at http://www.sec.gov.

SCHEDULE OF INVESTMENTS (Unaudited)

International Equity Fund

March 31, 2015

Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 92.2%
Australia — 3.0%
Alumina		421,737	$	517
Amcor		449,122		4,817
AMP		309,106		1,521
APA Group		201,256		1,391
Australia & New Zealand Banking Group		236,726		6,626
Australian Stock Exchange		32,473		1,027
Bank of Queensland		40,764		429
Bendigo & Adelaide Bank		63,662		610
Brambles		694,305		6,110
Caltex Australia		185,362		4,949
Cochlear		14,414		997
Commonwealth Bank of Australia		197,633		14,102
CSL		64,084		4,510
CSR		633,976		1,952
Dexus Property Group (A)		128,349		743
Downer EDI		168,919		577
DuluxGroup		40,246		197
Echo Entertainment Group		154,008		532
Federation Centres (A)		232,451		540
Goodman Group (A)		266,047		1,291
GPT Group (A)		202,429		707
Insurance Australia Group		1,327,321		6,185
Lend Lease		127,221		1,617
Macquarie Group		77,287		4,527
Magellan Financial Group		24,414		366
National Australia Bank		100,675		2,965
Nufarm		46,389		236
Qantas Airways*		1,071,309		2,554
Ramsay Health Care		13,363		686
Regis Healthcare*		35,746		164
Sandfire Resources NL		16,266		55
Scentre Group (A)		668,061		1,909
Seek		15,556		203
Stockland (A)		199,487		686
Suncorp Group		234,614		2,420

Description	Shares		Market Value ($ Thousands)
Tatts Group		251,629	$	765
Telstra		265,264		1,279
Transfield Services*		86,921		91
Transurban Group		225,935		1,645
Westfield (A)		112,961		824
Westpac Banking		7,350		221
Woodside Petroleum		66,143		1,744
				85,287
Austria — 0.3%
Andritz (B)		114,265		6,833
Immobilien Anlagen		5,092		96
OMV		33,055		907
UBM Realitaetenentwicklung		336		15
				7,851
Belgium — 1.7%
Ageas		259,056		9,294
AGFA-Gevaert*		70,231		162
Anheuser-Busch InBev		22,206		2,714
Belgacom (B)		24,914		872
Colruyt		111,566		4,857
Delhaize Group		51,892		4,666
Groupe Bruxelles Lambert		80,338		6,657
KBC Groep		270,552		16,725
UCB		21,207		1,534
				47,481
Brazil — 0.1%
Centrais Eletricas Brasileiras ADR (B)		985,931		1,785
Cia Energetica de Minas Gerais ADR (B)		319,374		1,306
				3,091
Canada — 2.9%
Agrium (B)		53,863		5,616
Alimentation Couche-Tard, Cl B		250,800		9,994
Baytex Energy (B)		335,400		5,304
Cameco		396,299		5,520
Canadian Imperial Bank of Commerce		19,100		1,385
Canadian Natural Resources		139,200		4,275
Canfor Pulp Products		4,300		51
CCL Industries, Cl B		1,700		191
Cenovus Energy		147,122		2,480
CGI Group, Cl A*		37,600		1,595
Cogeco Cable		27,200		1,459
Dominion Diamond*		17,400		297
Entertainment One		45,396		204
Gildan Activewear		395,682		11,666
Home Capital Group, Cl B		157,600		5,296
Imperial Oil		132,200		5,277

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 1

SCHEDULE OF INVESTMENTS (Unaudited)

International Equity Fund (Continued)

March 31, 2015

Description	Shares		Market Value ($ Thousands)
Jean Coutu Group PJC, Cl A		50,100	$	1,071
Linamar		21,100		1,301
Magellan Aerospace		5,200		55
Magna International, Cl A		90,200		4,822
Open Text		122,005		6,441
Quebecor, Cl B		20,000		535
ShawCor		128,900		3,583
Suncor Energy		146,200		4,272
Transcontinental, Cl A		17,100		236
				82,926
China — 0.0%
Agricultural Bank of China		226,000		112
Bank of China		134,000		77
China Telecom		330,000		212
				401
Denmark — 1.4%
AP Moeller - Maersk, Cl A (B)		487		989
AP Moeller - Maersk, Cl B (B)		843		1,762
Bavarian Nordic*		4,192		215
Coloplast, Cl B		12,609		954
Danske Bank		93,527		2,467
H Lundbeck		183,062		3,855
ISS*		320,433		10,088
Jyske Bank*		128,901		5,428
Novo Nordisk, Cl B		147,559		7,891
Pandora (B)		64,373		5,863
PER Aarsleff, Cl B		478		133
				39,645
Finland — 0.6%
Fortum (B)		78,255		1,644
Kone, Cl B		17,427		773
Metsa Board, Cl B (B)		15,105		93
Neste Oil (B)		114,696		3,006
Nokia		146,596		1,119
Orion, Cl B (B)		79,127		2,234
Sampo, Cl A		63,784		3,221
Stora Enso, Cl R		253,562		2,612
Tieto		15,404		362
UPM-Kymmene		124,319		2,419
Valmet (B)		13,486		162
				17,645
France — 9.3%
Actia Group*		6,787		49
Aeroports de Paris		4,954		592
Alcatel-Lucent*		2,887,284		10,915
Arkema		69,127		5,474
AtoS		8,099		559
AXA		265,197		6,680
BNP Paribas		331,314		20,129

Description	Shares		Market Value ($ Thousands)
Boiron		1,900	$	204
Bonduelle S.C.A.		2,303		59
Carrefour		320,879		10,714
Cie des Alpes		3,261		59
Cie Generale des Etablissements- Michelin, Cl B		74,606		7,420
Coface*		7,187		89
Dassault Systemes		25,427		1,724
Electricite de France		226,006		5,423
Essilor International		7,247		831
Etablissements Maurel et Prom (B)		15,912		116
Eurofins Scientific		1,076		290
Eutelsat Communications		27,227		902
Faurecia*		7,219		316
Gaztransport Et Technigaz		1,849		109
GDF Suez		492,887		9,743
Groupe Eurotunnel		33,212		476
Groupe Fnac*		1,286		80
Ipsen		28,498		1,347
IPSOS (B)		4,049		113
Klepierre (A)		14,486		711
Legrand (B)		191,515		10,354
L’Oreal		320		59
Metropole Television		21,706		435
Natixis		133,741		1,000
Numericable-SFR SAS*		15,399		839
Orange		832,400		13,379
Pernod Ricard		47,955		5,673
Peugeot		23,922		401
Publicis Groupe		102,056		7,873
Rallye		15,835		596
Rexel		1,011,147		19,075
Sanofi		382,935		37,808
Schneider Electric		243,985		18,959
SES		53,554		1,893
Societe BIC		4,474		637
Sodexo		97,619		9,519
Technicolor		209,719		1,353
Technip (B)		150,549		9,114
Teleperformance		4,248		291
Thales		108,098		6,002
Total		468,243		23,271
UBISOFT Entertainment*		6,689		124
Unibail-Rodamco (A)		2,525		681
Valeo		22,621		3,378
Vallourec (B)		226,490		5,528
Vetoquinol		1,345		52
Virbac		481		114
				263,532
Germany — 5.9%
Bayer		225,262		33,858
Brenntag		140,312		8,403

2 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description	Shares		Market Value ($ Thousands)
Continental		40,418	$	9,563
Daimler		154,551		14,894
Daimler ADR		4,220		395
Deutsche Annington Immobilien		23,939		807
Deutsche Bank		112,742		3,918
Deutsche Boerse		70,224		5,737
Deutsche Euroshop		29,331		1,458
Deutsche Lufthansa		201,271		2,827
Deutsche Post		38,252		1,195
Deutsche Wohnen		65,828		1,685
Dialog Semiconductor*		148,094		6,691
Duerr		12,456		1,371
Gerresheimer		20,399		1,125
Henkel		912		94
Hochtief		51,963		3,939
Hugo Boss		5,356		651
Infineon Technologies		69,095		826
Infineon Technologies ADR		133,024		1,594
KION Group		2,542		104
Krones		4,729		492
KUKA		40,485		3,118
Linde		97,693		19,899
Merck		59,881		6,724
Nemetschek		696		90
Nordex*		68,932		1,402
Norma Group		4,375		220
Rhoen Klinikum		44,286		1,100
SAP		172,557		12,515
SAP ADR (B)		106,800		7,708
Siemens		68,538		7,413
Software		8,543		223
STADA Arzneimittel		7,027		235
STRATEC Biomedical		1,381		68
Symrise		14,365		908
ThyssenKrupp		50,333		1,321
TLG Immobilien*		3,378		53
TUI		156,224		2,745
Wacker Neuson		2,833		71
				167,440
Hong Kong — 3.2%
AIA Group		1,820,084		11,456
BOC Hong Kong Holdings		428,000		1,526
Chaoda Modern Agriculture		2,440,000		138
Cheung Kong Infrastructure Holdings		107,000		920
China Merchants Holdings International		1,389,779		5,440
China Mobile		1,156,740		15,099
CK Hutchison Holdings		257,000		5,264
CLP Holdings		205,500		1,796
CNOOC		5,802,000		8,202
Cosmo Lady China Holdings* (C)		4,997,919		3,539
Digital China Holdings		4,431,000		4,835

Description	Shares		Market Value ($ Thousands)
Hang Lung Properties		184,000	$	517
Hang Seng Bank		25,300		459
Henderson Land Development		752,000		5,281
HKR International		64,000		32
HKT Trust		502,000		647
Hong Kong & China Gas		944,000		2,184
Hong Kong Exchanges and Clearing		127,500		3,125
Hutchison Whampoa		76,500		1,062
Hysan Development		101,000		443
Jardine Matheson Holdings		96,242		6,083
Link (A)		420,000		2,589
MTR		144,500		688
New World Development		717,000		831
Power Assets Holdings		235,000		2,404
Sun Hung Kai Properties		108,000		1,666
Swire Pacific, Cl A		98,000		1,336
Swire Properties		203,600		663
Wheelock		154,000		788
				89,013
India — 0.1%
Tata Motors ADR		63,498		2,861
Indonesia — 0.1%
APERAM* (B)		77,101		3,093
Ireland — 0.6%
Bank of Ireland*		4,897,261		1,862
DCC		78,900		4,712
ICON*		60,862		4,293
Pentair		65,600		4,125
Ryanair Holdings ADR		42,800		2,858
				17,850
Israel — 1.9%
Bezeq Israeli Telecommunication		5,228,364		9,756
Check Point Software Technologies*		181,200		14,853
Teva Pharmaceutical Industries		48,784		3,062
Teva Pharmaceutical Industries ADR		428,239		26,679
				54,350
Italy — 1.9%
Atlantia		23,758		624
Azimut Holding		236,440		6,747
Enel		1,283,112		5,804
Eni		32,045		555
Exor		78,286		3,556
Fiat Chrysler Automobiles*		20,367		331
Intesa Sanpaolo		1,844,898		6,273
Mediaset		1,997,555		9,126

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 3

SCHEDULE OF INVESTMENTS (Unaudited)

International Equity Fund (Continued)

March 31, 2015

Description	Shares		Market Value ($ Thousands)
Recordati		27,315	$	511
Snam Rete Gas		369,590		1,794
Telecom Italia		924,598		1,084
Telecom Italia RNC		5,620,472		5,282
Terna Rete Elettrica Nazionale		160,035		705
UniCredit		1,669,427		11,350
				53,742
Japan — 18.9%
Accretive		37,500		100
Ain Pharmaciez		5,900		234
Ajinomoto		47,000		1,032
Alfresa Holdings		8,800		124
Alpine Electronics		9,200		154
Alps Electric		97,500		2,360
Arcland Sakamoto		16,700		359
Asahi Glass		33,000		217
Asahi Kasei		385,000		3,689
ASKUL		31,109		733
Astellas Pharma		170,400		2,796
Bandai Namco Holdings		20,200		394
Bic Camera (B)		7,300		76
Brother Industries		35,700		569
Calbee		14,500		631
Canon Marketing Japan		67,400		1,355
Casio Computer (B)		37,200		707
Central Japan Railway		43,200		7,833
Chiba Bank		102,000		750
Chugai Pharmaceutical		6,100		193
Chugoku Bank		32,800		491
Dai Nippon Printing		651,000		6,340
Daicel		49,000		586
Daikin Industries		21,300		1,429
Daito Trust Construction		52,000		5,821
Daiwa House Industry		174,000		3,440
Daiwa Securities Group		117,000		923
Dydo Drinco		8,700		350
East Japan Railway		86,200		6,929
Ebara		2,413,170		10,202
Fancl		13,300		170
Fanuc		55,800		12,214
Fast Retailing		2,800		1,086
Foster Electric		3,300		83
Fuji Film Holdings		536,538		19,133
Fuji Heavy Industries		211,614		7,042
Fuji Soft		6,100		124
Fujitsu		521,000		3,558
Fukuoka Financial Group		91,000		470
Geo Holdings		20,000		212
Hakuhodo DY Holdings		45,200		482
Hamamatsu Photonics		23,800		721
Hankyu Hanshin Holdings		77,000		477
Haseko		37,400		365
Hitachi		1,942,000		13,330

Description	Shares		Market Value ($ Thousands)
Hokuetsu Kishu Paper		34,000	$	153
Hoya		223,787		8,990
Ishihara Sangyo Kaisha*		132,000		128
IT Holdings		30,500		558
Japan Airlines		134,000		4,179
Japan Prime Realty Investment, Cl A (A)		38		131
Japan Tobacco		558,144		17,688
JGC		306,000		6,094
kabu.com Securities		46,000		303
Kajima		177,000		824
Kaken Pharmaceutical		14,000		406
Kanematsu		158,000		231
Kansai Paint		721,600		13,141
Kao		77,200		3,862
KDDI		843,300		19,130
Keio		105,000		826
Keisei Electric Railway		50,000		622
Keyence		18,200		9,956
Kobe Steel		389,000		720
Koito Manufacturing		200,470		6,043
Komatsu		429,500		8,461
Konica Minolta		42,700		435
Kuraray		56,400		765
Kyowa Hakko Kirin		40,000		523
Kyudenko		8,000		88
Mabuchi Motor		170,200		9,040
MEIJI Holdings		10,300		1,258
Minebea		59,000		934
Miraca Holdings		128,900		5,944
Misawa Homes		10,400		91
Mitsubishi		28,300		571
Mitsubishi Chemical Holdings		169,200		986
Mitsubishi Electric		63,000		750
Mitsui		96,800		1,301
Mitsui Chemicals		152,000		489
Mizuho Financial Group		1,827,000		3,216
Morinaga Milk Industry		155,000		589
MS&AD Insurance Group Holdings		437,400		12,291
Nagoya Railroad		105,000		420
Nexon		11,700		125
NGK Insulators		34,000		727
NGK Spark Plug		29,800		803
NH Foods		30,000		692
Nichi-iko Pharmaceutical		19,600		452
Nichirei		10,000		56
Nidec		40,600		2,704
Nihon Kohden		219,400		5,992
Nihon Unisys		7,200		68
Nikon (B)		724,600		9,728
Nippo		16,000		265
Nippon Chemi-Con*		31,000		91
Nippon Paint Holdings		29,000		1,064

4 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description	Shares		Market Value ($ Thousands)
Nippon Paper Industries		23,700	$	357
Nippon Prologis (A)		301		664
Nippon Suisan Kaisha		104,300		317
Nippon Telegraph & Telephone		92,500		5,705
Nippon Telegraph & Telephone ADR		370,250		11,411
Nissha Printing		41,900		767
Nissin Food Products		12,300		606
Nitori Holdings		12,700		862
Nitto Denko		16,000		1,071
NOK		16,300		492
Nomura Real Estate Holdings		52,500		948
North Pacific Bank		132,600		502
NSK		73,000		1,070
NTT DOCOMO		428,624		7,454
Obayashi		96,000		624
Odakyu Electric Railway		55,000		562
OKUMA		13,000		121
Olympus*		13,300		495
Oriental Land		100,336		7,609
Otsuka Holdings		123,100		3,859
Panasonic		343,400		4,516
Rohm		82,400		5,655
Ryohin Keikaku		28,165		4,101
Santen Pharmaceutical		554,500		8,092
SBI Holdings		62,900		764
Seiko Epson		64,800		1,151
Seino Holdings		96,000		1,043
Sekisui House		468,300		6,816
Seven & I Holdings		164,600		6,935
Shimano		12,100		1,804
Shimizu		91,000		617
Shin-Etsu Chemical		142,100		9,302
Shionogi		29,700		992
Shiseido (B)		518,900		9,229
SKY Perfect JSAT Holdings		39,200		244
SMC		45,200		13,510
SoftBank		309,283		18,001
Sony		35,000		931
Sugi Holdings		101,000		5,003
Sumitomo Heavy Industries		175,000		1,148
Sumitomo Metal Mining		91,000		1,334
Sumitomo Mitsui Financial Group		535,000		20,528
Sumitomo Mitsui Trust Holdings		1,944,220		8,033
Sumitomo Rubber Industries		10,900		202
Sundrug		116,400		6,057
Suruga Bank		23,000		478
Suzuki Motor		67,300		2,027
Sysmex		21,100		1,174
Taisei		137,000		776
Takuma		24,000		189
TDK		14,200		1,011
Terumo		35,300		933
Tochigi Bank		10,000		52

Description	Shares		Market Value ($ Thousands)
Toho		21,900	$	537
Toho Gas		78,000		456
Toho Holdings		4,500		76
Tohoku Electric Power		83,900		956
Tokyo Electron		7,000		489
Tokyo Gas		150,000		946
Tokyu		114,000		707
Tonami Holdings		14,000		51
Toppan Forms		6,600		75
Tosoh		47,000		237
Toyota Motor		379,200		26,507
Toyota Motor ADR		52,058		7,282
Tsuruha Holdings		136,222		10,450
Ulvac*		14,800		228
Unicharm		21,400		562
United Urban Investment (A)		81		126
USS		44,700		775
Wacoal Holdings		599,704		6,761
Warabeya Nichiyo		13,300		248
Watabe Wedding		6,395		27
West Japan Railway		24,900		1,309
Yamaha Motor		37,300		903
Yamazaki Baking		112,000		2,024
Yellow Hat		12,500		268
Yurtec		9,000		60
Zenkoku Hosho		13,100		492
				535,884
Malta — 0.0%
BGP Holdings*		198,683		—
Mexico — 0.1%
America Movil ADR, Ser L		90,707		1,856
Gruma, Cl B		27,044		344
				2,200
Netherlands — 6.5%
Aegon (B)		927,949		7,324
Akzo Nobel		385,148		29,129
ASML Holding		204,340		20,803
BE Semiconductor Industries		4,697		151
BinckBank		34,364		280
Boskalis Westminster		41,947		2,063
Heineken Holding		5,558		383
ING Groep*		754,777		11,061
Koninklijke Ahold		367,764		7,248
Koninklijke DSM		115,463		6,445
Koninklijke Vopak		4,815		266
Nielsen		190,500		8,490
NXP Semiconductors*		71,354		7,161
PostNL		946,783		4,029
QIAGEN*		31,542		795
Randstad Holding		53,837		3,266
Reed Elsevier		914,927		22,787

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 5

SCHEDULE OF INVESTMENTS (Unaudited)

International Equity Fund (Continued)

March 31, 2015

Description	Shares		Market Value ($ Thousands)
Refresco Gerber* (C)		189,582	$	2,907
Royal Dutch Shell, Cl A		373,848		11,168
Royal Dutch Shell, Cl B		66,628		2,076
Royal Dutch Shell ADR, Cl B (B)		175,042		10,975
TNT Express		1,212,145		7,708
Unilever		222,763		9,310
Wolters Kluwer		239,942		7,834
				183,659
New Zealand — 0.1%
Air New Zealand		139,644		285
Fletcher Building		17,138		108
Meridian Energy		76,802		117
Spark New Zealand		319,942		715
				1,225
Norway — 0.9%
Aker Solutions*		637,493		3,320
DnB		241,912		3,893
Gjensidige Forsikring		25,753		445
Kvaerner		80,275		60
Norsk Hydro		288,426		1,517
Orkla		171,094		1,294
Statoil		361,666		6,408
Telenor		273,888		5,536
Veidekke		8,294		97
Yara International		27,360		1,392
				23,962
Poland — 0.0%
Tauron Polska Energia		59,269		69
Portugal — 0.4%
CTT Correios de Portugal		1,068,331		11,455
Energias de Portugal		192,980		722
NOS SGPS		25,991		188
Semapa-Sociedade de Investimento e Gestao		5,449		73
				12,438
Russia — 0.0%
Surgutneftegas ADR		8,414		52
Singapore — 1.0%
CapitaCommercial Trust (A)		406,000		522
CapitaLand		267,000		697
City Developments		771,000		5,654
ComfortDelgro		353,000		744
DBS Group Holdings		453,200		6,727
Flextronics International*		452,911		5,741
Oversea-Chinese Banking		124,200		957
Sembcorp Marine (B)		263,700		561
Singapore Airlines		170,100		1,482

Description	Shares		Market Value ($ Thousands)
Singapore Telecommunications		255,000	$	814
United Overseas Bank		294,600		4,940
				28,839
South Africa — 0.1%
Impala Platinum Holdings		184,765		897
Liberty Holdings		35,960		498
				1,395
South Korea — 3.0%
Cosmax		87,912		10,816
Hyundai Motor		66,563		10,109
KB Financial Group ADR		152,945		5,375
KT&G		136,407		10,906
LG Display ADR (B)		215,154		3,079
Samsung Electronics		17,026		22,114
SK Hynix		7,965		327
SK Telecom		54,857		13,474
SK Telecom ADR		293,466		7,985
				84,185
Spain — 0.8%
ACS Actividades de Construccion y Servicios		118,548		4,202
Banco Santander		546,156		4,116
Bankinter		131,463		1,003
Bolsas y Mercados Espanoles SHMSF		1,571		70
CaixaBank		88,665		420
Enagas		33,212		950
Ferrovial		44,015		936
Gas Natural		77,753		1,746
Iberdrola		694,473		4,477
Red Electrica		19,665		1,600
Tecnicas Reunidas (B)		97,929		4,112
				23,632
Sweden — 1.4%
BillerudKorsnas		50,982		823
Boliden		159,211		3,164
Electrolux, Cl B		156,677		4,491
Fastighets Balder, Cl B*		5,244		89
Hemfosa Fastigheter		8,192		187
Holmen, Cl B		6,119		207
Hufvudstaden, Cl A		20,327		279
Husqvarna, Cl B		187,214		1,357
Industrivarden, Cl C		50,642		951
Intrum Justitia		10,280		289
Investor, Cl B		37,219		1,483
JM		25,049		834
L E Lundbergforetagen, Cl B		10,706		489
Loomis, Cl B		6,766		207

6 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description	Shares		Market Value ($ Thousands)
Meda, Cl A		14,812	$	234
Mycronic*		9,212		57
Nordea Bank		352,103		4,299
Peab		32,395		255
Skandinaviska Enskilda Banken, Cl A		302,642		3,541
Swedbank, Cl A		12,312		294
Telefonaktiebolaget LM Ericsson, Cl B		706,598		8,882
Telefonaktiebolaget LM Ericsson ADR		647,199		8,122
				40,534
Switzerland — 7.9%
Actelion		35,292		4,091
Aryzta*		13,921		856
Chocoladefabriken Lindt & Sprungli		198		1,816
Cie Financiere Richemont		54,030		4,356
Clariant*		897,139		17,956
Credit Suisse Group		206,519		5,566
Emmi		824		285
EMS-Chemie Holding		1,413		577
Galenica		892		781
Geberit		5,086		1,911
Georg Fischer		277		190
Givaudan		10,900		19,773
Julius Baer Group		121,235		6,086
Lonza Group		35,009		4,379
Nestle		13,839		1,046
Novartis		404,190		40,011
Partners Group Holding		21,420		6,406
Roche Holding		126,790		34,997
SGS		5,039		9,650
Siegfried Holding		717		110
Sika		1,043		3,736
Sonova Holding		48,565		6,765
Swiss Life Holding		18,242		4,517
Swiss Re		25,519		2,472
Swisscom		2,588		1,504
UBS		587,256		10,967
UBS Group*		1,213,437		22,887
Zurich Insurance Group		32,442		10,999
				224,690
Taiwan — 0.2%
AU Optronics ADR (B)		48,693		244
Hon Hai Precision Industry		968,160		2,834
Pegatron		582,000		1,576
Taiwan Semiconductor Manufacturing		9,891		232
United Microelectronics ADR		257,109		627
				5,513

Description	Shares		Market Value ($ Thousands)
Thailand — 0.0%
Asia Plus Group Holdings Securities		755,600	$	90
Padaeng Industry		100,100		55
Tipco Asphalt		18,300		59
				204
United Kingdom — 16.5%
Amlin		1,218,784		9,146
Aon		99,400		9,554
ARM Holdings		87,391		1,434
Ashtead Group		443,195		7,132
Associated British Foods		131,625		5,506
AstraZeneca		102,510		7,040
Aviva		2,134,609		17,112
BAE Systems		309,403		2,404
Balfour Beatty		1,074,570		3,830
Barclays		4,844,722		17,448
Berendsen		54,241		899
BG Group		1,404,755		17,288
BP		357,219		2,316
BP ADR		72,369		2,830
British American Tobacco		339,078		17,560
British Land (A)		222,872		2,754
BT Group, Cl A		80,484		523
Bunzl		449,049		12,206
Capita		86,807		1,438
Carnival		231,408		11,323
Compass Group		291,348		5,069
Diageo		42,638		1,177
Dixons Carphone		129,263		792
DS Smith		2,160,000		11,069
Genus		13,622		277
GlaxoSmithKline		841,963		19,323
Glencore		1,309,700		5,559
Greggs		21,949		333
Hammerson (A)		152,652		1,507
Hikma Pharmaceuticals		51,075		1,615
Home Retail Group		2,981,479		7,303
Howden Joinery Group		1,023,705		6,741
HSBC Holdings		2,105,638		18,037
Imperial Tobacco Group		38,568		1,696
Inchcape		57,618		680
InterContinental Hotels Group		42,366		1,657
International Consolidated Airlines Group*		1,359,889		12,173
Intu Properties (A)		156,397		808
Investec (B)		451,816		3,768
ITV		3,060,000		11,488
Kingfisher		1,406,584		7,947
Land Securities Group (A)		39,877		742
Legal & General Group		764,713		3,163
Lloyds Banking Group*		22,585,442		26,246
London Stock Exchange Group		40,070		1,463

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 7

SCHEDULE OF INVESTMENTS (Unaudited)

International Equity Fund (Concluded)

March 31, 2015

Description	Shares		Market Value ($ Thousands)
Man Group		590,574	$	1,787
Michael Page International		699,531		5,415
Mondi		168,552		3,248
National Grid		341,693		4,386
Next		27,003		2,816
Persimmon		33,789		834
Prudential		353,410		8,772
QinetiQ Group		129,486		367
Reckitt Benckiser Group		15,608		1,344
Reed Elsevier		875,091		15,056
Rentokil Initial		5,427,000		11,013
Rio Tinto		247,800		10,197
SABMiller		119,850		6,298
Segro (A)		116,190		719
Severn Trent		40,183		1,228
Shire		86,044		6,853
Smith & Nephew		182,783		3,104
Spectris		131,100		4,204
SSE		466,488		10,374
St. James’s Place		474,566		6,583
Synthomer		21,503		98
TalkTalk Telecom Group		1,768,790		9,035
Tate & Lyle		18,421		163
Tesco		2,277,895		8,178
Travis Perkins		245,747		7,114
Unilever		34,406		1,438
United Utilities Group		122,124		1,691
Vodafone Group		6,216,842		20,345
Weir Group		20,556		519
Whitbread		29,617		2,306
WPP		500,000		11,364
Xchanging		37,173		75
				467,300
United States — 1.4%
Apple		37,319		4,644
Axis Capital Holdings		176,543		9,106
Gilead Sciences*		54,256		5,324
Grifols ADR		353,000		11,582
ManpowerGroup		86,207		7,427
Taro Pharmaceutical Industries*		6,680		942
				39,025
Total Common Stock (Cost $2,428,165) ($ Thousands)				2,611,014
PREFERRED STOCK — 1.5%
Germany — 1.1%
Draegerwerk		2,624		327
Henkel		74,380		8,751
Volkswagen		76,899		20,470
				29,548

Description		Shares/ Face Amount (1) (Thousands)		Market Value ($ Thousands)
South Korea — 0.4%
Hyundai Motor			50,510	$	5,054
Samsung Electronics			6,754		6,721
					11,775
Total Preferred Stock (Cost $37,180) ($ Thousands)					41,323
U.S. TREASURY OBLIGATION (D) (E) — 0.5%
U.S. Treasury Bills
0.049%, 05/28/2015			14,007		14,006
Total U.S. Treasury Obligation (Cost $14,006) ($ Thousands)					14,006
AFFILIATED PARTNERSHIP — 3.1%
SEI Liquidity Fund, L.P.
0.070%†** (F)			87,517,707		87,518
Total Affiliated Partnership (Cost $87,518) ($ Thousands)					87,518
CASH EQUIVALENT — 2.8%
SEI Daily Income Trust, Prime Obligation Fund, Cl A
0.010%†**			80,952,435		80,952
Total Cash Equivalent (Cost $80,952) ($ Thousands)					80,952
TIME DEPOSITS — 2.9%
Brown Brothers Harriman
4.800%, 04/01/2015	ZAR		24		2
2.950%, 04/01/2015	NZD		9		7
1.462%, 04/01/2015	AUD		124		95
0.350%, 04/01/2015	NOK		43		5
0.100%, 04/01/2015	CAD		727		574
0.074%, 04/01/2015	GBP		267		396
0.030%, 04/01/2015			80,354		80,354
0.005%, 04/01/2015	SGD		—		—
0.005%, 04/01/2015	JPY		18,345		153
0.005%, 04/01/2015	HKD		1		—
(0.100)%, 04/01/2015	DKK		109		16
(0.198)%, 04/01/2015	EUR		437		470
(0.270)%, 04/01/2015	SEK		1		—
(1.000)%, 04/01/2015	CHF		216		223
Total Time Deposits (Cost $82,295) ($ Thousands)					82,295
Total Investments — 103.0% (Cost $2,730,116) ($ Thousands)				$	2,917,108

8 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

A list of the open futures contracts held by the Fund at March 31, 2015, is as follows:

Type of Contract	Number of Contracts Long		Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
DJ Euro Stoxx 50 Index		868		Jun-2015	$	418
FTSE 100 Index		249		Jun-2015		(512	)
Hang Seng Index		28		Apr-2015		96
SPI 200 Index		75		Jun-2015		76
Topix Index		168		Jun-2015		201
					$	279

For the six months ended March 31, 2015, the total amount of all open futures contracts, as presented in the table above, are representative of the volume of activity for this derivative type during the six months.

Percentages are based on a Net Assets of $2,832,903 ($ Thousands).

* Non-income producing security.

** Rate shown is the 7-day effective yield as of March 31, 2015.

† Investment in Affiliated Security.

(1) In U.S. dollars unless otherwise indicated.

(A) Real Estate Investment Trust.

(B) This security or a partial position of this security is on loan at March 31, 2015. The total market value of securities on loan at March 31, 2015 was $81,582 ($ Thousands) (See Note 8).

(C) Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” These securities have been determined to be liquid under guidelines established by the Board of Trustees.

(D) Security, or portion thereof, has been pledged as collateral on open futures contracts.

(E) Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase.

(F) This security was purchased with cash collateral held from securities on loan (see Note 8). The total value of such securities as of March 31, 2015 was $87,518 ($ Thousands).

ADR — American Depositary Receipt

AUD — Australian Dollar

CAD — Canadian Dollar

CHF — Swiss Franc

Cl — Class

DJ — Dow Jones

DKK — Danish Krone

EUR — Euro

FTSE — Financial Times and the London Stock Exchange

GBP — British Pound Sterling

HKD — Hong Kong Dollar

JPY — Japanese Yen

L.P. — Limited Partnership

NOK — Norwegian Krone

NZD — New Zealand Dollar

SEK — Swedish Krone

Ser — Series

SGD — Singapore Dollar

SPI — Share Price Index

ZAR — South African Rand

The following is a list of the level of inputs used as of March 31, 2015, in valuing the Fund’s investments and other financial instruments carried at value ($ Thousands):

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	2,611,014	$	—	$	—	$	2,611,014
Preferred Stock		41,323		—		—		41,323
U.S. Treasury Obligation		—		14,006		—		14,006
Affiliated Partnership		—		87,518		—		87,518
Cash Equivalent		80,952		—		—		80,952
Time Deposits		—		82,295		—		82,295
Total Investments in Securities	$	2,733,289	$	183,819	$	—	$	2,917,108

Other Financial Instruments	Level 1			Level 2		Level 3		Total
Futures Contracts*
Unrealized Appreciation	$	791		$	—	$	—	$	791
Unrealized Depreciation		(512	)		—		—		(512	)
Total Other Financial Instruments	$	279		$	—	$	—	$	279

* Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For the six months ended March 31, 2015, there were no transfers between Level 1 and Level 2 assets and liabilities.

For the six months ended March 31, 2015, there were no transfers from Level 2 into Level 3 assets and liabilities.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 9

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Equity Fund

March 31, 2015

Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 91.9%
Argentina — 0.3%
Arcos Dorados Holdings, Cl A		320,900	$	1,582
MercadoLibre		20,500		2,512
YPF ADR		48,900		1,342
				5,436
Austria — 0.1%
Erste Group Bank		69,120		1,703
Brazil — 6.3%
ALL - America Latina Logistica		403,261		507
AMBEV		735,000		4,241
AMBEV ADR		853,992		4,919
B2W Cia Digital*		598,553		3,783
Banco Bradesco ADR		834,055		7,740
Banco do Brasil		348,180		2,507
Banco Santander Brasil ADR		508,215		2,241
BB Seguridade Participacoes		516,100		5,282
BR Malls Participacoes		93,900		499
Braskem ADR		222,510		1,544
BRF ADR		135,154		2,673
CCR		754,500		3,897
CETIP - Mercados Organizados		89,900		896
Cia Energetica de Minas Gerais ADR		217,306		889
Cia Paranaense de Energia ADR		24,910		261
Cielo		402,940		5,760
Cyrela Brazil Realty Empreendimentos e Participacoes		699,400		2,921
EcoRodovias Infraestrutura e Logistica		345,100		964
EDP - Energias do Brasil		151,400		494
Embraer		104,400		802
Embraer ADR		48,100		1,479
Estacio Participacoes		832,300		4,906
Fibria Celulose ADR*		172,185		2,433

Description	Shares		Market Value ($ Thousands)
Gerdau ADR		1,023,526	$	3,275
Gol Linhas Aereas Inteligentes ADR		517,245		1,257
Hypermarcas*		843,860		5,204
JBS		435,100		1,932
Klabin		269,300		1,539
Localiza Rent a Car		158,932		1,819
Lojas Renner		78,000		2,197
Mahle-Metal Leve		22,600		140
MRV Engenharia e Participacoes		248,700		620
Multiplus		54,600		572
Petroleo Brasileiro		82,822		249
Petroleo Brasileiro ADR		634,765		3,815
Porto Seguro		116,000		1,289
Qualicorp*		392,600		2,823
Raia Drogasil		97,500		871
Santos Brasil Participacoes		73,020		249
Sao Martinho		36,800		446
Telefonica Brasil ADR (A)		96,100		1,469
Tim Participacoes		256,300		852
Tim Participacoes ADR		377,700		6,262
Totvs		127,400		1,461
Vale		56,186		316
Vale ADR, Cl B		586,361		3,313
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao S.A		148,000		2,075
Via Varejo*		302,200		1,565
				107,248
Canada — 0.1%
SEMAFO*		429,718		1,296
Chile — 0.8%
Banco de Chile		24,559,500		2,757
Banco Santander Chile		57,582,622		3,139
Cia Cervecerias Unidas ADR (A)		161,491		3,353
SACI Falabella		344,490		2,640
Sociedad Quimica y Minera de Chile ADR		101,000		1,843
				13,732
China — 16.2%
AAC Technologies Holdings (A)		683,880		4,221
Agricultural Bank of China		29,618,432		14,670
Alibaba Group Holding ADR*		9,500		791
Anhui Conch Cement (A)		1,793,000		6,788
ANTA Sports Products		1,803,000		3,298
Baidu ADR*		132,624		27,639
Bank of China		24,200,105		13,984
BYD Electronic International		695,000		878
Changyou.com ADR*		118,900		3,078
China BlueChemical		878,000		335
China Child Care (A)		4,708,100		899

10 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description	Shares		Market Value ($ Thousands)
China CITIC Bank		1,486,000	$	1,119
China Construction Bank		21,232,993		17,637
China Life Insurance		1,117,000		4,891
China Merchants Bank		2,147,576		5,246
China National Materials (A)		8,425,438		2,380
China Oilfield Services		1,194,000		1,987
China Petroleum & Chemical		9,515,839		7,573
China Petroleum & Chemical ADR		8,400		669
China Shenhua Energy		846,500		2,162
China Telecom		978,000		627
China Vanke* (A)		2,933,124		6,961
Chongqing Rural Commercial Bank		2,726,612		1,769
CITIC Securities		592,000		2,195
Coolpad Group		7,480,000		1,302
Datang International Power Generation		1,510,000		773
Dongfeng Motor Group		1,450,000		2,327
Evergrande Real Estate Group (A)		8,831,000		4,454
Great Wall Motor		582,000		4,114
Guangzhou R&F Properties (A)		2,751,600		2,821
Huaneng Power International		3,980,000		4,713
Industrial & Commercial Bank of China		33,957,768		25,053
Jiangsu Expressway		2,826,000		3,798
Jiangxi Copper		1,253,000		2,330
Kingdee International Software Group* (A)		2,948,000		1,236
KWG Property Holding		1,737,370		1,232
New Oriental Education & Technology Group ADR*		292,300		6,480
Perfect World ADR		30,927		575
PetroChina		3,172,000		3,510
PetroChina ADR		52,768		5,868
PICC Property & Casualty		1,977,800		3,908
Ping An Insurance Group of China		741,500		8,914
Shanghai Electric Group		1,382,000		913
Shimao Property Holdings		422,500		888
SINA*		66,700		2,145
Sinopec Engineering Group		1,690,300		1,465
Sinotrans		768,000		441
SOHO China		2,051,028		1,397
Sohu.com*		99,800		5,322
Tencent Holdings		1,281,835		24,337
Tingyi Cayman Islands Holding		1,240,000		2,668
TravelSky Technology		233,000		268
Tsingtao Brewery		442,000		2,962
Uni-President China Holdings		5,375,400		3,557
WuXi PharmaTech Cayman ADR*		31,674		1,228

Description	Shares		Market Value ($ Thousands)
Youku Tudou ADR*		55,700	$	696
Zhejiang Expressway		3,704,000		4,911
Zhuzhou CSR Times Electric		1,202,800		7,897
				276,300
Colombia — 0.3%
Bancolombia ADR, Cl R		92,800		3,650
Ecopetrol		1,564,016		1,189
Grupo Argos		81,692		523
Pacific Rubiales Energy		237,576		567
				5,929
Czech Republic — 0.6%
CEZ		143,580		3,511
Komercni Banka		27,375		5,911
				9,422
Egypt — 0.1%
Commercial International Bank Egypt GDR		134,788		946
Hong Kong — 7.0%
Bolina Holding (A)		2,673,500		1,000
CAR*		341,000		647
Chaoda Modern Agriculture (B)		2,056,181		117
China Everbright		726,000		1,891
China Everbright International		4,213,500		7,054
China High Precision Automation Group (B) (C)		1,385,624		222
China Medical System Holdings		1,965,000		3,021
China Mengniu Dairy		1,320,915		7,019
China Minsheng Banking		1,411,100		1,724
China Mobile		1,896,741		24,758
China Mobile ADR		81,740		5,316
China Power International Development (A)		2,861,000		1,498
China State Construction International Holdings		7,915,984		11,027
China Taiping Insurance Holdings*		1,100,400		3,754
China Unicom Hong Kong ADR		101,690		1,552
CNOOC		7,323,107		10,352
CNOOC ADR		10,110		1,434
Far East Horizon		1,044,000		955
Galaxy Entertainment Group		484,400		2,205
GOME Electrical Appliances Holding (A)		9,371,000		1,354
Haier Electronics Group		2,410,000		6,310
Hua Hong Semiconductor* (D)		2,236,000		2,774
Lenovo Group		1,010,000		1,475
Melco Crown Entertainment ADR		89,200		1,914
Nine Dragons Paper Holdings		2,006,500		1,255
PAX Global Technology*		1,014,000		1,061

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 11

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Equity Fund (Continued)

March 31, 2015

Description	Shares		Market Value ($ Thousands)
Poly Property Group		1,355,000	$	659
Samsonite International		520,552		1,809
Shanghai Industrial Holdings		107,000		330
Sunny Optical Technology Group (A)		4,140,107		7,529
Techtronic Industries		2,113,000		7,140
Xinyi Glass Holdings		1,152,000		712
				119,868
Hungary — 0.1%
OTP Bank		40,266		765
Richter Gedeon Nyrt		109,462		1,510
				2,275
India — 7.4%
Adani Ports & Special Economic Zone		477,453		2,351
Aurobindo Pharma		381,711		7,451
Axis Bank		409,087		3,662
Bank of Baroda		1,454,691		3,800
Cairn India		838,870		2,866
Canara Bank		203,639		1,197
Cummins India		380,550		5,355
Dabur India		1,010,452		4,288
Glenmark Pharmaceuticals		607,897		7,636
HCL Technologies		165,484		2,592
HDFC Bank ADR		128,845		7,588
Housing Development Finance		44,756		941
ICICI Bank ADR		812,320		8,416
Idea Cellular		724,747		2,131
Indiabulls Housing Finance		215,603		1,922
Infosys ADR		29,272		1,027
Mahindra & Mahindra		34,337		652
NCC		1,157,415		2,072
Oil & Natural Gas		207,600		1,016
Oil India		59,070		429
Oriental Bank of Commerce		234,465		766
Power Finance		253,630		1,107
Power Grid Corp of India		1,598,934		3,711
Prestige Estates Projects		710,100		3,044
Reliance Capital		226,221		1,535
Reliance Industries		372,617		4,918
Reliance Industries GDR (D)		551,576		14,589
Rural Electrification		225,164		1,199
Sesa Sterlite		535,207		1,621
Shriram Transport Finance		265,568		4,729
Sintex Industries		220,349		425
SKS Microfinance*		184,962		1,353
Syndicate Bank		165,516		268
Tata Consultancy Services		8,433		344
Tata Global Beverages		1,210,725		2,879
Tata Motors, Cl A		667,550		3,537
Tata Motors ADR		62,495		2,816

Description	Shares		Market Value ($ Thousands)
Tata Steel		258,149	$	1,307
UCO Bank		543,854		555
UPL		401,778		2,839
Wipro ADR		142,168		1,894
WNS Holdings ADR*		11,629		283
Yes Bank		143,830		1,875
Zee Entertainment Enterprises		180,475		985
				125,971
Indonesia — 2.8%
AKR Corporindo		8,631,800		3,383
Astra International		2,037,800		1,336
Bank Mandiri		931,500		889
Bank Negara Indonesia Persero		2,982,200		1,648
Bank Rakyat Indonesia Persero		10,335,351		10,493
Gudang Garam		800,100		3,121
Indocement Tunggal Prakarsa		631,000		1,058
Kalbe Farma		15,041,000		2,145
Link Net*		5,800,400		2,651
Matahari Department Store		2,817,500		4,245
Matahari Putra Prima		2,831,900		858
Perusahaan Gas Negara Persero		4,534,900		1,665
Perusahaan Perkebunan London Sumatra Indonesia		2,177,800		288
Semen Indonesia Persero		4,245,900		4,433
Tambang Batubara Bukit Asam		1,571,300		1,292
Telekomunikasi Indonesia Persero		29,717,880		6,569
United Tractors		1,150,881		1,919
				47,993
Israel — 0.6%
Teva Pharmaceutical Industries ADR		159,700		9,949
Malaysia — 1.2%
AMMB Holdings		820,700		1,409
Astro Malaysia Holdings		1,066,800		922
Axiata Group		3,600,436		6,883
British American Tobacco Malaysia		41,451		768
Hong Leong Financial Group		56,400		258
IOI		513,100		636
IOI Properties Group		542,049		319
Malayan Banking		720,200		1,814
Petronas Chemicals Group		829,700		1,264
Sime Darby		821,800		2,057
Telekom Malaysia		979,976		1,924
UEM Sunrise		3,433,195		1,279
UMW Holdings		361,000		1,057
YTL		838,300		378
				20,968

12 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description	Shares		Market Value ($ Thousands)
Mexico — 4.9%
Alfa, Cl A* (A)		449,600	$	911
America Movil, Ser L		3,882,674		3,978
America Movil ADR, Ser L		279,652		5,722
Arca Continental*		534,200		3,289
Cemex ADR*		452,607		4,286
Coca-Cola Femsa ADR		8,092		646
Controladora Comercial Mexicana (A)		181,900		587
Empresas ICA ADR*		228,580		745
Fibra Uno Administracion (E)		1,398,100		3,708
Fomento Economico Mexicano*		184,000		1,722
Fomento Economico Mexicano ADR*		69,537		6,502
Genomma Lab Internacional, Cl B* (A)		1,292,900		1,209
Gentera* (A)		1,684,700		3,023
Gruma, Cl B		154,532		1,969
Grupo Financiero Banorte, Cl O		2,716,807		15,772
Grupo Financiero Santander Mexico ADR		218,078		2,381
Grupo Mexico, Ser B		1,564,000		4,618
Grupo Televisa*		75,600		500
Grupo Televisa ADR*		338,396		11,170
Infraestructura Energetica Nova		374,900		2,050
Inmobiliaria Vesta		1,973,700		3,654
Wal-Mart de Mexico		1,688,998		4,214
				82,656
Peru — 0.7%
Credicorp		87,991		12,374
Philippines — 1.2%
Aboitiz Equity Ventures		853,410		1,107
Alliance Global Group		1,204,488		714
Ayala		239,540		4,260
BDO Unibank		1,058,663		2,930
DMCI Holdings		1,085,550		377
International Container Terminal Services		1,488,334		3,596
Metropolitan Bank & Trust		88,100		192
RFM		10,338,900		1,224
SM Investments		158,520		3,190
SM Prime Holdings		4,998,500		2,234
				19,824
Poland — 0.7%
Asseco Poland		33,224		517
Energa		167,390		1,099
Eurocash (A)		249,244		2,152
KGHM Polska Miedz		34,120		1,080
PGE Polska Grupa Energetyczna		281,646		1,548
Polski Koncern Naftowy Orlen		152,621		2,385

Description	Shares		Market Value ($ Thousands)
Powszechna Kasa Oszczednosci Bank Polski		84,143	$	755
Powszechny Zaklad Ubezpieczen		9,046		1,167
Tauron Polska Energia		772,294		898
				11,601
Portugal — 0.1%
Jeronimo Martins (A)		151,170		1,900
Qatar — 0.1%
Barwa Real Estate		76,567		948
Russia — 4.4%
Etalon Group GDR		56,800		121
Gazprom ADR		1,214,122		5,733
Globaltrans Investment GDR		248,666		1,124
Lukoil ADR		276,608		12,705
Magnit GDR		128,591		6,565
Magnit PJSC GDR		15,700		801
Mail.ru Group GDR*		14,310		284
MegaFon GDR		136,020		2,176
MMC Norilsk Nickel ADR		186,264		3,309
Mobile TeleSystems ADR		177,587		1,794
NovaTek GDR		63,124		4,734
Phosagro GDR		30,133		347
QIWI ADR		143,888		3,456
Rosneft GDR		555,777		2,393
Sberbank of Russia ADR		1,400,454		6,120
Severstal GDR		174,931		1,964
Sistema GDR		55,343		410
Surgutneftegas ADR		146,322		894
Tatneft ADR (A)		81,692		2,434
TMK GDR		411,725		1,235
X5 Retail Group GDR* (A)		623,547		9,572
Yandex, Cl A*		453,000		6,870
				75,041
Singapore — 0.2%
Asian Pay Television Trust		5,272,400		3,421
China Yuchai International		27,469		542
				3,963
South Africa — 6.3%
Alexander Forbes Group Holdings*		5,052,249		4,295
Anglo American Platinum*		25,492		626
AngloGold Ashanti ADR		58,100		543
AVI		96,691		659
Barclays Africa Group		184,950		2,824
Barloworld		59,893		459
Bidvest Group (A)		249,769		6,776
Coronation Fund Managers		85,274		691

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 13

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Equity Fund (Continued)

March 31, 2015

Description	Shares		Market Value ($ Thousands)
Exxaro Resources		310,812	$	2,578
FirstRand		1,193,245		5,499
Foschini Group (A)		62,969		938
Investec		202,421		1,679
Kumba Iron Ore		23,295		300
Liberty Holdings		84,209		1,167
Life Healthcare Group Holdings		1,140,746		3,984
Mediclinic International		110,069		1,108
MMI Holdings		319,698		866
Mondi		91,891		1,758
MTN Group		678,066		11,472
Murray & Roberts Holdings		239,957		271
Nampak		338,723		1,138
Naspers, Cl N		54,031		8,339
Nedbank Group		99,081		1,944
Netcare		608,312		2,094
Redefine Properties (E)		2,221,362		2,273
Remgro		157,096		3,446
RMB Holdings		329,328		1,899
Sasol		204,785		6,966
Sasol ADR		57,175		1,946
Shoprite Holdings		198,456		2,691
Sibanye Gold ADR		88,629		756
SPAR Group		155,114		2,416
Standard Bank Group		698,527		9,686
Steinhoff International Holdings (A)		584,022		3,665
Telkom		107,522		703
Tongaat Hulett		19,087		212
Truworths International (A)		152,044		1,108
Tsogo Sun Holdings		575,569		1,311
Vodacom Group (A)		183,132		2,006
Woolworths Holdings		593,941		4,223
				107,315
South Korea — 12.3%
Chongkundang Holdings		1,449		89
Coway		133,399		11,002
Dongbu Insurance		33,611		1,498
Grand Korea Leisure		38,594		1,317
GS Engineering & Construction		28,756		783
GS Home Shopping		1,349		270
Halla Visteon Climate Control		119,342		4,131
Hanil Cement		1,745		287
Hanwha Life Insurance		212,146		1,409
Hyosung		11,642		910
Hyundai Marine & Fire Insurance		60,849		1,360
Hyundai Mobis		1,295		288
Hyundai Motor		68,943		10,471
Industrial Bank of Korea		81,464		980
Kangwon Land		67,459		2,107
KB Financial Group ADR		142,225		4,998
KCC		7,448		3,800

Description	Shares		Market Value ($ Thousands)
KH Vatec		51,667	$	1,488
Kia Motors		123,940		5,049
Korea Aerospace Industries		118,290		6,013
KT		26,140		683
KT ADR		206,890		2,706
KT&G		81,077		6,482
LF		16,119		461
LG		34,974		1,932
LG Display		47,280		1,334
LG Display ADR		204,740		2,930
LG Electronics		34,085		1,810
Lotte Chemical		11,391		2,089
Lotte Chilsung Beverage		2,921		4,536
Lotte Confectionery		2,421		3,893
LS Industrial Systems*		21,178		1,218
NAVER		6,922		4,186
NCSoft		28,652		4,687
NH Investment & Securities		111,546		1,448
Nong Shim		918		202
OCI Materials		11,808		1,006
POSCO		1,355		299
S-1, Cl 1		18,215		1,378
Samsung Electronics		45,918		59,640
Samsung Engineering		67,293		2,338
Samsung Life Insurance		56,269		4,904
SFA Engineering		78,193		3,834
Shinhan Financial Group		174,873		6,612
SK C&C		8,270		1,733
SK Hynix		141,432		5,807
SK Networks		185,265		1,363
SK Telecom		10,245		2,516
SK Telecom ADR		502,971		13,686
Sung Kwang Bend		121,240		1,486
Sungwoo Hitech		128,440		1,302
Vieworks		34,646		901
Wonik IPS*		97,770		978
				208,630
Spain — 0.2%
Cemex Latam Holdings*		520,980		2,708
Taiwan — 11.1%
Advanced Semiconductor Engineering		5,114,000		6,905
Asustek Computer		443,000		4,460
Catcher Technology		536,000		5,619
Cathay Financial Holding		3,641,337		5,819
Chailease Holding		307,120		766
Cheng Shin Rubber Industry		260,000		597
Chicony Electronics		547,926		1,537
China Development Financial Holding		4,202,000		1,457
China Motor		585,000		507
China Steel Chemical		381,800		1,812

14 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description	Shares		Market Value ($ Thousands)
Chipbond Technology		894,000	$	1,889
Compal Electronics		1,902,000		1,583
CTCI		528,000		871
Delta Electronics		473,000		2,985
Eclat Textile		243,000		3,196
eMemory Technology		288,300		3,137
Evergreen Marine Taiwan		2,019,000		1,500
Far Eastern Department Stores		1,098,000		928
Farglory Land Development		201,043		232
Fubon Financial Holding		1,872,000		3,362
Hermes Microvision		75,200		4,338
Hiwin Technologies		362,078		2,679
Hon Hai Precision Industry		2,360,207		6,909
Hu Lane Associate		182,600		843
Inventec		2,156,000		1,561
King Yuan Electronics		616,000		560
King’s Town Bank		692,000		662
Kinsus Interconnect Technology		211,000		678
Lite-On Technology		3,863,917		5,007
Makalot Industrial		286,000		2,057
MediaTek		1,220,500		16,519
Merida Industry		235,050		1,848
Mitac Holdings		2,795,000		2,171
PChome Online		138,504		1,802
Pegatron		1,567,000		4,242
Pixart Imaging		147,000		491
Pou Chen		568,000		795
Powertech Technology		353,000		608
President Chain Store		318,652		2,398
Quanta Computer		1,767,000		4,269
Radiant Opto-Electronics		1,261,050		3,925
Realtek Semiconductor		1,093,173		3,494
Simplo Technology		172,000		866
Taishin Financial Holding		5,146,481		2,188
Taiwan Cement		3,490,000		4,919
Taiwan Semiconductor Manufacturing		8,504,798		48,010
Teco Electric and Machinery		1,660,000		1,581
Transcend Information		272,000		965
Tung Thih Electronic		677,600		2,750
United Microelectronics		1,488,000		737
United Microelectronics ADR		1,407,800		3,435
Vanguard International Semiconductor		1,181,000		2,008
Wistron		1,842,000		1,566
Wistron NeWeb		198,900		457
WPG Holdings		1,858,000		2,393
				188,893
Thailand — 1.8%
Advanced Info Service		221,600		1,614
Airports of Thailand		243,800		2,098
Bangkok Bank Foreign		654,100		3,729
Bangkok Dusit Medical Services		2,282,000		1,381

Description	Shares		Market Value ($ Thousands)
Bangkok Dusit Medical Services, Cl F (A)		1,208,600	$	732
Bangkok Expressway		148,400		178
CP ALL		1,809,400		2,280
CP Seven Eleven PCL (A)		399,900		504
Delta Electronics Thailand		183,700		425
Kiatnakin Bank		503,744		604
Krung Thai Bank NVDR		3,373,300		2,363
PTT		428,450		4,253
PTT Global Chemical		1,473,900		2,367
Ratchaburi Electricity Generating Holding		269,800		508
Siam Cement		122,400		1,926
Siam Commercial Bank (A)		294,200		1,609
Thai Union Frozen Products		2,529,600		1,562
Thanachart Capital		1,825,200		1,949
VGI Global Media (A)		6,623,848		1,109
				31,191
Turkey — 2.6%
Akbank		478,242		1,409
Anadolu Efes Biracilik Ve Malt Sanayii		229,485		1,918
Arcelik		483,500		2,793
Aselsan Elektronik Sanayi Ve Ticaret		833,453		3,948
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret		158,566		151
Emlak Konut Gayrimenkul Yatirim Ortakligi (E)		8,484,759		9,640
Eregli Demir ve Celik Fabrikalari		1,832,126		2,851
Ford Otomotiv Sanayi		239,096		3,089
KOC Holding		185,960		849
Pegasus Hava Tasimaciligi*		44,732		418
TAV Havalimanlari Holding		471,838		3,952
Tofas Turk Otomobil Fabrikasi		512,959		3,112
Tupras Turkiye Petrol Rafinerileri		31,118		739
Turk Hava Yollari*		227,992		754
Turk Telekomunikasyon		372,540		990
Turkcell Iletisim Hizmetleri ADR		170,935		2,227
Turkiye Garanti Bankasi		816,835		2,684
Turkiye Halk Bankasi		440,510		2,180
Turkiye Is Bankasi, Cl C		613,119		1,386
				45,090
United Arab Emirates — 0.4%
Abu Dhabi Commercial Bank		560,791		988
Air Arabia*		1,374,337		531
Dragon Oil		415,208		3,677
Dubai Islamic Bank		727,218		1,228
Union National Bank		145,237		223
				6,647

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 15

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Equity Fund (Concluded)

March 31, 2015

Description	Shares		Market Value ($ Thousands)
United Kingdom — 0.6%
Anglo American ADR		80,640	$	601
Hikma Pharmaceuticals		97,380		3,079
Investec		189,258		1,576
SABMiller		83,755		4,397
				9,653
United States — 0.4%
First Cash Financial Services*		37,400		1,740
Freeport-McMoRan		240,100		4,550
				6,290
Total Common Stock (Cost $1,598,510) ($ Thousands)				1,563,760
EXCHANGE TRADED FUNDS — 3.4%
United States — 3.4%
iPath MSCI India Index ETN		123,029		9,119
iShares Core MSCI Emerging Markets ETF		290,000		14,016
iShares MSCI Emerging Markets ETF		649,753		26,074
iShares MSCI India ETF		287,700		9,232
Total Exchange Traded Funds (Cost $56,643) ($ Thousands)				58,441
PREFERRED STOCK — 1.7%
Brazil — 1.6%
Banco do Estado do Rio Grande do Sul		362,000		1,258
Bradespar		334,200		1,105
Centrais Eletricas Brasileiras		174,500		375
Cia Energetica de Sao Paulo, Cl B		291,500		2,171
Cia Paranaense de Energia		50,700		531
Itau Unibanco Holding		638,742		7,079
Itau Unibanco Holding ADR		400,095		4,425
Itausa - Investimentos Itau		40,889		128
Marcopolo		1,477,100		1,068
Metalurgica Gerdau, Cl A		332,560		1,136
Petroleo Brasileiro		177,516		544
Petroleo Brasileiro ADR, Cl A		450,866		2,746
Suzano Papel e Celulose, Cl A		427,900		1,982
Vale, Cl A		417,885		2,024
				26,572
Colombia — 0.0%
Banco Davivienda		85,698		835

Description		Shares/Number of Warrants Face Amount (1) (Thousands)		Market Value ($ Thousands)
South Korea — 0.1%
Samsung Electronics			929	$	924
Total Preferred Stock (Cost $49,366) ($ Thousands)					28,331
WARRANTS — 0.2%
Fuyao Glass Industry Group, Expires 11/25/15*			781,981		2,105
Huangshan Tourism Development, Expires 12/09/19*			301,200		932
Shanghai Jahwa United, Expires 03/20/20*			104,085		708
Total Warrants (Cost $3,151) ($ Thousands)					3,745
DEBENTURE BOND — 0.0%
Brazil — 0.0%
Vale, Ser 1997
0.000%, 09/30/2049 (F)	BRL		8		—
Total Debenture Bond (Cost $—) ($ Thousands)					—
AFFILIATED PARTNERSHIP — 3.0%
SEI Liquidity Fund, L.P.
0.070%†** (G)			50,949,879		50,950
Total Affiliated Partnership (Cost $50,950) ($ Thousands)					50,950
CASH EQUIVALENT — 1.0%
SEI Daily Income Trust, Prime Obligation Fund, Cl A
0.010%†**			17,063,570		17,064
Total Cash Equivalent (Cost $17,064) ($ Thousands)					17,064
TIME DEPOSITS — 2.1%
Brown Brothers Harriman
4.800%, 04/01/2015	ZAR		6,808		562
0.350%, 04/01/2015	NOK		—		—
0.100%, 04/01/2015	CAD		22		18
0.074%, 04/01/2015	GBP		—		—
0.030%, 04/01/2015			34,421		34,421
0.005%, 04/01/2015	SGD		—		—
0.005%, 04/01/2015	HKD		508		65
(0.198)%, 04/01/2015	EUR		35		38
(0.270)%, 04/01/2015	SEK		—		—
Total Time Deposits (Cost $35,104) ($ Thousands)					35,104
Total Investments — 103.3% (Cost $1,810,788) ($ Thousands)				$	1,757,395

16 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Percentages are based on a Net Assets of $1,700,599 ($ Thousands).

* Non-income producing security.

** Rate shown is the 7-day effective yield as of March 31, 2015.

† Investment in Affiliated Security.

(1) In U.S. dollars unless otherwise indicated.

(A) This security or a partial position of this security is on loan at March 31, 2015. The total market value of securities on loan at March 31, 2015 was $45,795 ($ Thousands) (See Note 8).

(B) Securities considered illiquid. The total market value of such securities as of March 31, 2015 was $339 ($ Thousands) and represented 0.0% of Net Assets.

(C) Security fair valued using methods determined in good faith by the Valuation Committee of the Board of Trustees. The total market value of such securities as of March 31, 2015 was $222 ($ Thousands) and represented 0.0% of Net Assets.

(D) Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” These securities have been determined to be liquid under guidelines established by the Board of Trustees.

(E) Real Estate Investment Trust.

(F) Variable Rate Security — The rate reported on the Schedule of Investments is the rate in effect as of March 31, 2015.

(G) This security was purchased with cash collateral held from securities on loan (see Note 8). The total value of such securities as of March 31, 2015 was $50,950 ($ Thousands).

ADR — American Depositary Receipt

BRL — Brazilian Real

CAD — Canadian Dollar

Cl — Class

ETF — Exchange Traded Fund

ETN — Exchange Traded Note

EUR — Euro

GBP — British Pound Sterling

GDR — Global Depositary Receipt

HKD — Hong Kong Dollar

L.P. — Limited Partnership

MSCI — Morgan Stanley Capital International

NOK — Norwegian Krone

NVDR — Non-Voting Depositary Receipt

SEK — Swedish Krona

Ser — Series

SGD — Singapore Dollar

ZAR — South African Rand

The following is a list of the level of inputs used as of March 31, 2015, in valuing the Fund’s investments carried at value ($ Thousands):

Investments in Securities	Level 1		Level 2		Level  3(1)		Total
Common Stock	$	1,563,421	$	—	$	339	$	1,563,760
Exchange Traded Funds		58,441		—		—		58,441
Preferred Stock		28,331		—		—		28,331
Warrants		3,745		—		—		3,745
Debenture Bond		—		—		—		—
Affiliated Partnership		—		50,950		—		50,950
Cash Equivalent		17,064		—		—		17,064
Time Deposits		—		35,104		—		35,104
Total Investments in Securities	$	1,671,002	$	86,054	$	339	$	1,757,395

(1) A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets.

For the six months ended March 31, 2015, there were no transfers between Level 2 and Level 3 assets and liabilities.

For the six months ended March 31, 2015, there were no transfers between Level 2 and Level 3 assets and liabilities.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 17

SCHEDULE OF INVESTMENTS (Unaudited)

International Fixed Income Fund

March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS — 93.0%
Australia — 1.9%
Aurizon Network MTN
2.000%, 09/18/2024	EUR		300	$	336
Australia & New Zealand Banking Group MTN
3.625%, 07/18/2022	EUR		300		396
Commonwealth Bank of Australia
1.375%, 01/22/2019	EUR		560		630
Glencore Australia Holdings MTN
4.500%, 09/19/2019			900		711
Government of Australia
4.500%, 04/21/2033			135		129
3.750%, 04/21/2037			845		744
3.250%, 04/21/2025			2,500		2,067
2.750%, 04/21/2024			1,485		1,178
Government of Australia, Ser 122
5.250%, 03/15/2019			2,400		2,078
Government of Australia, Ser 124
5.750%, 05/15/2021			1,300		1,208
Queensland Treasury, Ser 17
6.000%, 09/14/2017			780		654
Westpac Banking MTN
1.500%, 03/24/2021	EUR		220		252
1.375%, 04/17/2020	EUR		230		261
					10,644
Austria — 0.5%
Republic of Austria
4.150%, 03/15/2037			55		101
3.650%, 04/20/2022			290		388
3.200%, 02/20/2017			600		686
3.150%, 06/20/2044			150		262

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
1.950%, 06/18/2019			280	$	326
1.650%, 10/21/2024			225		272
					2,035
Belgium — 0.7%
Kingdom of Belgium
3.750%, 06/22/2045			338		618
3.000%, 06/22/2034			350		518
2.600%, 06/22/2024			715		924
1.000%, 06/22/2031			710		787
Kingdom of Belgium, Ser 44
5.000%, 03/28/2035			150		284
Kingdom of Belgium, Ser 58
3.750%, 09/28/2020			231		299
Kingdom of Belgium, Ser 69
1.250%, 06/22/2018			545		611
					4,041
Brazil — 0.9%
Braskem Finance
6.450%, 02/03/2024	USD		300		289
Brazil Letras do Tesouro Nacional
12.745%, 01/01/2016 (A)			12,430		3,535
BRF
3.950%, 05/22/2023 (B)	USD		410		381
Cosan
5.000%, 03/14/2023 (B)	USD		240		213
Raizen Energy Finance
7.000%, 02/01/2017 (B)	USD		270		287
Vale Overseas
6.875%, 11/21/2036	USD		50		48
					4,753
Canada — 4.1%
Bell Canada MTN
5.000%, 02/15/2017			270		227
4.700%, 09/11/2023			80		72
3.350%, 06/18/2019			29		24
3.250%, 06/17/2020			95		79
Bombardier
6.000%, 10/15/2022 (B)	USD		310		291
Canada Housing Trust No. 1
4.100%, 12/15/2018			1,390		1,225
CDP Financial
4.400%, 11/25/2019 (B)	USD		850		946
Government of Canada
5.750%, 06/01/2033			1,025		1,299
5.000%, 06/01/2037			1,300		1,594
4.250%, 12/01/2021			605		648
4.000%, 06/01/2041			1,035		1,154
3.500%, 12/01/2045			85		90
2.500%, 06/01/2024			2,660		2,328

18 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
2.000%, 06/01/2016			3,485	$	2,799
1.750%, 09/01/2019			1,000		826
1.500%, 09/01/2017			1,030		833
Muskrat Falls
3.630%, 06/01/2029			340		317
National Bank of Canada
1.500%, 03/25/2021	EUR		257		296
NOVA Chemicals
5.250%, 08/01/2023 (B)	USD		150		157
Province of British Columbia
3.250%, 12/18/2021			1,150		1,011
2.250%, 03/01/2019			575		477
Province of Manitoba Canada
3.850%, 12/01/2021			710		642
Province of Ontario Canada
3.500%, 06/02/2024			1,200		1,067
3.450%, 06/02/2045			245		218
3.150%, 06/02/2022			2,000		1,737
Province of Quebec Canada
3.500%, 12/01/2045			145		129
3.000%, 09/01/2023			500		429
Quebecor Media
5.750%, 01/15/2023	USD		128		132
Rogers Communications
4.000%, 06/06/2022			165		143
TransCanada PipeLines
2.500%, 08/01/2022	USD		300		293
Yamana Gold
4.950%, 07/15/2024	USD		324		319
					21,802
Chile — 0.2%
Empresa de Transporte de Pasajeros Metro
4.750%, 02/04/2024 (B)	USD		390		419
ENTEL Chile
4.875%, 10/30/2024	USD		380		396
					815
China — 0.1%
Tencent Holdings MTN
3.375%, 05/02/2019 (B)	USD		390		404
Colombia — 0.0%
Ecopetrol
7.375%, 09/18/2043	USD		121		132
5.875%, 05/28/2045	USD		109		101
					233
Czech Republic — 0.1%
Government of Czech Republic
4.700%, 09/12/2022			1,500		78
3.875%, 05/24/2022	EUR		50		67

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Government of Czech Republic, Ser 51
4.000%, 04/11/2017			8,050	$	339
					484
Denmark — 1.3%
Danske Bank
5.375%, 09/29/2021 (C)	GBP		170		269
3.875%, 10/04/2023 (C)	EUR		150		175
3.500%, 04/16/2018	EUR		155		184
DONG Energy MTN
5.750%, 04/09/2040	GBP		200		399
Kingdom of Denmark
4.500%, 11/15/2039			1,300		352
4.000%, 11/15/2017			1,600		257
3.000%, 11/15/2021			21,800		3,753
1.500%, 11/15/2023			670		107
0.100%, 11/15/2023			5,756		901
TDC MTN
3.750%, 03/02/2022	EUR		200		252
					6,649
Finland — 0.2%
Elisa MTN
2.250%, 10/04/2019			300		342
Government of Finland
2.625%, 07/04/2042			55		89
1.500%, 04/15/2023			340		403
Nordea Bank Finland MTN
2.375%, 07/17/2017			190		215
2.250%, 05/03/2019			170		199
					1,248
France — 6.9%
ALD International MTN
2.000%, 05/26/2017			500		554
Arkema MTN
3.850%, 04/30/2020			200		248
1.500%, 01/20/2025			300		327
AXA MTN
5.625%, 01/16/2054 (C)	GBP		302		506
Banque Federative du Credit Mutuel MTN
2.000%, 09/19/2019			400		457
Banque PSA Finance MTN
4.000%, 06/24/2015			450		487
BNP Paribas
5.019%, 12/31/2049 (C)			100		113
4.730%, 04/12/2049 (C)			200		221
BNP Paribas Home Loan SFH MTN
3.125%, 03/22/2022			200		257
BPCE MTN
5.250%, 04/16/2029	GBP		100		168

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 19

SCHEDULE OF INVESTMENTS (Unaudited)

International Fixed Income Fund (Continued)

March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
4.500%, 03/15/2025 (B)	USD		215	$	218
1.375%, 05/22/2019			200		222
BPCE SFH
1.750%, 11/29/2019			600		694
1.500%, 01/30/2020			400		458
1.000%, 02/24/2025			200		225
Bureau Veritas
3.125%, 01/21/2021			100		118
Caisse Centrale du Credit Immobilier de France MTN
1.125%, 04/22/2019			100		112
Caisse de Refinancement de l’Habitat
3.900%, 01/18/2021			115		150
3.750%, 12/12/2016			400		457
3.500%, 04/25/2017			350		403
Caisse Francaise de Financement Local MTN
4.875%, 07/03/2017			220		262
3.750%, 05/18/2016			225		252
3.625%, 02/26/2018			63		75
Christian Dior
1.375%, 06/19/2019			300		330
Cie de Financement Foncier MTN
4.875%, 05/25/2021			290		400
4.625%, 09/23/2017			575		688
Cie de Saint-Gobain MTN
3.500%, 09/30/2015			550		600
Coface
4.125%, 03/27/2024			200		248
Credit Agricole MTN
2.375%, 11/27/2020			600		703
Credit Agricole Home Loan SFH MTN
3.250%, 03/23/2017			100		114
2.875%, 09/09/2016			300		335
Dexia Credit Local MTN
2.000%, 01/22/2021			200		235
1.625%, 10/29/2018			565		639
1.375%, 09/18/2019			500		565
Electricite de France MTN
6.500%, 01/26/2019 (B)	USD		250		292
4.500%, 11/12/2040			250		428
Eurofins Scientific
2.250%, 01/27/2022			200		219
French Treasury Note
1.000%, 07/25/2017			850		937
Government of France
4.750%, 04/25/2035			185		339
4.500%, 04/25/2041			220		425
4.000%, 10/25/2038			285		501
3.750%, 10/25/2019			1,225		1,542
3.250%, 05/25/2045			820		1,365

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
2.500%, 05/25/2030			1,440	$	1,928
2.250%, 05/25/2024			1,515		1,899
1.750%, 11/25/2024			1,170		1,413
1.000%, 11/25/2018			575		642
1.000%, 05/25/2019			3,215		3,600
0.500%, 11/25/2019			2,040		2,242
HSBC SFH France MTN
2.000%, 10/16/2023			700		852
Iliand
4.875%, 06/01/2016			300		337
Orange MTN
5.000%, 10/20/2049 (C)			325		398
Publicis Groupe
1.125%, 12/16/2021			600		655
RCI Banque MTN
5.625%, 10/05/2015			500		551
Renault MTN
3.625%, 09/19/2018			450		527
Sanofi MTN
2.500%, 11/14/2023			200		245
Societe Generale MTN
5.750%, 04/20/2016 (B)	USD		111		116
5.200%, 04/15/2021 (B)	USD		225		257
3.875%, 12/17/2015	GBP		100		151
Societe Generale SFH MTN
3.250%, 06/06/2016			400		446
Unibail-Rodamco MTN
2.375%, 02/25/2021 (D)			500		589
Veolia Environnement MTN
4.625%, 03/30/2027			200		289
Wendel
5.875%, 09/17/2019			800		1,042
2.500%, 02/09/2027			300		334
					36,402
Germany — 7.8%
Bundesobligation
0.500%, 02/23/2018			1,400		1,535
0.000%, 04/17/2020 (A)			1,605		1,733
Bundesrepublik Deutschland
4.750%, 09/20/2033			490		829
4.000%, 01/04/2037			625		1,149
2.500%, 07/04/2044			3,710		6,036
2.250%, 09/04/2021			2,000		2,466
1.500%, 05/15/2023			700		841
1.500%, 05/15/2024			4,100		4,950
1.000%, 08/15/2024			6,250		7,237
Bundesrepublik Deutschland, Ser 00
5.500%, 01/04/2031			755		1,439
Bundesrepublik Deutschland, Ser 03
4.750%, 07/04/2034			795		1,523

20 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Bundesschatzanweisungen
0.000%, 06/12/2015 (A)			4,550	$	4,889
Continental MTN
3.125%, 09/09/2020			600		724
Deutsche Bank
1.250%, 09/08/2021			1,000		1,094
Deutsche Bundesrepublik Inflation Linked Bond
0.100%, 04/15/2023			712		844
Deutsche Telekom International Finance MTN
7.375%, 12/04/2019	GBP		200		372
E.ON International Finance MTN
6.000%, 10/30/2019	GBP		300		528
Infineon Technologies
1.500%, 03/10/2022			150		162
1.000%, 09/10/2018			100		108
KFW
3.875%, 01/21/2019			575		711
3.375%, 08/30/2017	CHF		370		418
Linde Finance MTN
3.875%, 06/01/2021			450		584
Muenchener Rueckversicherungs MTN
6.250%, 05/26/2042 (C)			200		277
ProSiebenSat.1 Media
2.625%, 04/15/2021			300		344
Unitymedia Hessen GmbH & KG
3.500%, 01/15/2027			200		215
Vier Gas Transport GmbH MTN
2.875%, 06/12/2025			200		251
					41,259
Hong Kong — 0.2%
Hutchison Whampoa Finance 14
1.375%, 10/31/2021	EUR		935		1,025
Indonesia — 0.2%
Indonesia Government International Bond MTN
2.875%, 07/08/2021	EUR		730		825
Ireland — 1.7%
AIB Mortgage Bank MTN
2.625%, 07/29/2016			400		444
Allied Irish Banks MTN
2.875%, 11/28/2016			400		443
Aquarius and Investments for Zurich Insurance MTN
4.250%, 10/02/2043 (C)			100		126

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Bank of Ireland MTN
3.250%, 01/15/2019			150	$	173
2.750%, 06/05/2016			250		274
1.781%, 09/22/2015 (B) (C)	CAD		205		157
1.250%, 04/09/2020			600		640
Bank of Ireland Mortgage Bank
1.750%, 03/19/2019			450		513
CRH Finland Services MTN
2.750%, 10/15/2020			350		411
FGA Capital Ireland MTN
2.875%, 01/26/2018			210		237
2.625%, 04/17/2019			350		397
GE Capital UK Funding MTN
4.375%, 07/31/2019	GBP		400		659
Ireland Government Bond
5.400%, 03/13/2025			1,630		2,526
4.500%, 10/18/2018			345		429
4.500%, 04/18/2020			450		586
2.000%, 02/18/2045			950		1,167
					9,182
Israel — 0.0%
Israel Government Bond
4.250%, 03/31/2023			750		230
Italy — 9.1%
Banca Monte dei Paschi di Siena
5.000%, 02/09/2018			230		279
4.875%, 09/15/2016			700		800
Banco Popolare SC MTN
3.500%, 03/14/2019			350		398
Buoni Poliennali Del Tesoro
4.000%, 02/01/2037			720		1,051
Edison MTN
3.875%, 11/10/2017			600		702
Eni MTN
3.625%, 01/29/2029			600		808
Intesa Sanpaolo MTN
5.250%, 01/12/2024	USD		375		422
5.017%, 06/26/2024 (B)	USD		200		205
4.875%, 07/10/2015			300		326
4.000%, 11/09/2017			368		430
3.928%, 09/15/2026			550		650
1.125%, 01/14/2020			1,100		1,191
1.125%, 03/04/2022			200		214
Italy Buoni Poliennali Del Tesoro
5.500%, 09/01/2022			400		567
5.500%, 11/01/2022			135		192
5.000%, 03/01/2025			480		696
5.000%, 08/01/2034			1,855		3,001
4.750%, 09/01/2021			3,250		4,338

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 21

SCHEDULE OF INVESTMENTS (Unaudited)

International Fixed Income Fund (Continued)

March 31, 2015

Description	Face Amount (1) (Thousands)		Market Value ($ Thousands)
4.750%, 09/01/2044		355	$	608
4.500%, 02/01/2020		570		727
4.500%, 05/01/2023		1,035		1,407
4.500%, 03/01/2024		6,700		9,213
4.000%, 09/01/2020		1,555		1,967
3.750%, 09/01/2024		1,425		1,872
3.500%, 11/01/2017		2,161		2,515
3.500%, 03/01/2030		1,390		1,868
2.350%, 09/15/2024		493		647
2.250%, 04/22/2017		4,342		4,868
1.500%, 08/01/2019		1,905		2,135
1.350%, 04/15/2022		795		878
1.150%, 05/15/2017		2,135		2,339
Telecom Italia MTN
4.500%, 01/25/2021		400		482
Unione di Banche Italiane MTN
4.500%, 02/22/2016		200		223
				48,019
Japan — 19.4%
Government of Japan
0.100%, 09/10/2024		328,004		2,955
Government of Japan 5 Year Bond
0.300%, 09/20/2015		724,100		6,047
0.300%, 09/20/2018		1,063,600		8,936
Government of Japan 5 Year Bond, Ser 106
0.200%, 09/20/2017		850,000		7,113
Government of Japan 10 Year Bond
0.800%, 09/20/2023		887,600		7,715
0.600%, 03/20/2024		629,300		5,374
Government of Japan 10 Year Bond, Ser 301
1.500%, 06/20/2019		85,300		753
Government of Japan 10 Year Bond, Ser 308
1.300%, 06/20/2020		295,600		2,613
Government of Japan 10 Year Bond, Ser 313
1.300%, 03/20/2021		750,000		6,679
Government of Japan 20 Year Bond
1.700%, 06/20/2033		444,850		4,136
1.400%, 09/20/2034		454,700		3,989
Government of Japan 20 Year Bond, Ser 106
2.200%, 09/20/2028		110,900		1,110
Government of Japan 20 Year Bond, Ser 112
2.100%, 06/20/2029		249,200		2,468
Government of Japan 20 Year Bond, Ser 128
1.900%, 06/20/2031		55,000		531

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Government of Japan 20 Year Bond, Ser 140
1.700%, 09/20/2032			34,850	$	325
Government of Japan 20 Year Bond, Ser 143
1.600%, 03/20/2033			298,400		2,738
Government of Japan 20 Year Bond, Ser 144
1.500%, 03/20/2033			146,650		1,326
Government of Japan 20 Year Bond, Ser 55
2.000%, 03/21/2022			257,000		2,413
Government of Japan 20 Year Bond, Ser 99
2.100%, 12/20/2027			459,650		4,542
Government of Japan 30 Year Bond, Ser 30
2.300%, 03/20/2039			322,500		3,258
Government of Japan 30 Year Bond, Ser 33
2.000%, 09/20/2040			577,000		5,543
Government of Japan 30 Year Bond, Ser 34
2.200%, 03/20/2041			30,000		299
Government of Japan 30 Year Bond, Ser 36
2.000%, 03/20/2042			94,450		909
Government of Japan 30 Year Bond, Ser 38
1.800%, 03/20/2043			227,200		2,099
Government of Japan 30 Year Bond, Ser 44
1.700%, 09/20/2044			116,750		1,054
Government of Japan 40 Year Bond, Ser 6
1.900%, 03/20/2053			20,000		188
Japan Treasury Discount Bills
0.000%, 04/20/2015 (A)			500,000		4,169
0.000%, 04/27/2015 (A)			400,000		3,335
0.000%, 05/07/2015 (A)			160,000		1,334
0.000%, 05/18/2015 (A)			410,000		3,419
0.000%, 06/15/2015 (A)			350,000		2,918
0.000%, 06/22/2015 (A)			60,000		500
Mizuho Financial Group Cayman 3
4.600%, 03/27/2024	USD		306		329
SMFG Preferred Capital
10.231%, 01/25/2029 (C)	GBP		575		1,322
					102,439
Malaysia — 0.2%
Malaysia Government Bond
5.734%, 07/30/2019			1,500		439

22 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
3.955%, 09/15/2025			1,135	$	309
3.418%, 08/15/2022			445		117
					865
Mexico — 0.8%
Mexican Bonos
8.000%, 06/11/2020			12,606		925
7.750%, 11/13/2042			16,680		1,269
Mexican Bonos, Ser M
6.500%, 06/10/2021			5,356		368
Mexican Bonos, Ser M20
10.000%, 12/05/2024			10,871		927
Petroleos Mexicanos
3.500%, 01/30/2023	USD		425		415
United Mexican States MTN
1.625%, 03/06/2024	EUR		416		450
					4,354
Morocco — 0.1%
OCP
5.625%, 04/25/2024	USD		390		424
Netherlands — 5.3%
ABN AMRO Bank MTN
6.375%, 04/27/2021			245		334
4.310%, 03/29/2049 (C)			155		169
Achmea MTN
2.500%, 11/19/2020			625		729
Achmea Bank MTN
2.750%, 02/18/2021			150		177
2.375%, 02/08/2016			275		301
Akzo Nobel MTN
8.000%, 04/06/2016	GBP		205		326
ASML Holding
3.375%, 09/19/2023			450		575
Bharti Airtel International
4.000%, 12/10/2018			270		315
Coco-Cola HBC Finance
2.375%, 06/18/2020			750		858
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA
5.500%, 01/22/2049 (C)			600		676
2.500%, 05/26/2026 (C)			260		289
Delta Lloyd MTN
4.375%, 06/29/2049 (C)			200		214
Deutsche Annington Finance MTN
2.125%, 07/09/2022			177		203
EDP Finance MTN
2.625%, 01/18/2022			440		501
Geberit International
0.688%, 03/30/2021			1,100		1,187

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Generali Finance MTN
4.596%, 11/30/2049 (C)			550	$	620
Heineken MTN
2.125%, 08/04/2020			200		231
ING Bank MTN
5.800%, 09/25/2023 (B)	USD		375		425
3.375%, 03/23/2017			125		143
Kingdom of Netherlands
4.000%, 01/15/2037			300		549
3.750%, 01/15/2042			60		115
3.500%, 07/15/2020			2,825		3,600
3.250%, 07/15/2021			705		910
2.750%, 01/15/2047			2,350		3,985
2.250%, 07/15/2022			1,255		1,556
2.000%, 07/15/2024			625		778
1.750%, 07/15/2023			2,130		2,577
1.750%, 07/15/2023 (E)			1,250		1,512
1.250%, 01/15/2019			770		870
NN Group
4.625%, 04/08/2044 (C)			825		997
Schaeffler Finance
7.750%, 02/15/2017			235		286
Shell International Finance
2.250%, 01/06/2023	USD		825		807
2.000%, 11/15/2018	USD		560		570
TenneT Holding
2.125%, 11/01/2020			350		408
Wuerth Finance International MTN
1.750%, 05/21/2020			150		171
					27,964
New Zealand — 0.2%
Government of New Zealand
5.500%, 04/15/2023			320		278
5.000%, 03/15/2019			435		349
Westpac Securities MTN
0.875%, 06/24/2019	EUR		100		110
					737
Norway — 0.4%
DNB Bank
6.012%, 01/29/2049 (C)	GBP		150		233
Eksportfinans
2.375%, 05/25/2016	USD		200		201
2.000%, 09/15/2015	USD		20		20
Government of Norway
4.500%, 05/22/2019			2,325		329
2.000%, 05/24/2023			645		84
Kommunalbanken MTN
1.000%, 03/15/2018 (B)	USD		800		796
SpareBank 1 Boligkreditt MTN
2.375%, 11/22/2016	EUR		170		189

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 23

SCHEDULE OF INVESTMENTS (Unaudited)

International Fixed Income Fund (Continued)

March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Yara International
7.875%, 06/11/2019 (B)	USD		185	$	220
					2,072
Poland — 0.3%
Republic of Poland
5.250%, 01/20/2025	EUR		85		130
5.125%, 04/21/2021	USD		135		155
4.000%, 10/25/2023			300		90
2.500%, 07/25/2018			710		192
Republic of Poland, Ser 1019
5.500%, 10/25/2019			1,475		450
Republic of Poland, Ser 1021
5.750%, 10/25/2021			3,490		1,129
					2,146
Portugal — 0.2%
Caixa Geral de Depositos MTN
3.000%, 01/15/2019			300		354
Portugal Obrigacoes do Tesouro OT
3.875%, 02/15/2030			215		284
					638
Romania — 0.0%
Romanian Government International Bond MTN
4.625%, 09/18/2020	EUR		40		50
3.625%, 04/24/2024	EUR		20		25
					75
Singapore — 0.2%
Government of Singapore
4.000%, 09/01/2018			495		390
3.125%, 09/01/2022			275		213
Temasek Financial I MTN
2.375%, 01/23/2023 (B)	USD		495		492
					1,095
Slovak Republic — 0.0%
Slovakia Government Bond
3.375%, 11/15/2024			110		151
South Africa — 0.7%
Gold Fields Orogen Holding
4.875%, 10/07/2020	USD		400		355
Republic of South Africa
10.500%, 12/21/2026			8,300		826
8.250%, 09/15/2017			15,605		1,328
8.000%, 01/31/2030			2,820		229
7.750%, 02/28/2023			2,250		187
7.000%, 02/28/2031			5,005		369
					3,294

Description	Face Amount (1) (Thousands)		Market Value ($ Thousands)
South Korea — 0.6%
Korea Treasury Bond
4.250%, 06/10/2021		1,270,230	$	1,300
4.000%, 12/10/2031		510,000		565
3.750%, 12/10/2033		133,450		146
3.500%, 09/10/2016		973,960		900
3.500%, 03/10/2024		194,510		195
3.000%, 09/10/2024		218,880		212
2.750%, 03/10/2018		511,230		474
				3,792
Spain — 4.9%
Ayt Cedulas Cajas Global
3.750%, 12/14/2022		200		260
AyT Cedulas Cajas X Fondo de Titulizacion de Activos
0.091%, 06/30/2015 (C)		200		215
Banco de Sabadell
3.375%, 01/23/2018		100		117
Banco Popular Espanol
8.250%, 04/29/2049 (C)		200		223
4.000%, 10/18/2016		100		114
3.750%, 01/22/2019		100		121
2.125%, 10/08/2019		100		116
Bankia
4.125%, 03/24/2036		350		552
CaixaBank
0.145%, 01/09/2018 (B) (C)		200		212
Ferrovial Emisiones MTN
3.375%, 06/07/2021		475		581
Fondo de Amortizacion del Deficit Electrico MTN
4.125%, 03/17/2017		200		231
2.250%, 12/17/2016		700		778
Fundacion Bancaria Caixa d’Estalvis i Pensions de Barcelona
2.375%, 05/09/2019		700		795
Government of Spain
6.000%, 01/31/2029		465		776
5.500%, 07/30/2017		315		380
5.500%, 04/30/2021		1,980		2,725
5.150%, 10/31/2044		265		484
4.850%, 10/31/2020		1,235		1,630
4.700%, 07/30/2041		295		495
4.400%, 10/31/2023		970		1,324
4.200%, 01/31/2037		90		137
3.800%, 04/30/2024		1,000		1,319
3.300%, 07/30/2016		3,400		3,810
3.150%, 01/31/2016		1,350		1,488
2.750%, 04/30/2019		1,180		1,387
2.750%, 10/31/2024		790		968

24 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
1.950%, 07/30/2030			1,510	$	1,693
1.800%, 11/30/2024			983		1,249
0.500%, 10/31/2017			585		633
Santander Consumer Finance
3.875%, 03/23/2016			200		222
Santander International Debt MTN
4.625%, 03/21/2016			700		783
Telefonica Emisiones SAU MTN
5.375%, 02/02/2018	GBP		185		303
5.289%, 12/09/2022	GBP		250		436
					26,557
Supra-National — 0.8%
European Financial Stability Facility
1.625%, 07/17/2020	EUR		1,700		1,984
European Investment Bank MTN
2.750%, 09/15/2021	EUR		1,000		1,263
1.375%, 09/15/2021	EUR		575		672
					3,919
Sweden — 0.8%
Akzo Nobel Sweden Finance MTN
2.625%, 07/27/2022	EUR		150		181
Kingdom of Sweden
3.500%, 03/30/2039			260		47
1.500%, 11/13/2023			2,200		280
Kingdom of Sweden, Ser 1047
5.000%, 12/01/2020			3,700		549
Kingdom of Sweden, Ser 1052
4.250%, 03/12/2019			5,275		718
Kingdom of Sweden, Ser 1054
3.500%, 06/01/2022			3,535		506
Nordea Bank MTN
4.500%, 03/26/2020	EUR		225		284
4.000%, 03/29/2021	EUR		255		322
Skandinaviska Enskilda Banken MTN
1.875%, 11/14/2019	EUR		175		200
Stadshypotek MTN
4.250%, 10/10/2017	AUD		600		476
Svenska Handelsbanken
2.656%, 01/15/2024 (C)	EUR		651		735
					4,298
Switzerland — 0.8%
Credit Suisse MTN
5.750%, 09/18/2025 (C)	EUR		250		311
4.750%, 08/05/2019	EUR		400		505

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Government of Switzerland
3.000%, 05/12/2019			160	$	189
2.000%, 04/28/2021			1,070		1,257
2.000%, 05/25/2022			110		131
1.500%, 04/30/2042			120		158
1.250%, 06/11/2024			100		116
Switzerland Government Bond
3.500%, 04/08/2033			100		162
UBS MTN
6.625%, 04/11/2018	GBP		150		258
6.375%, 07/20/2016	GBP		160		254
4.750%, 02/12/2026 (C)	EUR		500		597
4.280%, 04/29/2049 (C)	EUR		200		215
UBS Group
5.750%, 12/29/2049 (C)	EUR		600		674
					4,827
Thailand — 0.1%
Thailand Government Bond
3.650%, 12/17/2021			16,020		528
3.625%, 06/16/2023			7,815		258
					786
Turkey — 0.0%
Republic of Turkey
5.500%, 02/16/2017	EUR		50		58
United Arab Emirates — 0.1%
Emirates Telecommunications MTN
2.750%, 06/18/2026	EUR		275		332
IPIC GMTN MTN
6.875%, 03/14/2026	GBP		100		198
5.875%, 03/14/2021	EUR		125		172
					702
United Kingdom — 15.8%
AA Bond
4.720%, 07/02/2043			500		800
Abbey National Treasury Services MTN
5.250%, 02/16/2029			450		897
5.125%, 04/14/2021			300		532
4.250%, 04/12/2021	EUR		350		464
1.750%, 01/15/2018	EUR		525		584
1.125%, 01/14/2022	EUR		330		356
Aviva
6.875%, 05/22/2038 (C)	EUR		195		243
6.125%, 11/14/2036 (C)			200		348
AWG Parent
6.875%, 08/21/2023			230		453

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 25

SCHEDULE OF INVESTMENTS (Unaudited)

International Fixed Income Fund (Continued)

March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Bank of Scotland MTN
4.750%, 06/08/2022	EUR		290	$	408
4.625%, 06/08/2017	EUR		275		325
Barclays Bank MTN
6.750%, 01/16/2023 (C)			350		576
6.625%, 03/30/2022	EUR		272		381
4.250%, 01/12/2022			250		430
BAT International Finance MTN
7.250%, 03/12/2024			250		509
5.375%, 06/29/2017	EUR		425		508
Bishopsgate Asset Finance
4.808%, 08/14/2044			180		282
Boparan Finance
5.250%, 07/15/2019			140		192
BP Capital Markets MTN
2.177%, 09/28/2021	EUR		245		285
British American Tobacco Holdings MTN
4.000%, 07/07/2020			100		126
Canary Wharf Finance II
6.455%, 04/22/2030			16		31
5.952%, 01/22/2035			15		29
Channel Link Enterprises Finance
3.426%, 06/30/2050 (C)	EUR		700		746
Co-Operative Bank
4.750%, 11/11/2021			250		420
Coventry Building Society MTN
4.625%, 04/19/2018			230		378
Delphi Automotive
1.500%, 03/10/2025			300		321
Direct Line Insurance Group
9.250%, 04/27/2042 (C)			100		193
Eastern Power Networks MTN
6.250%, 11/12/2036			160		338
ENW Finance MTN
6.125%, 07/21/2021			350		630
Eversholt Funding MTN
6.697%, 02/22/2035			100		204
FCE Bank MTN
5.125%, 11/16/2015			350		532
4.825%, 02/15/2017			200		315
1.875%, 05/12/2016	EUR		250		273
1.625%, 09/09/2016	EUR		100		109
First Hydro Finance
9.000%, 07/31/2021			220		447
Great Rolling Stock MTN
6.250%, 07/27/2020			300		529
HBOS Capital Funding
6.461%, 11/30/2049 (C)			115		183
Heathrow Funding MTN
1.875%, 05/23/2022			175		201

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
HSBC Bank MTN
4.750%, 09/29/2020 (C)			225	$	338
4.125%, 08/12/2020	USD		375		409
HSBC Holdings MTN
6.500%, 05/20/2024			250		487
Imperial Tobacco Finance MTN
8.375%, 02/17/2016	EUR		575		661
5.500%, 09/28/2026			350		634
2.250%, 02/26/2021	EUR		400		457
Intu SGS Finance MTN
3.875%, 03/17/2023 (D)			250		396
Jaguar Land Rover Automotive
5.000%, 02/15/2022			100		160
Lloyds Banking Group
7.000%, 12/29/2049 (C)			750		1,139
Lloyds TSB Bank MTN
6.500%, 03/24/2020	EUR		275		368
4.625%, 02/02/2017	EUR		150		174
Merlin Entertainment
2.750%, 03/15/2022	EUR		300		324
Mondi Finance MTN
5.750%, 04/03/2017	EUR		1,100		1,304
3.375%, 09/28/2020	EUR		400		482
National Westminster Bank
6.500%, 09/07/2021			220		382
6.500%, 09/07/2021			550		956
Nationwide Building Society MTN
4.625%, 02/08/2021	EUR		550		739
4.125%, 03/20/2023 (C)	EUR		1,200		1,390
0.750%, 06/25/2019	EUR		266		293
Network Rail Infrastructure Finance MTN
4.400%, 03/06/2016	CAD		690		563
Northumbrian Water Finance
6.875%, 02/06/2023			190		368
6.000%, 10/11/2017			500		828
NRAM Covered Bond
5.625%, 06/22/2017 (B)	USD		1,750		1,914
Paragon Offshore
7.250%, 08/15/2024 (B)	USD		214		71
6.750%, 07/15/2022 (B)	USD		30		10
PGH Capital
5.750%, 07/07/2021			250		404
RL Finance Bonds No. 2
6.125%, 11/30/2043 (C)			100		165
Rolls-Royce
6.750%, 04/30/2019			100		180
Royal Bank of Scotland
9.500%, 03/16/2022 (C)	USD		200		226
6.934%, 04/09/2018	EUR		300		370
5.125%, 01/13/2024			400		739
3.875%, 10/19/2020	EUR		123		158

26 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Santander UK
6.222%, 05/29/2049 (C)			110	$	166
Sky MTN
3.750%, 09/16/2024 (B)	USD		211		218
2.500%, 09/15/2026	EUR		500		593
Standard Chartered MTN
4.000%, 07/12/2022 (C)	USD		390		400
Standard Life MTN
5.500%, 12/04/2042 (C)			250		414
Tesco
6.052%, 10/13/2039			651		1,044
United Kingdom Gilt
6.000%, 12/07/2028			200		449
5.000%, 03/07/2018			2,545		4,258
4.500%, 09/07/2034			250		510
4.500%, 12/07/2042			1,675		3,613
4.250%, 12/07/2027			125		238
4.250%, 06/07/2032			110		215
3.750%, 09/07/2019			2,990		4,969
3.750%, 07/22/2052			450		911
3.500%, 01/22/2045			915		1,701
3.250%, 01/22/2044			1,700		3,019
2.750%, 09/07/2024			45		74
2.750%, 09/07/2024			1,345		2,199
2.250%, 09/07/2023			2,770		4,354
2.000%, 07/22/2020			1,465		2,265
1.750%, 07/22/2019			1,370		2,097
United Kingdom Treasury
5.000%, 03/07/2025			1,100		2,144
4.750%, 12/07/2030			1,380		2,820
4.750%, 12/07/2038			350		762
4.250%, 03/07/2036			770		1,538
4.250%, 09/07/2039			1,170		2,388
4.250%, 12/07/2040			370		760
4.000%, 03/07/2022			3,415		5,974
1.750%, 01/22/2017			800		1,216
Wales & West Utilities Finance
6.750%, 12/17/2036 (C)			200		343
6.250%, 11/30/2021			240		444
Western Power Distribution South West
5.750%, 03/23/2040			200		404
Western Power Distribution West Midlands
3.875%, 10/17/2024			230		376
Yorkshire Power Finance
7.250%, 08/04/2028			208		440
Yorkshire Water Services Bradford Finance
6.375%, 08/19/2039			100		219
					85,202

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
United States — 5.4%
21st Century Fox America
4.500%, 02/15/2021			75	$	83
Aetna
2.750%, 11/15/2022			165		165
Altria Group
4.750%, 05/05/2021			180		201
4.250%, 08/09/2042			265		268
American International Group
8.175%, 05/15/2058 (C)			240		340
5.750%, 03/15/2067	GBP		150		233
Anthem
4.650%, 01/15/2043			110		119
2.300%, 07/15/2018			150		152
AT&T
5.875%, 04/28/2017	GBP		200		324
4.875%, 06/01/2044	GBP		130		220
Bank of America MTN
0.861%, 03/28/2018 (C)	EUR		300		320
0.577%, 09/14/2018 (C)	EUR		375		397
Berkshire Hathaway
1.125%, 03/16/2027	EUR		297		318
Bristol-Myers Squibb
2.000%, 08/01/2022			670		647
Chevron
2.355%, 12/05/2022			535		529
Citigroup
4.450%, 01/10/2017			250		263
2.375%, 05/22/2024	EUR		700		823
2.125%, 09/10/2026	EUR		650		744
Coca-Cola
2.750%, 05/06/2026	EUR		160		191
Diamond Offshore Drilling
4.875%, 11/01/2043			130		109
Discovery Communications
2.375%, 03/07/2022	EUR		350		403
Dover MTN
2.125%, 12/01/2020	EUR		250		289
General Electric
2.700%, 10/09/2022			320		325
General Electric Capital MTN
5.500%, 01/08/2020			305		353
5.300%, 02/11/2021			205		237
4.625%, 01/07/2021			750		844
Glencore Funding
4.125%, 05/30/2023 (B)			94		96
Goldman Sachs Group MTN
2.625%, 08/19/2020	EUR		350		409
Illinois Tool Works MTN
3.000%, 05/19/2034	EUR		400		540
INEOS Group Holdings
5.750%, 02/15/2019			350		379
Intelsat Jackson Holdings
5.500%, 08/01/2023			195		184

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 27

SCHEDULE OF INVESTMENTS (Unaudited)

International Fixed Income Fund (Continued)

March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
International Business Machines MTN
1.375%, 11/19/2019	EUR		250	$	280
Jefferies Group MTN
2.375%, 05/20/2020	EUR		700		765
John Deere Bank MTN
1.500%, 07/16/2018			250		279
JPMorgan Chase MTN
1.063%, 05/30/2017 (C)	GBP		100		147
0.470%, 10/12/2015 (C)	EUR		350		376
JPMorgan Chase Bank
0.761%, 05/31/2017 (C)	EUR		1,250		1,341
Kinder Morgan
2.250%, 03/16/2027	EUR		246		269
1.500%, 03/16/2022	EUR		600		646
Mellon Capital III
6.369%, 09/05/2066 (C)	GBP		150		232
Merck
2.500%, 10/15/2034	EUR		500		653
1.875%, 10/15/2026	EUR		300		351
1.125%, 10/15/2021	EUR		400		443
Metropolitan Life Global Funding I MTN
4.625%, 05/16/2017	EUR		200		234
Mondelez International
2.375%, 03/06/2035	EUR		100		112
1.625%, 03/08/2027	EUR		300		324
1.000%, 03/07/2022	EUR		200		216
Morgan Stanley MTN
3.750%, 09/21/2017	EUR		350		407
2.375%, 03/31/2021	EUR		1,250		1,449
1.750%, 01/30/2025	EUR		205		227
Nabors Industries
5.100%, 09/15/2023			93		89
Offshore Group Investment
7.125%, 04/01/2023			142		81
ONEOK Partners
3.800%, 03/15/2020			128		130
Owens Corning
6.500%, 12/01/2016			9		10
Philip Morris International
2.900%, 11/15/2021			325		334
2.875%, 03/03/2026	EUR		435		545
2.875%, 05/30/2024	EUR		100		124
PNC Funding
5.125%, 02/08/2020			300		343
3.300%, 03/08/2022			150		158
Priceline Group
2.375%, 09/23/2024	EUR		250		288
1.800%, 03/03/2027	EUR		400		427
Principal Financial Group
1.850%, 11/15/2017			175		176
Procter & Gamble
2.000%, 11/05/2021	EUR		150		176

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Prologis
3.375%, 02/20/2024	EUR		300	$	372
3.000%, 01/18/2022	EUR		250		299
3.000%, 06/02/2026	EUR		200		244
Prologis International Funding II MTN
2.875%, 04/04/2022			220		259
Prudential Financial
5.625%, 06/15/2043 (C)			545		578
Rabobank Capital Funding Trust IV
5.556%, 12/31/2019 (C)	GBP		153		246
Republic Services
4.750%, 05/15/2023			155		175
Reynolds American
3.250%, 11/01/2022			180		179
Ryder System MTN
5.850%, 11/01/2016			116		124
Seagate HDD
4.750%, 01/01/2025 (B)			123		127
SM Energy
6.500%, 01/01/2023			16		16
Societe Generale
5.922%, 04/05/2017 (B) (C)			180		188
Sprint
7.875%, 09/15/2023			187		191
Thermo Fisher Scientific
2.000%, 04/15/2025	EUR		764		865
UBS MTN
5.875%, 12/20/2017	USD		247		274
United Technologies
1.800%, 06/01/2017			201		205
Verizon Communications
6.550%, 09/15/2043			165		215
5.012%, 08/21/2054 (B)			44		46
2.625%, 12/01/2031	EUR		100		121
1.625%, 03/01/2024	EUR		700		779
Viacom
3.875%, 04/01/2024			148		152
Wells Fargo MTN
4.600%, 04/01/2021			75		84
Williams Partners
3.900%, 01/15/2025			228		223
Zurich Finance USA MTN
6.500%, 10/14/2015	EUR		500		555
					28,654
Total Global Bonds (Cost $532,854) ($ Thousands)					495,099

28 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description	Face Amount (1) (Thousands)		Market Value ($ Thousands)
MORTGAGE-BACKED SECURITIES — 2.1%
Agency Mortgage-Backed Obligation — 0.3%
FHLMC Structured Agency Credit Risk Debt Notes, Ser 2014-DN1, Cl M1
1.174%, 02/25/2024 (B) (C)		386	$	386
FHLMC Structured Agency Credit Risk Debt Notes, Ser 2014-HQ2, Cl M1
1.624%, 09/25/2024 (B) (C)		418		420
FHLMC Structured Agency Credit Risk Debt Notes, Ser 2015-HQ1, Cl M1
1.223%, 03/25/2025 (B) (C)		250		250
FHLMC, Ser K501, Cl X1A, IO
1.643%, 08/25/2016 (C)		248		4
				1,060
Non-Agency Mortgage-Backed Obligation — 1.8%
Banc of America Commercial Mortgage, Ser 2007-5, Cl A4
5.492%, 02/10/2051		100		106
Bear Stearns Adjustable Rate Mortgage Trust, Ser 2004-6, Cl 3A
2.706%, 09/25/2034 (B) (C)		82		80
Bear Stearns Commercial Mortgage Securities, Ser 2005-PW10, Cl A4
5.405%, 12/11/2040 (C)		189		192
Bear Stearns Commercial Mortgage Securities, Ser 2005-PWR9, Cl A4A
4.871%, 09/11/2042		83		83
Bear Stearns Commercial Mortgage Securities, Ser 2005-T20, Cl A4A
5.140%, 10/12/2042 (C)		37		38
Bear Stearns Commercial Mortgage Securities, Ser 2006-PW13, Cl AJ
5.611%, 09/11/2041 (C)		241		248
Bear Stearns Commercial Mortgage Securities, Ser 2006-T24, Cl A4
5.537%, 10/12/2041		187		197
Bear Stearns Commercial Mortgage Securities, Ser 2006-TOP22, Cl AJ
5.575%, 04/12/2038 (C)		25		26

Description	Face Amount (1) (Thousands)		Market Value ($ Thousands)
Bear Stearns Commercial Mortgage Securities, Ser 2007-PW15, Cl A4
5.331%, 02/11/2044		73	$	78
Bear Stearns Commercial Mortgage Securities, Ser 2007-PW16, Cl A4
5.707%, 06/11/2040 (C)		76		82
Bear Stearns Commercial Mortgage Securities, Ser 2007-PW17, Cl A4
5.694%, 06/11/2050 (C)		175		189
Bear Stearns Commercial Mortgage Securities, Ser 2007-T26, Cl A4
5.471%, 01/12/2045 (C)		64		69
CD Mortgage Trust, Ser 2007-CD5, Cl A4
5.886%, 11/15/2044 (C)		87		94
Citigroup Commercial Mortgage Trust, Ser 2006-C4, Cl A3
5.772%, 03/15/2049 (C)		139		144
Citigroup Commercial Mortgage Trust, Ser 2008-C7, Cl A4
6.150%, 12/10/2049 (C)		429		468
Citigroup Commercial Mortgage Trust, Ser 2014-GC19, Cl D
4.900%, 03/10/2047 (B) (C)		20		20
Citigroup Mortgage Loan Trust, Ser 2005-2, Cl 1A4
2.546%, 05/25/2035 (B) (C)		562		541
COBALT Commercial Mortgage Trust, Ser 2006-C1, Cl A4
5.223%, 08/15/2048		43		46
COBALT Commercial Mortgage Trust, Ser 2006-C1, Cl AM
5.254%, 08/15/2048		35		36
COMM Mortgage Trust, Ser 2006-C7, Cl A4
5.751%, 06/10/2046 (C)		124		129
COMM Mortgage Trust, Ser 2012-CRE4, Cl XA, IO
1.958%, 10/15/2045 (C)		174		17
COMM Mortgage Trust, Ser 2013-CCRE9, Cl A4
4.238%, 07/10/2045 (C)		35		39
COMM Mortgage Trust, Ser 2013-CR8, Cl A4
3.334%, 06/10/2046		130		137

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 29

SCHEDULE OF INVESTMENTS (Unaudited)

International Fixed Income Fund (Continued)

March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
COMM Mortgage Trust, Ser 2013-CR9, Cl A3
4.022%, 07/10/2045			50	$	55
COMM Mortgage Trust, Ser 2014-CCRE14, Cl A3
3.955%, 02/10/2047			70		77
COMM Mortgage Trust, Ser 2014-SAVA, Cl A
1.325%, 06/15/2034 (B) (C)			230		230
COMM Mortgage Trust, Ser 2014-UBS4, Cl A5
3.694%, 08/10/2047			65		69
Commercial Mortgage Loan Trust, Ser 2008-LS1, Cl A4B
6.044%, 12/10/2049 (C)			273		291
Commercial Mortgage Pass-Through Certificates, Ser 2008-C1, Cl A3
5.971%, 02/15/2041 (C)			55		60
Commerical Mortgage Trust, Ser 2006-GG7, Cl A4
5.787%, 07/10/2038 (C)			140		145
Commerical Mortgage Trust, Ser 2007-GG11, Cl A4
5.736%, 12/10/2049			240		259
Commerical Mortgage Trust, Ser 2007-GG9, Cl AM
5.475%, 03/10/2039			370		390
Credit Suisse Commercial Mortgage Trust, Ser 2007-C3, Cl A4
5.704%, 06/15/2039 (C)			133		142
Credit Suisse First Boston Mortgage Securities, Ser 2005-C2, Cl AMFX
4.877%, 04/15/2037			85		85
Eddystone Finance, Ser 2006-1, Cl A2
1.088%, 04/19/2021 (C)	GBP		115		167
FNMA Connecticut Avenue Securities, Ser 2013-C01, Cl M1
2.174%, 10/25/2023 (B) (C)			116		117
FNMA Connecticut Avenue Securities, Ser 2014-C01, Cl M1
1.774%, 01/25/2024 (B) (C)			302		304
FNMA Connecticut Avenue Securities, Ser 2014-C04, Cl 2M1
2.274%, 11/25/2024 (B) (C)			384		388

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
GE Capital Commercial Mortgage, Ser 2005-C4, Cl A4
5.322%, 11/10/2045 (C)			55	$	56
GMAC Commercial Mortgage Securities Trust, Ser 2006-C1, Cl A4
5.238%, 11/10/2045 (C)			99		100
Granite Master Issuer, Ser 2005-1, Cl A5
0.169%, 12/20/2054 (B) (C)	EUR		80		86
Granite Master Issuer, Ser 2006-2, Cl A5
0.189%, 12/20/2054 (B) (C)	EUR		158		170
GS Mortgage Securities Trust, Ser 2011-GC5, Cl XA, IO
1.668%, 08/10/2044 (B) (C)			297		16
GS Mortgage Securities Trust, Ser 2013-GC13, Cl XA, IO
0.306%, 07/10/2046 (C)			2,884		31
GS Mortgage Securities Trust, Ser 2014-GC20, Cl D
4.867%, 04/10/2047 (B) (C)			80		79
GSR Mortgage Loan Trust, Ser 2005-AR1, Cl 4A1
4.506%, 01/25/2035 (B) (C)			132		129
JPMBB Commercial Mortgage Securities, Ser 2014-C23, Cl XA, IO
0.886%, 09/15/2047 (C)			999		50
JPMBB Commercial Mortgage Securities, Ser 2014-C26, Cl A4
3.494%, 01/15/2048			15		16
JPMorgan Chase Commercial Mortgage Securities, Ser 2005-CB13, Cl A4
5.247%, 01/12/2043 (C)			85		86
JPMorgan Chase Commercial Mortgage Securities, Ser 2006-LDP7, Cl A4
5.841%, 04/15/2045 (C)			90		93
JPMorgan Chase Commercial Mortgage Securities, Ser 2006-LDP8, Cl A4
5.399%, 05/15/2045			72		75
JPMorgan Chase Commercial Mortgage Securities, Ser 2007-C1, Cl A4
5.716%, 02/15/2051			84		90
JPMorgan Chase Commercial Mortgage Securities, Ser 2007-CB19, Cl A4
5.699%, 02/12/2049 (C)			235		253

30 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description	Face Amount (1) (Thousands)		Market Value ($ Thousands)
JPMorgan Chase Commercial Mortgage Securities, Ser 2008-C2, Cl A4FL
1.678%, 02/12/2051 (C)		207	$	204
JPMorgan Chase Commercial Mortgage Securities, Ser 2008-C2, Cl A4
6.068%, 02/12/2051		28		31
JPMorgan Chase Commercial Mortgage Securities, Ser 2012-C8, Cl A3
2.829%, 10/15/2045		135		138
JPMorgan Chase Commercial Mortgage Securities, Ser 2012-C8, Cl E
4.666%, 10/15/2045 (B) (C)		100		101
JPMorgan Chase Commercial Mortgage Securities, Ser 2012-LC9, Cl A5
2.840%, 12/15/2047		135		138
JPMorgan Chase Commercial Mortgage Securities, Ser 2014-INN, Cl A
1.095%, 06/15/2029 (B) (C)		130		130
JPMorgan Chase Commercial Mortgage Securities, Ser LDP9, Cl A3
5.336%, 05/15/2047		127		134
JPMorgan Mortgage Trust, Ser 2004-A5, Cl 3A1
2.185%, 12/25/2034 (B) (C)		95		95
LB-UBS Commercial Mortgage Trust, Ser 2007-C6, Cl A4
5.858%, 07/15/2040 (C)		166		174
LB-UBS Commercial Mortgage Trust, Ser 2007-C7, Cl A3
5.866%, 09/15/2045 (C)		64		70
LB-UBS Commercial Mortgage Trust, Ser 2008-C1, Cl A2
6.147%, 04/15/2041 (C)		50		55
Merrill Lynch Mortgage Trust, Ser 2005-CIP1, Cl AJ
5.137%, 07/12/2038 (C)		55		56
ML-CFC Commercial Mortgage Trust, Ser 2007-5, Cl AM
5.419%, 08/12/2048		40		42
ML-CFC Commercial Mortgage Trust, Ser 2007-5, Cl A4
5.378%, 08/12/2048		131		138
Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2013-C10, Cl A4
4.083%, 07/15/2046 (C)		60		67

Description	Face Amount (1) (Thousands)		Market Value ($ Thousands)
Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2014-C17, Cl A5
3.741%, 08/15/2047		65	$	70
Morgan Stanley Capital I Trust, Ser 2006-IQ16, Cl A4
5.809%, 12/12/2049		74		80
Morgan Stanley Capital I Trust, Ser 2006-T21, Cl D
5.405%, 10/12/2052 (B) (C)		15		15
Morgan Stanley Capital I Trust, Ser 2006-T21, Cl E
5.405%, 10/12/2052 (B) (C)		10		10
Morgan Stanley Capital I Trust, Ser 2007-HQ13, Cl A3
5.569%, 12/15/2044		105		112
Morgan Stanley Capital I Trust, Ser 2007-IQ14, Cl A4
5.686%, 04/15/2049 (C)		160		172
Morgan Stanley Capital I Trust, Ser 2008-TOP29, Cl D
6.270%, 01/11/2043 (B) (C)		35		36
Morgan Stanley Re-REMIC Trust, Ser 2010-GG10, Cl A4A
5.796%, 08/15/2045 (B) (C)		172		184
UBS-Barclays Commercial Mortgage Trust, Ser 2013-C5, Cl A4
3.185%, 03/10/2046		130		135
UBS-Barclays Commercial Mortgage Trust, Ser 2013-C6, Cl A3
2.971%, 04/10/2046		70		72
Wachovia Bank Commercial Mortgage Trust, Ser 2006-C23, Cl A4
5.418%, 01/15/2045 (C)		85		87
Wells Fargo Commercial Mortgage Trust, Ser 2012-LC5, Cl D
4.778%, 10/15/2045 (B) (C)		35		36
WFRBS Commercial Mortgage Trust, Ser 2011-C4, Cl A4
4.902%, 06/15/2044 (B) (C)		120		137
WFRBS Commercial Mortgage Trust, Ser 2014-C20, Cl A5
3.995%, 05/15/2047		65		71
WFRBS Commerical Mortgage Trust, Ser 2013-C15, Cl A3
3.881%, 08/15/2046		70		76
				10,034
Total Mortgage-Backed Securities (Cost $11,188) ($ Thousands)				11,094

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 31

SCHEDULE OF INVESTMENTS (Unaudited)

International Fixed Income Fund (Continued)

March 31, 2015

Description	Face Amount (1) (Thousands)		Market Value ($ Thousands)
CORPORATE OBLIGATIONS — 0.8%
United States — 0.8%
Anadarko Petroleum
6.375%, 09/15/2017		330	$	367
CNA Financial
7.250%, 11/15/2023		110		137
6.500%, 08/15/2016		40		43
Credit Suisse NY MTN
3.625%, 09/09/2024		260		269
Duke Realty
6.750%, 03/15/2020 (D)		140		166
Enterprise Products Operating
5.950%, 02/01/2041		100		121
General Electric Capital MTN
5.550%, 05/04/2020		45		52
2.375%, 06/30/2015		150		151
Kinder Morgan Energy Partners
6.850%, 02/15/2020		150		175
3.500%, 09/01/2023		171		168
2.650%, 02/01/2019		39		39
McGraw Hill Financial
5.900%, 11/15/2017		325		357
Morgan Stanley
3.450%, 11/02/2015		125		127
Navient MTN
5.500%, 01/15/2019		433		442
PNC Bank
2.700%, 11/01/2022		445		443
Prudential Financial MTN
6.100%, 06/15/2017		125		138
Ryder System MTN
7.200%, 09/01/2015		108		111
Time Warner
4.875%, 03/15/2020		150		168
Total System Services
2.375%, 06/01/2018		236		237
Viacom
6.125%, 10/05/2017		325		360
Williams Partners
4.125%, 11/15/2020		95		99
4.000%, 11/15/2021		150		154
Total Corporate Obligations (Cost $4,114) ($ Thousands)				4,324
U.S. TREASURY OBLIGATION — 0.5%
U.S. Treasury Notes
2.000%, 02/15/2025		2,895		2,913
Total U.S. Treasury Obligation (Cost $2,915) ($ Thousands)				2,913

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES — 0.1%
Automotive — 0.0%
Bavarian Sky, Ser 2013-GER1, CI A
0.229%, 06/20/2020 (C)			159	$	171
Other Asset-Backed Securities — 0.1%
Volta Electricity Receivables, Ser 2013-1, Cl SNR
4.172%, 02/16/2017			162		177
Total Asset-Backed Securities (Cost $416) ($ Thousands)					348
TIME DEPOSITS (2) — 2.3%
Brown Brothers Harriman
4.800%, 04/01/2015	ZAR		548		45
2.950%, 04/01/2015	NZD		27		21
1.462%, 04/01/2015	AUD		27		21
0.350%, 04/01/2015	NOK		46		6
0.100%, 04/01/2015	CAD		45		35
0.074%, 04/01/2015	GBP		54		80
0.030%, 04/01/2015			11,523		11,523
0.005%, 04/01/2015	SGD		25		18
0.005%, 04/01/2015	JPY		4,433		37
0.005%, 04/01/2015	HKD		2		—
(0.100)%, 04/01/2015	DKK		2		—
(0.198)%, 04/01/2015	EUR		240		258
(0.270)%, 04/01/2015	SEK		158		18
(1.000)%, 04/01/2015	CHF		18		18
Total Time Deposits (Cost $12,080) ($ Thousands)					12,080
Total Investments — 98.8% (Cost $563,567) ($ Thousands)				$	525,858

A list of the open futures contracts held by the Fund at March 31, 2015, is as follows:

Type of Contract	Number of Contracts Long (Short)			Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
10-YR MINI JGB		17			Jun-2015	$	(1	)
Australian 10-Year Bond		(5	)		Jun-2015		(1	)
Australian 3-Year Bond		(2	)		Jun-2015		—
Canadian 10-Year Bond		(41	)		Jun-2015		—
Euro-Bobl		(60	)		Jun-2015		3
Euro-Bobl		24			Jun-2015		7
Euro-Bund		22			Jun-2015		47
Euro-Bund		(12	)		Jun-2015		(24	)
Euro-Buxl 30 Year Bond		8			Jun-2015		(2	)
Euro-Schatz		31			Jun-2015		2
Japanese 10-Year Bond		5			Jun-2015		(5	)
Long Gilt 10-Year Bond		1			Jun-2015		—
Long Gilt 10-Year Bond		(30	)		Jun-2015		(103	)
U.S. 10-Year Treasury Note		67			Jun-2015		120
U.S. 10-Year Treasury Note		(154	)		Jun-2015		(126	)
U.S. 2-Year Treasury Note		14			Jun-2015		2
U.S. 2-Year Treasury Note		(80	)		Jun-2015		(64	)
U.S. 5-Year Treasury Note		(25	)		Jun-2015		(11	)

32 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Type of Contract	Number of Contracts Long (Short)			Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
U.S. 5-Year Treasury Note		69			Jun-2015	$	82
U.S. Long Treasury Bond		(5	)		Jun-2015		(9	)
U.S. Ultra Long Treasury Bond		(11	)		Jun-2015		(25	)
						$	(108	)

For the six months ended March 31, 2015, the total amount of all open futures contracts, as presented in the table above, are representative of the volume of activity for this derivative type during the six months.

A list of the open forward foreign currency contracts held by the Fund at March 31, 2015, is as follows:

Settlement Date	Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) ($ Thousands)
04/08/2015		DKK	23,974		USD	3,608	$	161
04/08/2015-04/30/2015		CAD	29,013		USD	23,114		209
04/08/2015-04/30/2015		EUR	171,456		USD	190,705		6,534
04/08/2015-04/30/2015		SEK	17,917		USD	2,118		39
04/08/2015-04/30/2015		USD	10,122		EUR	9,188		(253	)
04/08/2015-04/30/2015		USD	1,470		GBP	982		(13	)
04/08/2015-04/30/2015		USD	2,156		JPY	257,610		(7	)
04/08/2015-05/15/2015		AUD	18,149		USD	14,087		251
04/08/2015-06/17/2015		GBP	56,640		USD	860,082		2,018
04/08/2015-08/21/2015		JPY	12,297,282		USD	103,690		1,096
04/10/2015		USD	1,631		CAD	2,084		15
04/10/2015-04/30/2015		NZD	2,159		USD	1,618		1
04/16/2015		USD	1,008		MXN	15,348		(1	)
04/16/2015-04/30/2015		MXN	68,997		USD	4,569		45
04/17/2015		IDR	8,488,166		USD	640		(7	)
04/17/2015		USD	1,732		IDR	22,455,783		(19	)
04/17/2015-04/30/2015		ZAR	37,082		USD	3,164		113
04/24/2015		USD	1,638		SGD	2,275		20
04/24/2015-04/30/2015		SGD	4,338		USD	3,168		6
04/28/2015-04/30/2015		PLN	7,027		USD	1,840		(12	)
04/30/2015		CZK	10,333		USD	412		9
04/30/2015		ILS	777		USD	198		3
04/30/2015		KRW	4,767,898		USD	4,322		28
04/30/2015		MYR	2,129		USD	579		6
04/30/2015		NOK	3,225		USD	410		10
04/30/2015		THB	24,826		USD	761		(1	)
04/30/2015		USD	963		AUD	1,240		(18	)
04/30/2015		USD	708		CHF	684		(3	)
04/30/2015		USD	529		KRW	586,150		(1	)
04/30/2015		USD	628		NZD	827		(10	)
04/30/2015		USD	514		PLN	1,935		(4	)
04/30/2015		USD	1,098		SEK	9,325		(16	)
04/30/2015-05/13/2015		CHF	5,954		USD	6,149		8
05/05/2015		USD	796		BRL	2,583		5
01/06/2016		BRL	11,255		USD	3,292		(40	)
							$	10,172

A list of the counterparties for the open forward foreign currency contracts held by the Fund March 31, 2015, is as follows:

Settlement Date	Currency to Deliver ($ Thousands)			Currency to Receive ($ Thousands)		Unrealized Appreciation (Depreciation) ($ Thousands)
Bank of America	$	(5,886	)	$	6,056	$	170
Barclays PLC		(2,739	)		2,719		(20	)
BNP Paribas		(5,102	)		5,201		99
Brown Brothers Harriman		(74,730	)		75,591		861
Citigroup		(253,606	)		261,481		7,875
Credit Suisse First Boston		(3,689	)		3,717		28
Deutsche Bank		(7,435	)		7,369		(66	)
Goldman Sachs		(4,065	)		3,948		(117	)
HSBC		(23,301	)		23,372		71
JPMorgan Chase Bank		(38,587	)		38,812		225
Morgan Stanley		(537	)		518		(19	)
National Alliance Capital		(184	)		183		(1	)
National Australia Bank		(13,248	)		13,252		4
Paribas		(1,659	)		1,669		10
Royal Bank of Canada		(1,512	)		1,500		(12	)
Royal Bank of Scotland		(16,120	)		16,957		837
Societe Generate		(188	)		188		—
Standard Bank		(529	)		528		(1	)
State Street		(1,169	)		1,150		(19	)
TD Securities		(10,018	)		10,129		111
UBS		(4,744	)		4,880		136
						$	10,172

For the six months ended March 31, 2015, the total amount of all open forward foreign currency contracts, as presented in the table above are representative of the volume of activity for this derivative type during the six months.

A list of the open OTC swap agreements held by the Fund at March 31, 2015, is as follows:

Interest Rate Swaps
Counterparty	Fund Pays	Fund Receives	Termination Date	Currency	Notional Amount (Thousands)		Net Unrealized Depreciation ($ Thousands)
Citibank	2.83%	3 Month USD - LIBOR	08/08/2023	USD		6,000	$	(456	)
Citibank	Euro CPI Overall Excluding Tobacco	1.22%	04/03/2019	EUR		2,450		(38	)
Citigroup	3.79%	6 Month GBP - LIBOR	05/19/2019	GBP		2,500		(426	)
							$	(920	)

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 33

SCHEDULE OF INVESTMENTS (Unaudited)

International Fixed Income Fund (Concluded)

March 31, 2015

A list of the open centrally cleared swap agreements held by the Fund at March 31, 2015, is as follows:

Credit Default Swaps
Counterparty	Reference Entity/Obligation	Buy/Sell Protection	(Pays)/Receives Rate	Termination Date	Notional Amount (Thousands)		Net Unrealized Depreciation ($ Thousands)
Citibank	Cdx.Na.Hy.23 5Y Index	BUY	5.00	12/20/2019		813	$	(16	)

Interest Rate Swaps
Counterparty	Fund Pays	Fund Receives	Termination Date	Currency	Notional Amount (Thousands)		Net Unrealized Appreciation (Depreciation) ($ Thousands)
Citibank	3.34%	6 Month GBP - LIBOR	01/17/2044	GBP		1,000	$	(465	)
JP Morgan Chase Bank	6 Month JPY - LIBOR	1.56%	11/28/2033	JPY		600,000		406
JP Morgan Chase Bank	1.90%	6 Month EUR - EURIBOR	03/24/2024	EUR		2,200		(294	)
JP Morgan Chase Bank	2.87%	6 Month GBP - LIBOR	02/14/2024	GBP		250		(39	)
JP Morgan Chase Bank	1.49%	6 Month EUR - EURIBOR	11/21/2023	EUR		5,500		(765	)
JP Morgan Chase Bank	1.49%	6 Month EUR - EURIBOR	09/12/2018	EUR		7,000		(349	)
							$	(1,506	)

For the six months ended March 31, 2015, the total amount of all swap agreements, as presented in the table above, are representative of the volume of activity for this derivative type during the six months.

Percentages are based on a Net Assets of $532,429 ($ Thousands).

(1) In local currency unless otherwise indicated.

(2) In U.S. dollars unless otherwise indicated.

(A) Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase.

(B) Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” These securities have been determined to be liquid under guidelines established by the Board of Trustees.

(C) Variable Rate Security — The rate reported on the Schedule of Investments is the rate in effect as of March 31, 2015.

(D) Real Estate Investment Trust.

(E) Security, or portion thereof, has been pledged as collateral on open swap agreements.

AUD — Australian Dollar

CAD — Canadian Dollar

CHF — Swiss Franc

Cl — Class

CPI — Consumer Price Index

CZK — Czech Koruna

Cl — Class

DKK — Danish Krone

EUR — Euro

EURIBOR — Euro London Interbank Offered Rate

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

GBP — British Pound Sterling

HKD — Hong Kong Dollar

IDR — Indonesia Rupiah

ILS — Israeli Shekel

IO — Interest Only

JPY — Japanese Yen

KRW — Korean Won

LIBOR — London Interbank Offered Rate

MTN — Medium Term Note

MXN — Mexican Peso

MYR — Malaysian Ringgit

NOK — Norwegian Krone

NZD — New Zealand Dollar

OTC — Over the Counter

PEI — Peruvian Inca

PLC — Public Limited Company

PLN — Polish Zlotty

SEK — Swedish Krone

Ser — Series

SGD — Singapore Dollar

THB — Thai Baht

USD — U.S. Dollar

ZAR — South African Rand

The following is a list of the levels of inputs used as of March 31, 2015, in valuing the Fund’s investments and other financial instruments carried at value ($ Thousands):

Investments in Securities	Level 1			Level 2			Level 3		Total
Global Bonds	$	—		$	495,099		$	—	$	495,099
Mortgage-Backed Securities		—			11,094			—		11,094
Corporate Obligations		—			4,324			—		4,324
U.S. Treasury Obligation		—			2,913			—		2,913
Asset-Backed Securities		—			348			—		348
Time Deposits		—			12,080			—		12,080
Total Investments in Securities	$	—		$	525,858		$	—	$	525,858
Other Financial Instruments	Level 1			Level 2			Level 3		Total
Futures Contracts*
Unrealized Appreciation	$	263		$	—		$	—	$	263
Unrealized Depreciation		(371	)		—			—		(371	)
Forwards Contracts*
Unrealized Appreciation		—			10,577			—		10,577
Unrealized Depreciation		—			(405	)		—		(405	)
OTC Swaps
Interest Rate Swaps*
Unrealized Depreciation		—			(920	)		—		(920	)
Centrally Cleared Swaps
Credit Default Swaps*
Unrealized Depreciation		—			(16	)		—		(16	)
Interest Rate Swaps*
Unrealized Appreciation		—			406			—		406
Unrealized Depreciation		—			(1,912	)		—		(1,912	)
Total Other Financial Instruments	$	(108	)	$	7,730		$	—	$	7,622

* Futures contracts, forwards contracts and swap contracts are valued at the net unrealized appreciation (depreciation) on the instrument.

For the six months ended March 31, 2015, there were no transfers between Level 1 and Level 2 assets and liabilities.

For the six months ended March 31, 2015, there were no transfers between Level 2 and Level 3 assets and liabilities.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

34 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Debt Fund

March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS — 92.8%
Angola — 0.1%
Republic of Angola Via Northern Lights III
7.000%, 08/16/2019			749	$	748
Argentina — 0.7%
Republic of Argentina
7.000%, 04/17/2017			4,981		4,731
6.000%, 03/31/2023 (A)			815		1,027
5.870%, 03/31/2023 (A)	DEM		590		298
3.043%, 12/15/2035 (B)			1,203		113
0.044%, 12/15/2035 (B)			31,346		2,962
YPF
8.750%, 04/04/2024 (C)			800		818
					9,949
Armenia — 0.2%
Republic of Armenia
7.150%, 03/26/2025 (C)			2,386		2,324
Azerbaijan — 0.7%
International Bank of Azerbaijan
5.625%, 06/11/2019			1,700		1,541
Republic of Azerbaijan
4.750%, 03/18/2024 (C)			1,820		1,812
4.750%, 03/18/2024			1,500		1,494
State Oil of the Azerbaijan Republic
6.950%, 03/18/2030			830		829
5.450%, 02/09/2017			1,312		1,335
4.750%, 03/13/2023			3,694		3,394
4.750%, 03/13/2023			500		459
					10,864
Barbados — 0.1%
Columbus International
7.375%, 03/30/2021 (C)			1,213		1,274
Belize — 0.2%
Belize Government International Bond
5.000%, 08/20/2017 (D)			4,500		3,291

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Bermuda — 0.2%
Government of Bermuda
4.854%, 02/06/2024			1,680	$	1,766
4.138%, 01/03/2023 (C)			820		814
					2,580
Bolivia — 0.4%
Government of Bolivia
5.950%, 08/22/2023			5,069		5,240
5.950%, 08/22/2023			500		517
					5,757
Bosnia and Herzegovina — 0.0%
Republic of Bosnia & Herzegovina
2.063%, 12/11/2017 (B)	DEM		1,125		522
Brazil — 8.3%
Banco Nacional de Desenvolvimento Economico e Social
6.500%, 06/10/2019 (C)			660		706
5.750%, 09/26/2023			280		287
5.500%, 07/12/2020 (C)			400		416
Brazil Letras do Tesouro Nacional
12.745%, 01/01/2016 (E)	BRL		20,010		5,690
11.908%, 07/01/2018 (E)	BRL		23,485		4,912
11.519%, 01/01/2017 (E)	BRL		19,673		4,935
10.615%, 01/01/2018 (E)	BRL		28,800		6,384
Brazil Loan Trust 1
5.477%, 07/24/2023 (C)			2,254		2,243
5.477%, 07/24/2023			351		348
Brazil Notas do Tesouro Nacional, Ser B
6.000%, 08/15/2020	BRL		4,385		3,496
Brazil Notas do Tesouro Nacional, Serie F
10.000%, 01/01/2018	BRL		10,986		3,191
10.000%, 01/01/2021	BRL		25,761		7,091
10.000%, 01/01/2023	BRL		23,088		6,183
10.000%, 01/01/2025	BRL		80,289		21,010
BRF
4.750%, 05/22/2024 (C)			1,723		1,676

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 35

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Debt Fund (Continued)

March 31, 2015

Description	Face Amount (1) (Thousands)		Market Value ($ Thousands)
Caixa Economica Federal
4.250%, 05/13/2019		200	$	192
CIMPOR Financial Operations
5.750%, 07/17/2024 (C)		718		596
Cosan
5.000%, 03/14/2023 (C)		761		675
ESAL GmbH
6.250%, 02/05/2023 (C)		948		922
Federal Republic of Brazil
10.125%, 05/15/2027		850		1,271
10.125%, 05/15/2027		1,378		2,060
8.250%, 01/20/2034		4,604		5,962
7.125%, 01/20/2037		8,073		9,587
5.000%, 01/27/2045		2,880		2,664
4.875%, 01/22/2021		420		441
4.250%, 01/07/2025		6,842		6,705
2.625%, 01/05/2023		3,341		2,999
JBS Finance II
8.250%, 01/29/2018		370		382
8.250%, 01/29/2018 (C)		350		362
JBS Investments GmbH
7.250%, 04/03/2024 (C)		29		30
Marfrig Holding Europe
8.375%, 05/09/2018		2,500		2,363
6.875%, 06/24/2019 (C)		355		302
Marfrig Overseas
9.500%, 05/04/2020 (C)		835		789
9.500%, 05/04/2020		650		614
Minerva Luxembourg
12.250%, 02/10/2022 (C)		650		722
7.750%, 01/31/2023		1,400		1,379
Odebrecht Drilling Norbe VIII/IX
6.350%, 06/30/2021 (C)		124		107
Odebrecht Offshore Drilling Finance
6.750%, 10/01/2022 (C)		317		246
Petrobras Global Finance
7.250%, 03/17/2044		107		100
3.875%, 01/27/2016		222		218
2.000%, 05/20/2016		612		585
Petrobras International Finance
6.875%, 01/20/2040		238		216
5.750%, 01/20/2020		757		702
Rio Oil Finance Trust, Ser 2014-1
6.250%, 07/06/2024 (C)		1,265		1,155
				112,914
Chile — 1.6%
Banco del Estado de Chile
4.125%, 10/07/2020		30		32
3.875%, 02/08/2022 (C)		230		237
BancoEstado
4.125%, 10/07/2020 (C)		270		286

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Bonos de la Tesoreria de la Republica en Pesos
6.000%, 01/01/2020	CLP		80,000	$	140
6.000%, 01/01/2022	CLP		90,000		160
Empresa Electrica Angamos
4.875%, 05/25/2029 (C)			523		517
Empresa Nacional del Petroleo
6.250%, 07/08/2019 (C)			100		111
6.250%, 07/08/2019			50		56
5.250%, 08/10/2020 (C)			240		257
5.250%, 08/10/2020			100		107
4.375%, 10/30/2024 (C)			564		572
ENTEL Chile
4.875%, 10/30/2024 (C)			200		209
Nacional del Cobre de Chile
6.150%, 10/24/2036			1,748		2,117
5.625%, 09/21/2035			880		1,020
5.625%, 10/18/2043			250		291
4.875%, 11/04/2044 (C)			4,284		4,476
4.500%, 08/13/2023 (C)			1,152		1,238
3.875%, 11/03/2021 (C)			403		425
3.000%, 07/17/2022 (C)			1,415		1,396
Republic of Chile
5.500%, 08/05/2020	CLP		323,000		552
3.875%, 08/05/2020			1,207		1,317
3.125%, 03/27/2025			750		786
2.250%, 10/30/2022			3,981		3,951
VTR Finance
6.875%, 01/15/2024 (C)			776		805
					21,058
China — 1.1%
Amber Circle Funding
3.250%, 12/04/2022			850		854
CITIC
7.875%, 04/15/2049 (B)			183		191
6.800%, 01/17/2023			2,100		2,489
CNOOC Curtis Funding No. 1 Pty
4.500%, 10/03/2023			1,500		1,624
Country Garden Holdings
7.875%, 05/27/2019			674		700
7.250%, 04/04/2021			115		115
Sinochem Offshore Capital MTN
3.250%, 04/29/2019 (C)			1,432		1,468
Sinochem Overseas Capital
4.500%, 11/12/2020 (C)			1,606		1,728
4.500%, 11/12/2020			2,361		2,540
Sinopec Capital
3.125%, 04/24/2023 (C)			1,019		1,005
Sinopec Group Overseas Development
4.875%, 05/17/2042 (C)			300		332

36 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
4.375%, 04/10/2024 (C)			800	$	868
State Grid Overseas Investment
4.125%, 05/07/2024 (C)			1,216		1,317
					15,231
Colombia — 5.2%
Bogota Distrito Capital
9.750%, 07/26/2028 (C)	COP		8,820,000		4,193
9.750%, 07/26/2028	COP		370,000		176
Citigroup Funding, CLN (Republic of Colombia)
11.000%, 07/27/2020	COP		7,940,000		3,728
Colombian TES
11.250%, 10/24/2018	COP		69,800		32
11.000%, 07/24/2020	COP		227,500		107
10.000%, 07/24/2024	COP		2,909,100		1,345
7.750%, 09/18/2030	COP		15,068,700		5,822
7.500%, 08/26/2026	COP		4,030,200		1,575
7.000%, 09/11/2019	COP		1,593,400		642
7.000%, 05/04/2022	COP		864,000		340
7.000%, 05/04/2022	COP		580,000		228
7.000%, 05/04/2022	COP		22,627,000		8,896
6.000%, 04/28/2028	COP		12,792,700		4,285
Ecopetrol
5.875%, 05/28/2045			1,051		978
Emgesa ESP
8.750%, 01/25/2021	COP		1,450,000		603
Empresas Publicas de Medellin ESP
8.375%, 02/01/2021	COP		4,482,000		1,826
7.625%, 09/10/2024 (C)	COP		3,971,000		1,520
Financiera de Desarrollo Territorial Findeter
7.875%, 08/12/2024 (C)	COP		1,645,000		637
7.875%, 08/12/2024	COP		884,000		342
JPMorgan, CLN (Republic of Columbia)
7.000%, 05/04/2022	COP		2,087,000		821
Pacific Rubiales Energy
7.250%, 12/12/2021			2,171		1,443
5.125%, 03/28/2023 (C)			429		250
Republic of Colombia
12.000%, 10/22/2015	COP		1,531,000		615
12.000%, 10/22/2015	COP		1,484,000		596
11.750%, 02/25/2020			1,587		2,194
10.375%, 01/28/2033			360		564
9.850%, 06/28/2027	COP		5,078,000		2,529
9.850%, 06/28/2027	COP		777,000		387
8.125%, 05/21/2024			1,190		1,580
7.750%, 04/14/2021	COP		3,875,000		1,666
7.375%, 03/18/2019			2,046		2,417
7.375%, 09/18/2037			7,052		9,414
6.125%, 01/18/2041			1,485		1,760
5.625%, 02/26/2044			1,970		2,201
5.000%, 06/15/2045			1,732		1,780
4.375%, 07/12/2021			4,457		4,724

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
4.375%, 03/21/2023	COP		1,917,000	$	671
4.375%, 03/21/2023	COP		1,184,000		415
					73,302
Costa Rica — 0.8%
Banco Nacional de Costa Rica
6.250%, 11/01/2023 (C)			240		244
Instituto Costarricense de Electricidad
6.950%, 11/10/2021			400		421
6.375%, 05/15/2043			250		211
Republic of Costa Rica
7.158%, 03/12/2045			1,460		1,510
7.158%, 03/12/2045 (C)			1,237		1,271
7.000%, 04/04/2044			1,400		1,425
7.000%, 04/04/2044 (C)			2,305		2,345
4.375%, 04/30/2025 (C)			781		731
4.375%, 04/30/2025			702		657
4.250%, 01/26/2023			1,326		1,260
					10,075
Croatia — 0.5%
Government of Croatia
6.750%, 11/05/2019			790		876
6.625%, 07/14/2020			1,103		1,223
6.375%, 03/24/2021 (C)			1,636		1,803
6.250%, 04/27/2017 (C)			630		669
6.000%, 01/26/2024 (C)			1,677		1,856
6.000%, 01/26/2024			1,500		1,660
5.875%, 07/09/2018	EUR		150		178
					8,265
Dominican Republic — 1.2%
Dominican Republic
15.950%, 06/04/2021	DOP		3,800		108
11.500%, 05/10/2024	DOP		55,000		1,339
11.000%, 01/05/2018	DOP		6,320		144
11.000%, 07/30/2021 (C)	DOP		53,760		1,216
9.040%, 01/23/2018			1,192		1,284
8.625%, 04/20/2027			1,407		1,671
7.500%, 05/06/2021			3,049		3,409
7.500%, 05/06/2021 (C)			1,830		2,046
7.450%, 04/30/2044			1,015		1,144
7.450%, 04/30/2044 (C)			2,850		3,213
6.850%, 01/27/2045			400		421
6.850%, 01/27/2045 (C)			628		659
6.600%, 01/28/2024			882		959
5.875%, 04/18/2024 (C)			770		806
5.875%, 04/18/2024			210		220
					18,639
Ecuador — 0.8%
EP PetroEcuador via Noble Sovereign Funding I
5.897%, 09/24/2019 (B)			2,551		2,201

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 37

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Debt Fund (Continued)

March 31, 2015

Description	Face Amount (1) (Thousands)		Market Value ($ Thousands)
Republic of Ecuador
10.500%, 03/24/2020 (C)		2,050	$	2,062
9.375%, 12/15/2015		1,554		1,573
7.950%, 06/20/2024		5,350		4,721
				10,557
Egypt — 0.1%
Government of Egypt
6.875%, 04/30/2040		1,434		1,447
5.750%, 04/29/2020		450		475
5.750%, 04/29/2020 (C)		100		105
				2,027
El Salvador — 0.7%
Republic of El Salvador
8.250%, 04/10/2032		267		302
8.250%, 04/10/2032		513		581
7.750%, 01/24/2023		708		785
7.750%, 01/24/2023		802		889
7.650%, 06/15/2035		1,400		1,467
7.375%, 12/01/2019		400		435
6.375%, 01/18/2027 (C)		1,482		1,482
6.375%, 01/18/2027		1,769		1,769
5.875%, 01/30/2025 (C)		638		624
5.875%, 01/30/2025		991		970
Telemovil Finance
8.000%, 10/01/2017		476		495
				9,799
Ethiopia — 0.1%
Federal Democratic Republic of Ethiopia
6.625%, 12/11/2024 (C)		1,473		1,429
6.625%, 12/11/2024		600		583
				2,012
Gabon — 0.2%
Gabonese Republic
8.200%, 12/12/2017		490		513
6.375%, 12/12/2024		3,280		3,075
				3,588
Georgia — 0.2%
Georgian Railway JSC
7.750%, 07/11/2022		3,127		3,349
Ghana — 0.6%
Republic of Ghana
8.500%, 10/04/2017 (C)		300		307
8.125%, 01/18/2026 (C)		2,604		2,472
8.125%, 01/18/2026		4,304		4,086
7.875%, 08/07/2023		1,400		1,327
				8,192

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Guatemala — 0.1%
Comcel Trust
6.875%, 02/06/2024 (C)			1,090	$	1,161
Guatemala Government Bond
4.875%, 02/13/2028			509		526
					1,687
Honduras — 0.1%
Republic of Honduras
8.750%, 12/16/2020			1,018		1,129
Hong Kong — 0.1%
MCE Finance
5.000%, 02/15/2021 (C)			275		257
Shimao Property Holdings
8.125%, 01/22/2021			700		728
					985
Hungary — 4.2%
Magyar Export-Import Bank
4.000%, 01/30/2020 (C)			925		945
Republic of Hungary
7.750%, 08/24/2015	HUF		33,320		122
7.625%, 03/29/2041			6,928		10,018
7.500%, 11/12/2020	HUF		262,990		1,171
7.000%, 06/24/2022	HUF		2,741,600		12,221
6.750%, 11/24/2017	HUF		31,310		126
6.500%, 06/24/2019	HUF		1,033,860		4,297
6.375%, 03/29/2021			1,254		1,454
6.250%, 01/29/2020			770		876
6.000%, 11/24/2023	HUF		306,320		1,323
5.750%, 11/22/2023			4,358		5,012
5.500%, 12/22/2016	HUF		555,220		2,115
5.500%, 12/20/2018	HUF		94,460		376
5.500%, 06/24/2025	HUF		1,666,990		7,071
5.375%, 02/21/2023			3,127		3,494
5.375%, 03/25/2024			536		601
5.000%, 03/30/2016	GBP		227		348
4.125%, 02/19/2018			3,504		3,663
4.000%, 04/25/2018	HUF		174,740		658
4.000%, 03/25/2019			1,856		1,936
3.500%, 06/24/2020	HUF		121,180		452
					58,279
India — 0.1%
Export-Import Bank of India MTN
4.000%, 08/07/2017			200		209
Reliance Industries
4.875%, 02/10/2045 (C)			250		234
Vedanta Resources
8.250%, 06/07/2021 (C)			30		27
7.125%, 05/31/2023 (C)			160		133
6.000%, 01/31/2019 (C)			419		373
					976

38 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Indonesia — 8.7%
Deutsche Bank, CLN (Republic of Indonesia)
7.000%, 05/15/2022	IDR		2,300,000	$	172
7.000%, 05/15/2027	IDR		2,300,000		168
6.625%, 05/15/2033	IDR		2,300,000		156
Deutsche Bank MTN
7.000%, 05/17/2022	IDR		9,000,000		673
Genel Energy Finance
7.500%, 05/14/2019			1,000		885
JPMorgan, CLN (Republic of Indonesia)
7.000%, 05/15/2022	IDR		105,300,000		7,888
6.625%, 05/15/2033	IDR		3,100,000		210
Majapahit Holding
8.000%, 08/07/2019			470		553
7.875%, 06/29/2037 (C)			205		262
7.750%, 01/20/2020			894		1,054
Pelabuhan Indonesia III
4.875%, 10/01/2024			1,659		1,739
4.875%, 10/01/2024 (C)			200		210
Pertamina Persero MTN
6.500%, 05/27/2041 (C)			380		408
6.450%, 05/30/2044 (C)			1,432		1,539
6.000%, 05/03/2042 (C)			935		947
6.000%, 05/03/2042			340		344
5.625%, 05/20/2043			3,882		3,770
5.250%, 05/23/2021 (C)			500		532
4.875%, 05/03/2022 (C)			220		229
Republic of Indonesia MTN
12.800%, 06/15/2021	IDR		210,000		20
11.625%, 03/04/2019 (C)			975		1,299
11.625%, 03/04/2019			1,674		2,231
11.625%, 03/04/2019			80		107
11.000%, 09/15/2025	IDR		3,200,000		306
9.000%, 03/15/2029	IDR		128,485,000		11,016
8.500%, 10/12/2035			1,000		1,444
8.500%, 10/12/2035			1,969		2,843
8.375%, 03/15/2024	IDR		196,184,000		15,942
8.375%, 09/15/2026	IDR		580,000		47
8.375%, 03/15/2034	IDR		126,780,000		10,288
8.250%, 06/15/2032	IDR		17,369,000		1,388
7.875%, 04/15/2019	IDR		44,866,000		3,510
7.750%, 01/17/2038			1,478		2,018
7.750%, 01/17/2038			7,418		10,126
7.000%, 05/15/2022	IDR		59,080,000		4,426
6.875%, 01/17/2018			2,004		2,260
6.750%, 01/15/2044			700		895
6.750%, 01/15/2044 (C)			1,650		2,110
6.625%, 05/15/2033	IDR		30,376,000		2,062
6.625%, 02/17/2037			210		255
6.625%, 02/17/2037			1,426		1,729
6.125%, 05/15/2028	IDR		26,020,000		1,748
5.875%, 03/13/2020 (C)			224		253

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
5.875%, 01/15/2024			2,876	$	3,325
5.625%, 05/15/2023	IDR		44,408,000		3,035
5.250%, 01/17/2042			1,029		1,079
5.125%, 01/15/2045 (C)			2,064		2,167
4.875%, 05/05/2021			1,051		1,144
4.875%, 05/05/2021 (C)			200		218
4.125%, 01/15/2025			5,081		5,214
3.375%, 04/15/2023 (C)			1,939		1,900
2.875%, 07/08/2021 (C)	EUR		594		671
					118,815
Iraq — 0.4%
Republic of Iraq
5.800%, 01/15/2028			6,807		5,684
Israel — 0.0%
Altice Financing
8.000%, 12/15/2019	EUR		400		462
Italy — 0.0%
Wind Acquisition Finance
4.750%, 07/15/2020 (C)			49		49
Ivory Coast — 1.2%
Ivory Coast Government Bond
11.660%, 12/31/2032			3,413		3,243
6.375%, 03/03/2028 (C)			2,420		2,384
5.750%, 12/31/2032			1,100		1,045
5.750%, 12/31/2032			7,396		7,027
5.375%, 07/23/2024 (C) (F)			3,013		2,847
					16,546
Jamaica — 0.5%
Digicel Group
8.250%, 09/30/2020			2,200		2,203
7.125%, 04/01/2022 (C)			967		885
Governmenet of Jamaica
7.625%, 07/09/2025			3,108		3,450
					6,538
Kazakhstan — 2.5%
Development Bank of Kazakhstan
4.125%, 12/10/2022			770		656
Halyk Savings Bank of Kazakhstan
7.250%, 01/28/2021 (C)			400		388
7.250%, 01/28/2021			200		194
KazAgro National Management Holding
4.625%, 05/24/2023			3,830		3,248
Kazakhstan Temir Zholy Finance
6.950%, 07/10/2042 (C)			250		229
Kazatomprom Natsionalnaya Atomnaya Kompaniya
6.250%, 05/20/2015 (C)			450		448

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 39

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Debt Fund (Continued)

March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
6.250%, 05/20/2015			100	$	100
KazMunayGas National
9.125%, 07/02/2018 (C)			2,342		2,543
9.125%, 07/02/2018			1,248		1,355
7.000%, 05/05/2020 (C)			930		945
6.375%, 04/09/2021 (C)			6,341		6,322
6.375%, 04/09/2021			365		364
6.000%, 11/07/2044 (C)			2,118		1,721
5.750%, 04/30/2043			9,024		7,086
5.750%, 04/30/2043 (C)			3,133		2,438
4.875%, 05/07/2025 (C)			1,026		893
4.400%, 04/30/2023 (C)			1,509		1,324
4.400%, 04/30/2023			1,022		884
Nostrum Oil & Gas Finance
6.375%, 02/14/2019 (C)			418		360
Republic of Kazakhstan
6.375%, 10/06/2020 (C)			600		595
3.875%, 10/14/2024 (C)			1,588		1,467
Samruk-Energy JSC MTN
3.750%, 12/20/2017			500		469
Zhaikmunai Via Zhaikmunai International
7.125%, 11/13/2019 (C)			425		364
					34,393
Kenya — 0.6%
Kenya Government International Bond
6.875%, 06/24/2024 (C)			3,822		3,991
6.875%, 06/24/2024			403		421
5.875%, 06/24/2019 (C)			1,295		1,337
Kenya Infrastructure Bond
11.000%, 09/15/2025	KES		230,000		2,469
					8,218
Latvia — 0.1%
Republic of Latvia
2.750%, 01/12/2020			670		681
Lithuania — 0.1%
Republic of Lithuania
7.375%, 02/11/2020			462		566
6.625%, 02/01/2022			200		249
6.125%, 03/09/2021 (C)			1,424		1,701
					2,516
Malaysia — 4.9%
Malaysia Government Bond
5.248%, 09/15/2028 (C)	MYR		1,050		315
4.935%, 09/30/2043	MYR		6,200		1,765
4.498%, 04/15/2030	MYR		1,240		348
4.392%, 04/15/2026	MYR		10,601		2,965
4.378%, 11/29/2019	MYR		1,353		377
4.262%, 09/15/2016	MYR		21,410		5,867

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
4.181%, 07/15/2024	MYR		26,707	$	7,348
4.160%, 07/15/2021	MYR		4,769		1,316
4.048%, 09/30/2021	MYR		4,330		1,188
4.012%, 09/15/2017	MYR		15,500		4,251
3.892%, 03/15/2027	MYR		1,369		365
3.889%, 07/31/2020	MYR		6,983		1,902
3.844%, 04/15/2033	MYR		1,770		452
3.835%, 08/12/2015	MYR		4,097		1,109
3.654%, 10/31/2019	MYR		11,780		3,190
3.580%, 09/28/2018	MYR		4,747		1,287
3.502%, 05/31/2027	MYR		1,050		268
3.492%, 03/31/2020	MYR		22,299		5,963
3.480%, 03/15/2023	MYR		14,448		3,798
3.418%, 08/15/2022	MYR		8,999		2,365
3.394%, 03/15/2017	MYR		2,495		674
3.314%, 10/31/2017	MYR		22,180		5,985
3.260%, 03/01/2018	MYR		18,210		4,894
3.197%, 10/15/2015	MYR		8,823		2,384
3.172%, 07/15/2016	MYR		11,720		3,161
Malaysia Government Investment
4.444%, 05/22/2024	MYR		11,600		3,224
Petronas Capital MTN
3.500%, 03/18/2025 (C)			2,829		2,864
					69,625
Mexico — 8.6%
America Movil
7.125%, 12/09/2024	MXN		18,110		1,174
6.000%, 06/09/2019	MXN		12,420		815
BBVA Bancomer
6.750%, 09/30/2022 (C)			500		565
Cemex
6.500%, 12/10/2019			550		583
6.125%, 05/05/2025 (C)			1,241		1,253
5.700%, 01/11/2025 (C)			147		145
Cemex Espana Luxembourg
9.875%, 04/30/2019			950		1,057
Cemex Finance
9.375%, 10/12/2022 (C)			618		701
6.000%, 04/01/2024 (C)			77		77
Comision Federal de Electricidad
5.750%, 02/14/2042 (C)			500		555
4.875%, 01/15/2024 (C)			237		252
Fermaca Enterprises S de RL
6.375%, 03/30/2038 (C)			361		378
Mexican Bonos, Ser M
6.500%, 06/10/2021	MXN		55,301		3,798
Mexican Bonos, Ser M10
8.500%, 12/13/2018	MXN		12,020		883
8.000%, 12/17/2015	MXN		37,960		2,573
7.750%, 12/14/2017	MXN		56,188		3,986
7.250%, 12/15/2016	MXN		37,764		2,615
Mexican Bonos, Ser M20
10.000%, 12/05/2024	MXN		106,300		9,062

40 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
8.500%, 05/31/2029	MXN		5,093	$	404
8.000%, 12/07/2023	MXN		50,128		3,754
7.750%, 05/29/2031	MXN		73,086		5,454
Mexican Bonos, Ser M30
10.000%, 11/20/2036	MXN		8,900		825
8.500%, 11/18/2038	MXN		67,335		5,504
Mexican Bonos
7.750%, 11/13/2042	MXN		3,280		250
7.750%, 11/23/2034	MXN		180		14
7.500%, 06/03/2027	MXN		39,023		2,843
6.500%, 06/09/2022	MXN		70,487		4,837
6.250%, 06/16/2016	MXN		123,966		8,374
6.000%, 06/18/2015	MXN		5,099		337
5.000%, 06/15/2017	MXN		39,491		2,643
Mexican Udibonos
4.500%, 11/22/2035	MXN		6,348		2,578
2.500%, 12/10/2020	MXN		6,273		2,182
2.000%, 06/09/2022	MXN		1,471		486
Mexico Cetes
0.000%, 03/03/2016 (E)	MXN		373,010		2,373
Petroleos Mexicanos
7.190%, 09/12/2024	MXN		44,250		2,861
6.625%, 06/15/2035			3,450		3,950
6.500%, 06/02/2041			572		648
6.375%, 01/23/2045 (C)			806		901
4.250%, 01/15/2025 (C)			560		568
3.500%, 01/30/2023 (C)			185		181
Petroloes Mexicanos
5.625%, 01/23/2046			1,193		1,211
Sixsigma Networks Mexico
8.250%, 11/07/2021 (C)			465		486
Trust F
5.250%, 12/15/2024 (C) (G)			1,080		1,161
United Mexican States MTN
7.500%, 04/08/2033			336		478
6.050%, 01/11/2040			1,548		1,920
5.750%, 10/12/2110			468		510
5.550%, 01/21/2045			7,439		8,722
4.750%, 03/08/2044			2,218		2,329
4.600%, 01/23/2046			4,181		4,275
4.000%, 10/02/2023			2,012		2,129
3.600%, 01/30/2025			8,831		9,063
United Mexican States, Ser A MTN
6.750%, 09/27/2034			3,474		4,638
					119,361
Mongolia — 0.6%
Development Bank of Mongolia MTN
5.750%, 03/21/2017			902		846
Mongolia Government Bond MTN
5.125%, 12/05/2022			4,632		3,891

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
5.125%, 12/05/2022			481	$	404
4.125%, 01/05/2018			2,556		2,326
					7,467
Montenegro — 0.0%
Republic of Montenegro
7.875%, 09/14/2015	EUR		120		132
5.375%, 05/20/2019	EUR		399		454
					586
Morocco — 0.1%
Kingdom of Morocco
5.500%, 12/11/2042			900		1,001
5.500%, 12/11/2042 (C)			200		223
4.250%, 12/11/2022 (C)			287		297
OCP
5.625%, 04/25/2024 (C)			305		332
					1,853
Mozambique — 0.1%
EMATUM Via Mozambique EMATUM Finance 2020
6.305%, 09/11/2020			845		811
Nigeria — 0.5%
Nigeria Treasury Bill
12.527%, 05/07/2015 (E)	NGN		12,900		64
Republic of Nigeria
16.390%, 01/27/2022	NGN		111,580		594
16.000%, 06/29/2019	NGN		168,722		873
15.100%, 04/27/2017	NGN		23,192		116
14.200%, 03/14/2024	NGN		124,767		599
6.750%, 01/28/2021 (C)			550		564
6.750%, 01/28/2021			1,922		1,970
6.375%, 07/12/2023			2,200		2,209
					6,989
Pakistan — 0.3%
Republic of Pakistan
8.250%, 04/15/2024			4,150		4,374
7.250%, 04/15/2019 (C)			500		515
7.125%, 03/31/2016			500		511
6.875%, 06/01/2017			430		440
6.875%, 06/01/2017			100		103
					5,943
Panama — 0.8%
Panama Notas del Tesoro
4.875%, 02/05/2021			704		751
Republic of Panama
9.375%, 01/16/2023			560		775
9.375%, 04/01/2029			1,856		2,840
8.875%, 09/30/2027			270		397

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 41

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Debt Fund (Continued)

March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
8.125%, 04/28/2034			2,128	$	3,022
7.125%, 01/29/2026			100		130
6.700%, 01/26/2036			1,733		2,270
4.300%, 04/29/2053			130		125
4.000%, 09/22/2024			380		398
3.750%, 03/16/2025			557		571
					11,279
Paraguay — 0.7%
Republic of Paraguay
6.100%, 08/11/2044			861		945
6.100%, 08/11/2044 (C)			2,253		2,473
4.625%, 01/25/2023 (C) (F)			737		759
4.625%, 01/25/2023 (F)			3,216		3,312
Telefonica Celular del Paraguay
6.750%, 12/13/2022			200		205
6.750%, 12/13/2022			200		205
					7,899
Peru — 1.9%
Abengoa Transmision Sur
6.875%, 04/30/2043 (C)			273		308
BBVA Banco Continental
5.250%, 09/22/2029 (B) (C)			651		661
Peru Enhanced Pass-Through Finance
4.648%, 06/02/2025 (C) (E)			1,000		748
2.265%, 05/31/2018 (E)			94		90
2.007%, 05/31/2018 (C) (E)			254		242
Republic of Peru
9.910%, 05/05/2015	PEI		675		219
8.750%, 11/21/2033			4,077		6,477
8.200%, 08/12/2026	PEI		4,268		1,616
7.350%, 07/21/2025			1,969		2,678
7.125%, 03/30/2019			2,073		2,477
6.950%, 08/12/2031	PEI		9,612		3,189
6.950%, 08/12/2031	PEI		7,241		2,403
6.850%, 02/12/2042	PEI		613		200
6.550%, 03/14/2037			372		495
5.700%, 08/12/2024	PEI		3,584		1,138
5.700%, 08/12/2024 (C)	PEI		10,512		3,350
5.625%, 11/18/2050			516		631
					26,922
Philippines — 0.2%
Development Bank of Philippines
5.500%, 03/25/2021			330		365
National Power
9.625%, 05/15/2028			1,100		1,716
Republic of Philippines
3.900%, 11/26/2022	PHP		45,000		1,012
					3,093

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Poland — 2.4%
Republic of Poland
5.250%, 10/25/2020	PLN		3,789	$	1,170
5.000%, 04/25/2016	PLN		3,160		863
4.750%, 04/25/2017	PLN		1,810		508
4.000%, 10/25/2023	PLN		4,756		1,431
4.000%, 01/22/2024			682		749
3.250%, 07/25/2019	PLN		4,238		1,181
3.250%, 07/25/2025	PLN		14,474		4,145
3.000%, 08/24/2016	PLN		9,125		2,472
2.750%, 08/25/2023	PLN		17,418		5,233
2.500%, 07/25/2018	PLN		4,970		1,341
1.744%, 01/25/2016 (E)	PLN		9,730		2,534
Republic of Poland, Ser 0922
5.750%, 09/23/2022	PLN		16,627		5,472
Republic of Poland, Ser 1017
5.250%, 10/25/2017	PLN		7,330		2,106
Republic of Poland, Ser 1019
5.500%, 10/25/2019	PLN		7,966		2,433
Republic of Poland, Ser 1021
5.750%, 10/25/2021	PLN		886		286
					31,924
Qatar — 0.1%
Ooredoo International Finance
7.875%, 06/10/2019			665		813
Romania — 1.6%
Government of Romania MTN
6.750%, 02/07/2022			3,124		3,780
6.750%, 02/07/2022 (C)			350		424
6.125%, 01/22/2044			690		878
5.950%, 06/11/2021	RON		21,870		6,282
5.850%, 04/26/2023	RON		3,370		977
5.750%, 04/29/2020	RON		810		227
4.875%, 01/22/2024			126		140
4.875%, 01/22/2024 (C)			1,424		1,575
4.750%, 08/29/2016	RON		8,980		2,276
4.750%, 06/24/2019	RON		2,835		755
4.750%, 02/24/2025	RON		5,190		1,421
4.375%, 08/22/2023			1,462		1,564
					20,299
Russia — 5.9%
Alfa Bank Via Alfa Bond Issuance
7.750%, 04/28/2021			1,500		1,468
7.500%, 09/26/2019			750		695
Gaz Capital
6.510%, 03/07/2022 (C)			224		216
Gazprom Neft OAO Via GPN Capital
6.000%, 11/27/2023 (C)			480		414
Gazprom OAO Via Gaz Capital
9.250%, 04/23/2019			1,005		1,079

42 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
9.250%, 04/23/2019 (C)			381	$	409
4.950%, 07/19/2022 (C)			157		141
4.300%, 11/12/2015 (C)			533		532
Lukoil International Finance
3.416%, 04/24/2018 (C)			180		166
Ritekro
14.061%, 11/07/2022 (E) (I) (J)			914		457
Russian Federal Bond - OFZ
8.150%, 02/03/2027	RUB		34,254		458
7.600%, 04/14/2021	RUB		614,834		8,605
7.600%, 07/20/2022	RUB		415,187		5,668
7.500%, 03/15/2018	RUB		314,454		4,815
7.500%, 02/27/2019	RUB		455,192		6,766
7.400%, 04/19/2017	RUB		93,640		1,477
7.400%, 06/14/2017	RUB		52,000		816
7.350%, 01/20/2016	RUB		80,000		1,329
7.050%, 01/19/2028	RUB		136,006		1,632
7.000%, 01/25/2023	RUB		233,026		3,047
7.000%, 08/16/2023	RUB		193,574		2,514
6.900%, 08/03/2016	RUB		48,434		784
6.800%, 12/11/2019	RUB		86,684		1,218
6.700%, 05/15/2019	RUB		19,518		282
6.545%, 12/03/2014 (D)	RUB		22,770		306
6.400%, 05/27/2020	RUB		17,800		243
6.200%, 01/31/2018	RUB		304,954		4,533
Russian Federation Registered
7.500%, 03/31/2030	USD		2,150		2,466
Russian Foreign Bond - Eurobond
7.850%, 03/10/2018	RUB		120,000		1,856
7.500%, 03/31/2030			4,320		4,956
5.625%, 04/04/2042			2,200		2,090
5.000%, 04/29/2020			9,200		9,211
4.875%, 09/16/2023 (C)			1,200		1,155
4.875%, 09/16/2023			1,400		1,347
4.500%, 04/04/2022			200		191
3.500%, 01/16/2019			200		192
3.250%, 04/04/2017			1,200		1,200
Sistema Via Sistema International Funding
6.950%, 05/17/2019			1,000		900
6.950%, 05/17/2019			500		450
VEB-Leasing Via VEB Leasing Investment
5.125%, 05/27/2016			320		315
Vimpel Communications Via VIP Finance Ireland
7.748%, 02/02/2021 (C)			88		86
VimpelCom Holdings
7.504%, 03/01/2022 (C)			310		294
5.950%, 02/13/2023 (C)			95		82
5.200%, 02/13/2019 (C)			500		457
Vnesheconombank Via VEB Finance
6.902%, 07/09/2020			1,310		1,199

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
6.800%, 11/22/2025			2,205	$	1,847
6.800%, 11/22/2025 (C)			150		126
5.450%, 11/22/2017 (C)			400		383
					80,873
Senegal — 0.5%
Republic of Senegal
8.750%, 05/13/2021			790		882
8.750%, 05/13/2021 (C)			540		603
6.250%, 07/30/2024			5,220		5,087
6.250%, 07/30/2024 (C)			426		415
					6,987
Serbia — 0.3%
Republic of Serbia
7.250%, 09/28/2021 (C)			200		230
7.250%, 09/28/2021			2,569		2,961
5.875%, 12/03/2018			1,297		1,375
5.875%, 12/03/2018 (C)			530		562
4.875%, 02/25/2020			200		205
					5,333
Singapore — 0.4%
ABJA Investment Pte
5.950%, 07/31/2024			472		489
Singapore Government Bond
3.375%, 09/01/2033	SGD		1,530		1,212
3.000%, 09/01/2024	SGD		5,718		4,421
					6,122
Slovak Republic — 0.1%
Slovakia Government International Bond
4.375%, 05/21/2022			617		690
Slovenia — 0.9%
Slovenia Government International Bond
5.850%, 05/10/2023			1,800		2,129
5.250%, 02/18/2024 (C)			1,151		1,321
5.250%, 02/18/2024			5,680		6,519
4.125%, 02/18/2019			900		952
					10,921
South Africa — 5.2%
Eskom Holdings
7.125%, 02/11/2025 (C)			5,531		5,572
6.750%, 08/06/2023			1,100		1,095
6.750%, 08/06/2023 (C)			1,289		1,283
Republic of South Africa
10.500%, 12/21/2026	ZAR		31,520		3,136
8.750%, 01/31/2044	ZAR		23,470		1,999
8.750%, 02/28/2048	ZAR		36,920		3,164

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 43

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Debt Fund (Continued)

March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
8.250%, 09/15/2017	ZAR		29,822	$	2,537
8.250%, 03/31/2032	ZAR		70,090		5,690
8.000%, 12/21/2018	ZAR		47,730		4,058
8.000%, 01/31/2030	ZAR		110,506		8,992
7.750%, 02/28/2023	ZAR		25,582		2,131
7.250%, 01/15/2020	ZAR		123,307		10,165
7.000%, 02/28/2031	ZAR		40,180		2,960
6.875%, 05/27/2019			580		667
6.750%, 03/31/2021	ZAR		31,200		2,497
6.500%, 02/28/2041	ZAR		23,065		1,531
6.250%, 03/31/2036	ZAR		42,260		2,776
5.875%, 09/16/2025			7,137		8,173
Transnet SOC
9.500%, 05/13/2021 (C)	ZAR		13,360		1,112
4.000%, 07/26/2022 (C)			1,119		1,089
ZAR Sovereign Capital Fund Propriety
3.903%, 06/24/2020 (C)			1,046		1,072
					71,699
Sri Lanka — 0.2%
Bank of Ceylon
6.875%, 05/03/2017 (C)			320		328
Republic of Sri Lanka
6.250%, 10/04/2020 (C)			694		717
5.875%, 07/25/2022 (C)			724		734
					1,779
Supra-National — 0.2%
European Investment Bank MTN
8.500%, 09/17/2024	ZAR		9,200		767
Inter-American Development Bank MTN
7.350%, 09/12/2018	IDR		20,140,000		1,511
					2,278
Thailand — 3.0%
PTT Exploration & Production
4.875%, 06/18/2019 (B) (C)			1,544		1,548
Thailand Government Bond
5.670%, 03/13/2028	THB		3,000		119
4.875%, 06/22/2029	THB		4,979		186
3.875%, 06/13/2019	THB		322,400		10,576
3.850%, 12/12/2025	THB		119,000		4,044
3.650%, 12/17/2021	THB		202,950		6,691
3.625%, 06/16/2023	THB		357,100		11,798
3.580%, 12/17/2027	THB		62,700		2,057
3.250%, 06/16/2017	THB		35,200		1,116
1.250%, 03/12/2028	THB		23,271		647
1.200%, 07/14/2021	THB		71,291		2,098
					40,880

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
Trinidad & Tobago — 0.1%
Republic of Trinidad & Tobago
4.375%, 01/16/2024 (C)			1,305	$	1,393
Tunisia — 0.1%
Banque Centrale de Tunisie
5.750%, 01/30/2025 (C)			1,298		1,321
Turkey — 6.6%
Export Credit Bank of Turkey
5.875%, 04/24/2019 (C)			200		210
5.000%, 09/23/2021 (C)			538		539
Finansbank
6.250%, 04/30/2019 (C)			1,342		1,364
Republic of Turkey
11.875%, 01/15/2030			900		1,587
10.700%, 02/24/2016	TRY		3,230		1,263
10.500%, 01/15/2020	TRY		7,900		3,318
10.400%, 03/27/2019	TRY		3,560		1,466
10.400%, 03/20/2024	TRY		2,250		979
9.500%, 01/12/2022	TRY		8,610		3,515
9.000%, 01/27/2016	TRY		10,200		3,926
9.000%, 03/08/2017	TRY		10,845		4,236
9.000%, 07/24/2024	TRY		19,487		7,828
8.800%, 11/14/2018	TRY		2,160		844
8.500%, 07/10/2019	TRY		25,267		9,799
8.500%, 09/14/2022	TRY		13,148		5,109
8.300%, 10/07/2015	TRY		5,088		1,954
8.300%, 06/20/2018	TRY		12,221		4,702
8.200%, 07/13/2016	TRY		8,477		3,244
8.000%, 02/14/2034			1,350		1,849
7.375%, 02/05/2025			3,051		3,786
7.250%, 03/05/2038			200		259
7.100%, 03/08/2023	TRY		10,560		3,782
7.000%, 06/05/2020			3,187		3,681
6.875%, 03/17/2036			4,812		5,960
6.750%, 04/03/2018			1,374		1,522
6.750%, 05/30/2040			2,888		3,574
6.625%, 02/17/2045 (F)			2,241		2,773
6.300%, 02/14/2018	TRY		1,090		399
6.250%, 09/26/2022			2,867		3,261
6.000%, 01/14/2041			1,786		2,030
5.625%, 03/30/2021			1,912		2,091
5.125%, 03/25/2022			573		611
3.250%, 03/23/2023 (F)			539		510
TC Ziraat Bankasi
4.250%, 07/03/2019 (C)			1,440		1,426
					93,397
Ukraine — 0.1%
Government of Ukraine
9.250%, 07/24/2017			2,760		1,093
9.250%, 07/24/2017 (C)			403		160

44 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Description		Face Amount (1) (Thousands)		Market Value ($ Thousands)
6.580%, 11/21/2016			195	$	77
6.580%, 11/21/2016			47		19
					1,349
Uruguay — 0.6%
Republic of Uruguay
7.625%, 03/21/2036			1,270		1,798
5.100%, 06/18/2050			3,273		3,404
4.500%, 08/14/2024			632		685
Republic of Uruguay PIK
7.875%, 01/15/2033			1,780		2,527
					8,414
Venezuela — 2.6%
Petroleos de Venezuela
9.750%, 05/17/2035			1,439		548
9.000%, 11/17/2021			4,038		1,498
8.500%, 11/02/2017			11,271		7,439
8.500%, 11/02/2017			7,016		4,630
6.000%, 05/16/2024			7,501		2,429
6.000%, 05/16/2024			2,136		681
6.000%, 11/15/2026			1,040		324
5.250%, 04/12/2017			6,883		2,822
5.250%, 04/12/2017			156		64
Republic of Venezuela
13.625%, 08/15/2018			144		84
13.625%, 08/15/2018			1,716		1,107
12.750%, 08/23/2022			3,996		1,748
11.950%, 08/05/2031			1,420		578
11.750%, 10/21/2026			2,515		1,012
9.250%, 09/15/2027			1,313		524
9.250%, 05/07/2028			2,445		874
9.000%, 05/07/2023			20		7
9.000%, 05/07/2023			500		179
8.250%, 10/13/2024			500		173
8.250%, 10/13/2024			7,020		2,422
7.750%, 10/13/2019			4,415		1,589
7.650%, 04/21/2025			290		98
5.750%, 02/26/2016 (F)			6,880		5,280
					36,110
Vietnam — 0.1%
Republic of Vietnam
6.750%, 01/29/2020			439		495
4.800%, 11/19/2024 (C)			1,026		1,068
					1,563
Zambia — 0.4%
Republic of Zambia
10.000%, 09/03/2015	ZMW		2,210		273
8.500%, 04/14/2024			975		1,034
5.375%, 09/20/2022			2,360		2,154

Description		Face Amount (1) (Thousands)/Shares		Market Value ($ Thousands)
Republic of Zambia Treasury Bills
22.047%, 08/24/2015 (E)	ZMW		1,755	$	209
18.792%, 09/21/2015 (E)	ZMW		12,000		1,409
					5,079
Total Global Bonds (Cost $1,396,168) ($ Thousands)					1,284,327
LOAN PARTICIPATIONS — 0.4%
Singapore — 0.4%
Ashmore Cayman SPC, No. 1
0.000%, 08/31/2011 (A) (I) (J)			9,161		4,820
Morton Bay
6.220%, 12/31/2013 (I) (J)			3,158		300
Total Loan Participations (Cost $12,373) ($ Thousands)					5,120
AFFILIATED PARTNERSHIP — 0.8%
SEI Liquidity Fund, L.P.
0.070%†* (H)			11,262,798		11,263
Total Affiliated Partnership (Cost $11,263) ($ Thousands)					11,263
TIME DEPOSITS — 4.5%
Brown Brothers Harriman
4.800%, 04/01/2015	ZAR		4,509		372
0.074%, 04/01/2015	GBP		11		17
0.030%, 04/01/2015			61,443		61,443
0.005%, 04/01/2015	SGD		1		—
(0.198)%, 04/01/2015	EUR		1		1
Total Time Deposits (Cost $61,833) ($ Thousands)					61,833
Total Investments — 98.5% (Cost $1,481,637) ($ Thousands)				$	1,362,543

A list of the open futures contracts held by the Fund at March 31, 2015, is as follows:

Type of Contract	Number of Contracts Long (Short)			Expiration Date		Unrealized Appreciation (Depreciation) ($ Thousands)
JSE Bond Future		166			May-2015	$	(101	)
JSE Yield-X		844			May-2015		(253	)
Korea 10-Year Bond		(40	)		Jun-2015		(69	)
U.S. 10-Year Treasury Note		43			Jun-2015		37
U.S. 10-Year Treasury Note		(88	)		Jun-2015		(94	)
U.S. 2-Year Treasury Note		15			Jun-2015		7
U.S. 2-Year Treasury Note		(242	)		Jun-2015		(80	)
U.S. 5-Year Treasury Note		(453	)		Jun-2015		(402	)
U.S. Treasury Long Bond		(16	)		Jun-2015		(70	)
						$	(1,025	)

For the six months ended March 31, 2015, the total amount of all open future contracts, as presented in the table above, are representative of the volume of activity for this derivative type during the six months.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 45

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Debt Fund (Continued)

March 31, 2015

A list of the open forward foreign currency contracts held by the Fund at March 31, 2015, is as follows:

Settlement Date	Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) ($ Thousands)
04/02/2015-06/10/2015		BRL	135,888		USD	46,755	$	4,770
04/02/2015-06/10/2015		USD	36,129		BRL	113,743		(1,090	)
04/06/2015-05/04/2015		USD	12,111		COP	30,743,835		(308	)
04/06/2015-06/17/2015		COP	52,726,279		USD	21,001		771
04/06/2015-10/28/2015		TRY	118,484		USD	46,201		976
04/06/2015-10/28/2015		USD	65,554		TRY	165,368		(2,522	)
04/07/2015-05/08/2015		USD	3,726		PEI	11,502		(18	)
04/07/2015-06/17/2015		EUR	42,103		USD	46,819		1,586
04/07/2015-06/17/2015		PEI	50,725		USD	16,242		35
04/07/2015-06/17/2015		USD	71,600		EUR	65,254		(1,491	)
04/07/2015-06/17/2015		USD	13,061		ZAR	159,971		37
04/07/2015-06/29/2015		EUR	25,674		PLN	107,314		698
04/08/2015-06/17/2015		USD	22,522		INR	1,422,451		(5	)
04/09/2015		CZK	119,983		EUR	4,328		(29	)
04/09/2015		EUR	4,401		CZK	119,983		(49	)
04/13/2015		CLP	5,128,258		USD	8,197		(24	)
04/13/2015		GBP	245		USD	376		13
04/13/2015-06/17/2015		USD	17,640		CLP	11,021,850		(20	)
04/14/2015		EUR	3,812		RON	16,940		27
04/14/2015-04/27/2015		RON	40,771		EUR	9,201		(35	)
04/14/2015-05/11/2015		PLN	34,832		EUR	8,290		(277	)
04/15/2015-05/20/2015		RUB	1,084,901		USD	17,444		(1,108	)
04/15/2015-05/20/2015		USD	12,034		RUB	731,529		425
04/15/2015-06/17/2015		USD	9,962		CNY	61,995		(12	)
04/15/2015-09/30/2015		TWD	599,286		USD	18,862		(300	)
04/16/2015		INR	187,887		USD	2,970		(23	)
04/16/2015-05/06/2015		USD	6,307		THB	207,392		60
04/16/2015-06/02/2015		USD	9,275		KRW	10,438,224		132
04/16/2015-06/17/2015		THB	446,986		USD	13,659		(60	)
04/16/2015-06/26/2015		KRW	18,062,990		USD	16,416		135
04/27/2015		PLN	9,011		USD	2,458		82
04/27/2015-06/17/2015		USD	26,263		PLN	97,580		(558	)
05/04/2015-06/17/2015		HUF	2,081,667		USD	7,616		164
05/04/2015/06/17/2015		MXN	366,699		USD	23,970		(22	)
05/04/2015/06/17/2015		USD	2,436		HUF	664,124		(59	)
05/04/2015/06/17/2015		USD	31,801		MXN	488,492		158
05/04/2015/06/17/2015		ZAR	158,434		USD	12,961		22
05/05/2015		AUD	6,330		USD	4,918		93
05/05/2015		USD	4,829		AUD	6,330		(4	)
05/07/2015-06/17/2015		MYR	24,351		USD	6,586		42
05/18/2015		USD	2,461		SGD	3,420		30
05/18/2015-06/17/2015		SGD	30,182		USD	22,085		111
05/18/2015-06/17/2015		USD	7,384		PHP	327,304		(90	)
05/19/2015		EUR	9,548		HUF	2,881,677		59
05/19/2015-06/18/2015		HUF	3,757,546		EUR	12,245		(293	)
05/20/2015-12/04/2015		NGN	292,433		USD	1,416		(11	)
05/26/2015-06/17/2015		ILS	81,652		USD	20,664		123
05/26/2015-06/17/2015		USD	50,744		CNH	330,181		1,799
06/03/2015-11/20/2015		IDR	82,674,712		USD	6,174		77
06/03/2015-11/20/2015		USD	18,884		IDR	251,045,378		(184	)
06/05/2015-06/17/2015		USD	3,147		MYR	11,615		(27	)
06/17/2015		CZK	15,606		USD	610		1
06/17/2015		RON	21,890		USD	5,451		130
06/17/2015-06/25/2015		USD	4,712		RON	19,319		(16	)
06/17/2015-07/07/2015		USD	8,940		TWD	280,021		14
07/10/2015-09/15/2015		CNH	266,037		USD	40,480		(1,867	)
02/26/2016-03/23/2016		USD	5,364		NGN	1,400,000		1,223
							$	3,291

A list of the counterparties for the open forward foreign currency contracts held by the Fund at March 31, 2015, is as follows:

Counterparty	Currency to Deliver ($ Thousands)			Currency to Receive ($ Thousands)		Unrealized Appreciation (Depreciation) ($ Thousands)
Bank of America	$	(939	)	$	848	$	(91	)
Brown Brothers Harriman		(1,978	)		2,168		190
Citigroup		(166,785	)		168,932		2,147
Goldman Sachs		(374,465	)		375,245		780
HSBC		(73,461	)		73,421		(40	)
JPMorgan Chase Bank		(248,781	)		249,343		562
Standard New York		(67,945	)		67,666		(279	)
UBS		(1,044	)		1,066		22
						$	3,291

For the six months ended March 31, 2015, the total amount of all open forward foreign currency contracts, as presented in the table above, are representative of the volume of activity for this derivative type during the six months.

A list of the open OTC swap agreements held by the Fund at March 31, 2015, is as follows:

Interest Rate Swaps
Counterparty	Fund Pays	Fund Receives	Termination Date	Currency	Notional Amount (Thousands)		Net Unrealized Appreciation (Depreciation) ($ Thousands)
Goldman Sachs	3 Month ZAR - JIBAR	8.76%	01/16/29	ZAR		52,000	$	297
Goldman Sachs	4.53%	1 Day CLP - CLICP	03/11/25	CLP		791,933		110
Goldman Sachs	3 Month ILS - TELBOR	2.67%	03/02/25	ILS		10,153		14

46 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Interest Rate Swaps
Counterparty	Fund Pays	Fund Receives	Termination Date	Currency	Notional Amount (Thousands)		Net Unrealized Appreciation (Depreciation) ($ Thousands)
Goldman Sachs	3 Month ZAR - JIBAR	8.30%	01/16/2024	ZAR		23,000	$	88
Goldman Sachs	3 Month ZAR - JIBAR	8.19%	12/20/2023	ZAR		10,000		30
Goldman Sachs	1 Year BRL-CDI	10.89%	01/03/2023	BRL		5,012		(211	)
Goldman Sachs	1 Year BRL-CDI	12.73%	01/04/2021	BRL		10,608,431		(38	)
Goldman Sachs	0.59%	6 Month CZK - PRIBOR	03/13/2020	CZK		25,000		(12	)
Goldman Sachs	5.12%	28 Day MXN - TIIE	11/28/2019	MXN		12,000		3
Goldman Sachs	28 Day MXN - TIIE	6.82%	06/27/2019	MXN		218,869		70
Goldman Sachs	1 Year BRL-CDI	11.81%	01/02/2018	BRL		9,833		(109	)
Goldman Sachs	1 Year BRL-CDI	11.98%	01/02/2018	BRL		3,338		(33	)
Goldman Sachs	2.45%	6 Month HUF - BUBOR	07/11/2016	HUF		3,073,496		(85	)
Goldman Sachs	0.76%	3 Month ILS - TELBOR	05/22/2016	ILS		11,000		(39	)
Goldman Sachs	0.95%	3 Month ILS - TELBOR	04/02/2016	ILS		6,000		(27	)
Goldman Sachs	1.21%	3 Month ILS - TELBOR	02/14/2016	ILS		8,000		(22	)
Goldman Sachs	3.31%	6 Month PZL - WIBOR	02/03/2016	PLN		30,000		(121	)
Goldman Sachs	1.20%	3 Month ILS - TELBOR	01/16/2016	ILS		34,388		(95	)
Goldman Sachs	1 Year BRL-CDI	11.59%	01/04/2016	BRL		5,024		(23	)
Goldman Sachs	1 Year BRL-CDI	11.00%	01/04/2016	BRL		45,820		(252	)
Goldman Sachs	1 Year BRL-CDI	11.92%	01/04/2016	BRL		20,309		(70	)
JPMorgan Chase Bank	3 Month ILS -TELBOR	2.98%	02/26/2025	ILS		17,172		78
JPMorgan Chase Bank	4.29%	6 Month HUF - BUBOR	08/04/2024	HUF		800,000		(467	)
JPMorgan Chase Bank	5.33%	Colombia IBR	03/11/2020	COP		6,515,340		71
JPMorgan Chase Bank	0.54%	6 Month CZK - PRIBOR	02/16/2020	CZK		250,000		(145	)
JPMorgan Chase Bank	3 Month ILS - TELBOR	1.14%	03/24/2019	ILS		100,000		(6	)
JPMorgan Chase Bank	0.64%	3 Month ILS - TELBOR	07/31/2016	ILS		15,000		(42	)
							$	(1,036	)

Cross Currency Swaps
Counterparty	Fund Pays	Fund Receives	Termination Date	Currency	Notional Amount (Thousands)		Net Unrealized Depreciation ($ Thousands)
JPMorgan Chase Bank	3 Month USD - LIBOR	8.57%	10/28/2016	TRY		80,000	$	(26)

A list of the centrally cleared swap agreements held by the Fund at March 31, 2015, is as follows:

Interest Rate Swaps
Counterparty	Fund Pays	Fund Receives	Termination Date	Currency	Notional Amount (Thousands)		Net Unrealized Appreciation (Depreciation) ($Thousands)
Bank of America	2.34%	3 Month USD - LIBOR	02/06/2045	USD		1,930	$	16
Bank of America	2.14%	3 Month USD - LIBOR	01/12/2025	USD		3,534		(53	)
JPMorgan Chase Bank	2.08%	3 Month USD - LIBOR	01/13/2025	USD		4,680		(43	)
							$	(80	)

For the six months ended March 31, 2015, the total number of all open swap agreements, as presented in the table above, are representative of the volume of activity for this derivative type during the six months.

Percentages are based on a Net Assets of $1,382,989 ($ Thousands).

* Rate shown is the 7-day effective yield as of March 31, 2015.

† Investment in Affiliated Security.

(1) In U.S. dollars unless otherwise indicated.

(A) Security in default on interest payments.

(B) Variable Rate Security — The rate reported on the Schedule of Investments is the rate in effect as of March 31, 2015.

(C) Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” These securities have been determined to be liquid under guidelines established by the Board of Trustees.

(D) Step Bonds — The rate reflected on the Schedule of Investments is the effective yield on March 31, 2015. The coupon on a step bond changes on a specified date.

(E) Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase.

(F) This security or a partial position of this security is on loan at March 31, 2015. The total market value of securities on loan at March 31, 2015 was $10,878 ($ Thousands) (See Note 8).

(G) Real Estate Investment Trust.

(H) This security was purchased with cash collateral held from securities on loan (see Note 8). The total value of such securities as of March 31, 2015 was $11,263 ($ Thousands).

(I) Securities considered illiquid. The total market value of such securities as of March 31, 2015 was $5,577 ($ Thousands) and represented 0.4% of Net Assets.

(J) Securities fair valued using methods determined in good faith by the Valuation Committee of the Board of Trustees. The total market value of such securities as of March 31, 2015 was $5,577 ($ Thousands) and represented 0.4% of Net Assets.

AUD — Australian Dollar

BRL — Brazilian Real

BUBOR — Budapest Interbank Offered Rate

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 47

SCHEDULE OF INVESTMENTS (Unaudited)

Emerging Markets Debt Fund (Concluded)

March 31, 2015

CDI — Average One-Day Interbank Deposit Rate

CLN — Credit Linked Note

CLP — Chilean Peso

CNH — Chinese Yuen (Offshore)

CNY — Chinese Renminbi

COP — Colombian Peso

CZK — Czech Koruna

DEM — German Mark

DOP — Dominican Peso

EUR — Euro

GBP — British Pound Sterling

HUF — Hungarian Forint

IBR — Interbank Rate

IDR — Indonesia Rupiah

ILS — Israeli Shekel

INR — India Rupee

JIBAR — Johannesburg Interbank Agreed Rate

KES — Kenyan Shilling

KRW — Korean Won

LIBOR — London Interbank Offered Rate

L.P. — Limited Partnership

MTN — Medium Term Note

MXN — Mexican Peso

MYR — Malaysian Ringgit

NGN — Nigerian Naira

OTC — Over the Counter

PEI — Peruvian Inca

PHP — Philippine Peso

PIK — Payment-in-Kind

PLC — Public Limited Company

PLN — Polish Zlotty

PRIBOR — Praque Interbank Offered Rate

RON — Romanian Leu

RUB — Russian Ruble

Ser — Series

SGD — Singapore Dollar

SPC — Segregated Portfolio Company

TELBOR — Tel Aviv Interbank Offered Rate

THB — Thai Baht

TIIE — Equilibrium Interbank Offered Rate

TRY — Turkish Lira

TWD — Taiwan Dollar

USD — U.S. Dollar

WIBOR — Warsaw Interbank Offered Rate

ZAR — South African Rand

ZMW — Zambian Kwacha

The following is a list of the level of inputs used as of March 31, 2015, in valuing the Fund’s investments and other financial instruments carried at value ($ Thousands):

Investments in Securities	Level 1			Level 2			Level  3(1)		Total
Global Bonds	$	—		$	1,283,871		$	456	$	1,284,327
Loan Participations		—			—			5,120		5,120
Affiliated
Partnership		—			11,263			—		11,263
Time Deposits		—			61,833			—		61,833
Total Investments in Securities	$	—		$	1,356,967		$	5,576	$	1,362,543
Other Financial Instruments	Level 1			Level 2			Level 3		Total
Futures Contracts*
Unrealized Appreciation	$	44		$	—		$	—	$	44
Unrealized Depreciation		(1,069	)		—			—		(1,069	)
Forwards Contracts*
Unrealized Appreciation		—			13,793			—		13,793
Unrealized Depreciation		—			(10,502	)		—		(10,502	)
OTC Swaps
Interest Rate Swaps*
Unrealized Appreciation		—			761			—		761
Unrealized Depreciation		—			(1,797	)		—		(1,797	)
Cross Currency Swaps*
Unrealized Depreciation		—			(26	)		—		(26	)
Centrally Cleared Swaps
Interest Rate Swaps*
Unrealized Appreciation		—			16			—		16
Unrealized Depreciation		—			(96	)		—		(96	)
Total Other Financial Instruments	$	(1,025	)	$	2,149		$	—	$	1,124

⁽¹⁾  Of the $5,576 ($ Thousands) in Level 3 securities as of March 31, 2015, $5,576 ($ Thousands) or 100.0% are not valued via third party pricing vendors and broker quotes. If significant, the disclosure of the unobservable inputs and the interrelationships and sensitivity between these inputs are required for those Level 3 securities that are no valued by third party pricing vendors or broker quotes.

* Futures contracts, forwards contracts and swaps are valued at the unrealized appreciation (depreciation) on the instrument.

For the six months ended March 31, 2015, there were no transfers between Level 1 and Level 2 assets and liabilities.

For the six months ended March 31, 2015, there were no transfers between Level 2 and Level 3 assets and liabilities.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

48 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Statements of Assets and Liabilities ($ Thousands) (Unaudited)

March 31, 2015

	International Equity Fund			Emerging Markets Equity Fund			International Fixed Income Fund			Emerging Markets Debt Fund
ASSETS:
Investments, at value (Cost $2,561,646, $1,742,774, $563,567 and $1,470,374, respectively)(1)	$	2,748,638		$	1,689,381		$	525,858		$	1,351,280
Affiliated investments, at value (Cost $168,470, $68,014, $0 and $11,263, respectively)		168,470			68,014			—			11,263
Cash		6,172			—			242			6,887
Foreign currency, at value (Cost $0, $4,947, $0 and $0, respectively)		—			4,843			—			—
Cash pledged as collateral for futures contracts		—			—			855			1,639
Receivable for investment securities sold		12,521			5,120			8,790			9,002
Unrealized gain on forward foreign currency contracts		—			—			10,855			15,779
Receivable for fund shares sold		2,296			15,169			319			2,381
Dividends and interest receivable		7,855			2,302			4,198			27,011
Variation margin receivable		66			—			34			72
Foreign tax reclaim receivable		2,741			38			—			—
Unrealized gain on foreign spot currency contracts		—			—			57			2
Swap contracts, at value (Premiums paid $0, $0, $0 and $0, respectively)		—			—			—			761
Total Assets		2,948,759			1,784,867			551,208			1,426,077
LIABILITIES:
Payable for investment securities purchased		17,367			4,175			14,851			11,161
Payable upon return of securities loaned		87,518			50,950			—			11,263
Payable to custodian		—			17,524			—			—
Foreign currency payable, at value (Cost $3,487, $0, $346 and $3,181, respectively)		3,494			—			351			3,174
Unrealized loss on forward foreign currency contracts		—			—			683			12,489
Swap contracts, at value (Premiums received $0, $0, $0 and $0, respectively)		—			—			920			1,823
Payable for fund shares redeemed		3,460			8,056			1,348			1,290
Variation margin payable		924			—			136			178
Unrealized loss on foreign spot currency contracts		8			2			—			—
Investment advisory fees payable		1,218			1,359			116			696
Administration fees payable		1,084			644			203			522
Shareholder servicing fees payable		572			347			113			272
Trustees’ fees		1			—			—			—
Chief compliance officer fees payable		3			2			1			1
Administration servicing fees payable		4			—			—			—
Other accrued expenses		198			550			57			219
Accrued foreign capital gains tax on appreciated securities		5			659			—			—
Total Liabilities		115,856			84,268			18,779			43,088
Net Assets	$	2,832,903		$	1,700,599		$	532,429		$	1,382,989
NET ASSETS:
Paid in Capital (unlimited authorization — no par value)	$	3,444,849		$	1,821,137		$	533,572		$	1,540,775
Undistributed (distributions in excess of) net investment income		(983	)		(13,329	)		(23,083	)		1,698
Accumulated net realized gain (loss) on investments, futures contracts, foreign currency contracts and swap contracts		(797,895	)		(53,116	)		53,469			(45,846	)
Net unrealized appreciation (depreciation) on investments		186,992			(53,393	)		(37,709	)		(119,094	)
Net unrealized appreciation (depreciation) on futures contracts		279			—			(108	)		(1,025	)
Net unrealized deprecation on swap contracts		—			—			(2,442	)		(1,142	)
Net unrealized appreciation (depreciation) on forward foreign currency contracts, foreign currencies and translation of other assets and liabilities denominated in foreign currencies		(334	)		(41	)		8,730			7,623
Accumulated foreign capital gains tax on appreciated securities		(5	)		(659	)		—			—
Net Assets	$	2,832,903		$	1,700,599		$	532,429		$	1,382,989
Net Asset Value, Offering and Redemption Price Per Share — Class A ($2,682,097,772 ÷ 270,612,344 shares, $1,651,298,703 ÷ 164,552,240 shares, $532,429,002 ÷ 50,279,141 shares, $1,299,737,598 ÷ 135,908,689 shares, respectively.)		$9.91			$10.04			$10.59			$9.56
Net Asset Value, Offering and Redemption Price Per Share — Class I ($4,860,468 ÷ 490,309 shares)		$9.91			N/A			N/A			N/A
Net Asset Value, Offering and Redemption Price Per Share — Class Y ($145,944,294 ÷ 14,720,609 shares, $49,300,166 ÷ 4,907,524 shares, N/A, $83,251,363 ÷ 8,701,114 shares, respectively.)		$9.91			$10.05			N/A			$9.57

(1) Included in “Investments, at value” is the market value of securities on loan in the amounts of $81,582, $45,795, $0 and $10,878, ($ Thousands), respectively.

N/A — Not applicable. Share classes currently not offered.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 49

Statements of Operations ($ Thousands) (Unaudited)

For the six months ended March 31, 2015

	International Equity Fund			Emerging Markets Equity Fund			International Fixed Income Fund			Emerging Markets Debt Fund
Investment Income:
Dividends	$	22,669		$	10,800		$	—		$	—
Dividends from Affiliated Security(1)(2)		3			1			—			—
Interest		16			43			5,183			42,362
Security Lending Income — Net(1)		652			599			—			10
Less: Foreign Taxes Withheld		(2,094	)		(1,002	)		(16	)		(395	)
Total Investment Income		21,246			10,441			5,167			41,977
Expenses:
Investment Advisory Fees		6,740			8,466			789			5,747
Administration Fees		6,006			4,007			1,184			3,043
Shareholder Servicing Fees — Class A		3,246			2,198			659			1,643
Shareholder Servicing Fees — Class I		6			—			—			—
Admin Servicing Fees — Class I		6			—			—			—
Trustees’ Fees		18			12			3			9
Chief Compliance Officer Fees		7			5			1			3
Custodian/Wire Agent Fees		145			376			33			131
Printing Fees		109			74			22			54
Overdraft Fees		2			5			1			11
Professional Fees		81			91			16			45
Registration Fees		34			47			5			22
Other Expenses		42			30			64			52
Total Expenses		16,442			15,311			2,777			10,760
Less:
Waiver of Investment Advisory Fees		—			—			(89	)		(1,585	)
Fees Paid Indirectly		—			(7	)		—			—
Net Expenses		16,442			15,304			2,688			9,175
Net Investment Income (Loss)		4,804			(4,863	)		2,479			32,802
Net Realized and Unrealized Gain (Loss) on Investments, Futures Contracts, Swap Contracts and Foreign Currency Transactions:
Net Realized Gain (Loss) from:
Investments		1,997			(13,719	)		1,978			(9,952	)
Futures Contracts		(1,672	)		—			(132	)		20
Swap Contracts		—			—			(312	)		(270	)
Foreign Currency Transactions		(1,095	)		(816	)		52,267			(27,860	)
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		46,299			(81,830	)		(29,465	)		(65,791	)
Futures Contracts		1,504			—			(171	)		(790	)
Swap Contracts		—			—			(634	)		335
Foreign Capital Gains Tax on Appreciated Securities		—			1,364			—			—
Foreign Currency Transactions		(141	)		15			(5,147	)		5,308
Net Realized and Unrealized Gain (Loss) on Investments, Futures Contracts, Swap Contracts and Foreign Currency Transactions		46,892			(94,986	)		18,384			(99,000	)
Net Increase (Decrease) in Net Assets Resulting from Operations	$	51,696		$	(99,849	)	$	20,863		$	(66,198	)

(1) Income is from the investment of collateral in an affiliated security.

(2) See Note 4 in Notes to Financial Statements.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

50 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Statements of Changes in Net Assets ($ Thousands)

For the six months ended March 31, 2015 (Unaudited) and the year ended September 30, 2014

	International Equity Fund*						Emerging Markets Equity Fund*
	2015			2014			2015			2014
Operations:
Net Investment Income (Loss)	$	4,804		$	46,469		$	(4,863	)	$	10,252
Net Realized Gain (Loss) from Investments and Futures Contracts		325			187,799			(13,719	)		70,904
Net Realized Loss on Forward Foreign Currency Contracts and Foreign Currency Transactions		(1,095	)		(1,027	)		(816	)		(688	)
Net Change in Unrealized Appreciation (Depreciation) on Investments, Affiliated Investments and Futures Contracts		47,803			(152,633	)		(81,830	)		(35,842	)
Net Change in Unrealized Appreciation (Depreciation) on Foreign Capital Tax Gains on Appreciated Securities		—			(5	)		1,364			(1,875	)
Net Change in Unrealized Appreciation (Depreciation) on Forward Foreign Currency Contracts, Foreign Currencies, and Translation of Other Assets and Liabilities Denominated in Foreign Currencies		(141	)		(317	)		15			(72	)
Net Increase (Decrease) in Net Assets Resulting from Operations		51,696			80,286			(99,849	)		42,679
Dividends from:
Net Investment Income:
Class A		(52,424	)		(31,558	)		(18,640	)		(7,645	)
Class I		(86	)		(64	)		N/A			N/A
Total Dividends		(52,510	)		(31,622	)		(18,640	)		(7,645	)
Capital Share Transactions:
Class A:
Proceeds from Shares Issued		358,894			655,997			291,366			848,194
Reinvestment of Dividends & Distributions		48,485			28,743			17,391			7,072
Cost of Shares Redeemed		(398,780	)		(400,975	)		(497,109	)		(345,905	)
Increase (Decrease) in Net Assets Derived from Class A Transactions		8,599			283,765			(188,352	)		509,361
Class I:
Proceeds from Shares Issued		456			1,352			N/A			N/A
Reinvestment of Dividends & Distributions		53			45			N/A			N/A
Cost of Shares Redeemed		(967	)		(2,156	)		N/A			N/A
Decrease in Net Assets Derived from Class I Transactions		(458	)		(759	)		N/A			N/A
Class Y:
Proceeds from Shares Issued		146,146			—			50,319			—
Cost of Shares Redeemed		(8,394	)		—			(957	)		—
Increase in Net Assets Derived from Class Y Transactions		137,752			—			49,362			—
Increase (Decrease) in Net Assets Derived from Capital Share Transactions		145,893			283,006			(138,990	)		509,361
Net Increase (Decrease) in Net Assets		145,079			331,670			(257,479	)		544,395
Net Assets:
Beginning of Period		2,687,824			2,356,154			1,958,078			1,413,683
End of Period	$	2,832,903		$	2,687,824		$	1,700,599		$	1,958,078
Undistributed (Distributions in Excess of) Net Investment Income Included in Net Assets at End of Period	$	(983	)	$	46,723		$	(13,329	)	$	10,174
Share Transactions:
Class A:
Shares Issued		37,434			64,705			28,430			78,929
Reinvestment of Distributions		5,082			2,851			1,729			667
Shares Redeemed		(41,779	)		(39,602	)		(47,542	)		(31,919	)
Total Class A Transactions		737			27,954			(17,383	)		47,677
Class I:
Shares Issued		47			133			N/A			N/A
Reinvestment of Distributions		5			4			N/A			N/A
Shares Redeemed		(100	)		(212	)		N/A			N/A
Total Class I Transactions		(48	)		(75	)		N/A			N/A
Class Y:
Shares Issued		15,578			—			5,002			—
Shares Redeemed		(857	)		—			(94	)		—
Total Class Y Transactions		14,721			—			4,908			—
Net Increase (Decrease) in Shares Outstanding from Share Transactions		15,410			27,879			(12,475	)		47,677

* Class Y shares of the Fund commenced operations on December 31, 2014.

N/A — Not applicable. Share classes currently not offered.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 51

Statements of Changes in Net Assets ($ Thousands)(Concluded)

For the six months ended March 31, 2015 (Unaudited) and the year ended September 30, 2014

	International Fixed Income Fund						Emerging Markets Debt Fund*
	2015			2014			2015			2014
Operations:
Net Investment Income	$	2,479		$	6,478		$	32,802		$	59,833
Net Realized Gain (Loss) from Investments, Futures Contracts and Swap Contracts		1,534			9,260			(10,202	)		(3,051	)
Net Realized Gain (Loss) on Forward Foreign Currency Contracts and Foreign Currency Transactions		52,267			7,088			(27,860	)		(31,240	)
Net Change in Unrealized Depreciation on Investments, Futures Contracts and Swap Contracts		(30,270	)		(15,160	)		(66,246	)		(6,315	)
Net Change in Unrealized Appreciation (Depreciation) on Forward Foreign Currency Contracts, Foreign Currencies, and Translation of Other Assets and Liabilities Denominated in Foreign Currencies		(5,147	)		21,099			5,308			4,303
Net Increase (Decrease) in Net Assets Resulting from Operations		20,863			28,765			(66,198	)		23,530
Dividends and Distributions from:
Net Investment Income:
Class A		(38,714	)		(2,598	)		(19,475	)		(37,069	)
Net Realized Gains:
Class A		—			—			(1,398	)		(7,466	)
Total Dividends and Distributions		(38,714	)		(2,598	)		(20,873	)		(44,535	)
Capital Share Transactions:
Class A:
Proceeds from Shares Issued		68,491			132,549			253,179			460,776
Reinvestment of Dividends & Distributions		34,693			2,293			18,581			39,056
Cost of Shares Redeemed		(76,688	)		(110,607	)		(230,953	)		(315,392	)
Increase in Net Assets Derived from Class A Transactions		26,496			24,235			40,807			184,440
Class Y:
Proceeds from Shares Issued		N/A			N/A			84,798			—
Cost of Shares Redeemed		N/A			N/A			(1,276	)		—
Increase in Net Assets Derived from Class Y Transactions		N/A			N/A			83,522			—
Increase in Net Assets Derived from Capital Share Transactions		26,496			24,235			124,329			184,440
Net Increase in Net Assets		8,645			50,402			37,258			163,435
Net Assets:
Beginning of Period		523,784			473,382			1,345,731			1,182,296
End of Period	$	532,429		$	523,784		$	1,382,989		$	1,345,731
Undistributed (Distributions in Excess of) Net Investment Income Included in Net Assets at End of Period	$	(23,083	)	$	13,152		$	1,698		$	(11,629	)
Share Transactions:
Class A:
Shares Issued		6,387			12,407			25,908			44,744
Reinvestment of Distributions		3,346			220			1,871			3,784
Shares Redeemed		(7,138	)		(10,379	)		(23,752	)		(30,598	)
Total Class A Transactions		2,595			2,248			4,027			17,930
Class Y:
Shares Issued		N/A			N/A			8,834			—
Shares Redeemed		N/A			N/A			(133	)		—
Total Class Y Transactions		N/A			N/A			8,701			—
Net Increase in Shares Outstanding from Share Transactions		2,595			2,248			12,728			17,930

* Class Y shares of the Fund commenced operations on December 31, 2014.

N/A — Not applicable. Share classes currently not offered.

Amounts designated as “—” are either $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

52 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Financial Highlights

For the six months ended March 31, 2015 (Unaudited) and the years ended September 30,

For a Share Outstanding Throughout Each Period

	Net Asset Value, Beginning of Period		Net Investment Income (Loss)(1)			Net Realized and Unrealized Gains (Losses)  on Securities(1)			Total from Operations			Dividends from Net Investment Income			Distributions from Realized Capital Gains			Total Dividends and Distributions and Return of  Capital			Net Asset Value, End of Period		Total Return†			Net Assets End of Period (Thousands)		Ratio of Expenses to Average Net Assets*			Ratio of Expenses to Average Net  Assets (Excluding Fees Paid Indirectly)**			Ratio of Expenses to Average Net Assets (Excluding Waivers and Fees Paid Indirectly)**			Ratio of Net Investment Income to Average Net Assets			Portfolio Turnover Rate
International Equity Fund
Class A
2015@	$	9.94	$	0.02		$	0.14		$	0.16		$	(0.19	)	$	—		$	(0.19	)	$	9.91		1.72	%	$	2,682,098		1.24	%(2)		1.24	%(2)		1.24	%(2)		0.34	%		33	%
2014		9.71		0.18			0.18			0.36			(0.13	)		—			(0.13	)		9.94		3.66			2,682,482		1.24	(2)		1.24	(2)		1.24	(2)		1.78			60
2013		8.19		0.13			1.53			1.66			(0.14	)		—			(0.14	)		9.71		20.47			2,350,201		1.25	(2)		1.25	(2)		1.25	(2)		1.50			47
2012		7.29		0.14			0.92			1.06			(0.16	)		—			(0.16	)		8.19		14.76			1,842,851		1.26	(2)		1.26	(2)		1.26	(2)		1.75			56
2011		8.34		0.16			(1.08	)		(0.92	)		(0.13	)		—			(0.13	)		7.29		(11.34	)		1,566,893		1.27	(2)		1.27	(2)		1.27	(2)		1.88			98
2010		7.88		0.10			0.36			0.46			—			—			—			8.34		5.84			1,898,206		1.27	(2)		1.27	(2)		1.28	(10)		1.26			144
Class I
2015@	$	9.92	$	—		$	0.15		$	0.15		$	(0.16	)	$	—		$	(0.16	)	$	9.91		1.61	%	$	4,861		1.49	%(2)		1.49	%(2)		1.49	%(2)		0.05	%		33	%
2014		9.70		0.15			0.17			0.32			(0.10	)		—			(0.10	)		9.92		3.33			5,342		1.49	(2)		1.49	(2)		1.49	(2)		1.48			60
2013		8.18		0.11			1.52			1.63			(0.11	)		—			(0.11	)		9.70		20.19			5,953		1.50	(2)		1.50	(2)		1.50	(2)		1.21			47
2012		7.28		0.12			0.91			1.03			(0.13	)		—			(0.13	)		8.18		14.37			5,271		1.51	(2)		1.51	(2)		1.51	(2)		1.48			56
2011		8.32		0.13			(1.06	)		(0.93	)		(0.11	)		—			(0.11	)		7.28		(11.44	)		5,265		1.52	(2)		1.52	(2)		1.52	(2)		1.54			98
2010		7.89		0.08			0.35			0.43			—			—			—			8.32		5.45			8,455		1.52	(2)		1.52	(2)		1.53	(10)		1.00			144
Class Y
2015@(18)	$	9.39	$	0.03		$	0.49		$	0.52		$	—		$	—		$	—		$	9.91		5.54	%	$	145,944		0.99	%(14)		0.99	%(14)		0.99	%(14)		1.16	%		33	%
Emerging Markets Equity Fund
Class A
2015@	$	10.76	$	(0.03	)	$	(0.58	)	$	(0.61	)	$	(0.11	)	$	—		$	(0.11	)	$	10.04		(5.65	)%	$	1,651,299		1.72	%(3)		1.72	%(3)		1.72	%(11)		(0.55	)%		27	%
2014		10.53		0.06			0.22			0.28			(0.05	)		—			(0.05	)		10.76		2.68		$	1,958,078		1.96	(3)		1.96	(3)		2.02	(11)		0.58			59
2013		10.25		0.06			0.28			0.34			(0.06	)		—			(0.06	)		10.53		3.29			1,413,683		1.96	(3)		1.96	(3)		2.04	(11)		0.52			78
2012		9.00		0.05			1.23			1.28			(0.03	)		—			(0.03	)		10.25		14.21			899,730		1.97	(3)		1.97	(3)		2.07	(11)		0.49			93
2011		11.40		0.05			(2.35	)		(2.30	)		(0.10	)		—			(0.10	)		9.00		(20.38	)		695,498		1.96	(3)		1.96	(3)		2.09	(11)		0.44			98
2010		9.64		0.04			1.78			1.82			(0.06	)		—			(0.06	)		11.40		18.93			935,583		1.96	(3)		1.96	(3)		2.09	(11)		0.38			81
Class Y
2015@(18)	$	10.08	$	(0.01	)	$	(0.02	)	$	(0.03	)	$	—		$	—		$	—		$	10.05		(0.30	)%	$	49,300		1.47	%(15)		1.47	%(15)		1.47	%(15)		(0.57	)%		27	%
International Fixed Income Fund
Class A
2015@	$	10.98	$	0.05		$	0.38		$	0.43		$	(0.82	)	$	—		$	(0.82	)	$	10.59		4.09	%	$	532,429		1.02	%(4)		1.02	%(4)		1.05	%(12)		0.94	%		35	%
2014		10.42		0.14			0.48			0.62			(0.06	)		—			(0.06	)		10.98		5.96			523,784		1.02	(4)		1.02	(4)		1.20	(12)		1.32			104
2013		10.82		0.14			(0.06	)		0.08			(0.48	)(9)		—			(0.48	)		10.42		0.77			473,382		1.02	(4)		1.02	(4)		1.20	(12)		1.37			86
2012		10.44		0.17			0.48			0.65			(0.27	)		—			(0.27	)		10.82		6.34			491,793		1.02	(4)		1.02	(4)		1.21	(12)		1.60			103
2011		10.92		0.25			(0.22	)		0.03			(0.51	)(8)		—			(0.51	)		10.44		0.41			488,929		1.02	(4)		1.02	(4)		1.21	(12)		2.40			119
2010		10.21		0.24			0.57			0.81			(0.10	)(7)		—			(0.10	)		10.92		7.97			505,081		1.07	(6)		1.07	(6)		1.21	(12)		2.33			135
Emerging Markets Debt Fund
Class A
2015@	$	10.20	$	0.23		$	(0.71	)	$	(0.48	)	$	(0.15	)	$	(0.01	)	$	(0.16	)	$	9.56		(4.80	)%	$	1,299,738		1.36	%(5)		1.36	%(5)		1.60	%(13)		4.84	%		39	%
2014		10.38		0.49			(0.29	)		0.20			(0.31	)		(0.07	)		(0.38	)		10.20		1.90			1,345,731		1.36	(5)		1.36	(5)		1.80	(13)		4.73			92
2013		12.07		0.47			(1.02	)		(0.55	)		(0.68	)		(0.46	)		(1.14	)		10.38		(5.19	)		1,182,296		1.36	(5)		1.36	(5)		1.81	(13)		4.20			90
2012		10.81		0.55			1.36			1.91			(0.63	)		(0.02	)		(0.65	)		12.07		18.48			1,165,102		1.36	(5)		1.36	(5)		1.80	(13)		4.85			102
2011		11.19		0.63			(0.70	)		(0.07	)		(0.31	)		—			(0.31	)		10.81		(0.71	)		876,396		1.36	(5)		1.36	(5)		1.80	(13)		5.58			59
2010		10.24		0.67			1.14			1.81			(0.86	)		—			(0.86	)		11.19		18.78			931,865		1.36	(5)		1.36	(5)		1.79	(13)		6.41			70
Class Y
2015@(18)	$	9.63	$	0.13		$	(0.19	)	$	(0.06	)	$	—		$	—		$	—		$	9.57		(0.62	)%	$	83,251		1.11	%(16)		1.11	%(16)		1.35	%(17)		5.24	%		39	%

* Includes Fees Paid Indirectly, if applicable. See Note 4 in Notes to Financial Statements.

** See Note 4 in Notes to Financial Statements.

† Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

@ For the six month period ended March 31, 2015. All ratios have been annualized. Total Return and Portfolio Turnover Rate have not been annualized.

(1) Per share net investment income/(loss) and net realized and unrealized gains/(losses) calculated using average shares.

(2) The expense ratio includes overdraft fees. Had this expense been excluded, the ratios for Class A and I shares would have been 1.24% and 1.49%, respectively for 2014, 1.25% and 1.50%, respectively for 2013, 1.26% and 1.51%, respectively for 2012, 1.27% and 1.52%, respectively for 2011 and 2010.

(3) The expense ratio includes overdraft fees. Had this expense been excluded, the ratios would have been 1.96% for 2014, 2013, 2012, 2011 and 2010.

(4) The expense ratio includes overdraft fees. Had this expense been excluded, the ratios would have been 1.02%, 1.02%, 1.02%, 1.02% and 1.01% for 2014, 2013, 2012 and 2011 respectively.

(5) The expense ratio includes overdraft fees. Had this expense been excluded, the ratios would have been 1.36% for 2014, 2013, 2012, 2011 and 2010.

(6) The expense ratio includes proxy and overdraft fees. Had these expenses been excluded, the ratio would have been 1.01% for 2010.

(7) Includes a return of capital of less than $0.01.

(8) Includes a return of capital of $0.01 per share.

(9) Includes a return of capital of $0.09 per share.

(10) The expense ratio includes overdraft fees. Had this expense been excluded, the ratios for Class A and I shares would have been 1.28% and 1.53%, respectively for 2010.

(11) The expense ratio includes overdraft fees. Had this expense been excluded the ratios would have been 2.02%, 2.04%, 2.06%, 2.09% and 2.09% for 2014, 2013, 2012, 2011 and 2010.

(12) The expense ratio includes overdraft fees. Had this expense been excluded the ratios would have been 1.20%, 1.20%, 1.21%, 1.21% and 1.15% for 2014, 2013, 2012, 2011 and 2010.

(13) The expense ratio includes overdraft fees. Had this expense been excluded the ratios would have been 1.80%, 1.81%, 1.80%, 1.80% and 1.79% for 2014, 2013, 2012, 2011 and 2010.

(14) The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 0.99% for 2015.

(15) The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 1.47% for 2015.

(16) The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 1.11% for 2015.

(17) The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 1.36% for 2015.

(18) Commenced operations on December 31, 2014. All ratios for the period have been annualized.

Amounts designated as “—” are either $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 53

Notes to Financial Statements

March 31, 2015 (Unaudited)

1. ORGANIZATION

SEI Institutional International Trust (the “Trust”) was organized as a Massachusetts business trust under a Declaration of Trust dated June 30, 1988. The operations of the Trust commenced on December 20, 1989.

The Trust is registered under the Investment Company Act of 1940, as amended, as an open-end investment company with four funds: International Equity Fund, Emerging Markets Equity Fund, International Fixed Income Fund and Emerging Markets Debt Fund (together the “Funds”) each of which are diversified Funds with the exception of the International Fixed Income Fund and the Emerging Markets Debt Fund. The Trust’s prospectuses provide a description of each Fund’s investment goal, principal strategies and risks. The Trust is registered to offer Class A and Class Y shares of each of the Funds and Class I shares of the International Equity Fund. As of March 31, 2015, the Class Y shares had not yet commenced operations for the International Fixed Income Fund.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies consistently followed by the Funds.

Use of Estimates — The preparation of financial statements, in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

Security Valuation — Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded, or, if there is no such reported sale, at the most recent quoted bid price. Debt securities are priced based upon valuations provided by independent, third-party pricing agents, if available. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, or other methodologies designed to identify the market value for such securities. Debt obligations with remaining maturities of sixty days or less may be valued at their amortized cost, which approximates market value. The prices for foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates. Prices for most securities held in the Funds are provided daily by recognized independent pricing agents. SEI Investments Management Corporation (“SIMC”) or a sub-adviser, as applicable, reasonably believes that prices provided by independent pricing agents are reliable. However, there can be no assurance that such pricing service’s prices will be reliable. SIMC or a sub-adviser, as applicable, continuously

monitors the reliability of prices obtained from any pricing service and will notify the Funds’ administrator if it believes that a particular pricing service is no longer a reliable source of prices. The Funds’ administrator, in turn, will notify the Trust’s Fair Value Committee if it receives such notification from SIMC or a sub-adviser, as applicable, or if the Funds’ administrator reasonably believes that a particular pricing service is no longer a reliable source for prices. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from at least one independent broker.

Securities for which market prices are not “readily available” are determined to be unreliable or can not be valued using methodologies described above are valued in accordance with Fair Value Procedures established by the Trust’s Board of Trustees (the “Board”). The Trust’s Fair Value Procedures are implemented through a Fair Value Committee (the “Committee”) designated by the Board. The Committee is currently composed of two members of the Board of Trustees, as well as representatives from SIMC and its affiliates. The Committee provides regular reports to the Board concerning investments for which market prices are not readily available or may be unreliable. Some of the more common reasons that may necessitate that a security be valued using Fair Value Procedures include: the security’s trading has been halted or suspended; the security has been de-listed from a national exchange; the security’s primary trading market is temporarily closed at a time when, under normal conditions, it would be open; or the security’s primary pricing source is not able or willing to provide a price. When a security is valued in accordance with the Fair Value Procedures, the Committee will determine the value after taking into consideration relevant information reasonably available to the Committee. Examples of factors the Committee may consider are: (i) the facts giving rise to the need to fair value; (ii) the last trade price; (iii) the performance of the market or the issuer’s industry; (iv) the liquidity of the security; (v) the size of the holding in a Fund; or (vi) any other appropriate information. The determination of a security’s fair value price often involves the consideration of a number of subjective factors and is therefore subject to the unavoidable risk that the value assigned to a security may be higher or lower than the security’s value would be if a reliable market quotation for the security was readily available.

For securities that principally trade on a foreign market or exchange, a significant gap in time can exist between the time of a particular security’s last trade and the time at which a Fund calculates its net asset value. The closing prices of such securities may no longer reflect their market value at the time the Fund calculates net asset value if an event that could materially affect the value of those securities (a “Significant Event”) has occurred between the time of the security’s last close and the time that the Fund calculates net asset value. A Significant Event may relate to a single issuer or to an entire market sector. If the adviser or sub-adviser of a Fund becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the

54 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

security or securities principally trade, but before the time at which the Fund calculates net asset value, it may request that a Committee meeting be called. In addition, the Fund’s administrator monitors price movements among certain selected indices, securities and/or baskets of securities that may be an indicator that the closing prices received earlier from foreign exchanges or markets may not reflect market value at the time the Fund calculates net asset value. If price movements in a monitored index or security exceed levels established by the administrator, the administrator notifies the adviser or sub-adviser for any Fund holding the relevant securities that such limits have been exceeded. In such event, the adviser or sub-adviser makes the determination whether a Committee Meeting should be called based on the information provided.

The International Equity Fund and Emerging Markets Equity Fund also use a third-party fair valuation vendor. The vendor provides a fair value for foreign securities held by these Funds based on certain factors and methodologies (involving, generally, tracking valuation correlations between the U.S. market and each non-U.S. security). Values from the fair value vendor are applied in the event that there is a movement in the U.S. market that exceeds a specific threshold that has been established by the Committee. The Committee has also established a “confidence interval” which is used to determine the level of historical correlation between the value of a specific foreign security and movements in the U.S. market before a particular security will be fair valued when the threshold is exceeded. In the event that the threshold established by the Committee is exceeded on a specific day, the International Equity Fund and Emerging Markets Equity Fund will value the non-U.S. securities in their portfolios that exceed the applicable “confidence interval” based upon the adjusted prices provided by the fair valuation vendor.

In accordance with U.S. GAAP, fair value is defined as the price that the Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy has been established to maximize the use of the observable market data and minimize the use of unobservable inputs and to establish classification of the fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing an asset. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

The three-tier hierarchy of inputs is summarized in the three broad Levels listed below:

Level 1 — quoted prices in active markets for identical investments

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risks, etc.)

Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 whose fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

The valuation techniques used by the Funds to measure fair value during the six months ended March 31, 2015 maximized the use of observable inputs and minimized the use of unobservable inputs.

For the six months ended March 31, 2015, there have been no significant changes to the inputs or the Trust’s fair valuation methodologies.

Security Transactions and Investment Income — Security transactions are recorded on the trade date. Cost used in determining net realized capital gains and losses on the sale of securities is determined on the basis of specific identification. Dividend income and expense is recognized on the ex-dividend date, and interest income or expense is recognized using the accrual basis of accounting.

Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/ or as a realized gain. The Trust estimates the components of distributions received that may be considered nontaxable distributions or capital gain distributions.

Amortization and accretion is calculated using the scientific interest method, which approximates the effective interest method over the holding period of the security, which is not materially different from the effective interest method. Amortization of premiums and discounts is included in interest income.

Expenses — Expenses that are directly related to one of the Funds are charged directly to that Fund. Other operating expenses of the Trust are prorated to the Funds on the basis of relative daily net assets.

Classes — Class-specific expenses are borne by that class. Income, non-class specific expenses, and realized and unrealized gains/losses are allocated to the respective classes on the basis of relative daily net assets.

Foreign Currency Translation — The books and records of the Funds investing in international securities are maintained in U.S. dollars on the following basis:

(i) market value of investment securities, assets and liabilities at the current rate of exchange; and

(ii) purchases and sales of investment securities, income and expenses at the relevant rates of exchange prevailing on the respective dates of such transactions.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 55

Notes to Financial Statements (Continued)

March 31, 2015 (Unaudited)

The Funds do not isolate that portion of gains and losses on investments in equity securities that is due to changes in the foreign exchange rates from that which is due to changes in market prices of equity securities.

The Funds report certain foreign-currency-related transactions as components of realized gains for financial reporting purposes, whereas such components are treated as ordinary income for Federal income tax purposes.

Forward Foreign Currency Contracts — To the extent consistent with its investment objective and strategies, a Fund may enter into forward foreign currency contracts as hedges against either specific transactions, fund positions, speculative purposes or anticipated fund positions. All commitments are “marked-to-market” daily at the applicable foreign exchange rate, and any resulting unrealized gains or losses are recorded currently. The Fund realizes gains and losses at the time forward contracts are extinguished. Unrealized gains or losses on outstanding positions in forward foreign currency contracts held at the close of the year are recognized as ordinary income or loss for federal income tax purposes. The Fund could be exposed to risk if the counterparties to the contracts are unable to meet the terms of the contract and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar.

Finally, the risk exists that losses could exceed amounts disclosed on the Statement of Assets and Liabilities. Refer to each Fund’s Schedule of Investments for details regarding open forward foreign currency contracts as of March 31, 2015, if applicable.

Futures Contracts — To the extent consistent with its investment objective and strategies, the Funds may purchase futures contracts to gain exposure to market changes, which may be more efficient or cost effective than actually buying the securities. To the extent consistent with its investment objective and strategies, a Fund may utilize futures contracts for tactical hedging purposes as well as to enhance the Funds’ returns and may also utilize futures contracts to efficiently assist in managing the Funds’ duration and yield curve exposure. Upon entering into such a contract, a Fund is required to deposit and maintain as collateral such initial margin as required by the exchange on which the contract is held. The contracts are marked to market daily and the resulting changes in value are accounted for as unrealized gains and losses. Variation margin payments are paid or received, depending upon whether unrealized losses or gains are incurred. When the contract is closed, the Funds record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the amount invested in the contract.

Risks of entering into futures contracts include the possibility that there will be an imperfect price correlation between the futures and the underlying securities. Second, it is possible that a lack of liquidity for futures contracts could exist in the secondary market, resulting in an inability to close a position prior to its maturity date. Third, the

futures contract involves the risk that a Fund could lose more than the original margin deposit required to initiate a futures transaction.

Finally, the risk exists that losses could exceed amounts disclosed on the Statement of Assets and Liabilities. Refer to each Fund’s Schedule of Investments for details regarding open futures contracts as of March 31, 2015, if applicable.

Options/Swaptions Writing/Purchasing — To the extent consistent with its investment objective and strategies, a Fund may invest in financial options/swaptions contracts for the purpose of hedging its existing portfolio securities, or securities that a Fund intends to purchase, against fluctuations in fair market value caused by changes in prevailing market interest rates. A Fund may also invest in financial option/swaption contracts to enhance its returns. When the Fund writes or purchases an option/swaption, an amount equal to the premium received or paid by the Fund is recorded as a liability or an asset and is subsequently adjusted to the current market value of the option/swaption written or purchased. Premiums received or paid from writing or purchasing options/ swaptions which expire unexercised are treated by the Fund on the expiration date as realized gains or losses. The difference between the premium and the amount paid or received on effecting a closing purchase or sale transaction, including brokerage commissions, is also treated as a realized gain or loss. If an option/swaption is exercised, the premium paid or received is added to the cost of the purchase or proceeds from the sale in determining whether the Fund has realized a gain or a loss.

The risk in writing a call option/swaption is a Fund may give up the opportunity for profit if the market price of the security increases. The risk in writing a put option/swaption is a Fund may incur a loss if the market price of the security decreases and the option/swaption is exercised. The risk in purchasing an option/swaption is a Fund may pay a premium whether or not the option/swaption is exercised. The Funds also have the additional risk of being unable to enter into a closing transaction at an acceptable price if a liquid secondary market does not exist. Option/swaption contracts also involve the risk that they may not work as intended due to unanticipated developments in market conditions or other causes.

Finally, the risk exists that losses on written options could exceed amounts disclosed on the Statements of Assets and Liabilities. There were no open option/swaption contracts as of March 31, 2015.

Swap Agreements — To the extent consistent with its investment objective and strategies, a Fund may invest in swap contracts as an efficient means to take and manage risk in the portfolio, including interest rate risk, credit risk and overall yield sensitivity. A swap agreement is a two-party contract under which an agreement is made to exchange returns from predetermined investments or instruments, including a particular interest rate, foreign currency, or “basket” of

56 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

securities representing a particular index. Swap agreements are privately negotiated in the over-the-counter market (“OTC swaps”) or may be executed in a multilateral or other trade facility platform, such as a registered commodities exchange (“Centrally Cleared swaps”). Interest rate swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest (e.g., an exchange of floating rate payments for fixed rate payments) with respect to a notional amount of principal. Credit default swaps involve the periodic payment by a Fund or counterparty of interest based on a specified rate multiplied by a notional amount assigned to an underlying debt instrument or group of debt instruments in exchange for the assumption of credit risk on the same instruments. In the event of a credit event, usually in the form of a credit rating downgrade, the party receiving periodic payments (i.e. floating rate payer) must pay the other party (i.e. fixed rate payer) an amount equal to the outstanding principal of the downgraded debt instrument. Total return swaps allow an investor to benefit from the cash flow without ever actually owning the underlying security. The receiver must pay any decline in value to the payer at the end of the total return swap. However, the investor does not need to make a payment if there is no decline in price. Payments can be made on various indices, bonds (i.e. mortgage backed securities, bank debt and corporate), loans or commodities. The value of a total return swap is equal to the change in value of the underlying asset versus the accrued income payment based on LIBOR (London Interbank Offered Rate) or some other form of index on the notional amount. Interest rate swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest (e.g., an exchange of floating rate payments for fixed rate payments) with respect to a notional amount of principal to manage a Fund’s exposure to interest rates. Payments received or made are recorded as realized gains or losses. A Fund could be exposed to credit or market risk due to unfavorable changes in the fluctuation of interest rates or if the counterparty defaults on its obligation to perform. Risk of loss may exceed amounts recognized on the statement of assets and liabilities. In connection with swap agreements, securities/cash may be set aside as collateral by the Fund’s custodian. A Fund may enter into swap agreements in order to, among other things, change the maturity or duration of the investment portfolio; protect a Fund’s value from changes in interest rates; or expose a Fund to a different security or market.

Swaps are marked-to-market daily based upon quotations from market makers and the resulting changes in market values, if any, are recorded as unrealized gains or losses in the Statement of Operations. Net payments of interest are recorded as realized gains or losses. Daily changes in valuation of Centrally Cleared swaps, if any, are recorded as a receivable or payable for the change in value as appropriate (“variation margin”) on the Statements of Assets and Liabilities.

Entering into swap agreements involves, to varying degrees, elements of credit and market risk in excess of the amounts recognized on the Schedule of Investments or the Statement of Assets and Liabilities.

Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreement may default on its obligation to perform and that there may be unfavorable changes in the fluctuation of interest rates. Risks also arise from potential losses from adverse market movements.

Counterparty risk may be mitigated by having a master netting arrangement between a Fund and the counterparty and by having the counterparty post collateral to cover a Fund’s exposure to the counterparty. Refer to each Fund’s Schedule of Investments for details regarding open swap contracts as of March 31, 2015, if applicable.

Delayed Delivery Transactions — A Fund may purchase or sell securities on a when-issued or delayed delivery basis. These transactions involve a commitment by the Fund to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. When delayed delivery purchases are outstanding, the Fund will set aside liquid assets in an amount sufficient to meet the purchase price. When purchasing a security on a delayed delivery basis, the Fund assumes the rights and risks of ownership of the security, including the risk of price and yield fluctuations, and takes such fluctuations into account when determining its net asset value. The Fund may dispose of or renegotiate a delayed delivery transaction after it is entered into, and may sell when-issued securities before they are delivered, which may result in a capital gain or loss. When the Fund has sold a security on a delayed delivery basis, the Fund does not participate in future gains and losses with respect to the security.

Loan Participations and Brady Bonds — To the extent consistent with its investment objective and strategies, a Fund may invest in U.S. dollar-denominated fixed- and floating-rate loans (“Loans”) arranged through private negotiations between a foreign sovereign entity and one or more financial institutions (“Lenders”). The Fund invests in such Loans in the form of participations in Loans (“Participations”) or assignments of all or a portion of Loans from third parties. Participations typically result in a Fund having a contractual relationship only with the Lenders, not with the sovereign borrowers. This Fund has the right to receive payments of principal, interest and any fees to which it is entitled from the Lender selling the Participation and only upon receipt by the Lender of the payments from the borrower. In connection with purchasing Participations, the Fund generally has no right to enforce compliance by the borrower with the terms of the loan agreement relating to the Loan, nor any rights of set-off against the borrower, and the Fund will not benefit directly from any collateral supporting the Loan in which it has purchased the Participation. As a result, the Fund assumes the credit risk of both the borrower and the Lender that is selling the Participation.

Certain debt obligations, customarily referred to as “Brady Bonds,” are created through the exchange of existing commercial bank loans to foreign entities for new obligations in connection with debt

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 57

Notes to Financial Statements (Continued)

March 31, 2015 (Unaudited)

restructuring under a plan introduced by former U.S. Secretary of the Treasury Nicholas F. Brady. Brady Bonds have only been issued since 1989, and, accordingly, do not have a long payment history. They are issued by governments that may have previously defaulted on the loans being restructured by the Brady Bonds, so they are subject to the risk of default by the issuer. They may be fully or partially collateralized or uncollateralized and issued in various currencies.

Illiquid Securities — A security is considered illiquid if it cannot be sold or disposed of in the ordinary course of business within seven days or less for its approximate carrying value on the books of the Funds. Valuations of illiquid securities may differ significantly from the values that would have been used had an active market value for these securities existed.

Dividends and Distributions to Shareholders — The International Equity, Emerging Markets Equity and International Fixed Income Funds will distribute substantially all of their net investment income and all net realized capital gains, if any, at least annually. The Emerging Markets Debt Fund will distribute substantially all of its net investment income, if any, at least quarterly and all net realized gains, if any, at least annually. All dividends and distributions are recorded on ex-dividend date.

Investments in Real Estate Investment Trusts (“REITs”) — Dividend income is recorded based on the income included in distributions received from the REIT investments using published REIT reclassifications including management estimates when actual amounts are not available. Distributions received in excess of this estimated amount are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year-end, and may differ from the estimated amounts.

Redemption Fees — The Funds charge a redemption fee based on a redemption, or a series of redemptions from a single identifiable source that in the aggregate exceed a specific dollar threshold within any thirty day period, as presented below:

	Dollar Threshold ($ Thousands)		Redemption Fee
International Equity Fund	$	50,000		0.75	%
Emerging Markets Equity Fund		25,000		1.25
International Fixed Income Fund		25,000		1.00
Emerging Markets Debt Fund		25,000		1.00

For the six months ended March 31, 2015, the Funds did not charge any redemption fees. Such fees, if any, are retained by the Funds for the benefit of the remaining shareholders.

3. DERIVATIVE TRANSACTIONS

The following tables include only Funds that had exposure to more than one type of risk on derivatives held throughout the six month period. For Funds that held derivatives throughout the six months with only one type of risk exposure, additional information can be found on the Schedules of Investments and the Statements of Operations. The fair value of derivative instruments as of March 31, 2015 was as follows:

	Asset Derivatives				Liability Derivatives
	Six months ended March 31, 2015 ($ Thousands)				Six months ended March 31, 2015 ($ Thousands)
	Statement of Assets and Liabilities Location	Fair Value			Statement of Assets and Liabilities Location	Fair Value
International Fixed Income Fund
Interest rate contracts	Net Assets — Unrealized appreciation on futures contracts	$	263	*	Net Assets — Unrealized depreciation on futures contracts	$	371	*
	Net Assets — Unrealized appreciation on swap contracts		406	†	Net Assets — Unrealized depreciation on swap contracts		2,832	†
Credit contracts	Net Assets — Unrealized appreciation on swap contracts		—	†	Net Assets — Unrealized depreciation on swap contracts		16	†
Foreign exchange contracts	Unrealized gain on forward foreign currency contracts		10,577		Unrealized loss on forward foreign currency contracts		405
Total Derivatives not accounted for as hedging instruments		$	11,246			$	3,624
Emerging Markets Debt Fund
Interest rate contracts	Net Assets — Unrealized appreciation on futures contracts	$	44	*	Net Assets — Unrealized depreciation on futures contracts	$	1,069	*
	Net Assets — Unrealized appreciation on swap contracts		777	†	Net Assets — Unrealized depreciation on swap contracts		1,893	†
Foreign exchange contracts	Unrealized gain on forward foreign currency contracts		13,793		Unrealized loss on forward foreign currency contracts		10,502
	Net Assets – Unrealized appreciation on swap contracts		—	†	Net Assets – Unrealized depreciation on swap contracts		26	†
Total Derivatives not accounted for as hedging instruments		$	14,614			$	13,490

* Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments. Only current day’s variation margin is reported within the Statements of Assets & Liabilities.

† Includes cumulative appreciation/depreciation of swap contracts as reported in the Schedules of Investments. Market Value is reported within the Statements of Assets & Liabilities for OTC swap contracts that have paid premiums. For centrally cleared swap contracts current days variation margin is reported within the Statements of Assets & Liabilities.

58 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

The effect of derivative instruments on the Statements of Operations for the six months ended March 31, 2015.

Amount of realized gain or (loss) on derivatives recognized in income ($ Thousands):

Derivatives Not Accounted for as Hedging Instruments	Futures			Forward Currency Contracts		Swaps			Total
International Fixed Income Fund
Interest rate contracts	$	(132	)	$	—	$	(292	)	$	(424	)
Foreign exchange contracts		—			68,405		—			68,405
Credit contracts		—			—		(20	)		(20	)
Total	$	(132	)	$	68,405	$	(312	)		67,961
Emerging Markets Debt Fund
Interest rate contracts	$	20		$	—	$	(270	)	$	(250	)
Foreign exchange contracts		—			4,279		—			4,279
Total	$	20		$	4,279	$	(270	)	$	4,029

Change in unrealized appreciation or (depreciation) on derivatives recognized in income ($ Thousands):

Derivatives Not Accounted for as Hedging Instruments	Futures			Forward Currency Contracts			Swaps			Total
International Fixed Income Fund
Interest rate contracts	$	(171	)	$	—		$	(344	)	$	(515	)
Credit contracts		—			—			(2	)		(2	)
Foreign exchange contracts		—			(4,835	)		(288	)		(5,123	)
Total	$	(171	)	$	(4,835	)	$	(634	)	$	(5,640	)
Emerging Markets Debt Fund
Interest rate contracts	$	(790	)	$	—		$	441		$	(349	)
Foreign exchange contracts		—			464			(80	)		384
Equity contracts		—			—			(26	)		(26	)
Total	$	(790	)	$	464		$	335		$	9

A Fund is subject to various netting arrangements with select counterparties (“Master Agreements”). Master Agreements govern the terms of certain transactions, and reduce the counterparty risk associated with relevant transactions by specifying credit protection mechanisms and providing standardization that improves legal certainty. Since different types of transactions have different mechanics and are sometimes traded out of different legal entities of a particular counterparty organization, each type of transaction may be covered by a different Master Agreement, resulting in the need for multiple agreements with a single counterparty. As the Master Agreements are specific to unique operations of different asset types, they allow a Fund to close out and net its total exposure to a specific counterparty entity in the event of a default with respect to all the transactions governed under a single agreement with a specific counterparty entity.

Master Agreements can also help limit counterparty risk by specifying collateral posting arrangements at pre-arranged exposure levels. Under the Master Agreements, collateral is routinely transferred if the total net exposure to certain transactions (net of existing collateral already in place) governed under the relevant Master Agreement with a counterparty in a given account exceeds a specified threshold, which typically ranges from zero to $250,000 depending on the counterparty and the type of Master Agreement. United States Treasury Securities and U.S. dollar cash are generally the preferred forms of

collateral. Securities and cash pledged as collateral are reflected as assets in the Statements of Assets and Liabilities as either a component of investments at value (securities) or deposits due from counterparties (cash). Cash collateral received is not typically held in a segregated account and as such is reflected as a liability in the Statement of Assets and Liabilities as deposits due to counterparties. The market value of any securities received as collateral is not reflected as a component of net asset value. A Fund’s overall exposure to counterparty risk can change substantially within a short period, as it is affected by each transaction subject to the relevant Master Agreement.

Customer Account Agreements and related addendums govern exchange traded derivatives transactions such as futures, options on futures, and centrally cleared swaps. Exchange traded derivative transactions require posting of initial margin as determined by each relevant clearing agency which is segregated at a broker account registered with the Commodities Futures Trading Commission (CFTC), or the applicable regulator. In the US, counterparty risk is significantly reduced as creditors of the futures broker do not have claim to Fund assets in the segregated account. Additionally, portability of exposure in the event of default further reduces risk to the Funds. Variation margin, or changes in market value, are exchanged daily, but may not be netted between futures and cleared OTC derivatives.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 59

Notes to Financial Statements (Continued)

March 31, 2015 (Unaudited)

The following is a summary of the market value and variation margin of exchange-traded or centrally cleared financial derivative instruments of the Funds as of March 31, 2015 ($ Thousands):

	Financial Derivative Assets						Financial Derivative Liabilities
	Variation Margin Asset						Variation Margin Liability
Fund	Futures		Swap Agreements		Total		Futures		Swap Agreements		Total
International Equity Fund	$	66	$	—	$	66	$	924	$	—	$	924
International Fixed Income Fund		28		6		34		84		52		136
Emerging Markets Debt Fund		72		—		72		160		18		178
Total Exchange-Traded or Centrally Cleared	$	166	$	6	$	172	$	1,168	$	70	$	1,238

Securities with an aggregate market value of $16,500,772 have been pledged as collateral for exchange-traded and centrally cleared derivative instruments as of March 31, 2015.

International Swaps and Derivatives Association, Inc. Master Agreements and Credit Support Annexes (“ISDA Master Agreements”) govern OTC financial derivative transactions entered into by a Fund and select counterparties. ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral and events

of default or termination. Events of termination include conditions that may entitle counterparties to elect to terminate early and cause settlement of all outstanding transactions under the applicable ISDA Master Agreement. Any election to terminate early could be material to the financial statements. In limited circumstances, the ISDA Master Agreement may contain additional provisions that add additional counterparty protection beyond coverage of existing daily exposure if the counterparty has a decline in credit quality below a predefined level. These amounts, if any, may be segregated with a third party custodian.

The following is a summary by derivative type of the market value of OTC financial derivative instruments and collateral (received)/pledged as of March 31, 2015 ($ Thousands):

	Financial Derivative Assets						Financial Derivative Liabilities
Fund	Forward Foreign Currency Contracts		Swap Agreements		Total Over the Counter		Forward Foreign Currency Contracts		Swap Agreements		Total Over the Counter		Net Market Value of OTC Derivatives		Collateral (Received)/ Pledged		Net Exposures(1)
International Fixed Income Fund	$	10,855	$	—	$	10,855	$	683	$	920	$	1,603	$	9,252	$	—	$	9,252
Emerging Markets Debt Fund		15,779		761		16,540		12,489		1,823		14,312		2,228		—		2,228
Total Over the Counter	$	26,634	$	761	$	27,395	$	13,172	$	2,743	$	15,915

(1) Excess collateral is not shown for financial reporting purposes.

(2) Net Exposures represents the net receivable/(payable) that would be due from /to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity.

Securities with an aggregate market value of $0 have been pledged and $0 have been received as collateral for financial derivative instruments as governed by ISDA Master Agreements as of March 31, 2015.

4. INVESTMENT ADVISORY, ADMINISTRATION AND DISTRIBUTION AGREEMENTS, INVESTMENT SUB-ADVISORY AGREEMENTS AND OTHER TRANSACTIONS WITH AFFILIATES

Investment Advisory, Administration and Distribution Agreements — SIMC serves as investment adviser (the “Adviser”) to each Fund. In connection with serving as Adviser, SIMC is entitled to a fee, which is calculated daily and paid monthly, based on the average daily net assets of each fund.

SEI Investments Global Funds Services (the “Administrator”) provides administrative and transfer agency services to the Funds for annual fees, based on the average daily net assets of each fund.

SEI Investments Distribution Co. (the “Distributor”), a wholly owned subsidiary of SEI Investments Company (“SEI”), serves as each Fund’s Distributor. The Trust has adopted plans under which firms,

including the Distributor, that provide shareholder and administrative services may receive compensation therefrom.

Such plans provide fees payable to the Distributor, calculated as a percentage of the average daily net assets attributable to each particular class of each respective fund. Under both the Shareholder Servicing Plan and Administrative Service Plan, the Distributor may retain as profit any difference between the fee it receives and the amount it pays to third parties.

The Adviser, Administrator and/or Distributor have voluntarily agreed to waive a portion of their fees in order to keep total direct operating expenses (exclusive of interest from borrowings, brokerage commissions, taxes, Trustees fees and extraordinary expenses not incurred in the ordinary course of the Funds’ business) at a specified level. The voluntary waivers by the Funds’ Adviser, Administrator and/or Distributor are limited to the Funds’ direct operating expenses and, therefore, do not apply to indirect expenses incurred by the Funds, such as acquired fund fees and expenses (AFFE). The waivers are voluntary and the Funds’ Adviser, Administrator and/or Distributor may discontinue all or part of any of these waivers at any time.

60 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

The following is a summary of annual fees payable to the Adviser, Administrator and Distributor and the contractual and voluntary expense limitation for each Fund will be as follows:

	Advisory Fee			Administration Fee			Shareholder Servicing Fee			Administrative Servicing Fee			Voluntary Expense Limitations
International Equity Fund
Class A		0.505	%		0.45	%		0.25	%		—			1.25	%
Class I		0.505	%		0.45	%		0.25	%		0.25	%		1.50	%
Class Y		0.505	%		0.45	%		—			—			1.00	%
Emerging Markets Equity Fund
Class A		1.05	%(1)		0.45	%		0.25	%		—			N/A
Class Y		1.05	%(1)		0.45	%		—			—			N/A
International Fixed Income Fund
Class A		0.30	%		0.45	%		0.25	%		—			1.02	%
Emerging Markets Debt Fund
Class A		0.85	%		0.45	%		0.25	%		—			1.36	%
Class Y		0.85	%		0.45	%		—			—			1.11	%

(1) Effective October 1, 2014, SIMC has contractually agreed to waive its management fee as necessary to keep the management fee paid by the Fund during its fiscal year from exceeding 0.95%. This fee waiver agreement shall remain in effect until January 31, 2016 and, unless earlier terminated, shall be automatically renewed for successive one-year periods thereafter. The agreement may be amended or terminated only with the consent of the Board of Trustees.

N/A — Not applicable

Investment Sub-Advisory Agreements — As of March 31, 2015, SIMC has entered into Investment Sub-Advisory Agreements with the following parties:

Investment Sub-Adviser

International Equity Fund

Acadian Asset Management LLC

Blackcrane Capital, LLC

Causeway Capital Management LLC

Henderson Global Investors (North America) Inc.

INTECH Investment Management LLC

Neuberger Berman Management LLC

Tradewinds Global Investors LLC

Emerging Markets Equity Fund

Delaware Investment Fund Advisers, a series of Delaware
    Management Business Trust

Everest Capital LLC

JO Hambro Capital Management Limited

Kleinwort Benson Investors International Ltd.

Lazard Asset Management LLC

Neuberger Berman Management LLC

PanAgora Asset Management, Inc.

International Fixed Income Fund

AllianceBernstein L.P.

FIL Investment Advisors

Wellington Management Company, LLP

Emerging Markets Debt Fund

Investec Asset Management Ltd.

Neuberger Berman Fixed Income LLC

Stone Harbor Investment Partners LP

Under the investment sub-advisory agreements, each sub-adviser receives an annual fee, paid by SIMC.

Brokerage Commissions Paid to Affiliates — The Distribution Agreement between the Distributor and the Trust provides that the Distributor may receive compensation on fund transactions effected for the Trust in accordance with the rules of the Securities and Exchange Commission (“SEC”). Accordingly, it is expected that fund transactions may result in brokerage commissions being paid to the Distributor. The SEC rules require that such commissions not exceed usual and customary commissions. There were no such commissions for the six months ended March 31, 2015.

Fees Paid Indirectly — The Funds may direct certain fund trades to the Distributor who pays a portion of the Fund’s expenses. Accordingly, the expenses reduced, which were used to pay third party expenses, and the effect on the Fund’s expense ratio, as a percentage of the Fund’s average daily net assets for the six months ended March 31, 2015, can be found on the Statement of Operations and Financial Highlights, if applicable.

Investment in Affiliated Securities — The Funds may invest in the SEI Daily Income Trust Prime Obligation Fund, an affiliated money market fund to manage excess cash or to serve as margin or collateral for derivative positions. Additionally, the Funds may invest cash collateral from the securities lending program in the SEI Liquidity Fund L.P., also an affiliated fund.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 61

Notes to Financial Statements (Continued)

March 31, 2015 (Unaudited)

The following is summary of the transactions with affiliates for the six months ended March 31, 2015 ($ Thousands):

SEI Liquidity Fund L.P.	Purchases at Cost		Proceeds from Sales			Value 3/31/2015		Dividend Income
International Equity Fund	$	436,999	$	(401,279	)	$	87,518	$	652
Emerging Markets Equity Fund		245,925		(368,946	)		50,950		599
Emerging Markets Debt Fund		74,589		(63,326	)		11,263		10
SEI Daily Income Trust, Prime Obligation
International Equity Fund	$	198,937	$	(219,492	)	$	80,952	$	3
Emerging Markets Equity Fund		183,579		(184,726	)		17,064		1

Payment to Affiliates — Certain Officers and Trustees of the Trust are also Officers and/or Directors of the Administrator, Adviser and/or the Distributor.

The Trust pays each unaffiliated Trustee an annual fee for attendance at quarterly, interim, and committee meetings. The Administrator or the Distributor pays compensation of Officers and affiliated Trustees.

A portion of the services provided by the Chief Compliance Officer (“CCO”) and his staff, whom are employees of the Administrator, are paid for by the Trust as incurred. The services include regulatory oversight of the Trust’s Adviser, sub-advisers and service providers as required by SEC regulations.

Interfund Lending — The SEC has granted an exemption that permits the Trust to participate in an interfund lending program (“the Program”) with existing or future investment companies registered under the 1940 Act that are advised by SIMC (the “SEI Funds”). The Program allows the SEI Funds to lend money to and borrow money from each other for temporary or emergency purposes. Participation in the Program is voluntary for both borrowing and lending funds. Interfund loans may be made only when the rate of interest to be charged is more favorable to the lending fund than an investment in overnight repurchase agreements (“Repo Rate”), and more favorable to the borrowing fund than the rate of interest that would be charged by a bank for short-term borrowings (“Bank Loan Rate”). The Bank Loan Rate will be determined using a formula reviewed annually by the SEI Funds’ Board of Trustees. The interest rate imposed on interfund loans is the average of the Repo Rate and the Bank Loan Rate. For the six months ended March 31, 2015, the Trust had not participated in the Program.

5. INVESTMENT TRANSACTIONS

The cost of security purchases and the proceeds from the sale of securities, other than temporary cash investments and futures, during the six months ended March 31, 2015, were as follows:

	Purchases ($ Thousands)		Sales and Maturities ($ Thousands)
International Equity Fund
US Government	$	—	$	—
Other		926,548		835,393
Emerging Markets Equity Fund
US Government		—		—
Other		473,116		627,933

	Purchases ($ Thousands)		Sales and Maturities ($ Thousands)
International Fixed Income Fund
US Government	$	5,057	$	909
Other		193,815		161,923
Emerging Markets Debt Fund
US Government		—		—
Other		610,409		486,038

6. FEDERAL TAX INFORMATION:

It is each Fund’s intention to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code and distribute all of its taxable income (including net capital gains). Accordingly, no provision for Federal income taxes is required.

The Funds may be subject to taxes imposed by countries in which they invest with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned. The Funds accrue such taxes when the related income is earned.

Dividends from net investment income and distributions from net realized capital gains are determined in accordance with U.S. Federal income tax regulations, which may differ from those amounts determined under U.S. GAAP. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gain, as appropriate, in the period that the differences arise.

The tax character of dividends and distributions declared during the last two years were as follows:

		Ordinary Income ($ Thousands)		Long-Term Capital Gain ($ Thousands)		Return of Capital ($ Thousands)		Totals ($ Thousands)
International Equity Fund	2014	$	31,622	$	—	$	—	$	31,622
	2013		29,962		—		—		29,962
Emerging Markets Equity Fund	2014		7,645		—		—		7,645
	2013		4,998		—		—		4,998
International Fixed Income Fund	2014		2,598		—		—		2,598
	2013		17,902		—		4,024		21,926
Emerging Markets Debt Fund	2014		33,867		10,668		—		44,535
	2013		79,157		37,242		—		116,399

62 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

As of September 30, 2014, the components of Distributable Earnings/(Accumulated Losses) were as follows:

	Undistributed Ordinary Income ($ Thousands)		Undistributed Long Term Capital Gain ($ Thousands)		Capital Loss Carryforwards ($ Thousands)
International Equity Fund	$	52,572	$	—	$	(785,728	)
Emerging Markets Equity Fund		18,637		—		(17,532	)
International Fixed Income Fund		31,012		—		(280	)
Emerging Markets Debt Fund		—		32		—

	Unrealized Appreciation ($ Thousands)			Other Temporary Differences ($ Thousands)			Total Accumulated Gains (Losses) ($ Thousands)
International Equity Fund	$	120,900		$	1,124		$	(611,132	)
Emerging Markets Equity Fund		(3,152	)		(2	)		(2,049	)
International Fixed Income Fund		3,970			(17,994	)		16,708
Emerging Markets Debt Fund		(58,918	)		(11,829	)		(70,715	)

For Federal income tax purposes, capital carryforwards may be carried forward and applied against future capital gains as follows:

	Expires 2017 ($ Thousands)		Expires 2018 ($ Thousands)		Total Capital Loss Carryforward 09/30/14 ($  Thousands)
International Equity Fund	$	95,371	$	690,357	$	785,728
Emerging Markets Equity Fund		—		17,532		17,532
International Fixed Income Fund		—		280		280

Under the Regulated Investment Company Modernization Act of 2010, Funds will be permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period. However, any losses incurred during those future taxable years will be required to be utilized prior to the losses incurred in pre-enactment taxable years. As a result of this ordering rule, pre-enactment capital loss carryforwards may be more likely to expire unused. Additionally, post-enactment capital losses that are carried forward will retain their character as either short-term or long-term capital losses rather than being considered all short-term as under previous law.

During the year ended September 30, 2014, the following Funds utilized capital loss carryforwards to offset capital gains:

	Amount utilized ($ Thousands)
International Equity Fund	$	181,227
Emerging Markets Equity Fund		65,351
International Fixed Income Fund		10,258

For Federal income tax purposes, the cost of securities owned at September 30, 2014, and the net realized gains or losses on securities sold for the period were not materially different from amounts reported for financial reporting purposes. These differences are primarily due to investments in partnerships, passive foreign investment companies and wash sales which cannot be used for Federal income tax purposes in the current year and have been deferred for use in future years. The aggregate gross unrealized

appreciation and depreciation on total investments held by the Funds at March 31, 2015, was as follows:

	Federal Tax Cost ($ Thousands)		Aggregate Gross Unrealized Appreciation ($ Thousands)		Aggregate Gross Unrealized Depreciation ($ Thousands)			Net Unrealized Appreciation (Depreciation) ($ Thousands)
International Equity Fund	$	2,730,116	$	321,924	$	(134,932	)	$	186,992
Emerging Markets Equity Fund		1,810,788		183,936		(237,329	)		(53,393	)
International Fixed Income Fund		563,567		6,963		(44,672	)		(37,709	)
Emerging Markets Debt Fund		1,481,637		30,921		(150,015	)		(119,094	)

Management has analyzed the Funds’ tax positions taken on federal income tax returns for all open tax years and has concluded that as of September 30, 2014, no provision for income tax would be required in the Funds’ financial statements. The Funds’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

7. CONCENTRATION/RISKS

In the normal course of business, the Trust enters into contracts that provide general indemnifications by the Trust to the counterparty to the contract. The Trust’s maximum exposure under these arrangements is dependent on future claims that may be made against the Trust and, therefore, cannot be estimated; however, management believes that, based on experience, the risk of loss from such claims is considered remote.

The following descriptions provide additional information about some of the risks of investing in the Funds:

Asset-Backed Securities Risk — Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities, and asset-backed securities may not have the benefit of any security interest in the related assets.

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 — To the extent a Fund takes 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.

Fixed Income Market Risk — The prices of a 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. Generally, the Fund’s fixed income securities will decrease in value if interest rates rise and vice versa. In the case of foreign securities, price

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 63

Notes to Financial Statements (Concluded)

March 31, 2015 (Unaudited)

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.

Interest Rate Risk — The risk that a rise in interest rates will cause a fall in the value of fixed income securities, including U.S. Government Securities, in which the Fund invests. Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. A low interest rate environment may present greater interest rate risk, because there may be a greater likelihood of rates increasing and rates may increase more rapidly.

Mortgage-Backed Securities Risk — Mortgage-backed securities are affected by, among other things, interest rate changes and the possibility of prepayment of the underlying mortgage loans. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations.

Please refer to each Fund’s current prospectus for additional disclosure regarding the risks associated with investing in the Funds. The foregoing is not intended to be a complete discussion of the risks associated with the investment strategies of the Funds.

8. SECURITIES LENDING

A Fund may lend portfolio securities to brokers, dealers and other financial organizations that meet capital and other credit requirements or other criteria established by the Trust’s Board of Trustees. These loans may not exceed 33 1/3% of the total asset value of a Fund (including the loan collateral). No Fund will lend portfolio securities to its Adviser, sub-adviser or their affiliates unless it has applied for and received specific authority to do so from the SEC. Loans of portfolio securities will be fully collateralized by cash. Collateral will be maintained in an amount equal to at least 100% of the current market value of the loaned securities by marking to market daily, although the borrower will be required to deliver collateral between 102% and 105% of the market value of borrowed securities for domestic and foreign securities, respectively. However, due to market fluctuations during the day, the value of securities loaned on a particular day may, during the course of the day, exceed the value of collateral. On each

business day, the amount of collateral is adjusted based on the prior day’s market fluctuations and the current day’s lending activity. Income from lending activity is determined by the amount of interest earned on collateral, less any amounts payable to the borrowers of the securities and the lending agent. Lending securities involves certain risks, including the risk that a Fund may be delayed or prevented from recovering the collateral if the borrower fails to return the securities.

Cash collateral received in connection with securities lending is invested in short-term investments by the lending agent. These investments may include the SEI Liquidity Fund L.P., and the Fund bears all of the gains and losses on such investment. There is no guarantee that these investments will not lose value.

The following is a summary of securities lending agreements held by certain Funds which would be subject to offset as of March 31, 2015 ($ Thousands):

Fund	Securities Loaned at Value		Cash Collateral Received(1)		Net Amount
International Equity Fund	$	81,582	$	81,582	$	—
Emerging Markets Equity Fund		45,795		45,795		—
Emerging Markets Debt		10,878		10,878		—

(1) Excess collateral received in connection with the above securities lending transactions is not shown for financial reporting purposes. See each Fund’s Schedule of Investments for the total collateral received.

9. NEW ACCOUNTING PRONOUNCEMENT

In May 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-07 regarding “Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share”. The amendments in this update are effective for the Fund for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. ASU No. 2015-07 will eliminate the requirement to categorize investments in the fair value hierarchy if their fair value is measured at net asset value (NAV) per share (or its equivalent) using the practical expedient in the FASB’s fair value measurement guidance. At this time, management is evaluating the implications of ASU No. 2015-07 and its impact on the financial statement disclosures has not yet been determined.

10. SUBSEQUENT EVENTS

Management has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the financial statements were issued. Based on this evaluation, no disclosure and/or adjustments were required to the financial statements as of March 31, 2015.

64 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

Disclosure of Fund Expenses (Unaudited)

All mutual funds have operating expenses. As a shareholder of a fund, your investment is affected by these ongoing costs, which include (among others) costs for portfolio management, administrative services, and shareholder reports like this one. It is important for you to understand the impact of these costs on your investment returns.

Operating expenses such as these are deducted from the fund’s gross income and directly reduce your final investment return. These expenses are expressed as a percentage of the fund’s average net assets; this percentage is known as the fund’s expense ratio.

The following examples use the expense ratio and are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The table on this page illustrates your fund’s costs in two ways:

Actual Fund return. This section helps you to estimate the actual expenses after fee waivers that your Fund incurred over the period. The “Expenses Paid During Period” column shows the actual dollar expense cost incurred by a $1,000 investment in the Fund, and the “Ending Account Value” number is derived from deducting that expense cost from the Fund’s gross investment return.

You can use this information, together with the actual amount you invested in the Fund, to estimate the expenses you paid over that period. Simply divide your actual account value by $1,000 to arrive at a ratio (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply that ratio by the number shown for your Fund under “Expenses Paid During Period.”

Hypothetical 5% return. This section helps you compare your Fund’s costs with those of other mutual funds. It assumes that the fund had an annual 5% return before expenses during the year, but that the expense ratio (Column 3) for the period is unchanged. This example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to make this 5% calculation. You can assess your Fund’s comparative cost by comparing the hypothetical result for your Fund in the “Expense Paid During Period” column with those that appear in the same charts in the shareholder reports for other funds.

NOTE: Because the return is set at 5% for comparison purposes — NOT your Fund’s actual return — the account values shown may not apply to your specific investment.

	Beginning Account Value 10/1/2014		Ending Account Value 3/31/2015		Annualized Expense Ratios			Expenses Paid During Period*
International Equity Fund
Actual Fund Return
Class A	$	1,000.00	$	1,017.20		1.24	%	$	6.22
Class I		1,000.00		1,016.10		1.49			7.47
Class Y		1,000.00		1,055.40		0.99			2.56	**
Hypothetical 5% Return
Class A	$	1,000.00	$	1,018.76		1.24	%	$	6.23
Class I		1,000.00		1,017.52		1.49			7.48
Class Y		1,000.00		1,019.96		0.99			4.97	**
Emerging Markets Equity Fund
Actual Fund Return
Class A	$	1,000.00	$	943.50		1.72	%	$	8.34
Class Y		1,000.00		997.00		1.47			3.70	**
Hypothetical 5% Return
Class A	$	1,000.00	$	1,016.35		1.72	%	$	8.65
Class Y		1,000.00		1,017.60		1.47			7.39	**

	Beginning Account Value 10/1/2014		Ending Account Value 3/31/2015		Annualized Expense Ratios			Expenses Paid During Period*
International Fixed Income Fund
Actual Fund Return
Class A	$	1,000.00	$	1,040.90		1.02	%	$	5.20
Hypothetical 5% Return
Class A	$	1,000.00	$	1,019.84		1.02	%	$	5.15
Emerging Markets Debt Fund
Actual Fund Return
Class A	$	1,000.00	$	952.00		1.36	%	$	6.64
Class Y		1,000.00		993.80		1.11			2.80	**
Hypothetical 5% Return
Class A	$	1,000.00	$	1,018.13		1.36	%	$	6.86
Class Y		1,000.00		1,019.38		1.11			5.60	**

* Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period shown).

** Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 92/365 (to reflect the period since inception to period end).

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 65

Board of Trustees Considerations in Approving the Funds’ Investment Advisory and Sub-Advisory Agreements (Unaudited)

SEI Institutional International Trust (the “Trust”) and SEI Investments Management Corporation (“SIMC”) have entered into an investment advisory agreement (the “Advisory Agreement”). Pursuant to the Advisory Agreement, SIMC oversees the investment advisory services provided to the series of the Trust (the “Funds”) and may manage all or a portion of the Funds’ assets. Pursuant to separate sub-advisory agreements (the “Sub-Advisory Agreements” and, together with the Advisory Agreement, the “Investment Advisory Agreements”) with SIMC, and under the supervision of SIMC and the Trust’s Board of Trustees (the “Board”), the sub-advisers (each, a “Sub-Adviser” and collectively, the “Sub-Advisers”) are responsible for the day-to-day investment management of all or a discrete portion of the assets of the Funds. The Sub-Advisers are also responsible for managing their employees who provide services to these Funds. The Sub-Advisers are selected based primarily upon the research and recommendations of SIMC, which evaluates quantitatively and qualitatively the Sub-Advisers’ skills and investment results in managing assets for specific asset classes, investment styles and strategies.

The Investment Company Act of 1940, as amended (the “1940 Act”) requires that the initial approval of, as well as the continuation of, the Funds’ Investment Advisory Agreements must be specifically approved: (i) by the vote of the Board or by a vote of the shareholders of the Funds; and (ii) by the vote of a majority of the Trustees who are not parties to the Investment Advisory Agreements or “interested persons” of any party (the “Independent Trustees”), cast in person at a meeting called for the purpose of voting on such approval(s). In connection with their consideration of such approval(s), the Funds’ Trustees must request and evaluate, and SIMC and the Sub-Advisers are required to furnish, such information as may be reasonably necessary to evaluate the terms of the Investment Advisory Agreements. In addition, the Securities and Exchange Commission takes the position that, as part of their fiduciary duties with respect to a mutual fund’s fees, mutual fund boards are required to evaluate the material factors applicable to a decision to approve an Investment Advisory Agreement.

Consistent with these responsibilities, the Board calls and holds meetings each year that are dedicated to considering whether to approve new and terminate or renew existing Investment Advisory Agreements between the Trust and SIMC and SIMC and the Sub-Advisers with respect to the Funds. In preparation for these meetings, the Board requests and reviews a wide variety of materials provided by SIMC and the Sub-Advisers, including information about SIMC’s and the Sub-Advisers’ affiliates, personnel and operations. The Board also receives data from third parties. This information is provided in addition to the detailed information about the Funds that the Board reviews during the course of each year, including information that relates to Fund operations and Fund performance. The Trustees also receive a memorandum from counsel regarding the responsibilities of Trustees in connection with their consideration of whether to approve the Trust’s Investment Advisory Agreements. Finally, the Independent Trustees receive advice from independent counsel to the Independent Trustees, meet in executive sessions outside the presence of Fund management and participate in question and answer sessions with representatives of SIMC and the Sub-Advisers.

Specifically, during the course of the Trust’s fiscal year, the Board requested and received written materials from SIMC and the Sub-Advisers regarding: (i) the quality of SIMC’s and the Sub-Advisers’ investment management and other services; (ii) SIMC’s and the Sub-Advisers’ investment management personnel; (iii) SIMC’s and the Sub-Advisers’ operations and financial condition; (iv) SIMC’s and the Sub-Advisers’ brokerage practices (including any soft dollar arrangements) and investment strategies; (v) the level of the advisory fees that SIMC charges the Funds and the level of the sub-advisory fees that SIMC pays the Sub-Advisers, compared with fees each charge to comparable accounts; (vi) the advisory fees charged by SIMC and the Funds’ overall fees and operating expenses compared with peer groups of mutual funds generally, as classified by Lipper (unless otherwise adjusted), an independent provider of investment company data; (vii) the level of SIMC’s and the Sub-Advisers’ profitability from their Fund-related operations; (viii) SIMC’s and the Sub-Advisers’ compliance systems; (ix) the Adviser’s and Sub-Advisers’ potential economies of scale; (x) SIMC’s and the Sub-Advisers’ policies on and compliance procedures for personal securities transactions; (xi) SIMC’s and the Sub-Advisers’ expertise and resources in domestic and/or international financial markets; and (xii) the Funds’ performance compared with peer groups of mutual funds as classified by Lipper (unless otherwise adjusted) and the Funds’ benchmark indices.

66 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

At the December 9-10, 2014 and March 24-25, 2015 meetings of the Board, the Trustees, including a majority of the Independent Trustees, approved the Advisory Agreement and approved the selection of SIMC and certain Sub-Advisers to act in their respective capacities for the Funds. The Board’s approval was based on its consideration and evaluation of a variety of specific factors discussed at the meetings and at prior meetings, including but not necessarily limited to:

• the nature, extent and quality of the services provided to the Funds under the Investment Advisory Agreements, including the resources of SIMC and the Sub-Advisers dedicated to the Funds;

• the Funds’ investment performance and how it compared to that of other comparable mutual funds and the applicable benchmarks;

• the Funds’ expenses under each Investment Advisory Agreement and how those expenses compared to those of other comparable mutual funds;

• the profitability of SIMC and, in most cases, the Sub-Advisers and their affiliates with respect to the Funds, including both direct and indirect benefits accruing to SIMC and the Sub-Advisers and their affiliates; and

• the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Investment Advisory Agreements reflect those economies of scale for the benefit of Fund investors.

Nature, Extent and Quality of Services. The Board considered the nature, extent and quality of the services provided by SIMC and the Sub-Advisers to the Funds and the resources of SIMC and the Sub-Advisers and their affiliates dedicated to the Funds. In this regard, the Trustees evaluated, among other things, SIMC’s and each Sub-Adviser’s personnel, experience, track record and compliance program. Following evaluation, the Board concluded that, within the context of its full deliberations, the nature, extent and quality of services provided by SIMC and the Sub-Advisers to the Funds and the resources of SIMC and the Sub-Advisers and their affiliates dedicated to the Funds were sufficient to support renewal of the Investment Advisory Agreements.

Fund Performance. The Board considered Fund performance in determining whether to approve new and terminate or renew existing Investment Advisory Agreements. Specifically, the Trustees considered the Funds’ performance relative to their peer groups and appropriate indices/benchmarks in light of total return, yield and market trends. As part of this review, the Trustees considered the composition of each peer group and selection criteria. In evaluating performance, the Trustees considered both market risk and shareholder risk expectations for the Funds. The Trustees found Fund performance satisfactory, or, where performance was materially below the benchmark and/or peer group, the Trustees were satisfied that appropriate steps were being taken, but agreed that they would continue to closely monitor the Fund performance. Following evaluation, the Board concluded that, within the context of its full deliberations, the performance of the Funds was sufficient to support renewal of the Investment Advisory Agreements.

Fund Expenses. With respect to the Funds’ expenses under the Investment Advisory Agreements, the Trustees considered the rate of compensation called for by the Investment Advisory Agreements and the Funds’ net operating expense ratio in comparison to those of the Funds’ respective peer groups. The Trustees further considered the fact that the comparative fee analysis either showed that the various fees were below average or that there was a reasonable basis for the fee level. The Trustees also considered the effects of SIMC’s contractual and voluntary waiver of management and other fees to prevent total Fund expenses from exceeding a specified cap and concluded that SIMC, through waivers, has maintained the Funds’ net operating expenses at competitive levels for its distribution channels. Following evaluation, the Board concluded that, within the context of its full deliberations, the expenses of the Funds are reasonable and supported renewal of the Investment Advisory Agreements.

Profitability. With regard to profitability, the Trustees considered compensation flowing to SIMC and the Sub-Advisers and their affiliates, directly or indirectly. The Trustees considered whether the levels of compensation and profitability were reasonable. The Trustees found that profitability was reasonable. When considering the profitability of the Sub-Advisers, the Board took into account the fact that the Sub-Advisers are compensated by SIMC and not by the Funds directly, and such compensation with

SEI Institutional International Trust / Semi-Annual Report / March 31, 2015 67

Board of Trustees Considerations in Approving the Funds’ Investment Advisory and Sub-Advisory Agreements (Unaudited) (Concluded)

respect to any unaffiliated Sub-Adviser reflects an arms-length negotiation between the Sub-Adviser and SIMC. Based on this evaluation, the Board concluded that, within the context of its full deliberations, the profitability of each of SIMC and the Sub-Advisers is reasonable and supported renewal of the Investment Advisory Agreements.

Economies of Scale. The Trustees considered the existence of any economies of scale and whether those were passed along to the Funds’ shareholders through a graduated investment advisory fee schedule or other means, including any fee waivers by SIMC and its affiliates. The Trustees recognized that economies of scale are difficult to identify and quantify and are rarely identifiable on a fund-by-fund basis. Based on this evaluation, the Board was unable to conclude that economies of scale, if any, were not appropriately shared with the Funds.

Based on the Trustees’ deliberation and their evaluation of the information described above, the Board, including all of the Independent Trustees, unanimously approved the continuation of the Investment Advisory Agreements and concluded that the compensation under the Investment Advisory Agreements is fair and reasonable in light of such services and expenses and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment. In the course of their deliberations, different factors may have been given varied weight by different Trustees, and the Trustees did not identify any particular information that was all-important or controlling.

68 SEI Institutional International Trust / Semi-Annual Report / March 31, 2015

SEI INSTITUTIONAL INTERNATIONAL TRUST SEMI-ANNUAL REPORT MARCH 31, 2015

Robert A. Nesher, Chairman

Trustees

William M. Doran

George J. Sullivan, Jr.

Nina Lesavoy

James M. Williams

Mitchell A. Johnson

Hubert L. Harris, Jr.

Officers

Robert A. Nesher

President and Chief Executive Officer

Peter A. Rodriguez

Controller and Chief Financial Officer

Russell Emery

Chief Compliance Officer

Timothy D. Barto

Vice President, Secretary

Aaron Buser

Vice President, Assistant Secretary

David F. McCann

Vice President, Assistant Secretary

Stephen G. MacRae

Vice President

Investment Adviser

SEI Investments Management Corporation

Administrator

SEI Investments Global Funds Services

Distributor

SEI Investments Distribution Co.

Legal Counsel

Morgan, Lewis & Bockius LLP

Independent Registered Public Accounting Firm

KPMG LLP

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Trust and must be preceded or accompanied by a current prospectus. Shares of the SEI Funds are not deposits or obligations of, or guaranteed or endorsed by, any bank. The shares are not federally insured by the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, or any other government agency. Investment in the shares involves risk, including the possible loss of principal.

For more information call

1 800 DIAL SEI

(1 800 342 5734)

1 Freedom Valley Drive, P.O. Box 1100, Oaks, PA 19456

SEI-F-031 (3/15)

Item 2. Code of Ethics.

Not applicable for semi-annual report.

Item 3. Audit Committee Financial Expert.

Not applicable for semi-annual report.

Item 4. Principal Accountant Fees and Services.

Not applicable for semi-annual report.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Schedule of Investments.

The Schedules of Investments in securities of unaffiliated issuers as of the close of the reporting period for the International Equity Fund, the Emerging Markets Equity Fund, the International Fixed Income Fund and the Emerging Markets Debt Fund are included as part of the report to shareholders filed under Item 1 of this form.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

The Registrant has a standing Governance Committee (the “Committee”) currently consisting of the independent trustees. The Committee is responsible for evaluating and recommending nominees for election to the Registrant’s Board of Trustees (the “Board”). Pursuant to the Committee’s Charter, adopted on June 18, 2004, the Committee will review all shareholder recommendations for nominations to fill vacancies on the Board if such recommendations are submitted in writing and addressed to the Committee at the Registrant’s office.

Item 11. Controls and Procedures.

(a) The Registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) are effective, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)) as of a date within 90 days of the filing date of this report.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 274.130)) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Items 12. Exhibits.

(a)(1) Not applicable for semi-annual report.

(a)(2) A separate certification for the principal executive officer and the principal financial officer of the Registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), as amended, are filed herewith.

(b) Officer certifications as required by Rule 30a-2(b) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(b)), also accompany this filing as an exhibit.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	SEI Institutional International Trust
By	/s/  Robert A. Nesher
	Robert A. Nesher, President & CEO

Date: June 5, 2015

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By	/s/  Robert A. Nesher
	Robert A. Nesher, President & CEO

Date: June 5, 2015

By	/s/  Peter A. Rodriguez
	Peter A. Rodriguez, Controller & CFO

Date: June 5, 2015

EX-99.CERT

Certification

Pursuant to Section 302

of the Sarbanes-Oxley Act of 2002

I, Robert A. Nesher, certify that:

1. I have reviewed this report on Form N-CSRS of SEI Institutional International Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer(s) and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: June 5, 2015

/s/  Robert A. Nesher

Robert A. Nesher

President & CEO

Certification

Pursuant to Section 302

of the Sarbanes-Oxley Act of 2002

I, Peter A. Rodriguez, certify that:

1. I have reviewed this report on Form N-CSRS of SEI Institutional International Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer(s) and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: June 5, 2015

/s/  Peter A. Rodriguez

Peter A. Rodriguez

Controller & CFO

EX-99.906CERT

CERTIFICATION

Pursuant to Section 906

of the Sarbanes-Oxley Act of 2002

The undersigned, the President and Chief Executive Officer of SEI Institutional International Trust (the “Trust”), with respect to the Trust’s Form N-CSRS for the period ended March 31, 2015 as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

1. such Form N-CSRS fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. the information contained in such Form N-CSRS fairly presents, in all material respects, the financial condition and results of operations of the Trust.

Dated: June 5, 2015

/s/  Robert A. Nesher

Robert A. Nesher

CERTIFICATION

Pursuant to Section 906

of the Sarbanes-Oxley Act of 2002

The undersigned, the Controller & CFO of SEI Institutional International Trust (the “Trust”), with respect to the Trust’s Form N-CSRS for the period ended March 31, 2015 as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

1. such Form N-CSRS fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. the information contained in such Form N-CSRS fairly presents, in all material respects, the financial condition and results of operations of the Trust.

Dated: June 5, 2015

/s/  Peter A. Rodriguez

Peter A. Rodriguez