SEI has made the decision to remove Fiera Capital Corporation (Fiera) from the SEI Canadian Small Company Equity Fund (the Fund).

Rationale

Fiera alerted us to the departure of lead portfolio manager Christian Cyr in late December 2017. Cyr was lead on the strategy since 2000; his departure was a surprise. Given his prominence and key role in the strategy, SEI considered Cyr’s departure a trigger for reevaluation.

The portion of the Fund’s assets that was managed by Fiera has been reallocated to Laurus Investment Counsel (Laurus), a benchmark-agnostic
sub-adviser that focuses on companies with strong management and business models that benefit from the power of long-term compounding. Laurus’ strategy better aligns with our stability alpha source.

Glossary of Financial Terms

Alpha Source: Alpha source is a term used by SEI as part of our internal classification system to categorize and evaluate investment managers in order to build diversified fund portfolios. An alpha source is the investment approach taken by an active investment manager in an effort to generate excess returns. Another way to define an alpha source is that it is the inefficiency that an active investment manager seeks to exploit in order to add
value.

Stability: Stability refers to stocks that are considered to be resistant to market volatility and provide consistent returns through market fluctuations.











SEI Investments Canada Company, a wholly owned subsidiary of SEI Investments Company, is the Manager of the SEI Funds in Canada. The information contained herein is for general and educational information purposes only and is not intended to constitute legal, tax, accounting, ecurities, research or investment advice regarding the Funds or any security in particular, nor an opinion regarding the appropriateness of any  nvestment. This information should not be construed as a recommendation to purchase or sell a security, derivative or futures contract. You should not act or rely on the information contained herein without obtaining specific legal, tax, accounting and investment advice from an investment professional. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. There is no assurance as of the date of this material that the securities mentioned remain in or out
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