SEI has made the decision to remove Jackson Square Partners, LLC (JSP) from the SEI U.S. Large Company Equity Fund (the Fund), effective July 3, 2018.

Rationale

JSP’s investment strategy has not provided consistent alpha-source exposure in the Fund. Over time, JSP’s portfolio has had varying levels of exposure to stability, momentum and value. We also have concerns with JSP’s sell discipline.

Therefore, we have decided to remove JSP as a sub-adviser to the Fund and are replacing it with sub-advisers that we believe can produce more reliable alpha-source exposure.

Mar Vista Investment Partners, LLC will replace JSP in the U.S. Large Company Equity Fund. Fiera Capital Corporation will also receive assets from JSP.

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.?

Momentum: Momentum stocks are those whose prices are expected to keep moving in the same direction (either up or down) and are not likely to change direction in the short-term.

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

Value: Value stocks are those that are considered to be cheap and are trading for less than they are worth.








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, securities, research or investment advice regarding the Funds or any security in particular, nor an opinion regarding the appropriateness of any investment. 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 of the SEI Funds. The portfolio managers or the allocations of assets to a particular portfolio manager are subject to change from time to time at the Manager’s discretion. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or other offering documents before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.