The banking industry has come under pressure in recent days, driven by unrelated events in the United States and in Europe. Government intervention in both cases sought to calm markets.

Sector view

As of February 28, 2023, active weights within the banks or banking subindustries in our portfolios are as follows:

Outlook*

In general, our positioning in the Banking sector is driven by our preference for Value in our equity Funds and risk-adjusted yield in our fixed-income funds. While volatility in this space may remain elevated in the near term, we view recent government action both in the U.S. and Europe as meaningful steps to circumvent further liquidity concerns. SEI and our managers will continue to monitor the situation closely.
 

Important information*

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.

Statements that are not factual in nature, including opinions, projections and estimates, assume certain economic conditions and industry developments and constitute only current opinions that are subject to change without notice. Nothing herein is intended to be a forecast of future events, or a guarantee of future results.

Certain economic and market information contained herein has been obtained from published sources prepared by other parties, which in certain cases have not been updated through the date hereof. While such sources are believed to be reliable, neither SEI nor its affiliates assumes any responsibility for the accuracy or completeness of such information and such information has not been independently verified by SEI.

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Information provided in Canada by SEI Investments Canada Company, the Manager of the SEI Funds in Canada. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments and the use of an asset allocation service. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

*The views contained herein are not to be taken as advice or a recommendation to buy or sell any investment in any jurisdiction. Our outlook contains forward-looking statements that are judgments based upon our current assumptions, beliefs and expectations. If any of the factors underlying our current assumptions, beliefs or expectations change, our statements as to potential future events or outcomes may be incorrect. We undertake no obligation to update our forward-looking statements.