SEIMX: SEI Intermediate-Term Municipal F (STET)

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SEIMX SEI Intermediate-Term Municipal F (STET)


Profile

SEIMX - Profile

Vitals

  • YTD Return -1.8%
  • 3 Yr Annualized Return 0.6%
  • 5 Yr Annualized Return 0.0%
  • Net Assets $2.2 B
  • Holdings in Top 10 5.9%

52 WEEK LOW AND HIGH

$11.73
$10.85
$12.29

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.80%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 17.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $100,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -1.8%
  • 3 Yr Annualized Total Return 0.6%
  • 5 Yr Annualized Total Return 0.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.44%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SEI Tax Exempt Trust Intermediate-Term Municipal Fund
  • Fund Family Name
    SEI
  • Inception Date
    Sep 05, 1989
  • Shares Outstanding
    165287391
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Richard Bamford

Fund Description

The fund will invest, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade municipal securities that pay interest that is exempt from federal income tax, including, but not limited to, municipal bonds, notes and commercial paper.


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Categories

Performance

SEIMX - Performance

Return Ranking - Trailing

Period SEIMX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -23.6% 195.6% 66.33%
1 Yr 0.2% -22.3% 190.1% 61.51%
3 Yr 0.6%* -7.3% 7.2% 39.82%
5 Yr 0.0%* -6.0% 12.0% 27.80%
10 Yr 0.6%* -5.4% 3.9% 21.99%

* Annualized

Return Ranking - Calendar

Period SEIMX Return Category Return Low Category Return High Rank in Category (%)
2019 4.3% -4.3% 18.3% 45.74%
2018 -1.9% -11.7% 4.6% 33.54%
2017 2.1% -6.0% 8.3% 19.54%
2016 -2.6% -7.8% 7.7% 77.20%
2015 0.2% -18.3% 3.0% 8.65%

Total Return Ranking - Trailing

Period SEIMX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -23.6% 195.6% 66.15%
1 Yr 0.2% -22.3% 190.1% 61.22%
3 Yr 0.6%* -7.3% 9.3% 45.78%
5 Yr 0.0%* -6.0% 12.0% 40.66%
10 Yr 0.6%* -5.4% 6.7% 41.56%

* Annualized

Total Return Ranking - Calendar

Period SEIMX Return Category Return Low Category Return High Rank in Category (%)
2019 4.3% -4.3% 18.3% 46.44%
2018 -1.9% -11.7% 6.5% 42.49%
2017 2.1% -6.0% 10.4% 30.66%
2016 -2.6% -7.8% 10.7% 79.65%
2015 0.2% -12.6% 4.2% 15.22%

NAV & Total Return History


Holdings

SEIMX - Holdings

Concentration Analysis

SEIMX Category Low Category High SEIMX % Rank
Net Assets 2.2 B 652 K 269 B 25.07%
Number of Holdings 813 1 17723 20.68%
Net Assets in Top 10 130 M -216 M 24.5 B 48.88%
Weighting of Top 10 5.90% 2.4% 100.0% 96.98%

Top 10 Holdings

  1. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 0.90%
  2. CITIZENS PPTY INS CORP FLA 5% 0.81%
  3. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 0.77%
  4. TOBACCO SETTLEMENT FING CORP N J 5% 0.57%
  5. DENVER COLO CITY & CNTY ARPT REV 5.5% 0.53%
  6. CONNECTICUT ST 5% 0.52%
  7. CALIFORNIA ST 5% 0.48%
  8. PHILADELPHIA PA SCH DIST 5% 0.44%
  9. PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.55% 0.44%
  10. KING CNTY WASH PUB HOSP DIST NO 001 5% 0.44%

Asset Allocation

Weighting Return Low Return High SEIMX % Rank
Bonds
99.59% 80.16% 159.74% 23.99%
Cash
0.41% -59.74% 19.63% 73.27%
Stocks
0.00% -0.38% 24.73% 95.32%
Preferred Stocks
0.00% 0.00% 7.43% 96.51%
Other
0.00% -4.63% 28.26% 90.89%
Convertible Bonds
0.00% 0.00% 7.24% 98.34%

Bond Sector Breakdown

Weighting Return Low Return High SEIMX % Rank
Municipal
99.59% 0.00% 100.11% 15.96%
Cash & Equivalents
0.41% -29.57% 39.95% 79.97%
Derivative
0.00% -0.83% 31.05% 95.64%
Securitized
0.00% 0.00% 98.30% 98.49%
Corporate
0.00% 0.00% 99.29% 98.85%
Government
0.00% -2.21% 122.41% 98.49%

Bond Geographic Breakdown

Weighting Return Low Return High SEIMX % Rank
US
98.54% 61.81% 156.78% 22.66%
Non US
1.05% -17.15% 26.76% 68.16%

Expenses

SEIMX - Expenses

Operational Fees

SEIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.80% 0.01% 34.57% 47.61%
Management Fee 0.33% 0.00% 1.10% 32.53%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.20% 0.00% 0.50% 93.62%

Sales Fees

SEIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

SEIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SEIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 17.00% 0.00% 489.00% 21.71%

Distributions

SEIMX - Distributions

Dividend Yield Analysis

SEIMX Category Low Category High SEIMX % Rank
Dividend Yield 0.00% 0.00% 3.57% 96.83%

Dividend Distribution Analysis

SEIMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

SEIMX Category Low Category High SEIMX % Rank
Net Income Ratio 2.44% -0.20% 6.30% 57.57%

Capital Gain Distribution Analysis

SEIMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

SEIMX - Fund Manager Analysis

Managers

Richard Bamford


Start Date

Tenure

Tenure Rank

Dec 31, 1999

20.18

20.2%

Richard A. Bamford serves as a Portfolio Manager for the Fixed Income Team within SIMC's Investment Management Unit. Mr. Bamford is responsible for investment grade debt and municipal bond portfolios. Mr. Bamford's duties include manager analysis and selection, strategy development and enhancement as well as investment research. Mr. Bamford has over 20 years of investment experience in investment management. Prior to joining SEI in 1999, Mr. Bamford worked as a Municipal Credit Analyst for Vanguard. Mr. Bamford received a Bachelor of Science in Economics/Finance and Accounting from the University of Scranton and an M.B.A. with a concentration in Finance from St. Joseph's University.

Stephen Czepiel


Start Date

Tenure

Tenure Rank

Dec 31, 2007

12.17

12.2%

Stephen J. Czepiel Senior Vice President, Head of Municipal Bonds Portfolio Management, Senior Portfolio Manager Stephen J. Czepiel leads the portfolio management of the firm’s municipal bonds strategies, a role he assumed in February 2019. He is a co-portfolio manager of the firm’s municipal bond funds and client accounts, a role he has held since August 2007. He joined Macquarie Investment Management (MIM) in July 2004 as a senior bond trader. Previously, he was vice president at both Mesirow Financial and Loop Capital Markets. He began his career in the securities industry in 1982 as a municipal bond trader at Kidder Peabody and now has more than 20 years of experience in the municipal securities industry. Czepiel earned his bachelor’s degree in finance and economics from Duquesne University.

Daniel Rabasco


Start Date

Tenure

Tenure Rank

Dec 31, 2010

9.17

9.2%

Dan is the head of municipal bonds at Mellon Investments Corp, overseeing and guiding the investment management process for the firm’s tax-exempt strategies. Previously, he was the head of trading for tax-exempt bonds, responsible for managing the municipal bond trading desk. Before joining the firm, Dan directed the municipal bond group at Fleet where he was responsible for managing mutual fund, common trust fund and high net worth client assets. Previously, he was a portfolio manager at Evergreen Investments, where he managed national and state-specific mutual funds. His other responsibilities included hospital and high yield credit analysis. Dan began his career as a municipal analyst at Liberty Insurance Company. Dan has been in the investment industry since 1987. Dan holds a BA from Boston College and an MBA from Suffolk University. Dan has served as a member of the Municipal Securities Rulemaking Board's Investor Advisory Group (2004-2008). He holds the CFA® designation and is a member of the CFA Institute.

Gregory Gizzi


Start Date

Tenure

Tenure Rank

Dec 31, 2012

7.17

7.2%

Gregory A. Gizzi Senior Vice President, Head of Municipal Bonds, Senior Portfolio Manager Gregory A. Gizzi is head of municipal bonds in the Americas, a role he assumed in February 2019. In this role, he is responsible for the overall operation of the strategy and is team lead on several of the tax-exempt strategies. Additionally, Gizzi continues to be responsible for the taxable municipal business and the marketing efforts for the municipal product. Previously, Gizzi was co-portfolio manager of the firm’s municipal bond funds and several client accounts, a role he held since November 2011. Before joining Macquarie Investment Management (MIM) in January 2008 as head of municipal bond trading, he spent six years as a vice president at Lehman Brothers for the firm’s tax-exempt institutional sales effort. Prior to that, he spent two years trading corporate bonds for UBS before joining Lehman Brothers in a sales capacity. Gizzi has more than 20 years of trading experience in the municipal securities industry, beginning at Kidder Peabody in 1984, where he started as a municipal bond trader and worked his way up to institutional block trading desk manager. He later worked in the same capacity at Dillon Read. Gizzi earned his bachelor’s degree in economics from Harvard University.

Erin Garrett


Start Date

Tenure

Tenure Rank

Dec 31, 2014

5.17

5.2%

Ms. Garrett serves as a Portfolio Manager for the SEI US Investment Grade fixed income strategies within the Investment Management Unit. Ms. Garrett is responsible for the selection of fund sub-advisers and the allocations among these managers to optimize diversification of style and alpha source within the fixed income funds. In this capacity, Ms. Garrett primarily oversees daily cash flows, portfolio exposures, portfolio risks, and performance attribution. In her preceding role, Ms. Garrett was an Analyst on the Global Fixed Income team responsible for in-depth due diligence on existing and prospective investment managers for SEI's US fixed-income portfolios. Ms. Garrett earned a Bachelor of Science in Business Administration/Finance and her M.B.A. with concentrations in Strategic Management and International Business from the Villanova University School of Business, where she graduated magna cum laude. Ms. Garrett is the former President of SEI's Women's Network and currently serves on the SEI Corporate Innovation team.

Brad Libby


Start Date

Tenure

Tenure Rank

Jul 19, 2019

0.62

0.6%

Brad W. Libby, Managing Director and Fixed Income Portfolio Manager/Credit Analyst of Wellington Management. Mr. Libby joined Wellington Management as an investment professional in 2010. Prior to joining Wellington Management, Mr. Libby is Senior Vice President and Tax Exempt Specialist on the Tax Exempt Fixed Income team. He is a Portfolio Member of Putnam's tax-exempt fixed income funds. He originally joined Putnam in 1996 as an Investment Associate in the Tax Exempt Fixed Income Group before leaving to pursue an M.B.A.; he returned as a Tax Exempt Bond Analyst in 2001.

Jake van Roden


Start Date

Tenure

Tenure Rank

Dec 31, 2019

0.16

0.2%

Delaware Management Company Senior Vice President, Head of Municipal Trading, Portfolio Manager Jake van Roden is head of Macquarie’s municipal trading team. He is also a portfolio manager for the firm’s nine open-end state-specific municipal bond funds, as well as for several municipal bond client accounts, a role he assumed in December 2017. In February 2019, his portfolio management role expanded to include the closed-end municipal bond funds and the three national municipal open-end funds.He joined the municipal department in July 2004 as a generalist and became head of municipal trading in December 2012. Before that, van Roden interned at Macquarie Investment Management (MIM), which includes the former Delaware Investments, in the client services department. He received a bachelor’s degree in American studies with a minor in government from Franklin & Marshall College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 33.27 7.41 0.16