Table of Contents
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, 2013
Date of reporting period: March 31, 2013
Table of Contents
Item 1. | Reports to Stockholders. |
Table of Contents
March 31, 2013
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
1 | ||||
26 | ||||
27 | ||||
28 | ||||
30 | ||||
31 | ||||
41 | ||||
Board of Trustees Considerations in Approving | 42 |
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.
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
International Equity Fund
March 31, 2013
Description | Percentage of Net Assets (%) | Market Value ($ Thousands) | ||||||||||
COMMON STOCK — 92.4% | ||||||||||||
Argentina — 0.0% | ||||||||||||
Other Securities | 0.0 | % | $ | 42 | ||||||||
|
| |||||||||||
Australia — 3.0% | ||||||||||||
Other Securities | 3.0 | 60,345 | ||||||||||
|
| |||||||||||
Austria — 0.1% | ||||||||||||
Other Securities | 0.1 | 2,755 | ||||||||||
|
| |||||||||||
Belgium — 1.2% | ||||||||||||
Other Securities | 1.2 | 23,794 | ||||||||||
|
| |||||||||||
Bosnia and Herzegovina — 0.1% | ||||||||||||
Other Securities | 0.1 | 2,727 | ||||||||||
|
| |||||||||||
Brazil — 0.3% | ||||||||||||
Other Securities | 0.3 | 5,201 | ||||||||||
|
| |||||||||||
Canada — 3.3% | ||||||||||||
Other Securities | 3.3 | 67,171 | ||||||||||
|
| |||||||||||
Chile — 0.2% | ||||||||||||
Other Securities | 0.2 | 3,965 | ||||||||||
|
| |||||||||||
China — 0.4% | ||||||||||||
Other Securities | 0.4 | 8,326 | ||||||||||
|
| |||||||||||
Colombia — 0.1% | ||||||||||||
Other Securities | 0.1 | 2,426 | ||||||||||
|
| |||||||||||
Denmark — 0.8% | ||||||||||||
Other Securities | 0.8 | 15,772 | ||||||||||
|
| |||||||||||
Finland — 0.3% | ||||||||||||
Other Securities | 0.3 | 6,530 | ||||||||||
|
|
Description | Percentage of Net Assets (%) | Shares | Market Value ($ Thousands) | |||||||||||
France — 9.9% |
| |||||||||||||
Arkema | 0.5 | % | 112,875 | $ | 10,267 | |||||||||
BNP Paribas | 0.8 | 324,022 | 16,629 | |||||||||||
Sanofi | 2.0 | 405,180 | 41,167 | |||||||||||
Schneider Electric | 0.9 | 251,025 | 18,339 | |||||||||||
Other Securities | 5.7 | 114,239 | ||||||||||||
|
| |||||||||||||
200,641 | ||||||||||||||
|
| |||||||||||||
Germany — 8.3% |
| |||||||||||||
Bayer | 0.6 | 123,757 | 12,764 | |||||||||||
Daimler | 0.6 | 240,659 | 13,092 | |||||||||||
Deutsche Boerse | 0.5 | 163,379 | 9,893 | |||||||||||
Linde | 0.8 | 87,380 | 16,245 | |||||||||||
Muenchener Rueckversicherungs | 0.5 | 51,184 | 9,572 | |||||||||||
Siemens | 0.8 | 154,523 | 16,642 | |||||||||||
Other Securities | 4.5 | 91,042 | ||||||||||||
|
| |||||||||||||
169,250 | ||||||||||||||
|
| |||||||||||||
Greece — 0.0% |
| |||||||||||||
Other Securities | 0.0 | 56 | ||||||||||||
|
| |||||||||||||
Hong Kong — 3.4% |
| |||||||||||||
Other Securities | 3.4 | 68,215 | ||||||||||||
|
| |||||||||||||
India — 0.3% |
| |||||||||||||
Other Securities | 0.3 | 6,638 | ||||||||||||
|
| |||||||||||||
Indonesia — 0.2% |
| |||||||||||||
Other Securities | 0.2 | 4,183 | ||||||||||||
|
| |||||||||||||
Ireland — 0.8% |
| |||||||||||||
Other Securities | 0.8 | 16,396 | ||||||||||||
|
| |||||||||||||
Israel — 1.1% |
| |||||||||||||
Check Point Software Technologies* | 0.6 | 253,860 | 11,929 | |||||||||||
Other Securities | 0.5 | 11,222 | ||||||||||||
|
| |||||||||||||
23,151 | ||||||||||||||
|
| |||||||||||||
Italy — 0.8% |
| |||||||||||||
Other Securities | 0.8 | 16,834 | ||||||||||||
|
| |||||||||||||
Japan — 15.8% |
| |||||||||||||
Bridgestone | 0.5 | 294,500 | 9,916 | |||||||||||
Fanuc | 0.6 | 83,700 | 12,882 | |||||||||||
Jupiter Telecommunications* | 0.6 | 8,833 | 11,587 | |||||||||||
KDDI (A) | 0.5 | 229,400 | 9,429 | |||||||||||
Mabuchi Motor (A) | 0.4 | 166,200 | 8,985 | |||||||||||
Nippon Telegraph & Telephone | 0.5 | 210,800 | 9,191 | |||||||||||
Nippon Telegraph & Telephone ADR | 0.2 | 164,263 | 3,571 | |||||||||||
Seven & I Holdings | 0.6 | 337,700 | 11,173 | |||||||||||
SMC (A) | 0.8 | 87,900 | 16,973 |
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 1 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
International Equity Fund (Continued)
March 31, 2013
Description | Percentage of Net Assets (%) | Shares | Market Value ($ Thousands) | |||||||||||
Sumitomo Mitsui Financial Group | 0.6 | % | 282,700 | $ | 11,335 | |||||||||
Toyota Motor | 0.9 | 349,800 | 18,057 | |||||||||||
Toyota Motor ADR | 0.1 | 25,066 | 2,573 | |||||||||||
Other Securities | 9.5 | 196,407 | ||||||||||||
|
| |||||||||||||
322,079 | ||||||||||||||
|
| |||||||||||||
Malta — 0.0% |
| |||||||||||||
Other Securities | 0.0 | — | ||||||||||||
|
| |||||||||||||
Mexico — 0.0% |
| |||||||||||||
Other Securities | 0.0 | 560 | ||||||||||||
|
| |||||||||||||
Netherlands — 4.6% |
| |||||||||||||
Akzo Nobel | 0.9 | 298,975 | 18,976 | |||||||||||
Koninklijke Ahold | 0.5 | 636,066 | 9,746 | |||||||||||
Reed Elsevier | 0.7 | 843,161 | 14,443 | |||||||||||
Unilever | 0.7 | 325,500 | 13,332 | |||||||||||
Other Securities | 1.8 | 37,588 | ||||||||||||
|
| |||||||||||||
94,085 | ||||||||||||||
|
| |||||||||||||
New Zealand — 0.1% |
| |||||||||||||
Other Securities | 0.1 | 2,201 | ||||||||||||
|
| |||||||||||||
Norway — 1.5% |
| |||||||||||||
DnB | 0.7 | 961,047 | 14,090 | |||||||||||
Statoil | 0.5 | 394,901 | 9,545 | |||||||||||
Other Securities | 0.3 | 6,002 | ||||||||||||
|
| |||||||||||||
29,637 | ||||||||||||||
|
| |||||||||||||
Portugal — 0.1% |
| |||||||||||||
Other Securities | 0.1 | 1,004 | ||||||||||||
|
| |||||||||||||
Russia — 0.7% |
| |||||||||||||
Sberbank of Russia ADR | 0.5 | 752,179 | 9,590 | |||||||||||
Other Securities | 0.2 | 4,633 | ||||||||||||
|
| |||||||||||||
14,223 | ||||||||||||||
|
| |||||||||||||
Singapore — 1.3% |
| |||||||||||||
Other Securities | 1.3 | 26,987 | ||||||||||||
|
| |||||||||||||
South Africa — 0.3% |
| |||||||||||||
Other Securities | 0.3 | 5,548 | ||||||||||||
|
| |||||||||||||
South Korea — 1.8% |
| |||||||||||||
Samsung Electronics | 0.6 | 9,173 | 12,590 | |||||||||||
Other Securities | 1.2 | 23,736 | ||||||||||||
|
| |||||||||||||
36,326 | ||||||||||||||
|
| |||||||||||||
Spain — 0.9% |
| |||||||||||||
Other Securities | 0.9 | 18,412 | ||||||||||||
|
|
Description | Percentage of Net Assets (%) | Shares | Market Value ($ Thousands) | |||||||||||
Sweden — 2.3% |
| |||||||||||||
Telefonaktiebolaget LM Ericsson, Cl B | 0.5 | % | 799,138 | $ | 9,958 | |||||||||
Telefonaktiebolaget LM | 0.1 | 169,555 | 2,136 | |||||||||||
Other Securities | 1.7 | 34,564 | ||||||||||||
|
| |||||||||||||
46,658 | ||||||||||||||
|
| |||||||||||||
Switzerland — 9.3% |
| |||||||||||||
Credit Suisse Group | 0.5 | 382,586 | 10,033 | |||||||||||
Givaudan | 0.8 | 13,281 | 16,303 | |||||||||||
Nestle | 1.1 | 318,040 | 22,986 | |||||||||||
Novartis | 1.1 | 326,185 | 23,163 | |||||||||||
Roche Holding | 1.8 | 154,046 | 35,842 | |||||||||||
SGS | 0.6 | 4,654 | 11,407 | |||||||||||
Sulzer | 0.5 | 56,389 | 9,629 | |||||||||||
Zurich Insurance Group | 0.7 | 48,573 | 13,511 | |||||||||||
Other Securities | 2.2 | 46,579 | ||||||||||||
|
| |||||||||||||
189,453 | ||||||||||||||
|
| |||||||||||||
Taiwan — 0.1% |
| |||||||||||||
Other Securities | 0.1 | 1,200 | ||||||||||||
|
| |||||||||||||
Thailand — 0.0% |
| |||||||||||||
Other Securities | 0.0 | 333 | ||||||||||||
|
| |||||||||||||
Turkey — 0.1% |
| |||||||||||||
Other Securities | 0.1 | 1,395 | ||||||||||||
|
| |||||||||||||
United Kingdom — 17.9% |
| |||||||||||||
Barclays | 0.7 | 3,070,768 | 13,584 | |||||||||||
BG Group | 0.8 | 1,003,665 | 17,216 | |||||||||||
BHP Billiton | 0.6 | 401,804 | 11,691 | |||||||||||
British American Tobacco | 0.6 | 236,142 | 12,654 | |||||||||||
Diageo | 0.5 | 295,966 | 9,331 | |||||||||||
HSBC Holdings (A) | 1.0 | 1,793,788 | 19,048 | |||||||||||
Petrofac | 0.6 | 546,001 | 11,888 | |||||||||||
Prudential | 0.5 | 567,068 | 9,176 | |||||||||||
Rio Tinto | 0.6 | 240,567 | 11,276 | |||||||||||
Tesco | 0.7 | 2,613,897 | 15,153 | |||||||||||
Vodafone Group | 0.7 | 4,992,620 | 14,155 | |||||||||||
Other Securities | 10.6 | 219,555 | ||||||||||||
|
| |||||||||||||
364,727 | ||||||||||||||
|
| |||||||||||||
United States — 1.0% | ||||||||||||||
Other Securities | 1.0 | 20,936 | ||||||||||||
|
| |||||||||||||
Total Common Stock | 1,880,182 | |||||||||||||
|
| |||||||||||||
PREFERRED STOCK — 0.6% | ||||||||||||||
Brazil — 0.0% | ||||||||||||||
Other Securities | 0.0 | 1,210 | ||||||||||||
|
|
2 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Description | Percentage of Net Assets (%) | Shares/Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Germany — 0.6% |
| |||||||||||||||
Other Securities | 0.6 | % | $ | 11,558 | ||||||||||||
|
| |||||||||||||||
Total Preferred Stock |
| 12,768 | ||||||||||||||
|
| |||||||||||||||
U.S. TREASURY OBLIGATIONS — 0.3% |
| |||||||||||||||
Other Securities | 0.3 | 5,461 | ||||||||||||||
|
| |||||||||||||||
Total U.S. Treasury Obligations |
| 5,461 | ||||||||||||||
|
| |||||||||||||||
AFFILIATED PARTNERSHIP — 2.4% |
| |||||||||||||||
SEI Liquidity Fund, L.P. 0.120%†** (B) | 2.4 | 48,764,708 | 48,765 | |||||||||||||
|
| |||||||||||||||
Total Affiliated Partnership |
| 48,765 | ||||||||||||||
|
| |||||||||||||||
CASH EQUIVALENT — 4.7% |
| |||||||||||||||
SEI Daily Income Trust, Prime Obligation Fund, Cl A | 4.7 | 94,909,952 | 94,910 | |||||||||||||
|
| |||||||||||||||
Total Cash Equivalent |
| 94,910 | ||||||||||||||
|
| |||||||||||||||
TIME DEPOSITS — 2.3% |
| |||||||||||||||
United States — 2.3% |
| |||||||||||||||
Brown Brothers Harriman | ||||||||||||||||
4.150%, 04/01/2013 | ZAR | 16 | 2 | |||||||||||||
2.070%, 04/01/2013 | AUD | 248 | 258 | |||||||||||||
1.450%, 04/01/2013 | NZD | 238 | 199 | |||||||||||||
0.650%, 04/01/2013 | NOK | 717 | 123 | |||||||||||||
0.233%, 04/01/2013 | CAD | 2 | 2 | |||||||||||||
0.071%, 04/01/2013 | GBP | 761 | 1,156 | |||||||||||||
0.050%, 04/01/2013 | SEK | 1,337 | 205 | |||||||||||||
0.030%, 04/01/2013 | 38,865 | 38,865 | ||||||||||||||
0.010%, 04/01/2013 | SGD | 9 | 7 | |||||||||||||
0.005%, 04/01/2013 | JPY | 242,955 | 2,580 | |||||||||||||
0.005%, 04/01/2013 | HKD | 7,773 | 1,001 | |||||||||||||
0.001%, 04/01/2013 | CHF | 1,188 | 1,251 | |||||||||||||
(0.028)%, 04/01/2013 | EUR | 403 | 517 | |||||||||||||
(0.150)%, 04/01/2013 | DKK | 517 | 89 | |||||||||||||
|
| |||||||||||||||
Total Time Deposits |
| 46,255 | ||||||||||||||
|
| |||||||||||||||
Total Investments — 102.7% |
| $ | 2,088,341 | |||||||||||||
|
|
A list of the open futures contracts held by the Fund at March 31, 2013, is as follows:
Type of Contract | Number of Contracts Long | Expiration Date | Unrealized Appreciation (Depreciation) ($ Thousands) | |||||||||
DJ Euro Stoxx 50 Index | 1,010 | Jun-2013 | $ | (888 | ) | |||||||
FTSE 100 Index | 305 | Jun-2013 | (93 | ) | ||||||||
Hang Seng Index | 36 | Apr-2013 | 27 | |||||||||
SPI 200 Index | 83 | Jun-2013 | (193 | ) | ||||||||
Topix Index | 198 | Jun-2013 | 776 | |||||||||
|
| |||||||||||
$ | (371 | ) | ||||||||||
|
|
For the six months ended March 31, 2013, 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 period.
Percentages are based on a Net Assets of $2,034,441 ($ Thousands).
* | Non-income producing security. |
** | Rate shown is the 7-day effective yield as of March 31, 2013. |
† | Investment in Affiliated security (See Note 4). |
(1) | In U.S. Dollars unless otherwise indicated. |
(A) | This security or a partial position of this security is on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $42,386 ($ Thousands) (See Note 8). |
(B) | 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, 2013 was $48,765 ($ Thousands). |
†† | The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available (i) without charge, upon request, by calling (800) 342-5734; and (ii) on the SEC’s website at http://www.sec.gov. |
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
SGD — Singapore Dollar
SPI — Share Price Index
ZAR — South African Rand
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 3 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
International Equity Fund (Concluded)
March 31, 2013
The following is a summary of the inputs used as of March 31, 2013, 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 | ||||||||||||
Common Stock | $ | 1,879,836 | $ | — | $ | 346 | $ | 1,880,182 | ||||||||
Preferred Stock | 12,768 | — | — | 12,768 | ||||||||||||
U.S. Treasury Obligations | — | 5,461 | — | 5,461 | ||||||||||||
Affiliated Partnership | — | 48,765 | — | 48,765 | ||||||||||||
Cash Equivalent | 94,910 | — | — | 94,910 | ||||||||||||
Time Deposits | — | 46,255 | — | 46,255 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | 1,987,514 | $ | 100,481 | $ | 346 | $ | 2,088,341 | ||||||||
|
|
|
|
|
|
|
|
Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Futures Contracts * | $ | (371 | ) | $ | — | $ | — | $ | (371 | ) | ||||||
|
|
|
|
|
|
|
|
(1) | A reconciliation of Level 3 instruments 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. |
* | Futures contracts are valued at the unrealized depreciation on the instrument. |
For the six months ended March 31, 2013, there were transfers between Level 1 and Level 2 assets and liabilities. The primary reason for changes in the classifications between Levels 1 and 2 occurs when foreign equity securities are fair valued using other observable market-based inputs in place of the closing exchange price due to events occurring after the close of the exchange or market on which the investment is principally traded (see Note 2).
For the six months ended March 31, 2013, there were no transfers from Level 2 into Level 3 assets and liabilities.
Amounts designated as “—” are $O or have been rounded to $O.
The accompanying notes are an integral part of the financial statements.
4 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
Emerging Markets Equity Fund
March 31, 2013
Description | Percentage of Net Assets (%) | Shares | Market Value ($ Thousands) | |||||||||
COMMON STOCK — 89.7% |
| |||||||||||
Argentina — 0.2% |
| |||||||||||
Other Securities | 0.2 | % | $ | 1,808 | ||||||||
|
| |||||||||||
Austria — 0.1% |
| |||||||||||
Other Securities | 0.1 | 954 | ||||||||||
|
| |||||||||||
Belgium — 0.2% |
| |||||||||||
Other Securities | 0.2 | 1,738 | ||||||||||
|
| |||||||||||
Brazil — 8.1% |
| |||||||||||
Banco Bradesco ADR | 0.5 | 263,874 | 4,491 | |||||||||
Banco do Brasil | 0.5 | 336,180 | 4,564 | |||||||||
BM&FBovespa | 0.4 | 624,984 | 4,216 | |||||||||
Petroleo Brasileiro | 0.1 | 84,822 | 707 | |||||||||
Petroleo Brasileiro ADR | 0.5 | 267,965 | 4,440 | |||||||||
Totvs | 0.5 | 227,637 | 4,665 | |||||||||
Vale | 0.1 | 61,092 | 1,054 | |||||||||
Vale ADR, Cl B | 0.4 | 239,305 | 4,138 | |||||||||
Other Securities | 5.1 | 49,915 | ||||||||||
|
| |||||||||||
78,190 | ||||||||||||
|
| |||||||||||
Canada — 1.2% |
| |||||||||||
Pacific Rubiales Energy | 0.7 | 337,634 | 7,124 | |||||||||
Other Securities | 0.5 | 4,420 | ||||||||||
|
| |||||||||||
11,544 | ||||||||||||
|
| |||||||||||
Chile — 0.7% |
| |||||||||||
Other Securities | 0.7 | 6,537 | ||||||||||
|
| |||||||||||
China — 11.6% |
| |||||||||||
AAC Technologies Holdings | 0.7 | 1,416,980 | 6,809 | |||||||||
Agricultural Bank of China | 0.6 | 11,362,732 | 5,445 | |||||||||
Baidu ADR* | 0.6 | 64,500 | 5,657 | |||||||||
Bank of China | 0.5 | 10,326,105 | 4,789 | |||||||||
China BlueChemical | 0.0 | 450,000 | 279 | |||||||||
China Construction Bank | 1.0 | 11,460,993 | 9,361 |
Description | Percentage of Net Assets (%) | Shares | Market Value ($ Thousands) | |||||||||
China Petroleum & Chemical ADR | 0.2 | % | 14,800 | $ | 1,730 | |||||||
Dongfeng Motor Group | 0.0 | 42,000 | 59 | |||||||||
Industrial & Commercial Bank of China | 1.2 | 15,938,449 | 11,170 | |||||||||
PetroChina | 0.3 | 2,384,119 | 3,127 | |||||||||
PetroChina ADR | 0.4 | 25,653 | 3,382 | |||||||||
Zhejiang Expressway* | 0.0 | 380,000 | 300 | |||||||||
Zhuzhou CSR Times Electric | 0.4 | 1,426,400 | 4,043 | |||||||||
Other Securities | 5.7 | 56,217 | ||||||||||
|
| |||||||||||
112,368 | ||||||||||||
|
| |||||||||||
Colombia — 0.8% | ||||||||||||
Other Securities | 0.8 | 8,182 | ||||||||||
|
| |||||||||||
Cyprus — 0.4% | ||||||||||||
Other Securities | 0.4 | 4,191 | ||||||||||
|
| |||||||||||
Czech Republic — 0.3% | ||||||||||||
Other Securities | 0.3 | 2,777 | ||||||||||
|
| |||||||||||
Guernsey — 0.0% | ||||||||||||
Other Securities | 0.0 | 284 | ||||||||||
|
| |||||||||||
Hong Kong — 5.7% | ||||||||||||
China Mobile | 0.9 | 833,645 | 8,828 | |||||||||
China Mobile ADR | 0.2 | 39,540 | 2,101 | |||||||||
China State Construction International Holdings | 0.5 | 3,338,984 | 4,568 | |||||||||
China Unicom Hong Kong ADR | 0.2 | 115,990 | 1,563 | |||||||||
CNOOC | 0.4 | 2,003,407 | 3,851 | |||||||||
CNOOC ADR | 0.2 | 10,110 | 1,936 | |||||||||
Cosco International Holdings | 0.0 | 208,805 | 89 | |||||||||
Dah Chong Hong Holdings | 0.0 | 416,300 | 394 | |||||||||
Other Securities | 3.3 | 31,483 | ||||||||||
|
| |||||||||||
54,813 | ||||||||||||
|
| |||||||||||
Hungary — 0.0% | ||||||||||||
Other Securities | 0.0 | 332 | ||||||||||
|
| |||||||||||
India — 6.2% | ||||||||||||
Cairn India | 0.6 | 1,213,006 | 6,081 | |||||||||
ICICI Bank ADR | 0.7 | 165,354 | 7,094 | |||||||||
Reliance Industries GDR | 0.6 | 197,611 | 5,628 | |||||||||
Other Securities | 4.3 | 41,288 | ||||||||||
|
| |||||||||||
60,091 | ||||||||||||
|
| |||||||||||
Indonesia — 2.8% | ||||||||||||
Bank Rakyat Indonesia Persero | 0.6 | 5,938,951 | 5,348 |
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 5 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
Emerging Markets Equity Fund (Continued)
March 31, 2013
Description | Percentage of Net Assets (%) | Shares | Market Value ($ Thousands) | |||||||||
Perusahaan Gas Negara Persero | 0.0 | % | 375,000 | $ | 230 | |||||||
Semen Indonesia Persero | 0.2 | 1,267,700 | 2,309 | |||||||||
Telekomunikasi Indonesia | 0.4 | 3,715,116 | 4,205 | |||||||||
Other Securities | 1.6 | 14,480 | ||||||||||
|
| |||||||||||
26,572 | ||||||||||||
|
| |||||||||||
Ireland — 0.1% |
| |||||||||||
Other Securities | 0.1 | 965 | ||||||||||
|
| |||||||||||
Israel — 0.2% |
| |||||||||||
Other Securities | 0.2 | 1,882 | ||||||||||
|
| |||||||||||
Macau — 0.3% |
| |||||||||||
Other Securities | 0.3 | 2,852 | ||||||||||
|
| |||||||||||
Malaysia — 1.9% |
| |||||||||||
Other Securities | 1.9 | 17,888 | ||||||||||
|
| |||||||||||
Mexico — 5.9% |
| |||||||||||
Genomma Lab Internacional, Cl B* (A) | 0.8 | 3,043,958 | 7,443 | |||||||||
Grupo Financiero Banorte, Cl O | 0.7 | 799,651 | 6,387 | |||||||||
Grupo Televisa ADR | 0.7 | 245,897 | 6,543 | |||||||||
Other Securities | 3.7 | 36,541 | ||||||||||
|
| |||||||||||
56,914 | ||||||||||||
|
| |||||||||||
Netherlands — 0.5% |
| |||||||||||
Yandex, Cl A* | 0.5 | 223,600 | 5,170 | |||||||||
|
| |||||||||||
Peru — 0.6% |
| |||||||||||
Credicorp | 0.5 | 29,900 | 4,965 | |||||||||
Other Securities | 0.1 | 331 | ||||||||||
|
| |||||||||||
5,296 | ||||||||||||
|
| |||||||||||
Philippines — 1.1% |
| |||||||||||
Other Securities | 1.1 | 10,700 | ||||||||||
|
| |||||||||||
Poland — 0.6% |
| |||||||||||
Other Securities | 0.6 | 5,943 | ||||||||||
|
| |||||||||||
Russia — 7.0% |
| |||||||||||
Gazprom ADR | 0.5 | 586,850 | 4,988 | |||||||||
Gazprom Neft OAO ADR | 0.0 | 12,745 | 269 | |||||||||
Gazprom OAO | 0.1 | 86,531 | 740 | |||||||||
Lukoil ADR | 0.8 | 122,535 | 7,902 | |||||||||
Magnit GDR | 0.5 | 109,338 | 4,937 | |||||||||
Rosneft GDR | 0.1 | 75,453 | 576 | |||||||||
Rosneft Oil GDR | 0.4 | 525,145 | 4,007 | |||||||||
Sberbank of Russia ADR | 1.6 | 1,168,762 | 14,928 | |||||||||
VTB Bank GDR | 0.2 | 683,814 | 2,151 | |||||||||
Other Securities | 2.8 | 26,964 | ||||||||||
|
| |||||||||||
67,462 | ||||||||||||
|
|
Description | Percentage of Net Assets (%) | Shares | Market Value ($ Thousands) | |||||||||
Singapore — 0.0% |
| |||||||||||
Other Securities | 0.0 | % | $ | 420 | ||||||||
|
| |||||||||||
South Africa — 4.8% |
| |||||||||||
ABSA Group | 0.0 | 18,939 | 319 | |||||||||
MTN Group (A) | 0.5 | 278,024 | 4,875 | |||||||||
Naspers, Cl N | 0.4 | 65,867 | 4,097 | |||||||||
Standard Bank Group | 0.4 | 308,041 | 3,960 | |||||||||
Other Securities | 3.5 | 32,963 | ||||||||||
|
| |||||||||||
46,214 | ||||||||||||
|
| |||||||||||
South Korea — 12.2% |
| |||||||||||
Hyundai Motors* | 0.5 | 24,225 | 4,877 | |||||||||
KCC | 0.4 | 15,332 | 4,210 | |||||||||
Samsung Electronics | 4.1 | 28,788 | 39,510 | |||||||||
SK Telecom | 0.1 | 4,283 | 695 | |||||||||
SK Telecom ADR | 0.6 | 308,547 | 5,514 | |||||||||
Other Securities | 6.5 | 63,351 | ||||||||||
|
| |||||||||||
118,157 | ||||||||||||
|
| |||||||||||
Spain — 0.2% |
| |||||||||||
Other Securities | 0.2 | 1,861 | ||||||||||
|
| |||||||||||
Taiwan — 7.0% |
| |||||||||||
Hon Hai Precision Industry | 0.5 | 1,742,753 | 4,855 | |||||||||
Taiwan Semiconductor Manufacturing | 0.7 | 2,052,790 | 6,899 | |||||||||
Taiwan Semiconductor Manufacturing ADR | 0.6 | 329,881 | 5,671 | |||||||||
Other Securities | 5.2 | 50,604 | ||||||||||
|
| |||||||||||
68,029 | ||||||||||||
|
| |||||||||||
Thailand — 3.0% |
| |||||||||||
Other Securities | 3.0 | 28,638 | ||||||||||
|
| |||||||||||
Turkey — 2.8% |
| |||||||||||
Other Securities | 2.8 | 27,097 | ||||||||||
|
| |||||||||||
United Arab Emirates — 0.2% |
| |||||||||||
Other Securities | 0.2 | 1,938 | ||||||||||
|
| |||||||||||
United Kingdom — 1.3% |
| |||||||||||
Other Securities | 1.3 | 12,635 | ||||||||||
|
| |||||||||||
United States — 1.7% |
| |||||||||||
Yahoo!* | 0.5 | 199,000 | 4,683 | |||||||||
Other Securities | 1.2 | 12,037 | ||||||||||
|
| |||||||||||
16,720 | ||||||||||||
|
| |||||||||||
Total Common Stock |
| 867,162 | ||||||||||
|
|
6 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Description | Percentage of Net Assets (%) | Shares/ (Thousands) | Market Value ($ Thousands) | |||||||||
PREFERRED STOCK — 3.9% |
| |||||||||||
Brazil — 3.9% |
| |||||||||||
Cia Brasileira de Distribuicao Grupo Pao de Acucar, CI Preference | 0.0 | % | 5,300 | $ | 280 | |||||||
Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR | 0.4 | 80,170 | 4,272 | |||||||||
Cia de Bebidas das Americas | 0.1 | 19,900 | 830 | |||||||||
Cia de Bebidas das Americas ADR | 0.5 | 102,509 | 4,339 | |||||||||
Petroleo Brasileiro, Cl Preference | 0.2 | 225,416 | 2,046 | |||||||||
Petroleo Brasileiro ADR, Cl A | 0.6 | 337,805 | 6,131 | |||||||||
Vale, Cl A | 0.2 | 136,314 | 2,241 | |||||||||
Vale ADR, Cl B | 0.6 | 331,546 | 5,480 | |||||||||
Other Securities | 1.3 | 12,142 | ||||||||||
|
| |||||||||||
Total Preferred Stock |
| 37,761 | ||||||||||
|
| |||||||||||
EXCHANGE TRADED FUNDS — 3.4% |
| |||||||||||
Hong Kong — 0.1% |
| |||||||||||
Other Securities | 0.1 | 1,617 | ||||||||||
|
| |||||||||||
United States — 3.3% |
| |||||||||||
iPath MSCI India Index ETN | 0.2 | 31,292 | 1,789 | |||||||||
iShares MSCI Emerging Markets Index Fund | 2.3 | 524,590 | 22,442 | |||||||||
iShares MSCI Taiwan Index Fund | 0.8 | 556,244 | 7,420 | |||||||||
|
| |||||||||||
31,651 | ||||||||||||
|
| |||||||||||
Total Exchange Traded Funds |
| 33,268 | ||||||||||
|
| |||||||||||
DEBENTURE BOND — 0.0% |
| |||||||||||
Brazil — 0.0% |
| |||||||||||
Vale, Ser 1997 | 0.0 | 8 | — | |||||||||
|
| |||||||||||
Total Debenture Bond |
| — | ||||||||||
|
| |||||||||||
AFFILIATED PARTNERSHIP — 1.7% |
| |||||||||||
SEI Liquidity Fund, L.P. 0.120%†** (C) | 1.7 | % | 16,318,819 | 16,319 | ||||||||
|
| |||||||||||
Total Affiliated Partnership |
| 16,319 | ||||||||||
|
| |||||||||||
CASH EQUIVALENT — 0.9% |
| |||||||||||
SEI Daily Income Trust, Prime Obligation Fund, Cl A 0.020%†** | 0.9 | 8,621,860 | 8,622 | |||||||||
|
| |||||||||||
Total Cash Equivalent |
| 8,622 | ||||||||||
|
|
Description | Face Amount (1) (Thousands) | Market Value ($ Thousands) | ||||||||||||
TIME DEPOSITS — 1.5% |
| |||||||||||||
United States — 1.5% |
| |||||||||||||
Brown Brothers Harriman | ||||||||||||||
4.150%, 04/01/2013 | ZAR | 443 | $ | 48 | ||||||||||
0.650%, 04/01/2013 | NOK | — | — | |||||||||||
0.233%, 04/01/2013 | CAD | 22 | 22 | |||||||||||
0.071%, 04/01/2013 | GBP | — | — | |||||||||||
0.050%, 04/01/2013 | SEK | — | — | |||||||||||
0.030%, 04/01/2013 | 14,566 | 14,566 | ||||||||||||
0.010%, 04/01/2013 | SGD | 4 | 3 | |||||||||||
0.005%, 04/01/2013 | HKD | 351 | 45 | |||||||||||
(0.028)%, 04/01/2013 | EUR | 1 | 1 | |||||||||||
|
| |||||||||||||
Total Time Deposits |
| 14,685 | ||||||||||||
|
| |||||||||||||
Total Investments — 101.1% |
| $ | 977,817 | |||||||||||
|
|
Percentages are based on a Net Assets of $967,091 ($ Thousands).
* | Non-income producing security |
** | Rate shown is the 7-day effective yield as of March 31, 2013. |
† | Investment in Affiliated security (See Note 4). |
(1) | In U.S. Dollars unless otherwise indicated. |
(A) | This security or a partial position of this security is on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $15,189 ($ Thousands) (See Note 8). |
(B) | Variable Rate Security—The rate reported on the Summary Schedule of Investments is the rate in effect as of March 31, 2013. |
(C) | 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, 2013 was $16,319 ($ Thousands). |
†† | The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available (i) without charge, upon request, by calling (800) 342-5734; and (ii) on the SEC’s website at http://www.sec.gov. |
ADR — American Depositary Receipt
CAD — Canadian Dollar
Cl — Class
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
SEK — Swedish Krone
Ser — Series
SGD — Singapore Dollar
USD — U.S. Dollar
ZAR — South African Rand
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 7 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
Emerging Markets Equity Fund (Concluded)
March 31, 2013
The following is a summary of the inputs used as of March 31, 2013, in valuing the Fund’s investments carried at value ($ Thousands):
Investments in Securities | Level 1 | Level 2 | Level 3 (1) | Total | ||||||||||||
Common Stock | $ | 866,650 | $ | — | $ | 512 | $ | 867,162 | ||||||||
Preferred Stock | 37,761 | — | — | 37,761 | ||||||||||||
Exchange Traded Funds | 33,268 | — | — | 33,268 | ||||||||||||
Debenture Bond | — | — | — | — | ||||||||||||
Affiliated Partnership | — | 16,319 | — | 16,319 | ||||||||||||
Cash Equivalent | 8,622 | — | — | 8,622 | ||||||||||||
Time Deposits | — | 14,685 | — | 14,685 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | 946,301 | $ | 31,004 | $ | 512 | $ | 977,817 | ||||||||
|
|
|
|
|
|
|
|
(1) | A reconciliation of Level 3 instruments 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, 2013, there were transfers between Level 1 and Level 2 assets and liabilities. The primary reason for changes in the classifications between Level 1 and Level 2 occurs when foreign equity securities are fair valued using other observable market-based inputs in place of the closing exchange price due to events occurring after the close of the exchange or market on which the investment is principally traded (See Note 2).
For the six months ended March 31, 2013, there were no transfers between Level 2 and Level 3 assets and liabilities.
Amounts designated as “—” are $O or have been rounded to $O.
The accompanying notes are an integral part of the financial statements.
8 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||
GLOBAL BONDS — 93.0% | ||||||||||||||
Australia — 2.9% | ||||||||||||||
Government of Australia | ||||||||||||||
6.681%, 08/20/2015 | 0.0 | % | 100 | $ | 188 | |||||||||
6.000%, 02/15/2017 | 0.6 | 2,600 | 3,014 | |||||||||||
5.750%, 07/15/2022 | 0.2 | 700 | 865 | |||||||||||
5.500%, 01/21/2018 | 0.5 | 2,110 | 2,439 | |||||||||||
5.500%, 04/21/2023 | 0.0 | 160 | 196 | |||||||||||
4.250%, 07/21/2017 | 0.3 | 1,350 | 1,478 | |||||||||||
Government of Australia, Ser 124 | ||||||||||||||
5.750%, 05/15/2021 | 0.4 | 1,900 | 2,318 | |||||||||||
Government of Australia, Ser 25CI | ||||||||||||||
3.281%, 09/20/2025 | 0.0 | 150 | 215 | |||||||||||
Other Securities | 0.9 | 4,324 | ||||||||||||
|
| |||||||||||||
15,037 | ||||||||||||||
|
| |||||||||||||
Austria — 1.2% | ||||||||||||||
Republic of Austria | ||||||||||||||
3.900%, 07/15/2020 | 0.0 | 75 | 113 | |||||||||||
3.650%, 04/20/2022 | 0.1 | 290 | 436 | |||||||||||
3.200%, 02/20/2017 | 0.2 | 600 | 847 | |||||||||||
1.950%, 06/18/2019 | 0.8 | 3,020 | 4,081 | |||||||||||
Republic of Austria, Ser 97-6 | ||||||||||||||
6.250%, 07/15/2027 | 0.1 | 225 | 433 | |||||||||||
|
| |||||||||||||
5,910 | ||||||||||||||
|
| |||||||||||||
Belgium — 3.5% | ||||||||||||||
Kingdom of Belgium, Ser 44 | ||||||||||||||
5.000%, 03/28/2035 | 0.1 | 500 | 839 | |||||||||||
Kingdom of Belgium, Ser 47 | ||||||||||||||
3.250%, 09/28/2016 | 2.0 | 7,325 | 10,261 | |||||||||||
Kingdom of Belgium, Ser 49 | ||||||||||||||
4.000%, 03/28/2017 | 0.0 | 230 | 333 | |||||||||||
Kingdom of Belgium, Ser 58 | ||||||||||||||
3.750%, 09/28/2020 | 0.1 | 231 | 341 | |||||||||||
Kingdom of Belgium, Ser 65 | ||||||||||||||
4.250%, 09/28/2022 | 0.1 | 250 | 380 | |||||||||||
Kingdom of Belgium, Ser 67 | ||||||||||||||
3.000%, 09/28/2019 | 0.5 | 1,680 | 2,376 |
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Kingdom of Belgium, Ser 69 | ||||||||||||||||
1.250%, 06/22/2018 | 0.4 | % | 1,650 | $ | 2,134 | |||||||||||
Other Securities | 0.3 | 1,197 | ||||||||||||||
|
| |||||||||||||||
17,861 | ||||||||||||||||
|
| |||||||||||||||
Brazil — 0.4% | ||||||||||||||||
Cosan | ||||||||||||||||
5.000%, 03/14/2023 (A) | 0.0 | USD | 240 | 242 | ||||||||||||
Raisen Energy Finance | ||||||||||||||||
7.000%, 02/01/2017 (A) | 0.1 | USD | 270 | 307 | ||||||||||||
Other Securities | 0.3 | 1,612 | ||||||||||||||
|
| |||||||||||||||
2,161 | ||||||||||||||||
|
| |||||||||||||||
Canada — 4.9% |
| |||||||||||||||
Government of Canada | ||||||||||||||||
5.750%, 06/01/2033 | 0.4 | 1,300 | 1,952 | |||||||||||||
5.000%, 06/01/2037 | 0.4 | 1,300 | 1,852 | |||||||||||||
4.250%, 06/01/2018 | 0.2 | 715 | 806 | |||||||||||||
4.000%, 06/01/2041 | 0.1 | 280 | 359 | |||||||||||||
3.500%, 06/01/2020 | 0.5 | 2,395 | 2,664 | |||||||||||||
3.500%, 06/01/2020 | 0.1 | 710 | 790 | |||||||||||||
2.750%, 06/01/2022 | 0.2 | 800 | 853 | |||||||||||||
2.250%, 08/01/2014 | 0.4 | 2,000 | 2,000 | |||||||||||||
1.500%, 03/01/2017 | 0.3 | 1,500 | 1,491 | |||||||||||||
1.500%, 09/01/2017 | 0.4 | 1,835 | 1,823 | |||||||||||||
Other Securities | 1.9 | 10,545 | ||||||||||||||
|
| |||||||||||||||
25,135 | ||||||||||||||||
|
| |||||||||||||||
China — 0.1% |
| |||||||||||||||
Baidu | ||||||||||||||||
2.250%, 11/28/2017 | 0.0 | USD | 200 | 202 | ||||||||||||
Other Securities | 0.1 | 340 | ||||||||||||||
|
| |||||||||||||||
542 | ||||||||||||||||
|
| |||||||||||||||
Colombia — 0.0% |
| |||||||||||||||
Other Securities | 0.0 | 124 | ||||||||||||||
|
| |||||||||||||||
Czech Republic — 0.2% |
| |||||||||||||||
Other Securities | 0.2 | 1,205 | ||||||||||||||
|
| |||||||||||||||
Denmark — 1.7% |
| |||||||||||||||
DONG Energy MTN | ||||||||||||||||
5.750%, 04/09/2040 | 0.1 | GBP | 200 | 358 | ||||||||||||
Kingdom of Denmark | ||||||||||||||||
4.500%, 11/15/2039 | 0.1 | 1,300 | 333 | |||||||||||||
4.000%, 11/15/2017 | 0.4 | 8,915 | 1,791 | |||||||||||||
3.125%, 03/17/2014 | 0.1 | EUR | 500 | 659 | ||||||||||||
3.000%, 11/15/2021 | 0.9 | 21,800 | 4,341 | |||||||||||||
Other Securities | 0.1 | 1,110 | ||||||||||||||
|
| |||||||||||||||
8,592 | ||||||||||||||||
|
| |||||||||||||||
Finland — 1.0% |
| |||||||||||||||
Government of Finland | ||||||||||||||||
4.375%, 07/04/2019 | 0.1 | 400 | 620 | |||||||||||||
3.375%, 04/15/2020 | 0.6 | 2,080 | 3,075 |
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 9 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
International Fixed Income Fund (Continued)
March 31, 2013
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Other Securities | 0.3 | % | $ | 1,330 | ||||||||||||
|
| |||||||||||||||
5,025 | ||||||||||||||||
|
| |||||||||||||||
France — 5.2% |
| |||||||||||||||
Caisse Francaise de Financement Local MTN | ||||||||||||||||
4.500%, 04/27/2015 | 0.1 | 380 | 525 | |||||||||||||
3.750%, 05/18/2016 | 0.1 | 225 | 314 | |||||||||||||
Electricite de France MTN | ||||||||||||||||
6.500%, 01/26/2019 (A) | 0.1 | USD | 250 | 305 | ||||||||||||
5.500%, 10/17/2041 | 0.0 | GBP | 100 | 166 | ||||||||||||
5.375%, 12/12/2049 (B) | 0.0 | 100 | 130 | |||||||||||||
5.250%, 12/29/2049 (B) | 0.0 | 120 | 118 | |||||||||||||
4.125%, 03/25/2027 | 0.0 | 100 | 144 | |||||||||||||
4.000%, 11/12/2025 | 0.0 | 150 | 216 | |||||||||||||
French Treasury Note | ||||||||||||||||
2.500%, 01/15/2015 | 0.1 | 395 | 527 | |||||||||||||
1.000%, 07/25/2017 | 0.1 | 235 | 305 | |||||||||||||
0.750%, 09/25/2014 | 0.1 | 400 | 518 | |||||||||||||
Government of France | ||||||||||||||||
5.000%, 10/25/2016 | 0.5 | 1,760 | 2,613 | |||||||||||||
4.750%, 04/25/2035 | 0.0 | 60 | 99 | |||||||||||||
4.500%, 04/25/2041 | 0.3 | 1,060 | 1,700 | |||||||||||||
3.250%, 05/25/2045 | 0.1 | 440 | 568 | |||||||||||||
3.000%, 10/25/2015 | 1.0 | 3,850 | 5,279 | |||||||||||||
3.000%, 04/25/2022 | 0.2 | 555 | 776 | |||||||||||||
1.000%, 05/25/2018 | 0.4 | 1,760 | 2,267 | |||||||||||||
Other Securities | 2.1 | 9,988 | ||||||||||||||
|
| |||||||||||||||
26,558 | ||||||||||||||||
|
| |||||||||||||||
Germany — 15.0% |
| |||||||||||||||
Bilfinger | ||||||||||||||||
2.375%, 12/07/2019 | 0.0 | 100 | 133 | |||||||||||||
Bundesobligation | ||||||||||||||||
0.500%, 10/13/2017 | 0.2 | 800 | 1,038 | |||||||||||||
0.500%, 02/23/2018 | 0.2 | 960 | 1,241 | |||||||||||||
Bundesobligation Inflation Linked Bond | ||||||||||||||||
2.250%, 04/15/2013 | 0.8 | 3,122 | 4,008 | |||||||||||||
Bundesrepublik Deutschland | ||||||||||||||||
2.500%, 07/04/2044 | 0.0 | 180 | 245 | |||||||||||||
2.250%, 09/04/2020 | 0.1 | 270 | 383 | |||||||||||||
2.000%, 01/04/2022 | 0.4 | 1,645 | 2,271 | |||||||||||||
1.500%, 09/04/2022 | 3.4 | 13,250 | 17,407 | |||||||||||||
1.500%, 02/15/2023 | 0.1 | 500 | 654 | |||||||||||||
Bundesrepublik Deutschland, Ser 00 | ||||||||||||||||
5.500%, 01/04/2031 | 0.1 | 340 | 661 | |||||||||||||
Bundesrepublik Deutschland, Ser 03 | ||||||||||||||||
4.750%, 07/04/2034 | 0.4 | 1,120 | 2,083 |
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Bundesrepublik Deutschland, Ser 04 | ||||||||||||||||
3.750%, 01/04/2015 | 0.1 | % | 200 | $ | 273 | |||||||||||
Bundesrepublik Deutschland, Ser 07 | ||||||||||||||||
4.250%, 07/04/2039 | 0.4 | 1,075 | 1,950 | |||||||||||||
Bundesrepublik Deutschland, Ser 08 | ||||||||||||||||
4.750%, 07/04/2040 | 0.0 | 25 | 49 | |||||||||||||
Bundesschatzanweisungen | ||||||||||||||||
1.750%, 06/14/2013 | 4.2 | 16,450 | 21,156 | |||||||||||||
0.250%, 03/13/2015 | 1.3 | 5,300 | 6,830 | |||||||||||||
Deutschland Inflation Linked Bond | ||||||||||||||||
0.100%, 04/15/2023 | 0.3 | 966 | 1,319 | |||||||||||||
KFW | ||||||||||||||||
4.750%, 08/12/2015 | 0.2 | SEK | 6,000 | 989 | ||||||||||||
4.375%, 07/04/2018 | 0.3 | 915 | 1,388 | |||||||||||||
4.375%, 10/11/2013 | 0.3 | 1,050 | 1,376 | |||||||||||||
3.875%, 01/21/2019 | 0.2 | 575 | 859 | |||||||||||||
3.375%, 08/30/2017 | 0.1 | CHF | 370 | 443 | ||||||||||||
0.875%, 11/15/2013 | 0.4 | 1,625 | 2,093 | |||||||||||||
Other Securities | 1.5 | 7,542 | ||||||||||||||
|
| |||||||||||||||
76,391 | ||||||||||||||||
|
| |||||||||||||||
Indonesia — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 388 | ||||||||||||||
|
| |||||||||||||||
Ireland — 0.4% |
| |||||||||||||||
Other Securities | 0.4 | 1,945 | ||||||||||||||
|
| |||||||||||||||
Italy — 5.2% |
| |||||||||||||||
Edison MTN | ||||||||||||||||
3.875%, 11/10/2017 | 0.2 | 600 | 845 | |||||||||||||
Italy Buoni Poliennali Del Tesoro | ||||||||||||||||
6.500%, 11/01/2027 | 0.1 | 500 | 733 | |||||||||||||
6.000%, 05/01/2031 | 0.1 | 500 | 704 | |||||||||||||
5.500%, 11/01/2022 | 0.0 | 150 | 204 | |||||||||||||
5.000%, 03/01/2022 | 0.4 | 1,500 | 1,995 | |||||||||||||
5.000%, 09/01/2040 | 0.4 | 1,755 | 2,188 | |||||||||||||
4.750%, 05/01/2017 | 1.0 | 3,740 | 5,037 | |||||||||||||
4.750%, 09/01/2021 | 1.1 | 4,215 | 5,569 | |||||||||||||
4.500%, 03/01/2019 | 0.1 | 400 | 529 | |||||||||||||
4.250%, 02/01/2015 | 0.6 | 2,325 | 3,096 | |||||||||||||
3.500%, 06/01/2014 | 0.3 | 1,150 | 1,505 | |||||||||||||
3.500%, 11/01/2017 | 0.1 | 460 | 591 | |||||||||||||
Italy Buoni Poliennali Del Tesoro Inflation Linked Bond | ||||||||||||||||
2.100%, 09/15/2016 | 0.2 | 736 | 957 | |||||||||||||
Other Securities | 0.6 | 2,664 | ||||||||||||||
|
| |||||||||||||||
26,617 | ||||||||||||||||
|
|
10 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||
Japan — 19.3% | ||||||||||||||
Government of Japan 5 Year Bond, Ser 95 | ||||||||||||||
0.600%, 03/20/2016 | 0.8 | % | 398,950 | $ | 4,301 | |||||||||
Government of Japan 5 Year Bond, Ser 108 | ||||||||||||||
0.100%, 12/20/2017 | 0.7 | 315,000 | 3,340 | |||||||||||
Government of Japan 10 Year Bond, Ser 275 | ||||||||||||||
1.400%, 12/20/2015 | 1.4 | 626,600 | 6,892 | |||||||||||
Government of Japan 10 Year Bond, Ser 288 | ||||||||||||||
1.700%, 09/20/2017 | 0.7 | 330,000 | 3,750 | |||||||||||
Government of Japan 10 Year Bond, Ser 298 | ||||||||||||||
1.300%, 12/20/2018 | 0.8 | 374,100 | 4,223 | |||||||||||
Government of Japan 10 Year Bond, Ser 301 | ||||||||||||||
1.500%, 06/20/2019 | 0.5 | 235,300 | 2,695 | |||||||||||
Government of Japan 10 Year Bond, Ser 303 | ||||||||||||||
1.400%, 09/20/2019 | 1.7 | 774,500 | 8,832 | |||||||||||
Government of Japan 10 Year Bond, Ser 308 | ||||||||||||||
1.300%, 06/20/2020 | 2.5 | 1,096,000 | 12,454 | |||||||||||
Government of Japan 10 Year Bond, Ser 313 | ||||||||||||||
1.300%, 03/20/2021 | 1.7 | 750,000 | 8,514 | |||||||||||
Government of Japan 10 Year Bond, Ser 316 | ||||||||||||||
1.100%, 06/20/2021 | 0.5 | 240,550 | 2,690 | |||||||||||
Government of Japan 10 Year Bond, Ser 318 | ||||||||||||||
1.000%, 09/20/2021 | 0.2 | 95,000 | 1,054 | |||||||||||
Government of Japan 10 Year Bond, Ser 327 | ||||||||||||||
0.800%, 12/20/2022 | 0.3 | 140,000 | 1,522 | |||||||||||
Government of Japan 20 Year Bond, Ser 48 | ||||||||||||||
2.500%, 12/21/2020 | 1.5 | 629,450 | 7,758 | |||||||||||
Government of Japan 20 Year Bond, Ser 55 | ||||||||||||||
2.000%, 03/21/2022 | 0.6 | 257,000 | 3,087 | |||||||||||
Government of Japan 20 Year Bond, Ser 99 | ||||||||||||||
2.100%, 12/20/2027 | 1.3 | 538,250 | 6,564 | |||||||||||
Government of Japan 20 Year Bond, Ser 106 | ||||||||||||||
2.200%, 09/20/2028 | 0.2 | 67,150 | 827 | |||||||||||
Government of Japan 20 Year Bond, Ser 112 | ||||||||||||||
2.100%, 06/20/2029 | 1.0 | 420,000 | 5,100 |
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Government of Japan 20 Year Bond, Ser 128 | ||||||||||||||||
1.900%, 06/20/2031 | 0.1 | % | 55,000 | $ | 643 | |||||||||||
Government of Japan 20 Year Bond, Ser 140 | ||||||||||||||||
1.700%, 09/20/2032 | 0.1 | 34,850 | 391 | |||||||||||||
Government of Japan 20 Year Bond, Ser 143 | ||||||||||||||||
1.600%, 03/20/2033 | 0.9 | 426,450 | 4,679 | |||||||||||||
Government of Japan 30 Year Bond, Ser 29 | ||||||||||||||||
2.400%, 09/20/2038 | 0.3 | 103,250 | 1,307 | |||||||||||||
Government of Japan 30 Year Bond, Ser 30 | ||||||||||||||||
2.300%, 03/20/2039 | 0.8 | 323,000 | 4,019 | |||||||||||||
Government of Japan 30 Year Bond, Ser 33 | ||||||||||||||||
2.000%, 09/20/2040 | 0.4 | 167,000 | 1,964 | |||||||||||||
Government of Japan 30 Year Bond, Ser 34 | ||||||||||||||||
2.200%, 03/20/2041 | 0.1 | 30,000 | 367 | |||||||||||||
Government of Japan 30 Year Bond, Ser 36 | ||||||||||||||||
2.000%, 03/20/2042 | 0.0 | 10,000 | 117 | |||||||||||||
Government of Japan 30 Year Bond, Ser 37 | ||||||||||||||||
1.900%, 09/20/2042 | 0.1 | 40,400 | 463 | |||||||||||||
Other Securities | 0.1 | 746 | ||||||||||||||
|
| |||||||||||||||
98,299 | ||||||||||||||||
|
| |||||||||||||||
Jersey — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 433 | ||||||||||||||
|
| |||||||||||||||
Malaysia — 0.2% |
| |||||||||||||||
Other Securities | 0.2 | 950 | ||||||||||||||
|
| |||||||||||||||
Mexico — 1.1% |
| |||||||||||||||
Mexican Bonos | ||||||||||||||||
9.000%, 06/20/2013 | 0.5 | 29,500 | 2,412 | |||||||||||||
Mexican Bonos, Ser M10 | ||||||||||||||||
7.750%, 12/14/2017 | 0.5 | 27,639 | 2,528 | |||||||||||||
Other Securities | 0.1 | 622 | ||||||||||||||
|
| |||||||||||||||
5,562 | ||||||||||||||||
|
| |||||||||||||||
Netherlands — 5.1% |
| |||||||||||||||
ABN Amro Bank MTN | ||||||||||||||||
4.875%, 01/16/2019 | 0.1 | GBP | 200 | 343 | ||||||||||||
3.750%, 07/15/2014 | 0.2 | 750 | 1,002 | |||||||||||||
Kingdom of Netherlands | ||||||||||||||||
4.500%, 07/15/2017 | 0.1 | 500 | 746 | |||||||||||||
4.250%, 07/15/2013 | 2.1 | 8,200 | 10,634 | |||||||||||||
4.000%, 07/15/2018 | 0.1 | 185 | 276 | |||||||||||||
4.000%, 01/15/2037 | 0.1 | 300 | 495 |
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 11 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
International Fixed Income Fund (Continued)
March 31, 2013
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||
3.500%, 07/15/2020 | 0.1 | % | 485 | $ | 721 | |||||||||
2.250%, 07/15/2022 | 1.1 | 3,955 | 5,363 | |||||||||||
1.750%, 07/15/2023 | 0.4 | 1,410 | 1,804 | |||||||||||
1.250%, 01/15/2018 | 0.3 | 1,300 | 1,707 | |||||||||||
Other Securities | 0.5 | 3,046 | ||||||||||||
|
| |||||||||||||
26,137 | ||||||||||||||
|
| |||||||||||||
New Zealand — 0.1% | ||||||||||||||
Other Securities | 0.1 | 313 | ||||||||||||
|
| |||||||||||||
Norway — 0.9% | ||||||||||||||
Other Securities | 0.9 | 4,466 | ||||||||||||
|
| |||||||||||||
Peru — 0.1% | ||||||||||||||
Other Securities | 0.1 | 778 | ||||||||||||
|
| |||||||||||||
Poland — 0.2% | ||||||||||||||
Other Securities | 0.2 | 1,213 | ||||||||||||
|
| |||||||||||||
Portugal — 0.1% | ||||||||||||||
Other Securities | 0.1 | 548 | ||||||||||||
|
| |||||||||||||
Qatar — 0.1% | ||||||||||||||
Other Securities | 0.1 | 437 | ||||||||||||
|
| |||||||||||||
Russia — 0.4% | ||||||||||||||
Other Securities | 0.4 | 1,810 | ||||||||||||
|
| |||||||||||||
Singapore — 0.3% | ||||||||||||||
Other Securities | 0.3 | 1,570 | ||||||||||||
|
| |||||||||||||
South Africa — 0.1% | ||||||||||||||
Other Securities | 0.1 | 918 | ||||||||||||
|
| |||||||||||||
South Korea — 0.5% | ||||||||||||||
Other Securities | 0.5 | 2,474 | ||||||||||||
|
| |||||||||||||
Spain — 2.2% | ||||||||||||||
Banco Santander | ||||||||||||||
4.625%, 01/20/2016 | 0.1 | 300 | 408 | |||||||||||
Government of Spain | ||||||||||||||
5.850%, 01/31/2022 | 0.0 | 110 | 150 | |||||||||||
5.500%, 04/30/2021 | 0.5 | 1,720 | 2,318 | |||||||||||
4.850%, 10/31/2020 | 0.2 | 740 | 961 | |||||||||||
4.750%, 07/30/2014 | 0.3 | 925 | 1,229 | |||||||||||
4.700%, 07/30/2041 | 0.2 | 995 | 1,103 | |||||||||||
4.500%, 01/31/2018 | 0.2 | 750 | 989 | |||||||||||
4.200%, 01/31/2037 | 0.0 | 190 | 198 | |||||||||||
4.000%, 04/30/2020 | 0.0 | 100 | 125 | |||||||||||
3.300%, 10/31/2014 | 0.1 | 475 | 619 | |||||||||||
Santander International Debt SAU MTN | ||||||||||||||
4.625%, 03/21/2016 | 0.2 | 700 | 920 | |||||||||||
Other Securities | 0.4 | 2,494 | ||||||||||||
|
| |||||||||||||
11,514 | ||||||||||||||
|
|
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Supra-National — 0.3% |
| |||||||||||||||
Other Securities | 0.3 | % | $ | 1,393 | ||||||||||||
|
| |||||||||||||||
Sweden — 1.2% |
| |||||||||||||||
Other Securities | 1.2 | 5,940 | ||||||||||||||
|
| |||||||||||||||
Switzerland — 0.9% |
| |||||||||||||||
Other Securities | 0.9 | 4,753 | ||||||||||||||
|
| |||||||||||||||
Thailand — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 554 | ||||||||||||||
|
| |||||||||||||||
Turkey — 0.5% |
| |||||||||||||||
Other Securities | 0.5 | 2,400 | ||||||||||||||
|
| |||||||||||||||
United Arab Emirates — 0.2% |
| |||||||||||||||
Other Securities | 0.2 | 789 | ||||||||||||||
|
| |||||||||||||||
United Kingdom — 11.6% |
| |||||||||||||||
Abbey National Treasury Services MTN | ||||||||||||||||
5.500%, 06/18/2014 | 0.2 | 775 | 1,231 | |||||||||||||
5.250%, 02/16/2029 | 0.2 | 450 | 832 | |||||||||||||
5.125%, 04/14/2021 | 0.1 | 300 | 543 | |||||||||||||
4.250%, 04/12/2021 | 0.1 | EUR | 350 | 533 | ||||||||||||
3.625%, 09/08/2016 | 0.1 | EUR | 300 | 420 | ||||||||||||
3.375%, 06/08/2015 | 0.1 | EUR | 500 | 678 | ||||||||||||
Direct Line Insurance Group | ||||||||||||||||
9.250%, 04/27/2042 (B) | 0.0 | 100 | 186 | |||||||||||||
Eastern Power Networks MTN | ||||||||||||||||
6.250%, 11/12/2036 | 0.1 | 160 | 305 | |||||||||||||
First Group PLC | ||||||||||||||||
5.250%, 11/29/2022 | 0.1 | 450 | 717 | |||||||||||||
Royal Bank of Scotland | ||||||||||||||||
5.750%, 05/21/2014 | 0.2 | EUR | 600 | 811 | ||||||||||||
5.125%, 01/13/2024 | 0.1 | 400 | 739 | |||||||||||||
United Kingdom Gilt | ||||||||||||||||
6.000%, 12/07/2028 | 0.2 | 400 | 893 | |||||||||||||
4.500%, 12/07/2042 | 0.8 | 2,215 | 4,270 | |||||||||||||
4.250%, 06/07/2032 | 0.1 | 265 | 493 | |||||||||||||
4.250%, 12/07/2049 | 0.0 | 25 | 46 | |||||||||||||
4.250%, 12/07/2055 | 0.1 | 175 | 329 | |||||||||||||
1.750%, 09/07/2022 | 0.2 | 750 | 1,139 | |||||||||||||
1.000%, 09/07/2017 | 0.6 | 1,945 | 3,002 | |||||||||||||
United Kingdom Treasury | ||||||||||||||||
4.750%, 09/07/2015 | 0.3 | 750 | 1,265 | |||||||||||||
4.750%, 12/07/2030 | 0.5 | 1,240 | 2,444 | |||||||||||||
4.750%, 12/07/2038 | 0.4 | 956 | 1,903 | |||||||||||||
4.250%, 03/07/2036 | 0.2 | 550 | 1,016 | |||||||||||||
4.250%, 09/07/2039 | 0.3 | 885 | 1,633 | |||||||||||||
4.250%, 12/07/2046 | 0.1 | 385 | 714 | |||||||||||||
4.000%, 03/07/2022 | 0.1 | 135 | 246 | |||||||||||||
2.000%, 01/22/2016 | 0.2 | 533 | 848 | |||||||||||||
1.750%, 01/22/2017 | 0.5 | 1,670 | 2,661 |
12 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
United Kingdom Treasury, | ||||||||||||||||
5.000%, 09/07/2014 | 0.2 | % | 550 | $ | 893 | |||||||||||
Voyage Care Bondco | ||||||||||||||||
6.500%, 08/01/2018 | 0.0 | 150 | 232 | |||||||||||||
Other Securities | 5.5 | 27,937 | ||||||||||||||
|
| |||||||||||||||
58,959 | ||||||||||||||||
|
| |||||||||||||||
United States — 5.6% |
| |||||||||||||||
Bank of America MTN | ||||||||||||||||
5.650%, 05/01/2018 | 0.1 | 350 | 405 | |||||||||||||
Bank of America, Ser E MTN | ||||||||||||||||
5.125%, 09/26/2014 | 0.5 | EUR | 1,700 | 2,311 | ||||||||||||
Other Securities | 5.0 | 25,592 | ||||||||||||||
|
| |||||||||||||||
28,308 | ||||||||||||||||
|
| |||||||||||||||
Total Global Bonds |
| 474,009 | ||||||||||||||
|
| |||||||||||||||
MORTGAGE-BACKED SECURITIES — 2.3% |
| |||||||||||||||
Agency Mortgage-Backed Obligation — 0.0% |
| |||||||||||||||
Other Securities | 0.0 | 15 | ||||||||||||||
|
| |||||||||||||||
Non-Agency Mortgage-Backed Obligation — 2.3% |
| |||||||||||||||
Fosse Master Issuer, | ||||||||||||||||
1.932%, 10/18/2054 (B) | 0.1 | 255 | 392 | |||||||||||||
Other Securities | 2.2 | 11,418 | ||||||||||||||
|
| |||||||||||||||
11,810 | ||||||||||||||||
|
| |||||||||||||||
Total Mortgage-Backed Securities |
| 11,825 | ||||||||||||||
|
| |||||||||||||||
CORPORATE OBLIGATIONS — 1.6% |
| |||||||||||||||
United States — 1.6% |
| |||||||||||||||
Other Securities | 1.6 | 8,085 | ||||||||||||||
|
| |||||||||||||||
Total Corporate Obligations |
| 8,085 | ||||||||||||||
|
| |||||||||||||||
U.S. TREASURY OBLIGATIONS — 0.5% |
| |||||||||||||||
Other Securities | 0.5 | 2,450 | ||||||||||||||
|
| |||||||||||||||
Total U.S. Treasury Obligations |
| 2,450 | ||||||||||||||
|
| |||||||||||||||
ASSET-BACKED SECURITY — 0.1% |
| |||||||||||||||
Automotive — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 481 | ||||||||||||||
|
| |||||||||||||||
Total Asset-Backed Security |
| 481 | ||||||||||||||
|
|
Description | Face Amount (1) (Thousands) | Market Value ($ Thousands) | ||||||||||||
TIME DEPOSITS — 2.0% |
| |||||||||||||
United States — 2.0% |
| |||||||||||||
Brown Brothers Harriman | ||||||||||||||
4.150%, 04/01/2013 | ZAR | — | $ | — | ||||||||||
2.070%, 04/01/2013 | AUD | 20 | 21 | |||||||||||
1.450%, 04/01/2013 | NZD | 22 | 18 | |||||||||||
0.650%, 04/01/2013 | NOK | 346 | 59 | |||||||||||
0.233%, 04/01/2013 | CAD | 24 | 24 | |||||||||||
0.071%, 04/01/2013 | GBP | 68 | 103 | |||||||||||
0.050%, 04/01/2013 | SEK | 107 | 16 | |||||||||||
0.030%, 04/01/2013 | 8,353 | 8,353 | ||||||||||||
0.010%, 04/01/2013 | SGD | 21 | 17 | |||||||||||
0.005%, 04/01/2013 | JPY | 9,511 | 101 | |||||||||||
0.005%, 04/01/2013 | HKD | 2 | — | |||||||||||
0.001%, 04/01/2013 | CHF | — | — | |||||||||||
(0.028)%, 04/01/2013 | EUR | 1,077 | 1,380 | |||||||||||
(0.150)%, 04/01/2013 | DKK | 1 | — | |||||||||||
|
| |||||||||||||
Total Time Deposits |
| 10,092 | ||||||||||||
|
| |||||||||||||
Total Investments — 99.5% |
| $ | 506,942 | |||||||||||
|
|
A list of the open futures contracts held by the Fund at March 31, 2013, is as follows:
Type of Contract | Number of Contracts Long (Short) | Expiration Date | Unrealized Appreciation (Depreciation) ($ Thousands) | |||||||||
10-YR MINI JGB | 2 | Jun-2013 | $ | — | ||||||||
Australian 10-Year Bond | 17 | Jun-2013 | 26 | |||||||||
Australian 3-Year Bond | (7 | ) | Jun-2013 | (3 | ) | |||||||
Canadian 10-Year Bond | 3 | Jun-2013 | 3 | |||||||||
Euro-Bobl | 60 | Jun-2013 | 62 | |||||||||
Euro-BTP | (1 | ) | Jun-2013 | (1 | ) | |||||||
Euro-Bund | 33 | Jun-2013 | 51 | |||||||||
Euro-Buxl 30 Year Bond | (1 | ) | Jun-2013 | (2 | ) | |||||||
FIN FUT EUR | 8 | Jun-2013 | 13 | |||||||||
Japanese 10-Year Bond | 4 | Jun-2013 | 22 | |||||||||
Long Gilt 10-Year Bond | (34 | ) | Jun-2013 | (119 | ) | |||||||
U.S. 10-Year Treasury Note | (52 | ) | Jun-2013 | (57 | ) | |||||||
U.S. 2-Year Treasury Note | (59 | ) | Jun-2013 | (2 | ) | |||||||
U.S. 5-Year Treasury Note | (114 | ) | Jun-2013 | (18 | ) | |||||||
U.S. Long Treasury Bond | 20 | Jun-2013 | 3 | |||||||||
U.S. Long Treasury Bond | (7 | ) | Jun-2013 | (14 | ) | |||||||
U.S. Ultra Long Treasury Bond | (4 | ) | Jun-2013 | — | ||||||||
|
| |||||||||||
$ | (36 | ) | ||||||||||
|
|
For the six months ended March 31, 2013, 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 period.
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 13 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
International Fixed Income Fund (Concluded)
March 31, 2013
A list of the open forward foreign currency contracts held by the Fund at March 31, 2013, is as follows:
Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) ($ Thousands) | |||||||||||||||||
04/03/2013-04/30/2013 | AUD | 12,806 | USD | 13,158 | $ | (151 | ) | |||||||||||||
04/03/2013-04/30/2013 | CAD | 26,056 | USD | 25,385 | (255 | ) | ||||||||||||||
04/03/2013-04/30/2013 | DKK | 36,195 | USD | 6,337 | 114 | |||||||||||||||
04/03/2013-04/30/2013 | GBP | 42,450 | USD | 64,296 | (194 | ) | ||||||||||||||
04/03/2013-04/30/2013 | SEK | 39,384 | USD | 6,106 | 63 | |||||||||||||||
04/03/2013-05/02/2013 | EUR | 177,254 | USD | 230,939 | 3,738 | |||||||||||||||
04/03/2013-05/03/2013 | JPY | 9,414,763 | USD | 100,378 | 358 | |||||||||||||||
04/03/2013-05/03/2013 | USD | 4,763 | EUR | 3,702 | (18 | ) | ||||||||||||||
04/08/2013-04/30/2013 | MYR | 1,446 | USD | 463 | (3 | ) | ||||||||||||||
04/10/2013 | PEI | 2,023 | USD | 782 | 1 | |||||||||||||||
04/11/2013-04/30/2013 | USD | 1,766 | GBP | 1,168 | 8 | |||||||||||||||
04/12/2013-04/30/2013 | USD | 3,886 | MXN | 49,658 | 129 | |||||||||||||||
04/12/2013-05/02/2013 | USD | 1,929 | JPY | 184,240 | 29 | |||||||||||||||
04/12/2013-06/20/2013 | MXN | 46,746 | USD | 3,634 | (131 | ) | ||||||||||||||
04/19/2013 | TRY | 2,899 | USD | 1,601 | 2 | |||||||||||||||
04/26/2013 | NZD | 353 | USD | 292 | (3 | ) | ||||||||||||||
04/26/2013 | USD | 730 | SGD | 911 | 5 | |||||||||||||||
04/26/2013-04/30/2013 | CZK | 23,835 | USD | 1,202 | 15 | |||||||||||||||
04/30/2013 | CHF | 1,625 | USD | 1,721 | 9 | |||||||||||||||
04/30/2013 | KRW | 2,756,744 | USD | 2,472 | (5 | ) | ||||||||||||||
04/30/2013 | NOK | 2,937 | USD | 502 | (1 | ) | ||||||||||||||
04/30/2013 | PLN | 2,145 | USD | 664 | 6 | |||||||||||||||
04/30/2013 | SGD | 1,399 | USD | 1,118 | (11 | ) | ||||||||||||||
04/30/2013 | THB | 16,305 | USD | 559 | 3 | |||||||||||||||
04/30/2013 | USD | 290 | NOK | 1,690 | (1 | ) | ||||||||||||||
04/30/2013 | USD | 659 | SEK | 4,280 | (3 | ) | ||||||||||||||
04/30/2013 | ZAR | 8,782 | USD | 939 | (14 | ) | ||||||||||||||
|
| |||||||||||||||||||
$ | 3,690 | |||||||||||||||||||
|
|
A list of the counterparties for the open forward foreign currency contracts held by the Fund at March 31, 2013, is as follows:
Counterparty | Settlement Date | Currency to Deliver ($ Thousands) | Currency to Receive ($ Thousands) | Unrealized Appreciation (Depreciation) ($ Thousands) | ||||||||
Bank of America | 04/03/2013-04/30/2013 | (3,648) | 3,663 | $ | 15 | |||||||
Banyan Securities | 04/03/2013-04/11/2013 | (123,094) | 125,069 | 1,975 | ||||||||
Barclays PLC | 04/03/2013-04/30/2013 | (10,649) | 10,586 | (63 | ) | |||||||
BMO Nesbitt Burns | 04/03/2013-04/10/2013 | (30,704) | 31,327 | 623 | ||||||||
BNP Paribas | 04/10/2013-04/30/2013 | (9,474) | 9,547 | 73 | ||||||||
Brown Brothers Harriman | 04/03/2013-05/03/2013 | (3,476) | 3,514 | 38 | ||||||||
Citigroup | 04/26/2013-04/30/2013 | (3,854) | 3,859 | 5 | ||||||||
Credit Suisse First Boston | 04/11/2013-04/30/2013 | (3,849) | 3,837 | (12 | ) | |||||||
Deutsche Bank | 04/30/2013 | (3,321) | 3,329 | 8 | ||||||||
Goldis Financial Group | 04/18/2013 | (1,853) | 1,890 | 37 | ||||||||
Goldman Sachs | 04/12/2013-04/30/2013 | (5,248) | 5,230 | (18 | ) | |||||||
HSBC | 04/11/2013-04/12/2013 | (1,924) | 1,928 | 4 | ||||||||
JPMorgan Chase Bank | 04/11/2013-04/30/2013 | (79,413) | 79,798 | 385 | ||||||||
National Alliance Capital | 04/03/2013-04/30/2013 | (43,792) | 43,295 | (497 | ) | |||||||
Raymond James & Associates | 04/30/2013 | (1,530) | 1,526 | (4 | ) | |||||||
Royal Bank of Canada | 04/11/2013 | (358) | 357 | (1 | ) | |||||||
Royal Bank of Scotland | 04/11/2013-06/20/2013 | (16,892) | �� | 16,652 | (240 | ) | ||||||
Societe Generale | 04/03/2013 | (1,148) | 1,145 | (3 | ) | |||||||
Standard Bank | 04/10/2013-04/12/2013 | (1,580) | 1,577 | (3 | ) | |||||||
Starr Securities | 04/03/2013 | (292) | 292 | — | ||||||||
State Street | 04/03/2013-04/30/2013 | (9,409) | 9,511 | 102 | ||||||||
UBS | 04/11/2013-04/30/2013 | (97,315) | 98,670 | 1,355 | ||||||||
Westpac Banking | 04/30/2013 | (20,206) | 20,117 | (89 | ) | |||||||
|
| |||||||||||
$ | 3,690 | |||||||||||
|
|
For the six months ended March 31, 2013, 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 period.
14 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
A list of outstanding swap agreements held by the Fund at March 31, 2013, is as follows:
Interest Rate Swaps | ||||||||||||||||||
Counterparty | Fund Pays | Fund Receives | Termination Date | Currency | Notional Amount (Thousands) | Net Unrealized ($ Thousands) | ||||||||||||
Citigroup | 3.79% | 6-Month GBP LIBOR | 05/19/2019 | GBP | 2,500 | $ | (640 | ) | ||||||||||
Deutsche Bank | 6-Month EURIBOR Flat | 1.77% | 09/07/2022 | EUR | 5,250 | 171 | ||||||||||||
Deutsche Bank | 1.93% | 6-Month EURIBOR | 04/03/2019 | EUR | 4,200 | (359 | ) | |||||||||||
JPMorgan Chase Bank | 6-Month JPY LIBOR | 2.22% | 03/26/2027 | JPY | 750,000 | 1,242 | ||||||||||||
Merrill Lynch | 3-Month Canadian Bankers Acceptance Rate | 2.56% | 04/24/2022 | CAD | 2,000 | 73 | ||||||||||||
Royal Bank of Scotland | 6-Month EURIBOR | 3.14% | 08/04/2021 | EUR | 1,450 | 290 | ||||||||||||
UBS Warburg | 2.66% | 6-Month GBP LIBOR | 09/05/2032 | GBP | 1,000 | 18 | ||||||||||||
UBS Warburg | 1.07% | 6-Month EURIBOR FLAT | 09/11/2017 | EUR | 2,000 | (43 | ) | |||||||||||
|
| |||||||||||||||||
$ | 752 | |||||||||||||||||
|
|
Credit Default Swap | ||||||||||||||||||
Counterparty | Reference Entity/Obligation | Buy/Sell Protection | (Pays)/ Receives Rate | Termination Date | Notional Amount ($ Thousands) | Net Unrealized Appreciation ($ Thousands) | ||||||||||||
JPMorgan Chase Bank | JPSW Itraxx Europe Series 19 5 Yr | BUY | 1.00% | 06/20/2018 | $ | 5,000 | $ | 18 | ||||||||||
|
|
For the six months ended March 31, 2013, the total amount of all swap contracts, as presented in the table above, are representative of the volume of activity for this derivative type during the period.
Percentages are based on a Net Assets of $509,330 ($ Thousands).
(1) | In local currency unless otherwise indicated. |
(A) | 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. |
(B) | Variable Rate Security — The rate reported on the Summary Schedule of Investments is the rate in effect as of March 31, 2013. |
†† | The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available (i) without charge, upon request, by calling (800) 342-5734; and (ii) on the SEC’s website at http://www.sec.gov. |
AUD — Australian Dollar
CAD — Canadian Dollar
CHF — Swiss Franc
CZK — Czech Koruna
Cl — Class
DKK — Danish Krone
EURIBOR — Euro London Interbank Offered Rate
EUR — Euro
GBP — British Pound Sterling
HKD — Hong Kong Dollar
JPY — Japanese Yen
KRW — Korean Won
LIBOR — London Interbank Offered Rate
MTN — Medium Term Note
MXN — Mexican Peso
NOK — Norwegian Krone
NZD — New Zealand Dollar
PEI — Peruvian Inca
PLC — Public Limited Company
PLN — Polish Zlotty
SEK — Swedish Krone
SGD — Singapore Dollar
Ser — Series
THB — Thailand Bhat
TRY — Turkish Lira
USD — U.S. Dollar
ZAR — South African Rand
The following is a summary of the inputs used as of March 31, 2013, 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 | $ | — | $ | 474,009 | $ | — | $ | 474,009 | ||||||||
Mortgage-Backed Securities | — | 11,825 | — | 11,825 | ||||||||||||
Corporate Obligations | — | 8,085 | — | 8,085 | ||||||||||||
U.S. Treasury Obligations | — | 2,450 | — | 2,450 | ||||||||||||
Asset-Backed Security | — | 481 | — | 481 | ||||||||||||
Time Deposits | — | 10,092 | — | 10,092 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | — | $ | 506,942 | $ | — | $ | 506,942 | ||||||||
|
|
|
|
|
|
|
|
Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Futures Contracts * | $ | (36 | ) | $ — | $ | — | $ (36 | ) | ||||||||
Forwards Contracts* | — | 3,690 | — | 3,690 | ||||||||||||
Interest Rate Swaps * | — | 752 | — | 752 | ||||||||||||
Credit Default Swaps * | — | 18 | — | 18 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | $ | (36 | ) | $4,460 | $ | — | $4,424 | |||||||||
|
|
|
|
|
|
|
|
* | 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, 2013, there were no transfers between Level 1 and Level 2 assets and liabilities.
For the six months ended March 31, 2013, there were no transfers between Level 2 and Level 3 assets and liabilities.
Amounts designated as “—” are $0 or have been rounded to $0.
The accompanying notes are an integral part of the financial statements.
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 15 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
GLOBAL BONDS — 90.4% |
| |||||||||||||||
Angola — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | % | $ | 1,284 | ||||||||||||
|
| |||||||||||||||
Argentina — 0.9% |
| |||||||||||||||
Other Securities | 0.9 | 11,551 | ||||||||||||||
|
| |||||||||||||||
Azerbaijan — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 700 | ||||||||||||||
|
| |||||||||||||||
Barbados — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 669 | ||||||||||||||
|
| |||||||||||||||
Belarus — 0.2% |
| |||||||||||||||
Other Securities | 0.2 | 2,766 | ||||||||||||||
|
| |||||||||||||||
Bermuda — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 861 | ||||||||||||||
|
| |||||||||||||||
Bolivia — 0.0% |
| |||||||||||||||
Other Securities | 0.0 | 249 | ||||||||||||||
|
| |||||||||||||||
Bosnia and Herzegovina — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 725 | ||||||||||||||
|
| |||||||||||||||
Brazil — 8.3% |
| |||||||||||||||
Banco do Brasil | ||||||||||||||||
6.250%, 12/31/2049 (A) (B) | 0.0 | 322 | 317 | |||||||||||||
3.875%, 10/10/2022 | 0.0 | 209 | 202 | |||||||||||||
Banco Nacional de Desenvolvimento Economico e Social | ||||||||||||||||
6.500%, 06/10/2019 (B) | 0.1 | 660 | 774 | |||||||||||||
5.500%, 07/12/2020 (B) | 0.0 | 400 | 451 | |||||||||||||
Barclays, CLN (Federal Republic of Brazil) | ||||||||||||||||
10.000%, 01/01/2023 | 0.5 | BRL | 12,710 | 6,264 | ||||||||||||
6.000%, 05/15/2015 | 0.3 | BRL | 2,710 | 3,267 | ||||||||||||
6.000%, 05/15/2015 | 0.1 | BRL | 660 | 796 | ||||||||||||
6.000%, 08/15/2016 | 0.1 | BRL | 500 | 610 | ||||||||||||
6.000%, 08/15/2020 | 0.1 | BRL | 840 | 1,082 |
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Brazil Letras do Tesouro Nacional | ||||||||||||||||
8.572%, 01/01/2015 (C) | 0.4 | % | BRL | 12,170 | $ | 5,206 | ||||||||||
Brazil Notas do Tesouro Nacional, Ser B | ||||||||||||||||
13.199%, 05/15/2015 | 0.6 | BRL | 5,706 | 6,879 | ||||||||||||
10.674%, 08/15/2020 | 0.9 | BRL | 8,330 | 10,726 | ||||||||||||
Brazil Notas do Tesouro Nacional, Serie B | ||||||||||||||||
6.000%, 08/15/2016 | 0.0 | BRL | 332 | 405 | ||||||||||||
6.000%, 08/15/2050 | 0.2 | BRL | 1,520 | 2,187 | ||||||||||||
Brazil Notas do Tesouro Nacional, Serie F | ||||||||||||||||
10.000%, 01/01/2023 | 0.0 | BRL | 90 | 44 | ||||||||||||
10.000%, 01/01/2021 | 0.1 | BRL | 1,932 | 957 | ||||||||||||
Caixa Economica Federal | ||||||||||||||||
2.375%, 11/06/2017 (B) | 0.1 | 1,000 | 971 | |||||||||||||
Citigroup Funding, CLN (Federal Republic of Brazil) MTN | ||||||||||||||||
6.000%, 08/16/2018 | 0.4 | 5,154 | 5,319 | |||||||||||||
Cosan | ||||||||||||||||
5.000%, 03/14/2023 | 0.0 | 200 | 201 | |||||||||||||
Deutsche Bank, CLN (Nota Do Tesouro Nacional) MTN | ||||||||||||||||
10.000%, 01/06/2021 | 0.2 | 2,500 | 2,581 | |||||||||||||
Federal Republic of Brazil | ||||||||||||||||
10.250%, 01/10/2028 | 0.1 | BRL | 2,000 | 1,187 | ||||||||||||
10.125%, 05/15/2027 | 0.3 | 2,117 | 3,644 | |||||||||||||
8.875%, 04/15/2024 | 0.1 | 440 | 674 | |||||||||||||
8.500%, 01/05/2024 | 0.3 | BRL | 7,600 | 4,016 | ||||||||||||
8.250%, 01/20/2034 | 0.2 | 1,186 | 1,803 | |||||||||||||
7.125%, 01/20/2037 | 0.3 | 2,404 | 3,336 | |||||||||||||
4.875%, 01/22/2021 | 0.1 | 560 | 650 | |||||||||||||
2.625%, 01/05/2023 | 0.0 | 400 | 384 | |||||||||||||
HSBC, CLN (Federal Republic of Brazil) | ||||||||||||||||
10.000%, 01/01/2017 | 0.3 | BRL | 7,800 | 3,910 | ||||||||||||
10.000%, 01/01/2017 | 0.1 | BRL | 2,160 | 1,083 | ||||||||||||
10.000%, 01/01/2021 | 0.3 | BRL | 6,770 | 3,355 | ||||||||||||
10.000%, 01/01/2021 | 0.1 | BRL | 1,700 | 842 | ||||||||||||
6.000%, 05/15/2015 | 0.2 | BRL | 1,880 | 2,266 | ||||||||||||
6.000%, 08/15/2022 | 0.1 | BRL | 700 | 919 | ||||||||||||
JPMorgan, CLN (Federal Republic of Brazil) | ||||||||||||||||
10.000%, 01/01/2017 | 0.8 | BRL | 18,700 | 9,374 | ||||||||||||
10.000%, 01/01/2017 | 0.1 | BRL | 2,400 | 1,203 | ||||||||||||
10.000%, 01/01/2023 | 0.1 | BRL | 1,800 | 887 | ||||||||||||
6.000%, 05/15/2015 | 0.2 | BRL | 2,350 | 2,833 | ||||||||||||
Samarco Mineracao | ||||||||||||||||
4.125%, 11/01/2022 (B) | 0.0 | 234 | 228 | |||||||||||||
Vale | ||||||||||||||||
5.625%, 09/11/2042 | 0.0 | 340 | 336 | |||||||||||||
Other Securities | 0.5 | 11,557 | ||||||||||||||
|
| |||||||||||||||
103,726 | ||||||||||||||||
|
|
16 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Canada — 0.0% |
| |||||||||||||||
PTTEP Canada International Finance MTN | ||||||||||||||||
5.692%, 04/05/2021 | 0.0 | % | 200 | $ | 230 | |||||||||||
Other Securities | 0.0 | 250 | ||||||||||||||
|
| |||||||||||||||
480 | ||||||||||||||||
|
| |||||||||||||||
Chile — 1.0% |
| |||||||||||||||
Other Securities | 1.0 | 12,081 | ||||||||||||||
|
| |||||||||||||||
China — 1.4% |
| |||||||||||||||
Tencent Holdings | ||||||||||||||||
4.625%, 12/12/2016 | 0.0 | 250 | 273 | |||||||||||||
3.375%, 03/05/2018 (B) | 0.0 | 217 | 226 | |||||||||||||
Other Securities | 1.4 | 16,771 | ||||||||||||||
|
| |||||||||||||||
17,270 | ||||||||||||||||
|
| |||||||||||||||
Colombia — 3.9% |
| |||||||||||||||
Bogota Distrito Capital | ||||||||||||||||
9.750%, 07/26/2028 | 0.0 | COP | 530,000 | 420 | ||||||||||||
9.750%, 07/26/2028 (B) | 0.6 | COP | 8,820,000 | 6,991 | ||||||||||||
Citigroup Funding, CLN (Republic of Columbia) MTN | ||||||||||||||||
11.000%, 07/27/2020 | 0.5 | COP | 8,830,000 | 6,626 | ||||||||||||
Colombian TES | ||||||||||||||||
10.000%, 07/24/2024 | 0.2 | COP | 2,750,000 | 2,125 | ||||||||||||
7.500%, 08/26/2026 | 0.1 | COP | 2,356,000 | 1,567 | ||||||||||||
Ecopetrol | ||||||||||||||||
7.625%, 07/23/2019 (B) | 0.0 | 220 | 276 | |||||||||||||
Republic of Colombia | ||||||||||||||||
12.000%, 10/22/2015 | 0.0 | COP | 653,000 | 430 | ||||||||||||
11.750%, 02/25/2020 | 0.2 | 1,685 | 2,633 | |||||||||||||
10.375%, 01/28/2033 | 0.0 | 140 | 241 | |||||||||||||
9.850%, 06/28/2027 | 0.2 | COP | 2,670,000 | 2,251 | ||||||||||||
9.850%, 06/28/2027 | 0.3 | COP | 3,810,000 | 3,212 | ||||||||||||
8.125%, 05/21/2024 | 0.2 | 1,348 | 1,940 | |||||||||||||
7.750%, 04/14/2021 | 0.3 | COP | 6,001,000 | 4,168 | ||||||||||||
7.375%, 03/18/2019 | 0.2 | 1,760 | 2,266 | |||||||||||||
7.375%, 09/18/2037 | 0.5 | 4,477 | 6,402 | |||||||||||||
6.125%, 01/18/2041 | 0.2 | 1,705 | 2,145 | |||||||||||||
4.375%, 07/12/2021 | 0.1 | 450 | 503 | |||||||||||||
4.375%, 03/21/2023 | 0.1 | COP | 1,371,000 | 775 | ||||||||||||
2.625%, 03/15/2023 | 0.0 | 454 | 436 | |||||||||||||
Titulos de Tesoreria | ||||||||||||||||
7.000%, 02/25/2015 | 0.1 | COP | 570,000 | 708 | ||||||||||||
Other Securities | 0.1 | 2,754 | ||||||||||||||
|
| |||||||||||||||
48,869 | ||||||||||||||||
|
| |||||||||||||||
Costa Rica — 0.0% |
| |||||||||||||||
Other Securities | 0.0 | 609 | ||||||||||||||
|
| |||||||||||||||
Croatia — 0.8% |
| |||||||||||||||
Other Securities | 0.8 | 9,572 | ||||||||||||||
|
|
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Czech Republic — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | % | $ | 1,327 | ||||||||||||
|
| |||||||||||||||
Dominican Republic — 0.3% |
| |||||||||||||||
Other Securities | 0.3 | 3,989 | ||||||||||||||
|
| |||||||||||||||
Ecuador — 0.0% |
| |||||||||||||||
Other Securities | 0.0 | 480 | ||||||||||||||
|
| |||||||||||||||
Egypt — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 822 | ||||||||||||||
|
| |||||||||||||||
El Salvador — 0.4% |
| |||||||||||||||
Other Securities | 0.4 | 5,154 | ||||||||||||||
|
| |||||||||||||||
Gabon — 0.0% |
| |||||||||||||||
Other Securities | 0.0 | 273 | ||||||||||||||
|
| |||||||||||||||
Georgia — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 835 | ||||||||||||||
|
| |||||||||||||||
Ghana — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 845 | ||||||||||||||
|
| |||||||||||||||
Guatemala — 0.2% |
| |||||||||||||||
Other Securities | 0.2 | 2,359 | ||||||||||||||
|
| |||||||||||||||
Hong Kong — 0.3% |
| |||||||||||||||
CFG Investment | ||||||||||||||||
9.750%, 07/30/2019 | 0.0 | 450 | 423 | |||||||||||||
9.750%, 07/30/2019 | 0.1 | 450 | 422 | |||||||||||||
Hengdeli Holdings | ||||||||||||||||
6.250%, 01/29/2018 | 0.1 | 600 | 614 | |||||||||||||
Other Securities | 0.1 | 2,266 | ||||||||||||||
|
| |||||||||||||||
3,725 | ||||||||||||||||
|
| |||||||||||||||
Hungary — 2.7% |
| |||||||||||||||
Hungary Treasury Bills | ||||||||||||||||
5.504%, 04/17/2013 (C) | 0.2 | 450,000 | 1,892 | |||||||||||||
Magyar Export-Import Bank RT | ||||||||||||||||
5.500%, 02/12/2018 (B) | 0.0 | 200 | 197 | |||||||||||||
Republic of Hungary | ||||||||||||||||
8.000%, 02/12/2015 | 0.4 | HUF | 1,052,950 | 4,690 | ||||||||||||
7.750%, 08/24/2015 | 0.6 | HUF | 1,630,040 | 7,299 | ||||||||||||
7.625%, 03/29/2041 | 0.1 | 870 | 887 | |||||||||||||
7.000%, 06/24/2022 | 0.2 | HUF | 609,000 | 2,677 | ||||||||||||
6.750%, 02/24/2017 | 0.1 | HUF | 164,010 | 724 | ||||||||||||
6.750%, 11/24/2017 | 0.3 | HUF | 939,900 | 4,165 | ||||||||||||
6.500%, 06/24/2019 | 0.1 | HUF | 219,150 | 955 | ||||||||||||
6.375%, 03/29/2021 | 0.1 | 1,734 | 1,786 | |||||||||||||
6.250%, 01/29/2020 | 0.1 | 781 | 798 | |||||||||||||
6.000%, 01/11/2019 | 0.1 | EUR | 982 | 1,270 | ||||||||||||
6.000%, 11/24/2023 | 0.0 | HUF | 133,510 | 546 |
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 17 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
Emerging Markets Debt Fund (Continued)
March 31, 2013
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
5.750%, 06/11/2018 | 0.1 | % | EUR | 1,319 | $ | 1,697 | ||||||||||
5.500%, 05/06/2014 | 0.0 | GBP | 66 | 102 | ||||||||||||
5.375%, 02/21/2023 | 0.1 | 1,000 | 941 | |||||||||||||
5.000%, 03/30/2016 | 0.0 | GBP | 227 | 339 | ||||||||||||
4.125%, 02/19/2018 | 0.0 | 486 | 464 | |||||||||||||
3.500%, 07/18/2016 | 0.2 | EUR | 1,637 | 2,024 | ||||||||||||
|
| |||||||||||||||
33,453 | ||||||||||||||||
|
| |||||||||||||||
India — 0.2% |
| |||||||||||||||
Other Securities | 0.2 | 2,701 | ||||||||||||||
|
| |||||||||||||||
Indonesia — 4.6% |
| |||||||||||||||
Deutsche Bank, CLN (Republic of Indonesia) | ||||||||||||||||
7.000%, 05/15/2022 | 0.1 | IDR | 4,600,000 | 522 | ||||||||||||
Indo Energy Finance II | ||||||||||||||||
6.375%, 01/24/2023 (B) | 0.0 | 200 | 205 | |||||||||||||
6.375%, 01/24/2023 | 0.0 | 200 | 205 | |||||||||||||
JPMorgan, CLN (Republic of Indonesia) | ||||||||||||||||
7.000%, 05/15/2022 | 1.0 | IDR | 107,500,000 | 12,198 | ||||||||||||
5.625%, 05/15/2023 | 0.1 | IDR | 12,900,000 | 1,320 | ||||||||||||
5.250%, 05/15/2018 | 0.2 | IDR | 20,000,000 | 2,082 | ||||||||||||
Majapahit Holding | ||||||||||||||||
8.000%, 08/07/2019 | 0.1 | 470 | 579 | |||||||||||||
7.875%, 06/29/2037 (B) | 0.0 | 205 | 265 | |||||||||||||
7.750%, 10/17/2016 | 0.0 | 370 | 429 | |||||||||||||
7.750%, 01/20/2020 (B) | 0.0 | 250 | 306 | |||||||||||||
7.750%, 01/20/2020 | 0.0 | 30 | 37 | |||||||||||||
Pertamina Persero | ||||||||||||||||
6.500%, 05/27/2041 (B) | 0.0 | 380 | 411 | |||||||||||||
6.000%, 05/03/2042 (B) | 0.1 | 935 | 954 | |||||||||||||
5.250%, 05/23/2021 (B) | 0.1 | 500 | 535 | |||||||||||||
4.875%, 05/03/2022 (B) | 0.0 | 220 | 229 | |||||||||||||
Perusahaan Listrik Negara | ||||||||||||||||
5.500%, 11/22/2021 (B) | 0.0 | 310 | 336 | |||||||||||||
5.250%, 10/24/2042 | 0.0 | 200 | 189 | |||||||||||||
Republic of Indonesia | ||||||||||||||||
11.625%, 03/04/2019 | 0.1 | 628 | 911 | |||||||||||||
11.625%, 03/04/2019 (B) | 0.1 | 1,195 | 1,733 | |||||||||||||
11.625%, 03/04/2019 | 0.2 | 1,786 | 2,590 | |||||||||||||
11.000%, 10/15/2014 | 0.1 | IDR | 5,200,000 | 587 | ||||||||||||
10.375%, 05/04/2014 | 0.0 | 190 | 208 | |||||||||||||
8.500%, 10/12/2035 | 0.3 | 2,449 | 3,612 | |||||||||||||
8.500%, 10/12/2035 | 0.0 | 101 | 149 | |||||||||||||
8.250%, 06/15/2032 | 0.5 | IDR | 46,001,000 | 5,604 | ||||||||||||
7.750%, 01/17/2038 | 0.0 | 100 | 139 | |||||||||||||
7.750%, 01/17/2038 | 0.6 | 5,551 | 7,733 | |||||||||||||
7.500%, 01/15/2016 | 0.0 | 400 | 458 | |||||||||||||
7.000%, 05/15/2022 | 0.3 | IDR | 33,520,000 | 3,803 | ||||||||||||
6.875%, 01/17/2018 | 0.1 | 910 | 1,074 | |||||||||||||
6.625%, 05/15/2033 | 0.1 | IDR | 14,378,000 | 1,495 | ||||||||||||
6.625%, 02/17/2037 | 0.0 | 110 | 136 | |||||||||||||
6.625%, 02/17/2037 | 0.0 | 70 | 86 | |||||||||||||
6.250%, 04/15/2017 | 0.1 | IDR | 16,000,000 | 1,726 |
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
6.125%, 05/15/2028 | 0.0 | % | IDR | 900,000 | $ | 91 | ||||||||||
5.875%, 03/13/2020 (B) | 0.1 | 864 | 998 | |||||||||||||
5.875%, 03/13/2020 | 0.0 | 120 | 139 | |||||||||||||
5.625%, 05/15/2023 | 0.1 | IDR | 9,940,000 | 1,017 | ||||||||||||
5.250%, 01/17/2042 (D) | 0.0 | 337 | 359 | |||||||||||||
4.875%, 05/05/2021 (B) | 0.1 | 850 | 931 | |||||||||||||
Other Securities | 0.1 | 1,290 | ||||||||||||||
|
| |||||||||||||||
57,671 | ||||||||||||||||
|
| |||||||||||||||
Iraq — 0.3% |
| |||||||||||||||
Other Securities | 0.3 | 4,233 | ||||||||||||||
|
| |||||||||||||||
Israel — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 1,435 | ||||||||||||||
|
| |||||||||||||||
Ivory Coast — 0.3% |
| |||||||||||||||
Ivory Coast | ||||||||||||||||
7.100%, 12/31/2032 | 0.3 | 3,413 | 3,157 | |||||||||||||
|
| |||||||||||||||
Jamaica — 0.2% |
| |||||||||||||||
Other Securities | 0.2 | 2,404 | ||||||||||||||
|
| |||||||||||||||
Kazakhstan — 1.4% |
| |||||||||||||||
Other Securities | 1.4 | 17,628 | ||||||||||||||
|
| |||||||||||||||
Kuwait — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 1,152 | ||||||||||||||
|
| |||||||||||||||
Latvia — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 769 | ||||||||||||||
|
| |||||||||||||||
Lithuania — 1.1% |
| |||||||||||||||
Republic of Lithuania | ||||||||||||||||
7.375%, 02/11/2020 | 0.0 | 290 | 365 | |||||||||||||
7.375%, 02/11/2020 (B) | 0.1 | 800 | 1,006 | |||||||||||||
6.625%, 02/01/2022 | 0.1 | 1,000 | 1,225 | |||||||||||||
6.625%, 02/01/2022 (B) | 0.1 | 1,000 | 1,225 | |||||||||||||
6.125%, 03/09/2021 | 0.5 | 5,297 | 6,277 | |||||||||||||
6.125%, 03/09/2021 (B) | 0.2 | 1,424 | 1,687 | |||||||||||||
5.125%, 09/14/2017 (B) | 0.0 | 310 | 343 | |||||||||||||
5.125%, 09/14/2017 | 0.0 | 100 | 111 | |||||||||||||
4.850%, 02/07/2018 | 0.1 | EUR | 650 | 919 | ||||||||||||
|
| |||||||||||||||
13,158 | ||||||||||||||||
|
| |||||||||||||||
Malaysia — 5.0% |
| |||||||||||||||
Malaysia Government Bond | ||||||||||||||||
4.392%, 04/15/2026 | 0.2 | MYR | 8,100 | 2,825 | ||||||||||||
4.262%, 09/15/2016 | 0.7 | MYR | 27,630 | 9,271 | ||||||||||||
4.160%, 07/15/2021 | 0.4 | MYR | 13,410 | 4,529 | ||||||||||||
4.012%, 09/15/2017 | 0.8 | MYR | 28,210 | 9,431 | ||||||||||||
3.892%, 03/15/2027 | 0.1 | MYR | 5,628 | 1,864 | ||||||||||||
3.580%, 09/28/2018 | 0.2 | MYR | 6,750 | 2,214 | ||||||||||||
3.492%, 03/31/2020 | 0.2 | MYR | 5,753 | 1,867 | ||||||||||||
3.418%, 08/15/2022 | 0.2 | MYR | 8,159 | 2,626 |
18 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
3.314%, 10/31/2017 | 0.1 | % | MYR | 4,270 | $ | 1,387 | ||||||||||
3.260%, 03/01/2018 | 0.5 | MYR | 19,200 | 6,214 | ||||||||||||
3.197%, 10/15/2015 | 0.9 | MYR | 32,680 | 10,596 | ||||||||||||
3.172%, 07/15/2016 | 0.1 | MYR | 5,740 | 1,861 | ||||||||||||
Petroliam Nasional | ||||||||||||||||
7.625%, 10/15/2026 | 0.0 | 106 | 151 | |||||||||||||
Petronas Capital | ||||||||||||||||
7.875%, 05/22/2022 | 0.3 | 2,452 | 3,411 | |||||||||||||
5.250%, 08/12/2019 (B) | 0.0 | 100 | 116 | |||||||||||||
5.250%, 08/12/2019 | 0.3 | 2,790 | 3,245 | |||||||||||||
Wakala Global Sukuk | ||||||||||||||||
4.646%, 07/06/2021 (B) | 0.0 | 390 | 438 | |||||||||||||
Other Securities | 0.0 | 283 | ||||||||||||||
|
| |||||||||||||||
62,329 | ||||||||||||||||
|
| |||||||||||||||
Mexico — 9.3% |
| |||||||||||||||
Comision Federal de Electricidad | ||||||||||||||||
5.750%, 02/14/2042 (B) | 0.0 | 500 | 545 | |||||||||||||
4.875%, 05/26/2021 (B) | 0.0 | 400 | 445 | |||||||||||||
Mexican Bonos MTN | ||||||||||||||||
8.000%, 06/11/2020 | 0.0 | MXN | 2,514 | 243 | ||||||||||||
7.750%, 11/13/2042 | 0.1 | MXN | 10,300 | 1,050 | ||||||||||||
7.500%, 06/03/2027 | 0.7 | MXN | 94,497 | 9,266 | ||||||||||||
7.000%, 06/19/2014 | 0.1 | MXN | 9,182 | 768 | ||||||||||||
6.500%, 06/09/2022 | 0.8 | MXN | 108,745 | 9,797 | ||||||||||||
6.250%, 06/16/2016 | 0.1 | MXN | 19,580 | 1,668 | ||||||||||||
6.000%, 06/18/2015 | 0.3 | MXN | 45,230 | 3,794 | ||||||||||||
5.000%, 06/15/2017 | 0.2 | MXN | 23,456 | 1,926 | ||||||||||||
4.750%, 03/08/2044 | 0.2 | 1,864 | 1,934 | |||||||||||||
3.625%, 03/15/2022 | 0.0 | 340 | 361 | |||||||||||||
Mexican Bonos, Ser M | ||||||||||||||||
6.500%, 06/10/2021 | 0.4 | MXN | 60,554 | 5,431 | ||||||||||||
Mexican Bonos, Ser M10 | ||||||||||||||||
8.500%, 12/13/2018 | 0.1 | MXN | 10,450 | 1,004 | ||||||||||||
8.000%, 12/17/2015 | 0.1 | MXN | 10,027 | 886 | ||||||||||||
7.750%, 12/14/2017 | 0.2 | MXN | 21,317 | 1,950 | ||||||||||||
7.250%, 12/15/2016 | 0.1 | MXN | 12,500 | 1,104 | ||||||||||||
Mexican Bonos, Ser M20 | ||||||||||||||||
8.500%, 05/31/2029 | 0.4 | MXN | 40,820 | 4,347 | ||||||||||||
8.000%, 12/07/2023 | 0.4 | MXN | 52,280 | 5,279 | ||||||||||||
7.750%, 05/29/2031 | 0.5 | MXN | 60,935 | 6,091 | ||||||||||||
Mexican Bonos, Ser M30 | ||||||||||||||||
10.000%, 11/20/2036 | 0.3 | MXN | 32,300 | 4,003 | ||||||||||||
8.500%, 11/18/2038 | 0.3 | MXN | 35,401 | 3,867 | ||||||||||||
Mexican Udibonos | ||||||||||||||||
5.000%, 06/16/2016 | 0.1 | MXN | 2,380 | 1,073 | ||||||||||||
4.000%, 11/15/2040 | 0.1 | MXN | 2,940 | 1,603 | ||||||||||||
2.500%, 12/10/2020 | 0.8 | MXN | 21,110 | 9,298 | ||||||||||||
2.000%, 06/09/2022 | 0.1 | MXN | 1,918 | 811 | ||||||||||||
Mexichem | ||||||||||||||||
6.750%, 09/19/2042 (B) | 0.0 | 400 | 444 | |||||||||||||
4.875%, 09/19/2022 (B) | 0.0 | 200 | 212 | |||||||||||||
Mexico Cetes | ||||||||||||||||
4.460%, 06/27/2013 (C) | 0.1 | MXN | 179,756 | 1,440 |
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||
Pemex Finance | ||||||||||||||
9.150%, 11/15/2018 | 0.2 | % | 1,595 | $ | 1,969 | |||||||||
Pemex Project Funding Master Trust | ||||||||||||||
6.625%, 06/15/2035 | 0.1 | 1,244 | 1,490 | |||||||||||
5.750%, 03/01/2018 | 0.1 | 1,285 | 1,476 | |||||||||||
Petroleos Mexicanos | ||||||||||||||
8.000%, 05/03/2019 | 0.0 | 408 | 522 | |||||||||||
6.500%, 06/02/2041 | 0.1 | 677 | 797 | |||||||||||
6.000%, 03/05/2020 (B) | 0.0 | 60 | 71 | |||||||||||
6.000%, 03/05/2020 | 0.0 | 180 | 212 | |||||||||||
5.500%, 06/27/2044 (B) | 0.0 | 150 | 155 | |||||||||||
5.500%, 06/27/2044 | 0.0 | 70 | 72 | |||||||||||
3.500%, 01/30/2023 (B) | 0.0 | 185 | 185 | |||||||||||
United Mexican States MTN | ||||||||||||||
8.300%, 08/15/2031 | 0.2 | 1,670 | 2,534 | |||||||||||
6.050%, 01/11/2040 | 0.2 | 1,502 | 1,866 | |||||||||||
5.950%, 03/19/2019 | 0.0 | 370 | 448 | |||||||||||
5.750%, 10/12/2110 | 0.7 | 7,572 | 8,306 | |||||||||||
5.625%, 01/15/2017 | 0.0 | 462 | 531 | |||||||||||
5.125%, 01/15/2020 | 0.1 | 550 | 644 | |||||||||||
United Mexican States, Ser A MTN | ||||||||||||||
6.750%, 09/27/2034 | 0.1 | 746 | 992 | |||||||||||
Other Securities | 1.0 | 12,550 | ||||||||||||
|
| |||||||||||||
115,460 | ||||||||||||||
|
| |||||||||||||
Mongolia — 0.1% | ||||||||||||||
Other Securities | 0.1 | 951 | ||||||||||||
|
| |||||||||||||
Morocco — 0.2% | ||||||||||||||
Other Securities | 0.2 | 1,998 | ||||||||||||
|
| |||||||||||||
Nigeria — 1.3% | ||||||||||||||
Other Securities | 1.3 | 16,566 | ||||||||||||
|
| |||||||||||||
Pakistan — 0.1% | ||||||||||||||
Other Securities | 0.1 | 1,052 | ||||||||||||
|
| |||||||||||||
Panama — 1.0% | ||||||||||||||
ENA Norte Trust | ||||||||||||||
4.950%, 04/25/2023 | 0.0 | 248 | 256 | |||||||||||
Other Securities | 1.0 | 12,719 | ||||||||||||
|
| |||||||||||||
12,975 | ||||||||||||||
|
| |||||||||||||
Paraguay — 0.1% | ||||||||||||||
Other Securities | 0.1 | 935 | ||||||||||||
|
| |||||||||||||
Peru — 1.2% | ||||||||||||||
Azucarera del Peru | ||||||||||||||
6.375%, 08/02/2022 | 0.0 | 121 | 127 | |||||||||||
El Fondo MIVIVIENDA | ||||||||||||||
3.500%, 01/31/2023 (B) | 0.0 | 250 | 242 |
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 19 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
Emerging Markets Debt Fund (Continued)
March 31, 2013
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Republic of Peru | ||||||||||||||||
9.910%, 05/05/2015 | 0.0 | % | PEI | 675 | $ | 306 | ||||||||||
8.750%, 11/21/2033 | 0.4 | 2,839 | 4,642 | |||||||||||||
8.600%, 08/12/2017 | 0.1 | PEI | 2,110 | 1,017 | ||||||||||||
8.375%, 05/03/2016 | 0.1 | 350 | 426 | |||||||||||||
8.200%, 08/12/2026 | 0.1 | PEI | 1,350 | 728 | ||||||||||||
7.840%, 08/12/2020 | 0.1 | PEI | 2,820 | 1,372 | ||||||||||||
7.350%, 07/21/2025 | 0.2 | 1,580 | 2,230 | |||||||||||||
7.125%, 03/30/2019 | 0.0 | 120 | 154 | |||||||||||||
6.950%, 08/12/2031 | 0.1 | PEI | 1,400 | 673 | ||||||||||||
Other Securities | 0.1 | 3,041 | ||||||||||||||
|
| |||||||||||||||
�� | 14,958 | |||||||||||||||
|
| |||||||||||||||
Philippines — 1.6% |
| |||||||||||||||
Development Bank of Philippines | ||||||||||||||||
5.500%, 03/25/2021 | 0.0 | 330 | 371 | |||||||||||||
Republic of Philippines | ||||||||||||||||
10.625%, 03/16/2025 | 0.2 | 1,270 | 2,131 | |||||||||||||
9.500%, 02/02/2030 | 0.2 | 1,237 | 2,027 | |||||||||||||
8.375%, 06/17/2019 | 0.0 | 320 | 431 | |||||||||||||
7.750%, 01/14/2031 | 0.6 | 4,918 | 7,113 | |||||||||||||
6.375%, 10/23/2034 | 0.1 | 530 | 694 | |||||||||||||
6.250%, 01/14/2036 | 0.1 | PHP | 50,000 | 1,628 | ||||||||||||
5.500%, 03/30/2026 | 0.0 | 540 | 660 | |||||||||||||
4.000%, 01/15/2021 | 0.1 | 1,216 | 1,344 | |||||||||||||
3.900%, 11/26/2022 | 0.1 | PHP | 45,000 | 1,202 | ||||||||||||
Other Securities | 0.2 | 2,836 | ||||||||||||||
|
| |||||||||||||||
20,437 | ||||||||||||||||
|
| |||||||||||||||
Poland — 6.1% |
| |||||||||||||||
Republic of Poland | ||||||||||||||||
6.375%, 07/15/2019 | 0.7 | 6,654 | 8,175 | |||||||||||||
6.250%, 10/24/2015 | 0.1 | PLN | 3,080 | 1,015 | ||||||||||||
5.750%, 04/25/2014 | 0.0 | PLN | 980 | 309 | ||||||||||||
5.750%, 04/25/2029 | 0.1 | PLN | 3,280 | 1,195 | ||||||||||||
5.125%, 04/21/2021 | 0.1 | 1,000 | 1,155 | |||||||||||||
5.000%, 10/24/2013 | 0.1 | PLN | 2,800 | 868 | ||||||||||||
5.000%, 03/23/2022 | 0.3 | 3,438 | 3,928 | |||||||||||||
4.750%, 04/25/2017 | 0.5 | PLN | 19,646 | 6,348 | ||||||||||||
4.000%, 03/23/2021 | 0.1 | EUR | 736 | 1,073 | ||||||||||||
4.000%, 10/25/2023 | 0.4 | PLN | 15,770 | 4,866 | ||||||||||||
3.000%, 08/24/2016 | 0.7 | PLN | 29,220 | 9,361 | ||||||||||||
3.000%, 03/17/2023 | 0.1 | 811 | 785 | |||||||||||||
2.750%, 08/25/2023 | 0.2 | PLN | 6,040 | 2,010 | ||||||||||||
0.479%, 07/25/2014 (C) | 0.3 | PLN | 12,540 | 3,698 | ||||||||||||
Republic of Poland, Ser 0114 | ||||||||||||||||
3.767%, 01/25/2014 (C) | 0.6 | PLN | 26,070 | 7,802 | ||||||||||||
Republic of Poland, Ser 0415 | ||||||||||||||||
5.500%, 04/25/2015 | 0.5 | PLN | 19,600 | 6,288 | ||||||||||||
Republic of Poland, Ser 0922 | ||||||||||||||||
5.750%, 09/23/2022 | 0.6 | PLN | 21,735 | 7,630 | ||||||||||||
Republic of Poland, Ser 1017 | ||||||||||||||||
5.250%, 10/25/2017 | 0.1 | PLN | 5,015 | 1,660 |
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Republic of Poland, Ser 1019 | ||||||||||||||||
5.500%, 10/25/2019 | 0.2 | % | PLN | 7,500 | $ | 2,559 | ||||||||||
Republic of Poland, Ser 1021 | ||||||||||||||||
5.750%, 10/25/2021 | 0.2 | PLN | 7,652 | 2,678 | ||||||||||||
Other Securities | 0.2 | 2,852 | ||||||||||||||
|
| |||||||||||||||
76,255 | ||||||||||||||||
|
| |||||||||||||||
Qatar — 0.5% |
| |||||||||||||||
Other Securities | 0.5 | 6,267 | ||||||||||||||
|
| |||||||||||||||
Romania — 0.8% |
| |||||||||||||||
Other Securities | 0.8 | 9,696 | ||||||||||||||
|
| |||||||||||||||
Russia — 10.2% |
| |||||||||||||||
Gazprom Neft OAO Via GPN Capital | ||||||||||||||||
4.375%, 09/19/2022 (B) | 0.1 | 550 | 542 | |||||||||||||
4.375%, 09/19/2022 | 0.1 | 970 | 957 | |||||||||||||
Gazprom OAO Via Gaz Capital | ||||||||||||||||
9.250%, 04/23/2019 | 0.1 | 900 | 1,161 | |||||||||||||
6.510%, 03/07/2022 | 0.0 | 300 | 346 | |||||||||||||
4.950%, 02/06/2028 | 0.0 | 250 | 246 | |||||||||||||
4.950%, 07/19/2022 (B) | 0.1 | 877 | 920 | |||||||||||||
4.950%, 02/06/2028 (B) | 0.1 | 793 | 781 | |||||||||||||
Rosneft Oil via Rosneft International Finance | ||||||||||||||||
4.199%, 03/06/2022 | 0.0 | 500 | 496 | |||||||||||||
Russian Agricultural Bank Via RSHB Capital | ||||||||||||||||
5.298%, 12/27/2017 (B) | 0.0 | 415 | 440 | |||||||||||||
Russian Federal Bond—OFZ | ||||||||||||||||
8.150%, 02/03/2027 | 0.4 | RUB | 126,462 | 4,387 | ||||||||||||
7.600%, 04/14/2021 | 1.4 | RUB | 523,000 | 17,654 | ||||||||||||
7.600%, 07/20/2022 | 0.2 | RUB | 78,900 | 2,655 | ||||||||||||
7.500%, 03/15/2018 | 0.2 | RUB | 55,065 | 1,865 | ||||||||||||
7.500%, 02/27/2019 | 1.1 | RUB | 391,870 | 13,248 | ||||||||||||
7.400%, 04/19/2017 | 0.1 | RUB | 39,870 | 1,338 | ||||||||||||
7.400%, 06/14/2017 | 0.3 | RUB | 109,160 | 3,661 | ||||||||||||
7.350%, 01/20/2016 | 0.0 | RUB | 11,380 | 378 | ||||||||||||
7.100%, 03/13/2014 | 0.5 | RUB | 173,220 | 5,642 | ||||||||||||
7.000%, 06/03/2015 | 0.8 | RUB | 287,260 | 9,448 | ||||||||||||
6.900%, 08/03/2016 | 0.0 | RUB | 13,130 | 433 | ||||||||||||
6.880%, 07/15/2015 | 0.0 | RUB | 5,500 | 181 | ||||||||||||
6.200%, 01/31/2018 | 0.0 | RUB | 9,458 | 303 | ||||||||||||
Russian Foreign Bond—Eurobond | ||||||||||||||||
12.750%, 06/24/2028 | 0.1 | 746 | 1,425 | |||||||||||||
7.850%, 03/10/2018 | 1.0 | RUB | 355,000 | 12,177 | ||||||||||||
7.500%, 03/31/2030 | 1.1 | 11,288 | 13,983 | |||||||||||||
7.500%, 03/31/2030 | 0.2 | 1,547 | 1,917 | |||||||||||||
5.625%, 04/04/2042 (B) | 0.0 | 400 | 449 | |||||||||||||
5.625%, 04/04/2042 | 0.0 | 200 | 224 | |||||||||||||
5.000%, 04/29/2020 (B) | 0.0 | 200 | 226 | |||||||||||||
3.250%, 04/04/2017 (B) | 0.1 | 1,200 | 1,255 |
20 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
Russian Railways via RZD Capital | ||||||||||||||||
5.700%, 04/05/2022 | 0.0 | % | 398 | $ | 439 | |||||||||||
Sberbank of Russia Via SB Capital | ||||||||||||||||
6.125%, 02/07/2022 (B) | 0.0 | 260 | 291 | |||||||||||||
6.125%, 02/07/2022 | 0.1 | 700 | 782 | |||||||||||||
5.717%, 06/16/2021 | 0.0 | 400 | 435 | |||||||||||||
5.125%, 10/29/2022 (B) | 0.0 | 247 | 246 | |||||||||||||
SCF Capital | ||||||||||||||||
5.375%, 10/27/2017 (B) | 0.0 | 350 | 362 | |||||||||||||
VEB-Leasing Via VEB Leasing Investment | ||||||||||||||||
5.125%, 05/27/2016 | 0.0 | 320 | 336 | |||||||||||||
Vnesheconombank Via VEB Finance | ||||||||||||||||
6.902%, 07/09/2020 (B) | 0.1 | 785 | 913 | |||||||||||||
6.902%, 07/09/2020 | 0.2 | 1,540 | 1,790 | |||||||||||||
6.800%, 11/22/2025 (B) | 0.0 | 150 | 176 | |||||||||||||
6.800%, 11/22/2025 | 0.1 | 710 | 831 | |||||||||||||
6.025%, 07/05/2022 (B) | 0.1 | 750 | 830 | |||||||||||||
5.450%, 11/22/2017 (B) | 0.0 | 300 | 326 | |||||||||||||
VTB Bank Via VTB Capital | ||||||||||||||||
6.875%, 05/29/2018 | 0.1 | 500 | 551 | |||||||||||||
6.551%, 10/13/2020 (B) | 0.1 | 860 | 944 | |||||||||||||
6.315%, 02/22/2018 | 0.1 | 762 | 826 | |||||||||||||
6.250%, 06/30/2035 | 0.0 | 357 | 386 | |||||||||||||
6.000%, 04/12/2017 (B) | 0.0 | 300 | 321 | |||||||||||||
Other Securities | 1.3 | 17,188 | ||||||||||||||
|
| |||||||||||||||
126,711 | ||||||||||||||||
|
| |||||||||||||||
Saudi Arabia — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 879 | ||||||||||||||
|
| |||||||||||||||
Senegal — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 1,126 | ||||||||||||||
|
| |||||||||||||||
Serbia — 0.2% |
| |||||||||||||||
Other Securities | 0.2 | 2,035 | ||||||||||||||
|
| |||||||||||||||
Singapore — 0.2% |
| |||||||||||||||
Other Securities | 0.2 | 2,894 | ||||||||||||||
|
| |||||||||||||||
Slovak Republic — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 1,363 | ||||||||||||||
|
| |||||||||||||||
Slovenia — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 630 | ||||||||||||||
|
| |||||||||||||||
South Africa — 6.2% |
| |||||||||||||||
Republic of South Africa | ||||||||||||||||
13.500%, 09/15/2015 | 0.2 | ZAR | 15,650 | 2,006 | ||||||||||||
10.500%, 12/21/2026 | 0.6 | ZAR | 56,410 | 7,762 | ||||||||||||
8.750%, 02/28/2048 | 0.1 | ZAR | 15,200 | 1,727 |
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
8.500%, 06/23/2017 | 0.1 | % | 860 | $ | 1,065 | |||||||||||
8.250%, 09/15/2017 | 0.2 | ZAR | 17,430 | 2,062 | ||||||||||||
8.000%, 12/21/2018 | 1.4 | ZAR | 149,080 | 17,577 | ||||||||||||
7.750%, 02/28/2023 | 1.0 | ZAR | 106,517 | 12,317 | ||||||||||||
7.250%, 01/15/2020 | 0.2 | ZAR | 26,500 | 3,007 | ||||||||||||
7.000%, 02/28/2031 | 0.5 | ZAR | 62,602 | 6,216 | ||||||||||||
6.875%, 05/27/2019 | 0.3 | 2,673 | 3,254 | |||||||||||||
6.750%, 03/31/2021 | 0.8 | ZAR | 90,950 | 10,014 | ||||||||||||
6.500%, 02/28/2041 | 0.1 | ZAR | 15,600 | 1,374 | ||||||||||||
6.250%, 03/31/2036 | 0.1 | ZAR | 14,660 | 1,276 | ||||||||||||
6.250%, 03/08/2041 | 0.1 | 609 | 738 | |||||||||||||
5.875%, 05/30/2022 | 0.1 | 670 | 786 | |||||||||||||
5.500%, 03/09/2020 | 0.0 | 540 | 617 | |||||||||||||
4.665%, 01/17/2024 | 0.1 | 1,500 | 1,605 | |||||||||||||
Transnet SOC | ||||||||||||||||
4.000%, 07/26/2022 (B) | 0.1 | 1,119 | 1,071 | |||||||||||||
Other Securities | 0.2 | 2,464 | ||||||||||||||
|
| |||||||||||||||
76,938 | ||||||||||||||||
|
| |||||||||||||||
South Korea — 0.0% |
| |||||||||||||||
Other Securities | 0.0 | 500 | ||||||||||||||
|
| |||||||||||||||
Spain — 0.0% |
| |||||||||||||||
Ajecorp | ||||||||||||||||
6.500%, 05/14/2022 (B) | 0.0 | 250 | 269 | |||||||||||||
|
| |||||||||||||||
Sri Lanka — 0.2% |
| |||||||||||||||
Other Securities | 0.2 | 1,894 | ||||||||||||||
|
| |||||||||||||||
Supra-National — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 1,122 | ||||||||||||||
|
| |||||||||||||||
Thailand — 2.5% |
| |||||||||||||||
Thailand Government Bond | ||||||||||||||||
5.670%, 03/13/2028 | 0.0 | THB | 3,000 | 122 | ||||||||||||
3.875%, 06/13/2019 | 0.1 | THB | 35,781 | 1,262 | ||||||||||||
3.775%, 06/25/2032 | 0.1 | THB | 29,000 | 951 | ||||||||||||
3.650%, 12/17/2021 | 0.6 | THB | 206,180 | 7,128 | ||||||||||||
3.625%, 05/22/2015 | 0.6 | THB | 217,440 | 7,540 | ||||||||||||
3.625%, 06/16/2023 | 0.1 | THB | 59,409 | 2,037 | ||||||||||||
3.580%, 12/17/2027 | 0.1 | THB | 29,010 | 962 | ||||||||||||
3.250%, 06/16/2017 | 0.2 | THB | 81,910 | 2,817 | ||||||||||||
2.800%, 10/10/2017 | 0.3 | THB | 103,000 | 3,473 | ||||||||||||
1.200%, 07/14/2021 | 0.4 | THB | 141,396 | 4,986 | ||||||||||||
Other Securities | 0.0 | 209 | ||||||||||||||
|
| |||||||||||||||
31,487 | ||||||||||||||||
|
| |||||||||||||||
Turkey — 6.6% |
| |||||||||||||||
Export Credit Bank of Turkey | ||||||||||||||||
5.875%, 04/24/2019 (B) | 0.0 | 200 | 222 | |||||||||||||
Republic of Turkey | ||||||||||||||||
11.875%, 01/15/2030 | 0.1 | 460 | 840 | |||||||||||||
10.000%, 12/04/2013 | 0.1 | TRY | 1,200 | 680 | ||||||||||||
9.500%, 01/12/2022 | 0.2 | TRY | 4,346 | 2,791 |
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 21 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
Emerging Markets Debt Fund (Continued)
March 31, 2013
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||||
9.000%, 03/05/2014 | 0.1 | % | TRY | 1,790 | $ | 1,014 | ||||||||||
9.000%, 05/21/2014 | 0.3 | TRY | 6,830 | 4,145 | ||||||||||||
9.000%, 01/27/2016 | 0.1 | TRY | 2,200 | 1,296 | ||||||||||||
9.000%, 03/08/2017 | 0.6 | TRY | 12,272 | 7,373 | ||||||||||||
8.500%, 09/14/2022 | 0.3 | TRY | 5,444 | 3,317 | ||||||||||||
8.000%, 02/14/2034 | 0.2 | 1,976 | 2,717 | |||||||||||||
7.500%, 09/24/2014 | 0.2 | TRY | 4,070 | 2,288 | ||||||||||||
7.500%, 09/24/2014 | 0.1 | TRY | 2,110 | 1,186 | ||||||||||||
7.500%, 07/14/2017 | 0.1 | 1,309 | 1,561 | |||||||||||||
7.500%, 11/07/2019 | 0.4 | 3,400 | 4,242 | |||||||||||||
7.375%, 02/05/2025 | 0.1 | 1,271 | 1,624 | |||||||||||||
7.250%, 03/05/2038 | 0.1 | 400 | 517 | |||||||||||||
7.100%, 03/08/2023 | 0.1 | TRY | 2,100 | 1,157 | ||||||||||||
7.000%, 09/26/2016 | 0.1 | 738 | 849 | |||||||||||||
7.000%, 03/11/2019 | 0.0 | 240 | 290 | |||||||||||||
7.000%, 06/05/2020 | 0.0 | 410 | 503 | |||||||||||||
6.875%, 03/17/2036 | 0.1 | 1,213 | 1,495 | |||||||||||||
6.750%, 04/03/2018 | 0.4 | 4,534 | 5,350 | |||||||||||||
6.750%, 05/30/2040 | 0.0 | 375 | 463 | |||||||||||||
6.500%, 01/07/2015 | 0.4 | TRY | 8,060 | 4,468 | ||||||||||||
6.250%, 09/26/2022 | 0.1 | 740 | 877 | |||||||||||||
6.000%, 01/14/2041 | 0.1 | 1,002 | 1,122 | |||||||||||||
5.625%, 03/30/2021 | 0.0 | 390 | 445 | |||||||||||||
5.125%, 03/25/2022 | 0.2 | 2,288 | 2,517 | |||||||||||||
4.500%, 02/11/2015 | 0.3 | TRY | 6,672 | 3,977 | ||||||||||||
4.000%, 04/29/2015 | 0.3 | TRY | 6,715 | 3,982 | ||||||||||||
4.000%, 04/01/2020 | 0.2 | TRY | 3,341 | 2,187 | ||||||||||||
3.250%, 03/23/2023 | 0.3 | 4,193 | 3,952 | |||||||||||||
3.000%, 02/23/2022 | 0.7 | TRY | 13,216 | 8,360 | ||||||||||||
2.692%, 07/17/2013 (C) | 0.2 | TRY | 3,753 | 2,036 | ||||||||||||
Turkiye Garanti Bankasi | ||||||||||||||||
7.375%, 03/07/2018 | 0.1 | TRY | 1,530 | 826 | ||||||||||||
5.250%, 09/13/2022 (B) | 0.0 | 200 | 208 | |||||||||||||
4.000%, 09/13/2022 | 0.0 | 270 | 277 | |||||||||||||
Other Securities | 0.0 | 265 | ||||||||||||||
|
| |||||||||||||||
81,419 | ||||||||||||||||
|
| |||||||||||||||
Ukraine — 1.9% |
| |||||||||||||||
Financing of Infrastrucural Projects State Enterprise | ||||||||||||||||
9.000%, 12/07/2017 (B) (E) | 0.0 | 400 | 414 | |||||||||||||
Government of Ukraine | ||||||||||||||||
9.250%, 07/24/2017 | 0.2 | 1,850 | 2,003 | |||||||||||||
9.250%, 07/24/2017 (B) | 0.1 | 1,353 | 1,461 | |||||||||||||
7.950%, 02/23/2021 (B) | 0.0 | 250 | 260 | |||||||||||||
7.950%, 02/23/2021 | 0.0 | 450 | 468 | |||||||||||||
7.800%, 11/28/2022 (B) | 0.1 | 1,172 | 1,187 | |||||||||||||
7.800%, 11/28/2022 | 0.1 | 1,760 | 1,782 | |||||||||||||
7.750%, 09/23/2020 | 0.1 | 555 | 577 | |||||||||||||
6.250%, 06/17/2016 (B) | 0.1 | 600 | 587 | |||||||||||||
6.250%, 06/17/2016 | 0.0 | 200 | 196 | |||||||||||||
National Naftogaz of Ukraine | ||||||||||||||||
9.500%, 09/30/2014 | 0.2 | 2,335 | 2,396 | |||||||||||||
Oschadbank Via SSB No. 1 | ||||||||||||||||
8.250%, 03/10/2016 | 0.0 | 430 | 424 |
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands) | Market Value ($ Thousands) | |||||||||||
State Export-Import Bank of Ukraine JSC via Biz Finance | ||||||||||||||
8.750%, 01/22/2018 | 0.1 | % | 870 | $ | 877 | |||||||||
Ukreximbank Via Biz Finance | ||||||||||||||
8.375%, 04/27/2015 | 0.3 | 4,142 | 4,204 | |||||||||||
Other Securities | 0.6 | 7,239 | ||||||||||||
|
| |||||||||||||
24,075 | ||||||||||||||
|
| |||||||||||||
United Arab Emirates — 0.9% | ||||||||||||||
Emirates Airline | ||||||||||||||
5.125%, 06/08/2016 | 0.0 | 300 | 315 | |||||||||||
4.500%, 02/28/2025 | 0.0 | 350 | 343 | |||||||||||
Other Securities | 0.9 | 11,032 | ||||||||||||
|
| |||||||||||||
11,690 | ||||||||||||||
|
| |||||||||||||
United States — 0.2% | ||||||||||||||
Other Securities | 0.2 | 2,694 | ||||||||||||
|
| |||||||||||||
Uruguay — 0.6% | ||||||||||||||
Other Securities | 0.6 | 7,026 | ||||||||||||
|
| |||||||||||||
Venezuela — 3.1% | ||||||||||||||
Petroleos de Venezuela | ||||||||||||||
12.750%, 02/17/2022 | 0.0 | 290 | 328 | |||||||||||
8.500%, 11/02/2017 | 0.1 | 900 | 875 | |||||||||||
8.500%, 11/02/2017 | 0.1 | 877 | 852 | |||||||||||
5.500%, 04/12/2037 | 0.0 | 550 | 373 | |||||||||||
5.375%, 04/12/2027 | 0.1 | 1,498 | 1,033 | |||||||||||
5.250%, 04/12/2017 | 0.1 | 948 | 822 | |||||||||||
5.000%, 10/28/2015 | 0.0 | 560 | 517 | |||||||||||
4.900%, 10/28/2014 | 0.8 | 10,770 | 10,366 | |||||||||||
Republic of Venezuela | ||||||||||||||
13.625%, 08/15/2018 | 0.2 | 2,100 | 2,452 | |||||||||||
13.625%, 08/15/2018 | 0.0 | 144 | 162 | |||||||||||
12.750%, 08/23/2022 | 0.6 | 6,213 | 7,247 | |||||||||||
11.950%, 08/05/2031 | 0.2 | 2,278 | 2,563 | |||||||||||
11.750%, 10/21/2026 | 0.4 | 4,201 | 4,648 | |||||||||||
10.750%, 09/19/2013 | 0.0 | 190 | 194 | |||||||||||
9.250%, 05/07/2028 | 0.1 | 612 | 586 | |||||||||||
9.250%, 09/15/2027 | 0.1 | 958 | 943 | |||||||||||
9.000%, 05/07/2023 | 0.0 | 30 | 29 | |||||||||||
9.000%, 05/07/2023 | 0.1 | 1,024 | 980 | |||||||||||
8.500%, 10/08/2014 | 0.0 | 456 | 463 | |||||||||||
8.250%, 10/13/2024 | 0.0 | 520 | 472 | |||||||||||
7.750%, 10/13/2019 | 0.1 | 1,153 | 1,078 | |||||||||||
7.650%, 04/21/2025 | 0.0 | 300 | 263 | |||||||||||
7.000%, 03/31/2038 | 0.0 | 80 | 63 | |||||||||||
6.000%, 12/09/2020 | 0.1 | 1,047 | 872 | |||||||||||
|
| |||||||||||||
38,181 | ||||||||||||||
|
| |||||||||||||
Vietnam — 0.1% | ||||||||||||||
Other Securities | 0.1 | 1,534 | ||||||||||||
|
|
22 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Description | Percentage of Net Assets (%) | Face Amount (1) (Thousands)/Shares | Market Value ($ Thousands) | |||||||||||||
Zambia — 0.0% |
| |||||||||||||||
Other Securities | 0.0 | % | $ | 248 | ||||||||||||
|
| |||||||||||||||
Total Global Bonds |
| 1,123,576 | ||||||||||||||
|
| |||||||||||||||
LOAN PARTICIPATIONS — 1.4% |
| |||||||||||||||
Angola — 0.1% | ||||||||||||||||
Other Securities | 0.1 | 923 | ||||||||||||||
|
| |||||||||||||||
Indonesia — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 1,708 | ||||||||||||||
|
| |||||||||||||||
Mexico — 0.5% |
| |||||||||||||||
Other Securities | 0.5 | 5,935 | ||||||||||||||
|
| |||||||||||||||
Singapore — 0.6% |
| |||||||||||||||
Other Securities | 0.6 | 7,156 | ||||||||||||||
|
| |||||||||||||||
United Arab Emirates — 0.1% |
| |||||||||||||||
Dubai World | ||||||||||||||||
1.000%, 09/30/15 | 0.1 | 1,200 | 696 | |||||||||||||
1.000%, 09/30/18 | 0.0 | 1,008 | 544 | |||||||||||||
|
| |||||||||||||||
1,240 | ||||||||||||||||
|
| |||||||||||||||
Total Loan Participations |
| 16,962 | ||||||||||||||
|
| |||||||||||||||
CONVERTIBLE BONDS — 0.1% |
| |||||||||||||||
Other Securities | 0.1 | 1,054 | ||||||||||||||
|
| |||||||||||||||
Total Convertible Bonds |
| 1,054 | ||||||||||||||
|
| |||||||||||||||
AFFILIATED PARTNERSHIP — 0.1% |
| |||||||||||||||
SEI Liquidity Fund, L.P. | ||||||||||||||||
0.120% * (F) | 0.1 | 1,427,291 | 1,427 | |||||||||||||
|
| |||||||||||||||
Total Affiliated Partnership |
| 1,427 | ||||||||||||||
|
| |||||||||||||||
TIME DEPOSITS — 12.5% |
| |||||||||||||||
United States — 12.5% |
| |||||||||||||||
Brown Brothers Harriman | ||||||||||||||||
4.150%, 04/01/2013 | ZAR | 7 | 1 | |||||||||||||
0.030%, 04/01/2013 | 155,248 | 155,248 | ||||||||||||||
0.010%, 04/01/2013 | SGD | — | — | |||||||||||||
(0.028)%, 04/01/2013 | EUR | 215 | 275 | |||||||||||||
|
| |||||||||||||||
Total Time Deposits |
| 155,524 | ||||||||||||||
|
| |||||||||||||||
Total Investments — 104.5% |
| $ | 1,298,543 | |||||||||||||
|
|
Description | Percentage of Net Assets (%) | Contracts | Market Value ($ Thousands) | |||||||||
PURCHASED OPTIONS — 0.1% | ||||||||||||
Euro FX Currency Put Option, Expires 09/21/13, Strike Price $1.27 ** | 9,800,000 | $ | 278 | |||||||||
Euro FX Currency Put Option, Expires 07/20/13, Strike Price $1.31 ** | 9,180,000 | 399 | ||||||||||
|
| |||||||||||
Total Purchased Options | $ | 677 | ||||||||||
|
|
A list of the open forward foreign currency contracts held by the Fund at March 31, 2013, is as follows:
Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) ($ Thousands) | |||||||||||||||||
04/02/2013-04/15/2013 | IDR | 39,217,734 | USD | 4,033 | $ | 3 | ||||||||||||||
04/02/2013-04/15/2013 | USD | 1,846 | IDR | 17,932,682 | (2 | ) | ||||||||||||||
04/02/2013-05/03/2013 | BRL | 72,035 | USD | 36,045 | 452 | |||||||||||||||
04/02/2013-05/03/2013 | USD | 39,966 | BRL | 80,203 | (343 | ) | ||||||||||||||
04/03/2013-04/17/2013 | USD | 1,531 | NGN | 244,085 | 3 | |||||||||||||||
04/03/2013-04/22/2013 | EUR | 18,808 | USD | 24,549 | 441 | |||||||||||||||
04/08/2013-04/15/2013 | MYR | 25,045 | USD | 8,086 | 2 | |||||||||||||||
04/08/2013-04/19/2013 | COP | 13,743,502 | USD | 7,589 | 67 | |||||||||||||||
04/08/2013-04/19/2013 | USD | 4,413 | COP | 8,005,050 | (30 | ) | ||||||||||||||
04/08/2013-05/31/2013 | USD | 26,482 | RUB | 811,402 | (500 | ) | ||||||||||||||
04/08/2013-05/31/2013 | USD | 5,844 | ZAR | 53,196 | (73 | ) | ||||||||||||||
04/08/2013-05/31/2013 | ZAR | 94,901 | USD | 10,510 | 258 | |||||||||||||||
04/08/2013-06/10/2013 | PLN | 62,981 | USD | 19,835 | 563 | |||||||||||||||
04/08/2013-06/10/2013 | USD | 13,717 | PLN | 43,882 | (290 | ) | ||||||||||||||
04/08/2013-06/14/2013 | MXN | 159,491 | USD | 12,692 | (195 | ) | ||||||||||||||
04/08/2013-06/14/2013 | USD | 22,804 | MXN | 289,984 | 614 | |||||||||||||||
04/08/2013-06/18/2013 | USD | 21,241 | MYR | 65,855 | (8 | ) | ||||||||||||||
04/08/2013-06/28/2013 | RUB | 794,708 | USD | 25,733 | 308 | |||||||||||||||
04/10/2013-05/31/2013 | TRY | 6,255 | USD | 3,427 | (5 | ) | ||||||||||||||
04/11/2013 | KRW | 5,763,165 | USD | 5,285 | 106 | |||||||||||||||
04/11/2013 | USD | 5,390 | KRW | 5,763,165 | (211 | ) | ||||||||||||||
04/12/2013 | THB | 35,716 | USD | 1,200 | (19 | ) | ||||||||||||||
04/12/2013-06/14/2013 | USD | 13,343 | THB | 402,387 | 375 | |||||||||||||||
04/15/2013 | INR | 925,439 | USD | 16,909 | (73 | ) | ||||||||||||||
04/15/2013 | USD | 2,347 | EUR | 1,821 | (13 | ) | ||||||||||||||
04/15/2013 | USD | 4,960 | INR | 268,795 | (28 | ) | ||||||||||||||
04/15/2013-04/22/2013 | GBP | 963 | USD | 1,453 | (10 | ) | ||||||||||||||
04/19/2013 | CLP | 331,085 | USD | 699 | (2 | ) | ||||||||||||||
04/19/2013-05/17/2013 | USD | 1,120 | PEI | 2,899 | (1 | ) | ||||||||||||||
04/25/2013-05/15/2013 | PHP | 238,277 | USD | 5,832 | (15 | ) | ||||||||||||||
04/25/2013-05/15/2013 | USD | 4,666 | PHP | 189,870 | (7 | ) | ||||||||||||||
04/25/2013-05/31/2013 | USD | 3,343 | RON | 11,244 | (97 | ) | ||||||||||||||
04/30/2013 | CZK | 491 | USD | 26 | 1 | |||||||||||||||
04/30/2013 | HUF | 1,090,061 | USD | 4,886 | 308 | |||||||||||||||
04/30/2013-05/31/2013 | RON | 6,352 | USD | 1,879 | 46 | |||||||||||||||
05/24/2013-05/28/2013 | CNY | 7,762 | USD | 1,233 | (12 | ) | ||||||||||||||
05/31/2013 | USD | 729 | HUF | 163,606 | (45 | ) | ||||||||||||||
05/31/2013 | USD | 4,872 | TRY | 8,851 | (16 | ) | ||||||||||||||
06/05/2013-07/17/2015 | CNH | 207,377 | USD | 31,745 | (1,423 | ) | ||||||||||||||
06/05/2013-07/17/2015 | USD | 31,684 | CNH | 207,377 | 1,486 | |||||||||||||||
06/24/2013 | TWD | 166,061 | USD | 5,604 | 40 | |||||||||||||||
09/18/2013-10/03/2013 | USD | 950 | ARS | 6,136 | 2 | |||||||||||||||
|
| |||||||||||||||||||
$ | 1,657 | |||||||||||||||||||
|
|
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 23 |
Table of Contents
SUMMARY SCHEDULE OF INVESTMENTS (Unaudited)
Emerging Markets Debt Fund (Concluded)
March 31, 2013
A list of the counterparties for the open forward foreign currency contracts held by the Fund at March 31, 2013, is as follows:
Counterparty | Settlement Date | Currency to Deliver ($ Thousands) | Currency to Receive ($ Thousands) | Unrealized Appreciation (Depreciation) ($ Thousands) | ||||||||
Bank of America | 04/02/2013-05/31/2013 | (24,907) | 25,214 | $ | 307 | |||||||
Barclays PLC | 04/02/2013-07/25/2013 | (42,202) | 42,167 | (35 | ) | |||||||
Brown Brothers Harriman | 04/19/2013 | (547) | 540 | (7 | ) | |||||||
Citigroup | 04/02/2013-10/03/2013 | (104,753) | 104,836 | 83 | ||||||||
Credit Suisse First Boston | 04/30/2013-09/18/2013 | (3,070) | 3,069 | (1 | ) | |||||||
Deutsche Bank | 04/15/2013-06/18/2013 | (49,510) | 50,346 | 836 | ||||||||
Goldman Sachs | 04/02/2013-06/14/2013 | (5,747) | 5,767 | 20 | ||||||||
HSBC | 04/02/2013-07/17/2015 | (103,755) | 103,710 | (45 | ) | |||||||
ING | 04/02/2013-04/15/2013 | (46,661) | 46,570 | (91 | ) | |||||||
JPMorgan Chase Bank | 04/02/2013-06/24/2013 | (33,794) | 34,226 | 432 | ||||||||
Standard New York, Inc. | 04/02/2013-04/15/2013 | (7,210) | 7,368 | 158 | ||||||||
UBS | 04/15/2013-09/27/2013 | (14,739) | 14,739 | — | ||||||||
|
| |||||||||||
$ | 1,657 | |||||||||||
|
|
For the six months ended March 31, 2013, 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 period.
A list of outstanding swap agreements held by the fund at March 31, 2013, is as follows:
Interest Rate Swaps | ||||||||||||||||||
Counterparty | Fund Pays | Fund Receives | Termination Date | Currency | Notional Amount (Thousands) | Net Unrealized Appreciation (Depreciation) ($ Thousands) | ||||||||||||
Barclays Bank PLC | Singapore Swap Offer Rate Fixing 6 Month | 2.54% | 12/14/2032 | SGD | 461 | $ | (11 | ) | ||||||||||
Barclays Bank PLC | Singapore Swap Offer Rate Fixing 6 Month | 2.77% | 06/14/2032 | SGD | 2,220 | 31 | ||||||||||||
Barclays Bank PLC | 1.71% | Singapore Swap Offer Rate Fixing 6 Month | 12/14/2022 | SGD | 804 | 4 | ||||||||||||
Barclays Bank PLC | 1.86% | Singapore Swap Offer Rate Fixing 6 Month | 06/14/2022 | SGD | 3,830 | (44 | ) | |||||||||||
Barclays Bank PLC | Brazil Interbank Deposit Rate | 8.27% | 01/02/2017 | BRL | 3,774 | (65 | ) | |||||||||||
HSBC | Brazil Interbank Deposit Rate | 8.27% | 01/02/2017 | BRL | 2,330 | (40 | ) | |||||||||||
HSBC | Brazil Interbank Deposit Rate | 8.31% | 01/02/2017 | BRL | 6,488 | (110 | ) | |||||||||||
HSBC | Brazil Interbank Deposit Rate | 8.32% | 01/02/2015 | BRL | 6,369 | (5 | ) | |||||||||||
|
| |||||||||||||||||
$ | (240 | ) | ||||||||||||||||
|
|
Total Return Swaps | ||||||||||||||||||||||
Counterparty | Reference Entity/Obligation | Fund Pays | Fund Receives | Termination Date | Currency | Notional Amount (Thousands) | Net Unrealized Appreciation (Depreciation) ($ Thousands) | |||||||||||||||
Standard Chartered London | India Government Bond 8.07% 7/3/2017 | Cash Deposit Of Notional Amount | Price Return | 07/03/2017 | INR | 69,890 | $ | 29 | ||||||||||||||
Standard Chartered London | India Government Bond 8.07% 7/3/2017 | Cash Deposit Of Notional Amount | Price Return | 07/03/2017 | INR | 199,110 | 73 | |||||||||||||||
HSBC | Republic of Indonesia, 11.500%, 9/15/2019 | Cash Deposit Of Notional Amount | Price Return | 09/15/2019 | IDR | 33,200,000 | (138 | ) | ||||||||||||||
HSBC | Republic of Indonesia, 11.500%, 9/15/2019 | Cash Deposit Of Notional Amount | Price Return | 09/15/2019 | IDR | 4,500,000 | (18 | ) | ||||||||||||||
Standard Chartered London | India Government Bond 8.19% 01/16/2020 | Cash Deposit Of Notional Amount | Price Return | 01/16/2020 | INR | 124,000 | 33 | |||||||||||||||
Standard Chartered London | India Government Bond 8.15% 06/11/2022 | Cash Deposit Of Notional Amount | Price Return | 06/11/2022 | INR | 96,000 | 64 | |||||||||||||||
Standard Chartered London | India Government Bond 8.15% 06/11/2022 | Cash Deposit Of Notional Amount | Price Return | 06/11/2022 | INR | 37,000 | 25 | |||||||||||||||
Standard Chartered London | India Government Bond 8.33% 09/07/2026 | Cash Deposit Of Notional Amount | Price Return | 07/09/2026 | INR | 113,000 | (11 | ) | ||||||||||||||
HSBC | Republic of Indonesia, 8.375%, 9/15/2026 | Cash Deposit Of Notional Amount | Price Return | 09/15/2026 | IDR | 18,900,000 | (26 | ) | ||||||||||||||
Standard Chartered London | Republic of Indonesia, 7%, 5/15/2027 | Cash Deposit Of Notional Amount | Price Return | 05/15/2027 | IDR | 5,800,000 | 3 | |||||||||||||||
Standard Chartered London | Republic of Indonesia, 7%, 5/15/2027 | Cash Deposit Of Notional Amount | Price Return | 05/15/2027 | IDR | 3,500,000 | 11 | |||||||||||||||
HSBC | Republic of Indonesia, 10.500%, 8/15/2030 | Cash Deposit Of Notional Amount | Price Return | 08/15/2030 | IDR | 29,500,000 | (5 | ) | ||||||||||||||
Standard Chartered London | Republic of Indonesia, 10.5%, 8/15/2030 | Cash Deposit Of Notional Amount | Price Return | 08/15/2030 | IDR | 10,300,000 | (18 | ) | ||||||||||||||
HSBC | Republic of Indonesia, 8.250%, 6/15/2032 | Cash Deposit Of Notional Amount | Price Return | 06/15/2032 | IDR | 13,100,000 | (3 | ) | ||||||||||||||
Standard Chartered London | Republic of Indonesia, 8.25%, 6/15/2032 | Cash Deposit Of Notional Amount | Price Return | 06/15/2032 | IDR | 6,600,000 | (6 | ) | ||||||||||||||
Standard Chartered London | Republic of Indonesia, 6.625% 05/15/2033 | Cash Deposit Of Notional Amount | Price Return | 05/15/2033 | IDR | 14,000,000 | (14 | ) | ||||||||||||||
HSBC | Republic of Indonesia, 6.625% 05/15/2033 | Cash Deposit Of Notional Amount | Price Return | 05/15/2033 | IDR | 5,000,000 | (2 | ) | ||||||||||||||
|
| |||||||||||||||||||||
$ | (3 | ) | ||||||||||||||||||||
|
|
For the six months ended March 31, 2013, 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 period.
24 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Percentages are based on a Net Assets of $1,243,070 ($ Thousands).
* | Rate shown is the 7-day effective yield as of March 31, 2013. |
** | Non income producing security. |
† | Investment in Affiliated security (See Note 4). |
(1) | In U.S. Dollars unless otherwise indicated. |
(A) | Variable Rate Security—The rate reported on the Summary Schedule of Investments is the rate in effect as of March 31, 2013. |
(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) | Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase. |
(D) | This security or a partial position of this security is on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $1,364 ($ Thousands) (See Note 8). |
(E) | Securities considered illiquid. The total market value of such securities as of March 31, 2013 was $29,510 ($ Thousands) and represented 2.4% of Net Assets. |
(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, 2013 was $1,427 ($ Thousands). |
†† | The Summary Schedule of Investments does not reflect the complete portfolio holdings. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). In certain instances, securities for which footnotes listed above may otherwise apply are included in the Other Securities caption. The complete schedule of portfolio holdings is available (i) without charge, upon request, by calling (800) 342-5734; and (ii) on the SEC’s website at http://www.sec.gov. |
BRL — Brazilian Real
CLN — Credit Linked Note
CLP — Chilean Peso
CNH — Chinese Yuen (Offshore)
CNY — Chinese Renminbi
COP — Colombian Peso
CZK — Czech Koruna
EUR — Euro
GBP — British Pound Sterling
HUF — Hungarian Forint
IDR — Indonesia Rupiah
INR — India Rupee
KRW — Korean Won
MTN — Medium Term Note
MXN — Mexican Peso
MYR — Malaysian Ringgit
NGN — Nigerian Naira
PEI — Peruvian Inca
PHP — Philippine Peso
PLC — Public Limited Company
PLN — Polish Zlotty
RON — Romanian Leu
RUB — Russian Ruble
Ser — Series
THB — Thai Baht
TRY — Turkish Lira
TWD — Taiwan Dollar
USD — U.S. Dollar
ZAR — South African Rand
The following is a summary of the inputs used as of March 31, 2013, 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 | $ | — | $ | 1,123,576 | $ | — | $ | 1,123,576 | ||||||||
Convertible Bonds | — | 1,054 | — | 1,054 | ||||||||||||
Loan Participations | — | 1,240 | 15,722 | 16,962 | ||||||||||||
Affiliated Partnership | — | 1,427 | — | 1,427 | ||||||||||||
Time Deposits | — | 155,524 | — | 155,524 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | — | $ | 1,282,821 | $ | 15,722 | $ | 1,298,543 | ||||||||
|
|
|
|
|
|
|
|
Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Forwards Contracts * | $ | — | $ | 1,657 | $ | — | $ | 1,657 | ||||||||
Interest Rate Swaps * | — | (240 | ) | — | (240 | ) | ||||||||||
Total Return Swaps * | — | (3 | ) | — | (3 | ) | ||||||||||
Purchased Options | — | 677 | — | 677 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | $ | — | $ | 2,091 | $ | — | $ | 2,091 | ||||||||
|
|
|
|
|
|
|
|
Global Bonds | Loan Participations | |||||||
Beginning balance as of October 1, 2012 | $ | 94 | $ | 16,874 | ||||
Accrued discounts/premiums | — | 15 | ||||||
Realized gain/(loss) | — | (257 | ) | |||||
Change in unrealized appreciation/(depreciation) | — | (64 | ) | |||||
Purchases | — | — | ||||||
Sales | — | (846 | ) | |||||
Transfer into Level 3 | — | — | ||||||
Transfer out of Level 3 | (94 | ) | — | |||||
|
|
|
| |||||
Ending balance as of March 31, 2013 | $ | — | $ | 15,722 | ||||
|
|
|
|
(1) | Of the $15,816 ($ Thousands) in Level 3 securities as of March 31, 2013, $7,493 ($ Thousands) or 0.6% 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 not valued by third party pricing vendors or broker quotes. |
* | Forwards contracts and swaps are valued at the unrealized appreciation/(depreciation) on the instrument. |
For the six months ended March 31, 2013, there have been no significant transfers between Level 1 and Level 2 assets and liabilities.
For the six months ended March 31, 2013, there have been no significant transfers between Level 2 and Level 3 assets and liabilities.
Amounts designated as “—�� are $0 or have been rounded to $0.
The accompanying notes are an integral part of the financial statements.
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 25 |
Table of Contents
Statements of Assets and Liabilities ($ Thousands) (Unaudited)
March 31, 2013
International Equity Fund | Emerging Markets Equity Fund | International Fixed Income Fund | Emerging Markets Debt Fund | |||||||||||||
|
|
|
|
|
|
|
|
| ||||||||
ASSETS: | ||||||||||||||||
Investments, at value (Cost $1,804,832, $846,266, $503,000 and $1,242,344, respectively)(1) | $ | 1,944,666 | $ | 952,876 | $ | 506,942 | $ | 1,297,116 | ||||||||
Affiliated investments, at value (Cost $143,675, $24,941, $0 and $1,427, respectively) | 143,675 | 24,941 | — | 1,427 | ||||||||||||
Cash | — | 174 | — | — | ||||||||||||
Foreign currency, at value (Cost $619, $1,380, $0 and $1,803, respectively) | 613 | 1,375 | — | 1,883 | ||||||||||||
Cash pledged as collateral for forward foreign currency contracts, futures contracts or swap contracts | — | — | 555 | 475 | ||||||||||||
Receivable for investment securities sold | 9,613 | 3,955 | 9,906 | 23,509 | ||||||||||||
Unrealized gain on forward foreign currency contracts | — | — | 4,480 | 5,075 | ||||||||||||
Receivable for fund shares sold | 3,220 | 7,360 | 285 | 2,028 | ||||||||||||
Dividends and interest receivable | 5,326 | 1,447 | 5,739 | 17,585 | ||||||||||||
Variation margin receivable | 118 | — | 38 | — | ||||||||||||
Foreign tax reclaim receivable | 1,088 | 100 | — | — | ||||||||||||
Unrealized gain on foreign spot currency contracts | 62 | 3 | 1 | — | ||||||||||||
Options purchased, at value (Cost $0, $0, $0 and $376, respectively) | — | — | — | 677 | ||||||||||||
Swap contracts, at value (Premiums paid $0, $0, $63 and $31,067, respectively) | — | — | 5,941 | 34,206 | ||||||||||||
Total Assets | 2,108,381 | 992,231 | 533,887 | 1,383,981 | ||||||||||||
LIABILITIES: | ||||||||||||||||
Payable for investment securities purchased | 19,577 | 5,420 | 17,152 | 61,583 | ||||||||||||
Payable upon return of securities loaned | 48,765 | 16,319 | — | 1,427 | ||||||||||||
Payable to custodian | 257 | — | 70 | 67,998 | ||||||||||||
Foreign currency payable, at value (Premium received $0, $0, $45 and $0, respectively) | — | — | 46 | — | ||||||||||||
Unrealized loss on forward foreign currency contracts | — | — | 790 | 3,418 | ||||||||||||
Swap contracts, at value (Premiums received $0, $0, $0 and $0, respectively) | — | — | 5,108 | 3,382 | ||||||||||||
Payable for fund shares redeemed | 2,519 | 1,312 | 858 | 1,561 | ||||||||||||
Variation margin payable | 311 | — | 14 | — | ||||||||||||
Unrealized loss on foreign spot currency contracts | 21 | 4 | 5 | — | ||||||||||||
Investment advisory fees payable | 874 | 769 | 128 | 408 | ||||||||||||
Administration fees payable | 779 | 531 | 256 | 684 | ||||||||||||
Shareholder servicing fees payable | 435 | 204 | 28 | 263 | ||||||||||||
Trustees’ fees payable | 7 | 3 | 2 | 5 | ||||||||||||
Chief compliance officer fees payable | 2 | 1 | — | 1 | ||||||||||||
Administration servicing fees payable | 4 | — | — | — | ||||||||||||
Other accrued expenses | 389 | 386 | 100 | 181 | ||||||||||||
Accrued foreign capital gains tax on appreciated securities | — | 191 | — | — | ||||||||||||
Total Liabilities | 73,940 | 25,140 | 24,557 | 140,911 | ||||||||||||
Net Assets | $ | 2,034,441 | $ | 967,091 | $ | 509,330 | $ | 1,243,070 | ||||||||
NET ASSETS: | ||||||||||||||||
Paid in Capital (unlimited authorization — no par value) | $ | 2,911,026 | $ | 992,718 | $ | 528,183 | $ | 1,188,450 | ||||||||
Undistributed (distributions in excess of) net investment income | 6,652 | (5,252 | ) | (34,008 | ) | (28,094 | ) | |||||||||
Accumulated net realized gain (loss) on investments, futures contracts, option contracts, foreign currency contracts and swap contracts | (1,022,732 | ) | (126,771 | ) | 7,712 | 26,161 | ||||||||||
Net unrealized appreciation on investments and option contracts | 139,834 | 106,610 | 3,942 | 55,073 | ||||||||||||
Net unrealized depreciation on futures contracts | (371 | ) | — | (36 | ) | — | ||||||||||
Net unrealized appreciation (deprecation) on swap contracts | — | — | 770 | (243 | ) | |||||||||||
Net unrealized appreciation (depreciation) on forward foreign currency contracts, foreign currencies and translation of other assets and liabilities denominated in foreign currencies | 32 | (23 | ) | 2,767 | 1,723 | |||||||||||
Accumulated foreign capital gains tax on appreciated securities | — | (191 | ) | — | — | |||||||||||
Net Assets | $ | 2,034,441 | $ | 967,091 | $ | 509,330 | $ | 1,243,070 | ||||||||
Net Asset Value, Offering and Redemption Price Per Share — Class ($2,029,088,521 ÷ 230,439,646 shares, $967,090,986 ÷ 89,489,894 shares, $509,330,492 ÷ 48,272,423 shares, $1,243,070,182 ÷ 109,706,800 shares, respectively.) | $8.81 | $10.81 | $10.55 | $11.33 | ||||||||||||
Net Asset Value, Offering and Redemption Price Per Share — Class I ($5,352,548 ÷ 607,950 shares) | $8.80 | N/A | N/A | N/A |
(1) | Included in “Investments, at value” is the market value of securities on loan in the amounts of $42,386, $15,189, $0 and $1,364, ($ Thousands), respectively. |
N/A — Not applicable. Share classes currently not offered.
Amounts designated as “—” are $0 or have been rounded to $0.
The accompanying notes are an integral part of the financial statements.
26 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Statements of Operations ($ Thousands) (Unaudited)
For the six months ended March 31, 2013
International Equity Fund | Emerging Markets Equity Fund | International Fixed Income Fund | Emerging Markets Debt Fund | |||||||||||||
Investment Income: | ||||||||||||||||
Dividends | $ | 19,551 | $ | 5,668 | $ | — | $ | — | ||||||||
Dividends from Affiliated Security(1)(2) | 8 | 1 | — | — | ||||||||||||
Interest | 8 | 2 | 6,085 | 31,380 | ||||||||||||
Security Lending Income — Net(1) | 967 | 303 | — | 1 | ||||||||||||
Less: Foreign Taxes Withheld | (1,213 | ) | (525 | ) | — | (206 | ) | |||||||||
Total Investment Income | 19,321 | 5,449 | 6,085 | 31,175 | ||||||||||||
Expenses: | ||||||||||||||||
Investment Advisory Fees | 4,809 | 4,865 | 743 | 5,139 | ||||||||||||
Administration Fees | 4,285 | 3,012 | 1,486 | 3,929 | ||||||||||||
Shareholder Servicing Fees — Class A | 2,374 | 1,158 | 619 | 1,511 | ||||||||||||
Shareholder Servicing Fees — Class I | 7 | — | — | — | ||||||||||||
Administrative Servicing Fees — Class I | 7 | — | — | — | ||||||||||||
Trustees’ Fees | 15 | 7 | 4 | 9 | ||||||||||||
Chief Compliance Officer Fees | 4 | 2 | 1 | 3 | ||||||||||||
Custodian/Wire Agent Fees | 164 | 323 | 37 | 83 | ||||||||||||
Printing Fees | 113 | 56 | 29 | 73 | ||||||||||||
Overdraft Fees | 2 | 5 | 2 | 5 | ||||||||||||
Professional Fees | 75 | 72 | 20 | 60 | ||||||||||||
Registration Fees | 16 | 12 | 7 | 14 | ||||||||||||
Other Expenses | 67 | 38 | 30 | 45 | ||||||||||||
Total Expenses | 11,938 | 9,550 | 2,978 | 10,871 | ||||||||||||
Less: | ||||||||||||||||
Waiver of Investment Advisory Fees | — | (456 | ) | — | (2,636 | ) | ||||||||||
Waiver of Shareholder Servicing Fees — Class A | — | — | (447 | ) | — | |||||||||||
Fees Paid Indirectly | — | (1 | ) | — | — | |||||||||||
Net Expenses | 11,938 | 9,093 | 2,531 | 8,235 | ||||||||||||
Net Investment Income (Loss) | 7,383 | (3,644 | ) | 3,554 | 22,940 | |||||||||||
Net Realized and Unrealized Gain (Loss) on Investments, Options, Futures Contracts, Swap Contracts and Foreign Currency Transactions: | ||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||
Investments | 35,136 | (14,047 | ) | 3,809 | 11,684 | |||||||||||
Futures Contracts | 4,612 | — | 431 | (7 | ) | |||||||||||
Swap Contracts | — | — | 662 | 6,657 | ||||||||||||
Foreign Currency Transactions | (1,394 | ) | (267 | ) | 18,825 | 10,651 | ||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||
Investments | 118,057 | 69,845 | (21,896 | ) | (19,573 | ) | ||||||||||
Affiliated Investments | 2,086 | 1,262 | — | — | ||||||||||||
Futures Contracts | 649 | — | 87 | (21 | ) | |||||||||||
Options | — | — | — | 301 | ||||||||||||
Swap Contracts | — | — | (634 | ) | (1,884 | ) | ||||||||||
Foreign Capital Gains Tax on Appreciated Securities | — | 104 | — | — | ||||||||||||
Foreign Currency Transactions | 349 | (69 | ) | 5,479 | (1,267 | ) | ||||||||||
Net Realized and Unrealized Gain on Investments, Options, Futures Contracts, Swap Contracts and Foreign Currency Transactions | 159,495 | 56,828 | 6,763 | 6,541 | ||||||||||||
Net Increase in Net Assets Resulting from Operations | $ | 166,878 | $ | 53,184 | $ | 10,317 | $ | 29,481 |
(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 $0.
The accompanying notes are an integral part of the financial statements.
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 27 |
Table of Contents
Statements of Changes in Net Assets ($ Thousands)
For the six months ended March 31, 2013 (Unaudited) and the year ended September 31, 2012
International Equity Fund | Emerging Markets Equity Fund | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income (Loss) | $ | 7,383 | $ | 30,343 | $ | (3,644 | ) | $ | 4,128 | |||||||
Net Realized Gain (Loss) from Investments, Affiliated Investments, Futures Contracts, Options and Swap Contracts | 39,748 | (40,129 | ) | (14,047 | ) | (70,342 | ) | |||||||||
Net Realized Gain (Loss) on Forward Foreign Currency Contracts and Foreign Currency Transactions | (1,394 | ) | 371 | (267 | ) | (1,087 | ) | |||||||||
Net Change in Unrealized Appreciation on Investments, Affiliated Investments, Futures Contracts, Options and Swap Contracts | 120,792 | 240,217 | 71,107 | 170,092 | ||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Foreign Capital Tax Gains on Appreciated Securities | — | — | 104 | (292 | ) | |||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Forward Foreign Currency Contracts, Foreign Currencies, and Translation of Other Assets and Liabilities Denominated in Foreign Currencies | 349 | (362 | ) | (69 | ) | 184 | ||||||||||
Net Increase in Net Assets Resulting from Operations | 166,878 | 230,440 | 53,184 | 102,683 | ||||||||||||
Dividends from: | ||||||||||||||||
Net Investment Income: | ||||||||||||||||
Class A | (29,890 | ) | (34,665 | ) | (4,998 | ) | (2,183 | ) | ||||||||
Class I | (72 | ) | (96 | ) | — | — | ||||||||||
Total Dividends | (29,962 | ) | (34,761 | ) | (4,998 | ) | (2,183 | ) | ||||||||
Capital Share Transactions: | ||||||||||||||||
Class A: | ||||||||||||||||
Proceeds from Shares Issued | 263,661 | 568,731 | (1) | 132,841 | 298,296 | |||||||||||
Reinvestment of Dividends & Distributions | 27,440 | 32,156 | 4,533 | 2,014 | ||||||||||||
Cost of Shares Redeemed | (241,378 | ) | (519,994 | ) | (118,199 | ) | (196,578 | ) | ||||||||
Increase in Net Assets Derived from Class A Transactions | 49,723 | 80,893 | 19,175 | 103,732 | ||||||||||||
Class I: | ||||||||||||||||
Proceeds from Shares Issued | 488 | 1,307 | (1) | — | — | |||||||||||
Reinvestment of Dividends & Distributions | 47 | 67 | — | — | ||||||||||||
Cost of Shares Redeemed | (855 | ) | (1,982 | ) | — | — | ||||||||||
Decrease in Net Assets Derived from Class I Transactions | (320 | ) | (608 | ) | — | — | ||||||||||
Increase in Net Assets Derived from Capital Share Transactions | 49,403 | 80,285 | 19,175 | 103,732 | ||||||||||||
Net Increase in Net Assets | 186,319 | 275,964 | 67,361 | 204,232 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Period | 1,848,122 | 1,572,158 | 899,730 | 695,498 | ||||||||||||
End of Period | $ | 2,034,441 | $ | 1,848,122 | $ | 967,091 | $ | 899,730 | ||||||||
Undistributed (Distributions in Excess of) Net Investment Income Included in Net Assets at End of Period | $ | 6,652 | $ | 29,231 | $ | (5,252 | ) | $ | 3,390 | |||||||
Share Transactions: | ||||||||||||||||
Class A: | ||||||||||||||||
Shares Issued | 30,797 | 72,568 | 12,436 | 30,168 | ||||||||||||
Reinvestment of Distributions | 3,244 | 4,334 | 426 | 215 | ||||||||||||
Shares Redeemed | (28,644 | ) | (66,704 | ) | (11,170 | ) | (19,866 | ) | ||||||||
Total Class A Transactions | 5,397 | 10,198 | 1,692 | 10,517 | ||||||||||||
Class I: | ||||||||||||||||
Shares Issued | 57 | 166 | — | — | ||||||||||||
Reinvestment of Distributions | 6 | 9 | — | — | ||||||||||||
Shares Redeemed | (100 | ) | (254 | ) | — | — | ||||||||||
Total Class I Transactions | (37 | ) | (79 | ) | — | — | ||||||||||
Net Increase in Shares Outstanding from Share Transactions | 5,360 | 10,119 | 1,692 | 10,517 |
(1) | See Note 10 in Notes to Financial Statements. |
Amounts designated as “—” are $0 or have been rounded to $0.
The accompanying notes are an integral part of the financial statements.
28 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Statements of Changes in Net Assets ($ Thousands) (Continued)
For the six months ended March 31, 2013 (Unaudited) and the year ended September 30, 2012
International Fixed Income Fund | Emerging Markets Debt Fund | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income | $ | 3,554 | $ | 7,828 | $ | 22,940 | $ | 48,801 | ||||||||
Net Realized Gain from Investments, Affiliated Investments, Futures Contracts, Options and Swap Contracts | 4,902 | 5,531 | 18,334 | 48,569 | ||||||||||||
Net Realized Gain (Loss) on Forward Foreign Currency Contracts and Foreign Currency Transactions | 18,825 | 16,653 | 10,651 | (810 | ) | |||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments, Affiliated Investments, Futures Contracts, Options and Swap Contracts | (22,443 | ) | 15,233 | (21,177 | ) | 69,712 | ||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Forward Foreign Currency Contracts, Foreign Currencies, and Translation of Other Assets and Liabilities Denominated in Foreign Currencies | 5,479 | (15,591 | ) | (1,267 | ) | 2,058 | ||||||||||
Net Increase in Net Assets Resulting from Operations | 10,317 | 29,654 | 29,481 | 168,330 | ||||||||||||
Dividends and Distributions from: | ||||||||||||||||
Net Investment Income: | ||||||||||||||||
Class A | (21,926 | ) | (12,225 | ) | (59,897 | ) | (53,538 | ) | ||||||||
Net Realized Gains: | ||||||||||||||||
Class A | — | — | (45,779 | ) | (2,001 | ) | ||||||||||
Total Dividends and Distributions | (21,926 | ) | (12,225 | ) | (105,676 | ) | (55,539 | ) | ||||||||
Capital Share Transactions: | ||||||||||||||||
Class A: | ||||||||||||||||
Proceeds from Shares Issued | 74,507 | 92,376 | 232,495 | 446,482 | ||||||||||||
Reinvestment of Dividends & Distributions | 19,825 | 11,251 | 92,135 | 49,190 | ||||||||||||
Cost of Shares Redeemed | (65,186 | ) | (118,192 | ) | (170,467 | ) | (319,757 | ) | ||||||||
Increase (Decrease) in Net Assets Derived from Capital Share Transactions | 29,146 | (14,565 | ) | 154,163 | 175,915 | |||||||||||
Net Increase in Net Assets | 17,537 | 2,864 | 77,968 | 288,706 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Period | 491,793 | 488,929 | 1,165,102 | 876,396 | ||||||||||||
End of Period | $ | 509,330 | $ | 491,793 | $ | 1,243,070 | $ | 1,165,102 | ||||||||
Undistributed (Distributions in excess of) Net Investment Income Included in Net Assets at End of Period | $ | (34,008 | ) | $ | (15,636 | ) | $ | (28,094 | ) | $ | 8,863 | |||||
Share Transactions: | ||||||||||||||||
Class A: | ||||||||||||||||
Shares Issued | 7,003 | 8,800 | 19,804 | 39,221 | ||||||||||||
Reinvestment of Distributions | 1,897 | 1,098 | 7,890 | 4,465 | ||||||||||||
Shares Redeemed | (6,100 | ) | (11,260 | ) | (14,508 | ) | (28,264 | ) | ||||||||
Total Class A Transactions | 2,800 | (1,362 | ) | 13,186 | 15,422 |
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, 2013 | 29 |
Table of Contents
For the six months ended March 31, 2013 (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 (Loss) to Average Net Assets | Portfolio Turnover Rate | ||||||||||||||||||||||||||||||||||||||||||||||
International Equity Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013*** | $ | 8.19 | $ | 0.03 | $ | 0.73 | $ | 0.76 | $ | (0.14 | ) | $ | — | $ | (0.14 | ) | $ | 8.81 | 9.31 | % | $ | 2,029,088 | 1.25 | %(3) | 1.25 | %(3) | 1.25 | %(3) | 0.78 | % | 27 | % | ||||||||||||||||||||||||||||
2012 | 7.29 | 0.14 | 0.92 | 1.06 | (0.16 | ) | — | (0.16 | ) | 8.19 | 14.76 | 1,842,851 | 1.26 | (3) | 1.26 | (3) | 1.26 | (3) | 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 | (3) | 1.27 | (3) | 1.27 | (3) | 1.88 | 98 | |||||||||||||||||||||||||||||||||||||
2010 | 7.88 | 0.10 | 0.36 | 0.46 | — | — | — | 8.34 | 5.84 | 1,898,206 | 1.27 | (3) | 1.27 | (3) | 1.28 | 1.26 | 144 | |||||||||||||||||||||||||||||||||||||||||||
2009 | 8.85 | 0.13 | (0.94 | ) | (0.81 | ) | (0.16 | ) | — | (0.16 | ) | 7.88 | (8.73 | ) | 2,053,411 | 1.28 | (2)(3) | 1.28 | (2)(3) | 1.29 | 2.01 | 154 | ||||||||||||||||||||||||||||||||||||||
2008 | 16.18 | 0.27 | (5.52 | ) | (5.25 | ) | (0.34 | ) | (1.74 | ) | (2.08 | ) | 8.85 | (36.96 | ) | 2,329,504 | 1.25 | (2)(3) | 1.26 | (2)(3) | 1.26 | (2) | 2.15 | 218 | ||||||||||||||||||||||||||||||||||||
Class I |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013*** | $ | 8.18 | $ | 0.02 | $ | 0.71 | $ | 0.73 | $ | (0.11 | ) | $ | — | $ | (0.11 | ) | $ | 8.80 | 9.16 | % | $ | 5,353 | 1.50 | %(3) | 1.50 | %(3) | 1.50 | %(3) | 0.48 | % | 27 | % | ||||||||||||||||||||||||||||
2012 | 7.28 | 0.12 | 0.91 | 1.03 | (0.13 | ) | — | (0.13 | ) | 8.18 | 14.37 | 5,271 | 1.51 | (3) | 1.51 | (3) | 1.51 | (3) | 1.48 | 56 | ||||||||||||||||||||||||||||||||||||||||
2011 | 8.32 | 0.13 | (1.06 | ) | (0.93 | ) | (0.11 | ) | — | (0.11 | ) | 7.28 | (11.44 | ) | 5,265 | 1.52 | (3) | 1.52 | (3) | 1.52 | 1.54 | 98 | ||||||||||||||||||||||||||||||||||||||
2010 | 7.89 | 0.08 | 0.35 | 0.43 | — | — | — | 8.32 | 5.45 | 8,455 | 1.52 | (3) | 1.52 | (3) | 1.53 | 1.00 | 144 | |||||||||||||||||||||||||||||||||||||||||||
2009 | 8.82 | 0.13 | (0.94 | ) | (0.81 | ) | (0.12 | ) | — | (0.12 | ) | 7.89 | (8.80 | ) | 8,397 | 1.53 | (2)(3) | 1.53 | (2)(3) | 1.54 | 1.97 | 154 | ||||||||||||||||||||||||||||||||||||||
2008 | 16.13 | 0.22 | (5.49 | ) | (5.27 | ) | (0.30 | ) | (1.74 | ) | (2.04 | ) | 8.82 | (37.14 | ) | 6,538 | 1.50 | (2)(3) | 1.51 | (2)(3) | 1.51 | (2) | 1.72 | 218 | ||||||||||||||||||||||||||||||||||||
Emerging Markets Equity Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013*** | $ | 10.25 | $ | (0.04 | ) | $ | 0.66 | $ | 0.62 | $ | (0.06 | ) | $ | — | $ | (0.06 | ) | $ | 10.81 | 5.94 | % | $ | 967,091 | 1.96 | %(4) | 1.96 | %(4) | 2.06 | % | (0.79 | )% | 37 | % | |||||||||||||||||||||||||||
2012 | 9.00 | 0.05 | 1.23 | 1.28 | (0.03 | ) | — | (0.03 | ) | 10.25 | 14.21 | 899,730 | 1.97 | (4) | 1.97 | (4) | 2.07 | 0.49 | 93 | |||||||||||||||||||||||||||||||||||||||||
2011 | 11.40 | 0.05 | (2.35 | ) | (2.30 | ) | (0.10 | ) | — | (0.10 | ) | 9.00 | (20.38 | ) | 695,498 | 1.96 | (4) | 1.96 | (4) | 2.09 | 0.44 | 98 | ||||||||||||||||||||||||||||||||||||||
2010 | 9.64 | 0.04 | 1.78 | 1.82 | (0.06 | ) | — | (0.06 | ) | 11.40 | 18.93 | 935,583 | 1.96 | (4) | 1.96 | (4) | 2.09 | 0.38 | 81 | |||||||||||||||||||||||||||||||||||||||||
2009 | 11.43 | 0.08 | 0.18 | 0.26 | (0.10 | ) | (1.95 | ) | (2.05 | ) | 9.64 | 16.40 | 916,780 | 1.97 | (4) | 1.97 | (4) | 2.11 | 1.08 | 80 | ||||||||||||||||||||||||||||||||||||||||
2008 | 21.49 | 0.14 | (5.64 | ) | (5.50 | ) | (0.08 | ) | (4.48 | ) | (4.56 | ) | 11.43 | (33.33 | ) | 965,730 | 1.99 | (4) | 1.99 | (4) | 2.08 | 0.85 | 94 | |||||||||||||||||||||||||||||||||||||
International Fixed Income Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013*** | $ | 10.82 | $ | 0.08 | $ | 0.13 | $ | 0.21 | $ | (0.48 | ) | $ | — | $ | (0.48 | ) | $ | 10.55 | 2.03 | % | $ | 509,330 | 1.02 | %(5) | 1.02 | %(5) | 1.20 | % | 1.43 | % | 37 | % | ||||||||||||||||||||||||||||
2012 | 10.44 | 0.17 | 0.48 | 0.65 | (0.27 | ) | — | (0.27 | ) | 10.82 | 6.34 | 491,793 | 1.02 | (5) | 1.02 | (5) | 1.21 | 1.60 | 103 | |||||||||||||||||||||||||||||||||||||||||
2011 | 10.92 | 0.25 | (0.22 | ) | 0.03 | (0.51 | )(9) | — | (0.51 | ) | 10.44 | 0.41 | 488,929 | 1.02 | (5) | 1.02 | (5) | 1.21 | 2.40 | 119 | ||||||||||||||||||||||||||||||||||||||||
2010 | 10.21 | 0.24 | 0.57 | 0.81 | (0.10 | )(8) | — | (0.10 | ) | 10.92 | 7.97 | 505,081 | 1.07 | (7) | 1.07 | (7) | 1.21 | 2.33 | 135 | |||||||||||||||||||||||||||||||||||||||||
2009 | 10.46 | 0.28 | 0.53 | 0.81 | (1.06 | ) | — | (1.06 | ) | 10.21 | 8.85 | 538,159 | 1.02 | (5) | 1.02 | (5) | 1.06 | 2.86 | 170 | |||||||||||||||||||||||||||||||||||||||||
2008 | 10.91 | 0.37 | (0.68 | ) | (0.31 | ) | (0.14 | ) | — | (0.14 | ) | 10.46 | (2.89 | ) | 703,324 | 1.02 | (5) | 1.02 | (5) | 1.04 | 3.45 | 147 | ||||||||||||||||||||||||||||||||||||||
Emerging Markets Debt Fund |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013*** | $ | 12.07 | $ | 0.22 | $ | 0.08 | $ | 0.30 | $ | (0.58 | ) | $ | (0.46 | ) | $ | (1.04 | ) | $ | 11.33 | 2.54 | % | $ | 1,243,070 | 1.36 | %(6) | 1.36 | %(6) | 1.80 | % | 3.79 | % | 34 | % | |||||||||||||||||||||||||||
2012 | 10.81 | 0.55 | 1.36 | 1.91 | (0.63 | ) | (0.02 | ) | (0.65 | ) | 12.07 | 18.48 | 1,165,102 | 1.36 | (6) | 1.36 | (6) | 1.80 | 4.85 | 102 | ||||||||||||||||||||||||||||||||||||||||
2011 | 11.19 | 0.63 | (0.70 | ) | (0.07 | ) | (0.31 | ) | — | (0.31 | ) | 10.81 | (0.71 | ) | 876,396 | 1.36 | (6) | 1.36 | (6) | 1.80 | 5.58 | 59 | ||||||||||||||||||||||||||||||||||||||
2010 | 10.24 | 0.67 | 1.14 | 1.81 | (0.86 | ) | — | (0.86 | ) | 11.19 | 18.78 | 931,865 | 1.36 | (6) | 1.36 | (6) | 1.79 | 6.41 | 70 | |||||||||||||||||||||||||||||||||||||||||
2009 | 9.43 | 0.71 | 0.85 | 1.56 | (0.75 | ) | — | (0.75 | ) | 10.24 | 18.62 | 790,597 | 1.37 | (6) | 1.37 | (6) | 1.81 | 8.47 | 73 | |||||||||||||||||||||||||||||||||||||||||
2008 | 11.04 | 0.62 | (1.18 | ) | (0.56 | ) | (0.74 | ) | (0.31 | ) | (1.05 | ) | 9.43 | (5.71 | ) | 877,354 | 1.37 | (6) | 1.37 | (6) | 1.79 | 5.94 | 83 |
* | Includes Fees Paid Indirectly, if applicable. See Note 4 in Notes to Financial Statements. |
** | See Note 4 in Notes to Financial Statements. |
*** | For the six months ended March 31, 2013. All ratios have been annualized. Total Return and Portfolio Turnover Rate have not been annualized. |
† | Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
(1) | Per share net investment income/(loss) and net realized and unrealized gains/(losses) calculated using average shares. |
(2) | The expense ratio includes interest expense on reverse repurchase agreements. Had this expense been excluded, the ratios for Class A and I shares would have been 1.28% and 1.53%, respectively, for 2009 and 2008. |
(3) | The expense ratio includes overdraft fees. Had this expense been excluded, the ratios for Class A and I shares would have been 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, 1.28% and 1.53%, respectively for 2009 and 1.25% and 1.50%, respectively for 2008. |
(4) | The expense ratio includes overdraft fees. Had this expense been excluded, the ratios would have been 1.96% for 2013, 2012, 2011, 2010, 2009 and 2008. |
(5) | The expense ratio includes overdraft fees. Had this expense been excluded, the ratios would have been 1.02%, 1.02%, 1.02%, 1.01% and 1.02% for 2013, 2012, 2011, 2009 and 2008, respectively. |
(6) | The expense ratio includes overdraft fees. Had this expense been excluded, the ratios would have been 1.36% for 2013, 2012, 2011, 2010, 2009 and 2008. |
(7) | The expense ratio includes proxy and overdraft fees. Had these expenses been excluded, the ratio would have been 1.01% for 2010. |
(8) | Includes return of capital of less than $0.01. |
(9) | Includes a return of capital of $0.01 per share. |
Amounts designated as “—” are either $0 or have been rounded to $0.
The accompanying notes are an integral part of the financial statements.
30 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
March 31, 2013 (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”). The Trust’s prospectuses provide a description of each Fund’s investment objective, and strategies. The Trust is registered to offer Class A shares of each of the Funds and Class I shares of the International Equity 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 (“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 security or securities principally trade, but before the time at which
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Notes to Financial Statements (Continued)
March 31, 2013 (Unaudited)
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 GAAP, fair value is defined as the price that the Fund would receive upon selling an investment in a timely 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, 2013 maximized the use of observable inputs and minimized the use of unobservable inputs.
For the six months ended March 31, 2013, 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.
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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 Summary Schedule of Investments for details regarding open forward foreign currency contracts as of March 31, 2013, 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. In addition, the International Fixed Income Fund and the Emerging Markets Debt Fund may 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 Summary Schedule of Investments for details regarding open futures contracts as of March 31, 2013, 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 Emerging Markets Debt Fund had options contracts as of March 31, 2013, as disclosed in the Funds’ Schedules of Investments or Summary Schedule of Investments.
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. Refer to each Fund’s Summary Schedule of Investments for details regarding open option/swaption contracts as of March 31, 2013, if applicable.
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
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Notes to Financial Statements (Continued)
March 31, 2013 (Unaudited)
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 securities representing a particular index. 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.
Entering into swap agreements involves, to varying degrees, elements of credit and market risk in excess of the amounts recognized on the Summary 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 Summary Schedule of Investments for details regarding open swap contracts as of March 31, 2013, 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 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
34 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
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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 some 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, 2013, 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 year. For Funds that held derivatives throughout the year with only one type of risk exposure, additional information can be found on the Summary Schedules of Investments and the Statements of Operations. The fair value of derivative instruments as of March 31, 2013 was as follows:
Asset Derivatives | Liability Derivatives | |||||||||||
Six month period ended March 31, 2013 ($ Thousands) | Six month period ended March 31, 2013 ($ Thousands) | |||||||||||
Contract Type | Statements of Assets & Liabilities Location | Fair Value | Statements of Assets & Liabilities Location | Fair Value | ||||||||
International Fixed Income Fund | ||||||||||||
Interest rate contracts | Net Assets — Unrealized appreciation on futures contracts | $ | 180 | * | Net Assets — Unrealized depreciation on futures contracts | $ | 216 | * | ||||
Net Assets — Unrealized appreciation on swap contracts | 1,794 | † | Net Assets — Unrealized depreciation on swap contracts | 1,042 | † | |||||||
Credit contracts | Net Assets — Unrealized appreciation on swap contracts | 18 | † | Net Assets — Unrealized depreciation on swap contracts | — | |||||||
Foreign exchange contracts | Unrealized gain on forward foreign currency contracts | 4,480 | Unrealized loss on forward foreign currency contracts | 790 | ||||||||
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| |||||||||
Total Derivatives not accounted for as hedging instruments | $ | 6,472 | $ | 2,048 | ||||||||
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| |||||||||
Emerging Markets Debt Fund | ||||||||||||
Interest rate contracts | Net Assets — Unrealized appreciation on swap contracts | $ | 35 | † | Net Assets – Unrealized depreciation on swap contracts | $ | 275 | † | ||||
Foreign exchange contracts | Unrealized gain on forward foreign currency contracts | 5,075 | Unrealized loss on forward foreign currency contracts | 3,418 | ||||||||
Equity contracts | Net Assets — Unrealized appreciation on swap contracts | 238 | † | Net Assets — Unrealized depreciation on swap contracts | 241 | † | ||||||
Options purchased, at value | 677 | Options written, at value | — | |||||||||
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| |||||||||
Total Derivatives not accounted for as hedging instruments | $ | 6,025 | $ | 3,934 | ||||||||
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* | Includes cumulative appreciation/(depreciation) on futures contracts as reported in the Summary Schedules of Investments. Only current day’s variation margin is reported within the Statements of Assets & Liabilities. |
† | Includes cumulative appreciation/(depreciation) on swap contracts as reported in the Summary Schedules of Investments. Market Value is reported within the Statements of Assets & Liabilities for swap contracts that have paid premiums. |
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Notes to Financial Statements (Continued)
March 31, 2013 (Unaudited)
The effect of derivative instruments on the Statements of Operations for the six months ended March 31, 2013 is as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income ($ Thousands):
Derivatives Not Accounted for as Hedging Instruments | Options | Futures | Forward Currency Contracts | Swaps | Total | |||||||||||||||
International Equity Fund | ||||||||||||||||||||
Interest rate contracts | $ | — | $ | 4,612 | $ | — | $ | — | $ | 4,612 | ||||||||||
Foreign exchange contracts | — | — | (678 | ) | — | (678 | ) | |||||||||||||
Total | $ | — | $ | 4,612 | $ | (678 | ) | $ | — | $ | 3,934 | |||||||||
International Fixed Income Fund | ||||||||||||||||||||
Interest rate contracts | $ | — | $ | 431 | $ | — | $ | 673 | $ | 1,104 | ||||||||||
Foreign exchange contracts | — | — | 21,478 | — | 21,478 | |||||||||||||||
Credit contracts | — | — | — | (11 | ) | (11 | ) | |||||||||||||
Total | $ | — | $ | 431 | $ | 21,478 | $ | 662 | $ | 22,571 | ||||||||||
Emerging Markets Debt Fund | ||||||||||||||||||||
Interest rate contracts | $ | — | $ | (7 | ) | $ | — | $ | 128 | $ | 121 | |||||||||
Foreign exchange contracts | — | — | 5,519 | — | 5,519 | |||||||||||||||
Equity contracts | — | — | — | 6,529 | 6,529 | |||||||||||||||
Total | $ | — | $ | (7 | ) | $ | 5,519 | $ | 6,657 | $ | 12,169 |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income ($ Thousands):
Derivatives Not Accounted for as Hedging Instruments | Options | Futures | Forward Currency Contracts | Swaps | Total | |||||||||||||||
International Equity Fund | ||||||||||||||||||||
Interest rate contracts | $ | — | $ | 649 | $ | — | $ | — | $ | 649 | ||||||||||
Foreign exchange contracts | — | — | 391 | — | 391 | |||||||||||||||
Total | $ | — | $ | 649 | $ | 391 | $ | — | $ | 1,040 | ||||||||||
International Fixed Income Fund | ||||||||||||||||||||
Interest rate contracts | $ | — | $ | 87 | $ | — | $ | (652 | ) | $ | (565 | ) | ||||||||
Foreign exchange contracts | — | — | 5,642 | — | 5,642 | |||||||||||||||
Credit contracts | — | — | — | 18 | 18 | |||||||||||||||
Total | $ | — | $ | 87 | $ | 5,642 | $ | (634 | ) | $ | 5,095 | |||||||||
Emerging Markets Debt Fund | ||||||||||||||||||||
Interest rate contracts | $ | — | $ | (21 | ) | $ | — | $ | (246 | ) | $ | (267 | ) | |||||||
Foreign exchange contracts | 301 | — | (1,200 | ) | — | (899 | ) | |||||||||||||
Equity contracts | — | — | — | (1,638 | ) | (1,638 | ) | |||||||||||||
Total | $ | 301 | $ | (21 | ) | $ | (1,200 | ) | $ | (1,884 | ) | $ | (2,804 | ) |
Certain Funds are party to International Swap Dealers Association, Inc. Master Agreements (“ISDA Master Agreements”). These agreements are with select counterparties and they govern transactions, including
certain over-the counter derivative and foreign exchange contracts, entered into by the Trust on behalf of a Fund and the counterparty.
The ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of termination may give a counterparty the right to terminate all of its contracts and affect settlement of all outstanding transactions under the applicable ISDA Master Agreement.
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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 voluntarily and the Funds’ Adviser, Administrator and/or Distributor may discontinue all or part of any of these waivers at any time.
The following is a summary of annual fees payable to the Adviser, Administrator and Distributor and the voluntary expense limitations for each fund:
Advisory Fee | Administration Fee | Shareholder Servicing Fee | Administrative Servicing Fee | Voluntary Expense Limitations | ||||||||||||||||
International Equity Fund | ||||||||||||||||||||
Class A | 0.505 | % | 0.45 | % | 0.25 | % | — | 1.26 | % | |||||||||||
Class I | 0.505 | % | 0.45 | % | 0.25 | % | 0.25 | % | 1.51 | % | ||||||||||
Emerging Markets Equity Fund | ||||||||||||||||||||
Class A | 1.05 | % | 0.65 | % | 0.25 | % | — | 1.96 | % | |||||||||||
International Fixed Income Fund | ||||||||||||||||||||
Class A | 0.30 | % | 0.60 | % | 0.25 | % | — | 1.02 | %* | |||||||||||
Emerging Markets Debt Fund | ||||||||||||||||||||
Class A | 0.85 | % | 0.65 | % | 0.25 | % | — | 1.36 | % |
* Prior to February 1, 2012 the expense limitation was contractual.
For the six months ended March 31, 2013, the Distributor retained 100% of both shareholder servicing fees and administrative servicing fees, less the waiver.
Investment Sub-Advisory Agreements — As of March 31, 2013, SIMC has entered into Investment Sub-Advisory Agreements with the following parties:
Investment Sub-Adviser |
International Equity Fund |
Acadian Asset Management LLC |
Causeway Capital Management LLC |
del Rey Global Investors LLC |
INTECH Investment Management LLC |
Neuberger Berman Management LLC |
Schroder Investment Management North America, Inc. |
Tradewinds Global Investors LLC |
Investment Sub-Adviser |
Emerging Markets Equity Fund |
Delaware Investment Fund Advisers |
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 |
Ashmore Investment Management Limited |
Stone Harbor Investment Partners LP |
Under the investment sub-advisory agreements, each sub-adviser receives an annual fee, paid by SIMC.
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 37 |
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Notes to Financial Statements (Continued)
March 31, 2013 (Unaudited)
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. For the six months ended March 31, 2013, the Distributor received no brokerage commissions.
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, 2013, can be found on the Statement of Operations and Financial Highlights, respectively. During the six months ended March 31, 2013, the Funds did not report any such fees.
Investment in Affiliated Securities — The Funds may invest excess cash in the SEI Daily Income Trust Prime Obligation Fund, an affiliated money market fund. Additionally, the Funds may invest cash collateral from the securities lending program in the SEI Liquidity Fund L.P., also an affiliated fund.
Payment to Affiliates — Certain Officers and Trustees of the Trust are also Officers and/or Trustees 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. The CCO’s services have been approved by and are reviewed annually by the Board.
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, 2013, 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, 2013, were as follows:
Purchases ($ Thousands) | Sales and Maturities ($ Thousands) | |||||||
International Equity Fund | ||||||||
US Government | $ | — | $ | — | ||||
Other | 482,569 | 484,900 | ||||||
Emerging Markets Equity Fund | ||||||||
US Government | — | — | ||||||
Other | 341,528 | 345,211 | ||||||
International Fixed Income Fund | ||||||||
US Government | 2,852 | 3,524 | ||||||
Other | 182,973 | 156,427 | ||||||
Emerging Markets Debt Fund | ||||||||
US Government | — | — | ||||||
Other | 493,177 | 347,805 |
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 GAAP. These differences, which may result in distribution reclassifications, are primarily due to paydown reclassifications, foreign currency transactions, net investment losses, investment in partnerships, swaps and passive foreign investment companies. 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.
Accordingly, the following permanent differences, primarily attributable to different treatment for gains and losses on paydowns of mortgage and asset-backed securities for tax purposes, investments in swaps, investments in passive foreign investment companies, investments in partnerships, distribution reclassification, REIT income reclassification, distributions in excess of net investment income and
38 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
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foreign currency transactions have been reclassified to/from the following accounts as of September 30, 2012:
Paid-in ($ Thousands) | Undistributed Net Investment Income/(Loss) ($ Thousands) | Accumulated Realized Gain/ (Loss) ($ Thousands) | ||||||||||
International Equity Fund | $ | — | $ | 1,105 | $ | (1,105 | ) | |||||
Emerging Markets Equity Fund | — | (553 | ) | 553 | ||||||||
International Fixed Income Fund | (1,462 | ) | 19,673 | (18,211 | ) | |||||||
Emerging Markets Debt Fund | — | (1,408 | ) | 1,408 |
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 | 2012 | $ | 34,761 | $ | — | $ | — | $ | 34,761 | |||||||||||
2011 | 27,465 | — | — | 27,465 | ||||||||||||||||
Emerging Markets Equity Fund | 2012 | 2,183 | — | — | 2,183 | |||||||||||||||
2011 | 8,167 | — | — | 8,167 | ||||||||||||||||
International Fixed Income Fund | 2012 | 12,225 | — | — | 12,225 | |||||||||||||||
2011 | 22,700 | — | 490 | 23,190 | ||||||||||||||||
Emerging Markets Debt Fund | 2012 | 53,538 | 2,001 | — | 55,539 | |||||||||||||||
2011 | 25,140 | — | — | 25,140 |
As of September 30, 2012, the components of Distributable Earnings (Accumulated Losses) were as follows:
Undistributed Ordinary Income ($ Thousands) | Undistributed Long-Term Capital Gain ($ Thousands) | Capital Loss Carryforwards ($ Thousands) | Post October Gains (Losses) ($ Thousands) | |||||||||||||
International Equity Fund | $ | 29,975 | $ | — | $ | (1,005,442 | ) | $ | (38,847 | ) | ||||||
Emerging Markets Equity Fund | 5,483 | — | (26,674 | ) | (53,694 | ) | ||||||||||
International Fixed Income Fund | — | — | (16,081 | ) | — | |||||||||||
Emerging Markets Debt Fund | 36,708 | 37,028 | — | — |
Post October Currency Losses ($ Thousands) | Unrealized Appreciation ($ Thousands) | Other Temporary Differences ($ Thousands) | Total Accumulated Gains (Losses) ($ Thousands) | |||||||||||||
International Equity Fund | $ | — | $ | 18 | $ | 795 | $ | (1,013,501 | ) | |||||||
Emerging Markets Equity Fund | — | 1,072 | — | (73,813 | ) | |||||||||||
International Fixed Income Fund | — | 24,367 | (15,530 | ) | (7,244 | ) | ||||||||||
Emerging Markets Debt Fund | — | 76,423 | (19,344 | ) | 130,815 |
Post-October losses represent losses realized on investment transactions from November 1, 2011 through September 30, 2012, that, in accordance with Federal income tax regulations, the Funds defer and treat as having arisen in the following fiscal year. 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 09/30/12 ($ Thousands) | ||||||||||
International Equity Fund | $ | 306,282 | $ | 690,357 | $ | 996,639 | ||||||
Emerging Markets Equity Fund | — | 19,246 | 19,246 | |||||||||
International Fixed Income Fund | — | 16,081 | 16,081 |
Under the recently enacted 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. Losses carried forward under these new provisions are as follows:
Short-Term Loss | Long-Term Loss | Total * | ||||||||||
International Equity Fund | $ | 6,750 | $ | 2,053 | $ | 8,803 | ||||||
Emerging Markets Equity Fund | 6,697 | 731 | 7,428 |
* | This table should be used in conjunction with the capital loss carryforwards table. |
During the year ended September 30, 2012, the following Funds utilized capital loss carryforwards to offset capital gains:
Amount utilized ($ Thousands) | ||||
International Fixed Income Fund | $ | 4,547 | ||
Emerging Markets Debt Fund | 749 |
For Federal income tax purposes, the cost of securities owned at March 31, 2013, 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, defaulted bonds 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, excluding options purchased, held by the Funds at March 31, 2013, was as follows:
Federal Tax Cost ($ Thousands) | Aggregate Gross Unrealized Appreciation ($ Thousands) | Aggregate Gross Unrealized Depreciation ($ Thousands) | Net Unrealized Appreciation ($ Thousands) | |||||||||||||
International Equity Fund | $ | 1,948,507 | $ | 251,919 | $ | (112,085 | ) | $ | 139,834 | |||||||
Emerging Markets Equity Fund | 871,207 | 160,635 | (54,025 | ) | 106,610 | |||||||||||
International Fixed Income Fund | 503,000 | 14,894 | (10,952 | ) | 3,942 | |||||||||||
Emerging Markets Debt Fund | 1,243,771 | 78,471 | (23,699 | ) | 54,772 |
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 39 |
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Notes to Financial Statements (Concluded)
March 31, 2013 (Unaudited)
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, 2012, 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
Each Fund invests in securities of foreign issuers in various countries. These investments may involve certain considerations and risks not typically associated with investments in the United States, as a result of, among other factors, the possibility of future political and economic developments and the level of governmental supervision and regulation of securities markets in the respective countries. The market values of the International Fixed Income and Emerging Markets Debt Funds’ investments will change in response to interest rate changes and other factors. During periods of falling interest rates, the values of fixed income securities generally rise. Conversely, during periods of rising interest rates, the values of such securities generally decline. Changes by recognized rating agencies in the ratings of any fixed income security and in the ability of an issuer to make payments of interest and principal may also affect the value of these investments. Also, the ability of the issuers of debt securities held by the International Fixed Income Fund and Emerging Markets Debt Fund to meet their obligations may be affected by economic and political developments in a specific country, industry or region.
Certain securities held by the Funds are valued on the basis of a price provided by a principal market maker. The prices provided by the principal market makers are estimates that may differ from the value that would be realized if the securities were sold. At March 31, 2013, the total value of these securities represented approximately 1.2% of the net assets of the Emerging Markets Debt Fund.
In the normal course of business, the Funds enter into contracts that provide general indemnifications by the Fund to the counterparty to the contract. The Funds’ maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be established; however, Management believes that based on experience, the risk of loss from such claims is considered remote.
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.
9. NEW ACCOUNTING PRONOUNCEMENT
In December 2011, the FASB issued a further update to the guidance “Balance Sheet — Disclosures about Offsetting Assets and Liabilities”. The amendments to this standard require an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. The amended guidance is effective for interim and annual reporting periods beginning after January 1, 2013. At this time, management is evaluating the implications of this update and its impact on the financial statements has not been determined.
10. SUBSEQUENT EVENTS
Management has evaluated the need for disclosures and/or adjustments resulting from subsequent events. Based on this evaluation, no disclosures and/or adjustments were required to the financial statements as of March 31, 2013.
40 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
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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 10/1/12 | Ending Account Value 3/31/13 | Annualized Expense Ratios | Expenses Paid During Period* | |||||||||||||
International Equity Fund |
| |||||||||||||||
Actual Fund Return | ||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,093.10 | 1.25 | % | $ | 6.52 | ||||||||
Class I | 1,000.00 | 1,091.60 | 1.50 | 7.82 | ||||||||||||
Hypothetical 5% Return |
| |||||||||||||||
Class A | $ | 1,000.00 | $ | 1,018.70 | 1.25 | % | $ | 6.29 | ||||||||
Class I | 1,000.00 | 1,017.45 | 1.50 | 7.54 | ||||||||||||
Emerging Markets Equity Fund |
| |||||||||||||||
Actual Fund Return | ||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,059.40 | 1.96 | % | $ | 10.06 | ||||||||
Hypothetical 5% Return |
| |||||||||||||||
Class A | $ | 1,000.00 | $ | 1,015.16 | 1.96 | % | $ | 9.85 |
Beginning Account Value 10/1/12 | Ending Account Value 3/31/13 | Annualized Expense Ratios | Expenses Paid During Period* | |||||||||||||
International Fixed Income Fund |
| |||||||||||||||
Actual Fund Return | ||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,020.30 | 1.02 | % | $ | 5.14 | ||||||||
Hypothetical 5% Return |
| |||||||||||||||
Class A | $ | 1,000.00 | $ | 1,019.85 | 1.02 | % | $ | 5.14 | ||||||||
Emerging Markets Debt Fund |
| |||||||||||||||
Actual Fund Return | ||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,025.40 | 1.36 | % | $ | 6.87 | ||||||||
Hypothetical 5% Return |
| |||||||||||||||
Class A | $ | 1,000.00 | $ | 1,018.15 | 1.36 | % | $ | 6.84 |
* | 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). |
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 41 |
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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 the cash 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 renew the Investment Advisory Agreements between the Trust and SIMC and SIMC and the Sub-Advisers with respect to the Funds of the Trust. 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 extensive 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 Fund counsel and independent counsel to the Independent Trustees 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 and the Sub-Advisers charge the Funds compared with the fees each charge to comparable mutual funds; (vi) the Funds’ overall fees and operating expenses compared with similar mutual funds; (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) SIMC’s and the Sub-Advisers’ policies on and compliance procedures for personal securities transactions; (x) SIMC’s and the Sub-Advisers’ reputation, expertise and resources in domestic and/or international financial markets; and (xi) the Funds’ performance compared with similar mutual funds.
At the December 4-5, 2012 and the March 26-27, 2013 meetings of the Board of Trustees, the Trustees, including a majority of the Independent Trustees, approved the Investment Advisory Agreements and approved the selection of SIMC and the Sub-Advisers to
42 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
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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:
• | 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 and their affiliates dedicated to the Funds; |
• | the Funds’ investment performance and how it compared to that of other comparable mutual funds; |
• | 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 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. The Trustees found the level of SIMC’s and each Sub-Adviser’s professional staff and culture of compliance satisfactory. 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 supported renewal of the Investment Advisory Agreements.
Fund Performance. The Board of Trustees considered Fund performance in determining whether to renew the 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, and, where performance was below the benchmark, the Trustees were satisfied that appropriate steps were being taken. Following evaluation, the Board concluded that, within the context of its full deliberations, the performance of the Funds supported 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 other comparable mutual funds. The Trustees also considered information about average expense ratios of comparable mutual funds in 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. Finally, the Trustees considered the effects of SIMC’s voluntary waiver of management and other fees and the Sub-Advisers’ fees to prevent total Fund expenses from exceeding a specified cap and concluded that SIMC and the Sub-Advisers, through waivers, have maintained the Funds’ net operating expenses at competitive levels for their respective 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 all compensation flowing to SIMC and the Sub-Advisers and their affiliates, directly or indirectly. The Trustees considered whether the varied levels of compensation and profitability under the Investment Advisory Agreements and other service agreements were reasonable and justified in light of the quality of all services rendered to the Funds by SIMC and the Sub-Advisers and their affiliates. The Trustees found that profitability was reasonable and that the margin was not increasing despite growth in assets. When considering the profitability of the Sub-Advisers, the Board
SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 | 43 |
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Board of Trustees Considerations in Approving the Funds’ Investment Advisory and Sub-Advisory Agreements (Unaudited) (Concluded)
took into account the fact that the Sub-Advisers are compensated by SIMC and not by the Funds directly, and such compensation with respect to any 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. Based on this evaluation, the Board concluded that, within the context of its full deliberations, the Funds obtain reasonable benefit from economies of scale.
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, the Trustees did not identify any particular information that was all-important or controlling.
44 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
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SEI INSTITUTIONAL INTERNATIONAL TRUST SEMI-ANNUAL REPORT MARCH 31, 2013
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
Edward McCusker
Anti-Money Laundering Compliance Officer
Privacy Officer
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
KMPG 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)
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SEI-F-031 (3/13)
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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 listed below.
Table of Contents
Schedule of Investments (Unaudited)
International Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK — 92.4% |
| |||||||
Argentina — 0.0% |
| |||||||
Tenaris | 2,059 | $ | 42 | |||||
|
| |||||||
Australia — 3.0% |
| |||||||
Amcor | 371,739 | 3,592 | ||||||
AMP | 83,847 | 455 | ||||||
APA Group | 24,950 | 155 | ||||||
Atlas Iron | 1,700,771 | 1,966 | ||||||
Australia & New Zealand Banking Group | 195,428 | 5,806 | ||||||
Beach Energy | 246,347 | 362 | ||||||
BHP Billiton (USD) ADR | 43,900 | 3,004 | ||||||
Boral | 73,582 | 376 | ||||||
Brambles | 488,258 | 4,307 | ||||||
Caltex Australia | 113,756 | 2,529 | ||||||
CFS Retail Property Trust Group (A) | 97,883 | 205 | ||||||
Coca-Cola Amatil | 30,193 | 458 | ||||||
Cochlear | 9,655 | 684 | ||||||
Commonwealth Bank of Australia | 25,837 | 1,830 | ||||||
Crown | 18,923 | 242 | ||||||
CSL | 93,703 | 5,780 | ||||||
Dexus Property Group (A) | 809,351 | 877 | ||||||
Flight Centre | 11,111 | 389 | ||||||
Goodman Group (A) | 339,610 | 1,691 | ||||||
GPT Group (A) | 69,812 | 270 | ||||||
Iluka Resources | 272,900 | 2,657 | ||||||
Insurance Australia Group | 355,370 | 2,113 | ||||||
Lend Lease | 35,129 | 373 | ||||||
Macquarie Group | 21,549 | 834 | ||||||
Newcrest Mining | 353,715 | 7,385 | ||||||
Qantas Airways* | 24,377 | 45 | ||||||
Ramsay Health Care | 25,362 | 853 | ||||||
RCR Tomlinson | 43,127 | 96 | ||||||
Resolute Mining | 73,195 | 101 | ||||||
Roc Oil* | 155,859 | 81 | ||||||
Sonic Healthcare | 4,601 | 67 | ||||||
Stockland (A) | 14,972 | 57 | ||||||
Suncorp Group | 95,446 | 1,175 | ||||||
Tabcorp Holdings | 43,874 | 148 | ||||||
Tatts Group | 297,431 | 982 | ||||||
Telstra | 715,395 | 3,360 | ||||||
Transurban Group | 86,602 | 575 | ||||||
Treasury Wine Estates | 64,879 | 384 | ||||||
UXC | 35,719 | 46 | ||||||
Wesfarmers | 19,089 | 799 | ||||||
Westfield Group (A) | 83,316 | 941 | ||||||
Westfield Retail Trust (A) | 320,891 | 1,009 | ||||||
Westpac Banking | 29,044 | 930 | ||||||
Woolworths | 10,116 | 356 | ||||||
|
| |||||||
60,345 | ||||||||
|
| |||||||
Austria — 0.1% |
| |||||||
Andritz | 11,892 | 798 | ||||||
Erste Group Bank | 26,470 | 737 | ||||||
IMMOFINANZ | 140,575 | 532 | ||||||
Oesterreichische Post | 4,106 | 177 | ||||||
Raiffeisen International Bank Holding | 10,808 | 367 | ||||||
Vienna Insurance Group | 2,968 | 144 | ||||||
|
| |||||||
2,755 | ||||||||
|
|
Description | Shares | Market Value ($ Thousands) | ||||||
Belgium — 1.2% |
| |||||||
Ageas | 92,215 | $ | 3,118 | |||||
Anheuser-Busch InBev | 56,958 | 5,640 | ||||||
Belgacom | 238,473 | 5,928 | ||||||
Colruyt | 105,151 | 5,084 | ||||||
KBC Groep | 78,600 | 2,707 | ||||||
Solvay | 493 | 67 | ||||||
UCB | 19,586 | 1,250 | ||||||
|
| |||||||
23,794 | ||||||||
|
| |||||||
Bosnia and Herzegovina — 0.1% |
| |||||||
Axis Capital Holdings | 65,521 | 2,727 | ||||||
|
| |||||||
Brazil — 0.3% |
| |||||||
Banco Santander Brasil ADR | 234,963 | 1,706 | ||||||
Centrais Eletricas Brasileiras | 75,600 | 261 | ||||||
Centrais Eletricas Brasileiras ADR | 53,720 | 184 | ||||||
Fibria Celulose ADR*(B) | 191,754 | 2,314 | ||||||
Telefonica Brasil ADR | 27,576 | 736 | ||||||
|
| |||||||
5,201 | ||||||||
|
| |||||||
Canada — 3.3% |
| |||||||
Agrium (B) | 29,400 | 2,866 | ||||||
Atrium Innovations* | 3,200 | 38 | ||||||
Bank of Nova Scotia | 52,400 | 3,048 | ||||||
Barrick Gold | 260,125 | 7,648 | ||||||
Cameco | 163,928 | 3,406 | ||||||
Canadian Pacific Railway (B) | 32,030 | 4,178 | ||||||
Cenovus Energy | 79,046 | 2,447 | ||||||
Dollarama | 69,900 | 4,487 | ||||||
Imperial Oil | 87,500 | 3,575 | ||||||
Kinross Gold | 671,224 | 5,323 | ||||||
Magna International, Cl A | 74,600 | 4,381 | ||||||
New Gold* | 464,100 | 4,220 | ||||||
Quebecor, Cl B (B) | 5,500 | 233 | ||||||
Silver Wheaton | 147,500 | 4,616 | ||||||
Suncor Energy | 276,047 | 8,275 | ||||||
Superior Plus | 6,500 | 76 | ||||||
Talisman Energy | 212,856 | 2,608 | ||||||
Toronto-Dominion Bank | 69,031 | 5,746 | ||||||
|
| |||||||
67,171 | ||||||||
|
| |||||||
Chile — 0.2% |
| |||||||
Sociedad Quimica y Minera de Chile ADR | 71,500 | 3,965 | ||||||
|
| |||||||
China — 0.4% |
| |||||||
Agricultural Bank of China | 204,000 | 98 | ||||||
Bank of China | 3,417,000 | 1,584 | ||||||
Huaneng Power International* | 3,498,600 | 3,732 | ||||||
Industrial & Commercial Bank of China | 4,155,000 | 2,912 | ||||||
|
| |||||||
8,326 | ||||||||
|
| |||||||
Colombia — 0.1% |
| |||||||
Ecopetrol ADR (B) | 44,500 | 2,426 | ||||||
|
| |||||||
Denmark — 0.8% |
| |||||||
AP Moeller - Maersk, Cl B | 102 | 796 | ||||||
Carlsberg, Cl B | 3,594 | 350 | ||||||
Coloplast, Cl B | 20,945 | 1,126 | ||||||
Jyske Bank* | 112,431 | 3,827 | ||||||
Novo Nordisk, Cl B | 31,997 | 5,198 | ||||||
Tryg | 55,460 | 4,475 | ||||||
|
|
1 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
$ | 15,772 | |||||||
|
| |||||||
Finland — 0.3% | ||||||||
Huhtamaki | 7,436 | 146 | ||||||
Kone, Cl B | 9,695 | 762 | ||||||
Metsa Board, Cl B | 12,901 | 38 | ||||||
Neste Oil | 16,993 | 240 | ||||||
Orion, Cl B | 16,508 | 433 | ||||||
Pohjola Bank, Cl A | 21,824 | 317 | ||||||
Sampo, Cl A | 21,835 | 840 | ||||||
Stora Enso, Cl R | 511,758 | 3,303 | ||||||
Tieto | 15,404 | 326 | ||||||
Wartsila, Cl B | 2,787 | 125 | ||||||
|
| |||||||
6,530 | ||||||||
|
| |||||||
France — 9.9% | ||||||||
Air France-KLM* | 18,522 | 175 | ||||||
Alstom | 45,048 | 1,833 | ||||||
Areva* | 79,082 | 1,168 | ||||||
Arkema | 112,875 | 10,267 | ||||||
Assystem* | 2,058 | 43 | ||||||
AtoS* | 4,133 | 284 | ||||||
AXA | 326,177 | 5,606 | ||||||
BNP Paribas | 324,022 | 16,629 | ||||||
Boiron* | 1,900 | 98 | ||||||
Bureau Veritas* | 5,585 | 695 | ||||||
Carrefour | 158,480 | 4,338 | ||||||
Cie Generale des Etablissements-Michelin, Cl B | 18,055 | 1,510 | ||||||
Cie Generale d’Optique Essilor International | 76,264 | 8,480 | ||||||
CNP Assurances | 9,436 | 129 | ||||||
Compagnie Generale de Geophysique-Veritas* | 24,987 | 563 | ||||||
Credit Agricole* | 254,703 | 2,098 | ||||||
Danone | 36,700 | 2,553 | ||||||
Dassault Systemes | 1,904 | 220 | ||||||
Electricite de France | 111,632 | 2,141 | ||||||
Eurazeo | 3,413 | 173 | ||||||
Eutelsat Communications | 117,109 | 4,129 | ||||||
Fonciere Des Regions (A) | 500 | 39 | ||||||
Gecina (A) | 3,988 | 463 | ||||||
Iliad* | 2,886 | 614 | ||||||
Klepierre (A) | 10,435 | 410 | ||||||
Lafarge | 30,133 | 2,002 | ||||||
Legrand | 165,298 | 7,208 | ||||||
L’Oreal | 39,208 | 6,216 | ||||||
LVMH Moet Hennessy Louis Vuitton | 30,972 | 5,315 | ||||||
Nexity* | 5,300 | 182 | ||||||
Pernod-Ricard | 26,889 | 3,350 | ||||||
PPR | 23,426 | 5,146 | ||||||
Remy Cointreau | 301 | 35 | ||||||
Renault | 18,931 | 1,186 | ||||||
Rexel | 329,112 | 7,182 | ||||||
Safran | 182,305 | 8,130 | ||||||
Sanofi | 405,180 | 41,167 | ||||||
Schneider Electric | 251,025 | 18,339 | ||||||
SES | 18,349 | 575 | ||||||
Societe BIC | 138 | 16 | ||||||
Societe Generale | 43,746 | 1,437 | ||||||
Sodexo | 83,999 | 7,827 | ||||||
Technip | 47,628 | 4,882 | ||||||
Teleperformance* | 4,248 | 181 |
Description | Shares | Market Value ($ Thousands) | ||||||
Thales | 52,901 | $ | 2,237 | |||||
Total | 160,346 | 7,677 | ||||||
Unibail-Rodamco (A) | 2,405 | 560 | ||||||
Valeo | 6,844 | 370 | ||||||
Vallourec | 43,965 | 2,113 | ||||||
Vivendi | 103,005 | 2,128 | ||||||
Wendel* | 4,929 | 522 | ||||||
|
| |||||||
200,641 | ||||||||
|
| |||||||
Germany — 8.3% | ||||||||
Adidas | 58,838 | 6,104 | ||||||
Allianz | 17,793 | 2,416 | ||||||
BASF | 51,962 | 4,550 | ||||||
Bayer | 123,757 | 12,764 | ||||||
Bayerische Motoren Werke | 4,405 | 380 | ||||||
Beiersdorf | 339 | 31 | ||||||
Borussia Dortmund GmbH & KGaA | 22,765 | 96 | ||||||
Brenntag | 44,508 | 6,948 | ||||||
CENTROTEC Sustainable | 1,890 | 36 | ||||||
Commerzbank* | 809,800 | 1,189 | ||||||
Continental | 68,771 | 8,221 | ||||||
Daimler | 240,659 | 13,092 | ||||||
Deutsche Bank | 37,161 | 1,449 | ||||||
Deutsche Boerse | 163,379 | 9,893 | ||||||
Deutsche Lufthansa* | 221,896 | 4,333 | ||||||
Deutsche Post | 216,089 | 4,978 | ||||||
Deutsche Telekom | 6,472 | 68 | ||||||
E.ON | 4,007 | 70 | ||||||
Freenet | 7,625 | 185 | ||||||
Fresenius | 3,348 | 413 | ||||||
Fresenius Medical Care | 28,843 | 1,946 | ||||||
GEA Group | 187,253 | 6,171 | ||||||
Grammer | 6,818 | 190 | ||||||
Hannover Rueckversicherung | 11,692 | 917 | ||||||
HeidelbergCement | 63,397 | 4,555 | ||||||
Henkel | 17,853 | 1,410 | ||||||
Infineon Technologies | 784,286 | 6,192 | ||||||
Kabel Deutschland Holding | 11,804 | 1,089 | ||||||
Lanxess | 10,830 | 768 | ||||||
Linde | 87,380 | 16,245 | ||||||
Merck | 12,032 | 1,815 | ||||||
Muenchener Rueckversicherungs | 51,184 | 9,572 | ||||||
RWE | 1,643 | 61 | ||||||
SAP | 72,704 | 5,824 | ||||||
SAP ADR | 49,900 | 4,019 | ||||||
Siemens | 154,523 | 16,642 | ||||||
Suedzucker | 34,297 | 1,449 | ||||||
Symrise | 166,749 | 6,606 | ||||||
Telefonica Deutschland Holding* | 826,191 | 6,324 | ||||||
ThyssenKrupp* | 5,187 | 106 | ||||||
Volkswagen | 705 | 133 | ||||||
|
| |||||||
169,250 | ||||||||
|
| |||||||
Greece — 0.0% | ||||||||
Hellenic Telecommunications Organization* | 9,304 | 56 | ||||||
|
| |||||||
Hong Kong — 3.4% | ||||||||
AIA Group | 2,021,200 | 8,853 | ||||||
BOC Hong Kong Holdings | 199,500 | 666 | ||||||
Cathay Pacific Airways | 108,000 | 185 | ||||||
Chaoda Modern Agriculture*(C) | 2,440,000 | 346 |
2 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
Cheung Kong Holdings | 26,000 | $ | 384 | |||||
China Merchants Holdings International | 582,000 | 1,908 | ||||||
China Mobile ADR | 133,900 | 7,114 | ||||||
China Mobile | 397,500 | 4,209 | ||||||
CLP Holdings | 151,000 | 1,323 | ||||||
CNOOC | 3,194,000 | 6,139 | ||||||
First Pacific | 678,000 | 919 | ||||||
Galaxy Entertainment Group* | 409,000 | 1,707 | ||||||
Hang Seng Bank | 25,900 | 415 | ||||||
Henderson Land Development | 191,000 | 1,307 | ||||||
HKT Trust | 417,000 | 417 | ||||||
Hong Kong & China Gas | 185,600 | 542 | ||||||
Hongkong Land Holdings | 752,000 | 5,572 | ||||||
Hopewell Holdings | 127,500 | 517 | ||||||
Hutchison Whampoa | 22,500 | 234 | ||||||
Hysan Development | 111,000 | 561 | ||||||
Jardine Matheson Holdings | 65,500 | 4,264 | ||||||
Jardine Strategic Holdings | 221,610 | 8,771 | ||||||
Kerry Properties | 86,000 | 382 | ||||||
MTR | 26,500 | 105 | ||||||
New World Development | 791,000 | 1,339 | ||||||
Power Assets Holdings | 49,500 | 467 | ||||||
SJM Holdings | 144,000 | 359 | ||||||
Sun Hung Kai Properties | 33,000 | 445 | ||||||
Swire Pacific, Cl A | 19,000 | 242 | ||||||
Swire Properties | 121,600 | 432 | ||||||
Wharf Holdings | 181,000 | 1,613 | ||||||
Wheelock | 224,000 | 1,193 | ||||||
Yue Yuen Industrial Holdings | 1,621,500 | 5,285 | ||||||
|
| |||||||
68,215 | ||||||||
|
| |||||||
India — 0.3% | ||||||||
Idea Cellular* | 3,167,700 | 6,638 | ||||||
|
| |||||||
Indonesia — 0.2% | ||||||||
Bank Mandiri | 3,516,400 | 3,619 | ||||||
Telekomunikasi Indonesia ADR | 4,687 | 211 | ||||||
Telekomunikasi Indonesia | 312,000 | 353 | ||||||
|
| |||||||
4,183 | ||||||||
|
| |||||||
Ireland — 0.8% | ||||||||
CRH | 4,302 | 95 | ||||||
Experian | 339,392 | 5,878 | ||||||
James Hardie Industries | 98,311 | 1,025 | ||||||
Kerry Group, Cl A | 6,721 | 401 | ||||||
Ryanair Holdings ADR | 132,700 | 5,544 | ||||||
Smurfit Kappa Group | 210,653 | 3,453 | ||||||
|
| |||||||
16,396 | ||||||||
|
| |||||||
Israel — 1.1% | ||||||||
Bank Hapoalim* | 25,251 | 115 | ||||||
Bezeq Israeli Telecommunication | 3,418,960 | 4,742 | ||||||
Check Point Software Technologies* | 253,860 | 11,929 | ||||||
Israel Chemicals | 869 | 11 | ||||||
Mellanox Technologies* | 4,708 | 261 | ||||||
Teva Pharmaceutical Industries ADR | 153,556 | 6,093 | ||||||
|
| |||||||
23,151 | ||||||||
|
| |||||||
Italy — 0.8% | ||||||||
Assicurazioni Generali | 4,992 | 78 | ||||||
Atlantia | 24,716 | 390 | ||||||
Banco Popolare Scarl* | 48,420 | 61 |
Description | Shares | Market Value ($ Thousands) | ||||||
Enel | 570,498 | $ | 1,862 | |||||
Eni | 1,124 | 25 | ||||||
ERG | 136,728 | 1,244 | ||||||
Exor | 32,713 | 914 | ||||||
Fiat* | 97,533 | 519 | ||||||
Fiat Industrial | 9,398 | 106 | ||||||
Finmeccanica* | 336,167 | 1,616 | ||||||
Intesa Sanpaolo | 740,372 | 1,084 | ||||||
Luxottica Group | 2,028 | 102 | ||||||
Mediobanca | 91,886 | 467 | ||||||
Prysmian | 5,190 | 107 | ||||||
Snam Rete Gas | 1,035,899 | 4,721 | ||||||
Telecom Italia RNC | 5,370,655 | 3,304 | ||||||
UniCredit | 41,990 | 179 | ||||||
Unione di Banche Italiane | 15,048 | 55 | ||||||
|
| |||||||
16,834 | ||||||||
|
| |||||||
Japan — 15.8% | ||||||||
AEON Financial Service (B) | 12,000 | 341 | ||||||
Aeon Mall | 13,000 | 394 | ||||||
Ajinomoto | 3,000 | 45 | ||||||
Alfresa Holdings | 7,100 | 384 | ||||||
Alpen | 14,700 | 276 | ||||||
Aoyama Trading | 5,300 | 133 | ||||||
Arcland Sakamoto | 12,800 | 225 | ||||||
Arnest One | 10,600 | 209 | ||||||
Asics | 30,100 | 504 | ||||||
Astellas Pharma | 157,800 | 8,481 | ||||||
Bank of Yokohama | 338,000 | 1,957 | ||||||
Belluna | 6,800 | 62 | ||||||
Benesse | 41,000 | 1,761 | ||||||
Best Bridal | 65 | 97 | ||||||
Bridgestone | 294,500 | 9,916 | ||||||
CAC | 4,700 | 42 | ||||||
Calsonic Kansei | 199,000 | 894 | ||||||
Canon Marketing Japan | 5,800 | 85 | ||||||
Casio Computer | 53,700 | 413 | ||||||
Central Japan Railway | 34,700 | 3,656 | ||||||
Chiyoda | 37,000 | 412 | ||||||
Chugai Pharmaceutical | 39,500 | 895 | ||||||
Credit Saison | 16,100 | 401 | ||||||
Dai Nippon Printing (B) | 479,600 | 4,513 | ||||||
Daicel | 92,000 | 729 | ||||||
Daihatsu Motor | 49,000 | 1,016 | ||||||
Daiichi Sankyo | 89,400 | 1,723 | ||||||
Daiichikosho | 4,600 | 123 | ||||||
Daikyo | 175,000 | 608 | ||||||
Dainippon Sumitomo Pharma | 105,900 | 1,974 | ||||||
Daito Trust Construction | 32,000 | 2,726 | ||||||
Daiwa House Industry | 220,000 | 4,253 | ||||||
Daiwa Securities Group | 166,000 | 1,157 | ||||||
Denso | 1,300 | 55 | ||||||
Doutor Nichires Holdings | 6,200 | 91 | ||||||
Dydo Drinco | 4,400 | 204 | ||||||
Eisai | 100 | 4 | ||||||
FamilyMart | 3,900 | 180 | ||||||
Fanuc | 83,700 | 12,882 | ||||||
Fast Retailing | 1,000 | 326 | ||||||
Fuji Film Holdings | 294,900 | 5,751 | ||||||
Fuji Heavy Industries | 110,000 | 1,707 | ||||||
Fuji Soft | 7,600 | 181 | ||||||
Fujishoji | 42 | 51 | ||||||
Fujitsu | 228,000 | 940 |
3 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
Fukuda Denshi | 1,300 | $ | 47 | |||||
Geo Holdings | 200 | 252 | ||||||
Grandy House | 16,800 | 65 | ||||||
Hachijuni Bank | 231,000 | 1,396 | ||||||
Hankyu Hanshin Holdings | 184,000 | 1,112 | ||||||
Hino Motors | 341,000 | 3,658 | ||||||
Hirose Electric | 400 | 54 | ||||||
HIS | 12,100 | 549 | ||||||
Hisamitsu Pharmaceutical | 12,100 | 661 | ||||||
Hitachi | 1,071,000 | 6,177 | ||||||
Hulic | 51,300 | 421 | ||||||
IHI | 304,000 | 923 | ||||||
Iida Home Max | 30,600 | 552 | ||||||
Infocom | 32 | 55 | ||||||
IT Holdings | 56,400 | 745 | ||||||
Iwatani | 13,000 | 60 | ||||||
J Front Retailing | 8,000 | 62 | ||||||
Japan Airlines | 11,400 | 529 | ||||||
Japan Exchange Group | 1,000 | 91 | ||||||
Japan Prime Realty Investment, Cl A (A) | 35 | 139 | ||||||
Japan Real Estate Investment, Cl A (A) | 16 | 219 | ||||||
Japan Retail Fund Investment, Cl A (A) | 384 | 947 | ||||||
Japan Steel Works | 268,000 | 1,426 | ||||||
Japan Tobacco | 4,100 | 131 | ||||||
JGC | 271,200 | 6,853 | ||||||
Jupiter Telecommunications* | 8,833 | 11,587 | ||||||
Juroku Bank | 11,000 | 45 | ||||||
Kamei | 5,000 | 53 | ||||||
Kandenko | 10,000 | 46 | ||||||
Kanematsu* | 158,000 | 206 | ||||||
Kanematsu Electronics | 6,100 | 75 | ||||||
Kansai Paint | 380,300 | 4,225 | ||||||
Kao | 92,400 | 3,023 | ||||||
KDDI (B) | 229,400 | 9,429 | ||||||
Keio | 8,000 | 69 | ||||||
Keisei Electric Railway | 24,000 | 256 | ||||||
Keyence | 23,400 | 7,116 | ||||||
Kikkoman | 11,000 | 194 | ||||||
Kinki Sharyo (B) | 37,000 | 120 | ||||||
Kita-Nippon Bank | 1,700 | 44 | ||||||
Kubota | 31,000 | 441 | ||||||
Kyowa Exeo | 8,500 | 90 | ||||||
Lawson | 6,300 | 485 | ||||||
LIXIL Group | 5,300 | 105 | ||||||
Mabuchi Motor (B) | 166,200 | 8,985 | ||||||
Makita | 48,700 | 2,211 | ||||||
Marubeni | 11,000 | 82 | ||||||
Mazda Motor* | 38,000 | 113 | ||||||
Medipal Holdings | 4,500 | 64 | ||||||
Miraca Holdings | 2,800 | 136 | ||||||
Misawa Homes | 24,600 | 381 | ||||||
Mitsubishi Estate | 18,000 | 496 | ||||||
Mitsubishi Logistics | 18,000 | 334 | ||||||
Mitsubishi Materials | 17,000 | 48 | ||||||
Mitsubishi UFJ Financial Group | 7,400 | 44 | ||||||
Mitsui Fudosan | 40,000 | 1,121 | ||||||
Mitsui High-Tec | 6,200 | 44 | ||||||
Mitsui Home | 8,000 | 42 | ||||||
Mizuho Financial Group | 43,700 | 92 |
Description | Shares | Market Value ($ Thousands) | ||||||
MS&AD Insurance Group Holdings | 268,900 | $ | 5,901 | |||||
Namco Bandai Holdings | 37,000 | 654 | ||||||
NEC Fielding | 9,800 | 124 | ||||||
NEC Mobiling | 1,200 | 79 | ||||||
NEC Networks & System Integration | 17,900 | 352 | ||||||
Nichireki | 6,289 | 42 | ||||||
Nihon Unisys (B) | 17,700 | 154 | ||||||
Nintendo | 46,200 | 4,961 | ||||||
Nippo | 35,000 | 425 | ||||||
Nippon Building Fund, Cl A (A) | 23 | 318 | ||||||
Nippon Densetsu Kogyo | 5,000 | 52 | ||||||
Nippon Road | 9,000 | 39 | ||||||
Nippon Telegraph & Telephone | 210,800 | 9,191 | ||||||
Nippon Telegraph & Telephone ADR | 164,263 | 3,571 | ||||||
Nishimatsu Construction | 24,000 | 39 | ||||||
Nissan Tokyo Sales Holdings | 22,000 | 76 | ||||||
Nisshin Fudosan | 13,200 | 100 | ||||||
Nitto Denko | 11,700 | 692 | ||||||
Nomura Holdings | 179,100 | 1,098 | ||||||
Nomura Real Estate Holdings | 69,200 | 1,532 | ||||||
North Pacific Bank | 390,800 | 1,316 | ||||||
NTT Data | 139 | 463 | ||||||
Nuflare Technology | 11 | 68 | ||||||
Obayashi | 10,000 | 48 | ||||||
Odakyu Electric Railway | 4,000 | 50 | ||||||
Oita Bank | 16,000 | 60 | ||||||
Olympus* | 1,800 | 42 | ||||||
Ono Pharmaceutical | 1,200 | 73 | ||||||
Oracle Japan | 4,800 | 217 | ||||||
Oriental Land | 3,000 | 488 | ||||||
ORIX | 8,500 | 107 | ||||||
Otsuka | 1,100 | 119 | ||||||
Otsuka Holdings | 54,100 | 1,896 | ||||||
Panasonic* | 204,900 | 1,423 | ||||||
Park24 | 13,100 | 257 | ||||||
Relo Holdings | 1,400 | 60 | ||||||
Ricoh | 19,000 | 203 | ||||||
Rohm | 66,200 | 2,426 | ||||||
Round One | 6,500 | 47 | ||||||
Sankyo | 104,300 | 4,935 | ||||||
Santen Pharmaceutical | 1,400 | 66 | ||||||
Secom | 73,700 | 3,797 | ||||||
Seino Holdings | 90,000 | 778 | ||||||
Sekisui Chemical | 594,000 | 6,511 | ||||||
Sekisui House | 222,000 | 3,016 | ||||||
Sekisui Jushi | 5,000 | 64 | ||||||
Seven & I Holdings | 337,700 | 11,173 | ||||||
Shidax | 6,900 | 36 | ||||||
Shimano | 4,600 | 388 | ||||||
Shin-Etsu Chemical | 135,200 | 8,975 | ||||||
Shinko Shoji | 5,000 | 47 | ||||||
Shinmaywa Industries | 15,000 | 118 | ||||||
Shionogi | 24,300 | 501 | ||||||
Shiseido | 407,200 | 5,739 | ||||||
Showa | 39,300 | 418 | ||||||
SKY Perfect JSAT Holdings | 196 | 92 | ||||||
SMC (B) | 87,900 | 16,973 | ||||||
Softbank | 103,000 | 4,748 | ||||||
Sojitz | 370,700 | 571 |
4 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
Sony Financial Holdings | 207,500 | $ | 3,107 | |||||
Sumitomo Forestry | 15,700 | 169 | ||||||
Sumitomo Mitsui Financial Group | 282,700 | 11,335 | ||||||
Sumitomo Mitsui Trust Holdings | 1,161,220 | 5,464 | ||||||
Sumitomo Realty & Development | 48,000 | 1,833 | ||||||
Suruga Bank | 33,000 | 532 | ||||||
Suzuken | 23,800 | 885 | ||||||
Suzuki Motor | 233,400 | 5,233 | ||||||
Sysmex | 13,600 | 836 | ||||||
T&D Holdings | 2,600 | 31 | ||||||
Tobu Railway | 36,000 | 205 | ||||||
Toho Gas | 9,000 | 59 | ||||||
Toho Holdings | 45,100 | 1,042 | ||||||
Tokai | 2,800 | 86 | ||||||
Token | 860 | 58 | ||||||
Tokyo Electron | 79,600 | 3,521 | ||||||
Tokyu Land | 80,000 | 745 | ||||||
Topre | 4,100 | 41 | ||||||
Torii Pharmaceutical | 1,700 | 41 | ||||||
Toshiba TEC | 108,000 | 637 | ||||||
Toyoda Gosei | 7,600 | 176 | ||||||
Toyota Motor | 349,800 | 18,057 | ||||||
Toyota Motor ADR | 25,066 | 2,573 | ||||||
Toyota Tsusho | 42,600 | 1,104 | ||||||
TS Tech | 7,100 | 202 | ||||||
Tsumura | 10,900 | 402 | ||||||
Wacoal Holdings | 197,704 | 2,127 | ||||||
Warabeya Nichiyo | 13,300 | 217 | ||||||
Watabe Wedding | 6,395 | 51 | ||||||
Yahoo Japan | 409 | 188 | ||||||
Yakult Honsha (B) | 24,400 | 986 | ||||||
Yamazen | 7,600 | 50 | ||||||
Yellow Hat | 12,500 | 194 | ||||||
Yokogawa Electric | 39,700 | 399 | ||||||
Yuasa Trading | 38,000 | 81 | ||||||
|
| |||||||
322,079 | ||||||||
|
| |||||||
Malta — 0.0% | ||||||||
BGP Holdings* | 198,683 | — | ||||||
|
| |||||||
Mexico — 0.0% | ||||||||
Grupo Financiero Banorte, Cl O | 70,100 | 560 | ||||||
|
| |||||||
Netherlands — 4.6% | ||||||||
Aegon | 105,711 | 636 | ||||||
Akzo Nobel | 298,975 | 18,976 | ||||||
ASML Holding | 65,736 | 4,421 | ||||||
Boskalis Westminster | 1,288 | 51 | ||||||
European Aeronautic Defence and Space | 75,342 | 3,834 | ||||||
Gemalto | 18,312 | 1,597 | ||||||
Heineken | 78,076 | 5,884 | ||||||
ING Groep | 459,224 | 3,259 | ||||||
Koninklijke Ahold | 636,066 | 9,746 | ||||||
Koninklijke Philips Electronics | 29,712 | 879 | ||||||
Koninklijke Vopak | 13,437 | 810 | ||||||
PostNL* | 881,986 | 1,764 | ||||||
QIAGEN* | 2,374 | 49 | ||||||
Reed Elsevier | 843,161 | 14,443 | ||||||
TNT Express | 932,557 | 6,835 | ||||||
Unilever | 325,500 | 13,332 | ||||||
Wolters Kluwer | 342,470 | 7,477 | ||||||
Ziggo | 2,620 | 92 |
Description | Shares | Market Value ($ Thousands) | ||||||
$ | 94,085 | |||||||
|
| |||||||
New Zealand — 0.1% | ||||||||
Contact Energy | 63,551 | 303 | ||||||
Fletcher Building | 136,007 | 975 | ||||||
Telecom of New Zealand | 471,204 | 923 | ||||||
|
| |||||||
2,201 | ||||||||
|
| |||||||
Norway — 1.5% | ||||||||
Aker Solutions | 2,672 | 50 | ||||||
DnB | 961,047 | 14,090 | ||||||
Gjensidige Forsikring | 34,141 | 563 | ||||||
Orkla | 412,717 | 3,299 | ||||||
Seadrill | 54,455 | 1,973 | ||||||
Statoil | 394,901 | 9,545 | ||||||
Telenor | 5,339 | 117 | ||||||
|
| |||||||
29,637 | ||||||||
|
| |||||||
Portugal — 0.1% | ||||||||
Energias de Portugal* | 198,895 | 612 | ||||||
Galp Energia, Cl B | 25,039 | 392 | ||||||
|
| |||||||
1,004 | ||||||||
|
| |||||||
Russia — 0.7% | ||||||||
Gazprom ADR | 273,651 | 2,326 | ||||||
NovaTek GDR | 20,703 | 2,232 | ||||||
Sberbank of Russia ADR | 752,179 | 9,590 | ||||||
Surgutneftegas ADR | 8,414 | 75 | ||||||
|
| |||||||
14,223 | ||||||||
|
| |||||||
Singapore — 1.3% | ||||||||
Breadtalk Group* | 65,000 | 49 | ||||||
CapitaCommercial Trust (A) | 442,000 | 565 | ||||||
CapitaLand | 364,000 | 1,036 | ||||||
City Developments | 16,000 | 146 | ||||||
ComfortDelgro | 311,000 | 479 | ||||||
DBS Group Holdings | 339,000 | 4,372 | ||||||
Jardine Cycle & Carriage | 1,000 | 41 | ||||||
Keppel (B) | 179,110 | 1,617 | ||||||
Keppel Land | 166,000 | 527 | ||||||
Oversea-Chinese Banking | 43,000 | 369 | ||||||
SembCorp Industries | 816,600 | 3,416 | ||||||
SembCorp Marine (B) | 1,240,000 | 4,428 | ||||||
Singapore Airlines | 426,000 | 3,733 | ||||||
Singapore Land | 6,000 | 45 | ||||||
Singapore Technologies Engineering (B) | 254,000 | 882 | ||||||
Singapore Telecommunications | 44,000 | 127 | ||||||
STATS ChipPAC* | 236,000 | 86 | ||||||
United Overseas Bank | 275,000 | 4,518 | ||||||
UOL Group | 98,000 | 551 | ||||||
|
| |||||||
26,987 | ||||||||
|
| |||||||
South Africa — 0.3% | ||||||||
AngloGold Ashanti ADR | 113,073 | 2,663 | ||||||
Gold Fields | 240,927 | 1,839 | ||||||
Impala Platinum Holdings | 61,491 | 906 | ||||||
Liberty Holdings (B) | 10,745 | 140 | ||||||
|
| |||||||
5,548 | ||||||||
|
| |||||||
South Korea — 1.8% | ||||||||
Hyundai Motor* | 34,558 | 6,958 | ||||||
Jeonbuk Bank | 10,290 | 52 | ||||||
KB Financial Group ADR | 56,137 | 1,855 | ||||||
KT ADR | 279,600 | 4,392 | ||||||
KT&G | 84,776 | 5,837 | ||||||
LG Display* | 62,160 | 1,782 |
5 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
Meritz Finance Group* | 22,180 | $ | 80 | |||||
Samsung Electronics | 9,173 | 12,590 | ||||||
SK Telecom ADR | 155,597 | 2,780 | ||||||
|
| |||||||
36,326 | ||||||||
|
| |||||||
Spain — 0.9% |
| |||||||
Acciona | 861 | 47 | ||||||
Amadeus IT Holding, Cl A* | 49,169 | 1,328 | ||||||
Banco Popular Espanol* | 2,034,164 | 1,507 | ||||||
Distribuidora Internacional de Alimentacion* | 133,296 | 922 | ||||||
Enagas* | 21,738 | 506 | ||||||
Endesa* | 8,158 | 172 | ||||||
Ferrovial | 54,391 | 863 | ||||||
Gas Natural | 16,554 | 293 | ||||||
Grifols* | 29,637 | 1,099 | ||||||
Iberdrola | 10,838 | 51 | ||||||
Inditex | 4,872 | 646 | ||||||
Indra Sistemas* | 424,772 | 5,063 | ||||||
Red Electrica | 2,622 | 132 | ||||||
Tecnicas Reunidas* | 122,198 | 5,725 | ||||||
Zardoya Otis | 4,372 | 58 | ||||||
|
| |||||||
18,412 | ||||||||
|
| |||||||
Sweden — 2.3% |
| |||||||
Assa Abloy, Cl B | 31,254 | 1,276 | ||||||
Atlas Copco, Cl B | 603 | 15 | ||||||
Boliden | 16,775 | 270 | ||||||
Electrolux, Ser B | 93,409 | 2,377 | ||||||
Elekta, Cl B | 385,155 | 5,849 | ||||||
Getinge, Cl B | 9,401 | 287 | ||||||
Hexagon, Cl B | 27,335 | 745 | ||||||
Investor, Cl B | 6,088 | 176 | ||||||
Lundin Petroleum* | 13,964 | 302 | ||||||
Nordea Bank | 651,431 | 7,378 | ||||||
Sandvik | 380,719 | 5,854 | ||||||
Skandinaviska Enskilda Banken, Cl A | 522,498 | 5,248 | ||||||
Svenska Cellulosa, Cl B | 14,711 | 379 | ||||||
Svenska Handelsbanken, Cl A | 30,556 | 1,306 | ||||||
Swedbank, Cl A | 125,552 | 2,856 | ||||||
Swedish Match | 7,922 | 246 | ||||||
Telefonaktiebolaget LM Ericsson, Cl B | 799,138 | 9,958 | ||||||
Telefonaktiebolaget LM Ericsson ADR | 169,555 | 2,136 | ||||||
|
| |||||||
46,658 | ||||||||
|
| |||||||
Switzerland — 9.3% |
| |||||||
Actelion | 6,494 | 353 | ||||||
Adecco | 878 | 48 | ||||||
Baloise Holding | 6,426 | 601 | ||||||
Compagnie Financiere Richemont | 15,061 | 1,181 | ||||||
Credit Suisse Group | 382,586 | 10,033 | ||||||
EMS-Chemie Holding | 1,471 | 442 | ||||||
Georg Fischer | 646 | 273 | ||||||
Givaudan | 13,281 | 16,303 | ||||||
Holcim | 1,477 | 118 | ||||||
Julius Baer Group | 145,359 | 5,649 | ||||||
Nestle | 318,040 | 22,986 | ||||||
Novartis | 326,185 | 23,163 | ||||||
OC Oerlikon | 157,324 | 1,863 | ||||||
Partners Group Holding | 19,438 | 4,795 | ||||||
Roche Holding | 154,046 | 35,842 |
Description | Shares | Market Value ($ Thousands) | ||||||
Schindler Holding | 359 | $ | 51 | |||||
Schindler Holding PC | 881 | 129 | ||||||
Schweiter Technologies | 76 | 47 | ||||||
SGS | 4,654 | 11,407 | ||||||
Sika | 2,537 | 6,159 | ||||||
Sulzer | 56,389 | 9,629 | ||||||
Swiss Life Holding | 15,816 | 2,343 | ||||||
Swiss Re | 27,389 | 2,226 | ||||||
Syngenta | 17,116 | 7,136 | ||||||
UBS | 199,112 | 3,064 | ||||||
UBS Foreign | 522,313 | 8,001 | ||||||
Weatherford International* | 173,012 | 2,100 | ||||||
Zurich Insurance Group | 48,573 | 13,511 | ||||||
|
| |||||||
189,453 | ||||||||
|
| |||||||
Taiwan — 0.1% |
| |||||||
Hon Hai Precision Industry GDR | 22,507 | 125 | ||||||
United Microelectronics ADR | 597,019 | 1,075 | ||||||
|
| |||||||
1,200 | ||||||||
|
| |||||||
Thailand — 0.0% |
| |||||||
Krung Thai Bank | 390,300 | 333 | ||||||
|
| |||||||
Turkey — 0.1% |
| |||||||
Turkiye Is Bankasi, Cl C | 362,755 | 1,395 | ||||||
|
| |||||||
United Kingdom — 17.9% |
| |||||||
3i Group | 126,372 | 607 | ||||||
Aberdeen Asset Management | 184,071 | 1,200 | ||||||
Afren* | 1,690,400 | 3,642 | ||||||
Aggreko | 16,236 | 440 | ||||||
Amlin | 991,919 | 6,382 | ||||||
Antofagasta | 17,736 | 265 | ||||||
ARM Holdings | 21,524 | 301 | ||||||
Associated British Foods | 62,740 | 1,812 | ||||||
AstraZeneca | 94,049 | 4,715 | ||||||
Aviva | 1,249,861 | 5,625 | ||||||
Babcock International Group | 67,749 | 1,120 | ||||||
BAE Systems | 931,421 | 5,580 | ||||||
Balfour Beatty | 1,475,971 | 5,265 | ||||||
Barclays | 3,070,768 | 13,584 | ||||||
Barratt Developments* | 199,925 | 833 | ||||||
Berendsen | 22,894 | 273 | ||||||
BG Group | 1,003,665 | 17,216 | ||||||
BHP Billiton | 401,804 | 11,691 | ||||||
BP ADR | 68,252 | 2,890 | ||||||
BP | 826,512 | 5,775 | ||||||
British American Tobacco | 236,142 | 12,654 | ||||||
British Land (A) | 53,180 | 439 | ||||||
British Sky Broadcasting Group | 4,321 | 58 | ||||||
BT Group, Cl A | 537,997 | 2,272 | ||||||
Bunzl | 371,034 | 7,300 | ||||||
Cairn Energy* | 33,459 | 139 | ||||||
Capita | 420,414 | 5,742 | ||||||
Carnival | 16,813 | 589 | ||||||
Centrica | 1,152,573 | 6,439 | ||||||
Compass Group | 87,647 | 1,119 | ||||||
Cranswick | 3,030 | 45 | ||||||
Croda International | 324 | 13 | ||||||
Diageo | 295,966 | 9,331 | ||||||
EnQuest* | 47,528 | 104 | ||||||
Eurasian Natural Resources | 163,115 | 610 | ||||||
Fresnillo | 17,612 | 363 |
6 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
GlaxoSmithKline | 142,432 | $ | 3,329 | |||||
Hammerson (A) | 84,691 | 633 | ||||||
Hargreaves Lansdown | 39,667 | 523 | ||||||
Home Retail Group | 3,125,201 | 7,369 | ||||||
HSBC Holdings (B) | 1,793,788 | 19,048 | ||||||
ICAP | 722,600 | 3,188 | ||||||
IMI | 4,151 | 82 | ||||||
Imperial Tobacco Group | 112,703 | 3,937 | ||||||
Informa | 400,503 | 3,204 | ||||||
Inmarsat | 89,350 | 954 | ||||||
InterContinental Hotels Group | 38,372 | 1,170 | ||||||
Intertek Group | 30,983 | 1,597 | ||||||
ITV | 489,463 | 962 | ||||||
J Sainsbury | 168,904 | 971 | ||||||
Johnson Matthey | 40,414 | 1,412 | ||||||
Kazakhmys | 111,185 | 663 | ||||||
Kingfisher | 30,992 | 136 | ||||||
Land Securities Group (A) | 61,883 | 779 | ||||||
Legal & General Group | 615,761 | 1,616 | ||||||
Lloyds Banking Group* | 5,635,255 | 4,169 | ||||||
London Stock Exchange Group | 1,018 | 20 | ||||||
Marks & Spencer Group | 9,539 | 57 | ||||||
Meggitt (B) | 1,628 | 12 | ||||||
Michael Page International | 481,352 | 3,085 | ||||||
Micro Focus International | 26,141 | 272 | ||||||
Mondi | 75,860 | 1,030 | ||||||
National Grid | 37,919 | 441 | ||||||
Next | 31,382 | 2,082 | ||||||
Novae Group | 5,008 | 35 | ||||||
Old Mutual | 430,658 | 1,326 | ||||||
Pearson | 24,165 | 435 | ||||||
Persimmon | 20,741 | 337 | ||||||
Petrofac | 546,001 | 11,888 | ||||||
Premier Oil* | 782,626 | 4,622 | ||||||
Prudential | 567,068 | 9,176 | ||||||
QinetiQ Group | 261,900 | 825 | ||||||
Randgold Resources | 3,554 | 307 | ||||||
Reed Elsevier | 598,820 | 7,106 | ||||||
Rexam | 734,978 | 5,890 | ||||||
Rio Tinto | 240,567 | 11,276 | ||||||
Rolls-Royce Holdings | 422,714 | 7,257 | ||||||
Royal Bank of Scotland Group* | 112,455 | 471 | ||||||
Royal Dutch Shell, Cl A | 405,667 | 13,109 | ||||||
Royal Dutch Shell, Cl B | 150,818 | 5,007 | ||||||
Royal Dutch Shell ADR, Cl B | 41,890 | 2,799 | ||||||
SABMiller | 136,295 | 7,173 | ||||||
Sage Group | 6,158 | 32 | ||||||
Schroders | 16,551 | 530 | ||||||
Serco Group | 5,408 | 52 | ||||||
Severn Trent | 2,636 | 69 | ||||||
Shire | 242,151 | 7,373 | ||||||
SSE | 4,024 | 91 | ||||||
Standard Life | 436,804 | 2,424 | ||||||
Subsea 7 | 230,475 | 5,385 | ||||||
Tate & Lyle | 9,166 | 118 | ||||||
Taylor Wimpey | 179,659 | 248 | ||||||
Tesco | 2,613,897 | 15,153 | ||||||
Tullow Oil | 233,575 | 4,369 | ||||||
Unilever | 167,042 | 7,066 | ||||||
United Utilities Group | 56,709 | 610 | ||||||
Vodafone Group | 4,992,620 | 14,155 | ||||||
Weir Group | 4,527 | 156 |
Description | Shares/Face Amount ($ Thousands) | Market Value ($ Thousands) | ||||||
Whitbread | 36,376 | $ | 1,419 | |||||
William Hill | 209,849 | 1,179 | ||||||
Willis Group Holdings | 139,700 | 5,517 | ||||||
Wolseley | 48,651 | 2,419 | ||||||
WPP | 511,316 | 8,149 | ||||||
|
| |||||||
364,727 | ||||||||
|
| |||||||
United States — 1.0% |
| |||||||
Alon USA Energy | 20,573 | 392 | ||||||
Autoliv (B) | 43,900 | 3,035 | ||||||
Calamos Asset Management, Cl A | 12,204 | 144 | ||||||
Cambrex* | 6,923 | 89 | ||||||
Cognizant Technology Solutions ADR, Cl A* | 42,200 | 3,233 | ||||||
Computer Sciences | 63,635 | 3,133 | ||||||
Delek US Holdings | 3,208 | 127 | ||||||
John B Sanfilippo & Son | 2,229 | 45 | ||||||
Magnachip Semiconductor* | 7,654 | 132 | ||||||
Manpower | 25,236 | 1,431 | ||||||
Marathon Petroleum | 5,121 | 459 | ||||||
Newmont Mining | 94,700 | 3,967 | ||||||
Photronics* | 7,054 | 47 | ||||||
Republic Airways Holdings* | 17,467 | 202 | ||||||
Tesoro | 35,321 | 2,068 | ||||||
Town Sports International Holdings | 4,210 | 40 | ||||||
Unisys* | 7,054 | 160 | ||||||
Valero Energy | 47,932 | 2,180 | ||||||
Western Refining | 1,475 | 52 | ||||||
|
| |||||||
20,936 | ||||||||
|
| |||||||
Total Common Stock | 1,880,182 | |||||||
|
| |||||||
PREFERRED STOCK — 0.6% | ||||||||
Brazil — 0.0% |
| |||||||
Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR | 22,725 | 1,210 | ||||||
|
| |||||||
Germany — 0.6% |
| |||||||
Draegerwerk | 2,624 | 339 | ||||||
Henkel | 36,065 | 3,471 | ||||||
Porsche | 2,981 | 218 | ||||||
ProSiebenSat.1 Media | 18,675 | 667 | ||||||
Sto | 314 | 48 | ||||||
Volkswagen | 34,305 | 6,815 | ||||||
|
| |||||||
11,558 | ||||||||
|
| |||||||
Total Preferred Stock | 12,768 | |||||||
|
| |||||||
U.S. TREASURY OBLIGATIONS (D)(E) — 0.3% |
| |||||||
U.S. Treasury Bills | ||||||||
0.083%, 06/27/2013 | $ | 5,152 | 5,151 | |||||
0.064%, 07/25/2013 | 310 | 310 | ||||||
|
| |||||||
Total U.S. Treasury Obligations | 5,461 | |||||||
|
| |||||||
AFFILIATED PARTNERSHIP — 2.4% |
| |||||||
SEI Liquidity Fund, L.P. | ||||||||
0.120% †**(F) | 48,764,708 | 48,765 | ||||||
|
| |||||||
Total Affiliated Partnership | 48,765 | |||||||
|
|
7 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Equity Fund
March 31, 2013
Description | Shares/Face Amount (1) (Thousands) | Market Value ($ Thousands) | ||||||
CASH EQUIVALENT — 4.7% |
| |||||||
SEI Daily Income Trust, Prime Obligation Fund, Cl A 0.020% †** | 94,909,952 | $ | 94,910 | |||||
|
| |||||||
Total Cash Equivalent |
| 94,910 | ||||||
|
| |||||||
TIME DEPOSITS — 2.3% |
| |||||||
United States — 2.3% |
| |||||||
Brown Brothers Harriman | ||||||||
4.150%, 04/01/2013 | ZAR | 16 | 2 | |||||
2.070%, 04/01/2013 | AUD | 248 | 258 | |||||
1.450%, 04/01/2013 | NZD | 238 | 199 | |||||
0.650%, 04/01/2013 | NOK | 717 | 123 | |||||
0.233%, 04/01/2013 | CAD | 2 | 2 | |||||
0.071%, 04/01/2013 | GBP | 761 | 1,156 | |||||
0.050%, 04/01/2013 | SEK | 1,337 | 205 | |||||
0.030%, 04/01/2013 | 38,865 | 38,865 | ||||||
0.010%, 04/01/2013 | SGD | 9 | 7 | |||||
0.005%, 04/01/2013 | JPY | 242,955 | 2,580 | |||||
0.005%, 04/01/2013 | HKD | 7,773 | 1,001 | |||||
0.001%, 04/01/2013 | CHF | 1,188 | 1,251 | |||||
(0.028)%, 04/01/2013 | EUR | 403 | 517 | |||||
(0.150)%, 04/01/2013 | DKK | 517 | 89 | |||||
|
| |||||||
Total Time Deposits |
| 46,255 | ||||||
|
| |||||||
Total Investments — 102.7% |
| $ | 2,088,341 | |||||
|
|
A list of the open futures contracts held by the Fund at March 31, 2013, is as follows:
Type of Contract | Number of Contracts Long | Expiration Date | Unrealized Appreciation (Depreciation) ($ Thousands) | |||||||||
DJ Euro Stoxx 50 Index | 1,010 | Jun-2013 | $ | (888 | ) | |||||||
FTSE 100 Index | 305 | Jun-2013 | (93 | ) | ||||||||
Hang Seng Index | 36 | Apr-2013 | 27 | |||||||||
SPI 200 Index | 83 | Jun-2013 | (193 | ) | ||||||||
Topix Index | 198 | Jun-2013 | 776 | |||||||||
|
| |||||||||||
$ | (371 | ) | ||||||||||
|
|
For the six months ended March 31, 2013, 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 period.
Percentages are based on a Net Assets of $2,034,441 ($ Thousands).
* | Non-income producing security. |
** | Rate shown is the 7-day effective yield as of March 31, 2013. |
† | 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, 2013. The total market value of securities on loan at March 31, 2013 was $42,386 ($ Thousands) (See Note 8). |
(C) | Securities considered illiquid. The total market value of such securities as of March 31, 2013 was $346 ($ Thousands) and represented 0.0% of Net Assets. |
(D) | All or a portion of this security has been pledged as collateral for open futures contracts. |
(E) | The rate reported 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, 2013 was $48,765 ($ 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
GDR — Global Depositary Receipt
HKD — Hong Kong Dollar
JPY — Japanese Yen
L.P. — Limited Partnership
NOK — Norwegian Krone
NZD — New Zealand Dollar
SEK — Swedish Krone
SGD — Singapore Dollar
Ser — Series
SPI — Share Price Index
USD — U.S. Dollar
ZAR — South African Rand
The following is a summary of the inputs used as of March 31, 2013, in valuing the Fund’s investments carried at value ($ Thousands):
Investments in Securities | Level 1 | Level 2 | Level 3(1) | Total | ||||||||||||
Common Stock | $ | 1,879,836 | $ | — | $ | 346 | $ | 1,880,182 | ||||||||
Preferred Stock | 12,768 | — | — | 12,768 | ||||||||||||
U.S. Treasury Obligations | — | 5,461 | — | 5,461 | ||||||||||||
Affiliated Partnership | — | 48,765 | — | 48,765 | ||||||||||||
Cash Equivalent | 94,910 | — | — | 94,910 | ||||||||||||
Time Deposits | — | 46,255 | — | 46,255 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | 1,987,514 | $ | 100,481 | $ | 346 | $ | 2,088,341 | ||||||||
|
|
|
|
|
|
|
|
Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Futures Contracts* | $ | (371 | ) | $ | — | $ | — | $ | (371 | ) | ||||||
|
|
|
|
|
|
|
|
(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. |
* | Futures contracts are valued at the unrealized depreciation on the instrument. |
For the six months ended March 31, 2013, there were transfers between Level 1 and Level 2 assets and liabilities. The primary reason for changes in the classifications between Levels 1 and 2 occurs when foreign equity securities are fair valued using other observable market-based inputs in place of the closing exchange price due to events occurring after the close of the exchange or market on which the investment is principally traded.
For the six months ended March 31, 2013, there were no transfers from Level 2 into Level 3 assets and liabilities.
Amounts designated as “—” are $O or have been rounded to $O.
The accompanying notes are an integral part of the financial statements.
8 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK — 89.7% | ||||||||
Argentina — 0.2% | ||||||||
Tenaris ADR | 26,540 | $ | 1,082 | |||||
YPF ADR | 50,800 | 726 | ||||||
|
| |||||||
1,808 | ||||||||
|
| |||||||
Austria — 0.1% | ||||||||
Erste Group Bank | 34,270 | 954 | ||||||
|
| |||||||
Belgium — 0.2% | ||||||||
KBC Groep | 50,471 | 1,738 | ||||||
|
| |||||||
Brazil — 8.1% | ||||||||
All America Latina Logistica | 298,499 | 1,491 | ||||||
Arteris | 114,516 | 1,286 | ||||||
B2W Cia Global Do Varejo* | 117,300 | 864 | ||||||
Banco Bradesco ADR | 263,874 | 4,491 | ||||||
Banco do Brasil | 336,180 | 4,564 | ||||||
Banco Santander Brasil | 185,911 | 1,343 | ||||||
Banco Santander Brasil ADR | 219,415 | 1,593 | ||||||
BM&FBovespa | 624,984 | 4,216 | ||||||
BR Malls Participacoes | 136,500 | 1,698 | ||||||
BR Properties | 12,500 | 138 | ||||||
Brasil Insurance Participacoes e Administracao | 176,700 | 1,958 | ||||||
Braskem ADR | 86,910 | 1,177 | ||||||
BRF - Brasil Foods ADR | 165,120 | 3,651 | ||||||
CCR | 13,600 | 138 | ||||||
Cia Hering | 102,997 | 1,839 | ||||||
Cia Siderurgica Nacional | 66,900 | 302 | ||||||
Cielo | 8,300 | 244 | ||||||
Cosan, Cl A | 81,869 | 1,596 | ||||||
Cosan Industria e Comercio | 84,889 | 1,904 | ||||||
Cyrela Brazil Realty Empreendimentos e Participacoes | 384,167 | 3,293 | ||||||
Embraer ADR | 44,175 | 1,576 | ||||||
Even Construtora e Incorporadora | 324,868 | 1,575 | ||||||
Fibria Celulose ADR* | 226,685 | 2,736 | ||||||
Gerdau ADR | 397,726 | 3,066 | ||||||
Gol Linhas Aereas Inteligentes ADR*(A) | 199,445 | 1,187 | ||||||
Helbor Empreendimentos | 80,549 | 538 | ||||||
Hypermarcas* | 434,960 | 3,418 | ||||||
Kroton Educacional* | 144,424 | 1,854 | ||||||
Linx* | 7,000 | 110 | ||||||
Localiza Rent a Car | 78,412 | 1,400 | ||||||
Lojas Renner | 9,400 | 352 | ||||||
M Dias Branco | 8,821 | 348 | ||||||
MRV Engenharia e Participacoes | 281,832 | 1,169 | ||||||
Petroleo Brasileiro | 84,822 | 707 | ||||||
Petroleo Brasileiro ADR | 267,965 | 4,440 | ||||||
Porto Seguro | 9,900 | 138 | ||||||
Qualicorp* | 173,700 | 1,745 | ||||||
Santos Brasil Participacoes | 74,220 | 1,109 | ||||||
Sul America | 31,313 | 313 | ||||||
Telefonica Brasil ADR | 3,100 | 83 | ||||||
Tim Participacoes | 35,100 | 155 | ||||||
Tim Participacoes ADR | 111,500 | 2,440 | ||||||
Totvs | 227,637 | 4,665 | ||||||
Ultrapar Participacoes | 3,500 | 88 |
Description | Shares | Market Value ($ Thousands) | ||||||
Vale | 61,092 | $ | 1,054 | |||||
Vale ADR, Cl B | 239,305 | 4,138 | ||||||
|
| |||||||
78,190 | ||||||||
|
| |||||||
Canada — 1.2% | ||||||||
Africa Oil* | 164,934 | 1,166 | ||||||
Alamos Gold | 102,500 | 1,407 | ||||||
B2Gold* | 295,679 | 899 | ||||||
Pacific Rubiales Energy | 337,634 | 7,124 | ||||||
Yamana Gold | 61,773 | 948 | ||||||
|
| |||||||
11,544 | ||||||||
|
| |||||||
Chile — 0.7% | ||||||||
Banco de Chile | 611,747 | 96 | ||||||
Banco Santander Chile ADR | 24,127 | 687 | ||||||
Banco Santander Chile* | 18,126,041 | 1,284 | ||||||
Cia Cervecerias Unidas ADR | 13,260 | 439 | ||||||
Enersis ADR | 46,260 | 890 | ||||||
Latam Airlines Group ADR | 30,545 | 664 | ||||||
Ripley | 841,713 | 963 | ||||||
Sociedad Quimica y Minera de Chile ADR | 27,294 | 1,514 | ||||||
|
| |||||||
6,537 | ||||||||
|
| |||||||
China — 11.6% | ||||||||
AAC Technologies Holdings | 1,416,980 | 6,809 | ||||||
Agricultural Bank of China | 11,362,732 | 5,445 | ||||||
Anta Sports Products | 399,000 | 341 | ||||||
Baidu ADR* | 64,500 | 5,657 | ||||||
Bank of China | 10,326,105 | 4,789 | ||||||
Bank of Communications* | 3,072,347 | 2,299 | ||||||
China BlueChemical | 450,000 | 279 | ||||||
China Construction Bank | 11,460,993 | 9,361 | ||||||
China Liansu Group Holdings | 2,649,400 | 1,502 | ||||||
China Merchants Bank* | 1,113,576 | 2,358 | ||||||
China Minsheng Banking* | 195,500 | 249 | ||||||
China National Materials | 5,322,438 | 1,419 | ||||||
China Petroleum & Chemical* | 2,986,646 | 3,517 | ||||||
China Petroleum & Chemical ADR | 14,800 | 1,730 | ||||||
China Shanshui Cement Group* | 792,000 | 455 | ||||||
China Telecom | 3,100,000 | 1,561 | ||||||
China Vanke, Cl B* | 1,413,000 | 2,730 | ||||||
China Zhongwang Holdings* | 483,005 | 163 | ||||||
Chongqing Rural Commercial Bank | 2,337,612 | 1,250 | ||||||
Country Garden Holdings | 3,057,000 | 1,528 | ||||||
Daphne International Holdings | 2,220,000 | 2,788 | ||||||
Dongfeng Motor Group | 42,000 | 59 | ||||||
First Tractor* | 3,339,900 | 2,973 | ||||||
Giant Interactive Group ADR | 177,150 | 1,151 | ||||||
Great Wall Motor | 728,679 | 2,469 | ||||||
Guangzhou R&F Properties | 170,400 | 286 | ||||||
Harbin Electric | 564,682 | 459 | ||||||
Huaneng Power International* | 1,944,000 | 2,074 | ||||||
Industrial & Commercial Bank of China | 15,938,449 | 11,170 | ||||||
Inner Mongolia Yitai Coal, Cl B | 41,922 | 241 | ||||||
Jiangsu Expressway* | 400,000 | 400 | ||||||
Jiangxi Copper | 253,000 | 559 | ||||||
PetroChina | 2,384,119 | 3,127 | ||||||
PetroChina ADR | 25,653 | 3,382 | ||||||
PICC Property & Casualty | 970,000 | 1,246 | ||||||
Ping An Insurance Group | 403,000 | 3,125 | ||||||
Prince Frog International Holdings | 5,863,100 | 3,021 |
1 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
SINA* | 50,400 | $ | 2,449 | |||||
SOHO China | 1,384,528 | 1,156 | ||||||
Sohu.com* | 48,000 | 2,381 | ||||||
Tencent Holdings | 98,247 | 3,124 | ||||||
Tingyi Cayman Islands Holding | 668,000 | 1,743 | ||||||
Travelsky Technology* | 362,880 | 239 | ||||||
Tsingtao Brewery* | 266,000 | 1,696 | ||||||
Vipshop Holdings ADR* | 27,699 | 841 | ||||||
Yanzhou Coal Mining | 44,000 | 59 | ||||||
Zhejiang Expressway* | 380,000 | 300 | ||||||
Zhuzhou CSR Times Electric | 1,426,400 | 4,043 | ||||||
Zoomlion Heavy Industry Science and Technology* | 1,959,660 | 2,365 | ||||||
|
| |||||||
112,368 | ||||||||
|
| |||||||
Colombia — 0.8% | ||||||||
Almacenes Exito | 44,650 | 807 | ||||||
Bancolombia ADR, Cl R | 38,800 | 2,454 | ||||||
Ecopetrol | 1,022,117 | 2,827 | ||||||
Ecopetrol ADR | 38,400 | 2,094 | ||||||
|
| |||||||
8,182 | ||||||||
|
| |||||||
Cyprus — 0.4% | ||||||||
Eurasia Drilling GDR | 118,050 | 4,191 | ||||||
|
| |||||||
Czech Republic — 0.3% | ||||||||
CEZ* | 27,244 | 797 | ||||||
Komercni Banka | 10,373 | 1,980 | ||||||
|
| |||||||
2,777 | ||||||||
|
| |||||||
Guernsey — 0.0% | ||||||||
Etalon Group GDR*(B) | 56,800 | 284 | ||||||
|
| |||||||
Hong Kong — 5.7% | ||||||||
Chaoda Modern Agriculture*(C) | 2,056,181 | 291 | ||||||
China Everbright International | 3,430,100 | 2,461 | ||||||
China High Precision Automation Group (C) | 1,385,624 | 221 | ||||||
China Medical System Holdings | 1,202,500 | 1,221 | ||||||
China Mengniu Dairy | 1,181,815 | 3,395 | ||||||
China Mobile | 833,645 | 8,828 | ||||||
China Mobile ADR | 39,540 | 2,101 | ||||||
China State Construction International Holdings | 3,338,984 | 4,568 | ||||||
China Unicom Hong Kong ADR | 115,990 | 1,563 | ||||||
CNOOC | 2,003,407 | 3,851 | ||||||
CNOOC ADR | 10,110 | 1,936 | ||||||
Cosco International Holdings | 208,805 | 89 | ||||||
COSCO Pacific | 4,921 | 7 | ||||||
Dah Chong Hong Holdings | 416,300 | 394 | ||||||
Guangdong Investment | 226,000 | 199 | ||||||
Haier Electronics Group* | 1,644,000 | 2,622 | ||||||
Hengdeli Holdings | 9,112,000 | 2,547 | ||||||
KWG Property Holding | 772,870 | 484 | ||||||
Lenovo Group | 1,910,613 | 1,898 | ||||||
NagaCorp | 1,480,000 | 1,249 | ||||||
Shougang Fushan Resources Group | 1,318,000 | 587 | ||||||
Sino Biopharmaceutical | 3,016,000 | 2,106 | ||||||
SJM Holdings | 548,405 | 1,369 | ||||||
Skyworth Digital Holdings | 3,956,000 | 2,655 | ||||||
Sunny Optical Technology Group | 1,797,000 | 2,074 | ||||||
Techtronic Industries | 575,000 | 1,400 | ||||||
Vinda International Holdings | 1,534,000 | 2,190 |
Description | Shares | Market Value ($ Thousands) | ||||||
Xinyi Glass Holdings* | 3,336,944 | $ | 2,356 | |||||
Yuexiu Real Estate Investment (D) | 266,538 | 151 | ||||||
|
| |||||||
54,813 | ||||||||
|
| |||||||
Hungary — 0.0% | ||||||||
EGIS Pharmaceuticals* | 1,778 | 135 | ||||||
Richter Gedeon | 1,412 | 197 | ||||||
|
| |||||||
332 | ||||||||
|
| |||||||
India — 6.2% | ||||||||
Adani Ports and Special Economic Zone | 482,970 | 1,233 | ||||||
Asian Paints | 20,220 | 1,829 | ||||||
Axis Bank | 80,827 | 1,934 | ||||||
Bajaj Holdings and Investment | 12,648 | 212 | ||||||
Ballarpur Industries | 832,868 | 264 | ||||||
Bank of Baroda | 49,622 | 617 | ||||||
Bharti Infratel* | 213,899 | 704 | ||||||
Cairn India | 1,213,006 | 6,081 | ||||||
Chambal Fertilizers & Chemicals | 444,397 | 407 | ||||||
Corporation Bank | 14,494 | 102 | ||||||
Cummins India | 199,795 | 1,834 | ||||||
DLF | 547,879 | 2,366 | ||||||
Glenmark Pharmaceuticals | 191,897 | 1,634 | ||||||
Godrej Consumer Products* | 124,400 | 1,781 | ||||||
Grasim Industries | 26,182 | 1,355 | ||||||
HCL Technologies | 223,923 | 3,275 | ||||||
HDFC Bank ADR | 71,800 | 2,687 | ||||||
Hexaware Technologies | 162,156 | 252 | ||||||
ICICI Bank ADR | 165,354 | 7,094 | ||||||
Indiabulls Financial Services (C) | 209,523 | 1,019 | ||||||
Indian Bank | 140,424 | 455 | ||||||
Larsen & Toubro | 48,700 | 1,224 | ||||||
Mahindra & Mahindra GDR | 80,998 | 1,284 | ||||||
Maruti Udyog | 93,302 | 2,200 | ||||||
McLeod Russel India | 20,755 | 134 | ||||||
Muthoot Finance | 261,657 | 884 | ||||||
Oil & Natural Gas | 168,194 | 964 | ||||||
Oil India | 19,676 | 185 | ||||||
Petronet LNG | 386,780 | 964 | ||||||
Reliance Industries GDR (B) | 197,611 | 5,628 | ||||||
Rural Electrification | 328,254 | 1,259 | ||||||
Shriram Transport Finance | 269,646 | 3,445 | ||||||
State Bank of India | 39,940 | 1,523 | ||||||
Syndicate Bank | 229,078 | 464 | ||||||
Tata Chemicals | 103,576 | 613 | ||||||
UCO Bank | 227,884 | 234 | ||||||
Yes Bank | 247,200 | 1,951 | ||||||
|
| |||||||
60,091 | ||||||||
|
| |||||||
Indonesia — 2.8% | ||||||||
AKR Corporindo | 2,764,122 | 1,422 | ||||||
Aneka Tambang | 2,719,394 | 383 | ||||||
Astra Agro Lestari | 347,899 | 662 | ||||||
Astra International | 542,500 | 441 | ||||||
Bank Bukopin | 3,700,948 | 343 | ||||||
Bank Mandiri | 2,037,100 | 2,096 | ||||||
Bank Rakyat Indonesia Persero | 5,938,951 | 5,348 | ||||||
Holcim Indonesia | 560,662 | 208 | ||||||
Indo Tambangraya Megah | 109,000 | 398 | ||||||
Indocement Tunggal Prakarsa | 304,770 | 731 | ||||||
Indofood CBP Sukses Makmur | 379,934 | 375 | ||||||
Indofood Sukses Makmur | 191,500 | 147 | ||||||
Japfa Comfeed Indonesia | 577,631 | 562 |
2 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
Kalbe Farma | 4,996,465 | $ | 637 | |||||
Perusahaan Gas Negara Persero | 375,000 | 230 | ||||||
Perusahaan Perkebunan London Sumatra Indonesia | 3,241,411 | 644 | ||||||
Sampoerna Agro | 282,000 | 61 | ||||||
Semen Indonesia Persero | 1,267,700 | 2,309 | ||||||
Tambang Batubara Bukit Asam | 1,052,500 | 1,560 | ||||||
Telekomunikasi Indonesia | 3,715,116 | 4,205 | ||||||
Tower Bersama Infrastructure* | 1,849,300 | 1,151 | ||||||
United Tractors | 656,681 | 1,230 | ||||||
XL Axiata | 2,644,500 | 1,429 | ||||||
|
| |||||||
26,572 | ||||||||
|
| |||||||
Ireland — 0.1% | ||||||||
Kenmare Resources* | 2,189,608 | 965 | ||||||
|
| |||||||
Israel — 0.2% | ||||||||
Israel Chemicals | 145,495 | 1,882 | ||||||
|
| |||||||
Macau — 0.3% | ||||||||
Sands China | 550,100 | 2,852 | ||||||
|
| |||||||
Malaysia — 1.9% | ||||||||
Affin Holdings | 96,100 | �� | 106 | |||||
Alliance Financial Group | 221,100 | 314 | ||||||
AMMB Holdings | 187,700 | 397 | ||||||
Axiata Group* | 1,082,036 | 2,306 | ||||||
Berjaya Sports Toto | 323,894 | 431 | ||||||
British American Tobacco Malaysia | 36,051 | 724 | ||||||
CIMB Group Holdings | 29,500 | 73 | ||||||
Digi.Com | 450,101 | 673 | ||||||
DRB-Hicom | 1,012,972 | 828 | ||||||
Genting Malaysia | 742,356 | 868 | ||||||
Hong Leong Financial Group | 92,900 | 448 | ||||||
KLCC Property Holdings | 116,900 | 248 | ||||||
Kulim Malaysia | 300,000 | 353 | ||||||
Lafarge Malayan Cement | 51,587 | 166 | ||||||
Malaysia Building Society | 550,127 | 487 | ||||||
Media Prima | 151,347 | 117 | ||||||
Parkson Holdings | 423,018 | 642 | ||||||
Petronas Gas | 26,100 | 160 | ||||||
RHB Capital | 573,900 | 1,566 | ||||||
Telekom Malaysia* | 295,676 | 515 | ||||||
Top Glove | 1,123,028 | 1,958 | ||||||
UEM Land Holdings* | 2,310,100 | 2,037 | ||||||
UMW Holdings | 573,683 | 2,471 | ||||||
|
| |||||||
17,888 | ||||||||
|
| |||||||
Mexico — 5.9% | ||||||||
Alfa, Cl A | 1,339,820 | 3,271 | ||||||
America Movil, Ser L* | 1,687,774 | 1,788 | ||||||
America Movil ADR, Ser L | 77,975 | 1,634 | ||||||
Cemex ADR* | 301,658 | 3,683 | ||||||
Compartamos | 148,300 | 273 | ||||||
Desarrolladora Homex*(A) | 133,000 | 201 | ||||||
Empresas ICA* | 1,024,337 | 3,417 | ||||||
Empresas ICA ADR* | 142,080 | 1,884 | ||||||
Fibra Uno Administracion, Cl REIT (D) | 437,400 | 1,443 | ||||||
Fomento Economico Mexicano ADR | 29,055 | 3,298 |
Description | Shares | Market Value ($ Thousands) | ||||||
Genomma Lab Internacional, Cl B*(A) | 3,043,958 | $ | 7,443 | |||||
Gruma, Cl B* | 651,032 | 2,878 | ||||||
Grupo Carso, Ser A1 | 35,600 | 198 | ||||||
Grupo Financiero Banorte, Cl O | 799,651 | 6,387 | ||||||
Grupo Financiero Inbursa, Cl O | 153,300 | 447 | ||||||
Grupo Financiero Santander Mexico ADR* | 83,678 | 1,291 | ||||||
Grupo Herdez* | 32,875 | 121 | ||||||
Grupo Mexico, Ser B | 634,791 | 2,563 | ||||||
Grupo Modelo | 48,600 | 440 | ||||||
Grupo Sanborns* | 292,743 | 663 | ||||||
Grupo Televisa ADR | 245,897 | 6,543 | ||||||
Industrias, Cl B* | 48,333 | 421 | ||||||
Industrias Penoles | 15,530 | 737 | ||||||
Kimberly-Clark de Mexico, Cl A | 1,089,200 | 3,800 | ||||||
Wal-Mart de Mexico, Ser V | 639,118 | 2,090 | ||||||
|
| |||||||
56,914 | ||||||||
|
| |||||||
Netherlands — 0.5% | ||||||||
Yandex, Cl A* | 223,600 | 5,170 | ||||||
|
| |||||||
Peru — 0.6% | ||||||||
Credicorp | 29,900 | 4,965 | ||||||
Intercorp Financial Services, Ser INC | 8,266 | 331 | ||||||
|
| |||||||
5,296 | ||||||||
|
| |||||||
Philippines — 1.1% | ||||||||
Aboitiz Equity Ventures | 410,500 | 555 | ||||||
Alliance Global Group | 2,261,388 | 1,172 | ||||||
Bank of the Philippine Islands | 122,730 | 331 | ||||||
BDO Unibank* | 1,196,023 | 2,630 | ||||||
International Container Terminal Services | 1,129,284 | 2,549 | ||||||
Manila Electric | 3,990 | 32 | ||||||
Megaworld | 7,685,000 | 732 | ||||||
Nickel Asia | 214,350 | 126 | ||||||
Rizal Commercial Banking* | 66,500 | 114 | ||||||
SM Investments | 57,833 | 1,580 | ||||||
Universal Robina | 317,464 | 879 | ||||||
|
| |||||||
10,700 | ||||||||
|
| |||||||
Poland — 0.6% | ||||||||
Asseco Poland | 7,140 | 92 | ||||||
KGHM Polska Miedz | 45,193 | 2,188 | ||||||
PGE | 201,912 | 1,037 | ||||||
Polski Koncern Naftowy Orlen* | 66,028 | 1,042 | ||||||
Powszechna Kasa Oszczednosci Bank Polski | 114,973 | 1,219 | ||||||
Powszechny Zaklad Ubezpieczen | 2,941 | 365 | ||||||
|
| |||||||
5,943 | ||||||||
|
| |||||||
Russia — 7.0% | ||||||||
Alliance Oil* | 191,893 | 1,528 | ||||||
Gazprom ADR | 586,850 | 4,988 | ||||||
Gazprom Neft OAO ADR | 12,745 | 269 | ||||||
Gazprom OAO | 86,531 | 740 | ||||||
Globaltrans Investment GDR | 319,339 | 5,039 | ||||||
Lukoil ADR | 122,535 | 7,902 | ||||||
Magnit GDR | 109,338 | 4,937 | ||||||
Mail.ru Group GDR | 23,243 | 644 | ||||||
MegaFon OAO GDR* | 76,800 | 2,381 | ||||||
MMC Norilsk Nickel | 39,271 | 663 |
3 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
Mobile Telesystems ADR | 178,175 | $ | 3,695 | |||||
NovaTek GDR | 42,039 | 4,532 | ||||||
Phosagro OAO GDR | 58,979 | 832 | ||||||
Rosneft GDR | 75,453 | 576 | ||||||
Rosneft Oil GDR | 525,145 | 4,007 | ||||||
Sberbank of Russia ADR | 1,168,762 | 14,928 | ||||||
Severstal GDR | 49,315 | 438 | ||||||
Surgutneftegas ADR | 42,074 | 378 | ||||||
Tatneft ADR | 9,877 | 391 | ||||||
TMK GDR | 200,727 | �� | 2,397 | |||||
Uralkali GDR | 62,086 | 2,290 | ||||||
VTB Bank GDR | 683,814 | 2,151 | ||||||
X5 Retail Group GDR* | 104,557 | 1,756 | ||||||
|
| |||||||
67,462 | ||||||||
|
| |||||||
Singapore — 0.0% | ||||||||
China Yuchai International | 26,251 | 420 | ||||||
|
| |||||||
South Africa — 4.8% | ||||||||
ABSA Group | 18,939 | 319 | ||||||
African Bank Investments | 78,508 | 258 | ||||||
Anglo American Platinum* | 22,479 | 933 | ||||||
ArcelorMittal South Africa* | 151,530 | 468 | ||||||
AVI | 115,192 | 672 | ||||||
Barloworld | 228,106 | 2,374 | ||||||
Bidvest Group | 69,709 | 1,835 | ||||||
Exxaro Resources | 91,253 | 1,618 | ||||||
FirstRand | 331,855 | 1,160 | ||||||
Gold Fields | 94,239 | 719 | ||||||
Impala Platinum Holdings | 45,655 | 672 | ||||||
Imperial Holdings (A) | 76,968 | 1,757 | ||||||
Kumba Iron Ore | 13,970 | 746 | ||||||
Liberty Holdings (A) | 91,710 | 1,195 | ||||||
Life Healthcare Group Holdings | 863,290 | 3,244 | ||||||
Mondi | 79,997 | 1,082 | ||||||
MTN Group (A) | 278,024 | 4,875 | ||||||
Naspers, Cl N | 65,867 | 4,097 | ||||||
Nedbank Group | 3,137 | 65 | ||||||
Netcare | 235,287 | 507 | ||||||
Redefine Properties | 213,924 | 230 | ||||||
Remgro | 67,200 | 1,337 | ||||||
Reunert | 35,070 | 292 | ||||||
RMB Holdings | 57,121 | 258 | ||||||
Sanlam | 279,766 | 1,433 | ||||||
Sappi* | 491,023 | 1,531 | ||||||
Sasol | 52,704 | 2,331 | ||||||
Sasol ADR | 37,775 | 1,675 | ||||||
Shoprite Holdings | 112,430 | 2,232 | ||||||
Sibanye Gold* | 94,239 | 137 | ||||||
Spar Group | 34,162 | 422 | ||||||
Standard Bank Group | 308,041 | 3,960 | ||||||
Tiger Brands | 1,626 | 52 | ||||||
Truworths International | 17,336 | 170 | ||||||
Vodacom Group | 130,585 | 1,558 | ||||||
|
| |||||||
46,214 | ||||||||
|
| |||||||
South Korea — 12.2% | ||||||||
AMOREPACIFIC Group | 1,282 | 459 | ||||||
BS Financial Group | 155,118 | 2,133 | ||||||
Coway | 76,590 | 3,370 | ||||||
Daelim Industrial | 9,109 | 751 | ||||||
Daesang | 25,691 | 870 | ||||||
Daishin Securities* | 44,862 | 396 |
Description | Shares | Market Value ($ Thousands) | ||||||
Daou Technology | 128,293 | $ | 2,047 | |||||
Dongbu Insurance* | 11,800 | 484 | ||||||
Doosan | 1,255 | 146 | ||||||
Grand Korea Leisure | 35,784 | 1,039 | ||||||
GS Home Shopping | 2,958 | 510 | ||||||
Hankook Tire | 29,889 | 1,292 | ||||||
Hyundai Marine & Fire Insurance* | 63,103 | 1,801 | ||||||
Hyundai Mobis | 5,486 | 1,516 | ||||||
Hyundai Motor* | 24,225 | 4,877 | ||||||
Hyundai Wia | 14,930 | 2,201 | ||||||
Industrial Bank of Korea | 73,340 | 837 | ||||||
Kangwon Land | 14,580 | 411 | ||||||
KB Financial Group ADR | 97,225 | 3,212 | ||||||
KCC | 15,332 | 4,210 | ||||||
Kia Motors | 73,317 | 3,664 | ||||||
Korea Exchange Bank | 81,360 | 548 | ||||||
Korea Zinc | 5,007 | 1,589 | ||||||
KT | 9,440 | 299 | ||||||
KT ADR | 152,790 | 2,400 | ||||||
KT&G | 41,895 | 2,884 | ||||||
LG Chem | 9,314 | 2,243 | ||||||
LG Display* | 16,330 | 468 | ||||||
LG Display ADR (A) | 105,040 | 1,533 | ||||||
LG Electronics | 19,324 | 1,409 | ||||||
Lock & Lock | 70,000 | 1,736 | ||||||
Lotte Chilsung Beverage | 1,684 | 2,251 | ||||||
Lotte Confectionery | 1,395 | 2,296 | ||||||
Lotte Shopping | 4,788 | 1,760 | ||||||
Mando | 9,265 | 974 | ||||||
NEO Holdings* | 1,255 | — | ||||||
Nong Shim | 1,266 | 355 | ||||||
POSCO | 766 | 224 | ||||||
S1 | 4,208 | 240 | ||||||
Samsung Electronics | 28,788 | 39,510 | ||||||
Samsung Engineering | 609 | 71 | ||||||
Samsung Fire & Marine Insurance* | 1,197 | 235 | ||||||
Samsung Heavy Industries | 41,155 | 1,287 | ||||||
Samsung Life Insurance* | 18,655 | 1,752 | ||||||
Seah Besteel | 10,424 | 299 | ||||||
SFA Engineering | 23,703 | 1,302 | ||||||
Shinhan Financial Group | 72,494 | 2,632 | ||||||
SK Holdings* | 15,122 | 2,317 | ||||||
SK Hynix* | 61,220 | 1,582 | ||||||
SK Telecom | 4,283 | 695 | ||||||
SK Telecom ADR | 308,547 | 5,514 | ||||||
Sung Kwang Bend | 61,717 | 1,251 | ||||||
Taekwang Industrial | 109 | 102 | ||||||
Youngone | 4,540 | 173 | ||||||
|
| |||||||
118,157 | ||||||||
|
| |||||||
Spain — 0.2% | ||||||||
Cemex Latam Holdings* | 247,615 | 1,861 | ||||||
|
| |||||||
Taiwan — 7.0% | ||||||||
Asustek Computer* | 162,740 | 1,946 | ||||||
Catcher Technology | 555,000 | 2,524 | ||||||
Chailease Holding* | 789,000 | 2,187 | ||||||
Chicony Electronics* | 151,438 | 399 | ||||||
China Steel Chemical* | 168,800 | 830 | ||||||
Chunghwa Telecom | 500,056 | 1,552 | ||||||
Cleanaway* | 226,000 | 1,666 |
4 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Equity Fund
March 31, 2013
Description | Shares | Market Value ($ Thousands) | ||||||
Compal Electronics | 526,000 | $ | 373 | |||||
CTCI* | 206,000 | 402 | ||||||
Elan Microelectronics* | 941,000 | 2,105 | ||||||
Eva Airways* | 2,605,000 | 1,564 | ||||||
Farglory Land Development* | 196,043 | 363 | ||||||
Formosa Taffeta* | 88,000 | 81 | ||||||
Fubon Financial Holding | 2,034,000 | 2,911 | ||||||
Hon Hai Precision Industry | 1,742,753 | 4,855 | ||||||
Huaku Development* | 176,196 | 436 | ||||||
Kinik* | 757,000 | 1,380 | ||||||
Largan Precision* | 49,000 | 1,283 | ||||||
Lextar Electronics* | 1,045,000 | 1,153 | ||||||
Lite-On Technology* | 994,478 | 1,603 | ||||||
MediaTek | 317,924 | 3,636 | ||||||
Merida Industry | 341,750 | 2,006 | ||||||
MStar Semiconductor | 102,000 | 836 | ||||||
Pegatron* | 1,025,738 | 1,585 | ||||||
Phison Electronics* | 195,000 | 1,500 | ||||||
Pou Chen | 1,097,000 | 1,189 | ||||||
President Chain Store* | 131,652 | 731 | ||||||
Radiant Opto-Electronics | 290,272 | 1,141 | ||||||
Realtek Semiconductor | 506,380 | 1,177 | ||||||
Simplo Technology | 350,094 | 1,645 | ||||||
Synnex Technology International | 947,783 | 1,737 | ||||||
Taishin Financial Holding | 2,474,220 | 1,034 | ||||||
Taiwan Semiconductor Manufacturing* | 2,052,790 | 6,899 | ||||||
Taiwan Semiconductor Manufacturing ADR | 329,881 | 5,671 | ||||||
Teco Electric and Machinery* | 1,758,000 | 1,417 | ||||||
TPK Holding* | 102,000 | 2,026 | ||||||
U-Ming Marine Transport* | 188,926 | 295 | ||||||
Uni-President Enterprises* | 867,680 | 1,642 | ||||||
United Microelectronics* | 1,695,981 | 635 | ||||||
United Microelectronics ADR | 795,000 | 1,431 | ||||||
Yageo* | 566,489 | 183 | ||||||
|
| |||||||
68,029 | ||||||||
|
| |||||||
Thailand — 3.0% | ||||||||
Airports of Thailand | 335,800 | 1,393 | ||||||
Bangkok Bank | 300,100 | 2,326 | ||||||
Bangkok Bank Foreign | 305,600 | 2,421 | ||||||
Bangkok Bank NVDR | 224,061 | 1,737 | ||||||
Bangkok Expressway | 47,500 | 64 | ||||||
Banpu | 10,100 | 130 | ||||||
CP ALL | 606,982 | 959 | ||||||
CP Seven Eleven PCL | 900,622 | 1,422 | ||||||
Electricity Generating | 40,800 | 217 | ||||||
Kasikornbank NVDR | 469,700 | 3,336 | ||||||
Kiatnakin Bank | 314,844 | 742 | ||||||
Krung Thai Bank | 2,702,350 | 2,307 | ||||||
Krung Thai Bank NVDR | 3,396,477 | 2,899 | ||||||
Land and Houses | 5,323,600 | 2,327 | ||||||
PTT | 362,450 | 4,035 | ||||||
Ratchaburi Electricity Generating Holding | 23,400 | 48 | ||||||
Siam Commercial Bank | 83,100 | 511 | ||||||
Siam Makro | 43,688 | 794 | ||||||
Thai Beverage | 919,068 | 452 | ||||||
Thai Oil | 231,700 | 518 | ||||||
|
| |||||||
28,638 | ||||||||
|
|
Description | Shares | Market Value ($ Thousands) | ||||||
Turkey — 2.8% | ||||||||
Anadolu Efes Biracilik Ve Malt Sanayii | 112,140 | $ | 1,828 | |||||
Arcelik | 23,695 | 170 | ||||||
Aselsan Elektronik Sanayi Ve Ticaret | 447,685 | 2,622 | ||||||
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret | 158,566 | 224 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi (D) | 1,533,251 | 2,473 | ||||||
Eregli Demir ve Celik Fabrikalari* | 421,734 | 545 | ||||||
Ford Otomotiv Sanayi | 175,258 | 2,547 | ||||||
Koza Altin Isletmeleri | 42,603 | 989 | ||||||
Netas Telekomunikasyon | 142,374 | 877 | ||||||
Tekfen Holding | 486,463 | 2,069 | ||||||
Tofas Turk Otomobil Fabrikasi | 127,177 | 917 | ||||||
Tupras Turkiye Petrol Rafinerileri | 40,128 | 1,219 | ||||||
Turk Telekomunikasyon | 100,679 | 448 | ||||||
Turkcell Iletisim Hizmetleri* | 233,735 | 1,569 | ||||||
Turkcell Iletisim Hizmetleri ADR* | 86,835 | 1,445 | ||||||
Turkiye Garanti Bankasi | 304,241 | 1,624 | ||||||
Turkiye Sise ve Cam Fabrikalari | 1,557,760 | 2,694 | ||||||
Ulker Biskuvi Sanayi | 80,800 | 609 | ||||||
Yapi ve Kredi Bankasi | 710,080 | 2,228 | ||||||
|
| |||||||
27,097 | ||||||||
|
| |||||||
United Arab Emirates — 0.2% | ||||||||
Dragon Oil | 196,263 | 1,938 | ||||||
|
| |||||||
United Kingdom — 1.3% | ||||||||
Afren* | 803,248 | 1,731 | ||||||
Anglo American ADR | 72,740 | 936 | ||||||
BG Group | 50,165 | 861 | ||||||
Hikma Pharmaceuticals | 172,278 | 2,706 | ||||||
Old Mutual | 486,950 | 1,500 | ||||||
Petrofac | 62,754 | 1,366 | ||||||
SABMiller | 46,395 | 2,446 | ||||||
Tullow Oil | 58,222 | 1,089 | ||||||
|
| |||||||
12,635 | ||||||||
|
| |||||||
United States — 1.7% | ||||||||
Avon Products | 184,000 | 3,814 | ||||||
Cognizant Technology Solutions ADR, Cl A* | 23,200 | 1,777 | ||||||
First Cash Financial Services* | 35,700 | 2,083 | ||||||
Freeport-McMoRan Copper & Gold | 52,800 | 1,748 | ||||||
Samsonite International | 1,046,352 | 2,615 | ||||||
Yahoo!* | 199,000 | 4,683 | �� | |||||
|
| |||||||
16,720 | ||||||||
|
| |||||||
Total Common Stock | 867,162 | |||||||
|
| |||||||
PREFERRED STOCK — 3.9% | ||||||||
Brazil — 3.9% | ||||||||
Banco do Estado do Rio Grande do Sul | 324,756 | 2,814 | ||||||
Bradespar, Cl Preference | 40,339 | 525 | ||||||
Centrais Eletricas Brasileiras ADR, Cl B | 66,831 | 418 | ||||||
Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR | 80,170 | 4,272 |
5 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Equity Fund
March 31, 2013
Description | Shares/Face Amount (1) (Thousands) | Market Value ($ Thousands) | ||||||
Cia Brasileira de Distribuicao Grupo Pao de Acucar, Cl Preference | 5,300 | $ | 280 | |||||
Cia de Bebidas das Americas | 19,900 | 830 | ||||||
Cia de Bebidas das Americas ADR | 102,509 | 4,339 | ||||||
Cia Energetica de Minas Gerais | 25,300 | 296 | ||||||
Cia Paranaense de Energia* | 23,400 | 358 | ||||||
Itau Unibanco Holding | 65,427 | 1,165 | ||||||
Itau Unibanco Holding ADR | 142,360 | 2,534 | ||||||
Klabin | 164,414 | 1,134 | ||||||
Marcopolo | 408,300 | 2,898 | ||||||
Petroleo Brasileiro, Cl Preference | 225,416 | 2,046 | ||||||
Petroleo Brasileiro ADR, Cl A | 337,805 | 6,131 | ||||||
Vale, Cl A | 136,314 | 2,241 | ||||||
Vale ADR, Cl B | 331,546 | 5,480 | ||||||
|
| |||||||
Total Preferred Stock | 37,761 | |||||||
|
| |||||||
EXCHANGE TRADED FUNDS — 3.4% |
| |||||||
Hong Kong — 0.1% |
| |||||||
iShares FTSE A50 China Index Fund | 1,205,000 | 1,617 | ||||||
|
| |||||||
United States — 3.3% |
| |||||||
iPath MSCI India Index ETN | 31,292 | 1,789 | ||||||
iShares MSCI Emerging Markets Index Fund | 524,590 | 22,442 | ||||||
iShares MSCI Taiwan Index Fund | 556,244 | 7,420 | ||||||
|
| |||||||
31,651 | ||||||||
|
| |||||||
Total Exchange Traded Funds | 33,268 | |||||||
|
| |||||||
DEBENTURE BOND — 0.0% |
| |||||||
Brazil — 0.0% |
| |||||||
Vale, Ser 1997 | ||||||||
0.000%, 09/30/2049 (E) | 8 | — | ||||||
|
| |||||||
Total Debenture Bond | — | |||||||
|
| |||||||
AFFILIATED PARTNERSHIP — 1.7% |
| |||||||
SEI Liquidity Fund, L.P. |
| |||||||
0.120% †**(F) | 16,318,819 | 16,319 | ||||||
|
| |||||||
Total Affiliated Partnership | 16,319 | |||||||
|
| |||||||
CASH EQUIVALENT — 0.9% |
| |||||||
SEI Daily Income Trust, Prime Obligation Fund, Cl A 0.020% †** | 8,621,860 | 8,622 | ||||||
|
| |||||||
Total Cash Equivalent | 8,622 | |||||||
|
|
Description | Face Amount (1) (Thousands) | Market Value ($ Thousands) | ||||||
TIME DEPOSITS — 1.5% |
| |||||||
United States — 1.5% |
| |||||||
Brown Brothers Harriman | ||||||||
4.150%, 04/01/2013 | ZAR | 443 | $ | 48 | ||||
0.650%, 04/01/2013 | NOK | — | — | |||||
0.233%, 04/01/2013 | CAD | 22 | 22 | |||||
0.071%, 04/01/2013 | GBP | — | — | |||||
0.050%, 04/01/2013 | SEK | — | — | |||||
0.030%, 04/01/2013 | 14,566 | 14,566 | ||||||
0.010%, 04/01/2013 | SGD | 4 | 3 | |||||
0.005%, 04/01/2013 | HKD | 351 | 45 | |||||
(0.028)%, 04/01/2013 | EUR | 1 | 1 | |||||
|
| |||||||
Total Time Deposits | 14,685 | |||||||
|
| |||||||
Total Investments — 101.1% | $ | 977,817 | ||||||
|
|
Percentages are based on a Net Assets of $967,091 ($ Thousands).
* | Non-income producing security. |
** | Rate shown is the 7-day effective yield as of March 31, 2013. |
† | 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, 2013. The total market value of securities on loan at March 31, 2013 was $15,189 ($ Thousands) (See Note 8). |
(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) | Securities considered illiquid. The total market value of such securities as of March 31, 2013 was $1,531 ($ Thousands) and represented 0.2% of Net Assets. |
(D) | Real Estate Investment Trust. |
(E) | Variable Rate Security - The rate reported on the Schedule of Investments is the rate in effect as of March 31, 2013. |
(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, 2013 was $16,319 ($ Thousands). |
ADR — American Depositary Receipt
CAD — Canadian Dollar
Cl — Class
ETN — Exchange Traded Note
EUR — Euro
FTSE — Financial Times and the London Stock Exchange
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
REIT — Real Estate Investment Trust
SEK — Swedish Krona
Ser — Series
SGD — Singapore Dollar
USD — U.S. Dollar
ZAR — South African Rand
6 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Equity Fund
March 31, 2013
The following is a summary of the inputs used as of March 31, 2013, in valuing the Fund’s investments carried at value ($ Thousands):
Investments in Securities | Level 1 | Level 2 | Level 3(1) | Total | ||||||||||||
Common Stock | $ | 866,650 | $ | — | $ | 512 | $ | 867,162 | ||||||||
Preferred Stock | 37,761 | — | — | 37,761 | ||||||||||||
Exchange Traded Funds | 33,268 | — | — | 33,268 | ||||||||||||
Debenture Bond | — | — | — | — | ||||||||||||
Affiliated Partnership | — | 16,319 | — | 16,319 | ||||||||||||
Cash Equivalent | 8,622 | — | — | 8,622 | ||||||||||||
Time Deposits | — | 14,685 | — | 14,685 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | 946,301 | $ | 31,004 | $ | 512 | $ | 977,817 | ||||||||
|
|
|
|
|
|
|
|
(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, 2013, there were transfers between Level 1 and Level 2 assets and liabilities. The primary reason for changes in the classifications between Level 1 and Level 2 occurs when foreign equity securities are fair valued using other observable market-based inputs in place of the closing exchange price due to events occurring after the close of the exchange or market on which the investment is principally traded (See Note 2).
For the six ended March 31, 2013, there were no transfers between Level 2 and Level 3 assets and liabilities.
Amounts designated as “—” are $O or have been rounded to $O.
The accompanying notes are an integral part of the financial statements.
7 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
GLOBAL BONDS — 93.0% |
| |||||||
Australia — 2.9% |
| |||||||
Australia & New Zealand Banking Group MTN | ||||||||
3.625%, 07/18/2022 | EUR | 300 | $ | 441 | ||||
Commonwealth Bank of Australia MTN | ||||||||
3.000%, 05/03/2022 | EUR | 230 | 322 | |||||
2.625%, 01/12/2017 | EUR | 245 | 335 | |||||
Government of Australia | ||||||||
6.681%, 08/20/2015 | 100 | 188 | ||||||
6.000%, 02/15/2017 | 2,600 | 3,014 | ||||||
5.750%, 07/15/2022 | 700 | 865 | ||||||
5.500%, 01/21/2018 | 2,110 | 2,439 | ||||||
5.500%, 04/21/2023 | 160 | 196 | ||||||
4.250%, 07/21/2017 | 1,350 | 1,478 | ||||||
Government of Australia, Ser 124 | ||||||||
5.750%, 05/15/2021 | 1,900 | 2,318 | ||||||
Government of Australia, Ser 25CI | ||||||||
3.281%, 09/20/2025 | 150 | 215 | ||||||
National Australia Bank MTN | ||||||||
2.625%, 01/13/2017 | EUR | 210 | 287 | |||||
1.875%, 01/13/2023 | EUR | 220 | 279 | |||||
New South Wales Treasury, Ser 13 | ||||||||
5.250%, 05/01/2013 | 980 | 1,022 | ||||||
Queensland Treasury, Ser 17 | ||||||||
6.000%, 09/14/2017 | 780 | 897 | ||||||
Suncorp-Metway | ||||||||
5.125%, 10/27/2014 | GBP | 235 | 375 | |||||
Westpac Banking MTN | ||||||||
5.625%, 04/29/2018 (A) | GBP | 240 | 366 | |||||
|
| |||||||
15,037 | ||||||||
|
| |||||||
Austria — 1.2% |
| |||||||
Republic of Austria | ||||||||
3.900%, 07/15/2020 | 75 | 113 | ||||||
3.650%, 04/20/2022 | 290 | 436 | ||||||
3.200%, 02/20/2017 | 600 | 847 | ||||||
1.950%, 06/18/2019 | 3,020 | 4,081 | ||||||
Republic of Austria, Ser 97-6 | ||||||||
6.250%, 07/15/2027 | 225 | 433 | ||||||
|
| |||||||
5,910 | ||||||||
|
| |||||||
Belgium — 3.5% |
| |||||||
Anheuser-Busch InBev MTN | ||||||||
8.625%, 01/30/2017 | 200 | 330 | ||||||
2.875%, 09/25/2024 | 650 | 867 | ||||||
Kingdom of Belgium, Ser 44 | ||||||||
5.000%, 03/28/2035 | 500 | 839 | ||||||
Kingdom of Belgium, Ser 47 | ||||||||
3.250%, 09/28/2016 | 7,325 | 10,261 | ||||||
Kingdom of Belgium, Ser 49 | ||||||||
4.000%, 03/28/2017 | 230 | 333 | ||||||
Kingdom of Belgium, Ser 58 | ||||||||
3.750%, 09/28/2020 | 231 | 341 | ||||||
Kingdom of Belgium, Ser 65 | ||||||||
4.250%, 09/28/2022 | 250 | 380 | ||||||
Kingdom of Belgium, Ser 67 | ||||||||
3.000%, 09/28/2019 | 1,680 | 2,376 | ||||||
Kingdom of Belgium, Ser 69 | ||||||||
1.250%, 06/22/2018 | 1,650 | 2,134 | ||||||
|
| |||||||
17,861 | ||||||||
|
|
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Brazil — 0.4% |
| |||||||
Cosan | ||||||||
5.000%, 03/14/2023 (B) | USD | 240 | $ | 242 | ||||
ESAL GmbH | ||||||||
6.250%, 02/05/2023 (B) | USD | 400 | 402 | |||||
Gerdau Trade | ||||||||
5.750%, 01/30/2021 (B) | USD | 101 | 108 | |||||
Globo Comunicacao e Participacoes | ||||||||
5.307%, 05/11/2017 (B)(C) | USD | 380 | 410 | |||||
Petrobras Global Finance | ||||||||
4.250%, 10/02/2023 | 153 | 204 | ||||||
Petrobras International Finance | ||||||||
5.375%, 01/27/2021 | USD | 154 | 166 | |||||
Raisen Energy Finance | ||||||||
7.000%, 02/01/2017 (A) | USD | 270 | 307 | |||||
Vale Overseas | ||||||||
4.375%, 01/11/2022 | USD | 314 | 322 | |||||
|
| |||||||
2,161 | ||||||||
|
| |||||||
Canada — 4.9% |
| |||||||
Bell Canada MTN | ||||||||
5.000%, 02/15/2017 | 270 | 294 | ||||||
Canada Housing Trust No. 1 | ||||||||
4.100%, 12/15/2018 | 1,390 | 1,542 | ||||||
2.050%, 06/15/2017 | 2,470 | 2,485 | ||||||
CDP Financial | ||||||||
4.400%, 11/25/2019 (B) | USD | 850 | 973 | |||||
Government of Canada | ||||||||
5.750%, 06/01/2033 | 1,300 | 1,952 | ||||||
5.000%, 06/01/2037 | 1,300 | 1,852 | ||||||
4.250%, 06/01/2018 | 715 | 806 | ||||||
4.000%, 06/01/2041 | 280 | 359 | ||||||
3.500%, 06/01/2020 | 710 | 790 | ||||||
3.500%, 06/01/2020 | 2,395 | 2,664 | ||||||
2.750%, 06/01/2022 | 800 | 853 | ||||||
2.250%, 08/01/2014 | 2,000 | 2,000 | ||||||
1.500%, 03/01/2017 | 1,500 | 1,491 | ||||||
1.500%, 09/01/2017 | 1,835 | 1,823 | ||||||
Province of British Columbia | ||||||||
3.250%, 12/18/2021 | 1,150 | 1,203 | ||||||
Province of Manitoba Canada | ||||||||
3.850%, 12/01/2021 | 710 | 771 | ||||||
Province of Ontario Canada | ||||||||
3.150%, 06/02/2022 | 2,000 | 2,045 | ||||||
Royal Bank of Canada, Ser 2 MTN | ||||||||
4.625%, 01/22/2018 | EUR | 252 | 380 | |||||
Toronto-Dominion Bank | ||||||||
2.200%, 07/29/2015 (B) | USD | 540 | 560 | |||||
TransCanada PipeLines | ||||||||
2.500%, 08/01/2022 | USD | 300 | 292 | |||||
|
| |||||||
25,135 | ||||||||
|
| |||||||
China — 0.1% |
| |||||||
Baidu | ||||||||
2.250%, 11/28/2017 | USD | 200 | 202 | |||||
Talent Yield Investments | ||||||||
4.500%, 04/25/2022 (B) | USD | 310 | 340 | |||||
|
| |||||||
542 | ||||||||
|
| |||||||
Colombia — 0.0% |
| |||||||
Pacific Rubiales Energy | ||||||||
5.125%, 03/28/2023 (B) | 123 | 124 | ||||||
|
|
1 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Czech Republic — 0.2% | ||||||||
Government of Czech Republic | ||||||||
4.600%, 08/18/2018 | 13,000 | $ | 756 | |||||
Government of Czech Republic, Ser 51 | ||||||||
4.000%, 04/11/2017 | 8,050 | 449 | ||||||
|
| |||||||
1,205 | ||||||||
|
| |||||||
Denmark — 1.7% | ||||||||
Danske Bank | ||||||||
5.375%, 09/29/2021 (A) | GBP | 170 | 262 | |||||
3.500%, 04/16/2018 | EUR | 155 | 221 | |||||
DONG Energy MTN | ||||||||
5.750%, 04/09/2040 | GBP | 200 | 358 | |||||
FIH Erhvervsbank | ||||||||
2.000%, 06/12/2013 (B) | USD | 625 | 627 | |||||
Kingdom of Denmark | ||||||||
4.500%, 11/15/2039 | 1,300 | 333 | ||||||
4.000%, 11/15/2017 | 8,915 | 1,791 | ||||||
3.125%, 03/17/2014 | EUR | 500 | 659 | |||||
3.000%, 11/15/2021 | 21,800 | 4,341 | ||||||
|
| |||||||
8,592 | ||||||||
|
| |||||||
Finland — 1.0% | ||||||||
Elisa MTN | ||||||||
2.250%, 10/04/2019 | 300 | 392 | ||||||
Fortum MTN | ||||||||
2.250%, 09/06/2022 | 350 | 448 | ||||||
Government of Finland | ||||||||
4.375%, 07/04/2019 | 400 | 620 | ||||||
3.375%, 04/15/2020 | 2,080 | 3,075 | ||||||
Nordea Bank Finland MTN | ||||||||
2.375%, 07/17/2017 | 190 | 259 | ||||||
2.250%, 05/03/2019 | 170 | 231 | ||||||
|
| |||||||
5,025 | ||||||||
|
| |||||||
France — 5.2% | ||||||||
Arkema | ||||||||
3.850%, 04/30/2020 | 200 | 281 | ||||||
Banque Federative du Credit Mutuel MTN | ||||||||
2.000%, 09/19/2019 | 400 | 505 | ||||||
BNP Paribas MTN | ||||||||
4.730%, 04/12/2049 (A) | 300 | 353 | ||||||
2.500%, 08/23/2019 | 350 | 456 | ||||||
2.375%, 09/14/2017 | USD | 445 | 452 | |||||
BPCE SFH MTN | ||||||||
3.625%, 05/12/2016 | 100 | 139 | ||||||
2.750%, 02/16/2017 | 300 | 410 | ||||||
Caisse Francaise de Financement Local MTN | ||||||||
4.500%, 04/27/2015 | 380 | 525 | ||||||
3.750%, 05/18/2016 | 225 | 314 | ||||||
Cie de Financement Foncier MTN | ||||||||
4.625%, 09/23/2017 | 575 | 852 | ||||||
4.250%, 01/19/2022 | 300 | 452 | ||||||
2.500%, 09/16/2015 (B) | USD | 800 | 829 | |||||
Cie de St-Gobain MTN | ||||||||
6.000%, 05/20/2013 | 50 | 65 | ||||||
Credit Agricole Home Loan SFH MTN | ||||||||
3.500%, 07/21/2014 | 200 | 267 | ||||||
2.875%, 09/09/2016 | 300 | 411 | ||||||
Credit Logement | ||||||||
1.333%, 03/29/2049 (A)(D) | 350 | 280 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
0.783%, 12/15/2049 (A)(D) | 42 | $ | 38 | |||||
Dexia Credit Local MTN | ||||||||
2.625%, 01/21/2014 | 300 | 391 | ||||||
0.781%, 04/29/2014 (A) | USD | 410 | 409 | |||||
Electricite de France MTN | ||||||||
6.500%, 01/26/2019 (B) | USD | 250 | 305 | |||||
5.500%, 10/17/2041 | GBP | 100 | 166 | |||||
5.375%, 12/12/2049 (A) | 100 | 130 | ||||||
5.250%, 12/29/2049 (A) | 120 | 118 | ||||||
4.125%, 03/25/2027 | 100 | 144 | ||||||
4.000%, 11/12/2025 | 150 | 216 | ||||||
Eutelsat | ||||||||
5.000%, 01/14/2019 | 200 | 299 | ||||||
French Treasury Note | ||||||||
2.500%, 01/15/2015 | 395 | 527 | ||||||
1.000%, 07/25/2017 | 235 | 305 | ||||||
0.750%, 09/25/2014 | 400 | 518 | ||||||
GDF Suez | ||||||||
1.625%, 10/10/2017 (B) | USD | 246 | 247 | |||||
Government of France | ||||||||
5.000%, 10/25/2016 | 1,760 | 2,613 | ||||||
4.750%, 04/25/2035 | 60 | 99 | ||||||
4.500%, 04/25/2041 | 1,060 | 1,700 | ||||||
3.250%, 05/25/2045 | 440 | 568 | ||||||
3.000%, 10/25/2015 | 3,850 | 5,279 | ||||||
3.000%, 04/25/2022 | 555 | 776 | ||||||
1.000%, 05/25/2018 | 1,760 | 2,267 | ||||||
HSBC France MTN | ||||||||
4.875%, 01/15/2014 | 250 | 332 | ||||||
Iliand | ||||||||
4.875%, 06/01/2016 | 300 | 413 | ||||||
RCI Banque | ||||||||
3.400%, 04/11/2014 (B) | USD | 250 | 253 | |||||
SES | ||||||||
3.600%, 04/04/2023 (B) | 86 | 86 | ||||||
Societe Financement de l’Economie Francaise | ||||||||
3.375%, 05/05/2014 (B) | USD | 905 | 935 | |||||
Societe Generale SFH MTN | ||||||||
3.250%, 06/06/2016 | 400 | 552 | ||||||
Societe Generale MTN | ||||||||
5.750%, 04/20/2016 (B) | USD | 111 | 121 | |||||
3.875%, 12/17/2015 | GBP | 100 | 160 | |||||
|
| |||||||
26,558 | ||||||||
|
| |||||||
Germany — 15.0% | ||||||||
Allianz Finance II MTN | ||||||||
3.500%, 02/14/2022 | 300 | 424 | ||||||
Bilfinger | ||||||||
2.375%, 12/07/2019 | 100 | 133 | ||||||
BMW Finance MTN | ||||||||
3.375%, 12/14/2018 | GBP | 250 | 413 | |||||
Bundesobligation | ||||||||
0.500%, 10/13/2017 | 800 | 1,038 | ||||||
0.500%, 02/23/2018 | 960 | 1,241 | ||||||
Bundesobligation Inflation Linked Bond | ||||||||
2.250%, 04/15/2013 | 3,122 | 4,008 | ||||||
Bundesrepublik Deutschland | ||||||||
2.500%, 07/04/2044 | 180 | 245 | ||||||
2.250%, 09/04/2020 | 270 | 383 | ||||||
2.000%, 01/04/2022 | 1,645 | 2,271 |
2 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
1.500%, 09/04/2022 | 13,250 | $ | 17,407 | |||||
1.500%, 02/15/2023 | 500 | 654 | ||||||
Bundesrepublik Deutschland, Ser 00 | ||||||||
5.500%, 01/04/2031 | 340 | 661 | ||||||
Bundesrepublik Deutschland, Ser 03 | ||||||||
4.750%, 07/04/2034 | 1,120 | 2,083 | ||||||
Bundesrepublik Deutschland, Ser 04 | ||||||||
3.750%, 01/04/2015 | 200 | 273 | ||||||
Bundesrepublik Deutschland, Ser 07 | ||||||||
4.250%, 07/04/2039 | 1,075 | 1,950 | ||||||
Bundesrepublik Deutschland, Ser 08 | ||||||||
4.750%, 07/04/2040 | 25 | 49 | ||||||
Bundesschatzanweisungen | ||||||||
1.750%, 06/14/2013 | 16,450 | 21,156 | ||||||
0.250%, 03/13/2015 | 5,300 | 6,830 | ||||||
Daimler International Finance BV MTN | ||||||||
7.875%, 01/16/2014 | 575 | 780 | ||||||
Deutsche Bank MTN | ||||||||
1.397%, 12/15/2015 (A) | GBP | 280 | 415 | |||||
Deutsche Postbank MTN | ||||||||
3.750%, 02/12/2014 | 800 | 1,056 | ||||||
Deutsche Telekom International Finance BV | ||||||||
8.875%, 11/27/2028 | GBP | 160 | 377 | |||||
Deutschland Inflation Linked Bond | ||||||||
0.100%, 04/15/2023 | 966 | 1,319 | ||||||
E.ON International Finance | ||||||||
5.800%, 04/30/2018 (B) | USD | 150 | 179 | |||||
FMS Wertmanagement | ||||||||
1.000%, 07/18/2017 | 1,000 | 1,297 | ||||||
Hypothekenbank Frankfurt MTN | ||||||||
2.875%, 01/19/2016 | 160 | 218 | ||||||
K+S | ||||||||
5.000%, 09/24/2014 | 350 | 477 | ||||||
KFW | ||||||||
4.750%, 08/12/2015 | SEK | 6,000 | 989 | |||||
4.375%, 10/11/2013 | 1,050 | 1,376 | ||||||
4.375%, 07/04/2018 | 915 | 1,388 | ||||||
3.875%, 01/21/2019 | 575 | 859 | ||||||
3.375%, 08/30/2017 | CHF | 370 | 443 | |||||
0.875%, 11/15/2013 | 1,625 | 2,093 | ||||||
Linde Finance MTN | ||||||||
3.875%, 06/01/2021 | 450 | 671 | ||||||
Muenchener Rueckversicherungs MTN | ||||||||
6.250%, 05/26/2042 (A) | 200 | 302 | ||||||
RWE Finance MTN | ||||||||
5.000%, 02/10/2015 | 500 | 693 | ||||||
RWE | ||||||||
7.000%, 10/12/2072 (A) | USD | 224 | 240 | |||||
|
| |||||||
76,391 | ||||||||
|
| |||||||
Indonesia — 0.1% | ||||||||
Pertamina Persero | ||||||||
6.000%, 05/03/2042 (B) | 380 | 388 | ||||||
|
|
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Ireland — 0.4% | ||||||||
Bank of Ireland MTN | ||||||||
4.625%, 04/08/2013 | 195 | $ | 250 | |||||
4.000%, 01/28/2015 | 250 | 329 | ||||||
GE Capital UK Funding MTN | ||||||||
4.375%, 07/31/2019 | GBP | 810 | 1,366 | |||||
|
| |||||||
1,945 | ||||||||
|
| |||||||
Italy — 5.2% | ||||||||
Edison MTN | ||||||||
3.875%, 11/10/2017 | 600 | 845 | ||||||
Enel Finance International MTN | ||||||||
4.875%, 03/11/2020 | 100 | 137 | ||||||
3.875%, 10/07/2014 (B) | USD | 350 | 360 | |||||
Intesa Sanpaolo MTN | ||||||||
4.875%, 07/10/2015 | 300 | 398 | ||||||
4.375%, 10/15/2019 | 200 | 253 | ||||||
4.000%, 11/09/2017 | 368 | 470 | ||||||
Italy Buoni Poliennali Del Tesoro | ||||||||
6.500%, 11/01/2027 | 500 | 733 | ||||||
6.000%, 05/01/2031 | 500 | 704 | ||||||
5.500%, 11/01/2022 | 150 | 204 | ||||||
5.000%, 03/01/2022 | 1,500 | 1,995 | ||||||
5.000%, 09/01/2040 | 1,755 | 2,188 | ||||||
4.750%, 05/01/2017 | 3,740 | 5,037 | ||||||
4.750%, 09/01/2021 | 4,215 | 5,569 | ||||||
4.500%, 03/01/2019 | 400 | 529 | ||||||
4.250%, 02/01/2015 | 2,325 | 3,096 | ||||||
3.500%, 06/01/2014 | 1,150 | 1,505 | ||||||
3.500%, 11/01/2017 | 460 | 591 | ||||||
Italy Buoni Poliennali Del Tesoro Inflation Linked Bond | ||||||||
2.100%, 09/15/2016 | 736 | 957 | ||||||
Telecom Italia MTN | ||||||||
4.000%, 01/21/2020 | 400 | 500 | ||||||
UniCredit MTN | ||||||||
6.950%, 10/31/2022 | 100 | 128 | ||||||
6.375%, 10/16/2018 (A) | GBP | 100 | 145 | |||||
Unione di Banche Italiane MTN | ||||||||
4.500%, 02/22/2016 | 200 | 273 | ||||||
|
| |||||||
26,617 | ||||||||
|
| |||||||
Japan — 19.3% | ||||||||
Government of Japan 5 Year Bond, Ser 95 | ||||||||
0.600%, 03/20/2016 | 398,950 | 4,301 | ||||||
Government of Japan 5 Year Bond, Ser 108 | ||||||||
0.100%, 12/20/2017 | 315,000 | 3,340 | ||||||
Government of Japan 10 Year Bond, Ser 275 | ||||||||
1.400%, 12/20/2015 | 626,600 | 6,892 | ||||||
Government of Japan 10 Year Bond, Ser 288 | ||||||||
1.700%, 09/20/2017 | 330,000 | 3,750 | ||||||
Government of Japan 10 Year Bond, Ser 298 | ||||||||
1.300%, 12/20/2018 | 374,100 | 4,223 | ||||||
Government of Japan 10 Year Bond, Ser 301 | ||||||||
1.500%, 06/20/2019 | 235,300 | 2,695 | ||||||
Government of Japan 10 Year Bond, Ser 303 | ||||||||
1.400%, 09/20/2019 | 774,500 | 8,832 |
3 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Government of Japan 10 Year Bond, Ser 308 | ||||||||
1.300%, 06/20/2020 | 1,096,000 | $ | 12,454 | |||||
Government of Japan 10 Year Bond, Ser 313 | ||||||||
1.300%, 03/20/2021 | 750,000 | 8,514 | ||||||
Government of Japan 10 Year Bond, Ser 316 | ||||||||
1.100%, 06/20/2021 | 240,550 | 2,690 | ||||||
Government of Japan 10 Year Bond, Ser 318 | ||||||||
1.000%, 09/20/2021 | 95,000 | 1,054 | ||||||
Government of Japan 10 Year Bond, Ser 327 | ||||||||
0.800%, 12/20/2022 | 140,000 | 1,522 | ||||||
Government of Japan 20 Year Bond, Ser 48 | ||||||||
2.500%, 12/21/2020 | 629,450 | 7,758 | ||||||
Government of Japan 20 Year Bond, Ser 55 | ||||||||
2.000%, 03/21/2022 | 257,000 | 3,087 | ||||||
Government of Japan 20 Year Bond, Ser 99 | ||||||||
2.100%, 12/20/2027 | 538,250 | 6,564 | ||||||
Government of Japan 20 Year Bond, Ser 106 | ||||||||
2.200%, 09/20/2028 | 67,150 | 827 | ||||||
Government of Japan 20 Year Bond, Ser 112 | ||||||||
2.100%, 06/20/2029 | 420,000 | 5,100 | ||||||
Government of Japan 20 Year Bond, Ser 128 | ||||||||
1.900%, 06/20/2031 | 55,000 | 643 | ||||||
Government of Japan 20 Year Bond, Ser 140 | ||||||||
1.700%, 09/20/2032 | 34,850 | 391 | ||||||
Government of Japan 20 Year Bond, Ser 143 | ||||||||
1.600%, 03/20/2033 | 426,450 | 4,679 | ||||||
Government of Japan 30 Year Bond, Ser 29 | ||||||||
2.400%, 09/20/2038 | 103,250 | 1,307 | ||||||
Government of Japan 30 Year Bond, Ser 30 | ||||||||
2.300%, 03/20/2039 | 323,000 | 4,019 | ||||||
Government of Japan 30 Year Bond, Ser 33 | ||||||||
2.000%, 09/20/2040 | 167,000 | 1,964 | ||||||
Government of Japan 30 Year Bond, Ser 34 | ||||||||
2.200%, 03/20/2041 | 30,000 | 367 | ||||||
Government of Japan 30 Year Bond, Ser 36 | ||||||||
2.000%, 03/20/2042 | 10,000 | 117 | ||||||
Government of Japan 30 Year Bond, Ser 37 | ||||||||
1.900%, 09/20/2042 | 40,400 | 463 | ||||||
Japan Finance Organization for Municipalities | ||||||||
4.500%, 05/27/2014 | EUR | 450 | 603 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
ORIX | ||||||||
4.710%, 04/27/2015 | USD | 135 | $ | 143 | ||||
|
| |||||||
98,299 | ||||||||
|
| |||||||
Jersey — 0.1% | ||||||||
Gatwick Funding MTN | ||||||||
5.750%, 01/23/2037 | 250 | 433 | ||||||
|
| |||||||
Malaysia — 0.2% | ||||||||
Government of Malaysia | ||||||||
5.734%, 07/30/2019 | 900 | 330 | ||||||
Malaysia Government Bond | ||||||||
3.418%, 08/15/2022 | MYR | 445 | 143 | |||||
Petronas Capital | ||||||||
5.250%, 08/12/2019 (B) | USD | 410 | 477 | |||||
|
| |||||||
950 | ||||||||
|
| |||||||
Mexico — 1.1% | ||||||||
America Movil | ||||||||
3.000%, 07/12/2021 | EUR | 225 | 300 | |||||
Grupo KUO De | ||||||||
6.250%, 12/04/2022 (B) | 300 | 322 | ||||||
Mexican Bonos | ||||||||
9.000%, 06/20/2013 | 29,500 | 2,412 | ||||||
Mexican Bonos, Ser M10 | ||||||||
7.750%, 12/14/2017 | 27,639 | 2,528 | ||||||
|
| |||||||
5,562 | ||||||||
|
| |||||||
Netherlands — 5.1% | ||||||||
ABN Amro Bank MTN | ||||||||
4.875%, 01/16/2019 | GBP | 200 | 343 | |||||
3.750%, 07/15/2014 | 750 | 1,002 | ||||||
Akzo Nobel MTN | ||||||||
8.000%, 04/06/2016 | GBP | 205 | 368 | |||||
Alliander MTN | ||||||||
2.875%, 06/14/2024 | 200 | 269 | ||||||
Heineken MTN | ||||||||
2.125%, 08/04/2020 | 300 | 391 | ||||||
ING Bank MTN | ||||||||
3.375%, 03/23/2017 | 125 | 176 | ||||||
0.987%, 05/23/2016 (A) | USD | 450 | 427 | |||||
Kingdom of Netherlands | ||||||||
4.500%, 07/15/2017 | 500 | 746 | ||||||
4.250%, 07/15/2013 | 8,200 | 10,634 | ||||||
4.000%, 07/15/2018 | 185 | 276 | ||||||
4.000%, 01/15/2037 | 300 | 495 | ||||||
3.500%, 07/15/2020 | 485 | 721 | ||||||
2.250%, 07/15/2022 | 3,955 | 5,363 | ||||||
1.750%, 07/15/2023 | 1,410 | 1,804 | ||||||
1.250%, 01/15/2018 | 1,300 | 1,707 | ||||||
Koninklijke KPN | ||||||||
3.250%, 02/01/2021 | 200 | 264 | ||||||
Shell International Finance | ||||||||
2.250%, 01/06/2023 | USD | 825 | 803 | |||||
UPCB Finance | ||||||||
7.625%, 01/15/2020 | 250 | 348 | ||||||
|
| |||||||
26,137 | ||||||||
|
| |||||||
New Zealand — 0.1% | ||||||||
Government of New Zealand | ||||||||
5.500%, 04/15/2023 | 320 | 313 | ||||||
|
| |||||||
Norway — 0.9% | ||||||||
DnB Bank MTN | ||||||||
4.750%, 03/08/2022 (A) | EUR | 120 | 167 |
4 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
DnB Boligkreditt MTN | ||||||||
2.750%, 04/20/2015 | EUR | 625 | $ | 837 | ||||
2.375%, 04/11/2017 | EUR | 224 | 304 | |||||
Eksportfinans | ||||||||
2.375%, 05/25/2016 | USD | 200 | 190 | |||||
2.000%, 09/15/2015 | USD | 20 | 19 | |||||
Government of Norway | ||||||||
4.500%, 05/22/2019 | 1,150 | 229 | ||||||
3.750%, 05/25/2021 | 7,510 | 1,458 | ||||||
Kommunalbanken MTN | ||||||||
1.000%, 03/15/2018 (B) | 800 | 794 | ||||||
Sparebank 1 Boligkreditt MTN | ||||||||
2.375%, 11/22/2016 | EUR | 170 | 230 | |||||
Yara International | ||||||||
7.875%, 06/11/2019 (B) | USD | 185 | 238 | |||||
|
| |||||||
4,466 | ||||||||
|
| |||||||
Peru — 0.1% | ||||||||
Republic of Peru | ||||||||
7.840%, 08/12/2020 | PEI | 1,600 | 778 | |||||
|
| |||||||
Poland — 0.2% | ||||||||
Republic of Poland | ||||||||
5.125%, 04/21/2021 | USD | 135 | 156 | |||||
3.375%, 07/09/2024 | EUR | 350 | 465 | |||||
Republic of Poland, Ser 1019 | ||||||||
5.500%, 10/25/2019 | 1,475 | 503 | ||||||
Republic of Poland, Ser E MTN | ||||||||
4.200%, 04/15/2020 | EUR | 60 | 89 | |||||
|
| |||||||
1,213 | ||||||||
|
| |||||||
Portugal — 0.1% | ||||||||
EDP Finance BV MTN | ||||||||
5.750%, 09/21/2017 | 200 | 275 | ||||||
Portugal Obrigacoes do Tesouro OT | ||||||||
4.350%, 10/16/2017 | 220 | 273 | ||||||
|
| |||||||
548 | ||||||||
|
| |||||||
Qatar — 0.1% | ||||||||
State of Qatar | ||||||||
4.500%, 01/20/2022 (B) | USD | 390 | 437 | |||||
|
| |||||||
Russia — 0.4% | ||||||||
Gazprom Via Gaz Capital MTN | ||||||||
6.580%, 10/31/2013 | GBP | 240 | 373 | |||||
3.755%, 03/15/2017 | EUR | 400 | 535 | |||||
Russian Federation Registered | ||||||||
7.500%, 03/31/2030 | USD | 310 | 384 | |||||
Severstal OAO Via Steel Capital MTN | ||||||||
4.450%, 03/19/2018 (B) | USD | 320 | 317 | |||||
VimpelCom Holdings | ||||||||
5.200%, 02/13/2019 (B) | USD | 200 | 201 | |||||
|
| |||||||
1,810 | ||||||||
|
| |||||||
Singapore — 0.3% | ||||||||
Government of Singapore | ||||||||
4.000%, 09/01/2018 | 495 | 471 | ||||||
3.125%, 09/01/2022 | 275 | 253 | ||||||
2.375%, 04/01/2017 | 425 | 369 | ||||||
Temasek Financial I | ||||||||
2.375%, 01/23/2023 (B) | USD | 495 | 477 | |||||
|
| |||||||
1,570 | ||||||||
|
|
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
South Africa — 0.1% | ||||||||
Republic of South Africa | ||||||||
10.500%, 12/21/2026 | 1,000 | $ | 137 | |||||
8.250%, 09/15/2017 | 6,600 | 781 | ||||||
|
| |||||||
918 | ||||||||
|
| |||||||
South Korea — 0.5% | ||||||||
Korea National Oil | ||||||||
3.125%, 04/03/2017 (B) | USD | 540 | 569 | |||||
Korea Treasury Bond | ||||||||
4.250%, 06/10/2021 | 1,009,870 | 1,003 | ||||||
3.500%, 09/10/2016 | 973,960 | 902 | ||||||
|
| |||||||
2,474 | ||||||||
|
| |||||||
Spain — 2.2% | ||||||||
Banco de Sabadell MTN | ||||||||
3.375%, 01/23/2018 | 100 | 129 | ||||||
Banco Popular Espanol | ||||||||
4.000%, 10/18/2016 | 100 | 131 | ||||||
3.750%, 01/22/2019 | 100 | 126 | ||||||
Banco Santander | ||||||||
4.625%, 01/20/2016 | 300 | 408 | ||||||
Bankia | ||||||||
4.250%, 05/25/2018 | 150 | 193 | ||||||
CaixaBank | ||||||||
5.125%, 04/27/2016 | 200 | 275 | ||||||
FADE - Fondo de Amortizacion del Deficit Electrico | ||||||||
4.125%, 03/17/2017 | 200 | 259 | ||||||
Government of Spain | ||||||||
5.850%, 01/31/2022 | 110 | 150 | ||||||
5.500%, 04/30/2021 | 1,720 | 2,318 | ||||||
4.850%, 10/31/2020 | 740 | 961 | ||||||
4.750%, 07/30/2014 | 925 | 1,229 | ||||||
4.700%, 07/30/2041 | 995 | 1,103 | ||||||
4.500%, 01/31/2018 | 750 | 989 | ||||||
4.200%, 01/31/2037 | 190 | 198 | ||||||
4.000%, 04/30/2020 | 100 | 125 | ||||||
3.300%, 10/31/2014 | 475 | 619 | ||||||
Santander International Debt SAU MTN | ||||||||
4.625%, 03/21/2016 | 700 | 920 | ||||||
Telefonica Emisiones MTN | ||||||||
5.811%, 09/05/2017 | 300 | 434 | ||||||
5.597%, 03/12/2020 | GBP | 100 | 163 | |||||
4.710%, 01/20/2020 | 200 | 272 | ||||||
4.375%, 02/02/2016 | 375 | 512 | ||||||
|
| |||||||
11,514 | ||||||||
|
| |||||||
Supra-National — 0.3% | ||||||||
European Investment Bank MTN | ||||||||
2.750%, 09/15/2021 | 1,000 | 1,393 | ||||||
|
| |||||||
Sweden — 1.2% | ||||||||
Akzo Nobel Sweden Finance MTN | ||||||||
2.625%, 07/27/2022 | EUR | 150 | 194 | |||||
Kingdom of Sweden, Ser 1041 | ||||||||
6.750%, 05/05/2014 | 5,970 | 973 | ||||||
Kingdom of Sweden, Ser 1049 | ||||||||
4.500%, 08/12/2015 | 5,050 | 837 | ||||||
Kingdom of Sweden, Ser 1051 | ||||||||
3.750%, 08/12/2017 | 4,870 | 828 | ||||||
Kingdom of Sweden, Ser 1054 | ||||||||
3.500%, 06/01/2022 | 2,300 | 406 |
5 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Kommuninvest I Sverige, Ser 1508 MTN | ||||||||
2.750%, 08/12/2015 | 5,300 | $ | 835 | |||||
Nordea Bank MTN | ||||||||
4.000%, 03/29/2021 | EUR | 255 | 351 | |||||
Skandinaviska Enskilda Banken MTN | ||||||||
4.000%, 09/12/2022 (A) | EUR | 190 | 259 | |||||
1.875%, 11/14/2019 | 175 | 226 | ||||||
Swedbank Hypotek | ||||||||
3.625%, 10/05/2016 | EUR | 250 | 352 | |||||
Swedbank MTN | ||||||||
7.375%, 06/26/2018 (A) | EUR | 150 | 195 | |||||
Telefonaktiebolaget LM Ericsson | ||||||||
4.125%, 05/15/2022 | USD | 465 | 484 | |||||
|
| |||||||
5,940 | ||||||||
|
| |||||||
Switzerland — 0.9% | ||||||||
Aquarius and Investments for Zurich Insurance MTN | ||||||||
4.250%, 10/02/2043 (A) | 100 | 128 | ||||||
Credit Suisse MTN | ||||||||
4.750%, 08/05/2019 | EUR | 400 | 603 | |||||
Glencore Finance Europe | ||||||||
5.500%, 04/03/2022 | GBP | 400 | 698 | |||||
4.125%, 04/03/2018 | EUR | 300 | 422 | |||||
Government of Switzerland | ||||||||
2.000%, 04/28/2021 | 1,070 | 1,258 | ||||||
Novartis Finance MTN | ||||||||
4.250%, 06/15/2016 | EUR | 375 | 535 | |||||
UBS | ||||||||
6.625%, 04/11/2018 | GBP | 150 | 280 | |||||
6.375%, 07/20/2016 | GBP | 160 | 282 | |||||
5.875%, 12/20/2017 | USD | 247 | 293 | |||||
4.280%, 04/29/2049 (A) | EUR | 200 | 254 | |||||
|
| |||||||
4,753 | ||||||||
|
| |||||||
Thailand — 0.1% | ||||||||
Thailand Government Bond | ||||||||
3.650%, 12/17/2021 | 16,020 | 554 | ||||||
|
| |||||||
Turkey — 0.5% | ||||||||
Akbank | ||||||||
3.875%, 10/24/2017 (B) | USD | 380 | 387 | |||||
Republic of Turkey | ||||||||
9.000%, 01/27/2016 | 2,750 | 1,620 | ||||||
Turkiye Halk Bankasi | ||||||||
3.875%, 02/05/2020 (B) | USD | 400 | 393 | |||||
|
| |||||||
2,400 | ||||||||
|
| |||||||
United Arab Emirates — 0.2% | ||||||||
Abu Dhabi National Energy | ||||||||
3.625%, 01/12/2023 (B) | USD | 400 | 403 | |||||
IPIC GMTN MTN | ||||||||
6.875%, 03/14/2026 | GBP | 100 | 193 | |||||
5.875%, 03/14/2021 | EUR | 125 | 193 | |||||
|
| |||||||
789 | ||||||||
|
| |||||||
United Kingdom — 11.6% | ||||||||
Abbey National Treasury Services MTN | ||||||||
5.500%, 06/18/2014 | 775 | 1,231 | ||||||
5.250%, 02/16/2029 | 450 | 832 | ||||||
5.125%, 04/14/2021 | 300 | 543 | ||||||
4.250%, 04/12/2021 | EUR | 350 | 533 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
3.625%, 09/08/2016 | EUR | 300 | $ | 420 | ||||
3.375%, 06/08/2015 | EUR | 500 | 678 | |||||
Anglian Water Services Financing, Ser A5 MTN | ||||||||
6.293%, 07/30/2030 | 500 | 980 | ||||||
Aviva MTN | ||||||||
6.875%, 05/22/2038 (A) | EUR | 195 | 273 | |||||
Bank of Scotland MTN | ||||||||
4.750%, 06/08/2022 | EUR | 290 | 460 | |||||
4.625%, 06/08/2017 | EUR | 275 | 406 | |||||
Barclays Bank MTN | ||||||||
6.750%, 01/16/2023 (A) | 350 | 588 | ||||||
5.000%, 09/22/2016 | USD | 125 | 140 | |||||
4.500%, 03/04/2019 (A) | EUR | 125 | 161 | |||||
4.250%, 01/12/2022 | 400 | 698 | ||||||
4.000%, 01/20/2017 | EUR | 200 | 282 | |||||
BAT International Finance MTN | ||||||||
7.250%, 03/12/2024 | 250 | 515 | ||||||
5.375%, 06/29/2017 | EUR | 425 | 640 | |||||
Bishopsgate Asset Finance | ||||||||
4.808%, 08/14/2044 | 192 | 288 | ||||||
BP Capital Markets | ||||||||
3.830%, 10/06/2017 | EUR | 350 | 501 | |||||
2.994%, 02/18/2019 | EUR | 300 | 416 | |||||
2.500%, 11/06/2022 | 400 | 389 | ||||||
British American Tobacco Holdings MTN | ||||||||
4.000%, 07/07/2020 | 100 | 147 | ||||||
British Telecommunications | ||||||||
6.375%, 06/23/2037 | 120 | 225 | ||||||
5.750%, 12/07/2028 | 411 | 744 | ||||||
Centrica MTN | ||||||||
4.375%, 03/13/2029 | 300 | 488 | ||||||
4.250%, 09/12/2044 | 200 | 292 | ||||||
Coventry Building Society MTN | ||||||||
4.625%, 04/19/2018 | 230 | 403 | ||||||
2.250%, 12/04/2017 | EUR | 150 | 195 | |||||
Diageo Capital MTN | ||||||||
5.500%, 07/01/2013 | 550 | 714 | ||||||
Direct Line Insurance Group | ||||||||
9.250%, 04/27/2042 (A) | 100 | 186 | ||||||
Eastern Power Networks MTN | ||||||||
6.250%, 11/12/2036 | 160 | 305 | ||||||
ENW Finance MTN | ||||||||
6.125%, 07/21/2021 | 350 | 643 | ||||||
Eversholt Funding MTN | ||||||||
5.831%, 12/02/2020 | 100 | 181 | ||||||
Experian Finance MTN | ||||||||
4.750%, 11/23/2018 | 300 | 518 | ||||||
FCE Bank MTN | ||||||||
5.125%, 11/16/2015 | 200 | 327 | ||||||
4.825%, 02/15/2017 | 200 | 331 | ||||||
1.875%, 05/12/2016 | 250 | 324 | ||||||
First Group PLC | ||||||||
5.250%, 11/29/2022 | 450 | 717 | ||||||
First Hydro Finance | ||||||||
9.000%, 07/31/2021 | 220 | 414 | ||||||
G4S International Finance MTN | ||||||||
2.625%, 12/06/2018 | EUR | 100 | 130 | |||||
Great Rolling Stock MTN | ||||||||
6.250%, 07/27/2020 | 300 | 552 |
6 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Heathrow Funding MTN | ||||||||
7.125%, 02/14/2024 | 150 | $ | 279 | |||||
HJ Heinz Finance UK | ||||||||
6.250%, 02/18/2030 | 115 | 189 | ||||||
HSBC Bank | ||||||||
4.125%, 08/12/2020 | 375 | 412 | ||||||
HSBC Holdings MTN | ||||||||
9.875%, 04/08/2018 (A) | 80 | 121 | ||||||
6.500%, 05/20/2024 | 250 | 484 | ||||||
4.000%, 03/30/2022 | USD | 145 | 156 | |||||
Imperial Tobacco Finance MTN | ||||||||
8.375%, 02/17/2016 | EUR | 75 | 115 | |||||
7.750%, 06/24/2019 | 600 | 1,181 | ||||||
7.250%, 09/15/2014 | EUR | 150 | 210 | |||||
4.375%, 11/22/2013 | 550 | 721 | ||||||
Intu Finance MTN | ||||||||
3.875%, 03/17/2023 (E) | 250 | 395 | ||||||
Lloyds TSB Bank MTN | ||||||||
4.625%, 02/02/2017 | 270 | 389 | ||||||
Mondi Finance MTN | ||||||||
3.375%, 09/28/2020 | EUR | 250 | 329 | |||||
Motability Operations Group MTN | ||||||||
3.750%, 11/29/2017 | EUR | 300 | 428 | |||||
National Westminster Bank | ||||||||
6.500%, 09/07/2021 | 220 | 363 | ||||||
Nationwide Building Society | ||||||||
3.125%, 10/13/2016 | EUR | 175 | 243 | |||||
Network Rail Infrastructure Finance MTN | ||||||||
4.400%, 03/06/2016 | CAD | 690 | 722 | |||||
Northern Rock | ||||||||
5.625%, 06/22/2017 (B) | USD | 1,750 | 2,028 | |||||
Northumbrian Water Finance | ||||||||
6.000%, 10/11/2017 | 500 | 896 | ||||||
Rolls-Royce | ||||||||
6.750%, 04/30/2019 | 100 | 192 | ||||||
Royal Bank of Scotland | ||||||||
5.750%, 05/21/2014 | EUR | 600 | 811 | |||||
5.125%, 01/13/2024 | 400 | 739 | ||||||
Severn Trent Utilities Finance | ||||||||
6.250%, 06/07/2029 | 350 | 691 | ||||||
SSE MTN | ||||||||
5.750%, 02/05/2014 | 245 | 387 | ||||||
Standard Chartered MTN | ||||||||
4.000%, 07/12/2022 (A) | 390 | 403 | ||||||
Tesco | ||||||||
6.052%, 10/13/2039 | 336 | 607 | ||||||
United Kingdom Gilt | ||||||||
6.000%, 12/07/2028 | 400 | 893 | ||||||
4.500%, 12/07/2042 | 2,215 | 4,270 | ||||||
4.250%, 06/07/2032 | 265 | 493 | ||||||
4.250%, 12/07/2049 | 25 | 46 | ||||||
4.250%, 12/07/2055 | 175 | 329 | ||||||
1.750%, 09/07/2022 | 750 | 1,139 | ||||||
1.000%, 09/07/2017 | 1,945 | 3,002 | ||||||
United Kingdom Treasury | ||||||||
4.750%, 09/07/2015 | 750 | 1,265 | ||||||
4.750%, 12/07/2030 | 1,240 | 2,444 | ||||||
4.750%, 12/07/2038 | 956 | 1,903 | ||||||
4.250%, 03/07/2036 | 550 | 1,016 | ||||||
4.250%, 09/07/2039 | 885 | 1,633 | ||||||
4.250%, 12/07/2046 | 385 | 714 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
4.000%, 03/07/2022 | 135 | $ | 246 | |||||
2.000%, 01/22/2016 | 533 | 848 | ||||||
1.750%, 01/22/2017 | 1,670 | 2,661 | ||||||
United Kingdom Treasury, Ser 2002 | ||||||||
5.000%, 09/07/2014 | 550 | 893 | ||||||
Virgin Media Secured Finance | ||||||||
7.000%, 01/15/2018 | 180 | 291 | ||||||
Voyage Care Bondco | ||||||||
6.500%, 08/01/2018 | 150 | 232 | ||||||
Wales & West Utilities Finance MTN | ||||||||
6.750%, 12/17/2036 (A) | 200 | 364 | ||||||
Western Power Distribution South West | ||||||||
5.750%, 03/23/2040 | 200 | 360 | ||||||
Westfield UK & Europe Finance MTN | ||||||||
4.250%, 07/11/2022 | 300 | 493 | ||||||
William Hill | ||||||||
7.125%, 11/11/2016 | 100 | 170 | ||||||
WPP MTN | ||||||||
6.625%, 05/12/2016 | EUR | 225 | 335 | |||||
Yorkshire Power Finance | ||||||||
7.250%, 08/04/2028 | 208 | 419 | ||||||
Yorkshire Water Services Bradford Finance | ||||||||
6.375%, 08/19/2039 | 100 | 199 | ||||||
|
| |||||||
58,959 | ||||||||
|
| |||||||
United States — 5.6% | ||||||||
Aetna | ||||||||
2.750%, 11/15/2022 | 165 | 161 | ||||||
Alcoa | ||||||||
5.400%, 04/15/2021 | 215 | 223 | ||||||
Altria Group | ||||||||
4.750%, 05/05/2021 | 180 | 204 | ||||||
4.250%, 08/09/2042 | 265 | 250 | ||||||
American International Group | ||||||||
8.175%, 05/15/2058 (A) | 240 | 323 | ||||||
5.850%, 01/16/2018 | 245 | 287 | ||||||
AT&T | ||||||||
5.875%, 04/28/2017 | GBP | 200 | 356 | |||||
4.875%, 06/01/2044 | GBP | 430 | 680 | |||||
4.450%, 05/15/2021 | 525 | 591 | ||||||
3.550%, 12/17/2032 | 200 | 260 | ||||||
Bank of America MTN | ||||||||
5.650%, 05/01/2018 | 350 | 405 | ||||||
Bank of America, Ser E MTN | ||||||||
5.125%, 09/26/2014 | EUR | 1,700 | 2,311 | |||||
Bristol-Myers Squibb | ||||||||
2.000%, 08/01/2022 | 670 | 635 | ||||||
CCO Holdings | ||||||||
8.125%, 04/30/2020 | 90 | 101 | ||||||
Chevron | ||||||||
2.355%, 12/05/2022 | 810 | 804 | ||||||
Citigroup | ||||||||
5.875%, 01/30/2042 | 75 | 90 | ||||||
5.000%, 08/02/2019 | 230 | 345 | ||||||
4.500%, 01/14/2022 | 60 | 67 | ||||||
4.450%, 01/10/2017 | 550 | 606 | ||||||
4.250%, 02/25/2030 (A) | EUR | 1,400 | 1,687 |
7 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
ConocoPhillips | ||||||||
1.050%, 12/15/2017 | 345 | $ | 344 | |||||
Digital Stout Holding MTN | ||||||||
4.250%, 01/17/2025 (E) | 150 | 232 | ||||||
DIRECTV Holdings | ||||||||
3.800%, 03/15/2022 | 310 | 317 | ||||||
General Electric | ||||||||
2.700%, 10/09/2022 | 320 | 320 | ||||||
General Electric Capital MTN | ||||||||
5.500%, 01/08/2020 | 305 | 361 | ||||||
5.300%, 02/11/2021 | 205 | 235 | ||||||
4.625%, 01/07/2021 | 750 | 844 | ||||||
Goldman Sachs Group MTN | ||||||||
6.375%, 05/02/2018 | EUR | 400 | 619 | |||||
5.750%, 01/24/2022 | 120 | 140 | ||||||
3.250%, 02/01/2023 | 400 | 521 | ||||||
Ingersoll-Rand Global Holding | ||||||||
9.500%, 04/15/2014 | 213 | 232 | ||||||
International Business Machines MTN | ||||||||
1.375%, 11/19/2019 | 250 | 319 | ||||||
JPMorgan Chase | ||||||||
4.500%, 01/24/2022 | 200 | 219 | ||||||
0.611%, 10/12/2015 (A) | EUR | 350 | 440 | |||||
JPMorgan Chase Bank | ||||||||
0.877%, 05/31/2017 (A) | EUR | 1,250 | 1,570 | |||||
Kroger | ||||||||
3.400%, 04/15/2022 | 36 | 38 | ||||||
Macy’s Retail Holdings | ||||||||
3.875%, 01/15/2022 | 190 | 200 | ||||||
Merrill Lynch MTN | ||||||||
0.733%, 09/14/2018 (A) | EUR | 375 | 439 | |||||
Metropolitan Life Global Funding I MTN | ||||||||
4.625%, 05/16/2017 | EUR | 200 | 291 | |||||
Mondelez International | ||||||||
7.000%, 08/11/2037 | 200 | 269 | ||||||
5.375%, 02/10/2020 | 400 | 476 | ||||||
2.625%, 05/08/2013 | 625 | 626 | ||||||
Morgan Stanley | ||||||||
5.625%, 09/23/2019 | 175 | 201 | ||||||
5.375%, 08/10/2020 | EUR | 150 | 223 | |||||
3.750%, 09/21/2017 | EUR | 350 | 478 | |||||
3.750%, 02/25/2023 | 205 | 207 | ||||||
Motorola Solutions | ||||||||
3.500%, 03/01/2023 | 178 | 179 | ||||||
Nabors Industries | ||||||||
9.250%, 01/15/2019 | 221 | 284 | ||||||
NBCUniversal Media | ||||||||
4.375%, 04/01/2021 | 375 | 422 | ||||||
News America | ||||||||
4.500%, 02/15/2021 | 210 | 237 | ||||||
Omnicom Group | ||||||||
3.625%, 05/01/2022 | 130 | 133 | ||||||
Owens Corning | ||||||||
6.500%, 12/01/2016 | 145 | 163 | ||||||
Philip Morris International | ||||||||
2.900%, 11/15/2021 | 325 | 335 | ||||||
2.875%, 05/30/2024 | EUR | 100 | 133 | |||||
2.125%, 05/30/2019 | EUR | 100 | 132 | |||||
PNC Funding | ||||||||
5.125%, 02/08/2020 | 300 | 351 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
3.300%, 03/08/2022 | 150 | $ | 155 | |||||
Principal Financial Group | ||||||||
1.850%, 11/15/2017 | 175 | 177 | ||||||
Proctor and Gamble | ||||||||
2.000%, 08/16/2022 | EUR | 200 | 258 | |||||
Prudential Financial | ||||||||
5.625%, 06/15/2043 (A) | 545 | 564 | ||||||
Rabobank Capital Funding Trust IV | ||||||||
5.556%, 12/31/2019 (A) | GBP | 153 | 230 | |||||
Republic Services | ||||||||
4.750%, 05/15/2023 | 155 | 176 | ||||||
Reynolds American | ||||||||
3.250%, 11/01/2022 | 361 | 357 | ||||||
Ryder System MTN | ||||||||
5.850%, 11/01/2016 | 116 | 132 | ||||||
SABMiller Holdings MTN | ||||||||
1.875%, 01/20/2020 | 200 | 259 | ||||||
SLM | ||||||||
5.500%, 01/25/2023 | 261 | 259 | ||||||
Time Warner Cable | ||||||||
6.200%, 07/01/2013 | 750 | 760 | ||||||
Transocean | ||||||||
2.500%, 10/15/2017 | 173 | 175 | ||||||
United Technologies | ||||||||
1.800%, 06/01/2017 | 201 | 207 | ||||||
UnitedHealth Group | ||||||||
2.750%, 02/15/2023 | 120 | 118 | ||||||
WellPoint | ||||||||
4.650%, 01/15/2043 | 110 | 110 | ||||||
Wells Fargo MTN | ||||||||
4.600%, 04/01/2021 | 75 | 86 | ||||||
3.500%, 03/08/2022 | 235 | 247 | ||||||
2.625%, 08/16/2022 | EUR | 400 | 525 | |||||
Williams | ||||||||
3.700%, 01/15/2023 | 354 | 351 | ||||||
Wynn Las Vegas | ||||||||
5.375%, 03/15/2022 | 235 | 246 | ||||||
|
| |||||||
28,308 | ||||||||
|
| |||||||
Total Global Bonds | 474,009 | |||||||
|
| |||||||
MORTGAGE-BACKED SECURITIES — 2.3% |
| |||||||
Agency Mortgage-Backed Obligation — 0.0% |
| |||||||
FHLMC, Ser K501-X1A, IO | ||||||||
1.755%, 08/25/2016 (A)(D) | 331 | 15 | ||||||
|
| |||||||
Non-Agency Mortgage-Backed Obligation — 2.3% |
| |||||||
Banc of America Merrill Lynch Commercial Mortgage, Ser 2005-6 | ||||||||
5.187%, 09/10/2047 (A) | 140 | 154 | ||||||
BB-UBS Trust, Ser 2012-SHOW, Cl A | ||||||||
3.430%, 11/05/2036 (B) | 100 | 101 | ||||||
Bear Stearns Adjustable Rate Mortgage Trust, Ser 2004-6, Cl 3A | ||||||||
5.424%, 09/25/2034 (A) | 181 | 183 |
8 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Bear Stearns Commercial Mortgage Securities, Ser 2005-PWR8 | ||||||||
4.674%, 06/11/2041 | 50 | $ | 53 | |||||
Bear Stearns Commercial Mortgage Securities, Ser 2005-T18, Cl A4 | ||||||||
4.933%, 02/13/2042 (A) | 134 | 143 | ||||||
Bear Stearns Commercial Mortgage Securities, Ser 2006-PW11, Cl A4 | ||||||||
5.619%, 03/11/2039 (A) | 450 | 501 | ||||||
Bear Stearns Commercial Mortgage Securities, Ser 2006-T22, Cl A4 | ||||||||
5.573%, 04/12/2038 (A) | 125 | 139 | ||||||
Bear Stearns Commercial Mortgage Securities, Ser 2006-T24, Cl A4 | ||||||||
5.537%, 10/12/2041 | 400 | 455 | ||||||
Bear Stearns Commercial Mortgage Securities, Ser 2007-PW16, Cl A4 | ||||||||
5.716%, 06/11/2040 (A) | 241 | 280 | ||||||
Bear Stearns Commercial Mortgage Securities, Ser PW10, Cl A4 | ||||||||
5.405%, 12/11/2040 (A) | 55 | 61 | ||||||
Canary Wharf Finance, Ser II, Cl C2 | ||||||||
1.061%, 10/22/2037 (A)(D) | 200 | 213 | ||||||
CD Commercial Mortgage Trust, Ser 2005-CD1 | ||||||||
5.219%, 07/15/2044 (A) | 75 | 82 | ||||||
Citigroup Commercial Mortgage Trust, Ser 2008-C7, Cl A4 | ||||||||
6.262%, 12/10/2049 (A) | 405 | 479 | ||||||
Citigroup Mortgage Loan Trust, Ser 2005-2, Cl 1A4 | ||||||||
2.735%, 05/25/2035 (A) | 834 | 804 | ||||||
Citigroup, Ser 2007-CD4, Cl A4 | ||||||||
5.322%, 12/11/2049 | 50 | 57 | ||||||
Commercial Mortgage Loan Trust, Ser 2008-LS1, Cl A4B | ||||||||
6.005%, 12/10/2049 (A) | 90 | 105 | ||||||
Commercial Mortgage Pass Through Certificates, Ser WWP, Cl A2 | ||||||||
3.424%, 03/10/2031 (B) | 100 | 103 | ||||||
Commercial Mortgage Pass-Through Certificates, Ser 2012-CR3, Cl E | ||||||||
4.769%, 11/15/2045 (A)(B) | 115 | 110 | ||||||
Commercial Mortgage Pass-Through Certificates, Ser 2012-CR5, Cl A4 | ||||||||
2.771%, 12/10/2045 | 65 | 65 | ||||||
Credit Suisse Mortgage Capital Certificates, Ser 2006-C5, Cl A3 | ||||||||
5.311%, 12/15/2039 | 50 | 56 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
CW Capital Cobalt, Ser 2006-C1, Cl A4 | ||||||||
5.223%, 08/15/2048 | 140 | $ | 156 | |||||
Eddystone Finance, Ser 2006-1, Cl A2 | ||||||||
0.741%, 04/19/2021 (A)(D) | 150 | 214 | ||||||
Fosse Master Issuer, Ser 2011-1X, Cl A3 | ||||||||
1.932%, 10/18/2054 (A) | 255 | 392 | ||||||
Granite Master Issuer, Ser 2005-1, Cl A5 | ||||||||
0.299%, 12/20/2054 (A)(D) | 159 | �� | 201 | |||||
Granite Master Issuer, Ser 2006-2, Cl A5 | ||||||||
0.319%, 12/20/2054 (A)(D) | 314 | 397 | ||||||
Greenwich Capital Commercial Funding, Ser 2006-GG7, Cl A4 | ||||||||
5.862%, 07/10/2038 (A) | 50 | 56 | ||||||
Greenwich Capital Commercial Funding, Ser 2007-GG9, Cl A4 | ||||||||
5.444%, 03/10/2039 | 125 | 142 | ||||||
GS Mortgage Securities II, Ser 2005-ROCK, Cl A | ||||||||
5.366%, 05/03/2032 (B) | 50 | 61 | ||||||
GS Mortgage Securities II, Ser 2012-ALOH | ||||||||
3.551%, 04/10/2034 (B) | 181 | 190 | ||||||
GS Mortgage Securities II, Ser 2012-GCJ7, Cl A4 | ||||||||
3.377%, 05/10/2045 | 60 | 64 | ||||||
GS Mortgage Securities II, Ser 2012-GCJ9, Cl A3 | ||||||||
2.773%, 11/10/2045 | 125 | 125 | ||||||
GSR Mortgage Loan Trust, Ser 2005-AR1, Cl 4A1 | ||||||||
5.064%, 01/25/2035 (A) | 233 | 229 | ||||||
JPMorgan Chase Commercial Mortgage Securities, Ser 2005-CB13, Cl A4 | ||||||||
5.294%, 01/12/2043 (A) | 75 | 82 | ||||||
JPMorgan Chase Commercial Mortgage Securities, Ser 2005-CIBC11 | ||||||||
5.335%, 08/12/2037 (A) | 95 | 102 | ||||||
JPMorgan Chase Commercial Mortgage Securities, Ser 2007-CB18, Cl A4 | ||||||||
5.440%, 06/12/2047 | 880 | 998 | ||||||
JPMorgan Chase Commercial Mortgage Securities, Ser 2008-C2 | ||||||||
6.068%, 02/12/2051 | 170 | 188 | ||||||
JPMorgan Chase Commercial Mortgage Securities, Ser 2012-C8, Cl E | ||||||||
4.670%, 10/15/2045 (A)(B) | 100 | 95 | ||||||
JPMorgan Chase Commercial Mortgage Securities, Ser 2012-LC9, Cl A5 | ||||||||
2.840%, 12/15/2047 | 185 | 185 |
9 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
JPMorgan Mortgage Trust, Ser 2004-A5, Cl 3A1 | ||||||||
4.918%, 12/25/2034 (A) | 190 | $ | 192 | |||||
LB-UBS Commercial Mortgage Trust, Ser 2005-C7, Cl A4 | ||||||||
5.197%, 11/15/2030 (A) | 120 | 130 | ||||||
LB-UBS Commercial Mortgage Trust, Ser 2008-C1, Cl A2 | ||||||||
6.153%, 04/15/2041 (A) | 11 | 13 | ||||||
LB-UBS Commercial Mortgage Trust, Ser C2, Cl A3 | ||||||||
5.430%, 02/15/2040 | 365 | 411 | ||||||
Merrill Lynch Mortgage Trust, Ser 2005-CIP1 | ||||||||
5.047%, 07/12/2038 (A) | 125 | 136 | ||||||
Merrill Lynch Mortgage Trust, Ser 2005-CKI1 | ||||||||
5.273%, 11/12/2037 (A) | 125 | 136 | ||||||
Merrill Lynch Mortgage Trust, Ser 2005-LC1, Cl A4 | ||||||||
5.291%, 01/12/2044 (A) | 363 | 398 | ||||||
Merrill Lynch, Ser 2007-7, Cl A4 | ||||||||
5.741%, 06/12/2050 (A) | 285 | 326 | ||||||
Morgan Stanley Capital I Trust, Ser 2005-T19, Cl A4A | ||||||||
4.890%, 06/12/2047 | 75 | 81 | ||||||
Morgan Stanley Capital I Trust, Ser 2006-T21, Cl A4 | ||||||||
5.162%, 10/12/2052 (A) | 175 | 192 | ||||||
Morgan Stanley Re-REMIC Trust, Ser 2010-GG10, Cl A4A | ||||||||
5.791%, 08/15/2045 (A)(B) | 100 | 115 | ||||||
Silverstone Master Issuer, | ||||||||
2.225%, 01/21/2055 (A) | 300 | 464 | ||||||
UBS-Barclays Commercial Mortgage Trust, Ser 2012-C2, Cl A4 | ||||||||
3.525%, 05/10/2063 | 170 | 180 | ||||||
UBS-Barclays Commercial Mortgage Trust, Ser 2012-C3, Cl D | ||||||||
4.958%, 08/10/2049 (A)(B) | 115 | 111 | ||||||
UBS-Barclays Commercial Mortgage Trust, Ser 2012-C3, Cl A4 | ||||||||
3.091%, 08/10/2049 | 125 | 128 | ||||||
UBS-Barclays Commercial Mortgage Trust, Ser 2013-C5, Cl A4 | ||||||||
3.185%, 03/10/2046 | 150 | 154 | ||||||
Wells Fargo Commercial Mortgage Trust, Ser LC5, Cl D | ||||||||
4.780%, 10/15/2045 (A)(B) | 41 | 39 | ||||||
WFRBS Commercial Mortgage Trust, Ser 2011-C2, Cl A4 | ||||||||
4.869%, 02/15/2044 (A)(B) | 50 | 58 | ||||||
WFRBS Commercial Mortgage Trust, Ser 2011-C4, Cl A4 | ||||||||
4.902%, 06/15/2044 (A)(B) | 250 | 292 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
WFRBS Commercial Mortgage Trust, Ser 2012-C10, Cl A3 | ||||||||
2.875%, 12/15/2045 | 130 | $ | 131 | |||||
WFRBS Commercial Mortgage Trust, Ser 2013-C11, Cl A5 | ||||||||
3.071%, 03/15/2045 | 100 | 102 | ||||||
|
| |||||||
11,810 | ||||||||
|
| |||||||
Total Mortgage-Backed Securities | 11,825 | |||||||
|
| |||||||
CORPORATE OBLIGATIONS — 1.6% | ||||||||
United States — 1.6% | ||||||||
AbbVie | ||||||||
4.400%, 11/06/2042 (B) | 90 | 91 | ||||||
2.900%, 11/06/2022 (B) | 255 | 255 | ||||||
1.750%, 11/06/2017 (B) | 49 | 50 | ||||||
American Express Credit MTN | ||||||||
2.750%, 09/15/2015 | 400 | 418 | ||||||
Anadarko Petroleum | ||||||||
6.375%, 09/15/2017 | 330 | 394 | ||||||
Ball | ||||||||
5.000%, 03/15/2022 | 230 | 239 | ||||||
Bank of America MTN | ||||||||
5.000%, 05/13/2021 | �� | 175 | 196 | |||||
BE Aerospace | ||||||||
5.250%, 04/01/2022 | 230 | 237 | ||||||
CBS | ||||||||
4.300%, 02/15/2021 | 300 | 327 | ||||||
Cimarex Energy | ||||||||
5.875%, 05/01/2022 | 116 | 124 | ||||||
CMS Energy | ||||||||
5.050%, 03/15/2022 | 140 | 161 | ||||||
CNA Financial | ||||||||
7.250%, 11/15/2023 | 110 | 140 | ||||||
6.500%, 08/15/2016 | 40 | 46 | ||||||
Duke Realty | ||||||||
6.750%, 03/15/2020 (E) | 140 | 171 | ||||||
Eagle Spinco | ||||||||
4.625%, 02/15/2021 (B) | 48 | 49 | ||||||
Enterprise Products Operating | ||||||||
5.950%, 02/01/2041 | 100 | 116 | ||||||
General Electric Capital MTN | ||||||||
5.550%, 05/04/2020 | 45 | 54 | ||||||
2.375%, 06/30/2015 | 150 | 155 | ||||||
Goldman Sachs Group | ||||||||
6.000%, 06/15/2020 | 45 | 53 | ||||||
Humana | ||||||||
7.200%, 06/15/2018 | 280 | 343 | ||||||
Kinder Morgan Energy Partners | ||||||||
3.500%, 09/01/2023 | 171 | 173 | ||||||
Lincoln National | ||||||||
8.750%, 07/01/2019 | 128 | 173 | ||||||
Lorillard Tobacco | ||||||||
6.875%, 05/01/2020 | 275 | 333 | ||||||
McGraw-Hill | ||||||||
5.900%, 11/15/2017 | 325 | 367 | ||||||
Morgan Stanley | ||||||||
3.450%, 11/02/2015 | 125 | 131 | ||||||
Motorola Solutions | ||||||||
7.500%, 05/15/2025 | 85 | 108 | ||||||
Nisource Finance | ||||||||
6.800%, 01/15/2019 | 235 | 287 |
10 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Noble Energy | ||||||||
8.250%, 03/01/2019 | 250 | $ | 326 | |||||
Noble Holding International | ||||||||
4.900%, 08/01/2020 | 25 | 28 | ||||||
PNC Bank | ||||||||
2.700%, 11/01/2022 | 445 | 432 | ||||||
Prudential Financial MTN | ||||||||
6.100%, 06/15/2017 | 125 | 147 | ||||||
Ryder System MTN | ||||||||
7.200%, 09/01/2015 | 108 | 123 | ||||||
SABMiller Holdings | ||||||||
3.750%, 01/15/2022 (B) | 400 | 428 | ||||||
Time Warner | ||||||||
4.875%, 03/15/2020 | 150 | 172 | ||||||
Time Warner Cable | ||||||||
7.500%, 04/01/2014 | 385 | 411 | ||||||
Union Electric | ||||||||
6.700%, 02/01/2019 | 45 | 56 | ||||||
Viacom | ||||||||
6.125%, 10/05/2017 | 325 | 385 | ||||||
Wachovia Capital Trust III | ||||||||
5.570%, 12/31/2049 (A) | 385 | 386 | ||||||
|
| |||||||
Total Corporate Obligations | 8,085 | |||||||
|
| |||||||
U.S. TREASURY OBLIGATIONS — 0.5% |
| |||||||
U.S. Treasury Notes | ||||||||
2.000%, 02/15/2022 | 1,175 | 1,208 | ||||||
0.750%, 12/31/2017 | 830 | 831 | ||||||
U.S. Treasury Bond | ||||||||
3.125%, 02/15/2043 | 410 | 411 | ||||||
|
| |||||||
Total U.S. Treasury Obligations | 2,450 | |||||||
|
| |||||||
ASSET-BACKED SECURITY — 0.1% | ||||||||
Automotive — 0.1% | ||||||||
Bank of America Auto Trust, Ser 2012-1, Cl A2 | ||||||||
0.590%, 11/17/2014 | 480 | 481 | ||||||
|
| |||||||
Total Asset-Backed Security (Cost $481) ($ Thousands) | 481 | |||||||
|
|
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
TIME DEPOSITS — 2.0% | ||||||||
United States — 2.0% | ||||||||
Brown Brothers Harriman | ||||||||
4.150%, 04/01/2013 | ZAR | — | $ | — | ||||
2.070%, 04/01/2013 | AUD | 20 | 21 | |||||
1.450%, 04/01/2013 | NZD | 22 | 18 | |||||
0.650%, 04/01/2013 | NOK | 346 | 59 | |||||
0.233%, 04/01/2013 | CAD | 24 | 24 | |||||
0.071%, 04/01/2013 | GBP | 68 | 103 | |||||
0.050%, 04/01/2013 | SEK | 107 | 16 | |||||
0.030%, 04/01/2013 | 8,353 | 8,353 | ||||||
0.010%, 04/01/2013 | SGD | 21 | 17 | |||||
0.005%, 04/01/2013 | JPY | 9,511 | 101 | |||||
0.005%, 04/01/2013 | HKD | 2 | — | |||||
0.001%, 04/01/2013 | CHF | — | — | |||||
(0.028)%, 04/01/2013 | EUR | 1,077 | 1,380 | |||||
(0.150)%, 04/01/2013 | DKK | 1 | — | |||||
|
| |||||||
Total Time Deposits (Cost $10,092) ($ Thousands) | 10,092 | |||||||
|
| |||||||
Total Investments — 99.5% | $ | 506,942 | ||||||
|
|
A list of the open futures contracts held by the Fund at March 31, 2013, is as follows:
Type of Contract | Number of Contracts Long (Short) | Expiration Date | Unrealized Appreciation (Depreciation) ($ Thousands) | |||||||||
10-YR MINI JGB | 2 | Jun-2013 | $ | — | ||||||||
Australian 10-Year Bond | 17 | Jun-2013 | 26 | |||||||||
Australian 3-Year Bond | (7 | ) | Jun-2013 | (3 | ) | |||||||
Canadian 10-Year Bond | 3 | Jun-2013 | 3 | |||||||||
Euro-Bobl | 60 | Jun-2013 | 62 | |||||||||
Euro-BTP | (1 | ) | Jun-2013 | (1 | ) | |||||||
Euro-Bund | 33 | Jun-2013 | 51 | |||||||||
Euro-Buxl 30 Year Bond | (1 | ) | Jun-2013 | (2 | ) | |||||||
FIN FUT EUR | 8 | Jun-2013 | 13 | |||||||||
Japanese 10-Year Bond | 4 | Jun-2013 | 22 | |||||||||
Long Gilt 10-Year Bond | (34 | ) | Jun-2013 | (119 | ) | |||||||
U.S. 10-Year Treasury Note | (52 | ) | Jun-2013 | (57 | ) | |||||||
U.S. 2-Year Treasury Note | (59 | ) | Jun-2013 | (2 | ) | |||||||
U.S. 5-Year Treasury Note | (114 | ) | Jun-2013 | (18 | ) | |||||||
U.S. Long Treasury Bond | 20 | Jun-2013 | 3 | |||||||||
U.S. Long Treasury Bond | (7 | ) | Jun-2013 | (14 | ) | |||||||
U.S. Ultra Long Treasury Bond | (4 | ) | Jun-2013 | — | ||||||||
|
| |||||||||||
$ | (36 | ) | ||||||||||
|
|
For the six months ended March 31, 2013, 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 period.
11 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
A list of the open forward foreign currency contracts held by the Fund at March 31, 2013, is as follows:
Settlement Date | Currency to Deliver | Currency to Receive | Unrealized Appreciation (Depreciation) ($ Thousands) | |||||||||||||||||
04/03/2013-04/30/2013 | AUD | 12,806 | USD | 13,158 | $ | (151 | ) | |||||||||||||
04/03/2013-04/30/2013 | CAD | 26,056 | USD | 25,385 | (255 | ) | ||||||||||||||
04/03/2013-04/30/2013 | DKK | 36,195 | USD | 6,337 | 114 | |||||||||||||||
04/03/2013-04/30/2013 | GBP | 42,450 | USD | 64,296 | (194 | ) | ||||||||||||||
04/03/2013-04/30/2013 | SEK | 39,384 | USD | 6,106 | 63 | |||||||||||||||
04/03/2013-05/02/2013 | EUR | 177,254 | USD | 230,939 | 3,738 | |||||||||||||||
04/03/2013-05/03/2013 | JPY | 9,414,763 | USD | 100,378 | 358 | |||||||||||||||
04/03/2013-05/03/2013 | USD | 4,763 | EUR | 3,702 | (18 | ) | ||||||||||||||
04/08/2013-04/30/2013 | MYR | 1,446 | USD | 463 | (3 | ) | ||||||||||||||
04/10/2013 | PEI | 2,023 | USD | 782 | 1 | |||||||||||||||
04/11/2013-04/30/2013 | USD | 1,766 | GBP | 1,168 | 8 | |||||||||||||||
04/12/2013-04/30/2013 | USD | 3,886 | MXN | 49,658 | 129 | |||||||||||||||
04/12/2013-05/02/2013 | USD | 1,929 | JPY | 184,240 | 29 | |||||||||||||||
04/12/2013-06/20/2013 | MXN | 46,746 | USD | 3,634 | (131 | ) | ||||||||||||||
04/19/2013 | TRY | 2,899 | USD | 1,601 | 2 | |||||||||||||||
04/26/2013 | NZD | 353 | USD | 292 | (3 | ) | ||||||||||||||
04/26/2013 | USD | 730 | SGD | 911 | 5 | |||||||||||||||
04/26/2013-04/30/2013 | CZK | 23,835 | USD | 1,202 | 15 | |||||||||||||||
04/30/2013 | CHF | 1,625 | USD | 1,721 | 9 | |||||||||||||||
04/30/2013 | KRW | 2,756,744 | USD | 2,472 | (5 | ) | ||||||||||||||
04/30/2013 | NOK | 2,937 | USD | 502 | (1 | ) | ||||||||||||||
04/30/2013 | PLN | 2,145 | USD | 664 | 6 | |||||||||||||||
04/30/2013 | SGD | 1,399 | USD | 1,118 | (11 | ) | ||||||||||||||
04/30/2013 | THB | 16,305 | USD | 559 | 3 | |||||||||||||||
04/30/2013 | USD | 290 | NOK | 1,690 | (1 | ) | ||||||||||||||
04/30/2013 | USD | 659 | SEK | 4,280 | (3 | ) | ||||||||||||||
04/30/2013 | ZAR | 8,782 | USD | 939 | (14 | ) | ||||||||||||||
|
| |||||||||||||||||||
$ | 3,690 | |||||||||||||||||||
|
|
A list of the counterparties for the open forward foreign currency contracts held by the Fund at March 31, 2013, is as follows:
Counterparty | Settlement Date | Currency to Deliver ($ Thousands) | Currency to ($ Thousands) | Unrealized Appreciation (Depreciation) ($ Thousands) | ||||||||||||
Bank of America | 04/03/2013-04/30/2013 | (3,648 | ) | 3,663 | $ | 15 | ||||||||||
Banyan Securities | 04/03/2013-04/11/2013 | (123,094 | ) | 125,069 | 1,975 | |||||||||||
Barclays PLC | 04/03/2013-04/30/2013 | (10,649 | ) | 10,586 | (63 | ) | ||||||||||
BMO Nesbitt Burns | 04/03/2013-04/10/2013 | (30,704 | ) | 31,327 | 623 | |||||||||||
BNP Paribas | 04/10/2013-04/30/2013 | (9,474 | ) | 9,547 | 73 | |||||||||||
Brown Brothers Harriman | 04/03/2013-05/03/2013 | (3,476 | ) | 3,514 | 38 | |||||||||||
Citigroup | 04/26/2013-04/30/2013 | (3,854 | ) | 3,859 | 5 | |||||||||||
Credit Suisse First Boston | 04/11/2013-04/30/2013 | (3,849 | ) | 3,837 | (12 | ) | ||||||||||
Deutsche Bank | 04/30/2013 | (3,321 | ) | 3,329 | 8 | |||||||||||
Goldis Financial Group | 04/18/2013 | (1,853 | ) | 1,890 | 37 | |||||||||||
Goldman Sachs | 04/12/2013-04/30/2013 | (5,248 | ) | 5,230 | (18 | ) | ||||||||||
HSBC | 04/11/2013-04/12/2013 | (1,924 | ) | 1,928 | 4 | |||||||||||
JPMorgan Chase Bank | 04/11/2013-04/30/2013 | (79,413 | ) | 79,798 | 385 | |||||||||||
National Alliance Capital | 04/03/2013-04/30/2013 | (43,792 | ) | 43,295 | (497 | ) | ||||||||||
Raymond James & Associates | 04/30/2013 | (1,530 | ) | 1,526 | (4 | ) | ||||||||||
Royal Bank of Canada | 04/11/2013 | (358 | ) | 357 | (1 | ) | ||||||||||
Royal Bank of Scotland | 04/11/2013-06/20/2013 | (16,892 | ) | 16,652 | (240 | ) | ||||||||||
Societe Generale | 04/03/2013 | (1,148 | ) | 1,145 | (3 | ) | ||||||||||
Standard Bank | 04/10/2013-04/12/2013 | (1,580 | ) | 1,577 | (3 | ) | ||||||||||
Starr Securities | 04/03/2013 | (292 | ) | 292 | — | |||||||||||
State Street | 04/03/2013-04/30/2013 | (9,409 | ) | 9,511 | 102 | |||||||||||
UBS | 04/11/2013-04/30/2013 | (97,315 | ) | 98,670 | 1,355 | |||||||||||
Westpac Banking | 04/30/2013 | (20,206 | ) | 20,117 | (89 | ) | ||||||||||
|
| |||||||||||||||
$ | 3,690 | |||||||||||||||
|
|
For the six months ended March 31, 2013, 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 period.
12 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
International Fixed Income Fund
March 31, 2013
A list of the open swap agreements held by the Fund at March 31, 2013, is as follows:
Interest Rate Swaps | ||||||||||||||||
Counterparty | Fund Pays | Fund Receives | Termination Date | Currency | Notional Amount (Thousands) | Net Unrealized Appreciation (Depreciation) | ||||||||||
Citigroup | 3.79% | 6-Month GBP LIBOR | 05/19/2019 | GBP | 2,500 | $ | (640 | ) | ||||||||
Deutsche Bank | 6-Month EURIBOR Flat | 1.77% | 09/07/2022 | EUR | 5,250 | 171 | ||||||||||
Deutsche Bank | 1.93% | 6-Month EURIBOR | 04/03/2019 | EUR | 4,200 | (359 | ) | |||||||||
JPMorgan Chase Bank | 6-Month JPY LIBOR | 2.22% | 03/26/2027 | JPY | 750,000 | 1,242 | ||||||||||
Merrill Lynch | 3-Month Canadian Bankers Acceptance Rate | 2.56% | 04/24/2022 | CAD | 2,000 | 73 | ||||||||||
Royal Bank of Scotland | 6-Month EURIBOR | 3.14% | 08/04/2021 | EUR | 1,450 | 290 | ||||||||||
UBS Warburg | 2.66% | 6-Month GBP LIBOR | 09/05/2032 | GBP | 1,000 | 18 | ||||||||||
UBS Warburg | 1.07% | 6-Month EURIBOR FLAT | 09/11/2017 | EUR | 2,000 | (43 | ) | |||||||||
|
| |||||||||||||||
$ | 752 | |||||||||||||||
|
|
Credit Default Swap | ||||||||||||||||||
Counterparty | Reference Entity/Obligation | Buy/Sell Protection | (Pays)/Receives Rate | Termination Date | Notional Amount | Net Unrealized Appreciation ($ Thousands) | ||||||||||||
JPMorgan Chase Bank | JPSW Itraxx Europe Series 19 5 Yr | BUY | 1.00 | % | 06/20/2018 | $ | 5,000 | $ | 18 | |||||||||
|
|
For the six months ended March 31, 2013, 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 period.
Percentages are based on a Net Assets of $509,330 ($ Thousands).
(1) | In local currency unless otherwise indicated. |
(A) | Variable Rate Security - The rate reported on the Schedule of Investments is the rate in effect as of March 31, 2013. |
(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) | Step Bonds - The rate reflected on the Schedule of Investments is the effective yield on March 31, 2013. The coupon on a step bond changes on a specified date. |
(D) | Securities considered illiquid. The total market value of such securities as of March 31, 2013 was $1,358 ($ Thousands) and represented 0.3% of Net Assets. |
(E) | Real Estate Investment Trust. |
AUD — Australian Dollar
CAD — Canadian Dollar
CHF — Swiss Franc
CZK — Czech Koruna
Cl — Class
DKK — Danish Krone
EUR — Euro
EURIBOR — Euro London Interbank Offered Rate
FHLMC — Federal Home Loan Mortgage Corporation
GBP — British Pound Sterling
HKD — Hong Kong Dollar
JPY — Japanese Yen
KRW — Korean Won
LIBOR — London Interbank Offered Rate
MTN — Medium Term Note
MXP — Mexican Peso
MYR — Malaysian Ringgit
NOK — Norwegian Krone
NZD — New Zealand Dollar
PLC — Public Limited Company
PLN — Polish Zlotty
SEK — Swedish Krone
Ser — Series
SGD — Singapore Dollar
TRY — Turkish Lira
USD — U.S. Dollar
ZAR — South African Rand
The following is a summary of the inputs used as of March 31, 2013, 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 | $ | — | | $ | 474,009 | $ | — | | $ | 474,009 | ||||||
Mortgage-Backed Securities | — | 11,825 | — | 11,825 | ||||||||||||
Corporate Obligations | — | 8,085 | — | 8,085 | ||||||||||||
U.S. Treasury Obligations | — | 2,450 | — | 2,450 | ||||||||||||
Asset-Backed Security | — | 481 | — | 481 | ||||||||||||
Time Deposits | — | 10,092 | — | 10,092 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | — | $ | 506,942 | $ | — | $ | 506,942 | ||||||||
|
|
|
|
|
|
|
|
Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Futures Contracts * | $ | (36 | ) | $ | — | $ | — | $ | (36 | ) | ||||||
Forwards Contracts * | — | 3,690 | — | 3,690 | ||||||||||||
Interest Rate Swaps * | — | 752 | — | 752 | ||||||||||||
Credit Default Swaps * | — | 18 | — | 18 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | $ | (36 | ) | $ | 4,460 | $ | — | $ | 4,424 | |||||||
|
|
|
|
|
|
|
|
* | 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, 2013, there were no transfers between Level 1 and Level 2 assets and liabilities.
For the six months ended March 31, 2013, there were no transfers between Level 2 and Level 3 assets and liabilities.
Amounts designated as “—” are $O or have been rounded to $O.
The accompanying notes are an integral part of the financial statements.
13 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
GLOBAL BONDS — 90.4% |
| |||||||
Angola — 0.1% |
| |||||||
Republic of Angola Via Northern Lights III | ||||||||
7.000%, 08/16/2019 | 387 | $ | 428 | |||||
7.000%, 08/16/2019 | 775 | 856 | ||||||
|
| |||||||
1,284 | ||||||||
|
| |||||||
Argentina — 0.9% |
| |||||||
City of Buenos Aires Argentina |
| |||||||
9.950%, 03/01/2017 (A)(B) | 1,200 | 1,014 | ||||||
Deutsche Bank, CLN (Cablevision) MTN | ||||||||
9.375%, 02/13/2018 (B) | 1,204 | 870 | ||||||
Province of Buenos Aires | ||||||||
9.375%, 09/14/2018 (A) | 470 | 320 | ||||||
Province of Medoza | ||||||||
5.500%, 09/04/2018 (A) | 247 | 178 | ||||||
Republic of Argentina | ||||||||
8.750%, 06/02/2017 | 587 | 431 | ||||||
8.280%, 12/31/2033 | 2,443 | 1,319 | ||||||
8.280%, 12/31/2033 | 1,016 | 528 | ||||||
7.820%, 12/31/2033 | EUR | 1,685 | 1,112 | |||||
7.820%, 12/31/2033 | EUR | 275 | 181 | |||||
7.820%, 12/31/2033 | EUR | 3,215 | 2,102 | |||||
7.000%, 10/03/2015 | 1,536 | 1,277 | ||||||
7.000%, 09/12/2013 | 54 | 53 | ||||||
7.000%, 10/03/2015 | 406 | 338 | ||||||
7.000%, 09/12/2013 | 447 | 441 | ||||||
2.500%, 03/31/2019 (C) | 417 | 130 | ||||||
1.180%, 12/31/2038 (C)(D) | ARS | 2 | — | |||||
0.000%, 12/15/2035 (D) | ARS | 2 | — | |||||
Transportadora Gas del Norte | ||||||||
3.500%, 08/22/2014 (A)(B)(C) | 173 | — | ||||||
3.500%, 08/22/2014 (A)(B)(C) | 318 | — | ||||||
0.000%, 08/22/2019 (A)(B)(E) | 125 | 72 | ||||||
0.000%, 08/22/2019 (A)(B)(E) | 38 | 22 | ||||||
WPE International Cooperatief | ||||||||
10.375%, 09/30/2020 | 300 | 279 | ||||||
10.375%, 09/30/2020 (B) | 950 | 884 | ||||||
|
| |||||||
11,551 | ||||||||
|
| |||||||
Azerbaijan — 0.1% |
| |||||||
State Oil of the Azerbaijan Republic | ||||||||
5.450%, 02/09/2017 | 657 | 700 | ||||||
|
| |||||||
Barbados — 0.1% |
| |||||||
Columbus International | ||||||||
11.500%, 11/20/2014 (B) | 600 | 669 | ||||||
|
| |||||||
Belarus — 0.2% |
| |||||||
Republic of Belarus | ||||||||
8.950%, 01/26/2018 | 1,490 | 1,591 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
8.750%, 08/03/2015 | 1,130 | $ | 1,175 | |||||
|
| |||||||
2,766 | ||||||||
|
| |||||||
Bermuda — 0.1% |
| |||||||
Government of Bermuda | ||||||||
4.138%, 01/03/2023 (B) | 820 | 861 | ||||||
|
| |||||||
Bolivia — 0.0% |
| |||||||
Government of Bolivia | ||||||||
4.875%, 10/29/2022 (B) | 250 | 249 | ||||||
|
| |||||||
Bosnia and Herzegovina — 0.1% |
| |||||||
Republic of Bosnia & Herzegovina | ||||||||
1.063%, 12/11/2017 (A)(D) | DEM | 1,350 | 725 | |||||
|
| |||||||
Brazil — 8.3% |
| |||||||
Banco do Brasil | ||||||||
6.250%, 12/31/2049 (B)(D) | 322 | 317 | ||||||
3.875%, 10/10/2022 | 209 | 202 | ||||||
Banco Nacional de Desenvolvimento Economico e Social | ||||||||
6.500%, 06/10/2019 (B) | 660 | 774 | ||||||
5.500%, 07/12/2020 (B) | 400 | 451 | ||||||
Barclays, CLN (Federal Republic of Brazil) | ||||||||
10.000%, 01/01/2023 | BRL | 12,710 | 6,264 | |||||
6.000%, 05/15/2015 | BRL | 2,710 | 3,267 | |||||
6.000%, 05/15/2015 | BRL | 660 | 796 | |||||
6.000%, 08/15/2016 | BRL | 500 | 610 | |||||
6.000%, 08/15/2020 | BRL | 840 | 1,082 | |||||
BM&FBovespa | ||||||||
5.500%, 07/16/2020 | 300 | 332 | ||||||
BR Malls International Finance | ||||||||
8.500%, 12/31/2049 (B) | 145 | 159 | ||||||
BR Properties | ||||||||
9.000%, 12/31/2049 (B) | 241 | 265 | ||||||
Braskem Finance | ||||||||
7.375%, 10/04/2049 | 200 | 207 | ||||||
Brazil Letras do Tesouro Nacional | ||||||||
8.572%, 01/01/2015 (E) | BRL | 12,170 | 5,206 | |||||
Brazil Notas do Tesouro Nacional, Ser B | ||||||||
13.199%, 05/15/2015 | BRL | 5,706 | 6,879 | |||||
10.674%, 08/15/2020 | BRL | 8,330 | 10,726 | |||||
Brazil Notas do Tesouro Nacional, Serie B | ||||||||
6.000%, 08/15/2016 | BRL | 332 | 405 | |||||
6.000%, 08/15/2050 | BRL | 1,520 | 2,187 | |||||
Brazil Notas do Tesouro Nacional, Serie F | ||||||||
10.000%, 01/01/2021 | BRL | 1,932 | 957 | |||||
10.000%, 01/01/2023 | BRL | 90 | 44 | |||||
Caixa Economica Federal | ||||||||
2.375%, 11/06/2017 (B) | 1,000 | 971 | ||||||
Cia Energetica de Sao Paulo MTN | ||||||||
9.750%, 01/15/2015 | 630 | 486 |
1 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Citigroup Funding, CLN (Federal Republic of Brazil) MTN | ||||||||
6.000%, 08/16/2018 | 5,154 | $ | 5,319 | |||||
Cosan | ||||||||
5.000%, 03/14/2023 | USD | 200 | 201 | |||||
Deutsche Bank, CLN (Nota Do Tesouro Nacional) MTN | ||||||||
10.000%, 01/06/2021 | 2,500 | 2,581 | ||||||
Federal Republic of Brazil | ||||||||
10.250%, 01/10/2028 | BRL | 2,000 | 1,187 | |||||
10.125%, 05/15/2027 | 2,117 | 3,644 | ||||||
8.875%, 04/15/2024 | 440 | 674 | ||||||
8.500%, 01/05/2024 | BRL | 7,600 | 4,016 | |||||
8.250%, 01/20/2034 | 1,186 | 1,803 | ||||||
7.125%, 01/20/2037 | 2,404 | 3,336 | ||||||
4.875%, 01/22/2021 | 560 | 650 | ||||||
2.625%, 01/05/2023 | 400 | 384 | ||||||
Fibria Overseas Finance | ||||||||
6.750%, 03/03/2021 | 500 | 552 | ||||||
General Shopping Finance | ||||||||
10.000%, 12/31/2049 (B) | 234 | 237 | ||||||
Globo Comunicacao e Participacoes | ||||||||
6.250%, 07/20/2015 (C) | 147 | 156 | ||||||
HSBC, CLN (Federal Republic of Brazil) | ||||||||
10.000%, 01/01/2017 | BRL | 7,800 | 3,910 | |||||
10.000%, 01/01/2017 | BRL | 2,160 | 1,083 | |||||
10.000%, 01/01/2021 | BRL | 6,770 | 3,355 | |||||
10.000%, 01/01/2021 | BRL | 1,700 | 842 | |||||
6.000%, 05/15/2015 | BRL | 1,880 | 2,266 | |||||
6.000%, 08/15/2022 | BRL | 700 | 919 | |||||
Hypermarcas | ||||||||
6.500%, 04/20/2021 (B) | 224 | 242 | ||||||
Itau Unibanco Holding | ||||||||
5.650%, 03/19/2022 (B) | 200 | 210 | ||||||
5.125%, 05/13/2023 (B) | 338 | 344 | ||||||
JBS Finance II | ||||||||
8.250%, 01/29/2018 | 300 | 328 | ||||||
8.250%, 01/29/2018 (B) | 900 | 985 | ||||||
JPMorgan, CLN (Federal Republic of Brazil) | ||||||||
10.000%, 01/01/2017 | BRL | 18,700 | 9,374 | |||||
10.000%, 01/01/2017 | BRL | 2,400 | 1,203 | |||||
10.000%, 01/01/2023 | BRL | 1,800 | 887 | |||||
6.000%, 05/15/2015 | BRL | 2,350 | 2,833 | |||||
Marfrig Holding Europe | ||||||||
8.375%, 05/09/2018 | 1,500 | 1,354 | ||||||
Minerva Luxembourg | ||||||||
12.250%, 02/10/2022 (B) | 1,000 | 1,245 | ||||||
7.750%, 01/31/2023 | 200 | 215 | ||||||
7.750%, 01/31/2023 (B) | 261 | 280 | ||||||
Odebrecht Drilling Norbe VIII/IX | ||||||||
6.350%, 06/30/2021 (B) | 22 | 24 | ||||||
6.350%, 06/30/2021 | 116 | 128 | ||||||
OGX Austria GmbH | ||||||||
8.500%, 06/01/2018 | 200 | 156 | ||||||
8.375%, 04/01/2022 | 200 | 151 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
8.375%, 04/01/2022 (B) | 400 | $ | 302 | |||||
OGX Petroleo e Gas Participacoes | ||||||||
8.500%, 06/01/2018 (B) | 708 | 552 | ||||||
OSX 3 Leasing | ||||||||
9.250%, 03/20/2015 | 400 | 397 | ||||||
Petrobras International Finance | ||||||||
5.375%, 01/27/2021 | USD | 20 | 22 | |||||
QGOG Atlantic/Alaskan Rigs | ||||||||
5.250%, 07/30/2018 (B) | 268 | 277 | ||||||
Samarco Mineracao | ||||||||
4.125%, 11/01/2022 (B) | 234 | 228 | ||||||
Schahin II Finance | ||||||||
5.875%, 09/25/2022 (B) | 579 | 599 | ||||||
Telemar Norte Leste | ||||||||
5.500%, 10/23/2020 (B) | 200 | 209 | ||||||
Vale | ||||||||
5.625%, 09/11/2042 | 340 | 336 | ||||||
Vale Overseas | ||||||||
8.250%, 01/17/2034 | 230 | 295 | ||||||
6.875%, 11/21/2036 | 250 | 284 | ||||||
Voto-Votorantim Overseas Trading Operations | ||||||||
6.625%, 09/25/2019 (B) | 490 | 564 | ||||||
|
| |||||||
103,726 | ||||||||
|
| |||||||
Canada — 0.0% |
| |||||||
First Quantum Minerals | ||||||||
7.250%, 10/15/2019 (A)(B) | 250 | 250 | ||||||
PTTEP Canada International Finance MTN | ||||||||
5.692%, 04/05/2021 | 200 | 230 | ||||||
|
| |||||||
480 | ||||||||
|
| |||||||
Chile — 1.0% |
| |||||||
Automotores Gildemeister | ||||||||
6.750%, 01/15/2023 | 500 | 525 | ||||||
Banco del Estado de Chile | ||||||||
4.125%, 10/07/2020 | 130 | 140 | ||||||
3.875%, 02/08/2022 (B) | 230 | 242 | ||||||
BancoEstado | ||||||||
4.125%, 10/07/2020 (B) | 270 | 290 | ||||||
Cencosud | ||||||||
4.875%, 01/20/2023 (B) | 205 | 208 | ||||||
Empresa Nacional del Petroleo | ||||||||
6.250%, 07/08/2019 | 50 | 56 | ||||||
6.250%, 07/08/2019 (B) | 100 | 112 | ||||||
5.250%, 08/10/2020 (B) | 240 | 254 | ||||||
5.250%, 08/10/2020 | 100 | 106 | ||||||
Inversiones Alsacia | ||||||||
8.000%, 08/18/2018 (B) | 872 | 829 | ||||||
Nacional del Cobre de Chile | ||||||||
7.500%, 01/15/2019 | 170 | 214 | ||||||
6.150%, 10/24/2036 | 1,281 | 1,529 | ||||||
5.625%, 09/21/2035 | 880 | 983 | ||||||
4.250%, 07/17/2042 (B) | 654 | 601 | ||||||
3.875%, 11/03/2021 (B) | 813 | 853 | ||||||
3.750%, 11/04/2020 | 210 | 220 | ||||||
3.750%, 11/04/2020 (B) | 290 | 304 | ||||||
3.000%, 07/17/2022 (B) | 921 | 900 | ||||||
Republic of Chile | ||||||||
5.500%, 08/05/2020 | CLP | 500,000 | 1,141 |
2 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
5.500%, 08/05/2020 | CLP | 140,000 | $ | 319 | ||||
3.250%, 09/14/2021 | 656 | 688 | ||||||
2.250%, 10/30/2022 | 678 | 654 | ||||||
SMU | ||||||||
7.750%, 02/08/2020 (B) | 200 | 214 | ||||||
Telefonica Chile | ||||||||
3.875%, 10/12/2022 (B) | 401 | 394 | ||||||
Telefonica Moviles Chile | ||||||||
2.875%, 11/09/2015 | 300 | 305 | ||||||
|
| |||||||
12,081 | ||||||||
|
| |||||||
China — 1.4% | ||||||||
Agile Property Holdings | ||||||||
8.875%, 04/28/2017 | 400 | 426 | ||||||
Amber Circle Funding | ||||||||
3.250%, 12/04/2022 | 1,200 | 1,198 | ||||||
Central China Real Estate | ||||||||
12.250%, 10/20/2015 | 400 | 439 | ||||||
China Oriental Group | ||||||||
8.000%, 08/18/2015 | 300 | 305 | ||||||
8.000%, 08/18/2015 (B) | 950 | 967 | ||||||
China Overseas Finance Cayman II | ||||||||
5.500%, 11/10/2020 | 100 | 112 | ||||||
China Shanshui Cement Group | ||||||||
10.500%, 04/27/2017 | 200 | 223 | ||||||
10.500%, 04/27/2017 (B) | 650 | 725 | ||||||
CNPC HK Overseas Capital | ||||||||
5.950%, 04/28/2041 | 400 | 485 | ||||||
Country Garden Holdings | ||||||||
11.250%, 04/22/2017 | 300 | 334 | ||||||
7.500%, 01/10/2023 (B) | 202 | 206 | ||||||
7.500%, 01/10/2023 | 400 | 409 | ||||||
Evergrande Real Estate Group | ||||||||
13.000%, 01/27/2015 | 50 | 54 | ||||||
13.000%, 01/27/2015 | 200 | 218 | ||||||
13.000%, 01/27/2015 (B) | 600 | 652 | ||||||
9.250%, 01/19/2016 | CNY | 5,000 | 818 | |||||
7.500%, 01/19/2014 | CNY | 3,000 | 489 | |||||
Franshion Development | ||||||||
6.750%, 04/15/2021 (B) | 320 | 345 | ||||||
Gemdale International Investment | ||||||||
7.125%, 11/16/2017 | 300 | 311 | ||||||
Hidili Industry International Development | ||||||||
8.625%, 11/04/2015 | 800 | 586 | ||||||
Longfor Properties | ||||||||
9.500%, 04/07/2016 | 300 | 328 | ||||||
Mega Advance Investments | ||||||||
5.000%, 05/12/2021 (B) | 406 | 461 | ||||||
Sinochem Offshore Capital | ||||||||
1.800%, 01/18/2014 | CNY | 2,000 | 319 | |||||
Sinochem Overseas Capital | ||||||||
6.300%, 11/12/2040 | 250 | 287 | ||||||
4.500%, 11/12/2020 | 1,246 | 1,346 | ||||||
4.500%, 11/12/2020 (B) | 3,472 | 3,750 | ||||||
Sinopec Group Overseas Development 2012 | ||||||||
4.875%, 05/17/2042 (B) | 300 | 322 | ||||||
3.900%, 05/17/2022 (B) | 300 | 319 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Sunac China Holdings | ||||||||
12.500%, 10/16/2017 | 300 | $ | 337 | |||||
Tencent Holdings | ||||||||
4.625%, 12/12/2016 | 250 | 273 | ||||||
3.375%, 03/05/2018 (B) | 217 | 226 | ||||||
|
| |||||||
17,270 | ||||||||
|
| |||||||
Colombia — 3.9% | ||||||||
Bancolombia | ||||||||
5.125%, 09/11/2022 | 175 | 176 | ||||||
Bogota Distrito Capital | ||||||||
9.750%, 07/26/2028 | COP | 530,000 | 420 | |||||
9.750%, 07/26/2028 (B) | COP | 8,820,000 | 6,991 | |||||
Citigroup Funding, CLN (Republic of Columbia) MTN | ||||||||
11.000%, 07/27/2020 | COP | 8,830,000 | 6,626 | |||||
Colombian TES | ||||||||
10.000%, 07/24/2024 | COP | 2,750,000 | 2,125 | |||||
7.500%, 08/26/2026 | COP | 2,356,000 | 1,567 | |||||
Ecopetrol | ||||||||
7.625%, 07/23/2019 (B) | 220 | 276 | ||||||
Emgesa ESP | ||||||||
8.750%, 01/25/2021 | COP | 870,000 | 566 | |||||
Empresa de Energia de Bogota | ||||||||
6.125%, 11/10/2021 | 300 | 334 | ||||||
Empresas Publicas de Medellin ESP | ||||||||
8.375%, 02/01/2021 | COP | 310,000 | 198 | |||||
Grupo Aval | ||||||||
5.250%, 02/01/2017 (B) | 200 | 214 | ||||||
4.750%, 09/26/2022 (B) | 222 | 223 | ||||||
Gruposura Finance | ||||||||
5.700%, 05/18/2021 (B) | 410 | 454 | ||||||
Pacific Rubiales Energy | ||||||||
5.125%, 03/28/2023 (B) | 206 | 208 | ||||||
Republic of Colombia | ||||||||
12.000%, 10/22/2015 | COP | 653,000 | 430 | |||||
11.750%, 02/25/2020 | 1,685 | 2,633 | ||||||
10.375%, 01/28/2033 | 140 | 241 | ||||||
9.850%, 06/28/2027 | COP | 3,810,000 | 3,212 | |||||
9.850%, 06/28/2027 | COP | 2,670,000 | 2,251 | |||||
8.125%, 05/21/2024 | 1,348 | 1,940 | ||||||
7.750%, 04/14/2021 | COP | 6,001,000 | 4,168 | |||||
7.375%, 03/18/2019 | 1,760 | 2,266 | ||||||
7.375%, 09/18/2037 | 4,477 | 6,402 | ||||||
6.125%, 01/18/2041 | 1,705 | 2,145 | ||||||
4.375%, 07/12/2021 | 450 | 503 | ||||||
4.375%, 03/21/2023 | COP | 1,371,000 | 775 | |||||
2.625%, 03/15/2023 | 454 | 436 | ||||||
Titulos de Tesoreria | ||||||||
7.000%, 02/25/2015 | COP | 570,000 | 708 | |||||
Transportadora de Gas Internacional ESP | ||||||||
5.700%, 03/20/2022 (B) | 350 | 381 | ||||||
|
| |||||||
48,869 | ||||||||
|
| |||||||
Costa Rica — 0.0% | ||||||||
Costa Rica Government International Bond | ||||||||
4.250%, 01/26/2023 (A) | 610 | 609 | ||||||
|
|
3 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013
|
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Croatia — 0.8% | ||||||||
Government of Croatia | ||||||||
6.750%, 11/05/2019 | 2,673 | $ | 2,927 | |||||
6.625%, 07/14/2020 (B) | 170 | 185 | ||||||
6.625%, 07/14/2020 | 950 | 1,033 | ||||||
6.375%, 03/24/2021 (B) | 775 | 834 | ||||||
6.375%, 03/24/2021 | 810 | 871 | ||||||
6.250%, 04/27/2017 (B) | 1,412 | 1,512 | ||||||
5.875%, 07/09/2018 | EUR | 150 | 207 | |||||
5.500%, 04/04/2023 (B)(F) | 869 | 861 | ||||||
Zagrebacki Holding | ||||||||
5.500%, 07/10/2017 | EUR | 1,100 | 1,142 | |||||
|
| |||||||
9,572 | ||||||||
|
| |||||||
Czech Republic — 0.1% | ||||||||
Central European Media Enterprises | ||||||||
11.625%, 09/15/2016 (B) | EUR | 700 | 929 | |||||
11.625%, 09/15/2016 | 300 | 398 | ||||||
|
| |||||||
1,327 | ||||||||
|
| |||||||
Dominican Republic — 0.3% | ||||||||
Cap Cana | ||||||||
10.000%, 04/30/2016 (A)(G) | 844 | 127 | ||||||
10.000%, 04/30/2016 (A)(G) | 982 | 147 | ||||||
Dominican Republic | ||||||||
9.040%, 01/23/2018 | 1,498 | 1,669 | ||||||
7.500%, 05/06/2021 (B) | 1,830 | 2,046 | ||||||
|
| |||||||
3,989 | ||||||||
|
| |||||||
Ecuador — 0.0% | ||||||||
Republic of Ecuador | ||||||||
9.375%, 12/15/2015 | 460 | 480 | ||||||
|
| |||||||
Egypt — 0.1% | ||||||||
Government of Egypt | ||||||||
6.875%, 04/30/2040 | 240 | 186 | ||||||
5.750%, 04/29/2020 (B) | 100 | 84 | ||||||
5.750%, 04/29/2020 | 350 | 296 | ||||||
Nile Finance | ||||||||
5.250%, 08/05/2015 | 280 | 256 | ||||||
|
| |||||||
822 | ||||||||
|
| |||||||
El Salvador — 0.4% | ||||||||
Republic of El Salvador | ||||||||
8.250%, 04/10/2032 | 140 | 175 | ||||||
7.750%, 01/24/2023 | 332 | 402 | ||||||
7.650%, 06/15/2035 | 1,327 | 1,521 | ||||||
7.625%, 02/01/2041 (B) | 150 | 172 | ||||||
7.375%, 12/01/2019 | 570 | 676 | ||||||
5.875%, 01/30/2025 | 656 | 688 | ||||||
5.875%, 01/30/2025 (A)(B) | 820 | 869 | ||||||
Telemovil Finance | ||||||||
8.000%, 10/01/2017 | 600 | 651 | ||||||
|
| |||||||
5,154 | ||||||||
|
| |||||||
Gabon — 0.0% | ||||||||
Gabonese Republic | ||||||||
8.200%, 12/12/2017 | 226 | 273 | ||||||
|
|
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Georgia — 0.1% | ||||||||
JSC Georgian Railway | ||||||||
7.750%, 07/11/2022 (B) | 390 | $ | 446 | |||||
Republic of Georgia | ||||||||
6.875%, 04/12/2021 (B) | 340 | 389 | ||||||
|
| |||||||
835 | ||||||||
|
| |||||||
Ghana — 0.1% | ||||||||
Republic of Ghana | ||||||||
8.500%, 10/04/2017 (B) | 300 | 343 | ||||||
8.500%, 10/04/2017 | 440 | 502 | ||||||
|
| |||||||
845 | ||||||||
|
| |||||||
Guatemala — 0.2% | ||||||||
Guatemala Government Bond | ||||||||
5.750%, 06/06/2022 | 1,236 | 1,362 | ||||||
4.875%, 02/13/2028 (B) | 1,020 | 997 | ||||||
|
| |||||||
2,359 | ||||||||
|
| |||||||
Hong Kong — 0.3% | ||||||||
CFG Investment | ||||||||
9.750%, 07/30/2019 | 450 | 422 | ||||||
9.750%, 07/30/2019 | 450 | 423 | ||||||
Fosun International | ||||||||
7.500%, 05/12/2016 | 400 | 421 | ||||||
Hengdeli Holdings | ||||||||
6.250%, 01/29/2018 | 600 | 614 | ||||||
Hutchison Whampoa International | ||||||||
6.000%, 12/31/2049 (D) | 260 | 278 | ||||||
Industrial & Commercial Bank of China Asia MTN | ||||||||
5.125%, 11/30/2020 | 560 | 620 | ||||||
PCCW-HKT Capital No. 4 | ||||||||
4.250%, 02/24/2016 | 301 | 318 | ||||||
Shimao Property Holdings | ||||||||
11.000%, 03/08/2018 | 300 | 342 | ||||||
Yancoal International Resources Development | ||||||||
5.730%, 05/16/2022 (B) | 281 | 287 | ||||||
|
| |||||||
3,725 | ||||||||
|
| |||||||
Hungary — 2.7% | ||||||||
Hungary Treasury Bills | ||||||||
5.504%, 04/17/2013 (E) | 450,000 | 1,892 | ||||||
Magyar Export-Import Bank RT | ||||||||
5.500%, 02/12/2018 (B) | 200 | 197 | ||||||
Republic of Hungary | ||||||||
8.000%, 02/12/2015 | HUF | 1,052,950 | 4,690 | |||||
7.750%, 08/24/2015 | HUF | 1,630,040 | 7,299 | |||||
7.625%, 03/29/2041 | 870 | 887 | ||||||
7.000%, 06/24/2022 | HUF | 609,000 | 2,677 | |||||
6.750%, 02/24/2017 | HUF | 164,010 | 724 | |||||
6.750%, 11/24/2017 | HUF | 939,900 | 4,165 | |||||
6.500%, 06/24/2019 | HUF | 219,150 | 955 | |||||
6.375%, 03/29/2021 | 1,734 | 1,786 | ||||||
6.250%, 01/29/2020 | 781 | 798 | ||||||
6.000%, 01/11/2019 | EUR | 982 | 1,270 | |||||
6.000%, 11/24/2023 | HUF | 133,510 | 546 | |||||
5.750%, 06/11/2018 | EUR | 1,319 | 1,697 | |||||
5.500%, 05/06/2014 | GBP | 66 | 102 | |||||
5.375%, 02/21/2023 | 1,000 | 941 | ||||||
5.000%, 03/30/2016 | GBP | 227 | 339 | |||||
4.125%, 02/19/2018 | 486 | 464 | ||||||
3.500%, 07/18/2016 | EUR | 1,637 | 2,024 | |||||
|
| |||||||
33,453 | ||||||||
|
|
4 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
India — 0.2% | ||||||||
Bharti Airtel International Netherlands | ||||||||
5.125%, 03/11/2023 (B) | 549 | $ | 551 | |||||
Export-Import Bank of India MTN | ||||||||
4.000%, 08/07/2017 | 200 | 211 | ||||||
ICICI Bank | ||||||||
5.750%, 11/16/2020 (B) | 128 | 141 | ||||||
Reliance Holdings USA | ||||||||
6.250%, 10/19/2040 (A) | 550 | 607 | ||||||
5.400%, 02/14/2022 (B) | 250 | 279 | ||||||
Vedanta Resources | ||||||||
8.250%, 06/07/2021 | 800 | 912 | ||||||
|
| |||||||
2,701 | ||||||||
|
| |||||||
Indonesia — 4.6% | ||||||||
Adaro Indonesia | ||||||||
7.625%, 10/22/2019 (B) | 455 | 493 | ||||||
Deutsche Bank, CLN (Republic of Indonesia) | ||||||||
7.000%, 05/15/2022 | IDR | 4,600,000 | 522 | |||||
Indo Energy Finance II | ||||||||
6.375%, 01/24/2023 (B) | 200 | 205 | ||||||
6.375%, 01/24/2023 | 200 | 205 | ||||||
Indosat Palapa | ||||||||
7.375%, 07/29/2020 (B) | 352 | 390 | ||||||
JPMorgan, CLN (Republic of Indonesia) | ||||||||
7.000%, 05/15/2022 | IDR | 107,500,000 | 12,198 | |||||
5.625%, 05/15/2023 | IDR | 12,900,000 | 1,320 | |||||
5.250%, 05/15/2018 | IDR | 20,000,000 | 2,082 | |||||
Majapahit Holding | ||||||||
8.000%, 08/07/2019 | 470 | 579 | ||||||
7.875%, 06/29/2037 (B) | 205 | 265 | ||||||
7.750%, 10/17/2016 | 370 | 429 | ||||||
7.750%, 01/20/2020 | 30 | 37 | ||||||
7.750%, 01/20/2020 (B) | 250 | 306 | ||||||
Pertamina Persero | ||||||||
6.500%, 05/27/2041 (B) | 380 | 411 | ||||||
6.000%, 05/03/2042 (B) | 935 | 954 | ||||||
5.250%, 05/23/2021 (B) | 500 | 535 | ||||||
4.875%, 05/03/2022 (B) | 220 | 229 | ||||||
Perusahaan Listrik Negara | ||||||||
5.500%, 11/22/2021 (B) | 310 | 336 | ||||||
5.250%, 10/24/2042 | 200 | 189 | ||||||
Republic of Indonesia | ||||||||
11.625%, 03/04/2019 | 1,786 | 2,590 | ||||||
11.625%, 03/04/2019 | 628 | 911 | ||||||
11.625%, 03/04/2019 (B) | 1,195 | 1,733 | ||||||
11.000%, 10/15/2014 | IDR | 5,200,000 | 587 | |||||
10.375%, 05/04/2014 | 190 | 208 | ||||||
8.500%, 10/12/2035 | 101 | 149 | ||||||
8.500%, 10/12/2035 | 2,449 | 3,612 | ||||||
8.250%, 06/15/2032 | IDR | 46,001,000 | 5,604 | |||||
7.750%, 01/17/2038 | 100 | 139 | ||||||
7.750%, 01/17/2038 | 5,551 | 7,733 | ||||||
7.500%, 01/15/2016 | 400 | 458 | ||||||
7.000%, 05/15/2022 | IDR | 33,520,000 | 3,803 | |||||
6.875%, 01/17/2018 | 910 | 1,074 | ||||||
6.625%, 05/15/2033 | IDR | 14,378,000 | 1,495 | |||||
6.625%, 02/17/2037 | 70 | 86 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
6.625%, 02/17/2037 | 110 | $ | 136 | |||||
6.250%, 04/15/2017 | IDR | 16,000,000 | 1,726 | |||||
6.125%, 05/15/2028 | IDR | 900,000 | 91 | |||||
5.875%, 03/13/2020 (B) | 864 | 998 | ||||||
5.875%, 03/13/2020 | 120 | 139 | ||||||
5.625%, 05/15/2023 | IDR | 9,940,000 | 1,017 | |||||
5.250%, 01/17/2042 (H) | 337 | 359 | ||||||
4.875%, 05/05/2021 (B) | 850 | 931 | ||||||
Star Energy Geothermal Wayang Windu | ||||||||
11.500%, 02/12/2015 (B) | 386 | 407 | ||||||
|
| |||||||
57,671 | ||||||||
|
| |||||||
Iraq — 0.3% | ||||||||
Republic of Iraq | ||||||||
5.800%, 01/15/2028 | 4,626 | 4,233 | ||||||
|
| |||||||
Israel — 0.1% | ||||||||
Altice Financing | ||||||||
7.875%, 12/15/2019 (A) | 700 | 763 | ||||||
Altice Finco | ||||||||
9.875%, 12/15/2020 (A) | 600 | 672 | ||||||
|
| |||||||
1,435 | ||||||||
|
| |||||||
Ivory Coast — 0.3% | ||||||||
Ivory Coast | ||||||||
7.100%, 12/31/2032 | 3,413 | 3,157 | ||||||
|
| |||||||
Jamaica — 0.2% | ||||||||
Digicel Group | ||||||||
10.500%, 04/15/2018 | 160 | 178 | ||||||
8.250%, 09/30/2020 | 1,900 | 2,014 | ||||||
8.250%, 09/30/2020 (B) | 200 | 212 | ||||||
|
| |||||||
2,404 | ||||||||
|
| |||||||
Kazakhstan — 1.4% | ||||||||
ATF Bank JSC | ||||||||
9.000%, 05/11/2016 | 300 | 286 | ||||||
BTA Bank JSC | ||||||||
5.500%, 12/21/2022 | 100 | 77 | ||||||
Development Bank of Kazakhstan JSC | ||||||||
4.125%, 12/10/2022 (B) | 300 | 290 | ||||||
4.125%, 12/10/2022 | 470 | 455 | ||||||
Halyk Savings Bank of Kazakhstan | ||||||||
7.250%, 01/28/2021 (B) | 700 | 742 | ||||||
Kazakhstan Temir Zholy Finance | ||||||||
6.950%, 07/10/2042 | 200 | 234 | ||||||
6.950%, 07/10/2042 (B) | 250 | 293 | ||||||
Kazatomprom Natsionalnaya Atomnaya Kompaniya | ||||||||
6.250%, 05/20/2015 | 100 | 107 | ||||||
6.250%, 05/20/2015 (B) | 450 | 480 | ||||||
Kazkommerts International | ||||||||
7.875%, 04/07/2014 | 300 | 304 | ||||||
Kazkommertsbank Via Citigroup Global Markets | ||||||||
8.700%, 04/07/2014 (C)(D) | 1,100 | 1,078 | ||||||
KazMunayGas National MTN | ||||||||
11.750%, 01/23/2015 (B) | 410 | 475 |
5 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
11.750%, 01/23/2015 | 1,168 | $ | 1,353 | |||||
9.125%, 07/02/2018 (B) | 1,435 | 1,808 | ||||||
9.125%, 07/02/2018 | 439 | 553 | ||||||
8.375%, 07/02/2013 | 190 | 193 | ||||||
7.000%, 05/05/2020 | 100 | 119 | ||||||
7.000%, 05/05/2020 (B) | 1,895 | 2,255 | ||||||
6.375%, 04/09/2021 | 912 | 1,061 | ||||||
6.375%, 04/09/2021 (B) | 2,569 | 2,990 | ||||||
Republic of Kazakhstan | ||||||||
6.375%, 10/06/2020 (B) | 600 | 701 | ||||||
Tengizchevroil Finance | ||||||||
6.124%, 11/15/2014 (A) | 143 | 147 | ||||||
Zhaikmunai Via Zhaikmunai International | ||||||||
7.125%, 11/13/2019 | 600 | 640 | ||||||
7.125%, 11/13/2019 (A)(B) | 925 | 987 | ||||||
|
| |||||||
17,628 | ||||||||
|
| |||||||
Kuwait — 0.1% | ||||||||
Kuwait Projects MTN | ||||||||
9.375%, 07/15/2020 | 900 | 1,152 | ||||||
|
| |||||||
Latvia — 0.1% | ||||||||
Republic of Latvia | ||||||||
2.750%, 01/12/2020 (A) | 800 | 769 | ||||||
|
| |||||||
Lithuania — 1.1% | ||||||||
Republic of Lithuania | ||||||||
7.375%, 02/11/2020 (B) | 800 | 1,006 | ||||||
7.375%, 02/11/2020 | 290 | 365 | ||||||
6.625%, 02/01/2022 | 1,000 | 1,225 | ||||||
6.625%, 02/01/2022 (B) | 1,000 | 1,225 | ||||||
6.125%, 03/09/2021 | 5,297 | 6,277 | ||||||
6.125%, 03/09/2021 (B) | 1,424 | 1,687 | ||||||
5.125%, 09/14/2017 | 100 | 111 | ||||||
5.125%, 09/14/2017 (B) | 310 | 343 | ||||||
4.850%, 02/07/2018 | EUR | 650 | 919 | |||||
|
| |||||||
13,158 | ||||||||
|
| |||||||
Malaysia — 5.0% | ||||||||
Axiata SPV1 Labuan | ||||||||
5.375%, 04/28/2020 | 250 | 283 | ||||||
Malaysia Government Bond | ||||||||
4.392%, 04/15/2026 | MYR | 8,100 | 2,825 | |||||
4.262%, 09/15/2016 | MYR | 27,630 | 9,271 | |||||
4.160%, 07/15/2021 | MYR | 13,410 | 4,529 | |||||
4.012%, 09/15/2017 | MYR | 28,210 | 9,431 | |||||
3.892%, 03/15/2027 | MYR | 5,628 | 1,864 | |||||
3.580%, 09/28/2018 | MYR | 6,750 | 2,214 | |||||
3.492%, 03/31/2020 | MYR | 5,753 | 1,867 | |||||
3.418%, 08/15/2022 | MYR | 8,159 | 2,626 | |||||
3.314%, 10/31/2017 | MYR | 4,270 | 1,387 | |||||
3.260%, 03/01/2018 | MYR | 19,200 | 6,214 | |||||
3.197%, 10/15/2015 | MYR | 32,680 | 10,596 | |||||
3.172%, 07/15/2016 | MYR | 5,740 | 1,861 | |||||
Petroliam Nasional | ||||||||
7.625%, 10/15/2026 | 106 | 151 | ||||||
Petronas Capital | ||||||||
7.875%, 05/22/2022 | 2,452 | 3,411 | ||||||
5.250%, 08/12/2019 (B) | 100 | 116 | ||||||
5.250%, 08/12/2019 | 2,790 | 3,245 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Wakala Global Sukuk | ||||||||
4.646%, 07/06/2021 (B) | 390 | $ | 438 | |||||
|
| |||||||
62,329 | ||||||||
|
| |||||||
Mexico — 9.3% | ||||||||
America Movil | ||||||||
3.125%, 07/16/2022 | 200 | 196 | ||||||
Bank of New York Mellon Institucion de Banca Multiple | ||||||||
9.625%, 05/02/2021 (B) | 309 | 252 | ||||||
BBVA Bancomer | ||||||||
6.750%, 09/30/2022 (B) | 500 | 571 | ||||||
6.008%, 05/17/2022 (A)(D) | 550 | 577 | ||||||
Cemex | ||||||||
9.250%, 05/12/2020 | 600 | 663 | ||||||
9.000%, 01/11/2018 (B) | 306 | 339 | ||||||
Cemex Espana | ||||||||
9.250%, 05/12/2020 (B) | 1,300 | 1,437 | ||||||
Cemex Finance | ||||||||
9.375%, 10/12/2022 (B) | 759 | 882 | ||||||
Comision Federal de Electricidad | ||||||||
5.750%, 02/14/2042 (B) | 500 | 545 | ||||||
4.875%, 05/26/2021 (B) | 400 | 445 | ||||||
Desarrolladora Homex | ||||||||
9.750%, 03/25/2020 | 200 | 173 | ||||||
9.750%, 03/25/2020 (B) | 700 | 599 | ||||||
GEO | ||||||||
9.250%, 06/30/2020 | 406 | 351 | ||||||
8.875%, 03/27/2022 (B) | 200 | 171 | ||||||
Grupo Bimbo | ||||||||
4.500%, 01/25/2022 (B) | 200 | 217 | ||||||
Grupo Senda | ||||||||
10.500%, 10/03/2015 | 2,965 | 3,054 | ||||||
Grupo Televisa | ||||||||
6.000%, 05/15/2018 | 145 | 170 | ||||||
Mexican Bonos MTN | ||||||||
8.000%, 06/11/2020 | MXN | 2,514 | 243 | |||||
7.750%, 11/13/2042 | MXN | 10,300 | 1,050 | |||||
7.500%, 06/03/2027 | MXN | 94,497 | 9,266 | |||||
7.000%, 06/19/2014 | MXN | 9,182 | 768 | |||||
6.500%, 06/09/2022 | MXN | 108,745 | 9,797 | |||||
6.250%, 06/16/2016 | MXN | 19,580 | 1,668 | |||||
6.000%, 06/18/2015 | MXN | 45,230 | 3,794 | |||||
5.000%, 06/15/2017 | MXN | 23,456 | 1,926 | |||||
4.750%, 03/08/2044 | 1,864 | 1,934 | ||||||
3.625%, 03/15/2022 | 340 | 361 | ||||||
Mexican Bonos, Ser M | ||||||||
6.500%, 06/10/2021 | MXN | 60,554 | 5,431 | |||||
Mexican Bonos, Ser M10 | ||||||||
8.500%, 12/13/2018 | MXN | 10,450 | 1,004 | |||||
8.000%, 12/17/2015 | MXN | 10,027 | 886 | |||||
7.750%, 12/14/2017 | MXN | 21,317 | 1,950 | |||||
7.250%, 12/15/2016 | MXN | 12,500 | 1,104 | |||||
Mexican Bonos, Ser M20 | ||||||||
8.500%, 05/31/2029 | MXN | 40,820 | 4,347 | |||||
8.000%, 12/07/2023 | MXN | 52,280 | 5,279 | |||||
7.750%, 05/29/2031 | MXN | 60,935 | 6,091 | |||||
Mexican Bonos, Ser M30 | ||||||||
10.000%, 11/20/2036 | MXN | 32,300 | 4,003 | |||||
8.500%, 11/18/2038 | MXN | 35,401 | 3,867 |
6 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Mexican Udibonos | ||||||||
5.000%, 06/16/2016 | MXN | 2,380 | $ | 1,073 | ||||
4.000%, 11/15/2040 | MXN | 2,940 | 1,603 | |||||
2.500%, 12/10/2020 | MXN | 21,110 | 9,298 | |||||
2.000%, 06/09/2022 | MXN | 1,918 | 811 | |||||
Mexichem | ||||||||
6.750%, 09/19/2042 (B) | 400 | 444 | ||||||
4.875%, 09/19/2022 (B) | 200 | 212 | ||||||
Mexico Cetes | ||||||||
4.460%, 06/27/2013 (E) | MXN | 179,756 | 1,440 | |||||
Mexico Generadora de Energia S de rl | ||||||||
5.500%, 12/06/2032 (B) | 200 | 212 | ||||||
NII Capital | ||||||||
10.000%, 08/15/2016 | 359 | 322 | ||||||
7.625%, 04/01/2021 | 1,416 | 1,020 | ||||||
Oceanografia | ||||||||
11.250%, 07/15/2015 | 1,079 | 850 | ||||||
Pemex Finance | ||||||||
9.150%, 11/15/2018 | 1,595 | 1,969 | ||||||
Pemex Project Funding Master Trust | ||||||||
6.625%, 06/15/2035 | 1,244 | 1,490 | ||||||
5.750%, 03/01/2018 | 1,285 | 1,476 | ||||||
Petroleos Mexicanos | ||||||||
8.000%, 05/03/2019 | 408 | 522 | ||||||
6.500%, 06/02/2041 | 677 | 797 | ||||||
6.000%, 03/05/2020 (B) | 60 | 71 | ||||||
6.000%, 03/05/2020 | 180 | 212 | ||||||
5.500%, 06/27/2044 | 70 | 72 | ||||||
5.500%, 06/27/2044 (B) | 150 | 155 | ||||||
3.500%, 01/30/2023 (B) | 185 | 185 | ||||||
United Mexican States MTN | ||||||||
8.300%, 08/15/2031 | 1,670 | 2,534 | ||||||
6.050%, 01/11/2040 | 1,502 | 1,866 | ||||||
5.950%, 03/19/2019 | 370 | 448 | ||||||
5.750%, 10/12/2110 | 7,572 | 8,306 | ||||||
5.625%, 01/15/2017 | 462 | 531 | ||||||
5.125%, 01/15/2020 | 550 | 644 | ||||||
United Mexican States, Ser A MTN | ||||||||
6.750%, 09/27/2034 | 746 | 992 | ||||||
Urbi Desarrollos Urbanos | ||||||||
9.750%, 02/03/2022 | 200 | 124 | ||||||
9.750%, 02/03/2022 (B) | 400 | 248 | ||||||
9.500%, 01/21/2020 | 200 | 122 | ||||||
|
| |||||||
115,460 | ||||||||
|
| |||||||
Mongolia — 0.1% | ||||||||
Mongolia Government International Bond | ||||||||
5.125%, 12/05/2022 | 360 | 336 | ||||||
Mongolian Mining MTN | ||||||||
8.875%, 03/29/2017 | 600 | 615 | ||||||
|
| |||||||
951 | ||||||||
|
| |||||||
Morocco — 0.2% | ||||||||
Kingdom of Morocco | ||||||||
5.500%, 12/11/2042 (A) | 400 | 397 | ||||||
5.500%, 12/11/2042 (B) | 400 | 397 | ||||||
4.250%, 12/11/2022 (A)(B) | 680 | 694 | ||||||
4.250%, 12/11/2022 | 500 | 510 | ||||||
|
| |||||||
1,998 | ||||||||
|
|
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Nigeria — 1.3% | ||||||||
Afren | ||||||||
11.500%, 02/01/2016 | 200 | $ | 237 | |||||
11.500%, 02/01/2016 (B) | 877 | 1,039 | ||||||
10.250%, 04/08/2019 (B) | 500 | 594 | ||||||
Nigeria Treasury Bill | ||||||||
12.030%, 12/19/2013 (E) | NGN | 75,000 | 439 | |||||
11.520%, 05/16/2013 (E) | NGN | 38,000 | 236 | |||||
11.320%, 01/23/2014 (E) | NGN | 137,000 | 790 | |||||
10.900%, 12/05/2013 (E) | NGN | 9,000 | 53 | |||||
10.600%, 02/20/2014 (E) | NGN | 13,000 | 75 | |||||
10.530%, 03/06/2014 (E) | NGN | 22,000 | 126 | |||||
10.490%, 01/09/2014 (E) | NGN | 126,000 | 733 | |||||
10.430%, 03/20/2014 (E) | NGN | 710,330 | 4,026 | |||||
10.330%, 10/10/2013 (E) | NGN | 18,000 | 107 | |||||
2.030%, 04/04/2013 (E) | NGN | 20,000 | 126 | |||||
0.000%, 06/27/2013 (E) | NGN | 20,000 | 123 | |||||
0.000%, 09/05/2013 (E) | NGN | 26,000 | 156 | |||||
0.000%, 09/26/2013 (E) | NGN | 42,000 | 251 | |||||
Republic of Nigeria | ||||||||
16.390%, 01/27/2022 | NGN | 299,070 | 2,453 | |||||
16.000%, 06/29/2019 | NGN | 169,000 | 1,302 | |||||
16.000%, 06/29/2019 | NGN | 172,000 | 1,326 | |||||
15.100%, 04/27/2017 | NGN | 72,570 | 520 | |||||
10.700%, 05/30/2018 | NGN | 7,000 | 44 | |||||
6.750%, 01/28/2021 (B) | 550 | 635 | ||||||
Sea Trucks Group | ||||||||
9.000%, 03/26/2018 | 600 | 604 | ||||||
UBS | ||||||||
7.396%, 08/29/2010 (B)(D) | 750 | 571 | ||||||
|
| |||||||
16,566 | ||||||||
|
| |||||||
Pakistan — 0.1% | ||||||||
Republic of Pakistan | ||||||||
7.125%, 03/31/2016 | 500 | 445 | ||||||
6.875%, 06/01/2017 | 100 | 87 | ||||||
6.875%, 06/01/2017 | 600 | 520 | ||||||
|
| |||||||
1,052 | ||||||||
|
| |||||||
Panama — 1.0% | ||||||||
ENA Norte Trust | ||||||||
4.950%, 04/25/2023 (F) | 248 | 256 | ||||||
Republic of Panama | ||||||||
9.375%, 01/16/2023 | 560 | 811 | ||||||
9.375%, 04/01/2029 | 2,988 | 4,860 | ||||||
8.875%, 09/30/2027 | 1,370 | 2,114 | ||||||
8.125%, 04/28/2034 | 2,128 | 3,080 | ||||||
7.125%, 01/29/2026 | 100 | 135 | ||||||
6.700%, 01/26/2036 | 1,290 | 1,719 | ||||||
|
| |||||||
12,975 | ||||||||
|
| |||||||
Paraguay — 0.1% | ||||||||
Republic of Paraguay | ||||||||
4.625%, 01/25/2023 | 500 | 502 | ||||||
Telefonica Celular del Paraguay | ||||||||
6.750%, 12/13/2022 (A) | 200 | 217 | ||||||
6.750%, 12/13/2022 | 200 | 216 | ||||||
|
| |||||||
935 | ||||||||
|
| |||||||
Peru — 1.2% | ||||||||
Azucarera del Peru | ||||||||
6.375%, 08/02/2022 | 121 | 127 |
7 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Banco de Credito del Peru | ||||||||
5.375%, 09/16/2020 | 10 | $ | 11 | |||||
5.375%, 09/16/2020 (B) | 204 | 222 | ||||||
BBVA Banco Continental | ||||||||
5.000%, 08/26/2022 (B) | 184 | 194 | ||||||
Cementos Pacasmayo SAA | ||||||||
4.500%, 02/08/2023 (B) | 200 | 193 | ||||||
El Fondo MIVIVIENDA | ||||||||
3.500%, 01/31/2023 (B) | 250 | 242 | ||||||
Inkia Energy | ||||||||
8.375%, 04/04/2021 (B) | 200 | 226 | ||||||
Interoceanica IV Finance | ||||||||
3.961%, 11/30/2025 (A)(B)(E) | 841 | 572 | ||||||
3.003%, 11/30/2018 (A)(B)(E) | 306 | 269 | ||||||
Peru Enhanced Pass-Through Finance | ||||||||
4.326%, 06/02/2025 (A)(B)(E) | 1,000 | 660 | ||||||
2.945%, 05/31/2018 (A)(B)(E) | 399 | 365 | ||||||
2.928%, 05/31/2018 (E) | 148 | 135 | ||||||
Republic of Peru | ||||||||
9.910%, 05/05/2015 | PEI | 675 | 306 | |||||
8.750%, 11/21/2033 | 2,839 | 4,642 | ||||||
8.600%, 08/12/2017 | PEI | 2,110 | 1,017 | |||||
8.375%, 05/03/2016 | 350 | 426 | ||||||
8.200%, 08/12/2026 | PEI | 1,350 | 728 | |||||
7.840%, 08/12/2020 | PEI | 2,820 | 1,372 | |||||
7.350%, 07/21/2025 | 1,580 | 2,230 | ||||||
7.125%, 03/30/2019 | 120 | 154 | ||||||
6.950%, 08/12/2031 | PEI | 1,400 | 673 | |||||
Volcan Cia Minera | ||||||||
5.375%, 02/02/2022 (B) | 183 | 194 | ||||||
|
| |||||||
14,958 | ||||||||
|
| |||||||
Philippines — 1.6% | ||||||||
Development Bank of Philippines | ||||||||
5.500%, 03/25/2021 | 330 | 371 | ||||||
National Power | ||||||||
9.625%, 05/15/2028 (A) | 1,100 | 1,735 | ||||||
Power Sector Assets & Liabilities Management | ||||||||
7.390%, 12/02/2024 (B) | 820 | 1,101 | ||||||
Republic of Philippines | ||||||||
10.625%, 03/16/2025 | 1,270 | 2,131 | ||||||
9.500%, 02/02/2030 | 1,237 | 2,027 | ||||||
8.375%, 06/17/2019 | 320 | 431 | ||||||
7.750%, 01/14/2031 | 4,918 | 7,113 | ||||||
6.375%, 10/23/2034 | 530 | 694 | ||||||
6.250%, 01/14/2036 | PHP | 50,000 | 1,628 | |||||
5.500%, 03/30/2026 | 540 | 660 | ||||||
4.000%, 01/15/2021 | 1,216 | 1,344 | ||||||
3.900%, 11/26/2022 | PHP | 45,000 | 1,202 | |||||
|
| |||||||
20,437 | ||||||||
|
| |||||||
Poland — 6.1% | ||||||||
CEDC Finance International | ||||||||
8.875%, 12/01/2016 | EUR | 400 | 396 | |||||
Eileme 2 | ||||||||
11.750%, 01/31/2020 | EUR | 500 | 740 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
11.625%, 01/31/2020 (B) | 1,000 | $ | 1,165 | |||||
Polish Television Holding MTN | ||||||||
11.250%, 11/15/2014 (C) | EUR | 100 | 138 | |||||
11.000%, 11/15/2014 (B)(C) | EUR | 300 | 413 | |||||
Republic of Poland | ||||||||
6.375%, 07/15/2019 | 6,654 | 8,175 | ||||||
6.250%, 10/24/2015 | PLN | 3,080 | 1,015 | |||||
5.750%, 04/25/2029 | PLN | 3,280 | 1,195 | |||||
5.750%, 04/25/2014 | PLN | 980 | 309 | |||||
5.125%, 04/21/2021 | USD | 1,000 | 1,155 | |||||
5.000%, 10/24/2013 | PLN | 2,800 | 868 | |||||
5.000%, 03/23/2022 | 3,438 | 3,928 | ||||||
4.750%, 04/25/2017 | PLN | 19,646 | 6,348 | |||||
4.000%, 03/23/2021 | EUR | 736 | 1,073 | |||||
4.000%, 10/25/2023 | PLN | 15,770 | 4,866 | |||||
3.000%, 03/17/2023 | 811 | 785 | ||||||
3.000%, 08/24/2016 | PLN | 29,220 | 9,361 | |||||
2.750%, 08/25/2023 | PLN | 6,040 | 2,010 | |||||
0.479%, 07/25/2014 (E) | PLN | 12,540 | 3,698 | |||||
Republic of Poland, Ser 0114 | ||||||||
3.767%, 01/25/2014 (E) | PLN | 26,070 | 7,802 | |||||
Republic of Poland, Ser 0415 | ||||||||
5.500%, 04/25/2015 | PLN | 19,600 | 6,288 | |||||
Republic of Poland, Ser 0922 | ||||||||
5.750%, 09/23/2022 | PLN | 21,735 | 7,630 | |||||
Republic of Poland, Ser 1017 | ||||||||
5.250%, 10/25/2017 | PLN | 5,015 | 1,660 | |||||
Republic of Poland, Ser 1019 | ||||||||
5.500%, 10/25/2019 | PLN | 7,500 | 2,559 | |||||
Republic of Poland, Ser 1021 | ||||||||
5.750%, 10/25/2021 | PLN | 7,652 | 2,678 | |||||
|
| |||||||
76,255 | ||||||||
|
| |||||||
Qatar — 0.5% | ||||||||
Qtel International Finance MTN | ||||||||
7.875%, 06/10/2019 | 465 | 607 | ||||||
5.000%, 10/19/2025 (B) | 200 | 221 | ||||||
4.750%, 02/16/2021 | 250 | 279 | ||||||
4.500%, 01/31/2043 (B) | 200 | 192 | ||||||
3.875%, 01/31/2028 (B) | 400 | 394 | ||||||
3.250%, 02/21/2023 (B) | 230 | 226 | ||||||
State of Qatar | ||||||||
9.750%, 06/15/2030 | 225 | 378 | ||||||
6.550%, 04/09/2019 | 1,533 | 1,899 | ||||||
6.400%, 01/20/2040 | 320 | 410 | ||||||
6.400%, 01/20/2040 (B) | 377 | 482 | ||||||
5.750%, 01/20/2042 (B) | 750 | 892 | ||||||
5.250%, 01/20/2020 | 246 | 287 | ||||||
|
| |||||||
6,267 | ||||||||
|
| |||||||
Romania — 0.8% | ||||||||
Government of Romania MTN | ||||||||
6.750%, 02/07/2022 | 2,850 | 3,317 | ||||||
6.750%, 02/07/2022 (B) | 350 | 407 | ||||||
6.500%, 06/18/2018 | EUR | 686 | 986 | |||||
6.000%, 10/19/2013 | RON | 1,210 | 352 | |||||
5.900%, 07/26/2017 | RON | 2,500 | 734 | |||||
5.850%, 07/28/2014 | RON | 5,020 | 1,463 | |||||
5.850%, 07/28/2014 | RON | 40 | 12 | |||||
5.800%, 10/26/2015 | RON | 4,970 | 1,452 |
8 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
4.375%, 08/22/2023 (B) | 994 | $ | 973 | |||||
|
| |||||||
9,696 | ||||||||
|
| |||||||
Russia — 10.2% | ||||||||
Alfa Bank Via Alfa Bond Issuance | ||||||||
7.500%, 09/26/2019 | 550 | 582 | ||||||
7.500%, 09/26/2019 (B) | 715 | 757 | ||||||
Brunswick Rail Finance | ||||||||
6.500%, 11/01/2017 | 350 | 370 | ||||||
Credit Bank of Moscow Via CBOM Finance | ||||||||
7.700%, 02/01/2018 | 1,000 | 1,035 | ||||||
EuroChem Mineral & Chemical via EuroChem GI | ||||||||
5.125%, 12/12/2017 (B) | 250 | 254 | ||||||
Evraz Group | ||||||||
9.500%, 04/24/2018 | 600 | 688 | ||||||
6.750%, 04/27/2018 (B) | 250 | 259 | ||||||
6.750%, 04/27/2018 | 700 | 724 | ||||||
Gazprom Neft OAO Via GPN Capital | ||||||||
4.375%, 09/19/2022 (B) | 550 | 542 | ||||||
4.375%, 09/19/2022 | 970 | 957 | ||||||
Gazprom OAO Via Gaz Capital | ||||||||
9.250%, 04/23/2019 | 900 | 1,161 | ||||||
6.510%, 03/07/2022 | 300 | 346 | ||||||
4.950%, 07/19/2022 (B) | 877 | 920 | ||||||
4.950%, 02/06/2028 | 250 | 246 | ||||||
4.950%, 02/06/2028 (B) | 793 | 781 | ||||||
Lukoil International Finance | ||||||||
6.656%, 06/07/2022 | 100 | 118 | ||||||
6.125%, 11/09/2020 | 200 | 227 | ||||||
Metalloinvest Finance | ||||||||
6.500%, 07/21/2016 | 700 | 737 | ||||||
MTS International Funding | ||||||||
8.625%, 06/22/2020 | 400 | 508 | ||||||
8.625%, 06/22/2020 (B) | 1,300 | 1,651 | ||||||
Novatek OAO via Novatek Finance | ||||||||
6.604%, 02/03/2021 (B) | 363 | 421 | ||||||
5.326%, 02/03/2016 | 200 | 214 | ||||||
Promsvyazbank Via PSB Finance | ||||||||
10.200%, 11/06/2019 | 350 | 373 | ||||||
8.500%, 04/25/2017 | 200 | 212 | ||||||
Rosneft Oil via Rosneft International Finance | ||||||||
4.199%, 03/06/2022 | 500 | 496 | ||||||
Russian Agricultural Bank Via RSHB Capital | ||||||||
5.298%, 12/27/2017 (B) | 415 | 440 | ||||||
Russian Federal Bond - OFZ | ||||||||
8.150%, 02/03/2027 | RUB | 126,462 | 4,387 | |||||
7.600%, 04/14/2021 | RUB | 523,000 | 17,654 | |||||
7.600%, 07/20/2022 | RUB | 78,900 | 2,655 | |||||
7.500%, 03/15/2018 | RUB | 55,065 | 1,865 | |||||
7.500%, 02/27/2019 | RUB | 391,870 | 13,248 | |||||
7.400%, 04/19/2017 | RUB | 39,870 | 1,338 | |||||
7.400%, 06/14/2017 | RUB | 109,160 | 3,661 | |||||
7.350%, 01/20/2016 | RUB | 11,380 | 378 | |||||
7.100%, 03/13/2014 | RUB | 173,220 | 5,642 | |||||
7.000%, 06/03/2015 | RUB | 287,260 | 9,448 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
6.900%, 08/03/2016 | RUB | 13,130 | $ | 433 | ||||
6.880%, 07/15/2015 | RUB | 5,500 | 181 | |||||
6.200%, 01/31/2018 | RUB | 9,458 | 303 | |||||
Russian Foreign Bond - Eurobond | ||||||||
12.750%, 06/24/2028 | 746 | 1,425 | ||||||
7.850%, 03/10/2018 | RUB | 355,000 | 12,177 | |||||
7.500%, 03/31/2030 | 11,288 | 13,983 | ||||||
7.500%, 03/31/2030 | 1,547 | 1,917 | ||||||
5.625%, 04/04/2042 | 200 | 224 | ||||||
5.625%, 04/04/2042 (B) | 400 | 449 | ||||||
5.000%, 04/29/2020 (B) | 200 | 226 | ||||||
3.250%, 04/04/2017 (B) | 1,200 | 1,255 | ||||||
Russian Railways via RZD Capital | ||||||||
5.700%, 04/05/2022 | 398 | 439 | ||||||
Russian Standard Bank Via Russian Standard Finance | ||||||||
9.250%, 07/11/2017 | 700 | 751 | ||||||
Sberbank of Russia Via SB Capital | ||||||||
6.125%, 02/07/2022 (B) | 260 | 291 | ||||||
6.125%, 02/07/2022 | 700 | 782 | ||||||
5.717%, 06/16/2021 | 400 | 435 | ||||||
5.125%, 10/29/2022 (B) | 247 | 246 | ||||||
SCF Capital | ||||||||
5.375%, 10/27/2017 (B) | 350 | 362 | ||||||
Severstal OAO Via Steel Capital | ||||||||
5.900%, 10/17/2022 (B) | USD | 200 | 200 | |||||
5.900%, 10/17/2022 | 200 | 199 | ||||||
Severstal Via Steel Capital | ||||||||
6.700%, 10/25/2017 | 501 | 545 | ||||||
Sibur Securities | ||||||||
3.914%, 01/31/2018 (B) | 475 | 467 | ||||||
Sinek Capital Via Edel Capital | ||||||||
7.700%, 08/03/2015 (A) | 500 | 535 | ||||||
Teorema Holding | ||||||||
11.000%, 10/27/2009 (A)(G) | 3,400 | 340 | ||||||
TMK Capital | ||||||||
7.750%, 01/27/2018 | 1,400 | 1,477 | ||||||
VEB-Leasing Via VEB Leasing Investment | ||||||||
5.125%, 05/27/2016 | 320 | 336 | ||||||
Vimpel Communications Via VIP Finance Ireland | ||||||||
9.125%, 04/30/2018 | 200 | 237 | ||||||
9.125%, 04/30/2018 (B) | 600 | 712 | ||||||
7.748%, 02/02/2021 | 200 | 224 | ||||||
7.748%, 02/02/2021 (B) | 1,150 | 1,288 | ||||||
VimpelCom Holdings | ||||||||
7.504%, 03/01/2022 | 200 | 223 | ||||||
7.504%, 03/01/2022 (B) | 400 | 445 | ||||||
6.255%, 03/01/2017 | 200 | 214 | ||||||
5.200%, 02/13/2019 (B) | USD | 200 | 201 | |||||
Vnesheconombank Via VEB Finance | ||||||||
6.902%, 07/09/2020 | 1,540 | 1,790 | ||||||
6.902%, 07/09/2020 (B) | 785 | 913 | ||||||
6.800%, 11/22/2025 (B) | 150 | 176 | ||||||
6.800%, 11/22/2025 | 710 | 831 | ||||||
6.025%, 07/05/2022 (B) | 750 | 830 |
9 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
5.450%, 11/22/2017 (B) | 300 | $ | 326 | |||||
VTB Bank Via VTB Capital | ||||||||
6.875%, 05/29/2018 | 500 | 551 | ||||||
6.551%, 10/13/2020 (B) | 860 | 944 | ||||||
6.315%, 02/22/2018 | 762 | 826 | ||||||
6.250%, 06/30/2035 | 357 | 386 | ||||||
6.000%, 04/12/2017 (B) | 300 | 321 | ||||||
|
| |||||||
126,711 | ||||||||
|
| |||||||
Saudi Arabia — 0.1% | ||||||||
Dar Al-Arkan International Sukuk II | ||||||||
10.750%, 02/18/2015 | 200 | 220 | ||||||
10.750%, 02/18/2015 (B) | 600 | 659 | ||||||
|
| |||||||
879 | ||||||||
|
| |||||||
Senegal — 0.1% | ||||||||
Republic of Senegal | ||||||||
8.750%, 05/13/2021 (B)(H) | 950 | 1,126 | ||||||
|
| |||||||
Serbia — 0.2% | ||||||||
Republic of Serbia | ||||||||
7.250%, 09/28/2021 (B) | 450 | 498 | ||||||
7.250%, 09/28/2021 | 800 | 886 | ||||||
5.250%, 11/21/2017 (B) | 200 | 206 | ||||||
4.875%, 02/25/2020 (B) | 450 | 445 | ||||||
|
| |||||||
2,035 | ||||||||
|
| |||||||
Singapore — 0.2% | ||||||||
DBS Bank | ||||||||
3.625%, 09/21/2022 (D) | 200 | 209 | ||||||
MMI International | ||||||||
8.000%, 03/01/2017 (B) | 250 | 256 | ||||||
Oversea-Chinese Banking | ||||||||
3.150%, 03/11/2023 (B)(D) | 208 | 212 | ||||||
Sea Product | ||||||||
10.292%, 05/14/2010 | 1,505 | 1,355 | ||||||
Yanlord Land Group | ||||||||
9.500%, 05/04/2017 | 800 | 862 | ||||||
|
| |||||||
2,894 | ||||||||
|
| |||||||
Slovak Republic — 0.1% | ||||||||
Republic of Slovak | ||||||||
4.375%, 05/21/2022 (B) | 1,292 | 1,363 | ||||||
|
| |||||||
Slovenia — 0.1% | ||||||||
Republic of Slovenia | ||||||||
5.500%, 10/26/2022 (B) | 658 | 630 | ||||||
|
| |||||||
South Africa — 6.2% | ||||||||
African Bank MTN | ||||||||
8.125%, 02/24/2017 | 600 | 664 | ||||||
Edcon Proprietary | ||||||||
9.500%, 03/01/2018 | EUR | 500 | 636 | |||||
3.453%, 06/15/2014 (D) | EUR | 248 | 316 | |||||
Gold Fields Orogen Holdings | ||||||||
4.875%, 10/07/2020 | 524 | 515 | ||||||
Republic of South Africa | ||||||||
13.500%, 09/15/2015 | ZAR | 15,650 | 2,006 | |||||
10.500%, 12/21/2026 | 56,410 | 7,762 | ||||||
8.750%, 02/28/2048 | ZAR | 15,200 | 1,727 | |||||
8.500%, 06/23/2017 | 860 | 1,065 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
8.250%, 09/15/2017 | 17,430 | $ | 2,062 | |||||
8.000%, 12/21/2018 | ZAR | 149,080 | 17,577 | |||||
7.750%, 02/28/2023 | ZAR | 106,517 | 12,317 | |||||
7.250%, 01/15/2020 | ZAR | 26,500 | 3,007 | |||||
7.000%, 02/28/2031 | ZAR | 62,602 | 6,216 | |||||
6.875%, 05/27/2019 | 2,673 | 3,254 | ||||||
6.750%, 03/31/2021 | ZAR | 90,950 | 10,014 | |||||
6.500%, 02/28/2041 | ZAR | 15,600 | 1,374 | |||||
6.250%, 03/31/2036 | ZAR | 14,660 | 1,276 | |||||
6.250%, 03/08/2041 | 609 | 738 | ||||||
5.875%, 05/30/2022 | 670 | 786 | ||||||
5.500%, 03/09/2020 | 540 | 617 | ||||||
4.665%, 01/17/2024 | 1,500 | 1,605 | ||||||
Sappi Papier Holding | ||||||||
8.375%, 06/15/2019 (B) | 300 | 333 | ||||||
Transnet SOC | ||||||||
4.000%, 07/26/2022 (B) | 1,119 | 1,071 | ||||||
|
| |||||||
76,938 | ||||||||
|
| |||||||
South Korea — 0.0% | ||||||||
Korea Hydro & Nuclear Power | ||||||||
4.750%, 07/13/2021 | 200 | 225 | ||||||
3.000%, 09/19/2022 (B) | 280 | 275 | ||||||
|
| |||||||
500 | ||||||||
|
| |||||||
Spain — 0.0% | ||||||||
Ajecorp | ||||||||
6.500%, 05/14/2022 (B) | 250 | 269 | ||||||
|
| |||||||
Sri Lanka — 0.2% | ||||||||
Bank of Ceylon | ||||||||
6.875%, 05/03/2017 (B) | 320 | 336 | ||||||
Republic of Sri Lanka | ||||||||
7.400%, 01/22/2015 (B) | 150 | 160 | ||||||
6.250%, 10/04/2020 | 100 | 107 | ||||||
6.250%, 10/04/2020 (B) | 620 | 660 | ||||||
6.250%, 07/27/2021 (B) | 400 | 423 | ||||||
5.875%, 07/25/2022 (B) | 200 | 208 | ||||||
|
| |||||||
1,894 | ||||||||
|
| |||||||
Supra-National — 0.1% | ||||||||
Inter-American Development Bank MTN | ||||||||
5.394%, 08/20/2015 (E) | IDR | 12,430,000 | 1,122 | |||||
|
| |||||||
Thailand — 2.5% | ||||||||
PTT Global Chemical | ||||||||
4.250%, 09/19/2022 (B) | 200 | 209 | ||||||
Thailand Government Bond | ||||||||
5.670%, 03/13/2028 | THB | 3,000 | 122 | |||||
3.875%, 06/13/2019 | THB | 35,781 | 1,262 | |||||
3.775%, 06/25/2032 | THB | 29,000 | 951 | |||||
3.650%, 12/17/2021 | 206,180 | 7,128 | ||||||
3.625%, 05/22/2015 | THB | 217,440 | 7,540 | |||||
3.625%, 06/16/2023 | THB | 59,409 | 2,037 | |||||
3.580%, 12/17/2027 | THB | 29,010 | 962 | |||||
3.250%, 06/16/2017 | THB | 81,910 | 2,817 | |||||
2.800%, 10/10/2017 | THB | 103,000 | 3,473 | |||||
1.200%, 07/14/2021 | THB | 141,396 | 4,986 | |||||
|
| |||||||
31,487 | ||||||||
|
| |||||||
Turkey — 6.6% | ||||||||
Akbank | ||||||||
3.875%, 10/24/2017 (B) | USD | 150 | 153 |
10 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Export Credit Bank of Turkey | ||||||||
5.875%, 04/24/2019 (B) | 200 | $ | 222 | |||||
Republic of Turkey | ||||||||
11.875%, 01/15/2030 | 460 | 840 | ||||||
10.000%, 12/04/2013 | TRY | 1,200 | 680 | |||||
9.500%, 01/12/2022 | TRY | 4,346 | 2,791 | |||||
9.000%, 03/05/2014 | TRY | 1,790 | 1,014 | |||||
9.000%, 05/21/2014 | TRY | 6,830 | 4,145 | |||||
9.000%, 01/27/2016 | 2,200 | 1,296 | ||||||
9.000%, 03/08/2017 | TRY | 12,272 | 7,373 | |||||
8.500%, 09/14/2022 | TRY | 5,444 | 3,317 | |||||
8.000%, 02/14/2034 | 1,976 | 2,717 | ||||||
7.500%, 09/24/2014 | TRY | 4,070 | 2,288 | |||||
7.500%, 09/24/2014 | TRY | 2,110 | 1,186 | |||||
7.500%, 07/14/2017 | 1,309 | 1,561 | ||||||
7.500%, 11/07/2019 | 3,400 | 4,242 | ||||||
7.375%, 02/05/2025 | 1,271 | 1,624 | ||||||
7.250%, 03/05/2038 | 400 | 517 | ||||||
7.100%, 03/08/2023 | TRY | 2,100 | 1,157 | |||||
7.000%, 09/26/2016 | 738 | 849 | ||||||
7.000%, 03/11/2019 | 240 | 290 | ||||||
7.000%, 06/05/2020 | 410 | 503 | ||||||
6.875%, 03/17/2036 | 1,213 | 1,495 | ||||||
6.750%, 04/03/2018 | 4,534 | 5,350 | ||||||
6.750%, 05/30/2040 | 375 | 463 | ||||||
6.500%, 01/07/2015 | TRY | 8,060 | 4,468 | |||||
6.250%, 09/26/2022 | 740 | 877 | ||||||
6.000%, 01/14/2041 | 1,002 | 1,122 | ||||||
5.625%, 03/30/2021 | 390 | 445 | ||||||
5.125%, 03/25/2022 | 2,288 | 2,517 | ||||||
4.500%, 02/11/2015 | TRY | 6,672 | 3,977 | |||||
4.000%, 04/29/2015 | TRY | 6,715 | 3,982 | |||||
4.000%, 04/01/2020 | TRY | 3,341 | 2,187 | |||||
3.250%, 03/23/2023 | 4,193 | 3,952 | ||||||
3.000%, 02/23/2022 | TRY | 13,216 | 8,360 | |||||
2.692%, 07/17/2013 (E) | TRY | 3,753 | 2,036 | |||||
Turkiye Garanti Bankasi | ||||||||
7.375%, 03/07/2018 | TRY | 1,530 | 826 | |||||
5.250%, 09/13/2022 (B) | 200 | 208 | ||||||
4.000%, 09/13/2017 (B) | 270 | 277 | ||||||
Yuksel Insaat | ||||||||
9.500%, 11/10/2015 | 146 | 112 | ||||||
|
| |||||||
81,419 | ||||||||
|
| |||||||
Ukraine — 1.9% | ||||||||
DTEK Finance | ||||||||
9.500%, 04/28/2015 (A)(B) | 420 | 442 | ||||||
9.500%, 04/28/2015 | 550 | 579 | ||||||
7.875%, 04/04/2018 (B)(F) | 400 | 396 | ||||||
Ferrexpo Finance | ||||||||
7.875%, 04/07/2016 (B) | 238 | 237 | ||||||
7.875%, 04/07/2016 | 1,200 | 1,197 | ||||||
Financing of Infrastrucural Projects State Enterprise | ||||||||
9.000%, 12/07/2017 (A)(B) | 400 | 414 | ||||||
Government of Ukraine | ||||||||
9.250%, 07/24/2017 (B) | 1,353 | 1,461 | ||||||
9.250%, 07/24/2017 | 1,850 | 2,003 | ||||||
7.950%, 02/23/2021 (B) | 250 | 260 | ||||||
7.950%, 02/23/2021 | 450 | 468 |
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
7.800%, 11/28/2022 | 1,760 | $ | 1,782 | |||||
7.800%, 11/28/2022 (B) | 1,172 | 1,187 | ||||||
7.750%, 09/23/2020 | 555 | 577 | ||||||
6.250%, 06/17/2016 | 200 | 196 | ||||||
6.250%, 06/17/2016 (B) | 600 | 587 | ||||||
Metinvest | ||||||||
10.250%, 05/20/2015 | 600 | 634 | ||||||
8.750%, 02/14/2018 (B) | 369 | 377 | ||||||
8.750%, 02/14/2018 | 1,229 | 1,257 | ||||||
MHP | ||||||||
10.250%, 04/29/2015 (B) | 1,428 | 1,525 | ||||||
8.250%, 04/02/2020 (B)(F) | 600 | 595 | ||||||
National Naftogaz of Ukraine | ||||||||
9.500%, 09/30/2014 | 2,335 | 2,396 | ||||||
Oschadbank Via SSB No. 1 | ||||||||
8.250%, 03/10/2016 | 430 | 424 | ||||||
State Export-Import Bank of Ukraine JSC via Biz Finance | ||||||||
8.750%, 01/22/2018 | 870 | 877 | ||||||
Ukreximbank Via Biz Finance | ||||||||
8.375%, 04/27/2015 | 4,142 | 4,204 | ||||||
|
| |||||||
24,075 | ||||||||
|
| |||||||
United Arab Emirates — 0.9% | ||||||||
Atlantic Finance | ||||||||
10.750%, 05/27/2014 (C) | 950 | 1,026 | ||||||
Dolphin Energy | ||||||||
5.888%, 06/15/2019 | 459 | 521 | ||||||
DP World MTN | ||||||||
6.850%, 07/02/2037 | 1,300 | 1,478 | ||||||
DP World Sukuk | ||||||||
6.250%, 07/02/2017 | 400 | 447 | ||||||
Dubai Electricity & Water Authority | ||||||||
7.375%, 10/21/2020 | 220 | 267 | ||||||
7.375%, 10/21/2020 (B) | 860 | 1,045 | ||||||
Dubai Holding Commercial Operations MTN | ||||||||
6.000%, 02/01/2017 | GBP | 650 | 997 | |||||
4.750%, 01/30/2014 | EUR | 1,450 | 1,858 | |||||
Emaar Sukuk MTN | ||||||||
6.400%, 07/18/2019 | 200 | 220 | ||||||
Emirate of Dubai MTN | ||||||||
7.750%, 10/05/2020 | 1,060 | 1,309 | ||||||
Emirates Airline | ||||||||
5.125%, 06/08/2016 | 300 | 315 | ||||||
4.500%, 02/28/2025 | 350 | 343 | ||||||
Jafz Sukuk | ||||||||
7.000%, 06/19/2019 | 200 | 227 | ||||||
MAF Global Securities MTN | ||||||||
5.250%, 07/05/2019 | 700 | 757 | ||||||
Pyrus | ||||||||
7.500%, 12/20/2015 | 700 | 880 | ||||||
|
| |||||||
11,690 | ||||||||
|
| |||||||
United States — 0.2% | ||||||||
Citigroup Funding MTN | ||||||||
16.390%, 01/31/2022 (B) | 1,100 | 1,194 | ||||||
7.000%, 10/25/2019 (B) | 1,050 | 1,213 |
11 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands) | Market Value ($ Thousands) | ||||||
Southern Copper | ||||||||
6.750%, 04/16/2040 | 86 | $ | 97 | |||||
5.250%, 11/08/2042 | 200 | 190 | ||||||
|
| |||||||
2,694 | ||||||||
|
| |||||||
Uruguay — 0.6% | ||||||||
Republic of Uruguay | ||||||||
8.000%, 11/18/2022 | 1,623 | 2,263 | ||||||
7.625%, 03/21/2036 | 1,176 | 1,693 | ||||||
6.875%, 09/28/2025 | 317 | 418 | ||||||
4.125%, 11/20/2045 | 110 | 102 | ||||||
Republic of Uruguay PIK | ||||||||
7.875%, 01/15/2033 | 1,763 | 2,550 | ||||||
|
| |||||||
7,026 | ||||||||
|
| |||||||
Venezuela — 3.1% | ||||||||
Petroleos de Venezuela | ||||||||
12.750%, 02/17/2022 | 290 | 328 | ||||||
8.500%, 11/02/2017 | 877 | 852 | ||||||
8.500%, 11/02/2017 | 900 | 875 | ||||||
5.500%, 04/12/2037 | 550 | 373 | ||||||
5.375%, 04/12/2027 | 1,498 | 1,033 | ||||||
5.250%, 04/12/2017 | 948 | 822 | ||||||
5.000%, 10/28/2015 | 560 | 517 | ||||||
4.900%, 10/28/2014 | 10,770 | 10,366 | ||||||
Republic of Venezuela | ||||||||
13.625%, 08/15/2018 | 2,100 | 2,452 | ||||||
13.625%, 08/15/2018 | 144 | 162 | ||||||
12.750%, 08/23/2022 | 6,213 | 7,247 | ||||||
11.950%, 08/05/2031 | 2,278 | 2,563 | ||||||
11.750%, 10/21/2026 | 4,201 | 4,648 | ||||||
10.750%, 09/19/2013 | 190 | 194 | ||||||
9.250%, 09/15/2027 | 958 | 943 | ||||||
9.250%, 05/07/2028 | 612 | 586 | ||||||
9.000%, 05/07/2023 | 1,024 | 980 | ||||||
9.000%, 05/07/2023 | 30 | 29 | ||||||
8.500%, 10/08/2014 | 456 | 463 | ||||||
8.250%, 10/13/2024 | 520 | 472 | ||||||
7.750%, 10/13/2019 | 1,153 | 1,078 | ||||||
7.650%, 04/21/2025 | 300 | 263 | ||||||
7.000%, 03/31/2038 | 80 | 63 | ||||||
6.000%, 12/09/2020 | 1,047 | 872 | ||||||
|
| |||||||
38,181 | ||||||||
|
| |||||||
Vietnam — 0.1% | ||||||||
Republic of Vietnam | ||||||||
6.875%, 01/15/2016 | 360 | 399 | ||||||
6.750%, 01/29/2020 | 660 | 769 | ||||||
Vietnam Joint Stock Commercial Bank for Industry and Trade | ||||||||
8.000%, 05/17/2017(B) | 350 | 366 | ||||||
|
| |||||||
1,534 | ||||||||
|
| |||||||
Zambia — 0.0% | ||||||||
Republic of Zambia | ||||||||
5.375%, 09/20/2022 | 250 | 248 | ||||||
|
| |||||||
Total Global Bonds | 1,123,576 | |||||||
|
| |||||||
LOAN PARTICIPATIONS — 1.4% | ||||||||
Angola — 0.1% | ||||||||
Republic of Angola | ||||||||
2.317%, 04/30/2016(A) | EUR | 758 | 923 | |||||
|
|
Description | Face Amount(1) (Thousands)/Shares | Market Value ($ Thousands) | ||||||
Indonesia — 0.1% | ||||||||
PT Bumi | ||||||||
11.199%, 08/07/2013 | 1,743 | $ | 1,708 | |||||
|
| |||||||
Mexico — 0.5% | ||||||||
Altos Hornos Promissory Note (Counterparty: Deustche Bank) | ||||||||
0.000%, 12/31/2049 (A)(G) | 4,500 | 1,665 | ||||||
Altos Hornos Promissory Note No. 5 | ||||||||
0.000%, 04/29/1999 (A)(G) | 2,500 | 925 | ||||||
Altos Hornos Promissory Note No. 6 | ||||||||
0.000%, 04/29/1999 (A)(G) | 2,500 | 925 | ||||||
Altos Hornos Tranche A (Counterparty: Bank of America) | ||||||||
0.000%, 04/11/2004 (A)(G) | 6,540 | 2,420 | ||||||
|
| |||||||
5,935 | ||||||||
|
| |||||||
Singapore — 0.6% | ||||||||
Ashmore Cayman SPC, No. 1 | ||||||||
0.000%, 08/31/2011 (A)(G) | 9,161 | 4,499 | ||||||
Morton Bay | ||||||||
6.220%, 12/30/2009 (A) | 3,158 | 2,657 | ||||||
|
| |||||||
7,156 | ||||||||
|
| |||||||
United Arab Emirates — 0.1% | ||||||||
Dubai World | ||||||||
1.000%, 09/30/2018 | 1,008 | 544 | ||||||
1.000%, 09/30/2015 | 1,200 | 696 | ||||||
|
| |||||||
1,240 | ||||||||
|
| |||||||
Total Loan Participations | 16,962 | |||||||
|
| |||||||
CONVERTIBLE BONDS — 0.1% | ||||||||
Dana Gas Sukuk CV to 19.076 Variable Shares | ||||||||
7.500%, 10/31/49 | 850 | 761 | ||||||
Suzlon Energy CV to 533.2762 Shares | ||||||||
2.639%, 07/25/14 (E) | 450 | 293 | ||||||
|
| |||||||
Total Convertible Bonds | 1,054 | |||||||
|
| |||||||
AFFILIATED PARTNERSHIP — 0.1% | ||||||||
SEI Liquidity Fund, L.P. | ||||||||
0.120% †*(I) | 1,427,291 | 1,427 | ||||||
|
| |||||||
Total Affiliated Partnership | 1,427 | |||||||
|
|
12 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
Description | Face Amount(1) (Thousands)/Contracts | Market Value ($ Thousands) | ||||||
TIME DEPOSITS — 12.5% | ||||||||
United States — 12.5% | ||||||||
Brown Brothers Harriman | ||||||||
4.150%, 04/01/2013 | ZAR | 7 | $ | 1 | ||||
0.030%, 04/01/2013 | 155,248 | 155,248 | ||||||
0.010%, 04/01/2013 | SGD | — | — | |||||
(0.028)%, 04/01/2013 | EUR | 215 | 275 | |||||
|
| |||||||
Total Time Deposits |
| 155,524 | ||||||
|
| |||||||
Total Investments — 104.5% |
| $ | 1,298,543 | |||||
|
| |||||||
PURCHASED OPTIONS — 0.1% |
| |||||||
Euro FX Currency Put Option, Expires 09/21/13, Strike Price $1.27 ** | 9,800,000 | $ | 278 | |||||
Euro FX Currency Put Option, Expires 07/20/13, Strike Price $1.31 ** | 9,180,000 | 399 | ||||||
|
| |||||||
Total Purchased Options |
| $ | 677 | |||||
|
|
A list of the open forward foreign currency contracts held by the Fund at March 31, 2013, is as follows:
Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized (Depreciation) | |||||||||||||||||
04/02/2013-04/15/2013 | IDR | 39,217,734 | USD | 4,033 | $ | 3 | ||||||||||||||
04/02/2013-04/15/2013 | USD | 1,846 | IDR | 17,932,682 | (2 | ) | ||||||||||||||
04/02/2013-05/03/2013 | BRL | 72,035 | USD | 36,045 | 452 | |||||||||||||||
04/02/2013-05/03/2013 | USD | 39,966 | BRL | 80,203 | (343 | ) | ||||||||||||||
04/03/2013-04/17/2013 | USD | 1,531 | NGN | 244,085 | 3 | |||||||||||||||
04/03/2013-04/22/2013 | EUR | 18,808 | USD | 24,549 | 441 | |||||||||||||||
04/08/2013-04/15/2013 | MYR | 25,045 | USD | 8,086 | 2 | |||||||||||||||
04/08/2013-04/19/2013 | COP | 13,743,502 | USD | 7,589 | 67 | |||||||||||||||
04/08/2013-04/19/2013 | USD | 4,413 | COP | 8,005,050 | (30 | ) | ||||||||||||||
04/08/2013-05/31/2013 | USD | 26,482 | RUB | 811,402 | (500 | ) | ||||||||||||||
04/08/2013-05/31/2013 | USD | 5,844 | ZAR | 53,196 | (73 | ) | ||||||||||||||
04/08/2013-05/31/2013 | ZAR | 94,901 | USD | 10,510 | 258 | |||||||||||||||
04/08/2013-06/10/2013 | PLN | 62,981 | USD | 19,835 | 563 | |||||||||||||||
04/08/2013-06/10/2013 | USD | 13,717 | PLN | 43,882 | (290 | ) | ||||||||||||||
04/08/2013-06/14/2013 | MXN | 159,491 | USD | 12,692 | (195 | ) | ||||||||||||||
04/08/2013-06/14/2013 | USD | 22,804 | MXN | 289,984 | 614 | |||||||||||||||
04/08/2013-06/18/2013 | USD | 21,241 | MYR | 65,855 | (8 | ) | ||||||||||||||
04/08/2013-06/28/2013 | RUB | 794,708 | USD | 25,733 | 308 | |||||||||||||||
04/10/2013-05/31/2013 | TRY | 6,255 | USD | 3,427 | (5 | ) | ||||||||||||||
04/11/2013 | KRW | 5,763,165 | USD | 5,285 | 106 | |||||||||||||||
04/11/2013 | USD | 5,390 | KRW | 5,763,165 | (211 | ) | ||||||||||||||
04/12/2013 | THB | 35,716 | USD | 1,200 | (19 | ) | ||||||||||||||
04/12/2013-06/14/2013 | USD | 13,343 | THB | 402,387 | 375 | |||||||||||||||
04/15/2013 | INR | 925,439 | USD | 16,909 | (73 | ) | ||||||||||||||
04/15/2013 | USD | 2,347 | EUR | 1,821 | (13 | ) | ||||||||||||||
04/15/2013 | USD | 4,960 | INR | 268,795 | (28 | ) | ||||||||||||||
04/15/2013-04/22/2013 | GBP | 963 | USD | 1,453 | (10 | ) | ||||||||||||||
04/19/2013 | CLP | 331,085 | USD | 699 | (2 | ) | ||||||||||||||
04/19/2013-05/17/2013 | USD | 1,120 | PEI | 2,899 | (1 | ) | ||||||||||||||
04/25/2013-05/15/2013 | PHP | 238,277 | USD | 5,832 | (15 | ) | ||||||||||||||
04/25/2013-05/15/2013 | USD | 4,666 | PHP | 189,870 | (7 | ) | ||||||||||||||
04/25/2013-05/31/2013 | USD | 3,343 | RON | 11,244 | (97 | ) | ||||||||||||||
04/30/2013 | CZK | 491 | USD | 26 | 1 | |||||||||||||||
04/30/2013 | HUF | 1,090,061 | USD | 4,886 | 308 | |||||||||||||||
04/30/2013-05/31/2013 | RON | 6,352 | USD | 1,879 | 46 | |||||||||||||||
05/24/2013-05/28/2013 | CNY | 7,762 | USD | 1,233 | (12 | ) | ||||||||||||||
05/31/2013 | USD | 729 | HUF | 163,606 | (45 | ) | ||||||||||||||
05/31/2013 | USD | 4,872 | TRY | 8,851 | (16 | ) | ||||||||||||||
06/05/2013-07/17/2015 | CNH | 207,377 | USD | 31,745 | (1,423 | ) | ||||||||||||||
06/05/2013-07/17/2015 | USD | 31,684 | CNH | 207,377 | 1,486 | |||||||||||||||
06/24/2013 | TWD | 166,061 | USD | 5,604 | 40 | |||||||||||||||
09/18/2013-10/03/2013 | USD | 950 | ARS | 6,136 | 2 | |||||||||||||||
|
| |||||||||||||||||||
$ | 1,657 | |||||||||||||||||||
|
|
A list of the counterparties for the open forward foreign currency contracts held by the Fund at March 31, 2013, is as follows:
Counterparty | Settlement Date | Currency to Deliver ($ Thousands) | Currency to Receive ($ Thousands) | Unrealized Appreciation (Depreciation) ($ Thousands) | ||||||||||||
Bank of America | 04/02/2013-05/31/2013 | (24,907 | ) | 25,214 | $ | 307 | ||||||||||
Barclays PLC | 04/02/2013-07/25/2013 | (42,202 | ) | 42,167 | (35 | ) | ||||||||||
Brown Brothers Harriman | 04/19/2013 | (547 | ) | 540 | (7 | ) | ||||||||||
Citigroup | 04/02/2013-10/03/2013 | (104,753 | ) | 104,836 | 83 | |||||||||||
Credit Suisse First Boston | 04/30/2013-09/18/2013 | (3,070 | ) | 3,069 | (1 | ) | ||||||||||
Deutsche Bank | 04/15/2013-06/18/2013 | (49,510 | ) | 50,346 | 836 | |||||||||||
Goldman Sachs | 04/02/2013-06/14/2013 | (5,747 | ) | 5,767 | 20 | |||||||||||
HSBC | 04/02/2013-07/17/2015 | (103,755 | ) | 103,710 | (45 | ) | ||||||||||
ING | 04/02/2013-04/15/2013 | (46,661 | ) | 46,570 | (91 | ) | ||||||||||
JPMorgan Chase Bank | 04/02/2013-06/24/2013 | (33,794 | ) | 34,226 | 432 | |||||||||||
Standard New York, Inc. | 04/02/2013-04/15/2013 | (7,210 | ) | 7,368 | 158 | |||||||||||
UBS | 04/15/2013-09/27/2013 | (14,739 | ) | 14,739 | – | |||||||||||
|
| |||||||||||||||
$ | 1,657 | |||||||||||||||
|
|
For the six months ended March 31, 2013, 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 period.
13 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
A list of the open swap agreements held by the fund at March 31, 2013, is as follows:
Interest Rate Swaps | ||||||||||||||||
Counterparty | Fund Pays | Fund Receives | Termination Date | Currency | Notional Amount (Thousands) | Net Unrealized Appreciation (Depreciation) ($ Thousands) | ||||||||||
Barclays Bank PLC | Singapore Swap Offer Rate Fixing 6 Month | 2.54% | 12/14/2032 | SGD | 461 | $ | (11 | ) | ||||||||
Barclays Bank PLC | Singapore Swap Offer Rate Fixing 6 Month | 2.77% | 06/14/2032 | SGD | 2,220 | 31 | ||||||||||
Barclays Bank PLC | 1.71% | Singapore Swap Offer Rate Fixing 6 Month | 12/14/2022 | SGD | 804 | 4 | ||||||||||
Barclays Bank PLC | 1.86% | Singapore Swap Offer Rate Fixing 6 Month | 06/14/2022 | SGD | 3,830 | (44 | ) | |||||||||
Barclays Bank PLC | Brazil Interbank Deposit Rate | 8.27% | 01/02/2017 | BRL | 3,774 | (65 | ) | |||||||||
HSBC | Brazil Interbank Deposit Rate | 8.27% | 01/02/2017 | BRL | 2,330 | (40 | ) | |||||||||
HSBC | Brazil Interbank Deposit Rate | 8.31% | 01/02/2017 | BRL | 6,488 | (110 | ) | |||||||||
HSBC | Brazil Interbank Deposit Rate | 8.32% | 01/02/2015 | BRL | 6,369 | (5 | ) | |||||||||
|
| |||||||||||||||
$ | (240 | ) | ||||||||||||||
|
|
Total Return Swaps | ||||||||||||||||||||
Counterparty | Reference Entity/Obligation | Fund Pays | Fund Receives | Termination Date | Currency | Notional Amount (Thousands) | Net Unrealized Appreciation (Depreciation) ($Thousands) | |||||||||||||
Standard Chartered London | India Government Bond 8.07% 7/3/2017 | Cash Deposit Of Notional Amount | Price Return | 07/03/2017 | INR | 69,890 | $ | 29 | ||||||||||||
Standard Chartered London | India Government Bond 8.07% 7/3/2017 | Cash Deposit Of Notional Amount | Price Return | 07/03/2017 | INR | 199,110 | 73 | |||||||||||||
HSBC | Republic of Indonesia, 11.500%, 9/15/2019 | Cash Deposit Of Notional Amount | Price Return | 09/15/2019 | IDR | 33,200,000 | (138 | ) | ||||||||||||
HSBC | Republic of Indonesia, 11.500%, 9/15/2019 | Cash Deposit Of Notional Amount | Price Return | 09/15/2019 | IDR | 4,500,000 | (18 | ) | ||||||||||||
Standard Chartered London | India Government Bond 8.19% 01/16/2020 | Cash Deposit Of Notional Amount | Price Return | 01/16/2020 | INR | 124,000 | 33 | |||||||||||||
Standard Chartered London | India Government Bond 8.15% 06/11/2022 | Cash Deposit Of Notional Amount | Price Return | 06/11/2022 | INR | 96,000 | 64 | |||||||||||||
Standard Chartered London | India Government Bond 8.15% 06/11/2022 | Cash Deposit Of Notional Amount | Price Return | 06/11/2022 | INR | 37,000 | 25 | |||||||||||||
Standard Chartered London | India Government Bond 8.33% 09/07/2026 | Cash Deposit Of Notional Amount | Price Return | 07/09/2026 | INR | 113,000 | (11 | ) | ||||||||||||
HSBC | Republic of Indonesia, 8.375%, 9/15/2026 | Cash Deposit Of Notional Amount | Price Return | 09/15/2026 | IDR | 18,900,000 | (26 | ) | ||||||||||||
Standard Chartered London | Republic of Indonesia, 7%, 5/15/2027 | Cash Deposit Of Notional Amount | Price Return | 05/15/2027 | IDR | 5,800,000 | 3 | |||||||||||||
Standard Chartered London | Republic of Indonesia, 7%, 5/15/2027 | Cash Deposit Of Notional Amount | Price Return | 05/15/2027 | IDR | 3,500,000 | 11 | |||||||||||||
HSBC | Republic of Indonesia, 10.500%, 8/15/2030 | Cash Deposit Of Notional Amount | Price Return | 08/15/2030 | IDR | 29,500,000 | (5 | ) | ||||||||||||
Standard Chartered London | Republic of Indonesia, 10.5%, 8/15/2030 | Cash Deposit Of Notional Amount | Price Return | 08/15/2030 | IDR | 10,300,000 | (18 | ) | ||||||||||||
HSBC | Republic of Indonesia, 8.250%, 6/15/2032 | Cash Deposit Of Notional Amount | Price Return | 06/15/2032 | IDR | 13,100,000 | (3 | ) | ||||||||||||
Standard Chartered London | Republic of Indonesia, 8.25%, 6/15/2032 | Cash Deposit Of Notional Amount | Price Return | 06/15/2032 | IDR | 6,600,000 | (6 | ) | ||||||||||||
Standard Chartered London | Republic of Indonesia, 6.625% 05/15/2033 | Cash Deposit Of Notional Amount | Price Return | 05/15/2033 | IDR | 14,000,000 | (14 | ) | ||||||||||||
HSBC | Republic of Indonesia, 6.625% 05/15/2033 | Cash Deposit Of Notional Amount | Price Return | 05/15/2033 | IDR | 5,000,000 | (2 | ) | ||||||||||||
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$ | (3 | ) | ||||||||||||||||||
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For the six months ended March 31, 2013, 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 period.
Percentages are based on a Net Assets of $1,243,070 ($ Thousands).
* | Rate shown is the 7-day effective yield as of March 31, 2013. |
** | Non income producing security. |
† | Investment in Affiliated Security. |
(1) | In U.S. Dollars unless otherwise indicated. |
(A) | Securities considered illiquid. The total market value of such securities as of March 31, 2013 was $29,509 ($ Thousands) and represented 2.4% of Net Assets. |
(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) | Step Bonds — The rate reflected on the Schedule of Investments is the effective yield on March 31, 2013. The coupon on a step bond changes on a specified date. |
(D) | Variable Rate Security — The rate reported on the Schedule of Investments is the rate in effect as of March 31, 2013. |
(E) | Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase. |
(F) | Security is when-issued. |
(G) | Security in default on interest payments. |
(H) | This security or a partial position of this security is on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $1,364 ($ Thousands) (See Note 8). |
(I) | 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, 2013 was $1,427 ($ Thousands). |
ARS — Argentine Peso
BRL — Brazilian Real
BUBOR — Budapest Interbank Offered Rate
CLN — Credit Linked Note
CLP — Chilean Peso
CNH — Chinese Yuen (Offshore)
CNY — Chinese Renminbi
COP — Colombian Peso
CZK — Czech Koruna
DEM — German Mark
EUR — Euro
GBP — British Pound Sterling
HUF — Hungarian Forint
IDR — Indonesia Rupiah
ILS — Israeli Shekel
INR — India Rupee
KRW — Korean Won
MTN — Medium Term Note
MXN — Mexican Peso
MYR — Malaysian Ringgit
NGN — Nigerian Naira
PEI — Peruvian Inca
PHP — Philippine Peso
PIK — Payment-in-Kind
PLC — Public Limited Company
PLN — Polish Zlotty
RON — Romanian Leu
RUB — Russian Ruble
Ser — Series
SGD — Singapore Dollar
SPC — Segregated Portfolio Company
THB — Thai Baht
TRY — Turkish Lira
USD — U.S. Dollar
ZAR — South African Rand
14 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
Schedule of Investments (Unaudited)
Emerging Markets Debt Fund
March 31, 2013
The following is a summary of the inputs used as of March 31, 2013, 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 | $ | — | $ | 1,123,576 | $ | — | $ | 1,123,576 | ||||||||
Convertible Bonds | — | 1,054 | — | 1,054 | ||||||||||||
Loan Participations | — | 1,240 | 15,722 | 16,962 | ||||||||||||
Affiliated Partnership | — | 1,427 | — | 1,427 | ||||||||||||
Time Deposits | — | 155,524 | — | 155,524 | ||||||||||||
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Total Investments in Securities | $ | — | $ | 1,282,821 | $ | 15,722 | $ | 1,298,543 | ||||||||
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Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Forwards Contracts* | $ | — | $ | 1,657 | $ | — | $ | 1,657 | ||||||||
Interest Rate Swaps* | — | (240 | ) | — | (240 | ) | ||||||||||
Total Return Swaps* | — | (3 | ) | — | (3 | ) | ||||||||||
Purchased Options | — | 677 | — | 677 | ||||||||||||
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Total Other Financial Instruments | $ | — | $ | 2,091 | $ | — | $ | 2,091 | ||||||||
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Global Bonds | Loan Participations | |||||||
Beginning balance as of October 1, 2012 | $ | 94 | $ | 16,874 | ||||
Accrued discounts/premiums | — | 15 | ||||||
Realized gain/(loss) | — | (257 | ) | |||||
Change in unrealized appreciation/(depreciation) | — | (64 | ) | |||||
Purchases | — | — | ||||||
Sales | — | (846 | ) | |||||
Transfer into Level 3 | — | — | ||||||
Transfer out of Level 3 | (94 | ) | — | |||||
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Ending balance as of March 31, 2013 | $ | — | $ | 15,722 | ||||
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* | Forwards contracts and swaps are valued at the unrealized appreciation/(depreciation) on the instrument. |
(1) | Of the $15,816 ($ Thousands) in Level 3 securities as of March 31, 2013, $7,493 ($ Thousands) or 0.6% 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. |
For the six months ended March 31, 2013, there were no transfers between Level 1 and Level 2 assets and liabilities.
For the six months ended March 31, 2013, there were no transfers between Level 2 and Level 3 assets and liabilities.
Amounts designated as “—” are $O or have been rounded to $O.
The accompanying notes are an integral part of the financial statements.
15 | SEI Institutional International Trust / Semi-Annual Report / March 31, 2013 |
Table of Contents
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 Investment Company Act of 1940 (the “1940 Act”)) are effective, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 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 1940 Act) 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 Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)), 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.
Table of Contents
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: May 30, 2013
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: May 30, 2013
By | /S/ PETER A. RODRIGUEZ | |
Peter A. Rodriguez, Controller & CFO |
Date: May 30, 2013