SEI Institutional Investments Trust is a mutual fund family that offers shares in separate investment portfolios (each, a Fund and together, the Funds). The Funds have individual investment goals and strategies and are designed primarily for institutional investors and financial institutions and their clients that have signed an Investment Management Agreement with SIMC (as discussed in the section below, entitled “Purchasing and Selling Fund Shares”).
Each Fund has its own investment goal and strategies for reaching that goal. Each Fund’s assets are managed under the direction of SIMC and, with the exception of the Real Return Fund, one or more Sub- Advisers, who manage portions of the Funds’ assets in a way that they believe will help the applicable Fund achieve its goals. SIMC acts as “manager of managers” for the Funds pursuant to an exemptive order obtained from the SEC and attempts to ensure that the Sub-Advisers comply with the Funds’ investment policies and guidelines of the Funds to which they provide sub-advisory services. SIMC also recommends the appointment of additional or replacement sub-advisers to the Funds’ Board of
Trustees. The exemptive order permits SIMC, with the approval of the Board, to retain unaffiliated sub- advisers for the Funds without submitting the sub-advisory agreements to a vote of the applicable Funds’ shareholders. Among other things, the exemptive order permits the non-disclosure of amounts payable by SIMC under such sub-advisory agreements. In addition, SIMC currently directly manages all
S E I / P R O S P E C T U S 145
18:14 | 15-17251-4.ca | Sequence: 1
of the assets of the Real Return Fund and, to a limited extent, SIMC may directly manage a portion of the assets of the Large Cap Diversified Alpha, High Yield Bond and Dynamic Asset Allocation Funds’ assets, in each case in a manner that it believes will help each Fund achieve its investment goals.
This prospectus describes the Funds’ principal investment strategies. However, each Fund may also invest in other securities, use other strategies and engage in other investment practices. These
investments and strategies, as well as those described in this prospectus, are described in detail in the Funds’ Statement of Additional Information (SAI).
The investments and strategies described in this prospectus are those that SIMC and the Sub-Advisers use under normal conditions. For temporary defensive or liquidity purposes during unusual economic or market conditions, each Fund may invest up to 100% of its assets in cash, money market instruments, repurchase agreements and other short-term obligations that would not ordinarily be consistent with a Fund’s objectives. In addition, for temporary defensive purposes, the Funds may invest all or a portion of their assets in common stocks of larger, more established companies and in investment grade fixed income securities. A Fund will do so only if SIMC or the Sub-Advisers believe that the risk of loss outweighs the opportunity for capital gains or higher income. During such a time, a Fund may not achieve its investment goal. Certain Funds may lend their securities to certain financial institutions in an attempt to earn additional income. Unless otherwise explicitly stated herein, the investment policies and restrictions of the Funds are not fundamental and may be changed by the Board, without shareholder approval. Further, the investment goals of the Long Duration, Long Duration Credit and Ultra Short Duration Bond Funds are not fundamental and may be changed by the Board without shareholder approval.
Each of the Dynamic Asset Allocation and Multi-Asset Real Return Funds invests in its own Subsidiary for the purpose of providing the respective Fund with exposure to the investment returns of global
commodities markets within the limitations of the federal tax requirements that apply to the Fund. For more information about applicable federal tax requirements, please see the “Taxes” section below. Each Subsidiary may invest in commodities, commodity-linked derivative instruments, including swap
agreements, commodity options, futures and options on futures, equity securities, fixed income securities, foreign securities, pooled investment vehicles, including those that are not registered pursuant to the 1940 Act, and other investments intended to serve as margin or collateral for a
Subsidiary’s derivative positions. To the extent that either of the Funds invests in a Subsidiary, it will be subject to the risks associated with such Subsidiary’s investments, which are discussed elsewhere in this prospectus.
To the extent a Subsidiary invests in commodity-linked derivative instruments, such Subsidiary will comply with the same asset coverage requirements that are applicable to either the Dynamic Asset Allocation Fund’s and Multi-Asset Real Return Fund’s transactions in such derivatives under the 1940 Act, as applicable. With respect to its investments, a Subsidiary will generally be subject to the same investment restrictions and limitations and generally follow the same compliance policies as the applicable Fund; however, a Subsidiary (unlike the applicable Fund) may invest a significant amount in commodity-linked swap agreements and other commodity-linked derivative instruments.
S E I / P R O S P E C T U S 146
18:14 | 15-17251-4.ca | Sequence: 2
CHKSUM Content: 34078 Layout: 58450 Graphics: No Graphics CLEAN
JOB: 15-17251-4 CYCLE#;BL#: 16; 0 TRIM: 7.25" x 9" COMPOSITE