Issue link: https://info.seic.com/i/1445430
SEI Portfolio Update: First Quarter 2023 | SEI Daily Income Trust (SDIT) SDIT-6 Portfolio Manager: Rich Bamford The yield quotation more closely reflects the current earnings of the Fund than the total-return quotation. You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. The performance data shown is past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. For performance data current to the most recent month end, please call 1-800-DIAL-SEI. Fee waivers are contractual and in effect until 5/31/23 Q. HOW DID THE FUND PERFORM AGAINST ITS INDEX FOR THE QUARTER, RICH? A. The Fund returned 1.04% versus 1.07% for the ICE BofA US 3-Month Treasury Bill Index. Q. WHAT EFFECT DID YOUR POSITIONING AT THE END OF LAST QUARTER HAVE ON PERFORMANCE? A. During the quarter, the Fund performed in line with the benchmark and within the objectives of principal preservation and liquidity. The Federal Reserve (Fed) increased its federal funds target rate by 25 bps in January, and then followed with an additional 25 basis points of tightening in March in order to combat persistently high inflation. The statement released from the March Federal Open Market Committee (FOMC) meeting did present a more dovish tone from the Fed when compared with prior meetings given heightened risks in the banking sector, suggesting that the Fed is getting closer to the top of its rate-hiking cycle. Q. WHAT IS YOUR OUTLOOK GOING FORWARD AND HOW IS THIS REFLECTED IN THE FUND POSITIONING? A. There were minimal changes to Fund positioning during the quarter. It invests only in Treasury securities. It retained shorter weighted-average maturity in anticipation of the opportunity to reinvest at higher yields following rate hikes. BlackRock remains guarded in their investment approach in part due to increased economic uncertainty resulting from a combination of the conflict in Ukraine and elevated inflation. Furthermore, BlackRock has been selective in extension trades. As the Fed continues to get closer to the top of its rate-hiking cycle, it will begin to evaluate the entire yield curve for meaningful extension. INVESTMENT STRATEGY: The Treasury II Fund seeks to preserve principal value and maintain a high degree of liquidity while providing current income. The Fund invests exclusively in U.S. Treasury obligations. Consistent with the 1940 Investment Company Act's requirements for money market mutual funds, the Fund seeks securities with acceptable maturities that are marketable, liquid and offer competitive yields. Treasury II Fund (SDIT) Apr-23 ###### Jan-00 Jan-00 Feb-00 Jan-00 Jan-00 Feb-00 Feb-00 Feb-00 Jan-00 Fund Since Inception 1 Mo 3 Mo Ytd Qtr 1 Yr 3 Yr 5 Yr 10 Yr Incept 2022 2021 as of 03/31/2023 as of 03/31/2023 as Performance Performance Performance Cumulative Total Return Annualized Total Return Calendar Funds' Summary Performance Trend Report SEI Daily Income Trust - Class F (formerly Class A) Money Market Funds #VALUE! #N/A Expenses before waivers (%) = Expenses after waivers (%) = SDIT Government Fund 10/27/95 0.37 1.02 1.02 1.02 2.39 0.81 1.21 0.72 2.15 1.36 0.01 ICE BofA US 3-Month Treasury Bill Index (USD) 0.43 1.07 1.07 1.07 2.50 0.89 1.41 0.84 2.08 1.46 0.05 7 Day Current Yield (%) = 4.57 Unsubsidized Yield (%) = 4.33 Expenses before waivers (%) = 0.44 Expenses after waivers (%) = 0.20 SDIT Government II Fund 12/9/85 0.38 1.05 1.05 1.05 2.44 0.84 1.24 0.74 3.15 1.39 0.01 ICE BofA US 3-Month Treasury Bill Index (USD) 0.43 1.07 1.07 1.07 2.50 0.89 1.41 0.84 0.00 1.46 0.05 7 Day Current Yield (%) = 4.63 Unsubsidized Yield (%) = 4.35 Expenses before waivers (%) = 0.48 Expenses after waivers (%) = 0.20 SDIT Treasury II Fund 7/28/89 0.37 1.04 1.04 1.04 2.40 0.83 1.23 0.73 2.52 1.36 0.02 ICE BofA US 3-Month Treasury Bill Index (USD) 0.43 1.07 1.07 1.07 2.50 0.89 1.41 0.83 0.00 1.46 0.05 7 Day Current Yield (%) = 4.45 Unsubsidized Yield (%) = 4.16 Expenses before waivers (%) = 0.49 Expenses after waivers (%) = 0.20 The performance data shown is past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment an investor's shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. data current to the most recent month end, please call 1-800-DIAL-SEI. You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. The yield quotation more closely reflects the current earnings Apr-23 ###### Jan-00 Jan-00 Feb-00 Jan-00 Jan-00 Feb-00 Feb-00 Feb-00 Jan-00 Fund Since Inception 1 Mo 3 Mo Ytd Qtr 1 Yr 3 Yr 5 Yr 10 Yr Incept 2022 2021 Bond Funds SDIT GNMA Fund 3/20/87 2.15 2.72 2.72 2.72 -4.72 -3.24 -0.02 0.74 4.96 -10.98 -1.95 Bloomberg GNMA Index (USD) 1.88 2.59 2.59 2.59 -4.48 -3.17 0.26 0.87 5.32 -10.76 -1.45 Expenses before waivers (%) = 0.62 Expenses after waivers (%) = 0.62 SDIT Short-Duration Government Fund 2/17/87 1.33 1.49 1.49 1.49 -0.23 -1.01 0.77 0.59 3.84 -4.21 -1.14 ICE BofA 1-3 Year US Treasury Index (USD) 1.60 1.55 1.55 1.55 0.20 -0.81 1.11 0.81 3.97 -3.65 -0.55 Expenses before waivers (%) = 0.56 Expenses after waivers (%) = 0.48 SDIT Ultra Short Duration Bond Fund 9/28/93 0.40 1.22 1.22 1.22 1.39 1.28 1.37 1.15 2.77 -0.86 0.01 0.75 1.23 1.23 1.23 1.45 0.33 1.40 0.93 2.71 -0.40 0.00 Expenses before waivers (%) = 0.61 Expenses after waivers (%) = 0.38 The performance data shown is past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment an investor's shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. data current to the most recent month end, please call 1-800-DIAL-SEI. as of 03/31/2023 as of 03/31/2023 as Bloomberg Short US Treasury 9-12 Month Index (USD) Performance Performance Performance Cumulative Total Return Annualized Total Return Calendar Funds' Summary Performance Trend Report SEI Daily Income Trust - Class F (formerly Class A) Apr-23 ###### Jan-00 Jan-00 Feb-00 Jan-00 Jan-00 Feb-00 Feb-00 Feb-00 Jan-00 Fund Since Inception 1 Mo 3 Mo Ytd Qtr 1 Yr 3 Yr 5 Yr 10 Yr Incept 2022 2021 Bond Funds SDIT GNMA Fund 3/20/87 2.15 2.72 2.72 2.72 -4.72 -3.24 -0.02 0.74 4.96 -10.98 -1.95 Bloomberg GNMA Index (USD) 1.88 2.59 2.59 2.59 -4.48 -3.17 0.26 0.87 5.32 -10.76 -1.45 Expenses before waivers (%) = 0.62 Expenses after waivers (%) = 0.62 SDIT Short-Duration Government Fund 2/17/87 1.33 1.49 1.49 1.49 -0.23 -1.01 0.77 0.59 3.84 -4.21 -1.14 ICE BofA 1-3 Year US Treasury Index (USD) 1.60 1.55 1.55 1.55 0.20 -0.81 1.11 0.81 3.97 -3.65 -0.55 Expenses before waivers (%) = 0.56 Expenses after waivers (%) = 0.48 SDIT Ultra Short Duration Bond Fund 9/28/93 0.40 1.22 1.22 1.22 1.39 1.28 1.37 1.15 2.77 -0.86 0.01 0.75 1.23 1.23 1.23 1.45 0.33 1.40 0.93 2.71 -0.40 0.00 Expenses before waivers (%) = 0.61 Expenses after waivers (%) = 0.38 The performance data shown is past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment an investor's shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. data current to the most recent month end, please call 1-800-DIAL-SEI. as of 03/31/2023 as of 03/31/2023 as Bloomberg Short US Treasury 9-12 Month Index (USD) Performance Performance Performance Cumulative Total Return Annualized Total Return Calendar Funds' Summary Performance Trend Report SEI Daily Income Trust - Class F (formerly Class A)