Advisor Flipbooks

©2023 SEI 43 Disclosures & Important Information For Financial Intermediary Use Only. Not for Public Distribution. Source for Taxes Saved and After-Tax Alpha: Parametric Portfolio Associates® serves as tax overly manager for the MAS Composite presented herein. All equity tax managed accounts are included in the Composite. Accounts are included in their first full quarter of management. Accounts are excluded after their last full quarter of management. Terminated accounts are included for all full periods prior to termination. This Composite includes all taxable accounts that funded with cash, have no security restrictions, or fixed income securities. Composite returns are market-value weighted using beginning period values. For after-tax alpha figures, composite performance is compared to the third-party active manager target portfolio performance on a pre-tax and after-tax basis solely to illustrate the under- or over-performance attributed to tax management. Both Composite and target performance include the reinvestment of dividends, income and other distributions but exclude transaction costs and advisory fees. The deduction of such fees and expenses would reduce returns. The target portfolio performance is hypothetical; calculations do not reflect actual trading and may not reflect material economic or market factors, and therefore may not be relied upon for investment decisions. Target portfolio returns do not take individual investor taxes into consideration. Hypothetical performance results are generally prepared with the benefit of hindsight. Simulated trading does not involve financial risk and cannot completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. Because there are no actual trading results against which to compare, investors should be particularly wary of placing undue reliance on these hypothetical results. Investment Screens: Investment screens are provided by Institutional Shareholder Services Inc. and MSCI ESG Research LLC. Additional information is available upon request. SEI's investment screen vendors can vary from other ESG vendors and advisors with respect to its methodology for constructing screens, including the factors and data that are collected and applied as part of the process. As a result, screens may differ from or contradict the conclusions reached by other ESG vendors or advisors with respect to the same issuers. The selection of a screen will likely contribute to performance deviations from the original strategy. The above descriptions are intended only to provide an investor with a general overview of each screen. A screen may consist of factors that further define the universe of issuers subject to the screen, including factors related to revenue, ESG scoring, and the nexus to the screened sector or activity. For instance, a screen may only apply to issuers that (i) generate a certain level of revenue from the screened sector; or (ii) represent the lowest scoring companies in a particular sector (i.e. the bottom 5%). SEI's investment screens allow you to choose from individual screens, a combination of screens, or faith-based screens to avoid investing in securities that are not aligned with your values. Screen exclusions should be considered alongside your investment objectives, you time horizon and your investment risk tolerance. Using screens will likely contribute to performance deviations from the manager's original investment strategy. Applying a screen will permanently remove one or more securities selected by the manager from your portfolio. Equity portfolios will be adjusted pro-rata among the remaining securities in the Strategy. In fixed- income portfolios, the screened security will be replaced with an unrestricted security (if available), or the Strategy will be adjusted pro-rata among the remaining securities in the Strategy. If a screen in added after your portfolio has been invested, securities will be removed as described above, and may result in taxable gains if your portfolio is held in a taxable account. The application of investment screens may cause the manager to make or avoid certain investment decisions when it may be disadvantageous to do so. This means the accounts held in the program may underperform other similar investments that do no apply screens, and should be considered when making investment decisions.

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