Advisor Flipbooks

Discover SEI ® . SEI delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change, and help protect futures—for growth today and in the future. Actively managed ETFs may be subject to increased transaction costs. Active trading may increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate. Certain Strategies may use tax-management techniques such as minimizing portfolio turnover, selling securities with the least tax impact, opportunistically harvesting losses, and seeking to avoid wash sales. When harvesting losses from the sale of a holding, a Strategy may seek to avoid a wash sale while maintaining exposure to the desired asset class. A Strategy may do so through the purchase of a fund offered by other fund families (Secondary Fund). Upon expiration of the wash sale period, the Secondary Fund will be sold, which may result in a short term capital gain and the original fund will be repurchased. SIMC does not represent in any manner that the tax consequences described as part of its tax-management techniques and strategies will be achieved or that any of SIMCʼs tax-management techniques, or any of its products and/or services, will result in any particular tax consequence. The tax consequences of the tax-management techniques, including those intended to harvest tax losses, and other strategies that SIMC may pursue are complex and uncertain and may be challenged by the IRS. Neither SIMC nor its affiliates provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication cannot be used by you for the purpose of avoiding tax, penalties, and/or interest which may be imposed by the IRS or any other taxing authority; (ii) this communication was written to support the promotion or marketing of the matters addressed herein; and (iii) you should seek advice based on your particular circumstances from an independent tax advisor. Accordingly, Clients should confer with their personal tax advisors regarding the tax consequences of investing with SIMC and engaging in the tax-management techniques described herein (including the described tax-loss harvesting strategies) based on their particular circumstances. Clients and their personal tax advisors are responsible for how the transactions conducted in an account are reported to the IRS or any other taxing authority on the Clientʼs personal tax returns. SIMC assumes no responsibility for the tax consequences to any Client of any transaction. Dynamic for mutual funds means that subadvisors actively manage portfolios by making adjustments to the stocks they hold, allocating resources to different industries and sectors, and, in some instances, modifying primary factors influencing returns. Furthermore, these strategies incorporate specific products tailored to react to market conditions, thereby allowing for alterations in asset allocation based on embedded dynamics, such as Capital Stability. Dynamic shifts in positions occur at both the overall portfolio level and within specific asset classes. Dynamic for ETFs means that instead of implementing changes at the security level, we execute tactical trades that impact the overall asset allocation. These adjustments, akin to the product dynamics inherent in multi-asset funds, are strategic in nature. These tactical trades realign the asset allocation to capitalize on perceived opportunities in the market. This information may not be applicable to all programs offered through Investment Adviser Services. © 2025 SEI ® 250396.04 IAS 08/25 1 Freedom Valley Drive P.O. Box 1100 Oaks, PA 19456 610-676-1000 seic.com

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