Issue link: https://info.seic.com/i/1518273
6 SEI Managed Account Solutions Separately Managed Accounts: Go beyond personalization. There are key differences between separately managed accounts and mutual funds, and understanding them is essential. SMAs enable a wide range of investment disciplines to be used to create a portfolio that's customized to an investor's goals, time horizon, and risk tolerance. The results can deliver a range of benefits, including: Choice Investors benefit from access to a universe of investment strategies and the power to select one focused strategy or to diversify across several asset classes. Transparency and direct ownership Rather than holding a share in a pooled vehicle like a mutual fund or ETF, investors own the individual stocks and bonds in their accounts. Securities are purchased and sold for that individual account. Personalization SMAs and UMAs offer the ability to truly personalize all aspects of your portfolio to align with an investor's priorities and needs. Control SMAs and UMAs can be funded with cash or investors can use existing securities to fund their accounts. This "in-kind transition" enables investors to shift their portfolios to a new strategy without the tax consequences of liquidating highly appreciated securities. Tax optimization Direct ownership of securities means clients can benefit from ongoing, systematic tax-loss harvesting. Capital losses realized in an SMA provide the opportunity to offset gains realized elsewhere in the portfolio, plus other strategies like deferring gains and tax-aware trading help to enhance after-tax return.