KNOWLEDGE CENTRE

You’ll turn to the Knowledge Center again and again for credible, authoritative analysis, extending beyond the “what” to the “how.”

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  • Jul
    23
    2014

    The Ongoing Conflict in Eastern Ukraine

    The situation in eastern Ukraine has continued to deteriorate, and resolution remains a long way off. It’s not yet clear if the recent downing of a civilian aircraft will serve to escalate or de-escalate the conflict. Our Funds remain well diversified, and both SEI and its managers are watching developments closely.

    [... More]

  • Jul
    23
    2014

    Russia - Balancing the Risks against the Realities

    Political upheaval in Ukraine has brought Russia into diplomatic conflict with the U.S. and the European Union. Developments on the ground indicate a very complicated situation that could take a long time to resolve. The situation provides a real-time example of the complex risks global investment managers must evaluate. [... More]

  • Jul
    23
    2014

    Behavioural Finance: An Introduction to Human Error

    Paul Samuelson’s 1941 Ph.D. dissertation on economics, grandly titled The Foundation of Economic Analysis, changed the standard for analysis of economics by incorporating mathematical analysis in economic theory. But, in order for Samuelson’s math to work, he had to make assumptions and generalisations about the way in which people behaved, both in isolation and when part of a social group. 

    [... More]

  • Jul
    17
    2014

    Video: Q2 2014 Global Economic Market Review

    Kevin Barr, Head of SEI’s Investment Management Unit, gives a quarterly update on the global financial markets and how they impact our strategies. The review touches on the MSCI All Country World index and leading sectors for the quarter. [... More]

  • Jul
    14
    2014

    SEI Sees Value in Emerging Europe

    Emerging market equity valuations have fallen well below those of most developed markets. With a couple of exceptions, emerging Europe is especially attractive compared to other markets and its own history. In response, the SEI Global Unconstrained Alpha Equity Fund (the “Fund”) is allocating to a specialist manager in that region.

    [... More]

  • Jul
    12
    2014

    Second Quarter 2014 Market and Performance Update

    Uneven worldwide economic growth has resulted in global monetary policy at various stages of ebb and flow. Global inflation may begin to weigh on accommodative central banking. Most developed-market equities continue to see earnings growth. A turnaround in Europe is one of the keys to global market performance in the months ahead.

    [... More]

  • Jun
    24
    2014

    Where are Active ETFs Headed?

    While some still regard exchange traded funds (ETFs) as passive, beta-indexing tools for basic market exposure, the rise of active management in the ETF space may well be the industry’s next evolutionary step. [... More]

  • Jun
    5
    2014

    May 2014 Monthly Market Commentary

    Economic growth showed measured improvement globally, and inflation remained below target in most regions. Most major bond markets—U.S., U.K., Japan and the eurozone—saw government bond yields fall, while global equity markets were again positive. While not as robust early in 2014 as they were last year, we believe equities have held up quite well in the face of political tensions and emerging-market growth concerns. [... More]

  • Apr
    24
    2014

    Efficiency is in the Eye of the Beholder

     A careful definition of both risk and reward is at the heart of SEI’s strategic asset-allocation process.
    We adopt a total portfolio approach, which gives the asset allocation process the degrees of freedom necessary to harness the full power of diversification. This approach employs a flexible optimisation framework, where several perspectives—including forward-looking assumptions and empirical data—and several types of efficiency metrics influence the overall asset allocation. By using a more adaptable optimisation framework, including alternatives to the mean-variance framework, and a total portfolio approach, investors’ goals and attitudes about risk can be reflected in the portfolio construction.

    [... More]

  • Apr
    22
    2014

    Annual Market Commentary - March 2014

    For the twelve month period ending 31 March, global high-yield debt performed particularly well, while emerging-markets debt and global government bonds suffered declines. Despite recent volatility, especially within emerging markets, the MSCI AC World Index remains near an all-time high.

     

    [... More]

  • Apr
    21
    2014

    Addressing Global Regulatory Challenges

    Today's economic and regulatory climate has placed a tremendous burden on investment managers to provide increased financial reporting and transparency to both regulators and investors. [... More]

  • Apr
    16
    2014

    Video: Q1 2014 Global Economic Market Review

    The first quarter started off with significant declines in most developed markets. Much of February was spent regaining lost ground. By the end of March, slow economic improvement and ongoing central bank stimulus efforts helped equity markets close higher for the quarter. Despite the volatility, investors returned to the markets. [... More]

  • Apr
    9
    2014

    Quarterly Market Commentary - First Quarter 2014

    •Optimism continued in advanced economies, while emerging economies faced multiple challenges
    •Easing of inflation pressures around the world should keep global monetary policies accommodative.
    •Global equities reached positive territory by quarter end, while fixed income gained as interest rates generally fell.

    [... More]

  • Apr
    8
    2014

    An Economic Thaw, but a New Cold War

    Global stock markets bounced higher following a brief dip in the latter part of January, with the U.S. leading the way. The ability of equities to quickly overcome periodic stumbles (in the U.S. and other developed markets, at least) underscores investors’ willingness to assume risk even when economic and geopolitical uncertainties are on the rise. The fact that developed market equity pullbacks remain brief and shallow suggests that the rotation out of cash and fixed-income assets and into stocks is still very much in play.

    [... More]

  • Mar
    26
    2014

    Reaching the Retirement Market with a CIT

    Placing Collective Investment Trust (CIT) assets within Defined Contribution Plans is a rising trend that is expected to continue growing at a rate of about 13% to 18% per year. In this webinar, learn about the advantages of CITs and operational considerations for launching entering this market.

    [... More]

  • Mar
    25
    2014

    FATCA: What Managers Need to Know

    With the initial FATCA deadline approaching, managers may be underestimating the amount of time and resources they will need to fulfill the requirements. [... More]

  • Mar
    10
    2014

    2014 February Monthly Market Commentary

    Economic data remained mixed in the U.S., despite some positive forward-looking indicators. Ongoing strength was seen in the U.K. and Japan, along with pockets of both resilience and weakness in Europe. Global bond yields were generally steady in the month following a resetting of levels in January. Global equity markets strongly rebounded as investor optimism was particularly strong across European markets. With positive economic growth in Europe and solid earnings reports from U.S. companies, there is plenty of optimism that 2014 will be a decent year.

    [... More]

  • Mar
    4
    2014

    Escalating Turmoil in Ukraine

    The Russian-backed President of Ukraine has been ousted. Russia has significantly expanded its military presence in the Crimea region in southeastern Ukraine. SEI Funds have little direct exposure to Ukraine and modest exposure to Russia.

    [... More]

  • Feb
    18
    2014

    Client Service: What it Takes to Walk the Talk

    It’s a truism in our industry that the quality of client service is critical to investor satisfaction and to investment managers’ competitiveness.  How are today's managers measuring up?

    [... More]

  • Feb
    10
    2014

    January 2014 Monthly Market Commentary

    The monetary policies of global central banks remain accommodative and are expected to continue as such, while global growth builds momentum. Concerns related to the U.S. Federal Reserve tapering of bond purchases, sustainability of corporate profits and Chinese output resulted in a pullback in global equities, while global fixed income gained. SEI does not believe the elements of a more serious equity bear market are in place. The most important drivers of stock-market performance in our framework are still flashing neutral-to-positive signals.

    [... More]

  • Jan
    28
    2014

    Volatility is...Normal

    Concerns surrounding the pace of Chinese growth, the impact of reduced quantitative-easing stimulus and the health of corporate earnings culminated in a sudden shift of investor sentiment last week. SEI is maintaining its favourable view of emerging equities, as we believe catalysts will materialise that should improve the outlook for the asset class. While emerging and developed equities have struggled out of the gate in 2014, we do not believe the elements of a more serious equity bear market are in place.

    [... More]

  • Jan
    21
    2014

    2013 Annual Market Commentary

    The generally positive sentiment that prevailed at the end of 2012 extended into January 2013. The last-minute (and much needed) passage of the U.S. fiscal cliff legislation on 1 January helped to maintain the encouraging tone. After an optimistic January, February’s mood was marred by the sequestration in the U.S., a disappointing election result in Italy and news of a credit rating downgrade of U.K. sovereign debt. March was dominated by events in the eurozone and Cyprus in particular. As the month drew to an end – and after drama-filled negotiations – the Cypriot government agreed to a restructuring of the nation’s banks in order to qualify for a €10 billion bailout from the European Union and the International Monetary Fund. March finished on a positive note, as the U.S. Congress passed an extension to the nation’s debt ceiling with little fuss or brinksmanship.

    [... More]

  • Jan
    10
    2014

    Understanding AIFMD and Gaining a Passport to the European Market

    SEI, DMS Offshore Investment Services, Dillon Eustace and KPMG collaborated on this panel discussion to present insight, legal and tax considerations, and timeframes for AIFMD compliance.

    [... More]

  • Jan
    7
    2014

    Fourth Quarter 2013 Market Commentary

    Global central bank policies remained accommodative to close the year, even as the U.S. offered insight into a plan for reducing its economic stimulus efforts in the New Year. Led by developed markets, global equities experienced robust performance for the period, with positive results across all equity sectors. Rising yields kept global bond markets subdued. Government bonds lagged the rest of the fixed-income market.

    [... More]

  • Dec
    6
    2013

    November 2013 Monthly Market Commentary

    Accommodative monetary policies by most global central banks remain in place, with the European Central Bank taking additional steps to aid the eurozone’s recovery. Global fixed-income markets dipped, with emerging market debt retreating much more than investment-grade bonds.  Global equities generally gained, led by the traditional growth sectors of health care, information technology and consumer discretionary.

    [... More]

  • Nov
    7
    2013

    October 2013 Monthly Market Commentary

    Global central banks maintained accommodative monetary policies in an effort to stimulate economic growth. A temporary U.S. government shutdown did not derail the year-to-date rally in global equity markets. Global fixed-income and equity markets were positive for the month, with equity’s leadership supported by the rebound in emerging-market equities.

    [... More]

  • Nov
    6
    2013

    9 Key Considerations for European Managers Approaching the US Market

    With a hyper-competitive landscape and an investor-empowered marketplace, European investment managers may wish to consider being flexible and offering their strategies to US investors.  Here are some considerations to keep in mind...

    [... More]

  • Oct
    15
    2013

    Economic Outlook: The U.S. Federal Reserve Goes Taperless

    The Fed’s stimulus efforts will continue, but partisan politics in Washington are creating uncertainty. Europe’s economy is still struggling, while emerging markets look more attractive. 

    [... More]

  • Oct
    9
    2013

    Quarterly Market Commentary For the Three Months Ending 30 September 2013

    The quarter ended with the focus firmly on the U.S. and its upcoming fiscal negotiations.The global fixed-income and equity markets faltered in August, but gained for the quarter as a whole.

    [... More]

  • Sep
    17
    2013

    End of Service Benefits Report, 2013

    An informative report to help employers make informed decisions when managing the End of Service Benefits.

    [... More]

  • Sep
    10
    2013

    August 2013 Monthly Market Commentary

    The upcoming fiscal year-end and debt ceiling debate in the U.S., the possibility of military intervention in Syria and emerging-market woes overshadowed positive economic news this month. The recovery witnessed in the global fixed-income and equity markets in July faltered in August, with equities losing their edge. Global government bonds held up best, while emerging-market debt experienced a sharp selloff.

    [... More]

  • Sep
    9
    2013

    Key Course Adjustments for Breaking Through

    SEI's 2013 Private Equity survey explores how private managers can optimize their competitive advantage.

    [... More]

  • Sep
    3
    2013

    Risk Parity: The Concept

    Investors are typically counselled to diversify capital across asset classes in an effort to reduce risk. In light of this, it could be something of a surprise to learn just how concentrated a traditionally diversified portfolio may be in terms of its sources of risk.

    [... More]

  • Jul
    15
    2013

    Update on the Alternative Investment Fund Managers Directive

    On 21 July 2011, the EU Alternative Investment Fund Managers Directive (“AIFMD”) came into force with the result that each EU Member State must transpose it into national law no later than 22 July 2013.

    [... More]

  • Jun
    11
    2013

    Private Fund Managers and the Retail Alternatives Phenomenon

    A new wave of growth in alternative investing is underway, only this time it is encompassing the mainstream.

    [... More]

  • May
    31
    2013

    Cleared Swaps for Fund Advisors

    As the swaps markets continue to evolve and adapt to the new regulatory changes brought about by The Dodd-Frank Act, end-users will be required to develop new practices and new strategies to address risks.

    [... More]

  • Mar
    27
    2013

    Commentary: Proposed European Financial Transaction Tax

    The European Union (E.U.) has proposed a financial transactions tax on trading of stocks, bonds and derivatives. The aim is to recoup costs related to recent financial crises and help prevent future occurrences. Less than half of E.U. member countries have so far agreed to impose the FTT. While the FTT could have a number of various consequences, we do not view it as a serious threat to our business.

    [... More]

  • Mar
    26
    2013

    6 Ways Hedge Funds Need to Adapt Now

    In SEI's sixth annual hedge fund survey, institutional investors and fund managers speak out on what it takes to succeed in a tough climate.  Hedge funds may be facing challenges, but investors still need them and want them in their portfolios.

    [... More]

  • Dec
    4
    2012

    Seven Ways to Reinvention: Evolving and Enhancing the Funds of Hedge Funds Model

    While predictions of the fund of hedge funds (FoHFs) industry’s demise appear to be off the mark, the need for innovation is undeniable. Request our 20-page paper to find out more about the headwinds facing the FoHF industry, and where investor/consultant and manager responses diverge on key issues. [... More]

  • Oct
    19
    2012

    Webinar: Cross Border Distribution

    Industry experts discuss the critical issues alternative investment managers face in distributing their products outside their home countries. [... More]

  • Jul
    25
    2012

    Analysing the Complexities of Bank Debt Investments: Operational, Legal & Accounting Best Practices

    SEI partnered with HFMWeek to host a best practice panel on bank debt investments. [... More]

  • Feb
    23
    2012

    2012 SEI Global Hedge Fund Survey

    SEI's fifth annual survey of institutional hedge fund investors focuses on hedge fund allocations, objectives, performance, vehicle and strategy preferences. [... More]

  • Feb
    14
    2012

    Commentary: The Five Stages of Greece

    Greece’s experience as a member of the eurozone appears to be following a trajectory similar to the five stages of grief. We believe that the troubled nation is on the verge of the fifth stage — Acceptance — in the form of departure from the European Union. [... More]

  • Aug
    30
    2011

    2011 SEI Global Private Equity Survey

    The private equity market is finally exhibiting some vital signs, several years after activity came to a virtual standstill when cheap credit evaporated amid the global financial crisis. Fund managers and investors alike are relieved to
    see unmistakable signs of a recovery.  [... More]

  • Aug
    17
    2010

    Shariah Investing: Resilience Through Europe

    The past few weeks have been challenging for the market with uncertainty leading to high market volatility and increasing investor anxiety. It is those stocks with stronger financial positions and limited direct exposure to the financial crisis which should be better positioned to take advantage of the improving conditions [... More]

  • Mar
    12
    2010

    Shariah Investing: Focusing on Fundamentals

    If 2010 continues to see the market transition to a more fundamentals-driven recovery, Investment Managers – including Shariah Managers - with a track record of strong security selection capabilities may be in a better position than other managers to navigate such an environment. [... More]

  • Oct
    22
    2009

    Shariah Investing: Through Bull and Bear Markets?

    As discussed in our previous Shariah Investing reports, Shariah Indices have performed better than their conventional counterparts throughout the credit crisis. Over the last eleven credit-crisis challenged quarters, the MSCI World Islamic Index has delivered a good track record with lower volatility than the MSCI World Index. However, it is not just this outperformance in volatile times that speaks positively for Shariah Investing but its performance across a full market cycle. [... More]

  • May
    22
    2009

    Shariah Investing: Creating a Track Record

    We may have started 2009 with hopes of the markets stabilizing however volatility, as shown in Figure 2, remains high. As a result, we do not anticipate seeing the story of Shariah Investing out performance shifting to one of underperformance just yet. Islamic investors should continue to benefit from their lack of exposure to the volatile financial sector and erratic market swings. [... More]

  • Mar
    12
    2009

    Hedge Fund Regulatory Update: The Regulatory Wagons are Circling

    Regulators around the globe are circling the wagons. Some form of hedge fund and hedge fund advisor regulation appears inevitable in most major jurisdictions. This web seminar replay examines the current regulatory climate facing alternative investments. [... More]

  • Feb
    25
    2009

    A Market Gone Bad: How Are Pensions Around the World Responding?

    The Pension Management Research Panel recently conducted a global Quick Poll of pension executives from five markets, examining the extent of the impact last year had on organisations managing pensions and how they are responding to ongoing worldwide investment volatility. [... More]

  • Nov
    28
    2008

    Challenged by Commodities

    Since our last paper “Shariah Investing: Beating the Credit Crunch," the markets have proven challenging for Shariah Investing. The third quarter of 2008 saw dramatic falls in commodity and energy prices, whilst strangely, financials rallied. Islamic Finance’s dependence on these asset classes proved to be the Achilles heel. Whilst Shariah Investing continues to outperform the conventional through this credit crisis, it weathered a severe storm in Q3. [... More]

  • Jun
    30
    2008

    Shariah Investing: Beating the Credit Crunch

    We believe there is a strong argument to support the notion that Shariah investing is not the ‘poorer cousin’ of its conventional counterpart, but is a viable alternative approach. Whilst the behavior of Shariah funds at the individual fund level is no different to Conventional counterparts in that some will outperform and others will underperform, recently Islamic indices have highlighted that their low-debt, nonfinancial, social-ethical approaches work in market downturns. [... More]

  • Reinventing Buy-Side Infrastructure

    With unprecedented growth in the complexity and number of business and regulatory requirements affecting today’s asset managers, the sense of uncertainty facing the investment management industry makes long-term business forecasting incredibly difficult. [... More]

  • April 2014 Monthly Market Commentary

    Economic growth remained mixed across the globe, and inflation was tame in most regions. Most major bond markets—U.S., U.K., Japan and the eurozone—experienced a modest decrease in government bond yields. Global equity markets showed impressive resilience and were again positive. Global equity markets have not been as robust early in 2014 as they were last year, but we believe they have held up quite well in the face of political tensions and emerging-market growth concerns. [... More]

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