REFINE YOUR INVESTMENT STRATEGIES

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1 seic.com REFINE YOUR INVESTMENT STRATEGIES with Managed Volatility Funds

2 SEI s Suite of Managed Volatility Funds Proven to Deliver SEI introduced what we believe was the first managed volatility fund of its kind the U.S. Fund in 2004, and followed with Global (2006) and Tax-Managed (2007) versions shortly thereafter. These three fully diversified, all-equity Managed Volatility portfolios cover all industries and business sectors. In every portfolio, SEI concentrates on limiting risk not just generating similar returns compared to its benchmark. A proven manager-of-managers framework employs leading investment managers to test, build, implement, and further develop our managed volatility approach. It also provides multiple levels of risk management through manager diversification and portfolio monitoring. As a pioneer and still-leading provider in the space, SEI is well positioned to help investors implement such a strategy, either on a stand-alone basis or as part of a diversified portfolio. Consider the results: The SEI Managed Volatility Funds have earned 4- and 5-star Morningstar ratings 3 All three funds have at least 20% lower return volatility than their respective benchmarks. They have delivered consistent investment performance while helping to limit downside risk. SEI U.S. Managed Volatility Fund Overview: The U.S. Managed Volatility Fund selects securities of U.S. companies of all capitalization ranges. Objective: Seeks capital appreciation with lower volatility than the broad U.S. equity market. LSV Asset Management Strong, deep value-oriented quantitative model 45% 25% 30% AJO, L.P. Proprietary, multifactor quantitative model seeks mispriced securities Disciplined quantitative methods U.S. Managed Volatility Fund 10/28/ % 16.35% 8.64% 9.36% 9.40% 12.09% Russell 3000 Index 12.56% 15.62% 7.94% 8.63% 12.26% 15.14%

3 SEI Global Managed Volatility Fund Overview: The Global Managed Volatility Fund includes securities of both U.S. and foreign companies of all capitalization ranges. Objective: Seeks capital appreciation with lower volatility than the overall global equity market. Disciplined quantitative methods 40% 60% Acadian Asset Management, LLC Diverse and innovative factor model Global Managed Volatility Fund 7/27/2006 MSCI World Index U.S. DOLLAR HEDGED 13.55% 11.14% N/A 4.25% 7.31% 9.66% 9.71% 11.28% 5.91% 10.37% 13.93% SEI Tax-Managed Managed Volatility Fund Overview: The Tax-Managed Managed Volatility Fund focuses on securities of all U.S. companies with the additional emphasis of employing advanced tax management techniques to minimize taxable income. LSV Asset Management Strong, deep value-oriented quantitative model 45% 25% AJO, L.P. Proprietary, multifactor quantitative model seeks mispriced securities Objective: Seeks capital appreciation with lower volatility than the broad U.S. equity market while minimizing taxable income. 30% Disciplined quantitative methods Tax-Managed Managed Volatility Fund 12/20/ % 15.85% N/A 9.19% 9.31% 12.98% After Tax Returns * 13.75% 14.66% 8.31% After Tax Returns ** 10.41% 12.70% 7.30% Russell 3000 Index 12.56% 15.62% 7.53% 12.26% 17.26% *After taxes on distributions of dividends and capital gains. **After taxes on distributions of dividends and capital gains and proceeds from the sale of fund shares. The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 800-DIAL-SEI. This data must be supplemented and used in conjunction with the most recent quarter-end performance found on the last page of this document.

4 1 Freedom Valley Drive P.O. Box 1100 Oaks, PA seic.com Definitions The MSCI World Index is a free float-adjusted market-capitalization-weighted index that is designed to measure the equitymarket performance of developed markets. It consists of the following 23 developed market country indices: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. The Russell 3000 Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market. deviation is a statistical measure of the distance a quantity is likely to lie from its average value. It is applied to the annual rate of return of an investment, to measure the investment s volatility (risk). deviation is synonymous with volatility, in that the greater the standard deviation the more volatile an investment s return will be. A standard deviation of zero would mean an investment has a return rate that never varies. 3 Morningstar as of 12/31/14. For each fund with at least a three year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receives 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Ratings metrics. SEI U.S. Managed Volatility Fund was rated against the following numbers of U.S.-domiciled large-cap value funds over the following time periods: 1,106 funds in the last three years, 975 funds in the last five years, and 666 funds in the last 10 years. With respect to these large-cap value funds, the U.S. Managed Volatility Fund received a Morningstar Rating of 3 stars, 5 stars and 5 stars for the three-, five- and 10-year periods, respectively. Global Managed Volatility Fund was rated against the following numbers of U.S.- domiciled world stock funds over the following time periods: 881 funds in the last three years and 688 funds in the last five years. With respect to these world stock funds, the Global Managed Volatility Fund received a Morningstar Rating of 4 stars and 5 stars for the three and five-year period, respectively. SEI U.S. Tax Managed Managed Volatility Fund was rated against the following numbers of U.S.-domiciled large-cap value funds over the following time periods: 1,106 funds in the last three years and 975 funds in the last five years. With respect to these large-cap value funds, the U.S. Tax Managed Managed Volatility Fund received a Morningstar Rating of 3 stars and 5 stars for the three- and five-year periods, respectively. Past performance is no guarantee of future results. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any stock in particular, nor should it be construed as a recommendation to purchase or sell a security, including futures contracts. For those SEI Funds which employ the manager of managers structure, SEI Investments Management Corporation (SIMC) has ultimate responsibility for the investment performance of the Funds due to its responsibility to oversee the sub-advisers and recommend their hiring, termination and replacement. SIMC is the adviser to the SEI Funds, which are distributed by SEI Investments Distribution Co. (SIDCO). SIMC and SIDCO are wholly owned subsidiaries of SEI Investments Company. To determine if the Funds are an appropriate investment for you, carefully consider the investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the Funds full and summary prospectuses, which can be obtained by calling DIAL-SEI. Read them carefully before investing. There are risks involved with investing, including loss of principal. Current and future portfolio holdings are subject to risks as well. Diversification may not protect against market risk. There is no assurance the objectives discussed will be met SEI AMD-US-014 (04/15)

5 SEI Managed Volatility Funds Quarterly Performance as of 9/30/2015 Fund date 1 Year 5 Year 10 Year Expenses Before Waivers Expenses After Waivers SIMT U.S. Managed Volatility Fund 10/28/ % 14.31% 7.78% 8.47% 1.22% 1.00% SIMT Global Managed Volatility Fund 7/27/ % 10.64% N/A 4.00% 1.23% 1.11% SIMT Tax-Managed Managed Volatility Fund 12/20/ % 13.88% N/A 8.13% 1.23% 1.00% After Tax Returns* 3.83% 12.72% N/A 7.34% After Tax Returns** 4.68% 11.08% N/A 6.48% *After taxes on distributions of dividends and capital gains. **After taxes on distributions of dividends and capital gains and proceeds from the sale of fund shares. The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 800-DIAL-SEI. Fee waivers are voluntary and may be discontinued at any time. Overall Morningstar Ratings as of 9/30/2015 SIMT U.S. Managed Volatility Fund (SVOAX) SIMT Global Managed Volatility Fund (SVTAX) SIMT Tax-Managed Managed Volatility Fund (TMMAX) Source: Morningstar as of 9/30/15. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Ratings metrics. SIMT U.S. Managed Volatility Fund (SVOAX) was rated against the following numbers of U.S.-domiciled large-cap value funds over the following time periods: 1211 funds in the last three years, 1071 funds in the last five years and 744 funds in the last ten years. With respect to these large-cap value funds, SVOAX received a Morningstar Rating of 5 stars, 5 stars and 5 stars for the three-, five-, and 10-year periods, respectively. SIMT Global Managed Volatility Fund (SVTAX) was rated against the following numbers of U.S.-domiciled world stock funds over the following time periods: 1001 funds in the last three years and 758 funds in the last five years. With respect to these world stock funds, SVTAX received a Morningstar Rating of 5 stars and 5 stars for the threeand five-year period, respectively. SEI Tax-Managed Managed Volatility Fund (TMMAX) was rated against the following numbers of U.S.- domiciled large-cap value funds over the following time periods: 1211 funds in the last three years and 1071 funds in the last five years. With respect to these large-cap value funds, TMMAX received a Morningstar Rating of 5 stars and 5 stars for the three- and five-year periods, respectively. This document supplements and must be used in conjunction with Refine Your Investment Strategies with Managed Volatility Funds SEI AMD-US-014S (10/15)

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