The SGMF High Yield Fixed Income Fund (“the Fund”) added Blackstone Inc’s (“Blackstone”) High Yield Corporate Bond strategy.

Investment philosophy and process

Blackstone’s credit investment strategy is designed to generate alpha through rigorous security selection, deliberately minimizing exposure to systematic risk. Rather than relying on traditional risk premia such as carry, quality, size, or liquidity, the team focuses on capturing excess returns from pricing inefficiencies between proprietary model valuations and market spreads.

Blackstone’s approach mirrors the discipline of traditional underwriting while eliminating subjective bias. The strategy maintains strict control over volatility and industry exposures relative to the benchmark, ensuring that performance is driven by corporate credit selection ultimately aiming to deliver consistent, risk-adjusted returns over time.

Central to the approach is a proprietary default probability model that estimates market-implied default risk. By integrating firm-level fundamentals with real-time market data, the model calculates fair value credit spreads for each issuer. This process allows Blackstone to identify undervalued, high-quality credits while avoiding overvalued or deteriorating names, which anchors performance in data-driven insights and disciplined execution.

Role in the Fund

Blackstone serves as a core high yield bond manager, leveraging a distinctive quantitative strategy grounded in fundamentals. Their structured and repeatable security selection process is designed to consistently capture alpha, potentially enhancing both the Fund’s return and its diversification profile.

About Blackstone

Blackstone is a global investment firm, primarily operating as the world's largest manager of alternative assets, which includes private equity, real estate, credit, and infrastructure funds. Within its credit platform, Blackstone Credit & Insurance, Blackstone is a leading investor across private and public credit markets including investment grade, high yield, direct lending, CLOs, and opportunistic strategies. As of June 30, 2025, Blackstone had USD $1.2T in assets under management.









Important information

This is a marketing communication. Please refer to the prospectus of the UCITS and the KIID before making a final investment decision. Currency fluctuations may cause returns to increase or decrease.

The Fund is actively managed.

This communication is provided on a confidential basis and does not constitute an offer to sell or an offer to buy. This document is not to be interpreted as tax, investment, or legal advice and is not contractually binding. In the event of any inconsistencies between this document and the legal documents of the Fund, the descriptions and terms in the Fund’s legal documents shall prevail.

Estimates, trends, targets, forecasts, illustrations or opinions are based on SEI’s subjective opinions only at the date of publication and are subject to change. SEI makes no representation or warranty as to the accuracy of any information contained herein.

Please refer to the Fund documents including the Prospectus and Key Investor Information Document (KIID) for more information. The Prospectus and KIID are available from Fund documents | SEI (seic.com) in English.

If the management company decides to terminate its arrangement for marketing the fund in any EEA country where it is registered for sale it will do so in accordance with the relevant implementation of the UCITS directive (2009/65/EC).

A summary of investor rights are available from Fund documents | SEI (seic.com) in English.

All information contained herein is as of 5 November 2024 unless otherwise indicated.

This document contains confidential information. Your acceptance of this document constitutes your agreement that you will not disclose, copy, or use the information for any other purpose than to assess the Fund, and that you will promptly return the document at the request of SEI Investments (Europe) Ltd.

Country Notice for the United Kingdom

This document is issued in the United Kingdom by SEI Investments (Europe) Ltd (“SIEL”), 1st Floor, Alphabeta, 14-18 Finsbury Square, London, EC2A 1BR (Company registration number 03765319), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority under Firm reference number 191713. This document is only directed at professional clients or eligible counterparties under the Financial Services Markets Act 2000 (Financial Promotion) Order 2005.

SEI Global Master Fund PLC is structured as an open-ended investment companies with variable capital and with segregated liability between its sub-funds and has been established and is authorised as an EEA UCITS (in accordance with the EU UCITS Directive) in Ireland. The Fund is a sub-fund of SEI Global Master Fund PLC. The Fund has been notified to the Financial Conduct Authority of the UK (the “FCA”) for the purposes of the temporary marketing permissions regime in the United Kingdom and therefore is considered to be a recognised collective investment scheme for the purposes of the Financial Services and Markets Act 2000 of the United Kingdom (“FSMA”).

Notice to Investors in the EEA

In the EEA, this Document is issued by SEI Investments (Europe) Ltd (“SIEL”), 1st Floor, Alphabeta, 14-18 Finsbury Square, London, EC2A 1BR (Company registration number 03765319), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority under Firm reference number 191713SEI Investments (Europe) Ltd.

In relation to each member state of the EEA (each a “Relevant State”), this Document may only be distributed to the extent that: (1) the certain share classes of the Fund are permitted to be marketed to professional investors in accordance with the UCITS Directive (2009/65/EC); or (2) this Document may otherwise be lawfully distributed (including at the initiative of the investor).

In relation to each Relevant State which, at the date of this Document, has not implemented the UCITS Directive, this Document may only be distributed to the extent that certain share classes may lawfully be offered in that Relevant State (including at the initiative of the investor).