Lazard Asset Management LLC (Lazard) has been added to the SGMF Global Equity Fund (the Fund) as at 1 November 2017.

Addition of Lazard

What They Do

Lazard believes that equity-price inefficiencies stemming from investor emotion and bias can create investment opportunities as a result of the market mispricing a combination of a company’s intrinsic worth or value, growth potential, market sentiment and financial-quality investment factors.

How They Do It

Lazard’s investment team first evaluates companies using its own estimation universe, which is essentially a blend of the MSCI Investable Markets Indexes and the S&P Global Broad Market Indexes.

The team then constructs the portfolio, taking into consideration each company’s industry, sector, country/region and market capitalization whilst using two risk models to balance the risk/return trade-off. Lazard has long employed a software program that provides suggested trades, which the portfolio managers review for consistency with the strategy’s investment objectives. Each team member is assigned a specific geographic region to monitor on an ongoing basis, and may override certain recommendations of the model.

The Global portfolio consists of approximately 350 stocks whilst the Europe ex-U.K. portfolio consists of approximately 220.

Lazard maintains three levels of risk management for all portfolios independent of the investment team. Portfolio managers and analysts monitor risk within the portfolio on a real-time basis; the Global Risk Management team reviews all portfolios on a monthly basis; and the Compliance Department reviews transactions and guidelines.

About Lazard

Established in 1970 and headquartered in New York, New York, Lazard Asset Management LLC is a global asset-management firm with offices in eight countries. As at 31 December 2016, the firm had $179 billion in assets under management.
 

Glossary

Momentum: Momentum stocks are those whose prices are expected to keep moving in the same direction (either up or down) and are not likely to change direction in the short-term.

Quantitative: Quantitative analysis is based on computer-driven models.

IMPORTANT NOTE: The opinions and views contained in this document are solely those of SEI and are subject to change; descriptions relating to organisational structure, teams, and investment processes herein may differ significantly from those prescribed by underlying managers regarding their own investment houses and investments.



 

Important Information:

Past performance is not an indicator of future performance.

Investments in SEI Funds are generally medium- to long-term investments. The value of an investment and any income from it can go down as well as up. Investors may get back less than the original amount invested. Additionally, this investment may not be suitable for everyone. If you should have any doubt whether it is suitable for you, you should obtain expert advice.

No offer of any security is made hereby. Recipients of this information who intend to apply for shares in any
SEI Fund are reminded that any such application may be made solely on the basis of the information contained in the Prospectus. 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.

In addition to the normal risks associated with equity investing, international investments may involve risk of capital loss from unfavourable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Bonds and bond funds are subject to interest rate risk and will decline in value as interest rates rise. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. Narrowly focused investments and smaller companies typically exhibit higher volatility. SEI Funds may use derivative instruments such as futures, forwards, options, swaps, contracts for differences, credit derivatives, caps, floors and currency forward contracts. These instruments may be used for hedging purposes and/or investment purposes.

While considerable care has been taken to ensure the information contained within this document is accurate and up-to-date, no warranty is given as to the accuracy or completeness of any information and no liability is accepted for any errors or omissions in such information or any action taken on the basis of this information.

This information is issued by SEI Investments (Europe) Limited, 1^st Floor, Alphabeta, 14-18 Finsbury Square, London EC2A 1BR which is authorised and regulated by the Financial Conduct Authority. Please refer to our latest Full Prospectus (which includes information in relation to the use of derivatives and the risks associated with the use of derivative instruments), Key Investor Information Documents and latest Annual or Semi-Annual Reports for more information on our funds. This information can be obtained by contacting your Financial Adviser or using the contact details shown above.

SEI sources data directly from Factset, Lipper, and BlackRock, unless otherwise stated.