Effective January 30, 2023, we removed McKinley Capital Management LLC’s (McKinley) ACWI ex-US Growth strategy from the SIIT World Equity Ex-US Fund and SIIT Screened World Equity Ex-US Fund.

Rationale

We removed the strategy in order to consolidate assets among higher- conviction managers and also to increase the Fund’s exposure to momentum.

The assets in McKinley’s strategy were transferred to Lazard Asset Management’s All Country Ex-US 130/30 Momentum strategy.

We believe the removal of McKinley will improve the Fund’s manager line-up and enhance its exposure to the momentum alpha source.