The banking industry has come under pressure in recent days, driven by unrelated events in the United States and in Europe. Government intervention in both cases sought to calm markets.

Sector view

As of February 28, 2023, active weights within the banks or banking subindustries in our portfolios are as follows:

Outlook**
In general, our positioning in the Banking sector is driven by our preference for Value in our equity Funds and risk-adjusted yield in our fixed-income funds. While volatility in this space may remain elevated in the near term, we view recent government action both in the U.S. and Europe as meaningful steps to circumvent further liquidity concerns. SEI and our managers will continue to monitor the situation closely.
 

Important information

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. Positioning and holdings are subject to change. All information as of the date indicated. There are risks involved with investing, including possible loss of principal. This information should not be relied upon by the reader as research or investment advice, (unless you have otherwise separately entered into a written agreement with SEI for the provision of investment advice) nor should it be construed as a recommendation to purchase or sell a security. The reader should consult with their financial professional for more information.

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*The views contained herein are not to be taken as advice or a recommendation to buy or sell any investment in any jurisdiction. Our outlook contains forward-looking statements that are judgments based upon our current assumptions, beliefs and expectations. If any of the factors underlying our current assumptions, beliefs or expectations change, our statements as to potential future events or outcomes may be incorrect. We undertake no obligation to update our forward-looking statements.