SEI ASSET ALLOCATION TRUST
N-18F1, 1996-05-20
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<PAGE>   1


                                  FORM N-18f-1


                       SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C.  20549

                Notification of Election Pursuant to Rule 18f-1
                    under the Investment Company Act of 1940



                           SEI Asset Allocation Trust


                            NOTIFICATION OF ELECTION

         The undersigned registered open-end investment company hereby notifies
         the Securities and Exchange Commission that it elects to commit itself
         to pay in cash all redemptions by a shareholder of record as provided
         by Rule 18f-1 under the Investment Company Act of 1940.  It is
         understood that this election is irrevocable while such Rule is in
         effect unless the Commission by order upon application permits a
         withdrawal of this Notification of Election.


                                   SIGNATURES


         Pursuant to the requirements to Rule 18f-1 under the Investment
         Company Act of 1940, the Registrant has caused this notification of
         election to be duly executed on its behalf in the City of Wayne in the
         Commonwealth of Pennsylvania on the 20th day of May, 1996.

                                Signature:          SEI Asset Allocation Trust

                                       By:          /s/ David G. Lee
                                                    ----------------------
                                                    David G. Lee
                                                    President


Attest:  /s/ Todd Cipperman
         ------------------
         Name

         Vice President
         --------------
         Title







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