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SEI ASSET ALLOCATION TRUST
DIVERSIFIED CONSERVATIVE INCOME FUND
DIVERSIFIED CONSERVATIVE FUND
DIVERSIFIED MODERATE GROWTH FUND
DIVERSIFIED GROWTH FUND
DIVERSIFIED U.S. STOCK FUND
SUPPLEMENT DATED JULY 1, 1996
TO THE PROSPECTUS DATED APRIL 1, 1996
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED
IN THE PROSPECTUS, AND SHOULD BE READ IN CONJUNCTION WITH SUCH PROSPECTUS.
At a meeting held on June 3-4, 1996, the Boards of Trustees of SEI
Institutional Managed Trust ("SIMT") and SEI International Trust ("SIT"), each
of which is an Underlying Trust of SEI Asset Allocation Trust (the "Trust"),
voted to make certain changes to the sub-advisers for SIMT and SIT. Effective
on June 17, 1996, Pilgrim Baxter & Associates, Ltd. ("Pilgrim Baxter"), was
replaced as a sub-adviser to the SIMT Small Cap Growth Portfolio by First of
America Investment Corporation ("First of America"). In addition, Schroder
Capital Management International Limited ("Schroder") was replaced as
sub-adviser to the SIT International Equity Portfolio by Yamaichi Capital
Management, Inc. ("Yamaichi") and Yamaichi Capital Management (Singapore)
Limited ("YCMS"), Seligman, Henderson Co. ("Seligman"), and Farrell Wako Global
Investment Management, Inc. ("Farrell Wako"). In connection with these
changes, "The Advisers and Sub-Advisers to the Underlying Portfolios" section
of the Trust's Prospectus is amended and all references to Pilgrim Baxter and
Schroder are hereby deleted and replaced with the following disclosure:
FARRELL WAKO GLOBAL INVESTMENT MANAGEMENT, INC.
Farrell Wako Global Investment Management, Inc. ("Farrell Wako") acts as a
sub-adviser of a portion of the SIT International Equity Portfolio, which is
also advised by SFM, Acadian, Morgan Grenfell Investment Services Limited,
Seligman and Yamaichi and YCMS. Farrell Wako, a Delaware corporation and a
wholly-owned subsidiary of Wako Securities, was founded in 1991, and is a
registered investment advisor in the U.S. and Japan. Farrell Wako currently
manages over $200 million. The principal address of Farrell Wako is 780 Third
Avenue, New York, New York 10017.
FIRST OF AMERICA INVESTMENT CORPORATION
First of America acts as a sub-adviser for a portion of the SIMT Small Cap
Growth Portfolio, which is also advised by SFM, 1838, Apodaca, BPAM,
Nicholas-Applegate Capital Management, Inc. and Wall Street Associates. First
of America is a Michigan Corporation that is a wholly-owned subsidiary of First
America Bank - Michigan, N.A., a national banking association, which is in turn
a wholly-owned subsidiary of First America Bank Corporation, a registered bank
holding company. First of America is registered as an investment adviser
under the Investment Advisers Act of 1940. First of America, together with its
predecessor, has been engaged in the investment advisory business since 1932.
First of America's principal business address is 303 North Rose Street, Suite
500, Kalamazoo, Michigan 49007.
As of March 31, 1996, First of America had approximately $13.7 billion in
assets under management. First of America's clients include mutual funds,
trust funds, and individually managed institutional and individual accounts.
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SELIGMAN HENDERSON CO.
Seligman acts as a sub-adviser of a portion of the SIT International Equity
Portfolio, which is also advised by SFM, Acadian, Farrell Wako, Morgan
Grenfell, and Yamaichi and YCMS. Seligman is a New York general partnership
and is structured as an equal partnership between J&W Seligman & Co. and
Henderson International Inc., a controlled affiliate of Henderson
Administration Group plc. Seligman was established in 1991, and manages over
$3 billion in global and international equity portfolios for U.S. institutional
and retail clients. The principal address of Seligman is 100 Park Avenue, New
York, New York 10017.
YAMAICHI CAPITAL MANAGEMENT, INC. AND YAMAICHI CAPITAL MANAGEMENT (SINGAPORE)
LIMITED
Yamaichi and YCMS jointly act as sub-adviser of a portion of the assets of the
SIT International Equity Portfolio, which is also advised by SFM, Acadian,
Farrell Wako, Morgan Grenfell and Seligman. Yamaichi is a New York Corporation
established in 1981 and YCMS is a Singapore corporation established in 1979;
each is a wholly-owned subsidiary of Yamaichi International Capital Management
Co., Ltd. ("YICM"). Yamaichi, YCMS and YICM are controlled by Yamaichi
Securities Co., Ltd., which is located in Tokyo, Japan. YCMS and its
affiliates manage approximately $22 billion worldwide. The principal address
of Yamaichi is 2 World Trade Center, Suite 9828, New York, New York 10048. The
principal address of YCMS is 138 Robinson Road, #19-01, Hong Leong Centre,
Singapore 068906.
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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
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SEI ASSET ALLOCATION TRUST
SUPPLEMENT DATED JULY 1, 1996, TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 1, 1996
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED
IN THE STATEMENT OF ADDITIONAL INFORMATION, AND SHOULD BE READ IN CONJUNCTION
WITH SUCH STATEMENT OF ADDITIONAL INFORMATION.
At a meeting held on June 3-4, 1996, the Boards of Trustees of SEI
Institutional Managed Trust ("SIMT") and SEI International Trust ("SIT"), each
of which is an Underlying Trust of SEI Asset Allocation Trust (the "Trust"),
voted to make certain changes to the sub-advisers for SIMT and SIT. Effective
on June 17, 1996, Pilgrim Baxter & Associates, Ltd. ("Pilgrim Baxter"), was
replaced as a sub-adviser to the SIMT Small Cap Growth Portfolio by First of
America Investment Corporation ("First of America"). In addition, Schroder
Capital Management International Limited ("Schroder") was replaced as
sub-adviser to the SIT International Equity Portfolio by Yamaichi Capital
Management, Inc. ("Yamaichi") and Yamaichi Capital Management (Singapore)
Limited ("YCMS"), Seligman, Henderson Co. ("Seligman"), and Farrell Wako Global
Investment Management, Inc ("Farrell Wako"). In connection with these changes,
the "Portfolio Managers of the Underlying Portfolios" section of the Trust's
Statement of Additional Information is amended and all references to Pilgrim
Baxter are hereby deleted and replaced with the following disclosure:
Mr. Roger Stamper, CFA, has primary responsibility for First of America's
portion of the SIMT Small Cap Growth Portfolio. Mr. Stamper is a Managing
Director of First of America and has been with First of America since 1988.
In addition, all references to Schroder are hereby replaced with the following
disclosure:
James L. Farrell, the chairman of Farrell Wako, manages its portion of the
assets of the SIT International Equity Portfolio. Mr. Farrell has 30 years of
experience in investment management and applied financial research and was
responsible for management of over $1 billion in equity assets.
Mr. William Garnett is primarily responsible for the day-to-day management and
investment decisions with respect to the SIT International Equity Portfolio's
assets allocated to Seligman. Mr. Garnett has more than 10 years' experience
in managing Japanese small cap equity securities. Mr. Iain Clark, Seligman's
chief investment officer, has ultimate responsibility for portfolio management.
Mr. Clark has more than 24 years experience, including 11 with Henderson
Administration Group plc.
Mr. Marco Wong, Senior Portfolio Manager, leads the management team for the
assets of the SIT International Equity Portfolio allocated to Yamaichi and
YCMS. Mr. Wong has been with YCMS since 1986.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
