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SEI DAILY INCOME TRUST
Money Market Portfolio
Prime Obligation Portfolio
Supplement dated June 8, 1995 to Prospectus dated May 31, 1995
At a meeting held on June 5, 1995, the Trustees of SEI Daily Income Trust
(the "Trust") met and approved the following changes to fundamental policies of
the Money Market and Prime Obligation Portfolios (each a "Portfolio" and
collectively, the "Portfolios").
1. Elimination of the fundamental policy that currently
requires each Portfolio to invest its assets solely in
securities listed in the Prospectus as appropriate
investments. The removal of this fundamental policy will
provide each Portfolio with the ability to modify its
universe of permitted investments to meet future
regulatory and market changes without shareholder
approval.
2. Elimination of the fundamental policy requiring the
Portfolios to invest in securities maturing in one year or
less and to maintain an average weighted maturity of 120
days. This elimination will allow each Portfolio to adopt
non-fundamental policies respecting the maturity of
securities purchased that conform to current law, and will
allow the Portfolios to invest in securities with a
maximum remaining maturity of 397 days.
3. Elimination of the fundamental policy requiring the Money
Market Portfolio to concentrate its investments in
obligations issued by the banking industry, consisting of
U.S. dollar denominated obligations of domestic banks and
U.S. branches of foreign banks. Currently, this
fundamental policy requires the Money Market Portfolio to
maintain at least one quarter of its assets in bank-issued
investments at all times. The elimination of this policy
will provide Wellington Management Company, the
Portfolio's investment adviser, with greater freedom to
purchase non-bank industry securities and allow it greater
flexibility to respond to market conditions. The Portfolio
will nonetheless have the right to concentrate in
obligations issued by the banking industry when market
conditions so warrant.
Shareholder approval of these changes is required and a Special Meeting of
Shareholders will be held on July 28, 1995.
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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
