<PAGE>
SEI INSTITUTIONAL MANAGED TRUST
High Yield Bond Portfolio
Institutional Class
Supplement dated June 6, 1995 to Prospectus dated January 31, 1995
On August 11, 1995, Shareholders of the High Yield Bond Portfolio (the
"Portfolio") will be asked to approve an investment advisory agreement with BEA
Associates ("BEA"). Shareholders are required to consider this investment
advisory agreement as a result of a transaction whereby the U.S. operations of
CS First Boston Investment Management ("CSFBIM"), the current adviser of the
Portfolio, were transferred and integrated into BEA. This asset transfer
resulted in an assignment and termination of the Investment Sub-Advisory
Agreement between SEI Financial Management Corporation ("SFM") and CSFBIM.
The proposed advisory agreement with BEA has the same terms, including
those relating to fees and expenses payable to BEA, as the previous agreement
with CSFBIM. Until such time as the shareholders approve the proposed advisory
agreement, BEA will not be compensated for services provided to the Portfolio.
No changes to the high yield investment philosophy or process employed in
the Portfolio have been enacted as a result of this ownership change, nor are
any material changes anticipated.
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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE>
SEI INSTITUTIONAL MANAGED TRUST
High Yield Bond Portfolio
Class D
Supplement dated June 6, 1995 to Prospectus dated January 31, 1995
On August 11, 1995, Shareholders of the High Yield Bond Portfolio (the
"Portfolio") will be asked to approve an investment advisory agreement with BEA
Associates ("BEA"). Shareholders are required to consider this investment
advisory agreement as a result of a transaction whereby the U.S. operations of
CS First Boston Investment Management ("CSFBIM"), the current adviser of the
Portfolio, were transferred and integrated into BEA. This asset transfer
resulted in an assignment and termination of the Investment Sub-Advisory
Agreement between SEI Financial Management Corporation ("SFM") and CSFBIM.
The proposed advisory agreement with BEA has the same terms, including
those relating to fees and expenses payable to BEA, as the previous agreement
with CSFBIM. Until such time as the shareholders approve the proposed advisory
agreement, BEA will not be compensated for services provided to the Portfolio.
No changes to the high yield investment philosophy or process employed in
the Portfolio have been enacted as a result of this ownership change, nor are
any material changes anticipated.
________________________________
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
