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SEI INSTITUTIONAL MANAGED TRUST
Large Cap Growth Portfolio
Small Cap Value Portfolio
Mid-Cap Portfolio
Supplement Dated June 21, 1995 to
the Institutional Class Prospectus
Dated January 31, 1995
The Prospectus is hereby amended and supplemented by the addition of the
following unaudited financial information for the Large Cap Growth and Small Cap
Value Portfolios for the period ended March 31, 1995.
Financial Highlights SEI Institutional Managed Trust
(Unaudited)
For a Class A Share Outstanding Throughout the Period
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LARGE CAP GROWTH SMALL CAP VALUE
PORTFOLIO PORTFOLIO
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For the period For the period
ended March 31, ended March 31,
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1995(1) 1995(2)
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<S> <C> <C>
Net Asset Value,
Beginning of Period............ $ 10.00 $ 10.00
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Income from Investment Operations:
Net Investment Income.......... 0.05 0.01
Net Realized and Unrealized
Gains on Securities........... 0.76 0.50
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Total from Investment
Operations.................... $ 0.81 $ 0.51
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Less Distributions:
Dividends from Net Investment
Income........................ (0.02) ---
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Total Distributions............ $ (0.02) $ ---
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Net Asset Value, End of Period..... $ 10.79 $ 10.51
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Total Return....................... 32.43% 19.69%
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Ratios/Supplemental Data:
Net Assets, End of Period (000).... $131,957 $47,608
Ratio of Expenses to Average
Net Assets........................ 0.85% 1.10%
Ratio of Expenses to Average Net
Assets (Excluding Waivers)........ 0.85% 1.11%
Ratio of Net Investment Income to
Average Net Assets................ 1.98% 0.81%
Ratio of Net Investment Income to
Average Net Assets (Excluding
Waivers).......................... 1.98% 0.80%
Portfolio Turnover Rate............ 16% 3%
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(1) Large Cap Growth shares were offered beginning December 20, 1994. All ratios
for that period have been annualized.
(2) Small Cap Value shares were offered beginning December 20, 1994. All ratios
for that period have been annualized.
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On June 5, 1995, the Trust's Board of Trustees voted to change the name of the
Mid-Cap Growth Portfolio to the Mid-Cap Portfolio to reflect a shift in emphasis
by the Portfolio from mid-sized "growth" companies to a broader range of middle
capitalization companies. In connection with this change, the Board of Trustees
approved a change in investment adviser for the Portfolio from Nicholas-
Applegate Capital Management to Martingale Asset Management, L.P. ("Martingale")
effective June 21, 1995. At a Shareholder meeting scheduled for August 11,
1995, Shareholders of the Mid-Cap Portfolio will be asked to approve the
selection of Martingale as the Portfolio's new investment adviser.
As of the date of this Supplement, "The Advisers and Sub-Advisers" section of
the Prospectus is amended and the following language inserted:
Martingale Asset Management, L.P. Martingale is a Delaware limited partnership
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with its principal address at 222 Berkeley Street, Boston, Massachusetts 02116.
Martingale's general partner is Martingale Asset Management Corporation, 222
Berkeley Street, Boston, MA 02116, which is controlled by Arnold S. Wood and
William E. Jacques, who are also officers and partners of Martingale. Martingale
was established in 1987, and as of May 31, 1995, had assets of approximately
$410 million under management. Martingale's advisory clients include pension
plans, endowments, foundations, and investment company portfolios.
The assets of the Portfolio will be managed by John Freeman. Mr. Freeman has 10
years of investment management experience, including 3 years of experience
investing in mid cap companies. Prior to joining Martingale, he worked at
BARRA, Inc. as a Manager of Consulting Services.
Compensation. Under an Investment Advisory Agreement with the Trust, the Trust
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pays Martingale a fee, which is calculated daily and paid monthly, at an annual
rate of .25% of the average daily net assets of the Mid-Cap Portfolio. For the
fiscal year ended September 30, 1994, the Portfolio paid Nicholas-Applegate
Capital Management, the Portfolio's former investment adviser, an investment
advisory fee of .45% of the average daily net assets of the Portfolio.
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On May 3, 1995, Martingale and Commerz International Capital Management ("CICM")
signed a definitive agreement under which CICM will become a general partner and
60% owner of Martingale. The remaining 40% of Martingale will be owned by its
current partners (except for BARRA, Inc., whose 20% interest would be bought
out). If and when the transaction is consummated, the Trustees may have to
solicit approval of a new investment advisory agreement with Martingale on
behalf of the Mid-Cap Portfolio. Any developments pertaining to the Portfolio's
advisory arrangements will be disclosed in this Prospectus or any supplements
thereto.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
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