<PAGE>
As filed with the Securities and Exchange Commission on July 17, 1995
File No. 33-22821
File No. 811-5601
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933 [_]
POST-EFFECTIVE AMENDMENT NO. 20 [x]
and
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940 [_]
AMENDMENT NO. 21 [x]
SEI INTERNATIONAL TRUST
(Exact name of registrant as specified in charter)
c/o CT Corporation
2 Oliver Street
Boston, Massachusetts 02109
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including Area Code (800) 342-5734
David G. Lee
c/o SEI Corporation
680 E. Swedesford Road
Wayne, Pennsylvania 19087
(Name and Address of Agent for Service)
Copies to:
Richard W. Grant, Esquire
Morgan, Lewis & Bockius
2000 One Logan Square
Philadelphia, PA 19103
It is proposed that this filing become effective (check appropriate box)
[x] immediately upon filing pursuant to paragraph (b)
[_] on [date] pursuant to paragraph (b)
[_] 60 days after filing pursuant to paragraph (a)
[_] on [date] pursuant to paragraph (a) of Rule 485.
Registrant has elected to register an indefinite number of securities pursuant
to Rule 24f-2 under the Investment Company Act of 1940, as amended. Registrant
has filed a Rule 24f-2 Notice on April 25, 1995 for its fiscal year ended
February 28, 1995.
================================================================================
<PAGE>
SEI INTERNATIONAL TRUST
CROSS REFERENCE SHEET
<TABLE>
<CAPTION>
N-1A Item No. Location
- ------------- --------
PART A-Core International Equity, European Equity, Pacific Basin Equity,
- ------
Emerging Markets Equity and International Fixed Income Portfolios- Class A
<C> <S> <C>
Item 1. Cover page .............................................. Cover Page
Item 2. Synopsis ................................................ Annual Operating Expenses
Item 3. Condensed Financial Information ......................... Financial Highlights;
Performance
Item 4. General Description of Registrant ....................... The Trust; Investment
Objective and Policies;
Investment Limitation
Item 5. Management of the Fund .................................. Trustees of the Trust; The
Manager and Shareholder
Servicing Agent; The Adviser;
The Sub-Advisers
Item 5A. Management's Discussion of Fund Performance ............. **
Item 6. Capital Stock and Other Securities ...................... Voting Rights, Shareholder
Inquiries; Dividends; Taxes
Item 7. Purchase of Securities Being Offered .................... Purchase and Redemption of
Shares
Item 8. Redemption or Repurchase ................................ Purchase and Redemption of
Item 9. Pending Legal Proceedings ............................... *
<CAPTION>
PART A-Core International Equity, European Equity, Pacific Basin Equity,
- ------
Emerging Markets Equity and International Fixed Income Portfolios- Class D
<C> <S> <C>
Item 1. Cover page .............................................. Cover Page
Item 2. Synopsis ................................................ Shareholder Transaction
Expenses; Annual Operating
Expenses
Item 3. Condensed Financial Information ......................... Financial Highlights
Item 4. General Description of Registrant ....................... The Trust; Investment
Objective; Investment
Policies; Investment
Limitations
Item 5. Management of the Fund .................................. Trustees of the Trust; The
Manager and Shareholder
Servicing Agent; The Adviser;
The Sub-Advisers
Item 5A. Management's Discussion of Fund Performance ............. **
Item 6. Capital Stock and Other Securities ...................... Voting Rights, Shareholder
Inquiries; Dividends; Taxes
Item 7. Purchase of Securities Being Offered .................... Purchase of Shares
Item 8. Redemption or Repurchase ................................ Redemption of Shares
Item 9. Pending Legal Proceedings ............................... *
</TABLE>
i
<PAGE>
<TABLE>
<CAPTION>
PART B- All Portfolios
- ------
<C> <S> <C>
Item 10. Cover Page .............................................. Cover Page
Item 11. Table of Contents ....................................... Table of Contents
Item 12. General Information and History ......................... The Trust
Item 13. Investment Objectives and Policies ...................... Description of Permitted
Investments; Investment
Limitations
Item 14. Management of the Registrant ............................ Trustees and Officers of the
Trust; The Manager and
Shareholder Servicing Agent;
The Adviser and Sub-Adviser
Item 15. Control Persons and Principal Holders of
Securities ............................................. 5% Shareholders; Trustees and
Officers of the Trust
Item 16. Investment Advisory and Other Services .................. The Adviser; The Manager and
Shareholder Servicing Agent;
Distribution; Experts
Item 17. Brokerage Allocation .................................... Portfolio Transactions
Item 18. Capital Stock and Other Securities ...................... Description of Shares
Item 19. Purchase, Redemption, and Pricing of
Securities Being Offered ............................... Purchase and Redemption of
Shares (Prospectus)
Item 20. Tax Status .............................................. Taxes (Prospectus); Tax
Item 21. Underwriters ............................................ Distribution
Item 22. Calculation of Performance Data ......................... Performance
Item 23. Financial Statements .................................... Financial Statements (except
with respect to the Emerging
Markets Equity Portfolio)
</TABLE>
PART C Information required to be included in Part C is set forth under the
- ------
appropriate Item, so numbered, in Part C of this Registration Statement.
__________________
* Not Applicable
** Information required by Item 5A is contained in the Annual Report for
the fiscal year ending February 28, 1995.
ii
<PAGE>
The Prospectus for the Core International Equity, European Equity, Pacific
Basin Equity, Emerging Markets Equity and International Fixed Income
Portfolios, Class A shares, is incorporated by reference to Post-Effective
Amendment No. 19 to the Registrant's Registration Statement on Form N-1A
(File No. 33-22821) filed with the SEC on April 28, 1995, except the
financial highlights for the Emerging Markets Equity Portfolio, for the
period January 17, 1995 through May 17, 1995, which are included herein.
iii
<PAGE>
SEI INTERNATIONAL TRUST
Supplement dated July 17, 1995 to Prospectus dated November 2, 1994, as
supplemented July 6, 1995
The Prospectus dated November 2, 1994, as supplemented July 6, 1995,
relating to the Core International Equity, European Equity, Pacific Basin
Equity, Emerging Markets Equity and International Fixed Income Portfolios of SEI
International Trust is hereby further amended and supplemented by the addition
of the following unaudited financial information for the period January 17, 1995
through May 17, 1995 for the Emerging Markets Equity Portfolio:
<TABLE>
<CAPTION>
Financial Highlights SEI International Trust
Unaudited
For a Class A Share Outstanding Throughout the Period
EMERGING MARKETS EQUITY PORTFOLIO
------------------------------------
For the period ended May 17,
------------------------------------
1995(1)
- --------------------------------------------------------------------------------
<S> <C>
Net Asset Value,
Beginning of Period..................... $10.00
- --------------------------------------------------------------------------------
Income from Investment Operations:
Net Investment Income................... 0.02
Net Realized and Unrealized Gains
on Securities........................... 1.09
- --------------------------------------------------------------------------------
Total from Investment Operations........ $1.11
- --------------------------------------------------------------------------------
Less Distributions:
Dividends from Net Investment Income.... ---
Dividends from Realized Capital Gains... ---
- --------------------------------------------------------------------------------
Total Distributions..................... $---
- --------------------------------------------------------------------------------
Net Asset Value, End of Period............ $11.11
================================================================================
Total Return.............................. 11.10%
================================================================================
Ratios/Supplemental Data:
Net Assets, End of Period (000)........... $11,519
Ratio of Expenses to Average Net Assets... 1.95%*
Ratio of Expenses to Average Net Assets
(Excluding Waivers)...................... 3.30%*
Ratio of Net Investment Income to
Average Net Assets....................... 1.17%*
Ratio of Net Investment Income to
Average Net Assets (Excluding Waivers)... (0.18)%*
Portfolio Turnover Rate................... 60%
================================================================================
</TABLE>
* Annualized
(1) Emerging Markets Equity shares were offered beginning January 17, 1995.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
iv
<PAGE>
The Prospectus for the Core International Equity, European Equity, Pacific Basin
Equity, Emerging Markets Equity and International Fixed Income Portfolios, Class
D shares, is incorporated by reference to Post-Effective Amendment No. 19 to the
Registrant's Registration Statement on Form N-1A (File No. 33-22821) filed with
the SEC on April 28, 1995.
The Statement of Additional Information is incorporated by reference to
Post-Effective Amendment No. 19 to the Registrant's Registration Statement on
Form N-1A (File No. 33-22821) filed with the SEC on April 28, 1995, except for
the unaudited financial statements for the Emerging Markets Equity Portfolio
for the period January 17, 1995 through May 17, 1995, which are included
herein.
v
<PAGE>
SEI INTERNATIONAL TRUST
Emerging Markets Equity Portfolio
Supplement dated July 17, 1995 to the Statement of Additional Information, dated
June 28, 1995 for the Core International Equity, European Equity, Pacific Basin
Equity, Emerging Markets Equity and International Fixed Income Portfolios of SEI
International Trust.
The Statement of Additional Information for SEI International Trust is hereby
amended and supplemented by the following unaudited financial statements for the
Emerging Markets Equity Portfolio for the period January 17, 1995 through May
17, 1995.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
vi
<PAGE>
Schedule of Investments SEI International Trust
May 17, 1995
<TABLE>
<CAPTION>
Unaudited
Market
Value
EMERGING MARKETS EQUITY PORTFOLIO Shares (000)
- ------------------------------------------------------------------------------
Foreign Common Stock (86.0%)
- ------------------------------------------------------------------------------
<S> <C> <C>
Argentina (4.9%)
Central Costanera ............................ 34,200 $ 105
IRSA GDR* .................................... 1,700 41
IRSA* ........................................ 29,700 72
Perez Companc ................................ 73,916 341
Total Argentina ........................................... 559
Brazil (2.5%)
Aracruz Celulose ADR ......................... 10,100 114
Telebras ADR ................................. 4,700 169
Total Brazil .............................................. 283
Chile (2.0%)
AFP Provida ADR* ............................. 2,100 51
Chilgener ADR ................................ 3,600 103
Madeco ADR ................................... 1,300 36
Vina Concha Y Toro ADR ....................... 2,000 41
Total Chile ............................................... 231
China (0.3%)
Huaneng Power ADR* ........................... 2,000 36
Total China ............................................... 36
Columbia (1.5%)
Banco de Columbia GDS ........................ 25,800 175
Total Columbia ............................................ 175
Greece (2.1%)
Aegek ........................................ 2,800 61
Aluminum of Greece* .......................... 1,600 67
Ergo Bank .................................... 670 31
Hellenic Bottling ............................ 2,725 78
Total Greece .............................................. 237
Hong Kong (2.9%)
CDL Hotels International ..................... 116,000 55
Guang Dong Investment ........................ 76,000 38
Guangzhou Investment ......................... 130,000 23
HSBC Holdings ................................ 2,500 31
Johnson Electric Holdings .................... 13,000 29
MC Packaging ................................. 70,000 28
Shangri-La Asia .............................. 26,000 30
Sinocan Holdings ............................. 110,000 27
Siu-Fung Ceramics ............................ 160,000 25
Tian An China ................................ 142,000 22
Yue Yuen Industrial Holdings ................. 104,000 25
Total Hong Kong ........................................... 333
</TABLE>
<PAGE>
Schedule of Investments SEI International Trust
May 17, 1995
<TABLE>
<CAPTION>
Unaudited
Market
Value
EMERGING MARKETS EQUITY PORTFOLIO Shares (000)
- ------------------------------------------------------------------------------
<S> <C> <C>
India (2.7%)
India Fund .............................. 4,400 $ 52
India Growth Fund ....................... 6,300 121
India Investment Fund ................... 9,500 105
Indian Hotels GDR* ...................... 1,800 31
Total India ............................................... 309
Indonesia (4.8%)
Asia Pacific Resource ADR* .............. 4,400 36
Astra "F" ............................... 48,500 85
Bank Bali "F" ........................... 14,500 29
Bank International Indonesia ............ 11,000 31
Dankos Labs "F" ......................... 9,000 42
Indo-Rama "F" ........................... 15,000 46
Indonesian Satellite ADR* ............... 1,900 73
Indorayon "F" ........................... 27,000 62
Semen Gresik "F" ........................ 17,000 84
Tjiwi Kimia ............................. 10,000 18
United Tractors "F" ..................... 23,000 43
Total Indonesia ........................................... 549
Israel (0.9%)
ECI Telecommunications ADR .............. 5,800 99
Total Israel .............................................. 99
Korea (1.6%)
Kepco ADR* .............................. 2,050 47
Korea Equity Fund ....................... 3,400 29
Korea Fund .............................. 2,400 53
Korea Investment Fund ................... 4,600 56
Total Korea ............................................... 185
Malaysia (26.7%)
Arab Malaysian .......................... 53,000 180
Arab Malaysian Finance .................. 23,000 79
Arab Malaysian Merchant Bank ............ 39,000 466
DCB Holdings ............................ 67,000 191
Genting Berhad .......................... 15,000 158
Hong Leong Credit ....................... 45,000 204
IJM Corp Berhad ......................... 77,000 290
Industrial Oxygen ....................... 116,000 150
Kian Joo Can Factory .................... 33,000 119
Leader Universal Holdings ............... 79,000 294
Resorts World Berhad .................... 44,000 263
Tanjong ................................. 31,000 101
Telekom Malaysia ........................ 10,000 72
United Engineers ........................ 161,000 518
Total Malaysia ............................................ 3,085
</TABLE>
<PAGE>
Schedule of Investments SEI International Trust
May 17, 1995
<TABLE>
<CAPTION>
Unaudited
Market
Value
EMERGING MARKETS EQUITY PORTFOLIO Shares (000)
- ------------------------------------------------------------------------------
<S> <C> <C>
Mexico (4.9%)
Penoles* ................................ 95,000 $ 264
Telefonos de Mexico ADR ................. 9,700 301
Total Mexico .............................................. 565
Peru (2.8%)
Banco de Credito Del Peru* .............. 63,200 137
Southern Peru Copper* ................... 22,600 100
Telefonos Peru "A"* ..................... 52,500 80
Total Peru ................................................ 317
Philippines (5.3%)
Aboitiz Equity Ventures* ................ 315,600 63
Ayala "B" ............................... 24,800 38
Bacnotan Cement* ........................ 86,800 110
Benpres Holdings GDS* ................... 5,900 46
Keppel Phil "B" ......................... 87,000 46
La Tondena Distillers ................... 46,000 60
Manila Mining "B" ....................... 13,900,000 54
Petron .................................. 42,000 33
Philippine Long Distance ................ 620 44
Philippine Long Distance ADR ............ 1,650 115
Total Philippines ......................................... 609
Portugal (1.6%)
Capital Portugal* ....................... 540 48
Cimpor Rights* .......................... 2,000 6
Empresa Fabril* ......................... 3,900 47
Sonae Investimentos ..................... 1,900 46
Soporcel* ............................... 1,550 43
Total Portugal ............................................ 190
Singapore (1.0%)
United Overseas Bank .................... 10,800 110
Total Singapore ........................................... 110
South Africa (8.2%)
Anglo American .......................... 3,580 197
Barlow .................................. 7,100 74
Iscor ................................... 121,800 153
Liberty Life ............................ 5,500 152
South African Breweries ................. 5,500 160
Standard Bank ........................... 5,570 211
Total South Africa ........................................ 947
South Korea (0.4%)
Pohang Iron & Steel ADR ................. 1,600 48
Total South Korea ......................................... 48
</TABLE>
<PAGE>
Schedule of Investments SEI International Trust
May 17, 1995
<TABLE>
<CAPTION>
Unaudited
Market
Value
EMERGING MARKETS EQUITY PORTFOLIO Shares (000)
- ------------------------------------------------------------------------------
<S> <C> <C>
Taiwan (1.0%)
Taiwan Equity Fund ...................... 5,200 $ 60
Taiwan(ROC)Fund* ........................ 5,100 58
Total Taiwan .............................................. 118
Thailand (3.9%)
Ban Pu Coal ............................. 2,400 51
Bangkok Bank "F" ........................ 5,100 56
Electricity Generating* ................. 25,700 74
Land and House "F" ...................... 2,100 40
Regional Container "F" .................. 2,000 32
Siam Cement "F" ......................... 1,100 68
Thai Farmers Bank "F" ................... 8,100 74
United Communications ................... 1,900 28
Wongpaitoon Footwear "F"* ............... 17,000 27
Total Thailand ............................................ 450
Turkey (2.7%)
Cimentas* ............................... 32,000 25
Ege Biracilik ........................... 63,000 70
KOC Holdings ............................ 40,000 35
Tat Konserve ............................ 48,600 94
Tofas-Turk Otomobil ..................... 100,600 83
Total Turkey .............................................. 307
Venezuela (1.3%)
Quimica Y Minera ADR .................... 1,000 40
Sivensa ADR ............................. 71,100 112
Total Venezuela ........................................... 152
- ------------------------------------------------------------------------------
Total Foreign Common Stock
(Cost $9,185[000]) ..................................... 9,894
- ------------------------------------------------------------------------------
Foreign Preferred Stocks (9.2%)
- ------------------------------------------------------------------------------
Brazil (9.2%)
Cie Vale Do Rio Doce .................... 844,000 155
Cimento Itau* ........................... 170,000 60
Copene Petroquimica Nord "A" ............ 44,000 36
Coteminas ............................... 140,000 48
Eletrobras "B" .......................... 915,000 279
Gradiente Electronics "A" ............... 207,000 28
Lojas Renner ............................ 2,100,000 38
Petrobras ............................... 1,150,000 114
Petrobras Distribuidora ................. 1,530,000 57
Randon Participacoes .................... 23,000,000 34
Sadia Concordia* ........................ 40,000 43
</TABLE>
<PAGE>
Schedule of Investments SEI International Trust
May 17, 1995
<TABLE>
<CAPTION>
Unaudited
Market
Value
EMERGING MARKETS EQUITY PORTFOLIO Shares (000)
- ------------------------------------------------------------------------------
<S> <C> <C>
Usiminas Gerais ......................... 137,000,000 $ 173
Total Brazil .............................................. 1,065
- ------------------------------------------------------------------------------
Total Foreign Preferred Stocks
(Cost $935[000]) ....................................... 1,065
- ------------------------------------------------------------------------------
<CAPTION>
Face Market
Amount Value
(000) (000)
- ------------------------------------------------------------------------------
<S> <C> <C>
Convertible Bonds (0.9%)
- ------------------------------------------------------------------------------
South Africa (0.6%)
Barlow
7.000%, 09/20/04 .................... $ 65 78
Total South Africa ........................................ 78
Thailand (0.3%)
Bangkok Bank
3.250%, 03/03/04 .................... 30 30
Total Thailand ............................................ 30
- ------------------------------------------------------------------------------
Total Convertible Bonds
(Cost $105[000]) ....................................... 108
- ------------------------------------------------------------------------------
Repurchase Agreement (14.0%)
- ------------------------------------------------------------------------------
State Street Bank
5.00%, dated 5/17/95, matures 5/18/95,
repurchase price $1,618,000
(collateralized by U.S. Treasury Note,
par value $1,570,000, 9.25%, matures
1/15/96: market value $1,648,000) ..... 1,618 1,618
- ------------------------------------------------------------------------------
Total Repurchase Agreement
(Cost $1,618[000]) ..................................... 1,618
- ------------------------------------------------------------------------------
Total Investments (110.1% of Net Assets)
(Cost $11,843[000]) .................................... $ 12,685
- ------------------------------------------------------------------------------
</TABLE>
* Non-income producing security
ADR - American Depository Receipt
GDR - Global Depository Receipt
GDS - Global Depository Share
<PAGE>
Schedule of Investements SEI International Trust
May 17, 1995
<TABLE>
<CAPTION>
Unaudited
Face Market
Amount Value
EMERGING MARKETS EQUITY PORTFOLIO (000) (000)
- --------------------------------------------------------------------------------
<S> <C> <C>
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE>
Emerging Markets Equity Portfolio SEI International Trust
Statement of Assets and Liabilities (000) Unaudited
May 17, 1995
<TABLE>
<S> <C>
Assets:
Investments securities (Cost $11,843) $ 12,685
Investment securities sold 543
Capital shares sold 211
Other assets 22
-------------
Total Assets 13,461
-------------
Liabilities:
Investment securities purchased 1,911
Other liabilities 31
-------------
Total Liabilities 1,942
-------------
Net Assets $ 11,519
=============
Net Assets:
Portfolio shares of Class A (unlimited
authorization - no par value) based on 1,036,755
outstanding shares of beneficial interest 10,593
Accumulated net realized gain on investments 90
Accumulated net realized loss on foreign currency
transactions (28)
Net unrealized depreciation on forward foreign
currency contracts, foreign currencies and
translation of other assets and liabilities
denominated in foreign currencies (2)
Net unrealized appreciation on investments 842
Undistributed net investment income 24
-------------
Net Assets $ 11,519
=============
Net asset value, offering and redemption price
per share - Class A $ 11.11
=============
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE>
Emerging Markets Equity Portfolio SEI International Trust
Statement of Operations (000) Unaudited
<TABLE>
<CAPTION>
January 17, 1995*
Through
May 17, 1995
----------------
<S> <C>
Investment Income:
Dividends $ 27
Interest 41
Less: Foreign taxes withheld (4)
----------------
Total Investment Income 64
----------------
Expenses:
Management Fees 13
Less management fees waived (13)
Reimbursement by manager (15)
Investment advisory fees 22
Custodian / wire agent fee 18
Professional fees 1
Registration & filing fees 4
Pricing fees 5
Distribution fees 3
Miscellaneous fees 2
----------------
Total Expenses 40
----------------
Net Investment Income 24
----------------
Realized and Unrealized Gain (Loss) on Investments and
Foreign Currency Transactions:
Net realized gain from security
transactions 90
Net realized loss on forward foreign
currency contracts and foreign currency
transactions (28)
Net change in unrealized depreciation
on forward foreign currency contracts, foreign
currencies and translation of other assets and
liabilities denominated in foreign currencies (2)
Net change in unrealized appreciation on investments 842
----------------
Net Increase in Net Assets from
Operations $ 926
================
</TABLE>
* Commencement of operations
The accompanying notes are an integral part of the financial statements.
<PAGE>
Emerging Markets Equity Portfolio SEI International Trust
Statement of Changes in Net Assets (000) Unaudited
<TABLE>
<CAPTION>
January 17, 1995*
Through
May 17, 1995
-----------------
<S> <C>
Operations:
Net investment income $ 24
Net realized gain from security transactions 90
Net realized loss on forward foreign currency
contracts and foreign currency transactions (28)
Net change in unrealized depreciation on
forward foreign currency contracts, foreign
currencies and translation of other assets and
liabilities denominated in foreign currencies (2)
Net change in unrealized appreciation on
investments 842
---------
Net increase in net assets from operations 926
---------
Capital Shares Transactions:
Class A:
Proceeds from shares issued 10,777
Shares issued in lieu of cash distributions -
Cost of shares repurchased (184)
---------
Increase in Net Assets Derived from
Capital Share Transactions 10,593
---------
Total increase in net assets 11,519
Net Assets:
Beginning of period -
---------
End of period $ 11,519
=========
Capital Share Transactions:
Class A:
Shares issued 1,054
Shares issued in lieu of cash distributions -
Shares repurchased (17)
---------
Net increase in capital shares 1,037
=========
</TABLE>
* Commencement of operations
The accompanying notes are an integral part of the financial statements.
<PAGE>
Emerging Markets Equity Portfolio SEI International Trust
Financial Highlights Unaudited
For the period January 17, 1995 through May 17, 1995
<TABLE>
<CAPTION>
For a Share Outstanding Throughout each Period
Net Asset Distributions Distributions
Value Net Net Realized from Net from Net Asset
Beginning Investment and Unrealized Investment Realized Capital Value End Total
of Period Income Gain Income Gains of Period Return
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Emerging Markets Equity Portfolio
- ---------------------------------
Class A
1995* $10.00 $0.02 $1.09 - - $11.11 11.10%
<CAPTION>
Ratio of
Ratio of Net Investment
Ratio of Expenses Income(Loss)
Ratio of Net Investment to Average to Average
Net Assets Expenses Income Net Assets Net Assets Portfolio
End of to Average to Average (Excluding (Excluding Turnover
Period(000) Net Assets Net Assets Waivers) Waivers) Rate
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Emerging Markets Equity Portfolio
- ---------------------------------
Class A
1995* $ 11,519 1.95% 1.17% 3.30% (0.18)% 60%
</TABLE>
* Shares were offered beginning January 17, 1995. All ratios for that period
have been annualized.
The accompanying notes are an integral part of the financial statements.
<PAGE>
Emerging Markets Equity Portfolio SEI International Trust
Notes to Financial Statements Unaudited
May 17, 1995
1. Organization:
SEI International Trust, (the "Trust") was organized as a Massachusetts business
trust under a Declaration of Trust dated June 30, 1988. The operations of the
Trust commenced on December 20, 1989.
2. Significant Accounting Policies:
The Trust is registered under the Investment Company Act of 1940, as amended, as
an open-end management investment company with five portfolios: the Core
International Equity Portfolio (formerly the International Equity Portfolio),
the European Equity Portfolio, the Pacific Basin Equity Portfolio, the Emerging
Markets Equity Portfolio and the International Fixed Income Portfolio (together
the "Portfolios"). These financial statements relate to the Emerging Markets
Equity Portfolio (the "Portfolio") which commenced operations on January 17,
1995.
The following is a summary of significant accounting policies followed by the
Portfolio.
Security Valuation - Investment securities which are listed on a securities
exchange for which market quotations are readily available are valued by an
independent pricing service at the last quoted sales price for such securities,
or if there is no such reported sale on the valuation date, at the most recent
quoted bid price. Unlisted securities for which market quotations are readily
available are valued at the most recent quoted bid price. Short-term investments
may be valued at amortized cost which approximates market value.
Net Asset Value Per Share - The net asset value per share of the Portfolio is
calculated on each business day. It is computed by dividing the assets of the
portfolio, less its liabilities, by the number of outstanding shares of the
portfolio.
Repurchase Agreements - Securities pledged as collateral for repurchase
agreements are held by the custodian bank until maturity of the repurchase
agreements. Provisions of the repurchase agreements and procedures adopted by
the Trust require that the market value of the collateral, including accrued
interest thereon, is sufficient in the event of default by the counterparty.
The Portfolio may also invest in tri-party repurchase agreements. Securities
held as collateral for tri-party repurchase agreements are maintained in a
segregate account by the broker's custodian bank until maturity of the
repurchase agreement. Provisions of the agreements require that the market
value of the collateral, including accrued interest thereon, is sufficient in
the event of default by the counterparty of the Portfolio.
If the counterparty defaults and the value of the collateral declines or if
the counterparty enters an insolvency proceeding, realization of the collateral
by the Portfolio may be delayed or limited.
Foreign Currency Translation - The books and records of the Portfolio are
maintained in U.S. dollars. Foreign currency amounts are translated into U.S.
dollars on the following basis:
(I) market value of investment securities, other assets and liabilities at
the current rate of exchange; and
(II) purchases and sales of investment securities, income and expenses at
the relevant rates of exchange prevailing on the respective dates of
such transactions.
The Portfolio does not isolate that portion of gains and losses on investment
securities which is due to changes in the foreign exchange rates from that which
is due to changes in market prices of equity securities.
The Portfolio reports gains and losses on foreign currency related
transactions as realized and unrealized gains and losses for financial reporting
purposes, whereas such gains and losses are treated as ordinary income or loss
for Federal income tax purposes.
<PAGE>
Emerging Markets Equity Portfolio SEI International Trust
Notes to Financial Statements (Continued) Unaudited
May 17, 1995
Other - Security transactions are accounted for on the trade date of the
security purchase or sale. Costs used in determining net realized capital gains
and losses on the sale of investments securities are those of the specific
securities sold. Purchase discounts and premiums on securities held by the
Portfolio are accreted and amortized to maturity using the scientific interest
method, which approximates the effective interest method. Distributions from
net investment income and any net realized capital gains are generally made to
Shareholders annually. Dividend income is recognized on the ex-dividend date
and interest income is recognized using the accrual method.
Federal Income Taxes - It is the intention of the Portfolio to qualify as a
regulated investment company for Federal income tax purposes and to distribute
all of its taxable income and net capital gains. Accordingly, no provision for
Federal income taxes is required in the accompanying statements.
3. Management, Investment Advisory and Distribution Agreements:
SEI Financial Management Corporation (the "Manager"), a wholly owned subsidiary
of SEI Corporation, and the Trust are parties to a management agreement dated
August 30, 1988, under which the Manager provides management, administrative and
shareholder services to the Fund for an annual fee equal to .65% of the daily
net assets of the Portfolio. The manager has agreed to waive all or a portion
of its fees in order to limit the operating expenses of the Portfolio to 1.95%
of its average daily net assets.
SEI Financial Management Corporation (SFM), the advisor for the Portfolio, is
a party to an investment advisory agreement dated December 16, 1994. Under the
Investment Advisory Agreement, SFM receives an annual fee of 1.05% of the daily
net assets of the Portfolio. Pursuant to a Sub-Advisory Agreement with SFM,
Montgomery Asset Management, L.P. serves as Sub-Advisor to the Portfolio.
SEI Financial Service Company (the "Distributor"), a wholly owned subsidiary
of the SEI Corporation and a registered broker-dealer, acts as the distributor
of the shares of the Trust under a distribution plan which provides for the
Trust to reimburse the Distributor for distributions. Such expenses may not
exceed .30% of the daily average net assets of the Portfolio. Distribution
expenses include, among other items, the compensation and benefits of sales
personnel incurred by the Distributor in connection with the promotion and sale
of shares. Distribution expenses are allocated among the Portfolios on the
basis of their relative average daily net assets.
Certain Officers and/or Trustees of the Trust are also Officers and/or
Directors of the Manager. Compensation of Officers and affiliated Trustees is
paid by the manager.
4. Organization Costs:
Organizational costs have been capitalized by the Portfolio and are being
amortized using the straight line method over sixty months commencing with
operations. In the event any of the initial shares of the Portfolio acquired by
the Manager are redeemed during the period that the Portfolio is amortizing its
organizational costs, the redemption proceeds payable to the Manager by the
Portfolio will be reduced by an amount equal to a pro rata portion of the
unamortized organizational costs.
<PAGE>
Emerging Markets Equity Portfolio SEI International Trust
Notes to Financial Statements (Concluded) Unaudited
May 17, 1995
5. Investment Transactions:
The cost of security purchases and the proceeds from the sale of securities,
other than short-term investments and U.S. government securities, during the
period ended May 17, 1995, were as follows:
<TABLE>
<CAPTION>
Purchases Sales
(000) (000)
----- -----
<S> <C> <C>
Emerging Markets Equity Portfolio $ 13,612 $ 3,478
</TABLE>
For Federal income tax purposes, the cost of securities owned at May 17, 1995
and the net realized gains or losses on securities sold for the period then
ended was not materially different from the amounts reported for financial
reporting purposes. The aggregate gross unrealized appreciation and
depreciation at May 17, 1995 for the Portfolio is as follows:
<TABLE>
<CAPTION>
Net
Appreciated Depreciated Unrealized
Securities Securities Appreciation
(000) (000) (000)
---------- ----------- ------------
<S> <C> <C> <C>
Emerging Markets Equity Portfolio $ 917 $( 75) $ 842
</TABLE>
<PAGE>
PART C: OTHER INFORMATION
Item 24. Financial Statements and Exhibits:
(a) Financial Statements
1. The Registrant's audited financial statements for the Core
International Equity Portfolio, European Equity Portfolio, Pacific Basin Equity
Portfolio, Emerging Markets Equity Portfolio and International Fixed Income
Portfolio for the fiscal year ended February 28, 1995, including Price
Waterhouse LLP's report thereon, included in the Statement of Additional
Information, filed as part of Post-Effective Amendment No. 19 to the
Registrant's Registration Statement on Form N-1A (File No. 33-22821) are
incorporated by reference, as filed with the Securities and Exchange Commission
on April 28, 1995.
2. The Registrant's unaudited financial statements for the Emerging
Markets Equity Portfolio for the period January 17, 1995 through May 17, 1995
are included herein.
(b) Exhibits
(1) Agreement and Declaration of Trust/1/
(2) By-Laws/1/
(3) Not Applicable
(4) Not Applicable
(5)(a) Management Agreement between Registrant and SEI Financial
Management Company/2/
(5)(b) Form of Investment Advisory Agreement between Registrant and
Brinson Partners, Inc./4/
(5)(c) Form of Investment Advisory Agreement between Registrant and
Strategic Fixed Income L.P./6/
(5)(d) Schedule C to Management Agreement between Registrant and SEI
Financial Management Company adding the International Fixed
Income Portfolio/8/
(5)(e) Form of Investment Advisory Agreement between Registrant and
Morgan Grenfell Investment Services Ltd./10/
(5)(f) Form of Investment Advisory Agreement between Registrant and
Schroder Capital Management International Limited/10/
(5)(g) Form of Investment Advisory Agreement between Registrant and SEI
Financial Management Corporation./12/
(5)(h) Form of Investment Sub-Advisory Agreement between Registrant and
Strategic Fixed Income L.P./12/
(5)(i) Form of Investment Sub-Advisory Agreement between Registrant and
Morgan Grenfell Investment Services Ltd./12/
(5)(j) Form of Investment Sub-Advisory Agreement between Registrant and
Schroder Capital Management International Limited/12/
(5)(k) Investment Sub-Advisory Agreement between Registrant and
Montgomery Asset Management L.P./12/
(5)(l) Investment Sub-Advisory Agreement between Registrant and Acadian
Asset Management, Inc./12/
(5)(m) Investment Sub-Advisory Agreement between Registrant and
WorldInvest Limited./12/
(6) Distribution Agreement between Registrant and SEI Financial
Services Company/2/
(7) Not Applicable
(8)(a) Custodian Agreement between Registrant and State Street Bank and
Trust Company/3/
<PAGE>
(8)(b) Form of Custodian Agreement between Registrant and The Chase
Manhattan Bank, N.A./7/
(9) Not Applicable
(10) Opinion and Consent of Counsel/2/
(11) Consent of Independent Accountants*
(12) Not Applicable
(13) Not Applicable
(14) Not Applicable
(15)(a) Distribution Plan (Class D)/8/
(15)(b) Form of Distribution Plan (Core International Equity Portfolio
Class A)/9/
(15)(c) Form of Distribution Plan (International Fixed Income
Portfolio)/9/
(16) Performance Quotation Computation/5/
(24) Powers of Attorney for Edward W. Binshadler, Richard F.
Blanchard, Jeffrey A. Cohen, William M. Doran, F. Wendell Gooch,
David G. Lee, Frank E. Morris, Robert A. Nesher, Carmen V. Romeo
and James M. Storey/11/
- ----------------
* Filed herewith
1 Incorporated herein by reference to Registrant's Registration Statement
on Form N-1A (File No. 33-22821) filed with the Securities and Exchange
Commission ("SEC") on June 30, 1988
2 Incorporated herein by reference to Pre-Effective Amendment No. 1 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on August 30, 1988
3 Incorporated herein by reference to Item (8) of Part C of Post-Effective
Amendment No. 1 to Registrant's Registration Statement on Form N-1A
(File No. 33-22821), filed with the SEC on September 16, 1988
4 Incorporated herein by reference to Post-Effective Amendment No. 6 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on May 16, 1991
5 Incorporated herein by reference to Post-Effective Amendment No. 7 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on June 30, 1992
6 Incorporated herein by reference to Post-Effective Amendment No. 9 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on March 31, 1993
7 Incorporated herein by reference to Item (8)(c) of Part C of
Post-Effective Amendment No. 9 to Registrant's Registration Statement
on Form N-1A (File No. 33-22821), filed with the SEC on March 31, 1993
8 Incorporated herein by reference to Post-Effective Amendment No. 10 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on June 28, 1993
9 Incorporated herein by reference to Post-Effective Amendment No. 11 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on June 29, 1993
10 Incorporated herein by reference to Post-Effective Amendment No. 16 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on May 2, 1994
11 Incorporated herein by reference to Post-Effective Amendment No. 18 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on October 28, 1994
12 Incorporated herein by reference to Post-Effective Amendment No. 19 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on April 28, 1995
<PAGE>
Item 25. Persons Controlled by or Under Common Control with Registrant
See the Prospectus and Statement of Additional Information regarding the
Trust's control relationships. The Manager is a subsidiary of SEI Corporation
which also controls the distributor of the Registrant (SEI Financial Services
Company) and other corporations engaged in providing various financial and
record keeping services, primarily to bank trust departments, pension plan
sponsors and investment managers.
Item 26. Number of Holders of Securities:
<TABLE>
<CAPTION>
As of June 9, 1995
Number of
Title of Class Record Holders
-------------- --------------
<S> <C>
Units of beneficial interest, without par value--
Core International Equity Portfolio--Class A.... 153
Core International Equity Portfolio--Class D.... 18
International Fixed Income Portfolio............ 75
European Equity Portfolio....................... 61
Pacific Basin Equity Portfolio.................. 63
Emerging Markets Equity Portfolio............... 15
</TABLE>
Item 27. Indemnification:
Article VIII of the Agreement and Declaration of Trust filed as Exhibit 1
to the Registration Statement is incorporated by reference. Insofar as
indemnification for liabilities arising under the Securities Act of 1933, as
amended (the "Act"), may be permitted to trustees, directors, officers and
controlling persons of the Registrant by the Registrant pursuant to the
Registrant's Agreement and Declaration of Trust or otherwise, the Registrant is
aware that in the opinion of the Securities and Exchange Commission, such
indemnification is against public policy as expressed in the Act and, therefore,
is unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by trustees, directors, officers or controlling persons of the Registrant
in connection with the successful defense of any act, suit or proceeding) is
asserted by such trustees, directors, officers or controlling persons in
connection with the shares being registered, the Registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will
be governed by the final adjudication of such issue.
Item 28. Business and Other Connections of Investment Adviser:
Strategic Fixed Income L.P.
Strategic Fixed Income L.P. ("Strategic") is the investment sub-adviser for
Registrant's International Fixed Income Portfolio. The principal business
address of Strategic is 1001 Nineteenth Street North, 16th Floor, Arlington,
Virginia 22209. Strategic is an investment adviser registered under the
Advisers Act.
The list required by this Item 28 of officers and directors of Strategic,
together with information as to any other business, profession, vocation or
employment of substantial nature engaged in by such officers and directors
during the past two years, is incorporated by reference to Schedules A and D of
Form ADV filed by Strategic pursuant to the Advisers Act (SEC File No.
801-38734).
<PAGE>
Morgan Grenfell Investment Services Limited
Morgan Grenfell Investment Services Limited ("Morgan Grenfell") is the
investment sub-adviser for Registrant's European Equity Portfolio. The
principal business address of Morgan Grenfell is 20 Finsbury Circus, London EC2M
INB, England. Morgan Grenfell is an investment adviser registered under the
Advisers Act.
The list required by this Item 28 of officers and directors of Morgan
Grenfell, together with information as to any other business, profession,
vocation or employment of substantial nature engaged in by such officers and
directors during the past two years, is incorporated by reference to Schedules A
and D of Form ADV filed by Morgan Grenfell pursuant to the Advisers Act (SEC
File No. 801-12880).
Schroder Capital Management International Limited
Schroder Capital Management International Limited ("Schroder") is the
investment sub-adviser for Registrant's Pacific Basin Equity Portfolio. The
principal business address of Schroder is 33 Gutter Lane, London EC2V 8AS,
England. Schroder is an investment adviser registered under the Advisers Act.
The list required by this Item 28 of officers and directors of Schroder,
together with information as to any other business, profession, vocation or
employment of substantial nature engaged in by such officers and directors
during the past two years, is incorporated by reference to Schedules A and D of
Form ADV filed by Schroder pursuant to the Advisers Act (SEC File No.
801-15834).
SEI Financial Management Company
SEI Financial Management Company ("SFM") is the investment adviser for
Registrant's Core International Equity, European Equity, Pacific Basin Equity,
Emerging Markets Equity and International Fixed Income Portfolios. The
principal address of SFM is 680 East Swedesford Road, Wayne, Pennsylvania
19087. SFM is an investment adviser registered under the Advisers Act.
The list required by this Item 28 of officers and directors of SFM,
together with information as to any other business, profession, vocation or
employment of a substantial nature engaged in by such officers and directors
during the past two years, is incorporated by reference to Schedules A and D of
Form ADV filed by SFM pursuant to the Advisers Act (SEC File No. 801-24593).
Montgomery Asset Management, L.P.
Montgomery Asset Management, L.P. ("MAM") is the investment sub-adviser for
Registrant's Emerging Markets Equity Portfolio. The principal address of MAM is
600 Montgomery Street, San Francisco, California 94111. MAM is an investment
adviser registered under the Advisers Act.
The list required by this Item 28 of officers and directors of MAM,
together with information as to any other business, profession, vocation or
employment of a substantial nature engaged in by such officers and directors
during the past two years, is incorporated by reference to Schedules A and D of
Form ADV filed by MAM pursuant to the Advisers Act (SEC File No. 801-36790).
Acadian Asset Management, Inc.
Acadian Asset Management, Inc. ("Acadian") is the investment sub-adviser
for Registrant's Core International Equity Portfolio. The principal address of
Acadian is 260 Franklin Street, Boston, Massachusetts 02110. Acadian is an
investment adviser registered under the Advisers Act.
<PAGE>
The list required by this Item 28 of officers and directors of Acadian,
together with information as to any other business, profession, vocation or
employment of a substantial nature engaged in by such officers and directors
during the past two years, is incorporated by reference to Schedules A and D of
Form ADV filed by Acadian pursuant to the Advisers Act (SEC File No. 801-28078).
WorldInvest Limited
WorldInvest Limited ("WorldInvest") is the investment sub-adviser for
Registrant's Core International Equity Portfolio. The principal address of
WorldInvest is 56 Russell Square, London, England.
The list required by this Item 28 of officers and directors of WorldInvest,
together with information as to any other business, profession, vocation or
employment of a substantial nature engaged in by such officers and directors
during the past two years, is incorporated by reference to Schedules A and D of
Form ADV filed by WorldInvest pursuant to the Advisers Act (SEC File No.
801-26315).
Item 29. Principal Underwriters:
(a) Furnish the name of each investment company (other than the Registrant)
for which each principal underwriter currently distributing securities
of the Registrant also acts as a principal underwriter, depositor or
investment adviser:
Registrant's distributor, SEI Financial Services Company ("SFS"), acts as
distributor for:
<TABLE>
<S> <C>
SEI Daily Income Trust July 15, 1982
SEI Liquid Asset Trust November 29, 1982
SEI Tax Exempt Trust December 3, 1982
SEI Index Funds July 10, 1985
SEI Institutional Managed Trust January 22, 1987
Stepstone Funds January 30, 1991
The Compass Capital Group March 8, 1991
FFB Lexicon Funds October 18, 1991
The Advisors' Inner Circle Fund November 14, 1991
The Pillar Funds February 28, 1992
CUFund May 1, 1992
STI Classic Funds May 29, 1992
CoreFunds, Inc. October 30, 1992
First American Funds, Inc. November 1, 1992
First American Investment Funds, Inc. November 1, 1992
The Arbor Fund January 28, 1993
1784 Funds June 1, 1993
Marquis/SM/ Funds August 17, 1993
Morgan Grenfell Investment Trust January 3, 1994
The PBHG Funds, Inc. July 16, 1993
Nationar Funds, Inc. June 15, 1994
Inventor Funds, Inc. August 1, 1994
The Achievement Funds Trust December 27, 1994
Insurance Investment Products Trust December 30, 1994
Bishop Street Funds January 27, 1995
CrestFunds, Inc. March 1, 1995
Conestoga Family of Funds May 1, 1995
</TABLE>
<PAGE>
SFS provides numerous financial services to investment managers, pension
plan sponsors, and bank trust departments. These services include
portfolio evaluation, performance measurement and consulting services
("Funds Evaluation") and automated execution, clearing and settlement of
securities transactions ("MarketLink").
<TABLE>
<CAPTION>
Position and Office Positions and Offices
Name with Underwriter with Registrant
- ---- ------------------- ---------------------
<S> <C> <C>
Alfred P. West, Jr. Director, Chairman & Chief Executive Officer --
Henry H. Greer Director, President & Chief Operating Officer --
Carmen V. Romeo Director, Executive Vice President & Treasurer Treasurer & Assistant
Secretary
Gilbert L. Beebower Executive Vice President --
Richard B. Lieb Executive Vice President --
Charles A. Marsh Executive Vice President-Capital Resources Division --
Leo J. Dolan, Jr. Senior Vice President --
Carl A. Guarino Senior Vice President --
Jerome Hickey Senior Vice President --
David G. Lee Senior Vice President President & Chief
Executive Officer
William Madden Senior Vice President --
A. Keith McDowell Senior Vice President --
Dennis J. McGonigle Senior Vice President --
Hartland J. McKeown Senior Vice President --
James V. Morris Senior Vice President --
Steven Onofrio Senior Vice President --
Kevin P. Robins Senior Vice President, General Counsel & Vice President
Secretary & Assistant Secretary
Robert Wagner Senior Vice President --
Patrick K. Walsh Senior Vice President --
Kenneth Zimmer Senior Vice President --
Robert Crudup Managing Director --
Todd Cipperman Vice President & Assistant Secretary --
Jeff Drennen Vice President --
Vic Galef Managing Director --
Lawrence D. Hutchison Vice President --
Kim Kirk Managing Director --
John Krzeminski Managing Director --
Carolyn McLaurin Managing Director --
Barbara Moore Managing Director --
Donald Pepin Managing Director --
Mark Samuels Managing Director --
Wayne M. Withrow Managing Director --
Robert Ludwig Team Leader Assistant Secretary
Vicki Malloy Team Leader Assistant Secretary
Mick Duncan Team Leader Assistant Secretary
Robert Aller Vice President --
Charles Baker Vice President --
Steve Bendinelli Vice President --
Cris Brookmyer Vice President & Controller --
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Position and Office Positions and Offices
Name with Underwriter with Registrant
- ---- ------------------- ---------------------
<S> <C> <C>
Gordon W. Carpenter Vice President --
Robert B. Carroll Vice President & Assistant Secretary Vice President &
Assistant Secretary
Ed Daly Vice President --
Lucinda Duncalfe Vice President --
Kathy Hellig Vice President --
Michael Kantor Vice President --
Samuel King Vice President --
Donald H. Korytowski Vice President --
Robert S. Ludwig Vice President --
Jack May Vice President --
Sandra K. Orlow Vice President & Assistant Secretary Vice President &
Assistant Secretary
Kim Rainey Vice President --
Paul Sachs Vice President --
Steve Smith Vice President --
Kathryn L. Stanton Vice President & Assistant Secretary Vice President &
Assistant Secretary
Daniel Spaventa Vice President --
William Zawaski Vice President --
Larry Pokora Vice President --
James Dougherty Director of Brokerage Services --
</TABLE>
Item 30. Location of Accounts and Records:
Books or other documents required to be maintained by Section 31(a) of the
Investment Company Act of 1940, as amended (the "1940 Act"), and the rules
promulgated thereunder, are maintained as follows:
(a) With respect to Rules 31a-1(a); 31a-1(b)(1); (2)(a) and (b); (3);
(6); (8); (12); and 31a-1(d), the required books and records are maintained
at the offices of the Portfolios' Custodians:
State Street Bank and Trust Company
225 Franklin Street
Boston, MA 02110
Chase Manhattan Bank, N.A.
Chase MetroTech Center
Brooklyn, NY 11245
(b)/(c) With respect to Rules 31a-1(a); 31a-1(b)(1), (4); (2)(C) and
(D); (4); (5); (6); (8); (9); (10); (11); and 31a-1(f), the required books
and records are maintained at the offices of Registrant's Manager:
SEI Financial Management Corporation
<PAGE>
680 E. Swedesford Road
Wayne, PA 19087
(d) With respect to Rules 31a-(b)(5); (6), (9) and (10) and 31a-1(f),
the required books and records are maintained at the offices of
Registrant's Advisers:
Strategic Fixed Income L.P.
1001 Nineteenth Street North, 16th Floor
Arlington, VA 22209
Morgan Grenfell Investment Services Limited
20 Finsbury Circus
London EC2M INB
England
Schroder Capital Management International Limited
33 Gutterlane
London ECZV 8AS
England
SEI Financial Management Corporation
680 East Swedesford Road
Wayne, PA 19087
Montgomery Asset Management, L.P.
600 Montgomery Street
San Francisco, CA 94111
Acadian Asset Management, Inc.
260 Franklin Street
Boston, MA 02110
WorldInvest Limited
56 Russell Square
London, England
Item 31. Management Services: None.
Item 32. Undertakings:
Registrant hereby undertakes that whenever shareholders meeting the
requirements of Section 16(c) of the 1940 Act inform the Board of Trustees of
their desire to communicate with shareholders of the Trust, the Trustees will
inform such shareholders as to the approximate number of shareholders of record
and the approximate costs of mailing or afford said shareholders access to a
list of shareholders.
Registrant hereby undertakes to call a meeting of shareholders for the
purpose of voting upon the question of removal of a Trustee(s) when requested in
writing to do so by the holders of at least 10% of Registrant's outstanding
shares and in connection with such meetings to comply with the provisions of
Section 16(c) of the 1940 Act relating to shareholder communications.
<PAGE>
Registrant hereby undertakes to furnish, upon request and without charge, to
each person to whom a prospectus is delivered, a copy of the Registrant's latest
annual report to Shareholders, when such annual report is issued containing
information called for by Item 5A of Form N-1A.
<PAGE>
NOTICE
A copy of the Agreement and Declaration of Trust of SEI International Trust
is on file with the Secretary of State of the Commonwealth of Massachusetts and
notice is hereby given that this Registration Statement has been executed on
behalf of the Trust by an officer of the Trust as an officer and by its Trustees
as trustees and not individually and the obligations of or arising out of this
Registration Statement are not binding upon any of the Trustees, officers, or
shareholders individually but are binding only upon the assets and property of
the Trust.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and
the Investment Company Act of 1940, as amended, the Registrant certifies that it
meets all of the requirements for the effectiveness of this Registration
Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly
caused this Amendment No. 20 to the Registration Statement No. 33-22821 to
be signed on its behalf by the undersigned, thereunto duly authorized, in the
city of Wayne, Commonwealth of Pennsylvania on the 17th day of July,
1995.
SEI INTERNATIONAL TRUST
By /s/ DAVID G. LEE
-------------------------
David G. Lee, President
ATTEST:
/s/ JEFFREY A. COHEN
- -------------------------------
Jeffrey A. Cohen, Controller
Pursuant to the requirements of the Securities Act of 1933, this Amendment
to the Registration Statement has been signed below by the following persons in
the capacity on the dates indicated.
<TABLE>
<S> <C> <C>
* Trustee July 17, 1995
- ------------------------------
Richard F. Blanchard
* Trustee July 17, 1995
- ------------------------------
William M. Doran
* Trustee July 17, 1995
- ------------------------------
F. Wendell Gooch
* Trustee July 17, 1995
- ------------------------------
Frank E. Morris
* Trustee July 17, 1995
- ------------------------------
James M. Storey
* Trustee July 17, 1995
- ------------------------------
Robert A. Nesher
/s/ JEFFREY A. COHEN Controller & July 17, 1995
- ------------------------------ Assistant
Jeffrey A. Cohen Secretary
/s/ CARMEN V. ROMEO Treasurer & July 17, 1995
- ------------------------------ Assistant
Carmen V. Romeo Secretary
*By /s/ DAVID G. LEE
- ------------------------------
David G. Lee
Attorney-in-Fact
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Exhibit Index
Exhibit Page
- ------- ----
<C> <S> <C>
(1) Agreement and Declaration of Trust/1/
(2) By-Laws/1/
(3) Not Applicable
(4) Not Applicable
(5)(a) Management Agreement between Registrant and SEI Financial Management
Company/2/
(5)(b) Form of Investment Advisory Agreement between Registrant and Brinson
Partners, Inc./4/
(5)(c) Form of Investment Advisory Agreement between Registrant and Strategic
Fixed Income L.P./6/
(5)(d) Schedule C to Management Agreement between Registrant and SEI Financial
Management Company adding the International Fixed Income Portfolio/8/
(5)(e) Form of Investment Advisory Agreement between Registrant and Morgan
Grenfell Investment Services Ltd./10/
(5)(f) Form of Investment Advisory Agreement between Registrant and Schroder
Capital Management International Limited/10/
(5)(g) Form of Investment Advisory Agreement between Registrant and SEI
Financial Management Corporation./12/
(5)(h) Form of Investment Sub-Advisory Agreement between Registrant and
Strategic Fixed Income L.P./12/
(5)(i) Form of Investment Sub-Advisory Agreement between Registrant and
Morgan Grenfell Investment Services Ltd./12/
(5)(j) Form of Investment Sub-Advisory Agreement between Registrant and
Schroder Capital Management International Limited/12/
(5)(k) Investment Sub-Advisory Agreement between Registrant and Montgomery
Asset (Management L.P./12/
(5)(l) Investment Sub-Advisory Agreement between Registrant and Acadian Asset
Management, Inc./12/
(5)(m) Investment Sub-Advisory Agreement between Registrant and WorldInvest
Limited./12/
(6) Distribution Agreement between Registrant and SEI Financial Services
Company/2/
(7) Not Applicable
(8)(a) Custodian Agreement between Registrant and State Street Bank and Trust
Company/3/
(8)(b) Form of Custodian Agreement between Registrant and The Chase Manhattan
Bank, N.A./7/
(9) Not Applicable
(10) Opinion and Consent of Counsel/2/
(11) Consent of Independent Accountants*
(12) Not Applicable
(13) Not Applicable
(14) Not Applicable
(15)(a) Distribution Plan (Class D)/8/
(15)(b) Form of Distribution Plan (Core International Equity Portfolio Class
A)/9/
(15)(c) Form of Distribution Plan (International Fixed Income Portfolio)/9/
(16) Performance Quotation Computation /5/
(24) Powers of Attorney for Edward W. Binshadler, Richard F. Blanchard,
Jeffrey A. Cohen, William M. Doran, F. Wendell Gooch, David G. Lee,
Frank E. Morris, Robert A. Nesher, Carmen V. Romeo, and James A.
Storey/11/
</TABLE>
- --------------
* Filed herewith
1 Incorporated herein by reference to Registrant's Registration
Statement on Form N-1A (File No. 33-22821) filed with the Securities
and Exchange Commission ("SEC") on June 30, 1988
2 Incorporated herein by reference to Pre-Effective Amendment No. 1 to
Registrant's Registration Statement on Form N-1A (File No.33-22821),
filed with the SEC on August 30, 1988
<PAGE>
3 Incorporated herein by reference to Item (8) of Part C of Post-Effective
Amendment No. 1 to Registrant's Registration Statement on Form N-1A
(File No. 33-22821), filed with the SEC on September 16, 1988
4 Incorporated herein by reference to Post-Effective Amendment No. 6 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on May 16, 1991
5 Incorporated herein by reference to Post-Effective Amendment No. 7 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on June 30, 1992
6 Incorporated herein by reference to Post-Effective Amendment No. 9 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on March 31, 1993
7 Incorporated herein by reference to Item (8)(c) of Part C of
Post-Effective Amendment No. 9 to Registrant's Registration Statement on
Form N-1A (File No. 33-22821), filed with the SEC on March 31, 1993
8 Incorporated herein by reference to Post-Effective Amendment No. 10 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on June 28, 1993
9 Incorporated herein by reference to Post-Effective Amendment No. 11 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on June 29, 1993
10 Incorporated herein by reference to Post-Effective Amendment No. 16 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on May 2, 1994
11 Incorporated herein by reference to Post-Effective Amendment No. 18 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on October 28, 1994
12 Incorporated herein by reference to Post-Effective Amendment No. 19 to
Registrant's Registration Statement on Form N-1A (File No. 33-22821),
filed with the SEC on April 28, 1995
<PAGE>
Exhibit 11
Consent of Independent Accountants
We hereby consent to the use in the Statement of Additional Information which is
incorporated by reference in this Post-Effective Amendment No. 20 to the
registration statement on Form N-1A (the "Registration Statement") of our report
dated April 11, 1995, relating to the February 28, 1995 financial statements and
financial highlights of the Core International Equity, European Equity, Pacific
Basin Equity, Emerging Markets Equity and International Fixed Income Portfolios
of SEI International Trust, which appears in such Statement of Additional
Information, and to the incorporation by reference of our report into the
Prospectuses which are incorporated by reference in this Registration Statement.
We also consent to the references to us under the headings "Financial
Statements" and "Experts" in such Statement of Additional Information and to the
references to us under the headings "Financial Highlights" and "General
Information" in such Prospectuses.
/s/ Price Waterhouse LLP
PRICE WATERHOUSE LLP
Philadelphia, Pennsylvania
July 13, 1995
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