0001104659-12-070112.txt : 20121019 0001104659-12-070112.hdr.sgml : 20121019 20121019161509 ACCESSION NUMBER: 0001104659-12-070112 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121019 DATE AS OF CHANGE: 20121019 EFFECTIVENESS DATE: 20121019 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEI INSTITUTIONAL INVESTMENTS TRUST CENTRAL INDEX KEY: 0000939934 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-58041 FILM NUMBER: 121152577 BUSINESS ADDRESS: STREET 1: 1 FREEDOM VALLEY DRIVE CITY: OAK STATE: PA ZIP: 19456 BUSINESS PHONE: 610 676-3097 MAIL ADDRESS: STREET 1: 1 FREEDOM VALLEY DRIVE CITY: OAK STATE: PA ZIP: 19456 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEI INSTITUTIONAL INVESTMENTS TRUST CENTRAL INDEX KEY: 0000939934 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07257 FILM NUMBER: 121152578 BUSINESS ADDRESS: STREET 1: 1 FREEDOM VALLEY DRIVE CITY: OAK STATE: PA ZIP: 19456 BUSINESS PHONE: 610 676-3097 MAIL ADDRESS: STREET 1: 1 FREEDOM VALLEY DRIVE CITY: OAK STATE: PA ZIP: 19456 0000939934 S000006761 SIIT INTERNATIONAL EQUITY FUND C000018350 SIIT INTERNATIONAL EQUITY FUND - CLASS A SNTAX 0000939934 S000006762 SIIT LONG DURATION FUND C000018351 SIIT LONG DURATION FUND - CLASS A LDRAX 0000939934 S000006763 SIIT HIGH YIELD BOND FUND C000018352 SIIT HIGH YIELD BOND FUND - CLASS A SGYAX 0000939934 S000006764 SIIT EMERGING MARKETS DEBT FUND C000018353 SIIT EMERGING MARKETS DEBT FUND - CLASS A SEDAX 0000939934 S000006765 SIIT WORLD EQUITY EX-US FUND C000018354 SIIT WORLD EQUITY EX-US FUND - CLASS A WEUSX 0000939934 S000006766 SIIT CORE FIXED INCOME C000018355 SIIT CORE FIXED INCOME - CLASS A SCOAX 0000939934 S000006767 SIIT LARGE CAP FUND C000018356 SIIT LARGE CAP FUND - CLASS A SLCAX 0000939934 S000006768 SIIT LARGE CAP INDEX FUND C000018357 SIIT LARGE CAP INDEX FUND - CLASS A LCIAX 0000939934 S000006769 SIIT LARGE CAP DISCIPLINED EQUITY FUND C000018358 SIIT LARGE CAP DISCIPLINED EQUITY FUND - CLASS A SCPAX 0000939934 S000006770 SIIT SMALL MID CAP EQUITY FUND C000018359 SIIT SMALL MID CAP EQUITY FUND - CLASS A SSMAX 0000939934 S000006772 SIIT SMALL CAP FUND C000018361 SIIT SMALL CAP FUND - CLASS A SLPAX 0000939934 S000010543 SIIT LARGE CAP DIVERSIFIED ALPHA FUND C000029091 SIIT LARGE CAP DIVERSIFIED ALPHA FUND - CLASS A SCDAX 0000939934 S000010881 SIIT EMERGING MARKETS EQUITY FUND C000030145 SIIT EMERGING MARKETS EQUITY FUND - CLASS A 0000939934 S000010882 SIIT GLOBAL EQUITY FUND C000030146 SIIT GLOBAL EQUITY FUND - CLASS A 0000939934 S000013605 SIIT U.S. Managed Volatility Fund C000036888 SIIT U.S. Managed Volatility Fund - Class A SVYAX 0000939934 S000013606 SIIT Real Return Fund C000036889 SIIT Real Return Fund - Class A RRPAX 0000939934 S000014581 SIIT Enhanced LIBOR Opportunities Fund C000039813 SIIT Enhanced LIBOR Opportunities Fund - Class A ENIAX 0000939934 S000019597 SIIT Screened World Equity Ex-US Fund C000054521 SIIT Screened World Equity Ex-US Fund - Class A SSEAX 0000939934 S000026677 SIIT Strategic U.S. Large Cap Equity Fund C000080075 Class A 0000939934 S000027147 SIIT Dynamic Asset Allocation Fund C000081914 SIIT Dynamic Asset Allocation Fund - Class A SDLAX 0000939934 S000031047 SIIT Ultra Short Duration Bond Fund C000096276 SIIT Ultra Short Duration Bond Fund - Class A SUSAX 0000939934 S000033123 SIIT Multi-Asset Real Return Fund C000102014 SIIT Multi-Asset Real Return Fund - Class A SEIAX 0000939934 S000035814 SIIT Extended Market Index Fund C000109763 Class A 0000939934 S000036633 SIIT Small Cap II Fund C000111997 Class A 0000939934 S000036875 SIIT Long Duration Corporate Bond Fund C000112815 Class A 485BPOS 1 a12-17350_5485bpos.htm POST-EFFECTIVE AMENDMENT FILED PURSUANT TO SECURITIES ACT RULE 485(B)

 

As filed with the Securities and Exchange Commission on October 19, 2012

File No. 033-58041

File No. 811-07257

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-1A

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 

POST-EFFECTIVE AMENDMENT NO. 69

 

and

 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

 

AMENDMENT NO. 70

 

SEI INSTITUTIONAL INVESTMENTS TRUST

(Exact Name of Registrant as Specified in Charter)

 

SEI Investments Company
One Freedom Valley Drive
Oaks, Pennsylvania 19456

(Address of Principal Executive Offices)

 

(610) 676-1000

 

Timothy D. Barto
SEI Investments Company
One Freedom Valley Drive
Oaks, Pennsylvania 19456

(Name and Address of Agent for Service)

 

Copy to:

 

Timothy W. Levin, Esquire
Morgan, Lewis & Bockius LLP
1701 Market Street
Philadelphia, PA 19103

 

Title of Securities Being Registered. . .Units of Beneficial Interest

 

It is proposed that this filing become effective (check appropriate box)

 

x

immediately upon filing pursuant to paragraph (b)

o

on [date] pursuant to paragraph (b)

o

60 days after filing pursuant to paragraph (a)(1)

o

on [date] pursuant to paragraph (a)(1)

o

75 days after filing pursuant to paragraph (a)(2)

o

on [date] pursuant to paragraph (a)(2) of Rule 485.

 

If appropriate, check the following box:

 

o

This post-effective Amendment designates a new effective date for a previously filed Post-Effective Amendment.

 

 

 



 

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 effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933, as amended, and has duly caused this Post-Effective Amendment No. 69 to Registration Statement No. 033-58041 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Oaks, Commonwealth of Pennsylvania on the 19th day of October, 2012.

 

 

 

 

SEI INSTITUTIONAL INVESTMENTS TRUST

 

 

 

 

 

By:

/s/ Robert A. Nesher

 

 

Robert A. Nesher

 

 

Trustee, President & Chief Executive Officer

 

Pursuant to the requirements of the Securities Act of 1933, as amended, this Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the date(s) indicated.

 

*

 

Trustee

 

October 19, 2012

Rosemarie B. Greco

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

October 19, 2012

William M. Doran

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

October 19, 2012

George J. Sullivan, Jr.

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

October 19, 2012

Nina Lesavoy

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

October 19, 2012

James M. Williams

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

October 19, 2012

Mitchell A. Johnson

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

October 19, 2012

Hubert L. Harris, Jr.

 

 

 

 

 

 

 

 

 

/s/ Robert A. Nesher

 

Trustee, President & Chief Executive Officer

 

October 19, 2012

Robert A. Nesher

 

 

 

 

 

 

 

 

/s/ Peter A. Rodriguez

 

Controller & Chief Financial Officer

 

October 19, 2012

Peter A. Rodriguez

 

 

 

 

 

 

 

 

*By:

/s/

Robert A. Nesher

 

 

 

 

 

 

Robert A. Nesher

 

 

 

 

 

 

Attorney-in-Fact

 

 

 

 

 



 

INDEX TO EXHIBITS

 

EXHIBIT NO.

 

DESCRIPTION OF EXHIBIT

 

PAGE NO.

 

 

 

 

 

 

 

Risk/return summary of each Fund’s prospectus as an Interactive Data File using eXtensible Business Reporting Language (“XBRL”)

 

 

 


EX-101.INS 2 ck0000939934-20120531.xml XBRL INSTANCE DOCUMENT 485BPOS 2012-05-31 0000939934 2012-09-30 SEI INSTITUTIONAL INVESTMENTS TRUST false 2012-09-28 2012-09-30 <tt>The Fund will incur transaction costs, such as commissions, when it buys and<br />sells securities (or "turns over" its portfolio). A higher portfolio turnover<br />rate may indicate higher transaction costs and may result in higher taxes when<br />Fund shares are held in a taxable account. These costs, which are not reflected<br />in annual Fund operating expenses or in the Example, affect the Fund's performance.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000036875Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Return characteristics similar to those of high quality corporate bonds.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>Under normal circumstances, the Long Duration Corporate Bond Fund will invest at<br />least 80% of its net assets (plus the amount of any borrowings for investment<br />purposes) in long duration corporate fixed income securities, exchange-traded<br />funds (ETFs) that track long duration corporate bond indices, and synthetic<br />instruments or derivatives having economic characteristics similar to long<br />duration corporate fixed income securities.<br />&#xA0;&#xA0;<br />The Fund will invest primarily in U.S. and foreign investment grade fixed income<br />instruments, including corporate bonds and unrated fixed income securities that<br />the Adviser or Sub-Advisers determined to be equivalent in quality. The Fund may<br />also invest a portion of its assets in municipal bonds, fixed income securities<br />issued by both developing and emerging foreign sovereigns, obligations of<br />supranational entities, and securities issued or guaranteed by the U.S. Government <br />and its agencies and instrumentalities. To a lesser extent, the Fund may also <br />invest in ETFs to gain exposure to a particular portion of the market while <br />awaiting an opportunity to purchase securities directly.<br /> <br />The Fund may also invest in futures contracts and swaps for speculative or<br />hedging purposes. Futures and swaps are used to synthetically obtain exposure to<br />securities or baskets of securities and to manage the Fund's interest rate<br />duration and yield curve exposure. These derivatives are also used to mitigate<br />the Fund's overall level of risk and/or the Fund's risk to particular types of<br />securities, currencies or market segments. Interest rate swaps are further used<br />to manage the Fund's interest rate risk and spread sensitivity. When the Fund<br />seeks to take an active long or short position with respect to the likelihood of<br />an event of default of a security or basket of securities, the Fund may use<br />credit default swaps. The Fund may buy credit default swaps in an attempt to<br />manage credit risk where the Fund has credit exposure to an issuer and the Fund<br />may sell credit default swaps to more efficiently gain credit exposure to such<br />security or basket of securities.<br /> <br />Under normal circumstances, the Fund is expected to maintain an effective<br />average duration of between nine and sixteen years. Duration is a measure that is <br />used to determine the sensitivity of a security's price to changes in interest <br />rates. For each year of duration of a fixed income security, a 1% change in <br />interest rates will result in an approximately 1% change in the value of the <br />security. For example, a duration of ten years means that the fixed income <br />security's price will change by approximately 10% if interest rates change by 1%.<br /><br />The Fund uses one or more Sub-Advisers to manage the Fund's portfolio under the<br />general supervision of SIMC. The Sub-Advisers are selected for their expertise<br />in managing various kinds of fixed income securities, and the Sub-Advisers make<br />investment decisions based on an analysis of yield trends, credit ratings and<br />other factors in accordance with their particular discipline.</tt> LONG DURATION CORPORATE BOND FUND EXAMPLE Other expenses are based on estimated amounts for the current fiscal year. Because the Fund did not have a full calendar year of performance as of September 30, 2012, performance results have not been provided. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs may be higher or lower, based on these assumptions your costs would be: Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Corporate Fixed Income Securities Risk - Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Derivatives Risk - The Fund's use of futures contracts and swaps is subject to<br />market risk, leverage risk, correlation risk and liquidity risk. Leverage risk<br />and liquidity risk are described below. Market risk is the risk that the market<br />value of an investment may move up and down, sometimes rapidly and unpredictably. <br />Correlation risk is the risk that changes in the value of the derivative may not <br />correlate perfectly with the underlying asset, rate or index. The Fund's use of <br />swap agreements is also subject to credit risk and valuation risk. Valuation risk <br />is the risk that the derivative may be difficult to value and/or valued incorrectly. <br />Credit risk is described above. Each of these risks could cause the Fund to lose <br />more than the principal amount invested in a derivative instrument.<br />&#xA0;&#xA0;<br />Duration Risk - The longer-term securities in which the Fund may invest are more<br />volatile. A portfolio with a longer average portfolio duration is more sensitive<br />to changes in interest rates than a portfolio with a shorter average portfolio<br />duration.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities<br />will decrease in value if interest rates rise and vice versa. In the case of<br />foreign securities, price fluctuations will reflect international economic and<br />political events, as well as changes in currency valuations relative to the U.S.<br />dollar.<br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements and different legal, regulatory<br />and tax environments. These additional risks may be heightened with respect to<br />emerging market countries since political turmoil and rapid changes in economic<br />conditions are more likely to occur in these countries.<br /> <br />Foreign Sovereign Debt Securities Risk - The risks that (i) the governmental<br />entity that controls the repayment of sovereign debt may not be willing or able<br />to repay the principal and/or interest when it becomes due, due to factors such<br />as debt service burden, political constraints, cash flow problems and other<br />national economic factors; (ii) governments may default on their debt securities, <br />which may require holders of such securities to participate in debt rescheduling <br />or additional lending to defaulting governments; and (iii) there is no bankruptcy <br />proceeding by which defaulted sovereign debt may be collected in whole or in part.<br /> <br />Interest Rate Risk - The risk that the Fund's yield will decline due to falling<br />interest rates. A rise in interest rates typically causes a fall in values of<br />fixed income securities in which the Fund invests, while a fall in interest<br />rates typically causes a rise in values in such securities.<br /> <br />Investment Style Risk - The risk that longer duration corporate fixed income<br />securities may underperform other segments of the fixed income markets or the<br />fixed income markets as a whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment opportunity, <br />any of which could have a negative effect on Fund management or performance.<br /> <br />Municipal Securities Risk - Municipal securities, like other fixed income securities, <br />rise and fall in value in response to economic and market factors, primarily changes <br />in interest rates, and actual or perceived credit quality. Rising interest rates will <br />generally cause municipal securities to decline in value. Longer-term securities <br />respond more sharply to interest rate changes than do shorter-term securities. A <br />municipal security will also lose value if, due to rating downgrades or other factors, <br />there are concerns about the issuer's current or future ability to make principal or<br />interest payments. State and local governments rely on taxes and, to some extent, <br />revenues from private projects financed by municipal securities, to pay interest and <br />principal on municipal debt. Poor statewide or local economic results or changing <br />political sentiments may reduce tax revenues and increase the expenses of municipal <br />issuers, making it more difficult for them to meet their obligations. Actual or <br />perceived erosion of the creditworthiness of municipal issuers may reduce the value <br />of the Fund's holdings. As a result, the Fund will be more susceptible to factors <br />that adversely affect issuers of municipal obligations than a mutual fund that does <br />not have as great a concentration in municipal obligations.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and sell <br />securities frequently. This may result in higher transaction costs and additional <br />capital gains tax liabilities.<br /> <br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />U.S. Government Securities Risk - Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The Fund commenced operations on June 29, 2012. Because the Fund did not have a<br />full calendar year of performance as of September 30, 2012, performance results<br />have not been provided.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000036875Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 41 128 0.0010 0.0030 0.00 0.0040 <tt>The Fund will pay transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund shares <br />are held in a taxable account. These costs, which are not reflected in annual <br />Fund operating expenses or in the Example, affect the Fund's performance. During <br />the most recent fiscal year, for the period April 10, 2012 through May 31, 2012, <br />the Fund's annualized portfolio turnover rate was 9% of the average value of its <br />portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000036633Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>Under normal circumstances, the Small Cap II Fund will invest at least 80% of<br />its net assets (plus the amount of any borrowings for investment purposes) in<br />equity securities of small companies. For purposes of this Fund, a small company<br />is a company with a market capitalization in the range of companies in the<br />Russell 2000 Index (between $30.7 million and $3.67 billion as of July 31, 2012)<br />at the time of purchase. The market capitalization range and the composition <br />of the Russell 2000 Index are subject to change. The Fund's investments in equity<br />securities may include common and preferred stocks and, to a lesser extent,<br />securities of real estate investment trusts (REITs) and securities of large<br />capitalization companies.<br /> <br />The Fund uses a multi-manager approach, relying upon one or more sub-advisers<br />(each, a Sub-Adviser and collectively, the Sub-Advisers) with differing<br />investment philosophies to manage portions of the Fund's portfolio under the<br />general supervision of SIMC. Each Sub-Adviser, in managing its portion of the<br />Fund's assets, generally applies a growth-oriented, a value-oriented or a<br />blended approach to selecting investments. Growth-oriented managers generally<br />select stocks they believe have attractive growth and appreciation potential in<br />light of such characteristics as revenue and earnings growth, expectations from<br />sell-side analysts and relative valuation, while value-oriented managers<br />generally select stocks they believe are attractively valued in light of<br />fundamental characteristics such as earnings, capital structure and/or return on<br />invested capital.</tt> SMALL CAP II FUND EXAMPLE Other expenses are based on estimated amounts for the current fiscal year. Because the Fund did not have a full calendar year of performance as of September 30, 2012, performance results have not been provided. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.09 Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Investment Style Risk - The risk that the securities in which the Fund principally <br />invests may underperform other segments of the equity markets or the equity markets <br />as a whole.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the seller would like. The seller may<br />have to lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Market Risk - The risk that the market value of a security may move up and down,<br />sometimes rapidly and unpredictably. Market risk may affect a single issuer, an<br />industry, a sector or the equity market as a whole.<br /> <br />Opportunity Risk - The risk of missing out on an investment opportunity because<br />the assets necessary to take advantage of it are tied up in other investments.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />REITs Risk - REITs are trusts that invest primarily in commercial real estate or<br />real estate-related loans. The Fund's investments in REITs will be subject to<br />the risks associated with the direct ownership of real estate. Risks commonly<br />associated with the direct ownership of real estate include fluctuations in the<br />value of underlying properties, defaults by borrowers or tenants, changes in<br />interest rates and risks related to general or local economic conditions. Some<br />REITs may have limited diversification and may be subject to risks inherent in<br />financing a limited number of properties.<br /> <br />Small Capitalization Risk - The small capitalization companies in which the Fund<br />invests may be more vulnerable to adverse business or economic events than larger, <br />more established companies. In particular, smaller capitalization companies may <br />have limited product lines, markets and financial resources and may depend upon <br />a relatively small management group. Therefore, small capitalization stocks may <br />be more volatile than those of larger companies. Small capitalization stocks may <br />be traded over-the-counter or listed on an exchange.<br /><br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The Fund commenced operations on April 10, 2012. Because the Fund did not have a<br />full calendar year of performance as of September 30, 2012, performance results<br />have not been provided.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000036633Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 80 249 0.0013 0.0065 0.00 0.0078 <tt>The Fund will pay transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund shares <br />are held in a taxable account. These costs, which are not reflected in annual Fund <br />operating expenses or in the Example, affect the Fund's performance.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000035814Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Seeks investment results that approximate, as closely as practicable and before<br />expenses, the performance of the Russell Small Cap Completeness&#xAE; Index.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>The Fund is managed using a passive/indexing investment approach and invests<br />substantially all of its assets in securities (mostly common stocks) of companies <br />that are included (at the time of purchase) in the Russell Small Cap Completeness&#xAE; <br />Index (the Index). As of July 31, 2012, the market capitalization of the companies <br />included in the Index ranged from $30.7 million to $30.9 billion. The Index is <br />composed of securities of the companies included in the Russell 3000&#xAE; Index (which <br />includes the largest 3,000 U.S. companies), excluding the securities of companies <br />that are constituents of the S&amp;P 500 Index (which includes 500 leading U.S. <br />companies). The Index is constructed to attempt to provide a comprehensive and <br />unbiased barometer of the extended broad market of U.S. equity securities beyond <br />that of the 500 leading U.S. companies included in the S&amp;P 500 Index. The market <br />capitalization range and the composition of the Index are subject to change.<br /> <br />The Fund generally will attempt to invest in securities (including interests of<br />real estate investment trusts (REITs)) composing the Index in approximately the<br />same proportions as they are represented in the Index. The Fund's ability to<br />fully replicate the performance of the Index will depend to some extent on the<br />size and timing of cash flows into and out of the Fund, as well as on the level<br />of the Fund's expenses. In some cases, it may not be possible or practicable to<br />purchase all of the securities composing the Index or to hold them in the same<br />weightings as they are represented in the Index. In those cases, the Fund's<br />sub-adviser (the Sub-Adviser) may employ a sampling or optimization technique to<br />construct the Fund's portfolio. In seeking to replicate the performance of the<br />Index, the Fund may also invest in exchange-traded funds (ETFs) and REITs that<br />are not constituents of the Index.<br /> <br />The Sub-Adviser selects the Fund's securities under the general supervision of<br />SEI Investments Management Corporation, the Fund's adviser (SIMC), but the<br />Sub-Adviser makes no attempt to "manage" the Fund in the traditional sense<br />(i.e., by using economic, market or financial analyses). Instead, the<br />Sub-Adviser purchases a basket of securities that includes most of the companies<br />in the Index. However, the Sub-Adviser may sell an investment if the merit of<br />the investment has been substantially impaired by extraordinary events or<br />adverse financial conditions.<br /><br />The Fund may, at times, purchase or sell index futures contracts, or options on<br />those futures, or engage in forward or swap transactions in lieu of investing<br />directly in the securities making up the Index or to enhance the Fund's replication <br />of the Index's return. In addition, for liquidity purposes, the Fund may invest in <br />securities that are not included in the Index, cash and cash equivalents or money <br />market instruments, such as reverse repurchase agreements and money market funds. <br />The Fund's return may not match the return of the Index.<br /><br />Russell Investment Group is the source and owner of the trademarks, service marks <br />and copyrights related to Russell Indexes. Russell Small Cap Completeness&#xAE; Index <br />and Russell 3000&#xAE; Index are trademarks of Russell Investment Group.</tt> EXTENDED MARKET INDEX FUND EXAMPLE Other expenses are based on estimated amounts for the current fiscal year. As of September 30, 2012, the Fund had not yet commenced operations and did not have a performance history. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs may be higher or lower, based on these assumptions your costs would be: Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Derivatives Risk - The Fund's use of futures, forwards, options and swaps is<br />subject to market risk, leverage risk, correlation risk and liquidity risk.<br />Market risk, leverage risk and liquidity risk are described below. Correlation<br />risk is the risk that changes in the value of the derivative may not correlate<br />perfectly with the underlying asset, rate or index. The Fund's use of forwards<br />and swap agreements is also subject to credit risk and valuation risk. Valuation<br />risk is the risk that the derivative may be difficult to value and/or valued <br />incorrectly. Credit risk is the risk that the issuer of a security or the <br />counterparty to a contract will default or otherwise become unable to honor a <br />financial obligation. Each of these risks could cause the Fund to lose more than <br />the principal amount invested in a derivative instrument.<br /> <br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Investment Style Risk - The risk that the Fund's investment approach, which<br />attempts to replicate the performance of the Index, may underperform other<br />segments of the equity markets or the equity markets as a whole. The Fund is<br />also subject to the risk that the securities in which it invests may<br />underperform other segments of the equity markets or the equity markets as a<br />whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the seller would like. The seller may<br />have to lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Market Risk - The risk that the market value of a security may move up and down,<br />sometimes rapidly and unpredictably. Market risk may affect a single issuer, an<br />industry, a sector or the equity market as a whole.<br /> <br />Opportunity Risk - The risk of missing out on an investment opportunity because<br />the assets necessary to take advantage of it are tied up in other investments.<br /> <br />REITs Risk - REITs are trusts that invest primarily in commercial real estate or<br />real estate-related loans. The Fund's investments in REITs will be subject to<br />the risks associated with the direct ownership of real estate. Risks commonly<br />associated with the direct ownership of real estate include fluctuations in the<br />value of underlying properties, defaults by borrowers or tenants, changes in<br />interest rates and risks related to general or local economic conditions. Some<br />REITs may have limited diversification and may be subject to risks inherent in<br />financing a limited number of properties.<br /> <br />Sampling Risk - The Fund may not fully replicate the Index and may hold securities <br />not included in the Index. As a result, the Fund may not track the return of the <br />Index as well as it would have if the Fund purchased all of the securities in the <br />Index.<br /> <br />Small and Medium Capitalization Risk - The small and medium capitalization<br />companies in which the Fund invests may be more vulnerable to adverse business<br />or economic events than larger, more established companies. In particular, small<br />and medium capitalization companies may have limited product lines, markets and<br />financial resources and may depend upon a relatively small management group.<br />Therefore, small and medium capitalization stocks may be more volatile than<br />those of larger companies. Small and medium capitalization stocks may be traded<br />over-the-counter or listed on an exchange.<br /> <br />Tracking Error Risk - The risk that the Fund's performance may vary substantially <br />from the performance of the Index as a result of cash flows, Fund expenses, <br />imperfect correlation between the Fund's and Index's investments and other factors.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>As of September 30, 2012, the Fund had not yet commenced operations and did not<br />have a performance history.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000035814Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 28 87 0.0015 0.0012 0.00 0.0027 The Fund is non-diversified, which means that it may invest in the securities of relatively few issuers. As a result, the Fund may be more susceptible to a single adverse economic or political occurrence affecting one or more of these issuers and may experience increased volatility due to its investments in those securities. <tt>The Fund will pay transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund shares <br />are held in a taxable account. These costs, which are not reflected in annual <br />Fund operating expenses or in the Example, affect the Fund's performance. During <br />the most recent fiscal year, for the period July 29, 2011 through May 31, 2012, <br />the Fund's annualized portfolio turnover rate was 58% of the average value of its <br />portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000033123Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Total return exceeding the rate of inflation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>The Fund uses a multi-manager approach under the general supervision of SIMC,<br />allocating its assets among one or more Sub-Advisers using different investment<br />strategies designed to produce a total return that exceeds the rate of inflation<br />in the U.S. SIMC may also directly manage a portion of the Fund's portfolio.<br /> <br />Under normal circumstances, the Fund will pursue its investment goal by selecting <br />investments from a broad range of asset classes, including fixed income and equity <br />securities and commodity linked instruments. The Fund seeks "real return" (i.e., <br />total returns that exceed the rate of inflation over a full market cycle, regardless <br />of market conditions). The Fund may invest in U.S. and non-U.S. dollar-denominated <br />securities.<br /> <br />Fixed income securities may include: (i) securities issued or guaranteed by the<br />U.S. Government and its agencies and instrumentalities and obligations of U.S.<br />and foreign commercial banks, such as certificates of deposit, time deposits,<br />bankers' acceptances and bank notes; (ii) obligations of foreign governments;<br />(iii) TIPS and other inflation-linked debt securities; (iv) U.S. and foreign<br />corporate debt securities, including commercial paper, and fully-collateralized<br />repurchase and reverse repurchase agreements with highly rated counterparties<br />(those rated A or better); and (v) securitized issues such as mortgage-backed<br />securities, asset-backed securities, commercial mortgage-backed securities and<br />collateralized debt obligations. The Fund may invest in debt securities of any<br />credit quality, including those rated below investment grade (junk bonds) or, if<br />unrated, of equivalent credit quality, as determined by the Fund's managers. The<br />Fund may invest in securities with a broad range of maturities. The Fund may<br />also enter into reverse repurchase agreements with respect to its investment in<br />TIPS. In an attempt to generate excess returns, when the Fund enters into such a<br />TIPS reverse repurchase agreement it will use the cash received to enter into a<br />short position on U.S. Treasury bonds.<br /> <br />Equity securities may include common or preferred stocks, warrants, rights,<br />depositary receipts, equity-linked securities and other equity interests. The<br />Fund may invest in securities of issuers of any market capitalization and may<br />invest in both foreign and domestic equity securities. In addition to direct<br />investment in securities and other instruments, the Fund may invest in<br />affiliated and unaffiliated funds, including open-end funds, closed-end funds<br />and ETFs (collectively, Underlying Funds). The Fund may also invest in REITs and<br />U.S. and non-U.S. real estate companies.<br /> <br />A portion of the Fund's assets may also be invested in commodity-linked<br />securities to provide exposure to the investment returns of the commodities<br />markets without investing directly in physical commodities. Commodity-linked<br />securities include notes with interest payments that are tied to an underlying<br />commodity or commodity index, ETFs or other exchange-traded products that are<br />tied to the performance of a commodity or commodity index or other types of<br />investment vehicles or instruments that provide returns that are tied to<br />commodities or commodity indices. The Fund may also invest in equity and debt<br />securities of issuers in commodity-related industries.<br /> <br />The Fund may also purchase or sell futures contracts, options, forward contracts<br />and swaps for return enhancement or hedging purposes. Futures contracts, forward<br />contracts and swaps are used to synthetically obtain exposure to securities or<br />baskets of securities and to manage the Fund's interest rate duration and yield<br />curve exposure. These derivatives are also used to mitigate the Fund's overall<br />level of risk and/or the Fund's risk to particular types of securities or market<br />segments. The Fund may purchase or sell futures contracts and options on U.S.<br />Government securities for return enhancement.<br />&#xA0;&#xA0;<br />Interest rate swaps are further used to manage the Fund's interest rate risk.<br />Swaps on indices are used to manage the inflation-adjusted return of the Fund.<br />The Fund may buy credit default swaps in an attempt to manage credit risk where<br />the Fund has credit exposure to an issuer, and the Fund may sell credit default<br />swaps to more efficiently gain credit exposure to a security or basket of<br />securities.<br /> <br />The Sub-Advisers may seek to enhance the Fund's return by actively managing the<br />Fund's currency exposure. In managing the Fund's currency exposure, the<br />Sub-Advisers may buy and sell currencies (i.e., take long or short positions)<br />through the use of cash, securities and/or currency-related derivatives,<br />including, without limitation, currency forward contracts, futures contracts,<br />swaps and options. The Fund may take long and short positions in foreign<br />currencies in excess of the value of the Fund's assets denominated in a<br />particular currency or when the Fund does not own assets denominated in that<br />currency. The Fund may also engage in currency transactions in an attempt to<br />take advantage of certain inefficiencies in the currency exchange market, to<br />increase their exposure to a foreign currency or to shift exposure to foreign<br />currency fluctuations from one currency to another.<br /> <br />Due to its investment strategy, the Fund may buy and sell securities frequently.</tt> MULTI-ASSET REAL RETURN FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE Other expenses are based on estimated amounts for the current fiscal year. Because the Fund did not have a full calendar year of performance as of September 30, 2012, performance results have not been provided. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.58 Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>The success of the Fund's investment strategy depends both on SIMC's selection<br />of the Underlying Funds and Sub-Advisers and allocating assets to such Underlying <br />Funds and Sub-Advisers. SIMC, an Underlying Fund or Sub-Advisers may be incorrect <br />in assessing market trends or the value or growth capability of particular <br />securities or asset classes. In addition, the methodology by which SIMC allocates <br />the Fund's assets to the Underlying Funds and Sub-Advisers may not achieve desired <br />results and may cause the Fund to lose money or underperform other comparable <br />mutual funds.<br /> <br />The Fund, Underlying Funds and Sub-Advisers may apply any of a variety of<br />investment strategies and may invest in a broad range of asset classes, securities <br />and other investments to achieve their designated investment strategies. The <br />principal risks of using such investment strategies and making investments in such <br />asset classes, securities and other investments are set forth below. Because an <br />Underlying Fund's use of an investment strategy or investment in an asset class, <br />security or other investment is subject to the same or similar risks as the Fund's <br />use of such strategy or investment in such asset class, security or other investment, <br />the term "the Fund" in the paragraphs below collectively refers to both the Fund <br />and each Underlying Fund.<br /> <br />Asset-Backed Securities Risk - Payment of principal and interest on asset-backed<br />securities is dependent largely on cash flows generated by the assets backing<br />the securities, and asset-backed securities may not have the benefit of any<br />security interest in the related assets.<br /> <br />Below Investment Grade Securities Risk - Fixed income securities rated below<br />investment grade (junk bonds) involve greater risks of default or downgrade and<br />are more volatile than investment grade securities because the prospect for<br />repayment of principal and interest of many of these securities is speculative.<br /> <br />Commodity-Linked Securities Risk - Investments in commodity-linked securities<br />may be more volatile and less liquid than direct investments in the underlying<br />commodities themselves. Commodity-related equity returns can also be affected by<br />the issuer's financial structure or the performance of unrelated businesses.<br />&#xA0;&#xA0;<br />Corporate Fixed Income Securities Risk - Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as to perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk - As a result of the Fund's investments in securities or other<br />investments denominated in, and/or receiving revenues in, foreign currencies and<br />the Fund's active management of its currency exposures, the Fund will be subject<br />to currency risk. Currency risk is the risk that foreign currencies will decline<br />in value relative to the U.S. dollar or, in the case of hedging positions, that<br />the U.S. dollar will decline in value relative to the currency hedged. In either<br />event, the dollar value of an investment in the Fund would be adversely affected. <br />Due to the Fund's active positions in currencies, it will be subject to the risk <br />that currency exchange rates may fluctuate in response to, among other things, <br />changes in interest rates, intervention (or failure to intervene) by U.S. or <br />foreign governments, central banks or supranational entities, or by the <br />imposition of currency controls or other political developments in the United <br />States or abroad.<br /> <br />Derivatives Risk - The Fund's use of futures contracts, forward contracts,<br />options and swaps is subject to market risk, leverage risk, correlation risk and<br />liquidity risk. Leverage risk, liquidity risk and market risk are described<br />below. Correlation risk is the risk that changes in the value of the derivative<br />may not correlate perfectly with the underlying asset, rate or index. The Fund's<br />use of forward contracts and swap agreements is also subject to credit risk and<br />valuation risk. Valuation risk is the risk that the derivative may be difficult<br />to value and/or may be valued incorrectly. Credit risk is described above. Each<br />of these risks could cause the Fund to lose more than the principal amount<br />invested in a derivative instrument.<br /> <br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities<br />will decrease in value if interest rates rise and vice versa. In the case of<br />foreign securities, price fluctuations will reflect international economic and<br />political events, as well as changes in currency valuations relative to the U.S.<br />dollar.<br /> <br />Foreign Issuer Risk - The risk that issuers in foreign countries face political<br />and economic events unique to those countries. These events will not necessarily<br />affect the U.S. economy or similar issuers located in the U.S.<br /> <br />Inflation Protected Securities Risk - The value of inflation protected securities, <br />including TIPS, will generally fluctuate in response to changes in "real" interest <br />rates, decreasing when real interest rates rise and increasing when real interest <br />rates fall. Real interest rates represent nominal (or stated) interest rates <br />reduced by the expected impact of inflation. In addition, interest payments on <br />inflation-indexed securities will generally vary up or down along with the rate of <br />inflation.<br />&#xA0;&#xA0;<br />Interest Rate Risk - The risk that the Fund's yield will decline due to falling<br />interest rates. A rise in interest rates typically causes a fall in the value of<br />fixed income securities in which the Fund invests, while a fall in interest<br />rates typically causes a rise in the value of such securities.<br /> <br />Investment Company Risk - When the Fund invests in an investment company, it<br />will bear a pro rata portion of the investment company's expenses in addition to<br />directly bearing the expenses associated with its own operations. Furthermore,<br />while the risks of owning shares of an investment company generally reflect the<br />risks of owning the underlying investments of the investment company, the Fund<br />may be subject to additional or different risks than if the Fund had invested<br />directly in the underlying investments. For example, the lack of liquidity in an<br />ETF could result in its value being more volatile than that of the underlying<br />portfolio securities.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not otherwise be advantageous to do so in order to<br />satisfy its obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment opportunity, <br />any of which could have a negative effect on Fund management or performance.<br /> <br />Market Risk - The risk that the market value of a security may move up and down,<br />sometimes rapidly and unpredictably. Market risk may affect a single issuer, an<br />industry, a sector or the bond market as a whole.<br /> <br />Mortgage-Backed Securities Risk - Mortgage-backed securities are affected by,<br />among other things, interest rate changes and the possibility of prepayment of<br />the underlying mortgage loans. Mortgage-backed securities are also subject to<br />the risk that underlying borrowers will be unable to meet their obligations.<br /> <br />Non-Diversified Risk - The Fund is non-diversified, which means that it may<br />invest in the securities of relatively few issuers. As a result, the Fund may be<br />more susceptible to a single adverse economic or political occurrence affecting<br />one or more of these issuers and may experience increased volatility due to its<br />investments in those securities.<br /> <br />Opportunity Risk - The risk of missing out on an investment opportunity because<br />the assets necessary to take advantage of it are tied up in other investments.<br /> <br />Prepayment Risk - The risk that, with declining interest rates, fixed income<br />securities with stated interests may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Real Estate Industry Risk - Securities of companies principally engaged in the<br />real estate industry may be subject to the risks associated with direct ownership <br />of real estate, including fluctuations in the value of underlying properties and <br />defaults by borrowers or tenants, changes in interest rates and risks related to <br />general or local economic conditions.<br />&#xA0;&#xA0;<br />REITs Risk - REITs are trusts that invest primarily in commercial real estate or<br />real estate-related loans. The Fund's investments in REITs will be subject to<br />the risks associated with the direct ownership of real estate. Risks commonly<br />associated with the direct ownership of real estate are described above. Some<br />REITs may have limited diversification and may be subject to risks inherent in<br />financing a limited number of properties.<br /> <br />Small and Medium Capitalization Risk - The small and medium capitalization<br />companies in which the Fund invests may be more vulnerable to adverse business<br />or economic events than larger, more established companies. In particular,<br />smaller companies may have limited product lines, markets and financial<br />resources and may depend upon a relatively small management group. Therefore,<br />small capitalization and medium capitalization stocks may be more volatile than<br />those of larger companies. Small capitalization stocks may be traded over the<br />counter or listed on an exchange.<br /> <br />U.S. Government Securities Risk - Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The Fund commenced operations on July 29, 2011. Because the Fund did not have a<br />full calendar year of performance as of September 30, 2012, performance results<br />have not been provided.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000033123Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> SEIAX 79 246 954 428 0.0011 0.0055 0.00 0.0077 0.0011 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs affect the Fund's performance.<br />During the most recent fiscal year, the Fund's annualized portfolio turnover<br />rate was 222% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000031047Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Provide higher current income than that typically offered by a money market fund<br />while maintaining a high degree of liquidity and a correspondingly higher risk<br />of principal volatility.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>Under normal circumstances, the Ultra Short Duration Bond Fund invests at least<br />80% of its net assets (plus the amount of any borrowings for investment purposes) <br />in investment grade U.S. dollar-denominated debt instruments, including: (i) <br />commercial paper and other corporate obligations; (ii) certificates of deposit, <br />time deposits, bankers' acceptances, bank notes and other obligations of U.S. <br />savings and loan and thrift institutions, U.S. commercial banks (including <br />foreign branches of such banks) and foreign banks that meet certain asset <br />requirements; (iii) U.S. Treasury obligations and obligations issued or <br />guaranteed as to principal and interest by agencies or instrumentalities of the <br />U.S. Government; (iv) mortgage-backed securities; (v) asset-backed securities; <br />(vi) fully-collateralized repurchase agreements involving any of the foregoing<br />obligations; and (vii) U.S. dollar-denominated instruments of foreign issuers.<br />In addition, the Fund may invest in futures contracts, options, swaps and other<br />similar instruments. The primary derivatives used by the Fund are futures<br />contracts, options, interest rate swaps and credit default swaps. The Fund will<br />primarily use futures contracts for hedging purposes to manage the Fund's<br />exposure to interest rate risk. There will be times when the Fund utilizes<br />futures contracts to take an active position to either add or reduce the<br />interest rate sensitivity of the Fund. The Fund will primarily use options and<br />swaps to either mitigate the Fund's overall level of risk or to gain exposure to<br />a particular fixed income security or segment of the fixed income market.<br /> <br />Using a top-down strategy and bottom-up security selection, the Sub-Adviser<br />seeks attractively-valued securities that offer competitive yields and that are<br />issued by issuers that are on a sound financial footing. The Sub-Adviser also<br />considers factors such as the anticipated level of interest rates, relative<br />valuations and yield spreads among various sectors and the duration of the<br />Fund's entire portfolio. Duration measures the price sensitivity of a fixed<br />income security to changes in interest rates. For example, a five-year duration<br />means that the fixed income security will decrease in value by 5% if interest<br />rates rise 1% and increase in value by 5% if interest rates fall 1%. While the<br />Fund may invest in securities with any maturity or duration, the Fund will<br />maintain a portfolio duration of 18 months or less under normal market<br />conditions.<br /> <br />To achieve its investment goal, the Fund may invest in one or more SEI-sponsored<br />funds to pursue its investment strategies in an efficient manner. The Fund may<br />invest in a SEI-sponsored fund only if the SEI-sponsored fund invests in securities <br />and pursues investment strategies that are consistent with the Fund's investment <br />goal and strategy.</tt> ULTRA SHORT DURATION BOND FUND EXAMPLE Because the Fund did not have a full calendar year of performance as of September 30, 2012, performance results have not been provided. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 2.22 Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Asset-Backed Securities Risk - Payment of principal and interest on asset-backed<br />securities is dependent largely on the cash flows generated by the assets backing <br />the securities, and asset-backed securities may not have the benefit of any <br />security interest in the related assets.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial obligation.<br /> <br />Derivatives Risk - The Fund's use of futures contracts, options, interest rate<br />swaps and credit default swaps is subject to market risk, leverage risk,<br />correlation risk and liquidity risk. Leverage risk, liquidity risk and market<br />risk are described below. Correlation risk is the risk that changes in the value<br />of the derivative may not correlate perfectly with the underlying asset, rate or<br />index. The Fund's use of swap agreements is also subject to credit risk and<br />valuation risk. Valuation risk is the risk that the derivative may be difficult<br />to value and/or may be valued incorrectly. Credit risk is described above. Each<br />of these risks could cause the Fund to lose more than the principal amount<br />invested in a derivative instrument.<br /> <br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities will <br />decrease in value if interest rates rise and vice versa. In the case of foreign <br />securities, price fluctuations will reflect international economic and political <br />events, as well as changes in currency valuations relative to the U.S. dollar.<br />&#xA0;&#xA0;<br />Foreign Investment Risk - The risk that non-U.S. securities may be subject to<br />additional risk due to, among other things, political, social and economic<br />developments abroad, currency movements, and different legal, regulatory and tax<br />environments.<br /> <br />Investment Company Risk - When the Fund invests in an investment company, in<br />addition to directly bearing the expenses associated with its own operations, it<br />will bear a pro rata portion of the investment company's expenses. In addition,<br />while the risks of owning shares of an investment company generally reflect the<br />risks of owning the underlying investments of the investment company, the Fund<br />may be subject to additional or different risks than if the Fund had invested<br />directly in the underlying investments. For example, the lack of liquidity in an<br />ETF could result in its value being more volatile than the underlying portfolio<br />securities.<br /> <br />Investment Style Risk - The risk that short-duration fixed income securities may<br />underperform other segments of the fixed income markets or the fixed income<br />markets as a whole.<br /> <br />Interest Rate Risk - The risk that the Fund's yield will decline due to falling<br />interest rates. A rise in interest rates typically causes a fall in values of<br />fixed income securities in which the Fund invests, while a fall in interest<br />rates typically causes a rise in values of such securities.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the seller would like. The seller may<br />have to lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on fund management or<br />performance.<br /> <br />Market Risk - The risk that the market value of a security may move up and down,<br />sometimes rapidly and unpredictably. Market risk may affect a single issuer, an<br />industry, a sector or the bond market as a whole.<br /> <br />Mortgage-Backed Securities Risk - Mortgage-backed securities are affected by,<br />among other things, interest rate changes and the possibility of prepayment of<br />the underlying mortgage loans. Mortgage-backed securities are also subject to<br />the risk that underlying borrowers will be unable to meet their obligations.<br /> <br />Opportunity Risk - The risk of missing out on an investment opportunity because<br />the assets necessary to take advantage of it are tied up in other investments.<br /> <br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />U.S. Government Securities Risk - Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The Fund commenced operations on February 28, 2011. Because the Fund did not<br />have a full calendar year of performance as of September 30, 2012, performance<br />results have not been provided.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000031047Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> SUSAX 22 68 268 118 0.0006 0.0015 0.00 0.0021 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 140%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000027147Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000027147Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Long-term total return.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for frees, expenses or taxes <tt>The Fund employs a dynamic asset allocation investment strategy, seeking to<br />achieve its investment objective through a risk-controlled, disciplined process<br />that is designed to attempt to capture returns from short- and intermediate-term<br />market anomalies that may arise in particular asset classes within a broad range<br />of possible asset classes.<br /> <br />The Fund seeks to generate total return over time by selecting investments from<br />among a broad range of asset classes based upon SEI Investments Management<br />Corporation's (SIMC or the Adviser) expectations of risk and return. The asset<br />classes used and the Fund's allocations among those asset classes are determined<br />based on SIMC's views of fundamental, technical or valuation measures. The Fund's <br />allocations among asset classes may be adjusted over short periods of time and at <br />any particular point in time the Fund may be diversified across many asset classes <br />or concentrated in a limited number of asset classes, including possibly a single <br />asset class.<br /> <br />The Fund uses a multi-manager approach under the general supervision of SIMC,<br />allocating its assets among one or more sub-advisers (each, a Sub-Adviser and<br />collectively, the Sub-Advisers) that will implement different investment strategies. <br />SIMC allocates Fund assets among one or more Sub-Advisers based on SIMC's <br />expectations of risk and return as informed by SIMC's views of fundamental, <br />technical or valuation measures. The Fund is also managed, in part, by SIMC.<br /> <br />The Fund may obtain its exposures to a particular asset class by investing<br />directly (e.g., in equity and fixed income securities and other instruments) or<br />indirectly (e.g., through the use of other pooled investment vehicles and<br />derivative instruments, principally futures contracts, forward contracts,<br />options and swaps). The particular types of securities and other instruments<br />that the Fund may invest in within a particular asset class are further<br />described below. The Fund may invest in particular securities or instruments<br />that are not specifically listed below, but which have similar characteristics<br />or represent similar exposures as those described below.<br /> <br />Equity Securities. The Fund may invest in equity securities, including common<br />stocks, preferred stocks, convertible securities, warrants and depositary<br />receipts of U.S. and non-U.S. issuers (including emerging markets) of various<br />market capitalizations and industries.<br /> <br />Fixed Income Securities. The Fund may invest in fixed income securities that are<br />investment or non-investment grade (also known as "junk bonds"), U.S.- or<br />foreign-issued (including emerging markets), and corporate- or government-issued. <br />The Fund's fixed income investments may include asset-backed securities, <br />mortgage-backed securities, collateralized debt obligations (CDOs) and <br />collateralized loan obligations (CLOs), corporate bonds and debentures, commercial <br />paper, exchange traded notes (ETNs), money market instruments, mortgage dollar <br />rolls, repurchase and reverse repurchase agreements, when issued/delayed delivery <br />securities, zero coupon bonds, obligations of foreign governments, and obligations <br />of either supranational entities issued or guaranteed by certain banks and entities <br />organized to restructure the outstanding debt of such issuers.<br /> <br />The Fund's fixed income investments may also include U.S. Treasury obligations,<br />obligations issued by agencies or instrumentalities of the U.S. Government<br />(including obligations not guaranteed by the U.S. Treasury), such as obligations<br />issued by U.S. Government sponsored entities, and Treasury Inflation Protected<br />Securities (TIPS) and other inflation-linked debt securities of both U.S. and<br />non-U.S. governments and corporations.<br />&#xA0;&#xA0;<br />The Fund may also invest a portion of its assets in bank loans, which are,<br />generally, non-investment grade floating rate instruments, in the form of<br />participations in the loans (participations) and assignments of all or a portion<br />of the loans from third parties (assignments).<br /> <br />The Fund may invest in fixed, variable and floating rate fixed income<br />instruments. The Fund's portfolio and the Fund's investments in particular fixed<br />income securities are not subject to any maturity or duration restrictions.<br /> <br />Other Instruments. The Fund may also invest in real estate investment trusts<br />(REITs) and securities issued by U.S. and non-U.S. real estate companies.<br /> <br />Pooled Investment Vehicles. In addition to direct investment in securities and<br />other instruments, the Fund may invest in affiliated and unaffiliated funds,<br />including open-end funds, money market funds, closed-end funds and<br />exchange-traded funds (ETFs), to obtain the Fund's desired exposure to a<br />particular asset class.<br /> <br />Derivative Instruments. The Fund may also purchase or sell futures contracts,<br />forward contracts, options and swaps (including swaptions, caps, floors or<br />collars) for return enhancement or hedging purposes or to obtain the Fund's<br />desired exposure to a particular asset class. Futures contracts, forward<br />contracts, options and swaps may be used to synthetically obtain exposure to<br />securities or baskets of securities and to manage the Fund's interest rate<br />duration and yield curve exposure. These derivatives may also be used to<br />mitigate the Fund's overall level of risk and/or the Fund's exposure to the risk<br />of particular types of securities or market segments. The Fund may purchase or<br />sell futures contracts on U.S. Government securities for return enhancement and<br />hedging purposes. The Fund may purchase and sell forward contracts on currencies<br />or securities for return enhancement and hedging purposes. Interest rate swaps<br />are further used to manage the Fund's yield spread sensitivity. Currency swaps<br />may be used for return enhancement or hedging purposes. Securities index and<br />single-security swaps may be used to manage the inflation-adjusted return of the<br />Fund or to more efficiently gain exposure to a particular security or basket of<br />securities. The Fund may buy credit default swaps in an attempt to manage credit<br />risk where the Fund has credit exposure to an issuer, and the Fund may sell<br />credit default swaps to more efficiently gain credit exposure to a security or<br />basket of securities.<br /> <br />A portion of the Fund's assets may also be invested in commodity-linked<br />securities to provide exposure to the investment returns of the commodities<br />markets without investing directly in physical commodities. Commodity-linked<br />securities include marketable securities issued by companies that own or invest<br />in commodities or commodities contracts, equity and debt securities of issuers<br />in commodity-related industries, ETFs or other exchange-traded products that <br />are tied to the performance of a commodity or commodity index, or other types <br />of investment vehicles or instruments that provide returns that are tied to<br />commodities or commodity indices.<br /> <br />The Fund may invest in U.S. dollar and non-U.S. dollar denominated securities.<br />SIMC or the Sub-Advisers may also seek to enhance the Fund's return by actively<br />managing the Fund's foreign currency exposure. In managing the Fund's currency<br />exposure, SIMC or the Sub-Advisers may buy and sell currencies (i.e., take long<br />or short positions) using futures and foreign currency forward contracts. The<br />Fund may take long and short positions in foreign currencies in excess of the<br />value of the Fund's assets denominated in a particular currency or when the Fund<br />does not own assets denominated in that currency. The Fund may also engage in<br />currency transactions in an attempt to take advantage of certain inefficiencies<br />in the currency exchange market, to increase its exposure to a foreign currency<br />or to shift exposure to foreign currency fluctuations from one currency to another. <br />In managing the Fund's currency exposure for foreign securities, SIMC or the <br />Sub-Advisers may buy and sell currencies for hedging or for speculative purposes.<br /> <br />The Sub-Advisers may engage in short sales in an attempt to capitalize on equity<br />securities that they believe will underperform the market or their peers. When<br />the Sub-Advisers sell securities short, they may invest the proceeds from the<br />short sales in an attempt to enhance returns. This strategy may effectively<br />result in the Fund having a leveraged investment portfolio, which results in<br />greater potential for loss.<br /> <br />Due to its investment strategy, the Fund may buy and sell securities and other<br />instruments frequently.<br /> <br />The goal of the Fund is to serve as a dynamic overlay to broader strategic<br />allocations. This Fund is intended to be used by shareholders seeking to add a<br />dynamic component to their broader overall investment strategy. An investment in<br />the Fund should not constitute a shareholder's complete investment program.</tt> DYNAMIC ASSET ALLOCATION FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs may be higher or lower, based on these assumptions your costs would be: 1.40 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance for each calendar year since its inception and by showing how the Fund's average annual returns for 1 year, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 5.36% (12/31/11)<br /> <br />Worst Quarter: -5.05% (09/30/11)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 9.72%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>American Depositary Receipts (ADRs) Risk - ADRs are certificates evidencing<br />ownership of shares of a foreign issuer that are issued by depositary banks and<br />generally trade on an established market. ADRs are subject to many of the risks<br />associated with investing directly in foreign securities, including, among other<br />things, political, social and economic developments abroad, currency movements<br />and different legal, regulatory and tax environments.<br /> <br />Asset-Backed Securities Risk - Payment of principal and interest on asset-backed<br />securities is dependent largely on the cash flows generated by the assets backing <br />the securities, and asset-backed securities may not have the benefit of any <br />security interest in the related assets.<br /> <br />Bank Loans Risk - With respect to bank loans, the Fund will assume the credit<br />risk of both the borrower and the lender that is selling the participation in<br />the loan. The Fund may also have difficulty disposing of bank loans because, in<br />certain cases, the market for such instruments is not highly liquid.<br /> <br />Below Investment Grade Securities Risk - Fixed income securities rated below<br />investment grade (junk bonds) involve greater risks of default or downgrade and<br />are more volatile than investment grade securities because the prospect for<br />repayment of principal and interest of many of these securities is speculative.<br /> <br />CDOs and CLOs Risk - CDOs and CLOs are securities backed by an underlying<br />portfolio of debt and loan obligations, respectively. CDOs and CLOs issue<br />classes or "tranches" that vary in risk and yield and may experience substantial<br />losses due to actual defaults, decrease of market value due to collateral<br />defaults and removal of subordinate tranches, market anticipation of defaults,<br />and investor aversion to CDO and CLO securities as a class. The risks of<br />investing in CDOs and CLOs depend largely on the tranche invested in and the<br />type of underlying debts and loans in the tranche of the CDO or CLO,<br />respectively, in which the Fund invests. CDOs and CLOs also carry risks<br />including, but not limited to, interest rate risk and credit risk, which are<br />described below.<br /> <br />Commodity-Linked Securities Risk - Investments in commodity-linked securities<br />may be more volatile and less liquid than direct investments in the underlying<br />commodities themselves. Commodity-related equity returns can also be affected <br />by the issuer's financial structure or the performance of unrelated businesses.<br /> <br />Convertible and Preferred Securities Risk - Convertible and preferred securities<br />have many of the same characteristics as stocks, including many of the same<br />risks. In addition, convertible securities may be more sensitive to changes in<br />interest rates than stocks. Convertible securities may also have credit ratings<br />below investment grade, meaning that they carry a higher risk of failure by the<br />issuer to pay principal and/or interest when due.<br /> <br />Corporate Fixed Income Securities Risk - Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk - Due to the Fund's active positions in currencies, it will be<br />subject to the risk that currency exchange rates may fluctuate in response to,<br />among other things, changes in interest rates, intervention (or failure to<br />intervene) by U.S. or foreign governments, central banks or supranational<br />entities, or by the imposition of currency controls or other political<br />developments in the United States or abroad.<br /> <br />Derivatives Risk - The Fund's use of futures, forwards, options and swaps is<br />subject to market risk, leverage risk, correlation risk and liquidity risk.<br />Leverage risk, liquidity risk and market risk are described below. Correlation<br />risk is the risk that changes in the value of the derivative may not correlate<br />perfectly with the underlying asset, rate or index. The Fund's use of forwards<br />and swap agreements is also subject to credit risk and valuation risk. Valuation<br />risk is the risk that the derivative may be difficult to value and/or valued<br />incorrectly. Credit risk is described above. Each of these risks could cause the<br />Fund to lose more than the principal amount invested in a derivative instrument.<br /> <br />Duration Risk - The longer-term securities in which the Fund may invest tend to<br />be more volatile than shorter-term securities. A portfolio with a longer average<br />portfolio duration is more sensitive to changes in interest rates than a<br />portfolio with a shorter average portfolio duration.<br /> <br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF generally <br />reflect the risks of owning the underlying securities the ETF is designed to track, <br />although lack of liquidity in an ETF could result in its value being more volatile <br />than the underlying portfolio securities.<br /> <br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. In the case of foreign securities, price<br />fluctuations will reflect international economic and political events, as well<br />as changes in currency valuations relative to the U.S. dollar.<br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal, regulatory<br />and tax environments. These additional risks may be heightened with respect to <br />emerging market countries since political turmoil and rapid changes in economic <br />conditions are more likely to occur in these countries.<br /> <br />Interest Rate Risk - The risk that the Fund's yield will decline due to falling<br />interest rates. A rise in interest rates typically causes a fall in values of<br />fixed income securities in which the Fund invests, while a fall in interest<br />rates typically causes a rise in values of such securities.<br /> <br />Investment Company Risk - When the Fund invests in an investment company,<br />including closed-end funds and ETFs, in addition to directly bearing the<br />expenses associated with its own operations, it will bear a pro rata portion of<br />the investment company's expenses. Further, while the risks of owning shares of<br />an investment company generally reflect the risks of owning the underlying<br />investments of the investment company, the Fund may be subject to additional or<br />different risks than if the Fund had invested directly in the underlying<br />investments. For example, the lack of liquidity in an ETF could result in its<br />value being more volatile than that of the underlying portfolio securities.<br />Closed-end investment companies issue a fixed number of shares that trade on a<br />stock exchange or over-the-counter at a premium or a discount to their net asset<br />value. As a result, a closed-end fund's share price fluctuates based on what<br />another investor is willing to pay rather than on the market value of the<br />securities in the fund.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the seller would like. The seller may<br />have to lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Market Risk - The risk that the market value of a security may move up and down,<br />sometimes rapidly and unpredictably. Market risk may affect a single issuer, an<br />industry, a sector or the equity or bond market as a whole.<br /> <br />Mortgage-Backed Securities Risk - Mortgage-backed securities are affected by,<br />among other things, interest rate changes and the possibility of prepayment of<br />the underlying mortgage loans. Mortgage-backed securities are also subject to<br />the risk that underlying borrowers will be unable to meet their obligations.<br /> <br />Opportunity Risk - The risk of missing out on an investment opportunity because<br />the assets necessary to take advantage of it are tied up in other investments.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />Private Placements Risk - Investment in privately placed securities may be less<br />liquid than in publicly traded securities. Although these securities may be<br />resold in privately negotiated transactions, the prices realized from these sales <br />could be less than those originally paid by the Fund or less than what may be <br />considered the fair value of such securities. Further, companies whose securities <br />are not publicly traded may not be subject to the disclosure and other investor <br />protection requirements that might be applicable if their securities were publicly <br />traded.<br /> <br />Real Estate Industry Risk - Securities of companies principally engaged in the<br />real estate industry may be subject to the risks associated with direct ownership <br />of real estate. Risks commonly associated with the direst ownership of real estate <br />include fluctuations in the value of underlying properties, defaults by borrowers <br />or tenants, changes in interest rates and risks related to general or local economic <br />conditions.<br /> <br />REITs Risk - REITs are trusts that invest primarily in commercial real estate or<br />real estate-related loans. The Fund's investments in REITs are subject to the<br />risks associated with the direct ownership of real estate, which are discussed<br />above. Some REITs may have limited diversification and may be subject to risks<br />inherent in financing a limited number of properties.<br /> <br />Short Sales Risk - A short sale involves the sale of a security that the Fund<br />does not own in the expectation of purchasing the same security (or a security<br />exchangeable therefore) at a later date at a lower price. Short sales expose the<br />Fund to the risk that it will be required to buy the security sold short (also<br />known as "covering" the short position) at a time when the security has appreciated <br />in value, thus resulting in a loss to the Fund. Investment in short sales may also <br />cause the Fund to incur expenses related to borrowing securities. Reinvesting <br />proceeds received from short selling may create leverage, which can amplify the <br />effects of market volatility on the Fund's share price.<br /> <br />Small and Medium Capitalization Risk - The risk that small and medium<br />capitalization companies in which the Fund invests may be more vulnerable to<br />adverse business or economic events than larger, more established companies. In<br />particular, small and medium capitalization companies may have limited product<br />lines, markets and financial resources and may depend upon a relatively small<br />management group. Therefore, small capitalization and medium capitalization<br />stocks may be more volatile than those of larger companies. Small capitalization<br />and medium capitalization stocks may be traded over-the-counter or listed on an<br />exchange.<br /> <br />U.S. Government Securities Risk - Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance for<br />each calendar year since its inception and by showing how the Fund's average<br />annual returns for 1 year, and since the Fund's inception, compared with those<br />of a broad measure of market performance. The Fund's past performance (before<br />and after taxes) is not necessarily an indication of how the Fund will perform<br />in the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000027147Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000027147Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>This table compares the Fund's average annual total returns to those of a<br />broad-based index and the Fund's 80/10/10 Blended Benchmark, which consists <br />of the S&amp;P 500 Index (80%), the iBoxx $ Liquid High Yield Index (10%) and <br />the J.P. Morgan EMBI Global Core Index (10%). The Fund's Blended Benchmark <br />is designed to provide a useful comparison to the Fund's overall performance <br />and more accurately reflects the Fund's investment strategy than the <br />broad-based index.<br /> <br />After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local taxes. <br />Your actual after-tax returns will depend on your tax situation and may differ <br />from those shown. After-tax returns shown are not relevant to investors who hold <br />their Fund shares through tax-deferred arrangements, such as 401(k) plans or <br />individual retirement accounts.</tt> S&P 500 Index Return (reflects no deduction for fees, expenses or taxes) 0.0211 0.1214 2010-07-30 The Fund's Blended Benchmark Return (reflects no deduction for frees, expenses or taxes) 0.0771 0.1045 2010-07-30 Return After Taxes on Distributions and Sale of Fund Shares 0.0226 0.0608 2010-07-30 Return After Taxes on Distributions 0.0150 0.0648 2010-07-30 SDLAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 84 2011-12-31 262 -0.0505 1014 455 0.0536 0.0258 0.0007 0.0060 2011-09-30 The Fund's total return 0.0258 0.00 0.0082 0.0758 2010-07-30 0.0972 0.0015 <tt>The Fund will pay transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000026677Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>Under normal circumstances, the Strategic U.S. Large Cap Equity Fund will invest<br />at least 80% of its net assets (plus the amount of any borrowings for investment<br />purposes) in equity securities of large U.S. companies. These securities may<br />include common stocks, preferred stocks, warrants and ETFs based on a large <br />capitalization equity index. The Fund will invest primarily in common stocks of <br />U.S. companies with market capitalizations in the range of companies in the S&amp;P <br />500 Index (between $1.22 billion and $572.4 billion as of July 31, 2012) at the <br />time of purchase. The market capitalization range and the composition of the S&amp;P <br />500 Index are subject to change. The Fund may also, to a lesser extent, invest <br />in common and preferred stocks of small capitalization companies.<br /><br />The Fund seeks to exceed the total return of the S&amp;P 500 Index, with a similar<br />level of volatility, by investing primarily in a portfolio of common stocks<br />included in the S&amp;P 500 Index, as well as other equity investments and futures<br />and swaps whose value is derived from the performance of the S&amp;P 500 Index. The<br />Fund uses a multi-manager approach, relying on Sub-Advisers with differing<br />investment philosophies to manage portions of the Fund's portfolio under the<br />general supervision of SIMC. The Fund may employ Sub-Advisers that use a variety<br />of different methods to seek to outperform the Fund's benchmark, including<br />purchasing stocks with strong anticipated future earnings growth, selecting<br />stocks that the Sub-Adviser believes are undervalued, capturing returns from<br />natural market volatility and employing strategies that rotate among various<br />market sectors. The Fund may also utilize one or more additional Sub-Advisers<br />who manage the Fund in a complementary style with the objective to seek to add<br />value over the S&amp;P 500 Index while maintaining a level of volatility similar to<br />the S&amp;P 500 Index.</tt> STRATEGIC U.S. LARGE CAP EQUITY FUND EXAMPLE Other expenses are based on estimated amounts for the current fiscal year. As of September 30, 2012, the Fund had not yet commenced operations and did not have a performance history. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial obligation.<br /><br />Derivatives Risk - The Fund's use of futures and swaps is subject to market<br />risk, leverage risk, correlation risk and liquidity risk. Leverage risk and<br />liquidity risk are described below. Market risk is the risk that the market<br />value of an investment may move up and down, sometimes rapidly and unpredictably. <br />Correlation risk is the risk that changes in the value of the derivative may not <br />correlate perfectly with the underlying asset, rate or index. The Fund's use of <br />swap agreements is also subject to credit risk and valuation risk. Valuation risk <br />is the risk that the derivative may be difficult to value and/or valued <br />incorrectly. Credit risk is described above. Each of these risks could cause the <br />Fund to lose more than the principal amount invested in a derivative instrument.<br /><br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /><br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /><br />Investment Style Risk - The risk that large capitalization securities may<br />underperform other segments of the equity markets or the equity markets as a<br />whole.<br /><br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /><br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment opportunity, <br />any of which could have a negative effect on Fund management or performance.<br /><br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /><br />Small Capitalization Risk - Smaller capitalization companies in which the Fund<br />invests may be more vulnerable to adverse business or economic events than<br />larger, more established companies. In particular, small capitalization<br />companies may have limited product lines, markets and financial resources and<br />may depend upon a relatively small management group. Therefore, small<br />capitalization stocks may be more volatile than those of larger companies.<br /><br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>As of September 30, 2012, the Fund had not yet commenced operations and did not<br />have a performance history.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000026677Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 56 176 0.0015 0.0040 0.00 0.0055 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 76%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000019597Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000019597Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the period ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the Screened World Equity Ex-US Fund will invest at<br />least 80% of its net assets (plus the amount of any borrowings for investment<br />purposes) in equity securities of foreign companies. These securities may<br />include common stocks, preferred stocks, warrants, ETFs based on an international <br />equity index, derivative instruments (principally futures and forward contracts) <br />whose value is based on an international equity index or an underlying equity <br />security or basket of equity securities and investment companies whose portfolios <br />are designed to correlate with a portfolio of international equity securities. <br />The Fund will invest in securities of foreign issuers located in developed and <br />emerging market countries, but will seek to avoid investing in companies whose <br />activities directly or indirectly benefit the governments of countries that <br />support terrorism, genocide or human rights abuses. However, the Fund will not <br />invest more than 35% of its assets in the common stocks or other equity securities <br />of issuers located in emerging market countries. The Fund's benchmark is the MSCI <br />All Country World Ex-U.S. Index (net of dividends). The Fund is expected to have <br />an absolute return and risk profile similar to the international equity market. <br />The Fund is diversified as to issuers, market capitalization, industry and country.<br /> <br />The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers<br />with differing investment strategies to manage portions of the Fund's portfolio<br />under the general supervision of SIMC.<br /> <br />The Sub-Advisers may seek to enhance the Fund's return by actively managing the<br />Fund's foreign currency exposure. In managing the Fund's currency exposure, the<br />Sub-Advisers may buy and sell currencies (i.e., take long or short positions)<br />using derivatives, principally foreign currency forward contracts and futures.<br />The Fund may take long and short positions in foreign currencies in excess of<br />the value of the Fund's assets denominated in a particular currency or when the<br />Fund does not own assets denominated in that currency. The Fund may also engage<br />in currency transactions in an attempt to take advantage of certain inefficiencies <br />in the currency exchange market, to increase their exposure to a foreign currency <br />or to shift exposure to foreign currency fluctuations from one currency to another.<br /> <br />The Fund may also invest in futures contracts and forward contracts for hedging<br />purposes, including to seek to manage the Fund's currency exposure to foreign<br />securities and mitigate the Fund's overall risk.<br /> <br />Potential investments for the Fund are first selected for financial soundness<br />and then evaluated according to the Fund's social criteria. The Fund seeks to<br />avoid investing in companies whose activities directly or indirectly benefit the<br />governments of countries that support terrorism, genocide or human rights abuses. <br />This includes companies that pay royalties, such as those on oil or mining, to <br />these governments and companies that help provide a stable economic environment <br />that supports the government in its oppressive policies by having substantial <br />operations or customers in the country. The Sub-Advisers will rely on a list of <br />issuers that have been identified by an independent compliance support organization <br />when determining whether a company's activities directly or indirectly benefit <br />the governments of countries that support terrorism, genocide or human rights <br />abuses. The list is developed using information gathered from a variety of <br />sources, such as government agencies, trade journals, direct company contacts <br />and industry and regional publications. The Adviser reserves the right to modify <br />the Fund's social criteria from time to time in response to world events. All <br />social criteria may be changed without shareholder approval.</tt> SCREENED WORLD EQUITY EX-US FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.76 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past three calendar years and by showing how the Fund's average annual returns for 1 year, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 24.07% (06/30/09)<br /> <br />Worst Quarter: -21.65% (09/30/11)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 3.09%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial obligation.<br /> <br />Currency Risk - Due to the Fund's active positions in currencies, it will be<br />subject to the risk that currency exchange rates may fluctuate in response <br />to, among other things, changes in interest rates, intervention (or failure <br />to intervene) by U.S. or foreign governments, central banks or supranational<br />entities, or by the imposition of currency controls or other political<br />developments in the United States or abroad.<br /> <br />Derivatives Risk - The Fund's use of futures and forward contracts is subject to<br />market risk, leverage risk, correlation risk and liquidity risk. Leverage risk<br />and liquidity risk are described below. Market risk is the risk that the market<br />value of an investment may move up and down, sometimes rapidly and unpredictably. <br />Correlation risk is the risk that changes in the value of the derivative may not <br />correlate perfectly with the underlying asset, rate or index. The Fund's use of <br />over-the-counter forward contracts is also subject to credit risk and valuation <br />risk. Valuation risk is the risk that the derivative may be difficult to value <br />and/or valued incorrectly. Credit risk is described above. Each of the above <br />risks could cause the Fund to lose more than the principal amount invested in a <br />derivative instrument.<br /> <br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal, regulatory <br />and tax environments. These additional risks may be heightened with respect to <br />emerging market countries since political turmoil and rapid changes in economic <br />conditions are more likely to occur in these countries.<br /> <br />Investment Style Risk - The risk that equity securities of developed and emerging <br />market countries may underperform other segments of the equity markets or the <br />equity markets as a whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment opportunity, <br />any of which could have a negative effect on Fund management or performance.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Social Investment Criteria Risk - The Fund's portfolio is subject to certain<br />social investment criteria. As a result, the Sub-Advisers may avoid purchasing<br />certain securities for social reasons when it is otherwise economically<br />advantageous to purchase those securities or may sell certain securities for<br />social reasons when it is otherwise economically advantageous to hold those<br />securities. In general, the application of the Fund's social investment criteria<br />may affect the Fund's exposure to certain industries, sectors and geographic<br />areas, which may affect the financial performance of the Fund, positively or<br />negatively, depending on whether these industries or sectors are in or out of<br />favor.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past three calendar years and by showing how the Fund's<br />average annual returns for 1 year, and since the Fund's inception, compared with<br />those of a broad measure of market performance. The performance information<br />shown is based on a full calendar year. The Fund's past performance (before and<br />after taxes) is not necessarily an indication of how the Fund will perform in<br />the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000019597Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000019597Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local taxes. <br />Your actual after-tax returns will depend on your tax situation and may differ <br />from those shown. After-tax returns shown are not relevant to investors who hold <br />their Fund shares through tax-deferred arrangements, such as 401(k) plans or <br />individual retirement accounts.</tt> MSCI All Country World Ex-US Index Return (net of dividends) (reflects no deduction for fees, expenses or taxes) -0.1371 -0.0542 2008-06-30 Return After Taxes on Distributions and Sale of Fund Shares -0.0869 -0.0625 2008-06-30 Return After Taxes on Distributions -0.1433 -0.0774 2008-06-30 SSEAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 97 2009-06-30 303 -0.2165 0.1164 1166 525 0.2407 -0.1431 0.0028 0.0065 2011-09-30 0.3405 The Fund's total return -0.1431 0.00 0.0095 -0.0770 2008-06-30 0.0309 0.0002 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 58%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000014581Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000014581Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation and income.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>The Enhanced LIBOR Opportunities Fund invests primarily in a diversified<br />portfolio of investment grade and non-investment grade fixed-income securities<br />(junk bonds), including: (i) securities issued or guaranteed by the U.S.<br />Government and its agencies and instrumentalities and obligations of U.S. and<br />foreign commercial banks, such as certificates of deposit, time deposits,<br />bankers' acceptances and bank notes; (ii) obligations of foreign governments;<br />(iii) U.S. and foreign corporate debt securities, including commercial paper,<br />and fully-collateralized repurchase agreements with counterparties deemed<br />credit-worthy by the Fund's Sub-Advisers; and (iv) securitized issues, such as<br />mortgage-backed securities, asset-backed securities, commercial mortgage-backed<br />securities and collateralized debt obligations. These securities may be fixed-,<br />variable- or floating-rate obligations and will be rated CCC- or higher at the<br />time of purchase by at least one ratings agency. There are no restrictions on<br />the maturity of any individual securities or on the Fund's average portfolio<br />maturity, although the average portfolio duration of the Fund will typically<br />vary between zero and two years. Duration is a measure of the expected life of a<br />fixed income security that is used to determine the sensitivity of a security's<br />price to changes in interest rates.<br /> <br />The Fund uses a multi-manager approach under the general supervision of SIMC,<br />allocating the assets among multiple Sub-Advisers that use different investment<br />strategies designed to produce a total return that exceeds the total return of<br />the 3-Month LIBOR (London Interbank Offered Rate). LIBOR is based on rates that<br />contributor banks in London charge each other for interbank deposits and is<br />typically used to set coupon rates on floating rate debt securities.<br /> <br />The Sub-Advisers may seek to enhance the Fund's return by actively managing the<br />Fund's foreign currency exposure. Up to 10% of the Fund's assets may be invested<br />in foreign currencies. In managing the Fund's currency exposure, the Sub-Advisers <br />buy and sell currencies (i.e., take long or short positions) using derivatives, <br />principally futures, foreign currency forward contracts, swaps and options. The <br />Fund may take long and short positions in foreign currencies in excess of the <br />value of the Fund's assets denominated in a particular currency or when the Fund <br />does not own assets denominated in that currency. In managing the Fund's currency <br />exposure for foreign securities, the Sub-Advisers may buy and sell currencies for <br />hedging or for speculative purposes.<br /> <br />The Fund also invests a portion of its assets in bank loans, which are generally<br />non-investment grade (junk bond) floating rate instruments. Up to 100% of the<br />bank loans in which the Fund invests may be junk bonds. The Fund may invest in<br />bank loans in the form of participations in the loans (participations) and<br />assignments of all or a portion of the loans from third parties (assignments).<br />The Fund may also invest in other financial instruments or use other investment<br />techniques, such as reverse repurchase agreements, to seek to obtain market<br />exposure to the securities in which the Fund primarily invests.<br /> <br />The Fund may also invest in futures contracts and swaps for speculative or<br />hedging purposes. Futures and swaps are used to synthetically obtain exposure <br />to securities or baskets of securities and to manage the Fund's interest rate<br />duration and yield curve exposure. These derivatives are also used to mitigate<br />the Fund's overall level of risk and/or the Fund's risk to particular types of<br />securities or market segments. Interest rate swaps are further used to manage<br />the Fund's yield spread sensitivity. When the Fund seeks to take an active long<br />or short position with respect to the likelihood of an event of default of a<br />security or basket of securities, the Fund may use credit default swaps. The<br />Fund may buy credit default swaps in an attempt to manage credit risk where the<br />Fund has credit exposure to an issuer, and the Fund may sell credit default swaps <br />to more efficiently gain credit exposure to such security or basket of securities.<br /> <br />To achieve its investment goal, the Fund may invest in the SEI LIBOR Plus Portfolio <br />(Portfolio), which is a portfolio of SEI Alpha Strategy Portfolios, LP, a registered <br />open-end investment company that was established to permit certain Funds to pursue <br />their respective investment strategies in an efficient manner. The Fund will invest <br />in the Portfolio only if the Portfolio invests in securities and pursues investment <br />strategies that are consistent with the Fund's investment strategy. The Portfolio <br />has expenses associated with its operations, including advisory and administration <br />fees. When the Fund invests in the Portfolio, it will bear a pro rata portion of <br />the Portfolio's expenses,which will be reflected in the Fund's fee table as "Acquired <br />Fund Fees and Expenses."</tt> ENHANCED LIBOR OPPORTUNITIES FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.58 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past five years and by showing how the Fund's average annual returns for 1 year, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 5.76% (09/30/09)<br /> <br />Worst Quarter: -20.36% (12/31/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 3.43%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Asset-Backed Securities Risk - Payment of principal and interest on asset-backed<br />securities is dependent largely on the cash flows generated by the assets<br />backing the securities, and asset-backed securities may not have the benefit of<br />any security interest in the related assets.<br /> <br />Bank Loans Risk - With respect to bank loans, the Fund will assume the credit<br />risk of both the borrower of the loan and the lender that is selling the<br />participation in the loan. The Fund may also have difficulty disposing of bank<br />loans because, in certain cases, the market for such instruments is not highly<br />liquid.<br /> <br />Below Investment Grade Securities Risk - Fixed income securities rated below<br />investment grade (junk bonds) involve greater risks of default or downgrade and<br />are more volatile than investment grade securities because the prospect for<br />repayment of principal and interest of many of these securities is speculative.<br /> <br />Corporate Fixed Income Securities Risk - Corporate fixed income securities respond <br />to economic developments, especially changes in interest rates, as well as <br />perceptions of the creditworthiness and business prospects of individual issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial obligation.<br /> <br />Currency Risk - Due to the Fund's active positions in currencies, it will be<br />subject to the risk that currency exchange rates may fluctuate in response to,<br />among other things, changes in interest rates, intervention (or failure to<br />intervene) by U.S. or foreign governments, central banks or supranational<br />entities, or by the imposition of currency controls or other political<br />developments in the United States or abroad.<br /> <br />Derivatives Risk - The Fund's use of futures contracts, forward contracts,<br />options and swaps is subject to market risk, leverage risk, correlation risk and<br />liquidity risk. Leverage risk, liquidity risk and market risk are described<br />below. Correlation risk is the risk that changes in the value of the derivative<br />may not correlate perfectly with the underlying asset, rate or index. The Fund's<br />use of forward contracts and swap agreements is also subject to credit risk and<br />valuation risk. Valuation risk is the risk that the derivative may be difficult<br />to value and/or may be valued incorrectly. Credit risk is described above. Each<br />of these risks could cause the Fund to lose more than the principal amount<br />invested in a derivative instrument.<br />&#xA0;&#xA0;<br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities<br />will decrease in value if interest rates rise and vice versa. In the case of<br />foreign securities, price fluctuations will reflect international economic and<br />political events, as well as changes in currency valuations relative to the U.S.<br />dollar.<br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal,<br />regulatory and tax environments. These additional risks may be heightened with<br />respect to emerging market countries since political turmoil and rapid changes<br />in economic conditions are more likely to occur in these countries.<br /> <br />Interest Rate Risk - The risk that the Fund's yield will decline due to falling<br />interest rates. A rise in interest rates typically causes a fall in values of<br />fixed income securities in which the Fund invests, while a fall in interest<br />rates typically causes a rise in values in such securities.<br /> <br />Investment Style Risk - The risk that short-duration fixed income securities may<br />underperform other segments of the fixed income markets or the fixed income<br />markets as a whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment opportunity, <br />any of which could have a negative effect on Fund management or performance.<br /> <br />Mortgage-Backed Securities Risk - Mortgage-backed securities are affected by, among <br />other things, interest rate changes and the possibility of prepayment of the <br />underlying mortgage loans. Mortgage-backed securities are also subject to the risk <br />that underlying borrowers will be unable to meet their obligations.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />U.S. Government Securities Risk - Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past five years and by showing how the Fund's average<br />annual returns for 1 year, and since the Fund's inception, compared with those<br />of a broad measure of market performance. The performance information shown is<br />based on full calendar years. The Fund's past performance (before and after<br />taxes) is not necessarily an indication of how the Fund will perform in the<br />future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000014581Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000014581Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local taxes. <br />Your actual after-tax returns will depend on your tax situation and may differ <br />from those shown. After-tax returns shown are not relevant to investors who hold <br />their Fund shares through tax-deferred arrangements, such as 401(k) plans or <br />individual retirement accounts.</tt> BofA Merrill Lynch US Dollar 3-Month LIBOR Constant Maturity Index Return (reflects no deduction for fees, expenses or taxes) 0.0027 0.0219 0.0224 2006-12-14 Return After Taxes on Distributions and Sale of Fund Shares 0.0077 -0.0235 -0.0233 2006-12-14 Return After Taxes on Distributions 0.0050 -0.0311 -0.0307 2006-12-14 ENIAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 63 2009-09-30 199 -0.2036 0.0696 774 346 -0.0050 0.0576 0.0119 0.0008 -0.2806 0.0045 2008-12-31 0.1547 -0.0220 The Fund's total return 0.0119 0.00 0.0062 -0.0216 2006-12-14 0.0343 0.0009 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 96%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000013606Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000013606Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Total return exceeding the rate of inflation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>The Fund uses a multi-manager approach under the general supervision of SIMC,<br />allocating the assets among multiple Sub-Advisers using different investment<br />strategies designed to produce a total return that exceeds the rate of inflation<br />in the U.S. To a limited extent, SIMC may also directly manage a portion of the<br />Fund's portfolio. <br /><br />Under normal circumstances, the Fund will invest a significant portion of <br />its assets in investment grade fixed income securities, including <br />inflation-indexed bonds of varying maturities issued by the U.S. Treasury, other <br />U.S. Government agencies and instrumentalities, and non-government entities such <br />as corporations. An inflation-indexed bond is a bond that is structured so that <br />its principal value will change with inflation. Treasury Inflation-Protected<br />Securities (TIPS) are a type of inflation-indexed bond in which the Fund may<br />invest. The Fund's exposure to fixed income securities is not restricted by<br />maturity requirements.<br /> <br />The Fund may also invest in futures contracts, forward contracts and swaps for<br />speculative or hedging purposes. Futures, forwards and swaps are used to<br />synthetically obtain exposure to securities or baskets of securities and to<br />manage the Fund's interest rate duration and yield curve exposure. These<br />derivatives are also used to mitigate the Fund's overall level of risk and/or<br />the Fund's risk to particular types of securities or market segments. Interest<br />rate swaps are further used to manage the Fund's yield spread sensitivity.<br />Securities index swaps are used to manage the inflation adjusted return of the<br />Fund.<br /> <br />The Fund may also invest in other financial instruments or use other investment<br />techniques, such as reverse repurchase agreements, to seek to obtain market<br />exposure to the securities in which the Fund primarily invests.<br /> <br />The Fund may also invest in: (i) securities issued or guaranteed by the U.S.<br />Government and its agencies and instrumentalities and obligations of U.S. and<br />foreign commercial banks, such as certificates of deposit, time deposits,<br />bankers' acceptances and bank notes; (ii) obligations of foreign governments;<br />(iii) U.S. and foreign corporate debt securities, including commercial paper,<br />and fully-collateralized repurchase agreements with highly rated counterparties<br />(those rated A or better); and (iv) securitized issues, such as mortgage-backed<br />securities issued by U.S. Government agencies.</tt> REAL RETURN FUND EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.96 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past five years and by showing how the Fund's average annual returns for 1 year, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 5.47% (03/31/08)<br /> <br />Worst Quarter: -4.42% (12/31/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 0.97%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Corporate Fixed Income Securities Risk - Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk - As a result of the Fund's investments in securities denominated<br />in, and/or receiving revenues in, foreign currencies, the Fund will be subject<br />to currency risk. Currency risk is the risk that foreign currencies will decline<br />in value relative to the U.S. dollar or, in the case of hedging positions, that<br />the U.S. dollar will decline in value relative to the currency hedged. In either<br />event, the dollar value of an investment in the Fund would be adversely<br />affected.<br /> <br />Derivatives Risk - The Fund's use of futures, forwards and swaps is subject to<br />market risk, leverage risk, correlation risk and liquidity risk. Leverage risk<br />and liquidity risk are described below. Market risk is the risk that the market<br />value of an investment may move up and down, sometimes rapidly and<br />unpredictably. Correlation risk is the risk that changes in the value of the<br />derivative may not correlate perfectly with the underlying asset, rate or index.<br />The Fund's use of forwards and swaps is also subject to credit risk and<br />valuation risk. Valuation risk is the risk that the derivative may be difficult<br />to value and/or valued incorrectly. Credit risk is described above. Each of<br />these risks could cause the Fund to lose more than the principal amount invested<br />in a derivative instrument.<br />&#xA0;&#xA0;<br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities<br />will decrease in value if interest rates rise and vice versa. In the case of<br />foreign securities, price fluctuations will reflect international economic and<br />political events, as well as changes in currency valuations relative to the U.S.<br />dollar.<br /> <br />Foreign Investment Risk - The risk that non-U.S. securities may be subject to<br />additional risks due to, among other things, political, social and economic<br />developments abroad, currency movements, and different legal, regulatory and tax<br />environments.<br /> <br />Foreign Sovereign Debt Securities Risk - The risk that: (i) the governmental<br />entity that controls the repayment of sovereign debt may not be willing or able<br />to repay the principal and/or interest when it becomes due, due to factors such<br />as debt service burden, political constraints, cash flow problems and other<br />national economic factors; (ii) governments may default on their debt<br />securities, which may require holders of such securities to participate in debt<br />rescheduling or additional lending to defaulting governments; and (iii) there is<br />no bankruptcy proceeding by which defaulted sovereign debt may be collected in<br />whole or in part.<br /> <br />Inflation Protected Securities Risk - The value of inflation protected<br />securities, including TIPS, generally will fluctuate in response to changes in<br />"real" interest rates, generally decreasing when real interest rates rise and<br />increasing when real interest rates fall. Real interest rates represent nominal<br />(or stated) interest rates reduced by the expected impact of inflation. In<br />addition, interest payments on inflation-indexed securities will generally vary<br />up or down along with the rate of inflation.<br /> <br />Interest Rate Risk - The risk that the value of fixed income securities,<br />including U.S. Government securities, will fall due to rising interest rates.<br /> <br />Investment Style Risk - The Fund is also subject to the risk that the Fund's<br />securities may underperform other segments of the markets or the markets as a<br />whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Mortgage-Backed Securities Risk - Mortgage-backed securities are affected by,<br />among other things, interest rate changes and the possibility of prepayment of<br />the underlying mortgage loans. Mortgage-backed securities are also subject to<br />the risk that underlying borrowers will be unable to meet their obligations.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br />&#xA0;&#xA0;<br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interests may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />U.S. Government Securities Risk - Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past five years and by showing how the Fund's average<br />annual returns for 1 year, and since the Fund's inception, compared with those<br />of a broad measure of market performance. The performance information shown is<br />based on full calendar years. The Fund's past performance (before and after<br />taxes) is not necessarily an indication of how the Fund will perform in the<br />future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000013606Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000013606Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> Barclays Capital U.S. Treasury Inflation Notes 1-10 Year Index Return (reflects no deduction for fees, expenses or taxes) 0.0893 0.0690 0.0690 2006-12-14 Barclays Capital U.S. Treasury Inflation Notes 1-5 Year Index 0.0488 0.0548 0.0548 2006-12-14 Return After Taxes on Distributions and Sale of Fund Shares 0.0359 0.0387 0.0380 2006-12-14 Return After Taxes on Distributions 0.0306 0.0392 0.0384 2006-12-14 RRPAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 29 2008-03-31 90 -0.0442 0.0388 356 157 0.12 0.0547 0.0506 0.0006 -0.0172 0.0022 2008-12-31 0.0975 0.0568 The Fund's total return 0.0506 0.00 0.0028 0.0559 2006-12-14 0.0097 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 44%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000013605Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000013605Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation with less volatility than the broad U.S. equity markets.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the U.S. Managed Volatility Fund will invest at<br />least 80% of its net assets (plus the amount of any borrowings for investment<br />purposes) in equity securities of U.S. companies of all capitalization ranges.<br />These securities may include common stocks, preferred stocks, ETFs and warrants.<br />The Fund may also, to a lesser extent, invest in ADRs and securities of non-U.S.<br />companies.<br /> <br />The Fund uses a multi-manager approach, relying on a number of Sub-Advisers with<br />differing investment philosophies to manage portions of the Fund's portfolio<br />under the general supervision of SIMC. The Fund is expected to achieve an absolute <br />return of the broad U.S. equity markets, but with a lower absolute volatility. Over <br />the long term, the Fund is expected to achieve a return similar to that of the<br />Russell 3000 Index, but with a lower level of volatility. However, given that the<br />Fund's investment strategy focuses on absolute return and risk, the Fund's sector <br />and market capitalization exposures will typically vary from the index and may cause<br />significant performance deviations relative to the index over shorter-term<br />periods. The Fund seeks to achieve lower volatility by constructing a portfolio<br />of securities that effectively weighs securities based on their total expected<br />risk and return, without regard to market capitalization and industry.</tt> U.S. MANAGED VOLATILITY FUND EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.44 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past three calendar years and by showing how the Fund's average annual returns for 1 year, and since the Fund's inception, compared with those of a broad measure of market performance. The performance information shown is based on a full calendar year. <tt>Best Quarter: 11.39% (09/30/09)<br /> <br />Worst Quarter: -11.59% (03/31/09)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 8.68%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>American Depositary Receipts (ADRs) Risk - ADRs are certificates evidencing<br />ownership of shares of a foreign issuer that are issued by depositary banks and<br />generally trade on an established market. ADRs are subject to many of the risks<br />associated with investing directly in foreign securities, including, among other<br />things, political, social and economic developments abroad, currency movements<br />and different legal, regulatory and tax environments.<br /> <br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Foreign Investment Risk - The risk that non-U.S. securities may be subject to<br />additional risks due to, among other things, political, social and economic<br />developments abroad, currency movements and different legal, regulatory and tax<br />environments.<br /> <br />Hedged Strategies Risk - The Fund may employ investment strategies that involve<br />greater risks than the strategies used by typical mutual funds. Although some of<br />the Sub-Advisers use hedged strategies, there is no assurance that hedged<br />strategies will protect against losses or perform better than non-hedged<br />strategies, and some Sub-Advisers may use long-only strategies.<br /> <br />Investment Style Risk - The risk that equity securities of U.S. companies of all<br />capitalization ranges may underperform other segments of the equity markets or<br />the equity markets as a whole.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Small and Medium Capitalization Risk - The risk that small and medium<br />capitalization companies in which the Fund invests may be more vulnerable to<br />adverse business or economic events than larger, more established companies. In<br />particular, small and medium capitalization companies may have limited product<br />lines, markets and financial resources and may depend upon a relatively small<br />management group. Therefore, small capitalization and medium capitalization<br />stocks may be more volatile than those of larger companies. Small capitalization<br />and medium capitalization stocks may be traded over the counter or listed on an<br />exchange.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past three calendar years and by showing how the Fund's<br />average annual returns for 1 year, and since the Fund's inception, compared with<br />those of a broad measure of market performance. The performance information<br />shown is based on a full calendar year. The Fund's past performance (before and<br />after taxes) is not necessarily an indication of how the Fund will perform in<br />the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000013605Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000013605Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> Russell 3000 Index Return (reflects no deduction for fees, expenses or taxes) 0.0103 0.1488 2008-12-30 Return After Taxes on Distributions and Sale of Fund Shares 0.0832 0.1081 2008-12-30 Return After Taxes on Distributions 0.0864 0.1123 2008-12-30 SVYAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 75 2009-09-30 233 -0.1159 0.1572 906 406 0.1139 0.1043 0.0008 0.0065 2009-03-31 0.1527 The Fund's total return 0.1043 0.00 0.0073 0.1378 2008-12-30 0.0868 <tt>The Fund will pay transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000010882Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>Under normal circumstances, the Global Equity Fund will invest at least 80% of<br />its net assets (plus the amount of any borrowings for investment purposes) in<br />equity securities. The Fund also may invest in futures contracts, foreign <br />currency forward contracts, swaps and options, either for hedging and risk<br />management purposes, including to seek to manage the Fund's currency exposure <br />to foreign securities and mitigate the Fund's overall risk, or as part of its<br />investment strategies.<br /> <br />The Fund will invest primarily in common stocks and other equity securities of<br />issuers located in developed market countries, including the U.S. Under normal<br />circumstances, the Fund will invest in at least four countries outside of the<br />U.S., but will typically invest much more broadly. At least 30% of the Fund's<br />assets will be invested in non-U.S. issuers at any time and it is generally<br />expected that approximately 50% of the Fund's assets will be invested in<br />non-U.S. issuers consistent with the Fund's benchmark. However, the Fund's<br />investments in non-U.S. issuers will vary depending on market conditions and<br />implementation of the Fund's investment strategy at a particular point in time.<br /> <br />The Fund may also invest, to a limited extent, in securities of issuers located<br />in emerging market countries. The Fund will not invest more than 15% of its<br />assets in the common stock or other equity securities of issuers located in<br />emerging market countries. Emerging market countries are countries that the<br />World Bank classifies as low, low-middle and upper-middle income countries.<br /> <br />The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers<br />with differing investment philosophies to manage portions of the Fund's<br />portfolio under the general supervision of SIMC. The Fund is diversified as to<br />issuers, market capitalization, industry and country. The Fund may also invest<br />in ETFs to gain exposure to a particular portion of the market while awaiting an<br />opportunity to purchase securities directly.</tt> GLOBAL EQUITY FUND EXAMPLE Other expenses are based on estimated amounts for the current fiscal year. As of September 30, 2012, the Fund had not yet commenced operations and did not have a performance history. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation. <br /> <br />Derivatives Risk - The Fund's use of futures contracts, forward contracts,<br />options and swaps is subject to market risk, leverage risk, correlation risk and<br />liquidity risk. Leverage risk, liquidity risk and market risk are described<br />below. Correlation risk is the risk that changes in the value of the derivative<br />may not correlate perfectly with the underlying asset, rate or index. The Fund's<br />use of forward contracts and swap agreements is also subject to credit risk and<br />valuation risk. Valuation risk is the risk that the derivative may be difficult<br />to value and/or may be valued incorrectly. Credit risk is described above. Each<br />of these risks could cause the Fund to lose more than the principal amount<br />invested in a derivative instrument. <br /> <br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities. <br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal,<br />regulatory and tax environments. These additional risks may be heightened with <br />respect to emerging market countries since political turmoil and rapid changes in <br />economic conditions are more likely to occur in these countries.<br />&#xA0;&#xA0;<br />Investment Style Risk - The risk that investments in securities pursuant to a<br />global strategy may underperform other segments of the equity markets or the<br />equity markets as a whole. <br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Market Risk - The risk that the market value of a security may move up and down,<br />sometimes rapidly and unpredictably. Market risk may affect a single issuer, an<br />industry, a sector or the bond market as a whole. <br /> <br />Small and Medium Capitalization Risk - The risk that small and medium<br />capitalization companies in which the Fund invests may be more vulnerable to<br />adverse business or economic events than larger, more established companies. In<br />particular, small and medium capitalization companies may have limited product<br />lines, markets and financial resources, and may depend upon a relatively small<br />management group. Therefore, small capitalization and medium capitalization<br />stocks may be more volatile than those of larger companies. Small capitalization<br />and medium capitalization stocks may be traded over the counter or listed on an<br />exchange. <br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>As of September 30, 2012, the Fund had not yet commenced operations and did not<br />have a performance history.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000010882Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 87 271 0.0025 0.0060 0.00 0.0085 <tt>The Fund will pay transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000010881Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> <tt>Under normal circumstances, the Emerging Markets Equity Fund will invest at<br />least 80% of its net assets (plus the amount of any borrowings for investment<br />purposes) in equity securities of emerging market issuers. The Fund will invest<br />primarily in common stocks and other equity securities of foreign companies <br />located in emerging market countries. The Fund normally maintains investments <br />in at least six emerging market countries and does not invest more than 35% of <br />its total assets in any one emerging market country. Emerging market countries <br />are countries that the World Bank classifies as low, low-middle and upper-middle <br />income countries. <br /> <br />The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers<br />with differing investment philosophies to manage portions of the Fund's<br />portfolio under the general supervision of SIMC. The Fund is diversified as to<br />issuers, market capitalization, industry and country. The Fund may also invest<br />in ETFs to gain exposure to a particular portion of the market while awaiting an<br />opportunity to purchase securities directly.</tt> EMERGING MARKETS EQUITY FUND EXAMPLE Other Expenses are based on estimated amounts for the current fiscal year. As of September 30, 2012, the Fund had not yet commenced operations and did not have a performance history. Investment Goal Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: Performance Information ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br />&#xA0;&#xA0;<br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities. <br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal,<br />regulatory and tax environments. These additional risks may be heightened with<br />respect to emerging market countries since political turmoil and rapid changes<br />in economic conditions are more likely to occur in these countries.<br /> <br />Investment Style Risk - The risk that emerging market equity securities may<br />underperform other segments of the equity markets or the equity markets as a<br />whole.<br />&#xA0;&#xA0;<br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Small and Medium Capitalization Risk - The risk that small and medium<br />capitalization companies in which the Fund invests may be more vulnerable to<br />adverse business or economic events than larger, more established companies. In<br />particular, small and medium capitalization companies may have limited product<br />lines, markets and financial resources, and may depend upon a relatively small<br />management group. Therefore, small capitalization and medium capitalization<br />stocks may be more volatile than those of larger companies. Small capitalization<br />and medium capitalization stocks may be traded over the counter or listed on an<br />exchange.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>As of September 30, 2012, the Fund had not yet commenced operations and did not<br />have a performance history.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000010881Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 153 474 0.0045 0.0105 0.00 0.0150 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 101%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000010543Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000010543Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Long-term growth of capital and income.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the Large Cap Diversified Alpha Fund will invest at<br />least 80% of its net assets (plus the amount of any borrowings for investment<br />purposes) in equity securities of large companies or in portfolio strategies<br />designed to correlate to a portfolio composed of large capitalization equity<br />securities. For purposes of this Fund, a large company is a company with a<br />market capitalization in the range of companies in the Russell 1000 Index<br />(between $212.3 million and $572.4 billion as of July 31, 2012) at the time of<br />purchase. The market capitalization range and the composition of the Russell<br />1000 Index are subject to change. The Fund may also, to a lesser extent, invest<br />in common and preferred stocks of small capitalization companies. The Fund may<br />also invest in ETFs based on a large capitalization index.<br /> <br />The Fund uses a multi-manager approach under the general supervision of SIMC,<br />allocating the assets among multiple Sub-Advisers that use different investment<br />strategies to seek to achieve returns in excess of the performance of the<br />Russell 1000 Index. This allocation among investment strategies aims to<br />diversify the sources from which Sub-Advisers seek to achieve excess returns<br />(i.e., returns in excess of a benchmark index or "alpha"), thereby diversifying<br />the relative risk of the Fund. While the Fund is expected to have an absolute<br />return and risk profile similar to the broad U.S. large capitalization equity<br />market, returns may be derived in part from investing up to 20% of the Fund in<br />securities outside of the large capitalization market.<br /> <br />Certain Sub-Advisers use portfolio strategies that are designed to correlate<br />with a portfolio of large capitalization equity securities, but which are<br />composed of futures contracts (also called "futures") and swaps backed by other<br />types of securities. The Fund may invest in futures and swaps either for risk<br />management purposes or as part of its investment strategies. These portfolio<br />strategies are included in the Fund's principal investment strategy described<br />above. The managers may purchase futures contracts or swaps, generally using<br />only a fraction of the assets that would be needed to purchase the equity<br />securities directly, so that the remainder of the assets in a portfolio may be<br />invested in other types of securities. Therefore, a Sub-Adviser would seek to<br />outperform a large capitalization benchmark by purchasing futures contracts or<br />swaps correlated to a broad large capitalization index and investing the<br />remaining assets in other types of securities to add excess return. This portion<br />of the Fund's assets may be invested in a wide range of asset classes other than<br />large capitalization equities. Pursuant to a derivatives strategy, the other<br />types of securities backing the futures and swaps held by the Fund may include<br />investments in U.S. and foreign corporate and government fixed income securities<br />of different types and maturities, including mortgage-backed or other<br />asset-backed securities, securities rated below the fourth highest rating<br />category by a Nationally Recognized Statistical Rating Organization (NRSRO)<br />(junk bonds) and repurchase or reverse repurchase agreements. In managing the<br />Fund's currency exposure for foreign securities, the Sub-Advisers may buy and<br />sell currencies for hedging or for speculative purposes. The amount of the<br />Fund's portfolio that may be allocated to derivative strategies is expected to<br />vary over time.<br /> <br />The Fund may also invest in futures contracts and swaps for speculative or<br />hedging purposes. Futures and swaps are used to synthetically obtain exposure to<br />securities or baskets of securities. These derivatives are also used to mitigate<br />the Fund's overall level of risk and/or the Fund's risk to particular types of<br />securities or market segments. Interest rate swaps are further used to manage<br />the Fund's yield spread sensitivity. When the Fund seeks to take an active long<br />or short position with respect to the likelihood of an event of default of a<br />security or basket of securities, the Fund may use credit default swaps. The Fund <br />may buy credit default swaps in an attempt to manage credit risk where the Fund <br />has credit exposure to an issuer and the Fund may sell credit default swaps to <br />more efficiently gain credit exposure to such security or basket of securities.</tt> LARGE CAP DIVERSIFIED ALPHA FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 1.01 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past five years, and by showing how the Fund's average annual returns for 1 year and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 17.00% (06/30/09)<br /> <br />Worst Quarter: -25.55% (12/31/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 8.84%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Asset-Backed Securities Risk - Payment of principal and interest on asset-backed<br />securities is dependent largely on the cash flows generated by the assets<br />backing the securities, and asset-backed securities may not have the benefit of<br />any security interest in the related assets.<br /> <br />Below Investment Grade Securities Risk - Fixed income securities rated below<br />investment grade (junk bonds) involve greater risks of default or downgrade and<br />are more volatile than investment grade securities because the prospect for<br />repayment of principal and interest of many of these securities is speculative.<br /> <br />Corporate Fixed Income Securities Risk - Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk - Due to the Fund's active positions in currencies, it will be<br />subject to the risk that currency exchange rates may fluctuate in response to,<br />among other things, changes in interest rates, intervention (or failure to<br />intervene) by U.S. or foreign governments, central banks or supranational<br />entities, or by the imposition of currency controls or other political<br />developments in the United States or abroad.<br /> <br />Derivatives Risk - The Fund's use of futures and swaps is subject to market<br />risk, leverage risk, correlation risk and liquidity risk. Leverage risk and<br />liquidity risk are described below. Market risk is the risk that the market<br />value of an investment may move up and down, sometimes rapidly and<br />unpredictably. Correlation risk is the risk that changes in the value of the<br />derivative may not correlate perfectly with the underlying asset, rate or index.<br />The Fund's use of swap agreements is also subject to credit risk and valuation<br />risk. Valuation risk is the risk that the derivative may be difficult to value<br />and/or valued incorrectly. Credit risk is described above. Each of these risks<br />could cause the Fund to lose more than the principal amount invested in a<br />derivative instrument.<br /> <br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities<br />will decrease in value if interest rates rise and vice versa. In the case of<br />foreign securities, price fluctuations will reflect international economic and <br />political events, as well as changes in currency valuations relative to the U.S. <br />dollar.<br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal,<br />regulatory and tax environments. These additional risks may be heightened with<br />respect to emerging market countries since political turmoil and rapid changes<br />in economic conditions are more likely to occur in these countries.<br /> <br />Foreign Sovereign Debt Securities Risk - The risk that: (i) the governmental<br />entity that controls the repayment of sovereign debt may not be willing or able<br />to repay the principal and/or interest when it becomes due, due to factors such<br />as debt service burden, political constraints, cash flow problems and other<br />national economic factors; (ii) governments may default on their debt<br />securities, which may require holders of such securities to participate in debt<br />rescheduling or additional lending to defaulting governments; and (iii) there is<br />no bankruptcy proceeding by which defaulted sovereign debt may be collected in<br />whole or in part.<br /> <br />Investment Style Risk - The risk that large capitalization securities may<br />underperform other segments of the equity markets or the equity markets as a<br />whole. The Fund uses portfolio strategies that are designed to correlate with a<br />portfolio of large capitalization equity securities, but which are composed of<br />derivative instruments backed by other types of securities in order to seek to<br />generate excess return. The financial performance of the Fund will be affected,<br />positively or negatively, by the financial performance of the securities backing<br />such derivative instruments. These factors, among others, may cause the Fund to<br />perform differently than a fund that is invested solely in large capitalization<br />equity securities or other funds with similar investment objectives or cause the<br />Fund to underperform its benchmark.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Mortgage-Backed Securities Risk - Mortgage-backed securities are affected by,<br />among other things, interest rate changes and the possibility of prepayment of<br />the underlying mortgage loans. Mortgage-backed securities are also subject to<br />the risk that underlying borrowers will be unable to meet their obligations.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br />&#xA0;&#xA0;<br />Short Sales Risk - Short sales expose the Fund to the risk that it will be<br />required to buy the security sold short (also known as "covering" the short<br />position) at a time when the security has appreciated in value, thus resulting<br />in a loss to the Fund.<br /> <br />Small Capitalization Risk - Smaller capitalization companies in which the Fund<br />invests may be more vulnerable to adverse business or economic events than<br />larger, more established companies. In particular, small capitalization<br />companies may have limited product lines, markets and financial resources and<br />may depend upon a relatively small management group. Therefore, small<br />capitalization stocks may be more volatile than those of larger companies.<br /> <br />U.S. Government Securities Risk - Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past five years, and by showing how the Fund's average<br />annual returns for 1 year and since the Fund's inception, compared with those of<br />a broad measure of market performance. The performance information shown is<br />based on full calendar years. The Fund's past performance (before and after<br />taxes) is not necessarily an indication of how the Fund will perform in the<br />future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000010543Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000010543Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> Russell 1000 Index Return (reflects no deduction for fees, expenses or taxes) 0.0150 -0.0002 0.0195 2006-02-28 Return After Taxes on Distributions and Sale of Fund Shares 0.0173 -0.0158 0.0012 2006-02-28 Return After Taxes on Distributions 0.0208 -0.0218 -0.0017 2006-02-28 SCDAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 49 2009-06-30 154 -0.2555 0.1472 604 269 0.0535 0.1700 0.0227 0.0007 -0.4267 0.0040 2008-12-31 0.2939 -0.0172 The Fund's total return 0.0227 0.00 0.0048 0.0030 2006-02-28 0.0884 0.0001 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 85%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006772Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006772Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the Small Cap Fund will invest at least 80% of its<br />net assets (plus the amount of any borrowings for investment purposes) in equity<br />securities (including common and preferred stocks) of small companies, including<br />ETFs based on small capitalization indices and securities of real estate<br />investment trusts (REITs). For purposes of this Fund, a small company is a<br />company with a market capitalization in the range of companies in the Russell<br />2000 Index (between $30.7 million and $3.67 billion as of July 31, 2012) or the<br />S&amp;P SmallCap 600 Index (between $52.7 million and $3.41 billion as of July 31,<br />2012) at the time of purchase. The market capitalization range and the<br />composition of both the Russell 2000 Index and the S&amp;P SmallCap 600 Index are<br />subject to change. The Fund may also invest in securities of large<br />capitalization companies.<br /> <br />The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers<br />with differing investment philosophies to manage portions of the Fund's<br />portfolio under the general supervision of SIMC. Each Sub-Adviser, in managing<br />its portion of the Fund's assets, generally applies a growth-oriented, a<br />value-oriented or a blended approach to selecting investments. Growth-oriented<br />managers generally select stocks they believe have attractive growth and<br />appreciation potential in light of such characteristics as revenue and earnings<br />growth, expectations from sell-side analysts and relative valuation, while<br />value-oriented managers generally select stocks they believe are attractively<br />valued in light of fundamental characteristics such as earnings, capital<br />structure and/or return on invested capital.</tt> SMALL CAP FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.85 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past ten years and by showing how the Fund's average annual returns for 1, 5 and 10 years, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 24.27% (06/30/09)<br /> <br />Worst Quarter: -28.10% (12/31/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 7.28%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Investment Style Risk - The risk that small capitalization securities may<br />underperform other segments of the equity markets or the equity markets as a<br />whole.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />REITs Risk - REITs are trusts that invest primarily in commercial real estate or<br />real estate-related loans. The Fund's investments in REITs will be subject to<br />the risks associated with the direct ownership of real estate. Risks commonly<br />associated with the direct ownership of real estate include fluctuations in the<br />value of underlying properties, defaults by borrowers or tenants, changes in<br />interest rates and risks related to general or local economic conditions. Some<br />REITs may have limited diversification and may be subject to risks inherent in<br />financing a limited number of properties.<br /><br />Small Capitalization Risk - Smaller capitalization companies in which the Fund<br />invests may be more vulnerable to adverse business or economic events than<br />larger, more established companies. In particular, small capitalization<br />companies may have limited product lines, markets and financial resources and<br />may depend upon a relatively small management group. Therefore, small<br />capitalization stocks may be more volatile than those of larger companies.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past ten years and by showing how the Fund's average annual<br />returns for 1, 5 and 10 years, and since the Fund's inception, compared with<br />those of a broad measure of market performance. The performance information<br />shown is based on full calendar years. The Fund's past performance (before and<br />after taxes) is not necessarily an indication of how the Fund will perform in<br />the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006772Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006772Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> Russell 2000 Index Return (reflects no deduction for fees, expenses or taxes) -0.0418 0.0015 0.0562 0.0641 1996-06-14 Return After Taxes on Distributions and Sale of Fund Shares -0.0340 -0.0114 0.0379 0.0520 1996-06-14 Return After Taxes on Distributions -0.0553 -0.0183 0.0360 0.0521 1996-06-14 SLPAX -0.2177 Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 75 2009-06-30 233 -0.2810 0.1727 0.2404 906 406 -0.0102 0.2427 -0.0539 0.0007 -0.4066 0.0065 2008-12-31 0.3736 -0.0109 0.0614 The Fund's total return -0.0539 0.4920 0.00 0.0486 0.0073 0.1684 0.0669 1996-06-14 0.0728 0.0001 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 84%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006770Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006770Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Long-term capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the Small/Mid Cap Equity Fund will invest at least<br />80% of its net assets (plus the amount of any borrowings for investment<br />purposes) in equity securities of small- and medium-sized companies. The Fund<br />will invest primarily in common stocks of U.S. companies with market<br />capitalizations in the range of companies in the Russell 2500 Index (between<br />$30.7 million and $7.73 billion as of July 31, 2012) at the time of purchase.<br />The market capitalization range and the composition of the Russell 2500 Index<br />are subject to change. The Fund uses a multi-manager approach, relying on a<br />number of Sub-Advisers with differing investment philosophies to manage portions<br />of the Fund's portfolio under the general supervision of SIMC. For example, the<br />Sub-Advisers may include both value managers (i.e., managers that select stocks<br />they believe are undervalued in light of such fundamental characteristics as<br />earnings, cash flow or book value) and growth managers (i.e., managers that<br />select stocks they believe have significant earnings growth potential based on<br />new product introductions, revenue growth and/or margin improvement and other<br />factors). The Fund may also invest in ETFs to gain exposure to a particular<br />portion of the market while awaiting an opportunity to purchase securities<br />directly and REITs.</tt> SMALL/MID CAP EQUITY FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.84 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past eight years and by showing how the Fund's average annual returns for 1 and 5 years, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 22.03% (06/30/09)<br /> <br />Worst Quarter: -27.32% (12/31/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 8.31%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Investment Style Risk - The risk that smaller and medium capitalization<br />securities may underperform other segments of the equity market or the equity<br />markets as a whole.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />REITs Risk - REITs are trusts that invest primarily in commercial real estate or<br />real estate-related loans. The Fund's investments in REITs will be subject to<br />the risks associated with the direct ownership of real estate. Risks commonly<br />associated with the direct ownership of real estate include fluctuations in the<br />value of underlying properties, defaults by borrowers or tenants, changes in<br />interest rates and risks related to general or local economic conditions. Some<br />REITs may have limited diversification and may be subject to risks inherent in<br />financing a limited number of properties.<br /> <br />Small and Medium Capitalization Risk - The risk that small and medium<br />capitalization companies in which the Fund invests may be more vulnerable to<br />adverse business or economic events than larger, more established companies. In<br />particular, small and medium capitalization companies may have limited product<br />lines, markets and financial resources and may depend upon a relatively small<br />management group. Therefore, small capitalization and medium capitalization<br />stocks may be more volatile than those of larger companies. Small capitalization<br />and medium capitalization stocks may be traded over the counter or listed on an<br />exchange.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past eight years and by showing how the Fund's average<br />annual returns for 1 and 5 years, and since the Fund's inception, compared with<br />those of a broad measure of market performance. The performance information<br />shown is based on full calendar years. The Fund's past performance (before and<br />after taxes) is not necessarily an indication of how the Fund will perform in<br />the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006770Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006770Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> Russell 2500 Index Return (reflects no deduction for fees, expenses or taxes) -0.0251 0.0124 0.0589 2003-12-15 Return After Taxes on Distributions and Sale of Fund Shares -0.0288 -0.0049 0.0441 2003-12-15 Return After Taxes on Distributions -0.0471 -0.0085 0.0466 2003-12-15 SSMAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 75 2009-06-30 233 -0.2732 0.1907 0.2508 906 406 0.0013 0.2203 -0.0452 0.0007 -0.4068 0.0065 2008-12-31 0.3878 -0.0031 0.0890 The Fund's total return -0.0452 0.00 0.0073 0.1530 0.0547 2003-12-15 0.0831 0.0001 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 93%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006769Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006769Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the Large Cap Disciplined Equity Fund will invest at<br />least 80% of its net assets (plus the amount of any borrowings for investment<br />purposes) in equity securities of large companies. These securities may include<br />common stocks, preferred stocks, warrants and ETFs based on a large<br />capitalization equity index. The Fund will invest primarily in common stocks of<br />U.S. companies with market capitalizations in the range of companies in the S&amp;P<br />500 Composite Stock Price Index (S&amp;P 500 Index) (between $1.22 billion and<br />$572.4 billion as of July 31, 2012) at the time of purchase. The market<br />capitalization range and the composition of the S&amp;P 500 Index are subject to<br />change. The Fund may also, to a lesser extent, invest in common and preferred<br />stocks of small capitalization companies.<br /> <br />The Fund seeks to exceed the total return of the S&amp;P 500 Index, with a similar<br />level of volatility, by investing primarily in a portfolio of common stocks<br />included in the S&amp;P 500 Index, as well as other equity investments and<br />derivative instruments whose value is derived from the performance of the S&amp;P<br />500 Index. The Fund uses a multi-manager approach, relying on Sub-Advisers with<br />differing investment philosophies to manage portions of the Fund's portfolio<br />under the general supervision of SIMC. The Fund may employ Sub-Advisers that use<br />a variety of different methods to seek to outperform the Fund's benchmark,<br />including purchasing stocks with strong anticipated future earnings growth,<br />selecting stocks that the Sub-Adviser believes are undervalued relative to their<br />fundamentals, capturing returns from the natural volatility of the market and<br />employing strategies that rotate among various sectors of the market. The Fund<br />may also utilize one or more additional Sub-Advisers who manage in a<br />complementary style with the objective to seek to add value over the S&amp;P 500<br />Index while maintaining a similar level of volatility to the S&amp;P 500 Index.<br /> <br />Certain Sub-Advisers use portfolio strategies that are designed to correlate<br />with a portfolio of large capitalization equity securities, but which are<br />composed of futures contracts or swaps backed by other types of securities.<br />These portfolio strategies are included in the Fund's principal investment<br />strategy described above. The Sub-Advisers may purchase these instruments,<br />generally using only a fraction of the assets that would be needed to purchase<br />the equity securities directly, so that the remainder of the assets in a<br />portfolio may be invested in other types of securities. Therefore, a Sub-Adviser<br />would seek to outperform a large capitalization benchmark by purchasing futures<br />contracts and swaps correlated to a broad large capitalization index and<br />investing the remaining assets in other types of securities to add excess<br />return. This portion of the Fund's assets may be invested in a wide range of<br />asset classes other than large capitalization equities. Pursuant to a<br />derivatives strategy, the other types of securities backing the derivative<br />instruments may include investments in U.S. and foreign corporate and government<br />fixed income securities of different types and maturities, including<br />mortgage-backed or other asset-backed securities, securities rated below the<br />fourth highest rating category by an NRSRO (junk bonds) and repurchase or<br />reverse repurchase agreements. In managing the Fund's currency exposure for<br />foreign securities, the Sub-Advisers may buy and sell currencies for hedging or<br />for speculative purposes. The amount of the Fund's portfolio that may be<br />allocated to derivative strategies is expected to vary over time.<br /> <br />The Fund may also invest in futures contracts and swaps for speculative or<br />hedging purposes. Futures and swaps are used to synthetically obtain exposure to<br />securities or baskets of securities. These derivatives are also used to mitigate<br />the Fund's overall level of risk and/or the Fund's risk to particular types of<br />securities or market segments. When the Fund seeks to take an active long or<br />short position with respect to the likelihood of an event of default of a<br />security or basket of securities, the Fund may use credit default swaps. The Fund <br />may buy credit default swaps in an attempt to manage credit risk where the Fund <br />has credit exposure to an issuer, and the Fund may sell credit default swaps to <br />more efficiently gain credit exposure to such security or basket of securities.<br /> <br />To achieve its investment goal, the Fund may invest in the SEI LIBOR Plus<br />Portfolio (Portfolio), which is a portfolio of SEI Alpha Strategy Portfolios,<br />LP, a registered open-end investment company that was established to permit<br />certain Funds to pursue their respective investment strategies in an efficient<br />manner. The Fund will invest in the Portfolio only if the Portfolio invests in<br />securities and pursues investment strategies that are consistent with the Fund's<br />investment strategy. The Portfolio has expenses associated with its operations,<br />including advisory and administration fees. When the Fund invests in the<br />Portfolio, it will bear a pro rata portion of the Portfolio's expenses, which<br />will be reflected in the Fund's fee table as "Acquired Fund Fees and Expenses."</tt> LARGE CAP DISCIPLINED EQUITY FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.93 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past eight years and by showing how the Fund's average annual returns for 1 and 5 years, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 15.99% (06/30/09)<br /> <br />Worst Quarter: -25.66% (12/31/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 9.70%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Asset-Backed Securities Risk - Payment of principal and interest on asset-backed<br />securities is dependent largely on the cash flows generated by the assets<br />backing the securities, and asset-backed securities may not have the benefit of<br />any security interest in the related assets.<br /> <br />Below Investment Grade Securities Risk - Fixed income securities rated below<br />investment grade (junk bonds) involve greater risks of default or downgrade and<br />are more volatile than investment grade securities because the prospect for<br />repayment of principal and interest of many of these securities is speculative.<br /> <br />Corporate Fixed Income Securities Risk - Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk - Due to the Fund's active positions in currencies, it will be<br />subject to the risk that currency exchange rates may fluctuate in response to,<br />among other things, changes in interest rates, intervention (or failure to<br />intervene) by U.S. or foreign governments, central banks or supranational<br />entities, or by the imposition of currency controls or other political<br />developments in the United States or abroad.<br /> <br />Derivatives Risk - The Fund's use of futures and swaps is subject to market<br />risk, leverage risk, correlation risk and liquidity risk. Leverage risk and<br />liquidity risk are described below. Market risk is the risk that the market<br />value of an investment may move up and down, sometimes rapidly and<br />unpredictably. Correlation risk is the risk that changes in the value of the<br />derivative may not correlate perfectly with the underlying asset, rate or index.<br />The Fund's use of swap agreements is also subject to credit risk and valuation<br />risk. Valuation risk is the risk that the derivative may be difficult to value<br />and/or valued incorrectly. Credit risk is described above. Each of these risks<br />could cause the Fund to lose more than the principal amount invested in a<br />derivative instrument.<br /> <br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br />&#xA0;&#xA0;<br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities<br />will decrease in value if interest rates rise and vice versa. In the case of<br />foreign securities, price fluctuations will reflect international economic and<br />political events, as well as changes in currency valuations relative to the U.S.<br />dollar.<br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal,<br />regulatory and tax environments. These additional risks may be heightened with<br />respect to emerging market countries since political turmoil and rapid changes<br />in economic conditions are more likely to occur in these countries.<br /> <br />Investment Style Risk - The risk that large capitalization securities may<br />underperform other segments of the equity markets or the equity markets as a<br />whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Mortgage-Backed Securities Risk - Mortgage-backed securities are affected by,<br />among other things, interest rate changes and the possibility of prepayment of<br />the underlying mortgage loans. Mortgage-backed securities are also subject to<br />the risk that underlying borrowers will be unable to meet their obligations.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />Short Sales Risk - Short sales expose the Fund to the risk that it will be<br />required to buy the security sold short (also known as "covering" the short<br />position) at a time when the security has appreciated in value, thus resulting<br />in a loss to the Fund.<br /> <br />Small Capitalization Risk - Smaller capitalization companies in which the Fund<br />invests may be more vulnerable to adverse business or economic events than<br />larger, more established companies. In particular, small capitalization<br />companies may have limited product lines, markets and financial resources and<br />may depend upon a relatively small management group. Therefore, small<br />capitalization stocks may be more volatile than those of larger companies.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past eight years and by showing how the Fund's average<br />annual returns for 1 and 5 years, and since the Fund's inception, compared with<br />those of a broad measure of market performance. The performance information<br />shown is based on full calendar years. The Fund's past performance (before and<br />after taxes) is not necessarily an indication of how the Fund will perform in<br />the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006769Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006769Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> S&P 500 Index Return (reflects no deduction for fees, expenses or taxes) 0.0211 -0.0025 0.0479 2003-08-28 Return After Taxes on Distributions and Sale of Fund Shares 0.0106 -0.0234 0.0311 2003-08-28 Return After Taxes on Distributions 0.0081 -0.0317 0.0285 2003-08-28 SCPAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 50 2009-06-30 157 -0.2566 0.1135 0.1497 616 274 0.0385 0.1599 0.0118 0.0007 -0.4198 0.0040 2008-12-31 0.2525 -0.0257 0.0697 The Fund's total return 0.0118 0.00 0.0049 0.1552 0.0365 2003-08-28 0.0970 0.0002 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 12%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006768Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006768Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Investment results that correspond to the aggregate price and dividend<br />performance of the securities in the Russell 1000 Index.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>The Large Cap Index Fund invests substantially all of its assets in securities<br />(mostly common stocks) of U.S. companies that are included at the time of<br />purchase in the Russell 1000 Index, which is composed of the 1,000 largest U.S.<br />companies with market capitalizations between $212.3 million and $572.4 billion<br />as of July 31, 2012. The market capitalization range and the composition of the<br />Russell 1000 Index are subject to change. The Fund's ability to replicate the<br />performance of the Russell 1000 Index will depend to some extent on the size and<br />timing of cash flows into and out of the Fund, as well as on the level of the<br />Fund's expenses. The Sub-Adviser selects the Fund's securities under the general<br />supervision of SIMC, but the Sub-Adviser makes no attempt to "manage" the Fund<br />in the traditional sense (i.e., by using economic, market or financial<br />analyses). Instead, the Sub-Adviser purchases a basket of securities that<br />includes a representative sample of the companies in the Russell 1000 Index.<br />However, the Fund's Sub-Adviser may, but is not required to, sell an investment<br />if the merit of the investment has been substantially impaired by extraordinary<br />events, such as fraud or a material adverse change in an issuer, or adverse<br />financial conditions. In addition, for liquidity purposes, the Fund may invest<br />in securities that are not included in the Russell 1000 Index, cash and cash<br />equivalents or money market instruments, such as reverse repurchase agreements<br />and money market funds. The Fund may also invest in ETFs based on a large<br />capitalization index.</tt> LARGE CAP INDEX FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.12 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past nine years and by showing how the Fund's average annual returns for 1 and 5 years, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 16.46% (06/30/09)<br /> <br />Worst Quarter: -22.51% (12/31/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 9.31%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Investment Style Risk - The risk that its investment approach, which attempts to<br />replicate the performance of the Russell 1000 Index, may underperform other<br />segments of the equity markets or the equity markets as a whole. The Fund is<br />also subject to the risk that large capitalization securities may underperform<br />other segments of the equity markets or the equity markets as a whole.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Sampling Risk - The Fund may not fully replicate the benchmark index and may<br />hold securities not included in the index. As a result, the Fund may not track<br />the return of its benchmark index as well as it would have if the Fund purchased<br />all of the securities in its benchmark index.<br /> <br />Tracking Error Risk - The risk that the Fund's performance may vary<br />substantially from the performance of the benchmark index it tracks as a result<br />of cash flows, Fund expenses, imperfect correlation between the Fund's and<br />benchmark's investments and other factors.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past nine years and by showing how the Fund's average<br />annual returns for 1 and 5 years, and since the Fund's inception, compared with<br />those of a broad measure of market performance. The performance information<br />shown is based on full calendar years. The Fund's past performance (before and<br />after taxes) is not necessarily an indication of how the Fund will perform in<br />the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006768Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006768Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> Russell 1000 Index Return (reflects no deduction for fees, expenses or taxes) 0.0150 -0.0002 0.0402 2002-04-01 Return After Taxes on Distributions and Sale of Fund Shares 0.0130 -0.0015 0.0270 2002-04-01 Return After Taxes on Distributions 0.0115 -0.0053 0.0283 2002-04-01 LCIAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 26 2009-06-30 80 -0.2251 0.1127 0.1607 318 141 0.0575 0.1646 0.0147 0.0007 -0.3769 0.0017 2008-12-31 0.2860 -0.0004 0.0618 The Fund's total return 0.0147 0.2953 0.00 0.0025 0.1540 0.0329 2002-04-01 0.0931 0.0001 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 83%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006767Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006767Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Long-term growth of capital and income.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the Large Cap Fund will invest at least 80% of its<br />net assets (plus the amount of any borrowings for investment purposes) in equity<br />securities of large companies. For purposes of this Fund, a large company is a<br />company with a market capitalization in the range of companies in the Russell<br />1000 Index (between $212.3 million and $572.4 billion as of July 31, 2012) at<br />the time of purchase. The market capitalization range and the composition of the<br />Russell 1000 Index are subject to change. These securities may include common<br />stocks, preferred stocks, warrants and exchange-traded funds (ETFs). The Fund may <br />also, to a lesser extent, invest in common and preferred stocks of small <br />capitalization companies. The Fund uses a multi-manager approach, relying on a <br />number of sub-advisers (each, a Sub-Adviser and collectively, the Sub-Advisers)<br />with differing investment philosophies and strategies to manage portions of the <br />Fund's portfolio under the general supervision of SEI Investments Management <br />Corporation (SIMC).<br /> <br />The Sub-Advisers may engage in short sales in an amount up to 20% of the Fund's<br />value (measured at the time of investment) in an attempt to capitalize on equity<br />securities that they believe will underperform the market or their peers. When<br />the Sub-Advisers sell securities short, they may use the proceeds from the sales<br />to purchase long positions in additional equity securities that they believe<br />will outperform the market or their peers. This strategy may effectively result<br />in the Fund having a leveraged investment portfolio, which increases the<br />potential for loss.</tt> LARGE CAP FUND EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.83 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past ten years and by showing how the Fund's average annual returns for 1, 5 and 10 years, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 17.27% (06/30/09)<br /> <br />Worst Quarter: -21.67% (12/31/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 9.09%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Investment Style Risk - The risk that large capitalization securities may<br />underperform other segments of the equity markets or the equity markets as a<br />whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Short Sales Risk - Short sales expose the Fund to the risk that it will be<br />required to buy the security sold short (also known as "covering" the short<br />position) at a time when the security has appreciated in value, thus resulting<br />in a loss to the Fund. Reinvesting proceeds received from short selling may<br />create leverage, which can amplify the effects of market volatility on the<br />Fund's share price.<br /> <br />Small Capitalization Risk - Smaller capitalization companies in which the Fund<br />invests may be more vulnerable to adverse business or economic events than<br />larger, more established companies. In particular, small capitalization<br />companies may have limited product lines, markets and financial resources and<br />may depend upon a relatively small management group. Therefore, small<br />capitalization stocks may be more volatile than those of larger companies.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past ten years and by showing how the Fund's average annual<br />returns for 1, 5 and 10 years, and since the Fund's inception, compared with<br />those of a broad measure of market performance. The performance information<br />shown is based on full calendar years. The Fund's past performance (before and<br />after taxes) is not necessarily an indication of how the Fund will perform in<br />the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006767Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006767Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> Russell 1000 Index Return (reflects no deduction for fees, expenses or taxes) 0.0150 -0.0002 0.0334 0.0623 1996-06-14 Return After Taxes on Distributions and Sale of Fund Shares 0.0161 -0.0030 0.0252 0.0492 1996-06-14 Return After Taxes on Distributions -0.0014 -0.0071 0.0264 0.0521 1996-06-14 SLCAX -0.2282 Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 48 2009-06-30 151 -0.2167 0.1198 0.1402 591 263 0.0659 0.1727 0.0074 0.0007 -0.3797 0.0040 2008-12-31 0.2962 -0.0031 0.0768 The Fund's total return 0.0074 0.2805 0.00 0.0299 0.0047 0.1441 0.0586 1996-06-14 0.0909 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 386%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006766Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006766Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Current income consistent with the preservation of capital.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the Core Fixed Income Fund will invest at least 80%<br />of its net assets (plus the amount of any borrowings for investment purposes) in<br />fixed income securities. The Fund will invest in investment and non-investment<br />grade (junk bond) U.S. and foreign corporate and government fixed income<br />securities, including emerging market, asset-backed securities and<br />mortgage-backed securities. The Fund may invest in securities denominated in<br />either U.S. dollars or foreign currency. The Fund uses a multi-manager approach,<br />relying upon a number of Sub-Advisers with differing investment philosophies to<br />manage portions of the Fund's portfolio under the general supervision of SIMC.<br />Sub-Advisers are selected for their expertise in managing various kinds of fixed<br />income securities and each Sub-Adviser makes investment decisions based on an<br />analysis of yield trends, credit ratings and other factors in accordance with<br />its particular discipline.<br /> <br />The Fund may also invest in futures contracts, forward contracts and swaps for<br />speculative or hedging purposes. Futures, forwards and swaps are used to<br />synthetically obtain exposure to securities or baskets of securities and to<br />manage the Fund's interest rate duration and yield curve exposure. These<br />derivatives are also used to mitigate the Fund's overall level of risk and/or<br />the Fund's risk to particular types of securities, currencies or market<br />segments. Interest rate swaps are further used to manage the Fund's yield spread<br />sensitivity. When the Fund seeks to take an active long or short position with<br />respect to the likelihood of an event of default of a security or basket of<br />securities, the Fund may use credit default swaps. The Fund may buy credit<br />default swaps in an attempt to manage credit risk where the Fund has credit<br />exposure to an issuer and the Fund may sell credit default swaps to more<br />efficiently gain credit exposure to such security or basket of securities.<br /> <br />The Sub-Advisers may also engage in currency transactions using futures and<br />foreign currency forward contracts, either to seek to hedge the Fund's currency<br />exposure or to enhance the Fund's returns. The Fund may take long and short<br />positions in foreign currencies in excess of the value of the Fund's assets<br />denominated in a particular currency or when the Fund does not own assets<br />denominated in that currency. The Fund will invest primarily in investment grade<br />securities (those rated AAA, AA, A and BBB-). However, the Fund may invest in<br />non-rated securities or securities rated below investment grade (BB+, B and<br />CCC).<br /> <br />The Fund may also invest a portion of its assets in bank loans, which are<br />generally non-investment grade (junk bond) floating rate instruments. The Fund<br />may invest in bank loans in the form of participations in the loans<br />(participations) and assignments of all or a portion of the loans from third<br />parties (assignments).<br /> <br />While each Sub-Adviser chooses securities of different types and maturities, the<br />Fund, in the aggregate, generally will have a dollar-weighted average duration<br />that is consistent with that of the broad U.S. fixed income market, as<br />represented by the Barclays Capital U.S. Aggregate Bond Index. The<br />dollar-weighted average duration of the Barclays Capital U.S. Aggregate Bond<br />Index varies significantly over time, but as of July 31, 2012, it was 4.96<br />years. Duration is a measure of the expected life of a fixed income security<br />that is used to determine the sensitivity of a security's price to changes in<br />interest rates.</tt> CORE FIXED INCOME FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 3.86 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past ten years and by showing how the Fund's average annual returns for 1, 5 and 10 years, and since the Fund's inception, compared with those of a broad measure of market performance. The performance information shown is based on full calendar years. <tt>Best Quarter: 6.56% (09/30/09)<br /> <br />Worst Quarter: -2.54% (09/30/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 3.85%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Asset-Backed Securities Risk - Payment of principal and interest on asset-backed<br />securities is dependent largely on the cash flows generated by the assets<br />backing the securities, and asset-backed securities may not have the benefit of<br />any security interest in the related assets.<br /> <br />Bank Loans Risk - With respect to bank loans, the Fund will assume the credit<br />risk of both the borrower and the lender that is selling the participation. The<br />Fund may also have difficulty disposing of bank loans because, in certain cases,<br />the market for such instruments is not highly liquid.<br /> <br />Below Investment Grade Securities Risk - Fixed income securities rated below<br />investment grade (junk bonds) involve greater risks of default or downgrade and<br />are more volatile than investment grade securities because the prospect for<br />repayment of principal and interest of many of these securities is speculative.<br /> <br />Corporate Fixed Income Securities Risk - Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk - Due to the Fund's active positions in currencies, it will be<br />subject to the risk that currency exchange rates may fluctuate in response to,<br />among other things, changes in interest rates, intervention (or failure to<br />intervene) by U.S. or foreign governments, central banks or supranational<br />entities, or by the imposition of currency controls or other political<br />developments in the United States or abroad.<br /> <br />Derivatives Risk - The Fund's use of futures, forwards and swaps is subject to<br />market risk, leverage risk, correlation risk and liquidity risk. Leverage risk<br />and liquidity risk are described below. Market risk is the risk that the market<br />value of an investment may move up and down, sometimes rapidly and<br />unpredictably. Correlation risk is the risk that changes in the value of the<br />derivative may not correlate perfectly with the underlying asset, rate or index.<br />The Fund's use of forwards and swap agreements is also subject to credit risk<br />and valuation risk. Valuation risk is the risk that the derivative may be<br />difficult to value and/or valued incorrectly. Credit risk is described above.<br />Each of these risks could cause the Fund to lose more than the principal amount<br />invested in a derivative instrument.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities<br />will decrease in value if interest rates rise and vice versa. In the case of<br />foreign securities, price fluctuations will reflect international economic and<br />political events, as well as changes in currency valuations relative to the U.S.<br />dollar.<br />&#xA0;&#xA0;<br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal,<br />regulatory and tax environments. These additional risks may be heightened with<br />respect to emerging market countries since political turmoil and rapid changes<br />in economic conditions are more likely to occur in these countries.<br /> <br />Interest Rate Risk - The risk that the value of fixed income securities,<br />including U.S. Government securities, will fall due to rising interest rates.<br /> <br />Investment Style Risk - The risk that the fixed income securities in which the<br />Fund invests may underperform other segments of the fixed income markets or the<br />fixed income markets as a whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Mortgage-Backed Securities Risk - Mortgage-backed securities are affected by,<br />among other things, interest rate changes and the possibility of prepayment of<br />the underlying mortgage loans. Mortgage-backed securities are also subject to<br />the risk that underlying borrowers will be unable to meet their obligations.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />U.S. Government Securities Risk - Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past ten years and by showing how the Fund's average annual<br />returns for 1, 5 and 10 years, and since the Fund's inception, compared with<br />those of a broad measure of market performance. The performance information<br />shown is based on full calendar years. The Fund's past performance (before and<br />after taxes) is not necessarily an indication of how the Fund will perform in<br />the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006766Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006766Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> Barclays Capital Aggregate Bond Index Return (reflects no deduction for fees, expenses or taxes) 0.0784 0.0650 0.0578 0.0644 1996-06-14 Return After Taxes on Distributions and Sale of Fund Shares 0.0516 0.0478 0.0409 0.0435 1996-06-14 Return After Taxes on Distributions 0.0592 0.0488 0.0413 0.0438 1996-06-14 SCOAX 0.0919 Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 39 2009-09-30 122 -0.0254 0.0487 0.0982 480 213 0.0658 0.0656 0.0800 0.0007 -0.0318 0.0030 2008-09-30 0.1542 0.0715 0.0254 The Fund's total return 0.08 0.0570 0.00 0.0626 0.0038 0.0471 0.0680 1996-06-14 0.0385 0.0001 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 56%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006765Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006765Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the World Equity Ex-US Fund will invest at least 80%<br />of its net assets (plus the amount of any borrowings for investment purposes) in<br />equity securities of foreign companies. These securities may include common<br />stocks, preferred stocks, warrants, ETFs based on an international equity index<br />and derivative instruments, principally futures and forward contracts, whose<br />value is based on an international equity index or an underlying equity security<br />or basket of equity securities. The Fund will invest in securities of foreign<br />issuers located in developed and emerging market countries. However, the Fund<br />will not invest more than 35% of its assets in the common stocks or other equity<br />securities of issuers located in emerging market countries. The Fund uses a<br />multi-manager approach, relying upon a number of Sub-Advisers with differing<br />investment strategies to manage portions of the Fund's portfolio under the<br />general supervision of SIMC. The Fund's benchmark is the MSCI All Country World<br />Ex-U.S. Index (net of dividends). The Fund is expected to have an absolute<br />return and risk profile similar to the international equity market. The Fund is<br />diversified as to issuers, market capitalization, industry and country.<br /> <br />The Sub-Advisers may seek to enhance the Fund's return by actively managing the<br />Fund's foreign currency exposure. In managing the Fund's currency exposure, the<br />Sub-Advisers may buy and sell currencies (i.e., take long or short positions)<br />using futures and foreign currency forward contracts. The Fund may take long and<br />short positions in foreign currencies in excess of the value of the Fund's<br />assets denominated in a particular currency or when the Fund does not own assets<br />denominated in that currency. The Fund may also engage in currency transactions<br />in an attempt to take advantage of certain inefficiencies in the currency<br />exchange market, to increase their exposure to a foreign currency or to shift<br />exposure to foreign currency fluctuations from one currency to another.<br /> <br />The Fund may also invest in futures contracts and forward contracts for hedging<br />purposes, including to seek to manage the Fund's currency exposure to foreign<br />securities and mitigate the Fund's overall risk.</tt> WORLD EQUITY EX-US FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.56 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past six years and by showing how the Fund's average annual returns for 1 and 5 years, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 25.15% (06/30/09)<br /> <br />Worst Quarter: -25.87% (09/30/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 3.63%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk - Due to the Fund's active positions in currencies, it will be<br />subject to the risk that currency exchange rates may fluctuate in response to,<br />among other things, changes in interest rates, intervention (or failure to<br />intervene) by U.S. or foreign governments, central banks or supranational<br />entities, or by the imposition of currency controls or other political<br />developments in the U.S. or abroad.<br /> <br />Derivatives Risk - The Fund's use of futures and forward contracts is subject to<br />market risk, leverage risk, correlation risk and liquidity risk. Leverage risk<br />and liquidity risk are described below. Market risk is the risk that the market<br />value of an investment may move up and down, sometimes rapidly and<br />unpredictably. Correlation risk is the risk that changes in the value of the<br />derivative may not correlate perfectly with the underlying asset, rate or index.<br />The Fund's use of over-the-counter forward contracts is also subject to credit<br />risk and valuation risk. Valuation risk is the risk that the derivative may be<br />difficult to value and/or valued incorrectly. Credit risk is described above.<br />Each of the above risks could cause the Fund to lose more than the principal<br />amount invested in a derivative instrument.<br /> <br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br />&#xA0;&#xA0;<br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal,<br />regulatory and tax environments. These additional risks may be heightened with<br />respect to emerging market countries since political turmoil and rapid changes<br />in economic conditions are more likely to occur in these countries.<br /> <br />Investment Style Risk - The risk that equity securities of developed and<br />emerging market countries may underperform other segments of the equity markets<br />or the equity markets as a whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past six years and by showing how the Fund's average annual<br />returns for 1 and 5 years, and since the Fund's inception, compared with those<br />of a broad measure of market performance. The performance information shown is<br />based on full calendar years. The Fund's past performance (before and after<br />taxes) is not necessarily an indication of how the Fund will perform in the<br />future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006765Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006765Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> MSCI All Country World Ex-US Index Return (reflects no deduction for fees, expenses or taxes) -0.1371 -0.0292 0.0361 2005-03-28 Return After Taxes on Distributions and Sale of Fund Shares -0.0809 -0.0458 0.0169 2005-03-28 Return After Taxes on Distributions -0.1333 -0.0596 0.0143 2005-03-28 WEUSX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 65 2009-06-30 205 -0.2587 0.1295 798 357 0.1316 0.2515 -0.1311 0.0008 -0.4936 0.0055 2008-09-30 0.3479 -0.0539 The Fund's total return -0.1311 0.00 0.0064 0.2754 0.0214 2005-03-28 0.0363 0.0001 The Fund is non-diversified, which means that it may invest in the securities of relatively few issuers. As a result, the Fund may be more susceptible to a single adverse economic or political occurrence affecting one or more of these issuers and may experience increased volatility due to its investments in those securities. <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 55%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006764Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006764Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Maximize total return.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deducation for fees, expenses or taxes <tt>Under normal circumstances, the Emerging Markets Debt Fund will invest at least<br />80% of its net assets (plus the amount of any borrowings for investment<br />purposes) in fixed income securities of emerging market issuers. The Fund will<br />invest in debt securities of government, government-related and corporate<br />issuers in emerging market countries, as well as entities organized to<br />restructure the outstanding debt of such issuers. The Fund may obtain its<br />exposures by investing directly (e.g., in fixed income securities and other<br />instruments) or indirectly/synthetically (e.g., through the use of derivative<br />instruments, principally futures contracts, forward contracts, swaps, including <br />fully funded total return swaps, and structured securities, such as credit-linked <br />notes). Emerging market countries are those countries that are: (i) characterized <br />as developing or emerging by any of the World Bank, the United Nations, the<br />International Finance Corporation, or the European Bank for Reconstruction and<br />Development; (ii) included in an emerging markets index by a recognized index<br />provider; or (iii) countries with similar developing or emerging characteristics<br />as countries classified as emerging market countries pursuant to sub-paragraph<br />(i) and (ii) above, in each case determined at the time of purchase.<br /> <br />The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers<br />with differing investment philosophies to manage portions of the Fund's<br />portfolio under the general supervision of SIMC. The Sub-Advisers will spread<br />the Fund's holdings across a number of countries and industries to limit its<br />exposure to a single emerging market economy and may not invest more than 25% of<br />its assets in any single country. There are no restrictions on the Fund's<br />average portfolio maturity or on the maturity of any specific security. There is<br />no minimum rating standard for the Fund's securities and the Fund's securities<br />will generally be in the lower or lowest rating categories (including those<br />below the fourth highest rating category by an NRSRO, commonly referred to as<br />junk bonds).<br /> <br />The Sub-Advisers seek to enhance the Fund's return by actively managing the<br />Fund's foreign currency exposure. In managing the Fund's currency exposure, the<br />Sub-Advisers buy and sell currencies (i.e., take long or short positions) using<br />derivatives, principally futures and foreign currency forward contracts. The<br />Fund may take long and short positions in foreign currencies in excess of the<br />value of the Fund's assets denominated in a particular currency or when the Fund<br />does not own assets denominated in that currency. The Fund may also engage in<br />currency transactions in an attempt to take advantage of certain inefficiencies<br />in the currency exchange market, to increase its exposure to a foreign currency<br />or to shift exposure to foreign currency fluctuations from one currency to<br />another. In managing the Fund's currency exposure for foreign securities, the<br />Sub-Advisers may buy and sell currencies for hedging or for speculative<br />purposes.</tt> EMERGING MARKETS DEBT FUND EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.55 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past six years and by showing how the Fund's average annual returns for 1 and 5 years, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 15.09% (06/30/09)<br /> <br />Worst Quarter: -11.06% (12/31/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 7.59%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Below Investment Grade Securities Risk - Fixed income securities rated below<br />investment grade (junk bonds) involve greater risks of default or downgrade and<br />are more volatile than investment grade securities because the prospect for<br />repayment of principal and interest of many of these securities is speculative.<br /> <br />Corporate Fixed Income Securities Risk - Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk - Due to the Fund's active positions in currencies, it will be<br />subject to the risk that currency exchange rates may fluctuate in response to,<br />among other things, changes in interest rates, intervention (or failure to<br />intervene) by U.S. or foreign governments, central banks or supranational<br />entities, or by the imposition of currency controls or other political<br />developments in the U.S. or abroad.<br /> <br />Derivatives Risk - The Fund's use of futures contracts, forward contracts, swaps<br />and credit-linked notes is subject to market risk, leverage risk, correlation<br />risk and liquidity risk. Leverage risk and liquidity risk are described below. <br />Market risk is the risk that the market value of an investment may move up and down,<br />sometimes rapidly and unpredictably. Correlation risk is the risk that changes in <br />the value of the derivative may not correlate perfectly with the underlying asset, <br />rate or index. The Fund's use of over-the-counter forward contracts, credit linked <br />notes and swap agreements is also subject to credit risk and valuation risk. <br />Valuation risk is the risk that the derivative may be difficult to value and/or <br />valued incorrectly. Credit risk is described above. Each of the above risks could <br />cause the Fund to lose more than the principal amount invested in a derivative<br />instrument.<br /> <br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities<br />will decrease in value if interest rates rise and vice versa. In the case of<br />foreign securities, price fluctuations will reflect international economic and<br />political events, as well as changes in currency valuations relative to the U.S.<br />dollar.<br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal,<br />regulatory and tax environments. These additional risks may be heightened with<br />respect to emerging market countries since political turmoil and rapid changes<br />in economic conditions are more likely to occur in these countries.<br /> <br />Foreign Sovereign Debt Securities Risk - The risk that: (i) the governmental<br />entity that controls the repayment of sovereign debt may not be willing or able<br />to repay the principal and/or interest when it becomes due, due to factors such<br />as debt service burden, political constraints, cash flow problems and other<br />national economic factors; (ii) governments may default on their debt<br />securities, which may require holders of such securities to participate in debt<br />rescheduling or additional lending to defaulting governments; and (iii) there is<br />no bankruptcy proceeding by which defaulted sovereign debt may be collected in<br />whole or in part.<br /> <br />Investment Style Risk - The risk that emerging market debt securities may<br />underperform other segments of the fixed income markets or the fixed income<br />markets as a whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Non-Diversified Risk - The Fund is non-diversified, which means that it may<br />invest in the securities of relatively few issuers. As a result, the Fund may be<br />more susceptible to a single adverse economic or political occurrence affecting<br />one or more of these issuers and may experience increased volatility due to its<br />investments in those securities.<br />&#xA0;&#xA0;<br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past six years and by showing how the Fund's average annual<br />returns for 1 and 5 years, and since the Fund's inception, compared with those<br />of a broad measure of market performance. The performance information shown is<br />based on full calendar years. The Fund's past performance (before and after<br />taxes) is not necessarily an indication of how the Fund will perform in the<br />future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006764Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006764Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>This table compares the Fund's average annual total returns to those of a<br />broad-based index and the Fund's 50/50 Blended Benchmark, which consists of the<br />J.P. Morgan EMBI Global Diversified Index (50%) and the J.P. Morgan GBI-EM<br />Global Diversified Index (50%). The Fund's Blended Benchmark is designed to<br />provide a useful comparison to the Fund's overall performance and more<br />accurately reflects the Fund's investment strategy than the broad-based index.<br /> <br />After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> J.P. Morgan EMBI Global Diversified Index Return (reflects no deduction for fees, expenses or taxes) 0.0735 0.0787 0.0837 2005-12-05 The Fund's Blended Benchmark Return (reflects no deducation for fees, expenses or taxes) 0.0279 0.0862 0.0939 2005-12-05 Return After Taxes on Distributions and Sale of Fund Shares 0.0370 0.0573 0.0642 2005-12-05 Return After Taxes on Distributions 0.0267 0.0582 0.0662 2005-12-05 SEDAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 95 2009-06-30 296 -0.1106 0.1523 1143 515 0.0642 0.1509 0.0542 0.0008 -0.1746 0.0085 2008-12-31 0.4236 0.0872 The Fund's total return 0.0542 0.00 0.0093 0.1194 0.0942 2005-12-05 0.0759 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 50%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006763Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006763Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Total return.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the High Yield Bond Fund will invest at least 80% of<br />its net assets (plus the amount of any borrowings for investment purposes) in<br />high yield fixed income securities. The Fund will invest primarily in fixed<br />income securities rated below investment grade (junk bonds), including corporate<br />bonds and debentures, convertible and preferred securities and zero coupon<br />obligations.<br /> <br />The Fund uses a multi-manager approach, relying upon a number of Sub-Advisers<br />with differing investment philosophies to manage portions of the Fund's<br />portfolio under the general supervision of SIMC. To a limited extent, SIMC may<br />also directly manage a portion of the Fund's portfolio. In managing the Fund's<br />assets, the Sub-Advisers and, to the extent applicable, SIMC, select securities<br />that offer a high current yield as well as total return potential. The Fund's<br />securities are diversified as to issuers and industries. The Fund's average<br />weighted maturity may vary and will generally not exceed ten years. There is no<br />limit on the maturity or on the credit quality of any security.<br /> <br />As noted above, the Fund will invest primarily in securities rated BB, B, CCC,<br />CC, C and D. However, it may also invest in non-rated securities or securities<br />rated investment grade (AAA, AA, A and BBB). The Fund may also invest in ETFs to<br />gain exposure to a particular portion of the market while awaiting an<br />opportunity to purchase securities directly. The Fund may also invest a portion<br />of its assets in bank loans, which are generally non-investment grade (junk<br />bond) floating rate instruments. The Fund may invest in bank loans in the form<br />of participations in the loans (participations) and assignments of all or a<br />portion of the loans from third parties (assignments).</tt> HIGH YIELD BOND FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.50 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past six years and by showing how the Fund's average annual returns for 1 and 5 years, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 22.79% (06/30/09)<br /> <br />Worst Quarter: -20.84% (12/31/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 7.91%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Bank Loans Risk - With respect to bank loans, the Fund will assume the credit<br />risk of both the borrower of the loan and the lender that is selling the<br />participation in the loan. The Fund may also have difficulty disposing of bank<br />loans because, in certain cases, the market for such instruments is not highly<br />liquid.<br /> <br />Below Investment Grade Securities Risk - Fixed income securities rated below<br />investment grade (junk bonds) involve greater risks of default or downgrade and<br />are more volatile than investment grade securities because the prospect for<br />repayment of principal and interest of many of these securities is speculative.<br /> <br />Convertible and Preferred Securities - Convertible and preferred securities have<br />many of the same characteristics as stocks, including many of the same risks. In<br />addition, convertible bonds may be more sensitive to changes in interest rates<br />than stocks. Convertible bonds may also have credit ratings below investment<br />grade, meaning that they carry a higher risk of failure by the issuer to pay<br />principal and/or interest when due.<br /> <br />Corporate Fixed Income Securities Risk - Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br />&#xA0;&#xA0;<br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities<br />will decrease in value if interest rates rise and vice versa. In the case of<br />foreign securities, price fluctuations will reflect international economic and<br />political events, as well as changes in currency valuations relative to the U.S.<br />dollar.<br /> <br />Interest Rate Risk - The risk that the Fund's yield will decline due to falling<br />interest rates. A rise in interest rates typically causes a fall in values of<br />fixed income securities in which the Fund invests, while a fall in interest<br />rates typically causes a rise in values of such securities.<br /> <br />Investment Style Risk - The risk that high yield fixed income securities may<br />underperform other segments of the fixed income markets or the fixed income<br />markets as a whole.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fund Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past six years and by showing how the Fund's average annual<br />returns for 1 and 5 years, and since the Fund's inception, compared with those<br />of a broad measure of market performance. The performance information shown is<br />based on full calendar years. The Fund's past performance (before and after<br />taxes) is not necessarily an indication of how the Fund will perform in the<br />future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006763Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006763Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> BofA Merrill Lynch U.S. High Yield Constrained Index Return (reflects no deduction for fees, expenses or taxes) 0.0437 0.0754 0.0813 2005-12-05 Return After Taxes on Distributions and Sale of Fund Shares 0.0339 0.0421 0.0475 2005-12-05 Return After Taxes on Distributions 0.0236 0.0396 0.0458 2005-12-05 SGYAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 58 2009-06-30 183 -0.2084 0.1760 714 318 0.0204 0.2279 0.0524 0.0007 -0.2823 0.0049 2008-12-31 0.5833 0.0749 The Fund's total return 0.0524 0.00 0.0057 0.1063 0.0807 2005-12-05 0.0791 0.0001 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 121%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006762Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006762Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Return characteristics similar to those of high quality corporate bonds, with a<br />duration range of between nine and fourteen years.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for fees, expenses or taxes <tt>Under normal circumstances, the Long Duration Fund will invest at least 80% of<br />its net assets (plus the amount of any borrowings for investment purposes) in<br />long duration fixed income securities and synthetic instruments or derivatives<br />having economic characteristics similar to fixed income securities. The Fund<br />invests in a broad array of investment grade fixed income instruments, including<br />securities issued or guaranteed by the U.S. Government and its agencies and<br />instrumentalities and corporate bonds.<br /> <br />The Fund will invest primarily in long duration government and corporate fixed<br />income securities and may also invest in futures contracts, forward contracts<br />and swaps for speculative or hedging purposes. Futures, forwards and swaps are<br />used to synthetically obtain exposure to securities or baskets of securities and<br />to manage the Fund's interest rate duration and yield curve exposure. These<br />derivatives are also used to mitigate the Fund's overall level of risk and/or<br />the Fund's risk to particular types of securities, currencies or market<br />segments. Interest rate swaps are further used to manage the Fund's yield spread<br />sensitivity. When the Fund seeks to take an active long or short position with<br />respect to the likelihood of an event of default of a security or basket of<br />securities, the Fund may use credit default swaps. The Fund may buy credit<br />default swaps in an attempt to manage credit risk where the Fund has credit<br />exposure to an issuer and the Fund may sell credit default swaps to more<br />efficiently gain credit exposure to such security or basket of securities.<br /> <br />The Fund will invest primarily in fixed income securities rated in one of the<br />three highest rating categories by a major rating agency and may also invest, to<br />a lesser extent, in fixed income securities rated in the fourth highest rating<br />category by a major rating agency. The Fund may also invest in unrated fixed<br />income securities that are determined by the Sub-Advisers to be of equivalent<br />quality to those securities rated in one of the four highest rating categories.<br />The Fund is expected to maintain an effective average duration of between nine<br />and fourteen years. The Fund's effective average duration was 13.68 years as of<br />July 31, 2012. Duration is a measure that is used to determine the sensitivity<br />of a security's price to changes in interest rates. For each year of duration of<br />a fixed income security, a 1% change in interest rates will result in a 1%<br />change in the value of the security. For example, a duration of ten years means<br />that the fixed income security's price will change by 10% if interest rates<br />change by 1%.<br /> <br />The Fund uses Sub-Advisers to manage the Fund's portfolio under the general<br />supervision of SIMC. The Sub-Advisers are selected for their expertise in<br />managing various kinds of fixed income securities, and the Sub-Advisers make<br />investment decisions based on an analysis of yield trends, credit ratings and<br />other factors in accordance with their particular discipline. To a lesser<br />extent, the Fund may also invest in ETFs to gain exposure to a particular<br />portion of the market while awaiting an opportunity to purchase securities<br />directly.</tt> LONG DURATION FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 1.21 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past seven years and by showing how the Fund's average annual returns for 1 and 5 years, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 13.85% (09/30/11)<br /> <br />Worst Quarter: -5.85% (06/30/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 5.81%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Corporate Fixed Income Securities Risk - Corporate fixed income securities<br />respond to economic developments, especially changes in interest rates, as well<br />as perceptions of the creditworthiness and business prospects of individual<br />issuers.<br /> <br />Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Derivatives Risk - The Fund's use of futures contracts, forward contracts and<br />swaps is subject to market risk, leverage risk, correlation risk and liquidity<br />risk. Leverage risk and liquidity risk are described below. Market risk is the<br />risk that the market value of an investment may move up and down, sometimes <br />rapidly and unpredictably. Correlation risk is the risk that changes in the<br />value of the derivative may not correlate perfectly with the underlying asset, <br />rate or index. The Fund's use of forwards and swap agreements is also subject to <br />credit risk and valuation risk. Valuation risk is the risk that the derivative <br />may be difficult to value and/or valued incorrectly. Credit risk is described<br />above. Each of these risks could cause the Fund to lose more than the principal <br />amount invested in a derivative instrument.<br /> <br />Duration Risk - The longer-term securities in which the Fund may invest are more<br />volatile. A portfolio with a longer average portfolio duration is more sensitive<br />to changes in interest rates than a portfolio with a shorter average portfolio<br />duration.<br /> <br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Extension Risk - The risk that rising interest rates may extend the duration of<br />a fixed income security, typically reducing the security's value.<br /> <br />Fixed Income Market Risk - The prices of the Fund's fixed income securities<br />respond to economic developments, particularly interest rate changes, as well as<br />to perceptions about the creditworthiness of individual issuers, including<br />governments and their agencies. Generally, the Fund's fixed income securities<br />will decrease in value if interest rates rise and vice versa. In the case of<br />foreign securities, price fluctuations will reflect international economic and<br />political events, as well as changes in currency valuations relative to the U.S.<br />dollar.<br /> <br />Investment Style Risk - The risk that longer-term U.S. fixed income securities<br />may underperform other segments of the fixed income markets or the fixed income<br />markets as a whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Prepayment Risk - The risk that with declining interest rates, fixed income<br />securities with stated interest rates may have the principal paid earlier than<br />expected, requiring the Fund to invest the proceeds at generally lower interest<br />rates.<br /> <br />U.S. Government Securities Risk - Although U.S. Government securities are<br />considered to be among the safest investments, they are not guaranteed against<br />price movements due to changing interest rates. Obligations issued by some U.S.<br />Government agencies are backed by the U.S. Treasury, while others are backed<br />solely by the ability of the agency to borrow from the U.S. Treasury or by the<br />agency's own resources.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past seven years and by showing how the Fund's average<br />annual returns for 1 and 5 years, and since the Fund's inception, compared with<br />those of a broad measure of market performance. The performance information<br />shown is based on full calendar years. The Fund's past performance (before and<br />after taxes) is not necessarily an indication of how the Fund will perform in<br />the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006762Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006762Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>This table compares the Fund's average annual total returns to those of a<br />broad-based index and the Fund's 60/40 Blended Benchmark, which consists of the<br />Barclays Capital U.S. Long Credit Index and the Barclays Capital U.S. Long<br />Government Index. The Fund's Blended Benchmark is designed to provide a useful<br />comparison to the Fund's overall performance and more accurately reflects the<br />Fund's investment strategy than the broad-based index.<br /> <br />After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> The Fund's Blended Benchmark Return (reflects no deduction for fees, expenses or taxes) 0.2202 0.0962 0.0851 2004-04-21 Barclays Capital Long U.S. Government/Credit Index (reflects no deduction for fees, expenses or taxes) 0.2249 0.0971 0.0856 2004-04-21 Return After Taxes on Distributions and Sale of Fund Shares 0.1368 0.0400 0.0378 2004-04-21 Return After Taxes on Distributions 0.1649 0.0389 0.0367 2004-04-21 LDRAX Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 39 2011-09-30 122 -0.0585 0.1268 480 213 0.0306 0.1385 0.2050 0.0007 -0.0552 0.0030 2008-06-30 0.0338 0.0645 0.0377 The Fund's total return 0.2050 0.00 0.0038 0.0339 0.0610 2004-04-21 0.0581 0.0001 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual Fund operating expenses or in the Example, affect the Fund's performance.<br />During the most recent fiscal year, the Fund's portfolio turnover rate was 59%<br />of the average value of its portfolio.</tt> <div style="display:none">~ http://www.seic.com/role/ExpenseExample_S000006761Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/BarChartData_S000006761Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Capital appreciation.</tt> <tt>This Example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the Fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> Average Annual Total Returns (for the periods ended December 31, 2011) reflects no deduction for expenses or taxes <tt>Under normal circumstances, the International Equity Fund will invest at least<br />80% of its net assets (plus the amount of any borrowings for investment<br />purposes) in equity securities. Equity securities may include common stocks,<br />preferred stocks, warrants and depositary receipts. The Fund will invest<br />primarily in equity securities of issuers of all capitalization ranges that are<br />located in at least three countries other than the U.S. It is expected that at<br />least 40% of the Fund's assets will be invested outside the U.S. The Fund will<br />invest primarily in companies located in developed countries, but may also<br />invest in companies located in emerging markets. Generally, the Fund will invest<br />less than 20% of its assets in emerging markets. The Fund's benchmark is the<br />MSCI Europe, Australasia and Far East (EAFE) Index (net of dividends). The Fund<br />is expected to have an absolute return and risk profile similar to the<br />international equity market. The Fund is diversified as to issuers, market<br />capitalization, industry and country.<br /> <br />The Fund may invest in futures contracts and forward contracts (also called<br />"forwards") for hedging purposes, including to seek to manage the Fund's<br />currency exposure to foreign securities and mitigate the Fund's overall risk.<br /> <br />The Fund may purchase shares of ETFs to gain exposure to a particular portion of<br />the market while awaiting an opportunity to purchase shares directly.</tt> INTERNATIONAL EQUITY FUND Because the Fund incurred AFFE during the most recent fiscal year, the operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements (or the "Financial Highlights" section in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies. EXAMPLE After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Goal The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. Principal Risks Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: 0.59 Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Performance Information The bar chart and the performance table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for the past ten years and by showing how the Fund's average annual returns for 1, 5 and 10 years, and since the Fund's inception, compared with those of a broad measure of market performance. <tt>Best Quarter: 22.49% (06/30/09)<br /> <br />Worst Quarter: -25.27% (09/30/08)<br /> <br />The Fund's total return from January 1, 2012 to June 30, 2012 was 3.13%.</tt> 1-800-DIAL-SEI ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) PORTFOLIO TURNOVER <tt>Credit Risk - The risk that the issuer of a security or the counterparty to a<br />contract will default or otherwise become unable to honor a financial<br />obligation.<br /> <br />Currency Risk - As a result of the Fund's investments in securities denominated<br />in, and/or receiving revenues in, foreign currencies, the Fund will be subject<br />to currency risk. Currency risk is the risk that foreign currencies will decline<br />in value relative to the U.S. dollar or, in the case of hedging positions, that<br />the U.S. dollar will decline in value relative to the currency hedged. In either<br />event, the dollar value of an investment in the Fund would be adversely<br />affected.<br /> <br />Depositary Receipts - Depositary receipts are certificates evidencing ownership<br />of shares of a foreign issuer that are issued by depositary banks and generally<br />trade on an established market. Depositary receipts are subject to many of the<br />risks associated with investing directly in foreign securities, including, among<br />other things, political, social and economic developments abroad, currency<br />movements, and different legal, regulatory and tax environments.<br /> <br />Derivatives Risk - The Fund's use of futures and forward contracts is subject to<br />market risk, leverage risk, correlation risk and liquidity risk. Leverage risk<br />and liquidity risk are described below. Market risk is the risk that the market<br />value of an investment may move up and down, sometimes rapidly and<br />unpredictably. Correlation risk is the risk that changes in the value of the<br />derivative may not correlate perfectly with the underlying asset, rate or index.<br />The Fund's use of over-the-counter forward contracts is also subject to credit<br />risk and valuation risk. Valuation risk is the risk that the derivative may be<br />difficult to value and/or valued incorrectly. Credit risk is described above.<br />Each of the above risks could cause the Fund to lose more than the principal<br />amount invested in a derivative instrument.<br /> <br />Equity Market Risk - The risk that stock prices will fall over short or extended<br />periods of time.<br />&#xA0;&#xA0;<br />Exchange-Traded Funds (ETFs) Risk - The risks of owning shares of an ETF<br />generally reflect the risks of owning the underlying securities the ETF is<br />designed to track, although lack of liquidity in an ETF could result in its<br />value being more volatile than the underlying portfolio securities.<br /> <br />Foreign Investment/Emerging Markets Risk - The risk that non-U.S. securities may<br />be subject to additional risks due to, among other things, political, social and<br />economic developments abroad, currency movements, and different legal,<br />regulatory and tax environments. These additional risks may be heightened with<br />respect to emerging market countries since political turmoil and rapid changes<br />in economic conditions are more likely to occur in these countries.<br /> <br />Investment Style Risk - The risk that developed international equity securities<br />may underperform other segments of the equity markets or the equity markets as a<br />whole.<br /> <br />Leverage Risk - The use of leverage can amplify the effects of market volatility<br />on the Fund's share price and may also cause the Fund to liquidate portfolio<br />positions when it would not be advantageous to do so in order to satisfy its<br />obligations.<br /> <br />Liquidity Risk - The risk that certain securities may be difficult or impossible<br />to sell at the time and the price that the Fund would like. The Fund may have to<br />lower the price, sell other securities instead or forego an investment<br />opportunity, any of which could have a negative effect on Fund management or<br />performance.<br /> <br />Portfolio Turnover Risk - Due to its investment strategy, the Fund may buy and<br />sell securities frequently. This may result in higher transaction costs and<br />additional capital gains tax liabilities.<br /> <br />Small and Medium Capitalization Risk - The risk that small and medium<br />capitalization companies in which the Fund invests may be more vulnerable to<br />adverse business or economic events than larger, more established companies. In<br />particular, small and medium capitalization companies may have limited product<br />lines, markets and financial resources, and may depend upon a relatively small<br />management group. Therefore, small capitalization and medium capitalization<br />stocks may be more volatile than those of larger companies. Small capitalization<br />and medium capitalization stocks may be traded over the counter or listed on an<br />exchange.<br /> <br />Loss of money is a risk of investing in the Fund.</tt> Fees and Expenses Principal Investment Strategies <tt>The bar chart and the performance table below provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year for the past ten years and by showing how the Fund's average annual<br />returns for 1, 5 and 10 years, and since the Fund's inception, compared with<br />those of a broad measure of market performance. The performance information<br />shown is based on full calendar years. The Fund's past performance (before and<br />after taxes) is not necessarily an indication of how the Fund will perform in<br />the future. For current performance information, please call 1-800-DIAL-SEI.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />Fund shares.</tt> <div style="display:none">~ http://www.seic.com/role/OperatingExpensesData_S000006761Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.seic.com/role/PerformanceTableData_S000006761Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <tt>After-tax returns are calculated using the historical highest individual federal<br />marginal income tax rates and do not reflect the impact of state and local<br />taxes. Your actual after-tax returns will depend on your tax situation and may<br />differ from those shown. After-tax returns shown are not relevant to investors<br />who hold their Fund shares through tax-deferred arrangements, such as 401(k)<br />plans or individual retirement accounts.</tt> MSCI EAFE Index Return (reflects no deduction for fees, expenses or taxes) -0.1214 -0.0472 0.0467 0.0340 1996-06-14 Return After Taxes on Distributions and Sale of Fund Shares -0.0805 -0.0644 0.0245 0.0199 1996-06-14 Return After Taxes on Distributions -0.1353 -0.0881 0.0167 0.0138 1996-06-14 SNTAX -0.1539 Worst Quarter: Best Quarter: 2012-06-30 Return Before Taxes 67 2009-06-30 211 -0.2527 0.1943 0.1123 822 368 0.08 0.2249 -0.1343 0.0014 -0.4814 0.0051 2008-09-30 0.2426 -0.0770 0.1504 The Fund's total return -0.1343 0.3412 0.00 0.0290 0.0066 0.2741 0.0257 1996-06-14 0.0313 0.0001 0000939934 ck0000939934:SummaryS000006761Memberck0000939934:S000006761Memberck0000939934:C000018350Member 2012-09-30 2012-09-30 0000939934 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Index returns are shown from June 30, 1996. Index returns are shown from April 30, 2004. Index returns are shown from December 31, 2005. Index returns are shown from March 31, 2005. Index returns are shown from April 30, 2002. Index returns are shown from August 31, 2003. Index returns are shown from December 31, 2003. Other Expenses are based on estimated amounts for the current fiscal year. Index returns are shown from December 31, 2008. Index returns are shown from December 31, 2006. 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