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SEI Conservative Strategy Allc F (SAAT) Overview

SEI Conservative Strategy Allc F (SAAT) (SMGAX) is an actively managed Allocation Moderate Allocation fund. SEI launched the fund in 2003.

The investment seeks to generate investment income while providing opportunity for capital appreciation. The fund invests in other SEI Funds, each of which has its own investment goal (the Underlying SEI Funds), that form the non-underlying muni bond fund component of the GoalLink Strategy. The Underlying SEI Funds invest, in turn, in securities and other instruments of various asset classes. The fund's assets may be diversified across underlying SEI equity funds, bond and money market funds, and real estate funds.

About SEI Conservative Strategy Allc F (SAAT) (SMGAX)

There are 2 members of the management team with an average tenure of 7.09 years: Bryan Hoffman (2016), Ryan Marcante (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 4 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100%, ICE BofA US 3M Trsy Bill TR USD index with a weighting of 20%, ICE BofA US HY Constnd TR USD index with a weighting of 30% and S&P 500 (TR) (1970) index with a weighting of 50%. SEI Conservative Strategy Allc F (SAAT) has 4 securities in its portfolio. The top 10 holdings constitute 100.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

SEI Conservative Strategy Allc F (SAAT) is part of the Allocation global asset class and is within the Allocation fund group. SEI Conservative Strategy Allc F (SAAT) has 5.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 46.6%. There is 0.8% allocated to foreign stock, and 4.6% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 27.2% (22.6% domestic bond, 4.5% foreign bond and 0.0% convertible bond). SEI Conservative Strategy Allc F (SAAT) has 20.9% of the portfolio in cash.

Assets Under Management

The fund has $13 million in total assets, which is below the $2 billion average for the Moderate Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

SMGAX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The SEI Conservative Strategy Allc F (SAAT) expense ratio is high compared to funds in the Moderate Allocation category. SEI Conservative Strategy Allc F (SAAT) has an expense ratio of 1.26%, which is 27% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. SEI Conservative Strategy Allc F (SAAT) has a portfolio turnover rate of 15%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 52% for the Moderate Allocation category.

Recently, in the month of August 2026, SEI Conservative Strategy Allc F (SAAT) returned 0.6%, which earned it a grade of F, as the Moderate Allocation category had an average return of 1.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

SEI Conservative Strategy Allc F (SAAT) has a trailing yield of 4.26%, which is above the 1.95% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

SEI Conservative Strategy Allc F (SAAT) Grades

Year to date, the fund has returned 6.7%, 1.3 percentage points worse than the category, which translates into a grade of D. The fund has returned 7.5% over the past year (grade of F), 9.5% over the past three years (grade of F) and 5.3% per year over the past five years (grade of F) and 6.1% per year over the past 10 years (grade of F).

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