Fund Evaluator:

SEI Multi-Strategy Alternative Y (SIMT) Overview

SEI Multi-Strategy Alternative Y (SIMT) (SMUYX) is an actively managed Alternative Multistrategy fund. SEI launched the fund in 2015.

The investment seeks to generate an absolute return with reduced correlation to the stock and bond markets. The advisor employs a strategy intended to generate an absolute (i.e., positive) return in various market cycles with reduced correlation to the stock and bond markets. The fund allocates its assets among a variety of investment strategies through the use of: (i) affiliated and unaffiliated funds, including open-end funds, closed-end funds and exchange traded funds (underlying funds); and/or (ii) one or more investment sub-advisers (each, a Sub-Adviser and collectively, the Sub-Advisers).

About SEI Multi-Strategy Alternative Y (SIMT) (SMUYX)

There are 6 members of the management team with an average tenure of 9.26 years: Mark Lee (2015), Steven Hornstein (2020), Radoslav Koitchev (2016), Andrew Kurita (2016), Douglas Pardon (2017), Donald Morgan (2017). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. SEI Multi-Strategy Alternative Y (SIMT) has 498 securities in its portfolio. The top 10 holdings constitute 33.6% 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 Multi-Strategy Alternative Y (SIMT) is part of the Alternative Strategies global asset class and is within the Alternative fund group. SEI Multi-Strategy Alternative Y (SIMT) has 7.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 33.7%. There is 5.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 30.8% (28.9% domestic bond, 1.9% foreign bond and 0.4% convertible bond). SEI Multi-Strategy Alternative Y (SIMT) has 29.6% of the portfolio in cash.

Assets Under Management

The fund has $6 million in total assets, which is below the $511 million average for the Multistrategy 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.

SMUYX 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 Multi-Strategy Alternative Y (SIMT) expense ratio is high compared to funds in the Multistrategy category. SEI Multi-Strategy Alternative Y (SIMT) has an expense ratio of 1.69%, which is 18% lower than its category average, making the fund expense ratio grade a C. 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 Multi-Strategy Alternative Y (SIMT) has a portfolio turnover rate of 358%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 289% for the Multistrategy category.

Recently, in the month of July 2026, SEI Multi-Strategy Alternative Y (SIMT) returned -1.2%, which earned it a grade of F, as the Multistrategy category had an average return of 0.8%. 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 Multi-Strategy Alternative Y (SIMT) has a trailing yield of 5.04%, which is above the 2.97% category average. The fund normally distributes its income annually 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 Multi-Strategy Alternative Y (SIMT) Grades

Year to date, the fund has returned 6.2%, 1.0 percentage points better than the category, which translates into a grade of B. The fund has returned 12.4% over the past year (grade of B), 9.4% over the past three years (grade of A) and 5.3% per year over the past five years (grade of B) and 4.8% per year over the past 10 years (grade of A).

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