M&A - SEI Exchange Traded Funds

Form Type: N-14

Filing Date: 2025-06-25

Corporate Action: Merger

Type: New

Accession Number: 000110465925062589

Filing Summary: The SEI Exchange Traded Funds are proceeding with a proposed Reorganization of the SIMT Liquid Alternative Fund into the SEI Liquid Alternative ETF. This transaction is planned to close on August 25, 2025, and aims to transition the Target Fund from a mutual fund structure to an exchange-traded fund (ETF) structure. Under the terms of the Agreement and Plan of Reorganization, the Target Fund will liquidate and distribute its assets in exchange for shares of the Acquiring Fund. There will be a total liquidation of the Target Fund, which will cease to exist after the distribution of the Acquiring Fund's shares. Shareholders of the Target Fund will need to hold their shares in accounts capable of accepting ETF shares, or they will be liquidated and receive cash equivalent to the net asset value (NAV) of their holdings, resulting in potential taxable gains. The reorganization is expected to provide benefits including lower annual expenses, greater trading flexibility, increased portfolio transparency, continuity of management, and tax-free treatment for shareholders exchanging shares. The Board of Trustees has unanimously approved the Reorganization, concluding it serves in the best interest of shareholders without any expected dilution of shares.