Annual Report - SEI

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U.S. High Yield Bond Fund Statement of Investment Portfolio AS AT DECEMBER 31, 2009 Par Interest Maturity Average Fair Value Rate Date Cost Value $ % $ $ General Maritime Corp., Callable 115,000 12.000 2017/11/15 119,865 125,533 Global Aviation Holdings Ltd., Callable 400,000 14.000 2013/08/15 426,091 416,719 Global Crossing Ltd., Callable 200,000 12.000 2015/09/15 230,201 230,113 Intelsat Jackson Holdings Ltd., Callable 60,000 8.500 2019/11/01 61,198 64,788 Intelsat Jackson Holdings Ltd., Callable 655,000 9.500 2016/06/15 743,981 734,736 Intelsat Jackson Holdings Ltd., Callable 190,000 11.250 2016/06/15 219,298 215,619 Intelsat Ltd., Callable 200,000 6.500 2013/11/01 192,992 196,566 Kansas City Southern de Mexico SA de CV, Callable 160,000 9.375 2012/05/01 174,330 174,026 NCL Corp. Ltd., Callable 100,000 11.750 2016/11/15 104,927 103,525 Nordic Telephone Co. Holdings, Callable 450,000 8.875 2016/05/01 489,286 498,884 Novasep Holding SAS, Callable 205,000 9.750 2016/12/15 211,807 209,539 NXP BV / NXP Funding LLC, Callable 175,000 7.875 2014/10/15 153,011 166,491 PE Paper Escrow GMBH, Callable 210,000 12.000 2014/08/01 245,046 243,270 Rabobank Nederland, Variable Rate, Perpetual, Callable 165,000 11.000 2019/06/30 215,441 210,904 Royal Caribbean Cruises Ltd. 365,000 7.000 2013/06/15 375,186 381,691 Royal Caribbean Cruises Ltd. 250,000 6.875 2013/12/01 246,619 257,501 Sensata Technologies BV, Callable 200,000 8.000 2014/05/01 193,477 205,477 Smurfit Kappa Funding PLC, Callable 270,000 7.750 2015/04/01 251,850 272,086 UPC Holding BV, Callable 100,000 9.875 2018/04/15 110,420 110,601 Vedanta Resources PLC, Callable 150,000 9.500 2018/07/18 156,207 159,611 VIP Finance Ireland Ltd. 105,000 9.125 2018/04/30 119,547 117,507 Wind Acquisition Finance SA, Callable 110,000 12.000 2015/12/01 128,722 123,391 Total Foreign Bonds* 7,936,534 8,003,127 SENIOR LOANS – 0.5% Claire’s Stores Term Loan 200,000 10.700 2014/05/29 166,044 169,147 PQ Corp. 2nd Lien Term Loan 240,000 6.500 2015/07/30 215,837 215,542 Texas Competitive Electric Holdings Co. LLC, Zero Coupon 250,000 0.000 2014/10/10 200,617 212,210 Total Senior Loans 582,498 596,899 Total Bonds 104,383,596 105,612,020 Total Investments – 89.8% 104,383,596 105,612,020 Other Assets and Liabilities, Net – 10.2% 11,939,940 Net Assets – 100.0% 117,551,960 *Denominated in Canadian dollars. (See accompanying notes) SUHY 102
U.S. High Yield Bond Fund Notes to Statement of Investment Portfolio AS AT DECEMBER 31, 2009 Currency Risk The table below indicates the currencies to which the Fund had exposure as at December 31, 2009, on both its trading monetary and non-monetary assets and liabilities. Currency risk exposed holdings Forward foreign exchange contracts Total Exposure As a % of Net Assets (including derivatives)* U.S. Dollar 115,664,298 — 115,664,298 98.39% *Amounts include monetary and non-monetary items. As at December 31, 2009, had the Canadian dollar strengthened or weakened by 5% in relation to all currencies, with all other variables held constant, net assets would have decreased or increased, respectively, by approximately $5,783,215. In practice, the actual trading results may differ from this sensitivity analysis and the difference could be material. Interest Rate Risk The table below summarizes the Fund’s exposure to interest rate risks. It includes the Fund’s assets and trading liabilities at fair values, categorized by the earlier of contractual re-pricing or maturity dates. Bonds 2009 2008 Less than 1 year 669,634 — 1-3 years 8,724,819 — 3-5 years 26,403,445 — > 5 years 69,814,122 — Total 105,612,020 — As at December 31, 2009, had the prevailing interest rates raised or lowered by 1%, with all other variables held constant, net assets would have decreased or increased, respectively, by approximately $4,911,275. In practice, the results may differ from this sensitivity analysis and the difference could be material. Other Price Risk As at December 31, 2009, the Fund did not have exposure to significant other price risk as the Fund invested primarily in debt securities. Credit Risk As at December 31, 2009, the Fund invested in debt securities with the following credit ratings: Debt securities by credit rating 2009 AAA 0.00% AA 0.30% A 0.12% BBB 1.87% Below BBB 87.53% Unrated 0.03% Total 89.85% Credit ratings are obtained from Bloomberg general rates which are a blend of Standard & Poor’s, Moody’s and/or Dominion Bond Rating Services. Fair Value Measurements The following table summarizes the inputs used as of December 31, 2009 in valuing the Fund’s investments and derivatives carried at fair values: Quoted prices in active markets Significant other observable inputs Significant unobservable inputs for identical assets (Level 1) (Level 2) (Level 3) Total Common shares $ — $ — $ — $ — Preferred shares — — — — Short-term notes — — — — Bonds — 105,612,020 — 105,612,020 Investments in funds — — — — Total Investments $ — $ 105,612,020 $ — $ 105,612,020 Derivative assets — — — — Derivative liabilities — — — — During the year ended December 31, 2009, no equity investments were transferred between Level 1 and Level 2. During the year ended December 31, 2009, the Fund did not hold any investments classified within Level 3. SUHY (See accompanying notes) 103
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Annual Report for the period ended
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March 9, 2010 Auditors’ Report Pr
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Canadian Equity Fund Statement of I
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Canadian Equity Fund Summary of Inv
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Canadian Equity Fund Statements of
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Canadian Small Company Equity Fund
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U.S. Large Company Equity Fund Stat
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U.S. Small Company Equity Fund Stat
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U.S. Small Company Equity Fund Summ
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EAFE Equity Fund Statement of Inves
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Page 52 and 53: EAFE Equity Fund Statement of Inves
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Page 56 and 57: EAFE Equity Fund Notes to Statement
Page 58 and 59: EAFE Equity Fund Statements of Net
Page 60 and 61: Emerging Markets Equity Fund Statem
Page 66 and 67: Emerging Markets Equity Fund Summar
Page 70 and 71: Canadian Fixed Income Fund Statemen
Page 78 and 79: Canadian Fixed Income Fund Interest
Page 82 and 83: Long Duration Bond Fund Statement o
Page 84 and 85: Long Duration Bond Fund Statements
Page 86 and 87: Real Return Bond Fund Statement of
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Page 90 and 91: Short Term Bond Fund Statement of I
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Page 96 and 97: U.S. High Yield Bond Fund Statement
Page 106 and 107: Money Market Fund Statement of Inve
Page 108 and 109: Money Market Fund Statements of Net
Page 110 and 111: International Synthetic Fund Statem
Page 112 and 113: International Synthetic Fund Notes
Page 114 and 115: International Synthetic Fund Statem
Page 116 and 117: U.S. Large Cap Synthetic Fund SCHED
Page 118 and 119: U.S. Large Cap Synthetic Fund State
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Page 126 and 127: Enhanced Global Bond Fund Statement
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Balanced 50/50 Fund Statement of In
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Balanced 50/50 Fund Statements of N
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Balanced 60/40 Fund Statement of In
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Balanced 60/40 Fund Statements of N
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Balanced 60/40 Fund Statements of C
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Balanced Monthly Income Fund Notes
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Balanced Monthly Income Fund Statem
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Growth 70/30 Fund Notes to Statemen
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Growth 70/30 Fund Statements of Cha
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Growth 80/20 Fund Notes to Statemen
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Growth 80/20 Fund Statements of Cha
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Growth 100 Fund Statement of Invest
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Growth 100 Fund Statements of Net A
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Growth 100 Fund Statements of Chang
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Global Growth 100 Fund Notes to Sta
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Global Growth 100 Fund Statements o
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Notes to Financial Statements FOR T
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