Annual Report - SEI

Long Duration Bond Fund
Statements of Net Assets
AS AT DECEMBER 31
(in thousands of dollars except per unit data)
2009 2008
ASSETS
Investments at fair value $ 300,869 $ 112,947
Cash including foreign currency holdings,
at fair value 7,202 38,353
Receivable for unit subscriptions 251 86
308,322 151,386
LIABILITIES
Accrued liabilities 45 99
Payable for unit redemptions — 1,898
45 1,997
NET ASSETS REPRESENTING
UNITHOLDERS’ EQUITY $ 308,277 $ 149,389
NET ASSETS PER CLASS
(Class O) $ 304,236 $ 147,635
(Class I) $ — $ —
(Class P) $ 3,992 $ 1,474
(Class F) $ 49 $ 280
NET ASSETS PER UNIT (note 7)
(Class O) $ 9.43 $ 10.38
(Class I) $ — $ —
(Class P) $ 10.84 $ 11.95
(Class F) $ 9.19 $ 10.07
INVESTMENTS AT AVERAGE COST $ 319,136 $ 105,854
Statements of Operations
FOR THE YEARS ENDED DECEMBER 31
(in thousands of dollars except per unit data)
2009 2008
INVESTMENT INCOME
Interest $ 16,985 $ 8,235
EXPENSES
Custodian and administration fees 257 162
Legal fees 26 24
Audit fees 10 7
Management fees 34 46
Trustee fees 3 2
Independent Review Committee fees 2 2
Security holder reporting costs 17 18
349 261
NET INVESTMENT INCOME (LOSS)
FOR THE PERIOD $ 16,636 $ 7,974
NET GAIN (LOSS) ON SALES OF SECURITIES $ (1,616) $ (161)
UNREALIZED APPRECIATION (DEPRECIATION)
OF INVESTMENTS $ (25,360) $ 4,114
NET GAIN (LOSS) ON INVESTMENTS $ (26,976) $ 3,953
NET INCREASE (DECREASE) IN NET ASSETS
FROM OPERATIONS $ (10,340) $ 11,927
INCREASE (DECREASE) IN NET ASSETS
FROM OPERATIONS
(Class O) $ (10,198) $ 11,773
(Class I) $ — $ 23
(Class P) $ (132) $ 111
(Class F) $ (10) $ 20
INCREASE (DECREASE) IN NET ASSETS
FROM OPERATIONS PER UNIT*
(Class O) $ (0.33) $ 0.84
(Class I) $ — $ 0.14
(Class P) $ (0.78) $ 0.57
(Class F) $ (0.57) $ 0.61
* Based on the weighted average number of units outstanding during the period.
SLDB
(See accompanying notes)
84