SEI GLOBAL MASTER FUND PLC Unaudited Condensed Financial ... SEI Global Master Fund plc Unaudited Condensed

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  • SEI GLOBAL MASTER FUND PLC

    Unaudited Condensed Financial Statements for the half year ended 31 December 2018

  • SEI Global Master Fund plc

    Unaudited Condensed Financial Statements for the half year ended 31 December 2018

    CONTENTS PAGE

    Directory 4 General Information 5 Investment Adviser’s Reports

    The SEI U.S. Small Companies Fund 7 The SEI U.S. Large Companies Fund 9 The SEI High Yield Fixed Income Fund 11 The SEI U.S. Fixed Income Fund 12 The SEI Emerging Markets Equity Fund 13 The SEI U.K. Equity Fund 15 The SEI European (Ex-U.K.) Equity Fund 16 The SEI Japan Equity Fund 17 The SEI Pacific Basin (Ex-Japan) Equity Fund 19 The SEI Global Equity Fund 20 The SEI Global Fixed Income Fund 22 The SEI Global Opportunistic Fixed Income Fund 23 The SEI Emerging Markets Debt Fund 24 The SEI Pan European Small Cap Fund 26 The SEI U.K. Core Fixed Interest Fund 27 The SEI U.S. Liquid Assets Fund 28 The SEI Global Managed Volatility Fund 29 The SEI Euro Credit Fund 30 The SEI Euro Government Bond Fund 31 The SEI Fundamental U.K. Equity Fund 32 The SEI Quantitative U.K. Equity Fund 33 The SEI U.K. Long Duration Gilts Fixed Interest Fund 34 The SEI U.K. Gilts Fixed Interest Fund 35 The SEI U.K. Credit Fixed Interest Fund 36 The SEI Dynamic Asset Allocation Fund 37 The SEI Global Short Duration Bond Fund 38 The SEI U.K. Long Duration Index-Linked Fixed Interest Fund 39 The SEI U.K. Index-Linked Fixed Interest Fund 40 The SEI Global Multi-Asset Income Fund 41 The SEI Factor Allocation U.S. Equity Fund 42 The SEI Global Short Term Bond Fund 43 The SEI Liquid Alternative Fund 44 The SEI Global Absolute Return Fixed Income Fund 45 The SEI U.K. Long Duration Credit Fund 46

    Portfolio of Investments

    The SEI U.S. Small Companies Fund 48 The SEI U.S. Large Companies Fund 59 The SEI High Yield Fixed Income Fund 67 The SEI U.S. Fixed Income Fund 90 The SEI Emerging Markets Equity Fund 127 The SEI U.K. Equity Fund 138 The SEI European (Ex-U.K.) Equity Fund 146 The SEI Japan Equity Fund 154 The SEI Pacific Basin (Ex-Japan) Equity Fund 161 The SEI Global Equity Fund 165 The SEI Global Fixed Income Fund 189 The SEI Global Opportunistic Fixed Income Fund 213 The SEI Emerging Markets Debt Fund 263 The SEI Pan European Small Cap Fund 288 The SEI U.K. Core Fixed Interest Fund 294 The SEI Global Managed Volatility Fund 316 The SEI Euro Credit Fund 332

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  • SEI Global Master Fund plc

    Unaudited Condensed Financial Statements for the half year ended 31 December 2018

    CONTENTS (continued) PAGE

    Portfolio of Investments (continued)

    The SEI Euro Government Bond Fund 349 The SEI Fundamental U.K. Equity Fund 352 The SEI Quantitative U.K. Equity Fund 354 The SEI U.K. Long Duration Gilts Fixed Interest Fund 362 The SEI U.K. Gilts Fixed Interest Fund 364 The SEI U.K. Credit Fixed Interest Fund 366 The SEI Dynamic Asset Allocation Fund 388 The SEI Global Short Duration Bond Fund 416 The SEI U.K. Long Duration Index-Linked Fixed Interest Fund 429 The SEI U.K. Index-Linked Fixed Interest Fund 433 The SEI Global Multi-Asset Income Fund 434 The SEI Factor Allocation U.S. Equity Fund 448 The SEI Global Short Term Bond Fund 459 The SEI Liquid Alternative Fund 462 The SEI Global Absolute Return Fixed Income Fund 464 The SEI U.K. Long Duration Credit Fund 468

    Condensed Income Statement 471 Condensed Statement of Financial Position 484 Condensed Statement of Changes in Net Assets Attributable to Redeemable Participating Shareholders 509 Notes to the Condensed Financial Statements 538 Appendix I – Remuneration Disclosures 577 Appendix II – Statement of Changes in Composition of Portfolio 578 Appendix III – Securities Financing Transactions Regulation 626

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  • SEI Global Master Fund plc

    Unaudited Condensed Financial Statements for the half year ended 31 December 2018

    DIRECTORY Board of Directors at 31 December 2018 Michael Jackson (Chairman) (Irish)

    Kevin Barr (American) Robert A. Nesher (American) Desmond Murray* (Irish) Jeffrey Klauder (American)

    *Director, independent of the Investment Adviser

    Manager SEI Investments Global, Limited 2nd Floor Styne House Upper Hatch Street Dublin 2 Ireland Investment Adviser SEI Investments Management Corporation 1 Freedom Valley Drive Oaks Pennsylvania 19456 U.S.A. Depositary Brown Brothers Harriman Trustee Services (Ireland) Limited 30 Herbert Street Dublin 2 Ireland Administrator SEI Investments – Global Fund Services Limited 2nd Floor Styne House Upper Hatch Street Dublin 2 Ireland Distributor SEI Investments (Europe) Limited 1st Floor Alphabeta 14-18 Finsbury Square London EC2A 1BR England Independent Auditors PricewaterhouseCoopers

    One Spencer Dock North Wall Quay Dublin 1 Ireland

    Legal Advisers as to Irish Law Matheson 70 Sir John Rogerson’s Quay Dublin 2 Ireland Company Secretary Matsack Trust Limited 70 Sir John Rogerson’s Quay Dublin 2 Ireland Registered Office 2nd Floor Styne House Upper Hatch Street Dublin 2 Ireland CRO Number 243230

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  • SEI Global Master Fund plc Unaudited Condensed Financial Statements for the half year ended 31 December 2018

    GENERAL INFORMATION Structure The following information is derived from and should be read in conjunction with the full text and definitions section of the Prospectus. SEI Global Master Fund plc (the “Company”) was incorporated on 11 January 1996 and is an umbrella fund established as an open-ended investment company with variable capital under the laws of Ireland as a public limited company pursuant to the Companies Acts 2014. It operates pursuant to the European Communities (Undertaking for Collective Investment in Transferable Securities) Regulations, 2011 (the “UCITS Regulations”). Its share capital is divided into a number of classes, each representing interests in a fund, except for the Subscriber Shares that will not entitle the holders to participate in the assets of any fund. At 31 December 2018, the Company comprised of thirty three separate portfolios of investments (“Funds”), each of which is represented by a separate series of Redeemable Participating Shares. These Funds are: The SEI U.S. Small Companies Fund, The SEI U.S. Large Companies Fund, The SEI High Yield Fixed Income Fund, The SEI U.S. Fixed Income Fund, The SEI Emerging Markets Equity Fund, The SEI U.K. Equity Fund, The SEI European (Ex-U.K.) Equity Fund, The SEI Japan Equity Fund, The SEI Pacific Basin (Ex-Japan) Equity Fund, The SEI Global Equity Fund, The SEI Global Fixed Income Fund, The SEI Global Opportunistic Fixed Income Fund, The SEI Emerging Markets Debt Fund, The SEI Pan European Small Cap Fund, The SEI U.K. Core Fixed Interest Fund, The SEI Global Managed Volatility Fund, The SEI Euro Credit Fund, The SEI Euro Government Bond Fund, The SEI Fundamental U.K. Equity Fund, The SEI Quantitative U.K. Equity Fund, The SEI U.K. Long Duration Gilts Fixed Interest Fund, The SEI U.K. Gilts Fixed Interest Fund, The SEI U.K. Credit Fixed Interest Fund, The SEI Dynamic Asset Allocation Fund, The SEI Global Short Duration Bond Fund, The SEI U.K. Long Duration Index-Linked Fixed Interest Fund, The SEI U.K. Index-Linked Fixed Interest Fund, The SEI Global Multi-Asset Income Fund, The SEI Factor Allocation U.S. Equity Fund, The SEI Global Short Term Bond Fund, The SEI Liquid Alternative Fund, The SEI Global Absolute Return Fixed Income Fund and The SEI U.K. Long Duration Credit Fund. The SEI Global Absolute Return Fixed Income Fund launched on 06 November 2017. The SEI Dynamic Asset Allocation Fund changed its name from The SEI U.K. Dynamic Asset Allocation Fund on 15 March 2018. The Fund changed functional currency from British Pound Sterling (GBP) to US dollar (US$). The SEI Sterling Liquidity Fund closed on 16 March 2018 and as at 30 June 2018 only held cash. The SEI Euro Credit Fund changed its name from The SEI Euro Core Plus Fixed Income Fund on 08 June 2018. The SEI Euro Government Bond Fund changed its name from The SEI Euro Fixed Income Index Fund on 08 June 2018. The SEI U.S. Liquid Assets Fund closed on 29 September 2018 and as at 31 December 2018 only holds cash. The SEI U.K. Long Duration Credit Fund launched on 15 November 2018. As the Company is availing of the provisions of the Companies Act 2014, each Fund has segregated liability from the other Funds and the Company is not liable as a whole to third parties for the liability of each Fund. Current Prospectus applicable as of and for the half year ended 31 December 2018 was issued and noted by Central Bank on 07 June 2018. A post half year ended Prospectus was issued on 02 January 2019. A copy of the Prospectus, Addendum and Key Investor Information Documents (“KIID”) can be obtained by contacting the Administrator at its registered office. Distribution Policy The Articles of Association empower the Company in General Meetings to declare dividends in respect of any Shares provided that no dividend shall exceed the amount recommended by the Directors. The Articles of Association also empower the Directors to declare interim dividends. The Directors have determined to reinvest all net income and net realised capital gains of the Company attributable to the Accumulating Class Shares. Accordingly, no dividends will be paid in respect of such Shares and all net income and net realised capital gains of the Company attributable to such Shares will be