Investment objective & strategy
As of Dec. 29, 2025 · prospectusObjective. The highest level of current income exempt from federal and Massachusetts state income taxes as is consistent with the preservation of capital.
Strategy. The Massachusetts Municipal Bond Fund will invest, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade municipal securities that pay interest that is exempt from federal and Massachusetts state income taxes, including, but not limited to, municipal bonds, notes and commercial paper. The principal issuers of these securities are state and local governments and their agencies located in Massachusetts, as well as in Puerto Rico and other U.S. territories and possessions. The Fund uses a sub-adviser (the Sub-Adviser) to manage the Fund's portfolio under the general supervision of SEI Investments Management Corporation, the Fund's adviser (SIMC or the Adviser). The Sub-Adviser selects securities based on its view … The Massachusetts Municipal Bond Fund will invest, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade municipal securities that pay interest that is exempt from federal and Massachusetts state income taxes, including, but not limited to, municipal bonds, notes and commercial paper. The principal issuers of these securities are state and local governments and their agencies located in Massachusetts, as well as in Puerto Rico and other U.S. territories and possessions. The Fund uses a sub-adviser (the Sub-Adviser) to manage the Fund's portfolio under the general supervision of SEI Investments Management Corporation, the Fund's adviser (SIMC or the Adviser). The Sub-Adviser selects securities based on its view on the future direction of interest rates and the shape of the yield curve, as well as its views on credit quality and sector allocation issues. Where possible, the Sub-Adviser will attempt to acquire securities that are underpriced relative to other eligible securities. The Sub-Adviser will strive to maintain an average weighted portfolio maturity of three to ten years. The Fund may, to a limited extent, invest in securities subject to the alternative minimum tax or in debt securities subject to federal and Massachusetts state income taxes. The Fund may also invest in municipal securities rated below investment grade (junk bonds).
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY | — | $3.56M | 5.77% |
| MA ST 5% 10/1/2033 | — | $2.92M | 4.73% |
| MASSACHUSETTS ST BAY TRANSPRTN MASSACHUSETTS BAY TRANSPORTATION AUTHORITY SALES T | — | $1.84M | 2.99% |
| BOSTON MA CITY OF BOSTON MA | — | $1.63M | 2.64% |
| MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY | MASDEV | $1.40M | 2.27% |
| MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY | — | $1.29M | 2.09% |
| MASSACHUSETTS ST DEV FIN AGY S REGD V/R B/E 5.00000000 | MASDEV | $1.21M | 1.96% |
| MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY | — | $1.20M | 1.94% |
| MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY | — | $1.20M | 1.94% |
| MA ST BAY AUTH-SER B | — | $1.19M | 1.93% |
Portfolio moves
Nov 30, 2025 → Feb 28, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund · MMBMX, MMBIX | 10% | 0.63% |
| Columbia Massachusetts Intermediate Municipal Bond Fund · LMIAX, SEMAX, CMMYX | 5% | 0.47% |
| Western Asset Massachusetts Municipals Fund · SLMMX, SMALX, LHMIX, LHISX | 2% | 0.52% |
Advisers
| Firm | Role |
|---|---|
| SEI INVESTMENTS MANAGEMENT Corporation | Adviser |
| Insight North America LLC | Sub-adviser |
Footnotes
- Expense ratio as of December 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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