# EDGAR Filing Document

**Accession Number:** 0001872555
**File Stem:** 0001398344-23-001482
**Filing Date:** 2023-1
**Character Count:** 123356
**Document Hash:** 17dc881d91110694432d1f472df961f2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-23-001482.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0001398344-23-001482

**CONFORMED SUBMISSION TYPE**: 40-17G

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20230131

**EFFECTIVENESS DATE**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Catholic Responsible Investments Funds
- **CENTRAL INDEX KEY:** 0001872555
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 40-17G
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23718
- **FILM NUMBER:** 23571133

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** 610-676-1000

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

## Exhibit 99.1

**SEI TAX EXEMPT TRUST**

**SEI DAILY INCOME TRUST**

**SEI INSTITUTIONAL MANAGED TRUST**

**SEI INSTITUTIONAL INTERNATIONAL TRUST**

**SEI ASSET ALLOCATION TRUST**

**SEI INSTITUTIONAL INVESTMENTS TRUST**

**ADVISER MANAGED TRUST**

**NEW COVENANT FUNDS**

**SEI CATHOLIC VALUES TRUST**

**SEI EXCHANGE TRADED FUNDS**

<u>Approval of Joint Fidelity Bond</u>

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| | |
|:---|:---|
| **VOTED:** | That the Trustees, including a majority of the Trustees who are not "interested persons" (the "Independent Trustees"), as such term is defined under the Investment Company Act of 1940, as amended (the "Investment Company Act"), of SEI Tax Exempt Trust, SEI Daily Income Trust, SEI Institutional Managed Trust, SEI Institutional International Trust, SEI Asset Allocation Trust, SEI Institutional Investments Trust, Adviser Managed Trust, New Covenant Funds, SEI Catholic Values Trust and SEI Exchange Traded Funds (each, a "Trust" and together, the "Trusts") find that the participation in the Joint Fidelity Bond presented at the meeting of the Trustees is in the best interest of the Trusts, and that the proper officers be, and they hereby are, authorized to execute, with the advice of legal counsel to the Trusts, such Joint Fidelity Bond on behalf of the Trusts in the amount of $40 million; |

---

---

| | |
|:---|:---|
| **VOTED:** | That the Trustees, including a majority of the Independent Trustees, find that the premium is fair and reasonable provided that the allocation of the premium be in accordance with a formula under which each Trust pays no more than its pro-rata share of the premium based on relative asset size and, in any event, the Trusts would pay no more than the premium of an individual policy and no more than the share of the joint premiums based on the relative premiums that would apply to individual policies obtained by the Trusts participating in the Joint Fidelity Bond; |

---

---

| | |
|:---|:---|
| **VOTED:** | That the proper officers of the Trusts be, and they hereby are, authorized to execute and deliver an agreement, substantially similar to that set forth at the meeting of the Trustees, on behalf of the Trusts, regarding the allocation of premiums for and share of recovery from the Joint Fidelity Bond, as required by Rule 17g-1(f) under the Investment Company Act; and |

---

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| | |
|:---|:---|
| **VOTED:** | That the officers of the Trusts are hereby directed to: (1) File with the Securities and Exchange Commission (the "SEC") within 10 days after execution of the Joint Fidelity Bond or amendment thereof: (i) a copy of the bond, (ii) a copy of each resolution of the Board of Trustees, including a majority of the Independent Trustees, approving the amount, type, form and coverage of the bond and the portion of the premium to be paid by the Trusts, (iii) a statement showing the amount of the single insured bonds the Trusts would have provided or maintained had they not been named as insureds under the bond, (iv) a statement as to the period for which the premiums for the bond have been paid, (v) a copy of each agreement between the Trusts and all other named insureds entered into pursuant to Rule 17g-1(f) under the Investment Company Act, and (vi) a copy of any amendment to such agreements within 10 days after the execution of such amendment; |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) File with the SEC, in writing, within five days after the making of a claim under the bond by a Trust, a statement of the nature and amount thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) File with the SEC, within five days after the receipt thereof, a copy of the terms of the settlement of any claim made under the bond by a Trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Notify by registered mail each member of the Board of Trustees at his or her last known residence of: (i) any cancellation, termination or modification of the bond, not less than 45 days prior to the effective date of the cancellation, termination or modification, (ii) the filing and the settlement of any claim made under the bond by a Trust at any time the filings required under (2) and (3) above are made with the SEC, and (iii) the filing and proposed terms of settlement of any claim made under the bond by any other named insured, within five days of the receipt of a notice from the fidelity insurance company.

**SEI TAX EXEMPT TRUST**

**SEI DAILY INCOME TRUST**

**SEI INSTITUTIONAL MANAGED TRUST**

**SEI INSTITUTIONAL INTERNATIONAL TRUST**

**SEI ASSET ALLOCATION TRUST**

**SEI INSTITUTIONAL INVESTMENTS TRUST**

**ADVISER MANAGED TRUST**

**NEW COVENANT FUNDS**

**SEI CATHOLIC VALUES TRUST**

**SEI EXCHANGE TRADED FUNDS**

<u>Directors & Officers Professional Liability (D&O/E&O) Policy</u>

---

| | |
|:---|:---|
| **VOTED:** | That each of SEI Tax Exempt Trust, SEI Daily Income Trust, SEI Institutional Managed Trust, SEI Institutional International Trust, SEI Asset Allocation Trust, SEI Institutional Investments Trust, Adviser Managed Trust, New Covenant Funds, SEI Catholic Values Trust and SEI Exchange Traded Funds (each, a "Trust" and together, the "Trusts") and its Trustees and officers from time to time be named as insured under a Directors & Officers Professional Liability Policy ("D&O/E&O Policy") issued through a reputable insurance company with a minimum limit of $40 million covering such Trust and its Trustees and officers generally against liabilities and expenses, with exceptions, arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities; |

---

---

| | |
|:---|:---|
| **VOTED:** | That the Trustees of each Trust, including a majority of the Trustees who are not "interested persons" (the "Independent Trustees"), as such term is defined under the Investment Company Act of 1940, as amended, of the Trusts find that participation in a D&O/E&O Policy is in the best interests of each Trust and that the President, any Vice President, the Treasurer and the Secretary of each Trust be, and they hereby are, and each of them singly is, authorized to execute, with the advice of legal counsel to such Trust, a joint D&O/E&O Policy on behalf of such Trust; |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees of each Trust, including a majority of the Independent Trustees, hereby approve the purchase of $15 million in Side A/B excess coverage to further protect the Trustees and officers against liabilities and expenses, with exceptions, arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities; and the Trusts with respect to their obligations to indemnify such Trustees and officers, with exception, arising out of claims, actions or proceedings asserted or threatened against them in connection with their acts in conjunction with the Trusts in their respective capacities. |

---

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| | |
|:---|:---|
| **VOTED:** | That the Trustees of each Trust, including a majority of the Independent Trustees, find that each premium of the aforementioned policies is fair and reasonable; and |

---

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| | |
|:---|:---|
| **VOTED:** | That the President, any Vice President, the Treasurer and Secretary of each Trust be, and they hereby are, and each of them singly is, authorized to obtain such a D&O/E&O Policy in substantially the form discussed at this meeting. |

---

**CAUSEWAY CAPITAL MANAGEMENT TRUST**

***Joint Fidelity Bond***

**VOTED:** that the Trustees find that the Trust's participation in the Joint Fidelity Bond, issued through Continental Casualty Company as lead carrier and the additional carriers more fully described in the Board materials, is in the best interests of the Trust, and the proper officers of the Trust are authorized to purchase, with the advice of legal counsel to the Trust, a Joint Fidelity Bond on behalf of the Trust in the amount of $40 million;

**VOTED:** that the Trustees find that the premium of $6,591 for the Trust for the Fidelity Bond is fair and reasonable provided that the allocation of the premium be in accordance with a formula under which the Trust pays no more than its pro-rata share of the premium based on relative asset size and, in any event, the Trust pays no more than the premium of an individual policy and no more than the share of the joint premiums based on the relative premiums which would apply to individual policies obtained by the Funds participating in the Joint Fidelity Bond;

**VOTED:** that the proper officers of the Trust are authorized to execute and deliver an Agreement in the form included in the Board materials on behalf of the Trust regarding the allocation of premiums for and share of recovery from the Joint Fidelity Bond as required by Rule 17g-l(f) under the Investment Company Act of 1940, as amended;

**VOTED:** that the officers of the Trust are directed to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) File with the Securities and Exchange Commission (the "SEC") within 10 days after execution of the fidelity bond or amendment thereof (i) a copy of the bond, (ii) a copy of each resolution of the Board of Trustees including a majority of the Trustees who are not "interested persons" of the Trust, approving the amount, type, form and coverage of such bond and the portion of the premium to be paid by the Trust, (iii) a statement showing the amount the Trust would have provided or maintained had it not been named as an insured under a joint insured bond, (iv) a statement as to the period for which the premiums for such bond have been paid, (v) a copy of each agreement between the Trust and all other named insureds entered into pursuant to Rule 17g-l(f) under the Investment Company Act of 1940, as amended, and (vi) a copy of any amendment to such agreement within 10 days after the execution of such amendment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) File with the SEC, in writing, within five days after the making of a claim under the bond by the Trust, a statement of the nature and amount thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) File with the SEC, within five days after the receipt thereof, a copy of the terms of the settlement of any claim under the bond of the Trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Notify by registered mail each member of the Board of Trustees at his or her last known residence of (i) any cancellation, termination or modification of the bond, not less than 45 days prior to the effective date of the cancellation, termination or modification, (ii) the filing and the settlement of any claims under the bond by the Trust at any time the filings required under (2) and (3) above are made with the SEC, and (iii) the filing and proposed terms of settlement of any claim under the bond by any other named insured, within five days of the receipt of a notice from the fidelity insurance company; and

**VOTED:** that, Matt Maher is designated to make or cause to be made the filings and give the notices required by SEC Rule 17g-1(g).

***Professional Liability (E&O/D&O) Policy and Side A Excess***

**VOTED:** that the Trust and its Trustees and officers from time to time be named as insured under a Directors & Officers Professional Liability (E&O/D&O) Policy issued through Illinois Union Insurance Company, Everest National Insurance Company, Argonaut Insurance Company and Continental Casualty Company, as more fully described in the Board materials, with a limit of $15 million and deductible of $250,000 (for indemnifiable D&O and E&O claims) covering the Trust and its Trustees and officers generally against liabilities and expenses, with exceptions, arising out of claims, actions, or proceedings asserted or threatened against them in their respective capacities;

**VOTED:** that the Trustees find that participation in a E&O/D&O Policy is in the best interests of the Trust and that the president, any vice president, the treasurer and the secretary of the Trust are, and each of them singly is, authorized to execute, with the advice of legal counsel to the Trust, a joint E&O/D&O Policy on behalf of the Trust;

**VOTED:** that the Trustees find that the $199,132 premium, to be allocated across the series of the Trust on the basis of their net assets, plus a possible surplus lines tax and fee which may be imposed on a portion of the coverage and to be allocated in the same manner, for such policy is fair and reasonable;

**VOTED:** that the Trustees approve the purchase of $5 million in Side A Difference-in-Conditions/ Side B excess coverage through CNA for a premium of $55,000 as described in the Board materials, which is to be allocated across the series of the Trust on the basis of their net assets, to further protect the Trustees and officers against liabilities and expenses, with exceptions, arising out of claims, actions, or proceedings asserted or threatened against them in their capacities; and

**VOTED:** that the president, any vice president, the treasurer and the secretary of the Trust are, and each of them singly is, authorized to obtain such Policies in substantially the form discussed at this meeting.

**THE ADVISORS' INNER CIRCLE FUND**

**THE ADVISORS' INNER CIRCLE FUND II**

**BISHOP STREET FUNDS**

**CATHOLIC RESPONSIBLE INVESTMENTS FUNDS**

***Approval of Joint Fidelity Bond***

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| | |
|:---|:---|
| **VOTED:** | That the Board of Trustees (the "Trustees" or, the "Board") of The Advisors' Inner Circle Fund, The Advisors' Inner Circle Fund II, Bishop Street Funds and Catholic Responsible Investments Funds (each a "Trust" and collectively, the "Trusts") finds that the participation in the Joint Fidelity Bond is in the best interests of the Trusts, and that the officers be, and they hereby are, authorized to execute, with the advice of legal counsel to the Trusts, a Joint Fidelity Bond on behalf of the Trusts in the amount of $40 million per occurrence. |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees find that the premium payable by each Trust under the Joint Fidelity Bond is fair and reasonable provided that the allocation of the premium be in accordance with a formula under which each Trust pays no more than its pro-rata share of the premium based on relative asset size; |

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| | |
|:---|:---|
| **VOTED:** | That the Agreement Among Jointly Insured Parties among the Trusts and the other joint insureds under the Joint Fidelity Bond (the "Joint Fidelity Bond Agreement") providing for the allocation of premiums for and share of recovery from the Joint Fidelity Bond as required by Rule 17g-l(f) under the Investment Company Act of 1940 (the "1940 Act"), be, and it hereby is approved, in substantially the form presented to this Meeting and that the officers of the Trusts be, and they hereby are, authorized and directed to execute and deliver the Joint Fidelity Bond Agreement; |

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| | |
|:---|:---|
| **VOTED:** | That the Secretary of the Trusts is hereby directed to: (1) File with the U.S. Securities and Exchange Commission (the "SEC") within 10 days after execution of the Joint Fidelity Bond or amendment thereof (i) a copy of the Joint Fidelity Bond, (ii) a copy of each resolution of the Board, including a majority of the Trustees who are not "interested persons" of the Trust, approving the amount, type, form and coverage of such Joint Fidelity Bond and the portion of the premium to be paid by the Trusts, (iii) a statement showing the amount each Trust would have provided or maintained had it not been named as an insured under the Joint Fidelity Bond, (iv) a statement as to the period for which the premiums for such Joint Fidelity Bond have been paid, and (v) a copy of the Joint Fidelity Bond Agreement, and (vi) a copy of any amendment to the Joint Fidelity Bond Agreement within 10 days after the execution of such amendment; |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) File with the SEC, in writing, within five days after the making of a claim under the Joint Fidelity Bond
by the Trusts, a statement of the nature and amount thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) File with the SEC, within five days after the receipt thereof, a copy of the terms of the settlement
of any claim under the Joint Fidelity Bond of the Trusts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Notify by registered mail each Trustee at his or her last known residence of (i) any cancellation, termination
or modification of the Joint Fidelity Bond, not less than 45 days prior to the effective date of the cancellation, termination or modification,
(ii) the filing and the settlement of any claims under the Joint Fidelity Bond by the Trusts at any time the filings required under (2)
and (3) above are made with the SEC, and (iii) the filing and proposed terms of settlement of any claim under the Joint Fidelity Bond
by any other named insured, within five days of the receipt of a notice from the fidelity insurance company.

***Approval of Directors & Officers Errors & Omissions Professional Liability (D&O/E&O) Policy***

---

| | |
|:---|:---|
| **VOTED:** | That each Trust and its Trustees and officers from time to time be named as insureds under a joint Directors & Officers Professional Liability (D&O/E&O) Policy issued through a reputable insurance company with a maximum liability limit of $[40] million covering such Trust and its trustees and officers generally against liabilities and expenses, with exceptions, arising out of claims, actions, or proceedings asserted or threatened against them in their respective capacities; |

---

---

| | |
|:---|:---|
| **VOTED:** | That the Trustees of each Trust find that participation in a joint D&O/E&O Policy is in the best interests of each Trust and that the officers of each Trust be, and they hereby are, and each of them singly is, authorized to execute, with the advice of legal counsel to such Trust, a joint D&O/E&O Policy on behalf of such Trust; |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees find that the premium payable by each Trust under the joint D&O/E&O Policy is fair and reasonable provided that the allocation of the premium be in accordance with the allocation methodology discussed at this Meeting and, in any event, the Trusts each would pay no more than the premiums of an individual policy and no more than the share of the joint premiums based on the relative premiums which would apply to individual policies taken by the Trusts; and |

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| | |
|:---|:---|
| **VOTED:** | That the officers of each Trust be, and they hereby are, authorized to obtain or renew such a Policy in substantially the form discussed at this Meeting. |

---

***Approval of Mutual Fund Directors & Officers (D&O) Side A/B Policy***

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| | |
|:---|:---|
| **VOTED:** | That the Trusts and their Trustees and officers from time to time be named as insured under a joint Mutual Fund Directors & Officers (D&O) Side A/B Policy ("Side A/B Policy") issued through a reputable insurance company with a limit of $[5] million to further protect the Trustees and officers against liabilities and expenses, with exceptions, arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities, and the Trusts with respect to their obligations to indemnify such Trustees and officers, with exceptions, arising out of claims, actions or proceedings asserted or threatened against them in connection with their acts in conjunction with the Trusts in their respective capacities; |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees find that participation in a joint Side A/B Policy is in the best interests of the Trusts and that the officers be, and they hereby are, authorized to execute, with the advice of legal counsel to the Trusts, a joint Side A/B Policy on behalf of the Trusts; |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees find that the premium payable under the joint Side A/B Policy by each Trust is fair and reasonable provided that the allocation of the premium be in accordance with the allocation methodology discussed at this Meeting and, in any event, the Trusts each would pay no more than the premiums of an individual policy and no more than the share of the joint premiums based on the relative premiums which would apply to individual policies taken by the Trusts; and |

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| | |
|:---|:---|
| **VOTED:** | That the officers of the Trusts be, and they hereby are, authorized to obtain or renew such a joint Side A/B Policy in substantially the form discussed at this Meeting. |

---

**THE ADVISORS' INNER CIRCLE FUND III**

**GALLERY TRUST**

**DELAWARE WILSHIRE PRIVATE MARKETS MASTER FUND**

**DELAWARE WILSHIRE PRIVATE MARKETS FUND**

**DELAWARE WILSHIRE PRIVATE MARKETS TENDER FUND**

***Approval of Joint Fidelity Bond***

 ****

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| | |
|:---|:---|
| **VOTED:** | That the Board of Trustees (the "Trustees" or, the "Board") of The Advisors' Inner Circle Fund III, Gallery Trust, Delaware Wilshire Private Markets Master Fund, Delaware Wilshire Private Markets Fund and Delaware Wilshire Private Markets Tender Fund (each a "Trust" and collectively, the "Trusts"), finds that the participation in the Joint Fidelity Bond is in the best interests of the Trusts and that the officers be, and they hereby are, authorized to execute, with the advice of legal counsel to the Trusts, a Joint Fidelity Bond on behalf of the Trusts in the amount of $40 million per occurrence. |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees find that the premium payable by each Trust under the Joint Fidelity Bond is fair and reasonable provided that the allocation of the premium be in accordance with a formula under which each Trust pays no more than its pro-rata share of the premium based on relative asset size; |

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| | |
|:---|:---|
| **VOTED:** | That the Agreement Among Jointly Insured Parties among the Trusts and the other joint insureds under the Joint Fidelity Bond (the "Joint Fidelity Bond Agreement") providing for the allocation of premiums for and share of recovery from the Joint Fidelity Bond as required by Rule 17g-l(f) under the Investment Company Act of 1940 (the "1940 Act"), be, and it hereby is approved, in substantially the form presented to this Meeting and that the officers of the Trusts be, and they hereby are, authorized and directed to execute and deliver the Joint Fidelity Bond Agreement; |

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| | |
|:---|:---|
| **VOTED:** | That the Secretary of the Trusts is hereby directed to: (1) File with the U.S. Securities and Exchange Commission (the "SEC") within 10 days after execution of the Joint Fidelity Bond or amendment thereof (i) a copy of the Joint Fidelity Bond, (ii) a copy of each resolution of the Board, including a majority of the Trustees who are not "interested persons" of the Trust, approving the amount, type, form and coverage of such Joint Fidelity Bond and the portion of the premium to be paid by the Trusts, (iii) a statement showing the amount each Trust would have provided or maintained had it not been named as an insured under the Joint Fidelity Bond, (iv) a statement as to the period for which the premiums for such Joint Fidelity Bond have been paid, and (v) a copy of the Joint Fidelity Bond Agreement, and (vi) a copy of any amendment to the Joint Fidelity Bond Agreement within 10 days after the execution of such amendment; |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) File with the SEC, in writing, within five days after the making of a claim under the Joint Fidelity Bond
by the Trusts, a statement of the nature and amount thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) File with the SEC, within five days after the receipt thereof, a copy of the terms of the settlement of
any claim under the Joint Fidelity Bond of the Trusts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Notify by registered mail each Trustee at his or her last known residence of (i) any cancellation, termination
or modification of the Joint Fidelity Bond, not less than 45 days prior to the effective date of the cancellation, termination or modification,
(ii) the filing and the settlement of any claims under the Joint Fidelity Bond by the Trusts at any time the filings required under (2)
and (3) above are made with the SEC, and (iii) the filing and proposed terms of settlement of any claim under the Joint Fidelity Bond
by any other named insured, within five days of the receipt of a notice from the fidelity insurance company.

***Approval of Joint Directors & Officers Errors & Omissions Professional Liability (D&O/E&O) Policies***

 ****

---

| | |
|:---|:---|
| **VOTED:** | That each Trust and its Trustees and officers from time to time be named as insureds under a joint Directors & Officers Professional Liability (D&O/E&O) Policy issued through a reputable insurance company with a maximum liability limit of $40 million covering such Trust and its Trustees and officers (and other registered investment companies and trustees and officers of such companies managed, administered and/or distributed by SEI and its affiliates) generally against liabilities and expenses, with exceptions, arising out of claims, actions, or proceedings asserted or threatened against them in their respective capacities; |

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| | |
|:---|:---|
| **VOTED:** | That each Trust and its Trustees and officers from time to time be named as insureds under a joint Directors & Officers Professional Liability (D&O/E&O) Policy issued through a reputable insurance company with a maximum liability limit of $5 million covering such Trust and its Trustees and officers generally against liabilities and expenses, with exceptions, arising out of claims, actions, or proceedings asserted or threatened against them in their respective capacities; |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees of each Trust find that participation in each joint D&O/E&O Policy is in the best interests of each Trust and that the officers of each Trust be, and they hereby are, and each of them singly is, authorized to execute, with the advice of legal counsel to such Trust, each joint D&O/E&O Policy on behalf of such Trust; |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees find that the premium payable by each Trust under each joint D&O/E&O Policy is fair and reasonable provided that the allocation of the premium be in accordance with the allocation methodology discussed at this Meeting and, in any event, the Trusts each would pay no more than the premiums of an individual policy and no more than the share of the joint premiums based on the relative premiums which would apply to individual policies taken by the Trusts; and |

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| | |
|:---|:---|
| **VOTED:** | That the officers of each Trust be, and they hereby are, authorized to obtain or renew each such joint D&O/E&O Policy in substantially the form discussed at this Meeting. |

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 **

***Approval of Mutual Fund Independent Trustee Side A/B (D&O) Policy***

 **

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| | |
|:---|:---|
| **VOTED:** | That the Independent Trustees of the Trusts from time to time be named as insured under a joint Mutual Fund Independent Trustee Side A/B (D&O) Policy ("Side A/B Policy") issued through a reputable insurance company with a limit of $5 million to further protect the Independent Trustees against liabilities and expenses, with exceptions, arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities; |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees find that participation in a joint Side A/B Policy is in the best interests of the Trusts and that the officers be, and they hereby are, authorized to execute, with the advice of legal counsel to the Trusts, a joint Side A/B Policy on behalf of the Trusts; |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees find that the premium payable under the joint Side A/B Policy by each Trust is fair and reasonable provided that the allocation of the premium be in accordance with the allocation methodology discussed at this Meeting and, in any event, the Trusts each would pay no more than the premiums of an individual policy and no more than the share of the joint premiums based on the relative premiums which would apply to individual policies taken by the Trusts; and |

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| | |
|:---|:---|
| **VOTED:** | That the officers of the Trusts be, and they hereby are, authorized to obtain or renew such a joint Side A/B Policy in substantially the form discussed at this Meeting. |

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***Approval of Joint Fidelity Bond***

 ****

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| | |
|:---|:---|
| **VOTED:** | That the Board of Trustees (the "Trustees" or, the "Board") of Frost Family of Funds (the "Trust"), including a majority of Trustees who are not "interested persons" (as such term is defined in the Investment Company Act of 1940, as amended (the "1940 Act")) of the Trust (the "Independent Trustees"), finds that the participation in the Joint Fidelity Bond is in the best interests of the Trust, and that the Trust's officers be, and they hereby are, authorized to execute, with the advice of legal counsel to the Trust, a Joint Fidelity Bond on behalf of the Trust in the amount of $40 million per occurrence. |

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| | |
|:---|:---|
| **VOTED:** | That the Trustees, including a majority of Independent Trustees, find that the premium payable by the Trust under the Joint Fidelity Bond is fair and reasonable provided that the allocation of the premium be in accordance with a formula under which the Trust pays no more than its pro-rata share of the premium based on relative asset size; |

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| | |
|:---|:---|
| **VOTED:** | That the Agreement Among Jointly Insured Parties among the Trust and the other joint insureds under the Joint Fidelity Bond (the "Joint Fidelity Bond Agreement") providing for the allocation of premiums for and share of recovery from the Joint Fidelity Bond as required by Rule 17g-l(f) under the 1940 Act, be, and it hereby is approved, in substantially the form presented to this Meeting and that the officers of the Trust be, and they hereby are, authorized and directed to execute and deliver the Joint Fidelity Bond Agreement; |

---

---

| | |
|:---|:---|
| **VOTED:** | That the Secretary of the Trust is hereby directed to: (1) File with the U.S. Securities and Exchange Commission (the "SEC") within 10 days after execution of the Joint Fidelity Bond or amendment thereof (i) a copy of the Joint Fidelity Bond, (ii) a copy of each resolution of the Board, including a majority of the Independent Trustees, approving the amount, type, form and coverage of such Joint Fidelity Bond and the portion of the premium to be paid by the Trust, (iii) a statement showing the amount the Trust would have provided or maintained had it not been named as an insured under the Joint Fidelity Bond, (iv) a statement as to the period for which the premiums for such Joint Fidelity Bond have been paid, and (v) a copy of the Joint Fidelity Bond Agreement, and (vi) a copy of any amendment to the Joint Fidelity Bond Agreement within 10 days after the execution of such amendment; |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) File with the SEC, in writing, within five days after the making of a claim under the Joint Fidelity Bond
by the Trust, a statement of the nature and amount thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) File with the SEC, within five days after the receipt thereof, a copy of the terms of the settlement
of any claim under the Joint Fidelity Bond of the Trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Notify by registered mail each Trustee at his or her last known residence of (i) any cancellation, termination
or modification of the Joint Fidelity Bond, not less than 45 days prior to the effective date of the cancellation, termination or modification,
(ii) the filing and the settlement of any claims under the Joint Fidelity Bond by the Trust at any time the filings required under (2)
and (3) above are made with the SEC, and (iii) the filing and proposed terms of settlement of any claim under the Joint Fidelity Bond
by any other named insured, within five days of the receipt of a notice from the fidelity insurance company.

***Approval of Joint Directors & Officers Errors & Omissions Professional Liability (D&O/E&O) Policies***

---

| | |
|:---|:---|
| **VOTED:** | That the Trust and its Trustees and officers from time to time be named as insureds under a joint Directors & Officers Professional Liability (D&O/E&O) Policy issued through a reputable insurance company with a maximum liability limit of $40 million covering the Trust and its Trustees and officers (and other registered investment companies and trustees and officers of such companies managed, administered and/or distributed by SEI and its affiliates) generally against liabilities and expenses, with exceptions, arising out of claims, actions, or proceedings asserted or threatened against them in their respective capacities; |

---

---

| | |
|:---|:---|
| **VOTED:** | That the Trust and its Trustees and officers from time to time be named as insureds under a joint Directors & Officers Professional Liability (D&O/E&O) Policy issued through a reputable insurance company with a maximum liability limit of $5 million covering the Trust and its Trustees and officers generally against liabilities and expenses, with exceptions, arising out of claims, actions, or proceedings asserted or threatened against them in their respective capacities; |

---

---

| | |
|:---|:---|
| **VOTED:** | That the Trustees of the Trust find that participation in each joint D&O/E&O Policy is in the best interests of the Trust and that the officers of the Trust be, and they hereby are, and each of them singly is, authorized to execute, with the advice of legal counsel to the Trust, each joint D&O/E&O Policy on behalf of the Trust; |

---

---

| | |
|:---|:---|
| **VOTED:** | That the Trustees find that the premium payable by the Trust under each joint D&O/E&O Policy is fair and reasonable provided that the allocation of the premium be in accordance with the allocation methodology discussed at this Meeting and, in any event, the Trust would pay no more than the premiums of an individual policy and no more than the share of the joint premiums based on the relative premiums which would apply to individual policies taken by the Trust; and |

---

---

| | |
|:---|:---|
| **VOTED:** | That the officers of the Trust be, and they hereby are, authorized to obtain or renew each such joint D&O/E&O Policy in substantially the form discussed at this Meeting. |

---

***Approval of Mutual Fund Independent Trustee Side A/B (D&O) Policy***

---

| | |
|:---|:---|
| **VOTED:** | That the Independent Trustees of the Trust from time to time be named as insured under a joint Mutual Fund Independent Trustee Side A/B (D&O) Policy ("Side A/B Policy") issued through a reputable insurance company with a limit of $5 million to further protect the Independent Trustees against liabilities and expenses, with exceptions, arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities; |

---

---

| | |
|:---|:---|
| **VOTED:** | That the Trustees find that participation in a joint Side A/B Policy is in the best interests of the Trust and that the officers be, and they hereby are, authorized to execute, with the advice of legal counsel to the Trust, a joint Side A/B Policy on behalf of the Trust; |

---

---

| | |
|:---|:---|
| **VOTED:** | That the Trustees find that the premium payable under the joint Side A/B Policy by the Trust is fair and reasonable provided that the allocation of the premium be in accordance with the allocation methodology discussed at this Meeting and, in any event, the Trust would pay no more than the premiums of an individual policy and no more than the share of the joint premiums based on the relative premiums which would apply to individual policies taken by the Trust; and |

---

---

| | |
|:---|:---|
| **VOTED:** | That the officers of the Trust be, and they hereby are, authorized to obtain or renew such a joint Side A/B Policy in substantially the form discussed at this Meeting. |

---

## Exhibit 99.2

**Amount of the single insured bond which each investment company would have provided and maintained had each such company had not been named as an insured under the present joint insured bond**:

---

| | | |
|:---|:---|:---|
| **<u>Company</u>** | **<u>Assets</u>** | **<u>Minimum Amount of Bond</u>** |
| The Advisors' Inner Circle Fund | $40735578023 | 2500000 |
| The Advisors' Inner Circle Fund II | $13630210109 | 2500000 |
| The Advisors' Inner Circle Fund III | $17991975514 | 2500000 |
| Bishop Street Funds | $127675702 | 525000 |
| Catholic Responsible Investments Funds | $8731069363<br>| 2500, 000 |
| Causeway Capital Management Trust | $8700415353 | 2500000 |
| SEI Tax Exempt Trust | $5612549061 | 2500000 |
| SEI Daily Income Trust | $13957577922 | 2500000 |
| SEI Institutional International Trust | $8722506254 | 2500000 |
| SEI Institutional Managed Trust | $32870779517 | 2500000 |
| SEI Asset Allocation Trust | $922261336 | 1000000 |
| SEI Institutional Investments Trust | $59728772970 | 2500000 |
| SEI Exchange Traded Funds | $49256072 | 350000 |
| Adviser Managed Trust | $5960253333 | 2500000 |
| New Covenant Funds | $1497139145 | 1250000 |
| SEI Structured Credit Fund, L.P. | $2097030955 | 1700000 |
| SEI Catholic Values Trust | $546801925 | 900000 |
| Gallery Trust | $899226447 | 1000000 |
| Delaware Wilshire Private Market Funds | $57496760<br>| 400000 |
| Frost Family of Funds | $3983007728 | 2300000 |

---

## Exhibit 99.3

**Fidelity Bond Coverage**

<u>Underwriter:</u> <u>Continental Casualty Company</u>

Period for which premiums have been paid: From 12:01 a.m. on 8/19/2022 to 12:01 a.m. on 8/19/2023.

Policy Number: 169906855

---

| | | |
|:---|:---|:---|
| Company | Coverage | Premium\* |
| The Advisors' Inner Circle Fund | $40000000 | $30861 |
| The Advisors' Inner Circle Fund II | $40000000 | $10574 |
| The Advisors' Inner Circle Fund III | $40000000 | $30861 |
| Bishop Street Funds | $40000000 | $97 |
| Catholic Responsible Investments Fund | $40000000 | $6614 |
| Causeway Capital Management Trust | $40000000 | $6591 |
| SEI Tax Exempt Trust | $40000000 | $4252 |
| SEI Daily Income Trust | $40000000 | $10574 |
| SEI Institutional International Trust | $40000000 | $6608 |
| SEI Institutional Managed Trust | $40000000 | $24903 |
| SEI Asset Allocation Trust | $40000000 | $699 |
| SEI Institutional Investments Trust | $40000000 | $45250 |
| SEI Exchange Traded Funds | $40000000 | $37 |
| Adviser Managed Trust | $40000000 | $4515 |
| New Covenant Funds | $40000000 | $1134 |
| SEI Structured Credit Fund, L.P. | $40000000 | $1589 |
| SEI Catholic Values Trust | $40000000 | $414 |
| Gallery Trust | $40000000 | $681 |
| Delaware Wilshire Private Markets Funds | $40000000 | $44 |
| Frost Family of Funds | $40000000 | $3017 |

---

\* SEI service entities bear 20% of the total cost of $214,750 or $42,950 leaving $171,800 to be distributed among insured funds.

## Exhibit 99.4

**AGREEMENT AMONG JOINTLY INSURED PARTIES**

**<u>Joint Fidelity Bond</u>**

This Agreement Among Jointly Insured Parties (the "Agreement") is made as of August 19, 2022 by and among SEI Asset Allocation Trust, SEI Daily Income Trust, SEI Institutional International Trust, SEI Institutional Investments Trust, SEI Institutional Managed Trust, SEI Tax Exempt Trust, Adviser Managed Trust, New Covenant Funds, SEI Structured Credit Fund, L.P., SEI Catholic Values Trust, SEI Exchange Traded Funds, The Advisors' Inner Circle Fund, The Advisors' Inner Circle Fund II, The Advisors' Inner Circle Fund III, Bishop Street Funds, Gallery Trust, Causeway Capital Management Trust, Catholic Responsible Investments Funds, Frost Family of Funds, Delaware Wilshire Private Markets Master Fund, Delaware Wilshire Private Markets Fund and Delaware Wilshire Private Markets Tender Fund (each a "Fund", and collectively, the "Funds"), SEI Investments Management Corp., SEI Investments Distribution Co., SEI Global Services, Inc., SEI Investments Global Funds Services and SEI Institutional Transfer Agent, Inc. (each as an "SEI Service Entity" and collectively, the "SEI Service Entities") (the Funds and the SEI Service Entities are collectively referred to as the "Insureds").

WHEREAS, the Insureds desire to be named as joint insureds under a Joint Insured Fidelity Bond with a term from August 19, 2022 to August 19, 2023 (the "Bond"); and

WHEREAS, the Insureds desire to establish (i) criteria by which recoveries under the Bond shall be allocated among the Insureds in compliance with Rule 17g-1 under the Investment Company Act of 1940, as amended (the "Act"), and (ii) the basis on which additional investment companies may be added as named Insureds under the Bond and as parties to this Agreement;

NOW, THEREFORE, it is hereby agreed as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. In the event recovery is received under the Bond as the result of a loss sustained by a Fund and one or more other Insureds, such Fund shall receive an equitable and proportionate share of the recovery, but at least equal to the amount it would have received had it provided and maintained a single insured bond with the minimum coverage required under Rule 17g-1(d)(1) under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. In the event that an insurer asserts that the liability to an SEI Service Entity in the event of a loss under the Bond has the effect of reducing the maximum limit of its liability under the Bond, each SEI Service Entity agrees to reduce its claim against such insurer under the Bond to the extent required so that any Fund claimant shall receive an amount at least equal to the full amount of its claim or the amount it would have received had it provided and maintained a single insured bond with the minimum coverage required under Rule 17g-1(d)(1) under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Insureds may amend this Agreement to add another investment company as a party to the Agreement provided that (a) such investment company satisfies the requirements of Rule 17g-1(b) and (j) under the Act for inclusion in the Bond; (b) the premium paid by each Fund following the addition of another investment company as a party to the Agreement would be no more than the premium such Fund would have had to pay if it had provided and maintained a single insured bond; (c) such investment company has retained an SEI Service Entity to provide services to the investment company; and (d) such investment company executes a written Addendum to this Agreement in the form set forth in Exhibit A of this Agreement and delivers a copy of such executed Addendum to each Insured.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The obligations of the Funds under this Agreement are not binding upon any of the Trustees or holders of units of beneficial interest of any such Fund individually, but bind only the respective assets of each Fund.

This Agreement among Jointly Insured Parties may be executed in two or more counterparts, all of which taken together shall be deemed one and the same instrument.

IN WITNESS WHEREOF the parties have caused these presents to be executed by their officers hereunto duly authorized all as of the day and year first above written.

---

| | |
|:---|:---|
| SEI ASSET ALLOCATION TRUST | /s/ Timothy D. Barto |
| SEI DAILY INCOME TRUST | /s/ Timothy D. Barto |
| SEI INSTITUTIONAL INTERNATIONAL TRUST | /s/ Timothy D. Barto |
| SEI INSTITUTIONAL INVESTMENTS TRUST | /s/ Timothy D. Barto |
| SEI INSTITUTIONAL MANAGED TRUST | /s/ Timothy D. Barto |
| SEI TAX EXEMPT TRUST | /s/ Timothy D. Barto |
| SEI CATHOLIC VALUES TRUST | /s/ Timothy D. Barto |
| SEI EXCHANGE TRADED FUNDS | /s/ Timothy D. Barto |
| ADVISER MANAGED TRUST | /s/ Timothy D. Barto |
| NEW COVENANT FUNDS | /s/ Timothy D. Barto |
| SEI STRUCTURED CREDIT FUND, L.P. | /s/ Timothy D. Barto |
| THE ADVISORS' INNER CIRCLE FUND | /s/ Alexander F. Smith |
| THE ADVISORS' INNER CIRCLE FUND II | /s/ Alexander F. Smith |
| THE ADVISORS' INNER CIRCLE FUND III | /s/ Alexander F. Smith |
| BISHOP STREET FUNDS | /s/ Alexander F. Smith |
| GALLERY TRUST | /s/ Alexander F. Smith |
| CAUSEWAY CAPITAL MANAGEMENT TRUST | /s/ Matthew M. Maher |
| CATHOLIC RESPONSIBLE INVESTMENTS FUNDS | /s/ Alexander F. Smith |
| FROST FAMILY OF FUNDS | /s/ Alexander F. Smith |

---

---

| | |
|:---|:---|
| DELAWARE WILSHIRE PRIVATE MARKETS MASTER FUND | /s/ Alexander F. Smith |
| DELAWARE WILSHIRE PRIVATE MARKETS FUND | /s/ Alexander F. Smith |
| DELAWARE WILSHIRE PRIVATE MARKETS TENDER FUND | /s/ Alexander F. Smith |
| SEI INVESTMENTS MANAGEMENT CORP. | /s/ Timothy D. Barto |
| SEI GLOBAL SERVICES, INC. | /s/ Bernadette Sparling |
| SEI INVESTMENTS GLOBAL FUNDS SERVICES | /s/ Bernadette Sparling |
| SEI INVESTMENTS DISTRIBUTION CO. | /s/ John C. Munch |
| SEI INSTITUTIONAL TRANSFER AGENT, INC. | /s/ Timothy D. Barto |

---

**Addendum No. 1 to Agreement Among Jointly Insured Parties**

This Addendum No. 1 dated __________ to the Agreement Among Jointly Insured Parties (the "Agreement") dated August 19, 2022 by and among SEI Asset Allocation Trust, SEI Daily Income Trust, SEI Institutional International Trust, SEI Institutional Investments Trust, SEI Institutional Managed Trust, SEI Tax Exempt Trust, Adviser Managed Trust, New Covenant Funds, SEI Structured Credit Fund, L.P., SEI Catholic Values Trust, SEI Exchange Traded Funds, The Advisors' Inner Circle Fund, The Advisors' Inner Circle Fund II, The Advisors' Inner Circle Fund III, Bishop Street Funds, Gallery Trust, Causeway Capital Management Trust, Catholic Responsible Investments Funds, Frost Family of Funds, Delaware Wilshire Private Markets Master Fund, Delaware Wilshire Private Markets Fund and Delaware Wilshire Private Markets Tender Fund (each a "Fund", and collectively, the "Funds"), SEI Investments Management Corp., SEI Investments Distribution Co., SEI Global Services, Inc., SEI Investments Global Funds Services and SEI Institutional Transfer Agent, Inc. (each as an "SEI Service Entity" and collectively, the "SEI Service Entities") (the Funds and the SEI Service Entities are collectively referred to as the "Insureds").

WHEREAS, **____________** ("New Insured") wishes to join as an additional Insured under the Agreement;

WHEREAS, the Agreement permits the addition of New Insured during the current term provided certain conditions are satisfied, including the execution of an Addendum in the form attached thereto; and

WHEREAS, the premium paid by each Fund following the addition of New Insured will be no more than the premium such Fund would have had to pay if it had provided and maintained a single insured bond;

NOW, THEREFORE, it is hereby agreed as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Unless otherwise specified, capitalized terms used in this Addendum are defined as set forth in the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. New Insured represents that (a) it satisfies the requirements of Rule 17g-1(b) and (j) under the Act for
inclusion in the Bond; and (b) such investment company has retained an SEI Service Entity to provide services to it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. New Insured agrees to be bound by all the terms of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. New Insured shall deliver a copy of this executed Addendum to each Insured.

IN WITNESS WHEREOF, New Insured has caused this Addendum to be executed by its officer hereunto duly authorized as of the day and year first above written.

**By**

### Attached PDF Documents

**Attachment 1:** `fp0081983-1_4017g.pdf`

January 17, 2023

Frank Paolucci
AON RISK SERVICES CENTRAL INC
100 N 18TH ST 16TH FL
TWO LOGAN SQUARE
PHILADELPHIA, PA 19103-2707

Re: SEI Investments Management Corporation
Mutual Fund Bond
Policy Number 169906855
Expiration Date: 08/19/2023

Dear Frank,

We are pleased to enclose Policy Number 169906855 for SEI Investments Management Corporation. We trust that this policy meets with the specifications outlined in our quotation (number 6289813201). Please review it carefully to confirm this. Should you detect any problem, please contact me as soon as possible.

If commissions or other compensation are payable hereunder, Insurance Producer will comply with all applicable federal and state laws, rules, regulations and/or orders governing disclosure by an agent, broker or producer to an insured or prospective insured of commissions or other compensation.

We appreciate the opportunity to do business with SEI Investments Management Corporation and with you. If you should have any comments, questions, or concerns, please do not hesitate to contact me.

Sincerely,

Eddie Nikocevic
Underwriter
(212) 440-2329
eddie.nikocevic@cna.com

For All the Commitments You Make®
125 Broad Street, New York, NY 10004

# Declarations
INVESTMENT COMPANY FIDELITY BOND

| CUSTOMER NUMBER |  | DATE ISSUED |
| --- | --- | --- |
| 85409 |  | 01/17/2023 |
| POLICY NUMBER | COVERAGE IS PROVIDED BY | PRODUCER NO. |
| 169906855 | Continental Insurance Company (herein called 'Underwriter') | 701685 |
| NAMED INSURED AND ADDRESS |  | PRODUCER |
| Item 1. SEI Investments Management Corporation (herein called 'Insured') 1 Freedom Valley Drive Oaks, PA 19456 |  | AON RISK SERVICES CENTRAL INC Frank Paolucci 100 N 18TH ST 16TH FL TWO LOGAN SQUARE PHILADELPHIA, PA 19103-2707 |

**Item 2.** Policy Period: From 12:01 a.m. on 8/19/2022 to 12:01 a.m. on 8/19/2023 standard time.

**Item 3.** Limit of Liability: $12,000,000 per Loss part of $40,000,000

Provided, however that if specific limits, either greater or lesser, are inserted opposite any specified INSURING CLAUSE, such specific limits shall be applicable to such INSURING CLAUSES in lieu of, and not in addition to, such bond limit. If "NOT COVERED" is inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE and any other reference to such INSURING CLAUSE shall be deemed to be deleted from this bond.

| INSURING CLAUSE | LIMIT OF LIABILITY | DEDUCTIBLE |
| --- | --- | --- |
| Fidelity - Blanket | $40,000,000 | $150,000 |
| Premises | $40,000,000 | $150,000 |
| Transit | $40,000,000 | $150,000 |
| Forgery or Alteration | $40,000,000 | $150,000 |
| Securities | $40,000,000 | $150,000 |
| Counterfeit Currency | $40,000,000 | $150,000 |
| Extortion - Persons | $40,000,000 | $150,000 |
| Computer Systems Fraud | $40,000,000 | $150,000 |
| Voice Initiated Transfer Fraud | $40,000,000 | $150,000 |
| Uncollectible Items of Deposit | $250,000 | $25,000 |
| Audit Expense | $250,000 | $5,000 |

Provided, that there shall be no deductible applicable to any loss under INSURING CLAUSE 1. sustained by any Investment Company.

**Item 4.** The liability of the Underwriter is also subject to the terms of the following endorsements executed simultaneously herewith: G-145184-A Economic & Trade Sanctions Conditions
FIG-4125-A Non-Cumulative Rider
CNA-95228-XX Cryptocurrency Exclusion Rider
CNA-94805-XX Claims Expense Coverage Rider
CNA-95010-XX Social Engineering Fraud Insuring Clause Coverage Rider
CNA-70927-XX Unauthorized Signature Rider
GSL-54766-XX Additional Named Insured Rider

G-131698-Ac
Ed. date 6/98

For All the Commitments You Make®
125 Broad Street, New York, NY 10004

# Declarations
INVESTMENT COMPANY FIDELITY BOND

GSL-31719-XX Loss Payee Endorsement
FIG-1124-FD Definition of Employee
GSL-5219 Securities and Exchange Regulatory Compliance Rider
SR-5261b Co-Surety Rider
CNA-95964-XX Liberalization Endorsement

Item 5. Notice of claim should be sent to the Underwriter at: CNA - Claims Reporting
P.O. Box 8317
Chicago, IL 60680-8317
Fax Number: 866-773-7504
Email address: SpecialtyNewLoss@cna.com

IN WITNESS WHEREOF, the Underwriter has caused this bond to be signed by its Chairman and Secretary, at Chicago, Illinois, but the same shall not be binding upon the Underwriter unless countersigned by a duly authorized representative or attorney-in-fact of the Underwriter

By _________________________
By: _________________________
Attorney-in-fact

Countersigned

Authorized Representative

Authorized Representative

G-131698-Ac
Ed. date 6/98

The UNDERWRITER, in consideration of the required premium, and in reliance on the APPLICATION and all other statements made and information furnished to the UNDERWRITER by the INSURED, and subject to the DECLARATIONS made a part of this bond and to all other terms and conditions of this bond, agrees to pay the INSURED for:

# INSURING CLAUSES

# 1. EMPLOYEE COVERAGE

Loss resulting directly from Larceny or Embezzlement committed by any Employee, alone or in collusion with others.

# 2. PREMISES COVERAGE

# A. PROPERTY

Loss of Property resulting directly from robbery, burglary, common-law or statutory larceny, hold-up, misplacement, mysterious unexplainable disappearance, damage, destruction or abstraction or removal from the possession, custody or control of the INSURED, while such Property is lodged or deposited within any offices or premises located anywhere.

# B. OFFICES AND EQUIPMENT

Loss of, or damage to furnishings, fixtures, stationery, supplies, equipment, safes or vaults (but excluding all electronic data processing equipment) within any of the INSURED'S offices resulting directly from robbery, burglary, common law or statutory larceny or hold-up of such offices, or attempt thereat, or by vandalism or malicious mischief, or loss through damage to any office resulting directly from robbery, burglary, common law or statutory larceny or hold-up of such office, or attempts thereat, or to the interior of any such office by vandalism or malicious mischief, provided, in any event that the INSURED is the owner of such offices, furnishings, fixtures, stationery, supplies, equipment, safes or vaults or is legally liable for such loss or damage always excepting, however, a loss or damage through fire.

# 3. TRANSIT COVERAGE

Loss of Property resulting directly from robbery, common law or statutory larceny, misplacement, mysterious unexplainable disappearance, damage to or destruction of, while the Property is in transit anywhere:

a. in an armored motor vehicle, including loading and unloading thereof,
b. in the custody of a natural person acting as a messenger of the INSURED, or
c. in the custody of a Transportation Company and being transported in a conveyance other than an armored motor vehicle provided, however, that covered Property transported in such manner is limited to the following:
I. written records,
II. securities issued in registered form which are not endorsed or are restrictively endorsed, or
III. negotiable instruments not payable to bearer, which are not endorsed or are restrictively endorsed.

G-131697-A (ED. 06/98)

Copyright © CNA All Rights Reserved.

1

Coverage under this INSURING CLAUSE begins immediately on the receipt of such Property by the natural person acting as a messenger or Transportation Company and ends immediately on delivery to the premises of the addressee or to any representative of the addressee located anywhere.

#### **4. FORGERY OR ALTERATION COVERAGE**

Loss resulting directly from:

a. Forgery or fraudulent material alteration of, on or in any bills of exchange, checks, drafts, acceptances, certificates of deposits, promissory notes, due bills, money orders, orders upon public treasuries, letters of credit, other written promises, orders or directions to pay sums certain in money, or receipts for the withdrawal of Property, or
b. transferring, paying or delivering any funds or other Property, or establishing any credit or giving any value in reliance on any written instructions, advices, or applications directed to the INSURED authorizing or acknowledging the transfer, payment, delivery or receipt of funds or other Property, which instructions, advices or applications purport to bear the handwritten signature of any customer of the INSURED, or shareholder or subscriber to shares of an Investment Company, or of any banking institution, stockbroker or Employee but which instructions or applications either bear a Forgery or a fraudulent material alteration without the knowledge and consent of such customer, shareholder, subscriber to shares, banking institution, stockbroker, or Employee;

excluding, however, under this INSURING CLAUSE any loss covered under INSURING CLAUSE 5. of this bond, whether or not coverage for INSURING CLAUSE 5. is provided for in the DECLARATIONS of this bond.

A mechanically reproduced facsimile signature is treated the same as a handwritten signature.

#### **5. EXTENDED FORGERY COVERAGE**

Loss resulting directly from the INSURED having in good faith, and in the ordinary course of business, whether for its own account or for the account of others, in any capacity:

a. acquired, accepted or received, sold or delivered, given value, extended credit, or assumed liability in reliance upon any original Securities, documents or other written instruments which prove:
I. to bear a Forgery or fraudulent material alteration,
II. to have been lost or stolen, or
III. to be Counterfeit, or
b. guaranteed in writing or witnessed any signatures upon any transfers, assignments, bills of sale, powers of attorney, guarantees, endorsements or other obligations upon or in connection with any Securities, documents or other written instruments which pass or purport to pass title to them.

Actual physical possession, and continued actual physical possession, of such Securities, documents or other written instruments by an Employee, Custodian, or a Federal or State chartered deposit institution is a condition precedent to the INSURED having relied on such items. Release or return of such items is an acknowledgment by the INSURED that it no longer relies on such items.

A mechanically reproduced facsimile signature is treated the same as a handwritten signature.

G-131697-A (ED. 06/98)

Copyright © CNA All Rights Reserved.

2

## 6. COUNTERFEIT CURRENCY COVERAGE

Loss resulting directly from the receipt by the INSURED, in good faith, of any Counterfeit money orders, currencies or coin of any country.

## 7. THREATS TO PERSONS COVERAGE

Loss resulting directly from surrender of Property away from an office of the INSURED as a result of a threat communicated to the INSURED to do bodily harm to an Employee as defined in paragraphs (1), (2) and (5) of the definition, a Relative or invitee of such Employee, or a resident of the household of such Employee, who is, or allegedly is, being held captive provided, however, that prior to the surrender of such Property:

a. the Employee who receives the threat has made a reasonable effort to notify an officer of the INSURED who is not involved in such threat, and
b. the INSURED has made a reasonable effort to notify the Federal Bureau of Investigation and local law enforcement authorities concerning such threat.

It is agreed that for purposes of the INSURING CLAUSE, any Employee of the INSURED, as set forth in the preceding paragraph, shall be deemed to be an INSURED hereunder, but only with respect to the surrender of money, securities and other tangible personal property in which such Employee has a legal or equitable interest.

## 8. COMPUTER SYSTEMS COVERAGE

Loss resulting directly from fraudulent entry of data into or change of data elements or programs within the INSURED'S proprietary Computer System or a Computer System operated or used by the INSURED and declared in the APPLICATION, provided that the fraudulent entry or change causes:

a. Property to be transferred, paid or delivered,
b. an account of the INSURED, or of its customer, to be added, deleted, debited, or credited, or
c. an unauthorized account or a fictitious account to be debited or credited.

## 9. VOICE INITIATED TRANSACTION COVERAGE

Loss resulting directly from a Voice Initiated Transaction directed to the INSURED authorizing the transfer of dividends or redemption proceeds of Investment Company shares from a Customer's account, provided such Voice Initiated Transaction was:

a. received at the INSURED'S offices by those Employees of the INSURED specifically authorized to receive the Voice Initiated Transaction,
b. made by a person purporting to be a Customer, and
c. made by said person for the purpose of causing the INSURED or Customer to sustain a loss or making an improper personal financial gain for such person or any other person.

In order for coverage to apply under this INSURING CLAUSE, all Voice Initiated Transactions must be received and processed in accordance with the Designated Procedures outlined in the APPLICATION furnished to the UNDERWRITER.

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## 10. UNCOLLECTIBLE ITEMS OF DEPOSIT COVERAGE

Loss resulting directly from the INSURED having credited an account of a customer, shareholder or subscriber on the faith of any Items of Deposit which prove to be uncollectible, provided that the crediting of said account causes:

a. redemption's or withdrawals to be permitted,
b. shares to be issued, or
c. dividends to be paid,
from an account of an Investment Company.

In order for coverage to apply under this INSURING CLAUSE, the INSURED must hold Items of Deposit for the minimum number of days stated in the APPLICATION before permitting any redemption's or withdrawals, issuing any shares or paying any dividends with respect to such Items of Deposit.

Items of Deposit shall not be deemed uncollectible until the INSURED'S standard collection procedures have failed.

## 11. AUDIT EXPENSE COVERAGE

Reasonable expense incurred by the INSURED for that part of an audit or examination required by any governmental regulatory authority or self-regulatory organization and actually conducted by such authority, organization or their appointee by reason of the discovery of loss sustained by the INSURED and covered by this bond.

# CONDITIONS AND LIMITATIONS

### 1. EXCLUSIONS

# A. GENERAL EXCLUSIONS APPLICABLE TO ALL INSURING CLAUSES

This bond does not directly or indirectly cover:

(1) loss not reported to the UNDERWRITER in writing within thirty (30) days after termination of this bond as an entirety;

(2) loss due to riot or civil commotion outside the United States of America and Canada, or any loss due to military, naval or usurped power, war or insurrection. However, this exclusion shall not apply to loss which occurs in transit in the circumstances recited in INSURING CLAUSE 3., provided that when such transit was initiated there was no knowledge on the part of any person acting for the INSURED of such riot, civil commotion, military, naval or usurped power, war or insurrection;

(3) loss resulting from dishonest acts by any member of the Board of Directors or Board of Trustees of the INSURED who is not an Employee, acting alone or in collusion with others;

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(4) loss, or that part of any loss, resulting solely from any violation by the INSURED or by any Employee of any law, or rule, or regulation pursuant to any law regulating:

a. the issuance, purchase or sale of securities,
b. transactions on security or commodity exchanges or the over-the-counter markets,
c. investment companies, or
d. investment advisors;

(5) loss of potential income including, but not limited to, interest and dividends not realized by the INSURED or by any customer of the INSURED;

(6) loss resulting from indirect or consequential loss of any nature;

(7) damages of any type for which the INSURED is legally liable, except compensatory damages (but not multiples thereof) arising from a loss covered under this bond;

(8) loss resulting from the effects of nuclear fission or fusion or radioactivity;

(9) loss resulting from the theft of confidential information, material or data;

(10) costs, fees and expenses incurred by the INSURED in establishing the existence or amount of loss under this bond, provided however, this EXCLUSION shall not apply to INSURING CLAUSE 11.;

(11) loss resulting from voice requests or instructions received over the telephone, provided however, this EXCLUSION shall not apply to INSURING CLAUSE 7. or 9.

B. SPECIFIC EXCLUSIONS APPLICABLE TO ALL INSURING CLAUSES EXCEPT INSURING CLAUSE 1.

This bond does not directly or indirectly cover:

(1) loss caused by an Employee, provided, however, this EXCLUSION shall not apply to loss covered under INSURING CLAUSE 2. or 3. which results directly from misplacement, mysterious unexplainable disappearance, or damage to or destruction of Property;

(2) loss through the surrender of Property away from an office of the INSURED as a result of a threat:

a. to do bodily harm to any person, except loss of Property in transit in the custody of any person acting as messenger of the INSURED, provided that when such transit was initiated there was no knowledge by the INSURED of any such threat, and provided further that this EXCLUSION shall not apply to INSURING CLAUSE 7., or
b. to do damage to the premises or property of the INSURED;

(3) loss involving Items of Deposit which are not finally paid for any reason provided however, that this EXCLUSION shall not apply to INSURING CLAUSE 10.;

(4) loss resulting from payments made or withdrawals from any account involving erroneous credits to such account;

(5) loss of Property while in the mail:

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(6) loss of Property while in the custody of a Transportation Company, provided however, that this EXCLUSION shall not apply to INSURING CLAUSE 3.;

(7) loss resulting from the failure for any reason of a financial or depository institution, its receiver or other liquidator to pay or deliver funds or other Property to the INSURED provided further that this EXCLUSION shall not apply to loss of Property resulting directly from robbery, burglary, hold-up, misplacement, mysterious unexplainable disappearance, damage, destruction or abstraction from the possession, custody or control of the INSURED.

C. EXCLUSIONS APPLICABLE TO ALL INSURING CLAUSES EXCEPT INSURING CLAUSES 1., 4., 5.

This bond does not directly or indirectly cover:

(1) loss resulting from forgery or any alteration;

(2) loss resulting from the complete or partial non-payment of or default on any loan whether such loan was procured in good faith or through trick, artifice, fraud or false pretenses;

(3) loss involving a counterfeit provided, however, this EXCLUSION shall not apply to INSURING CLAUSE 5. or 6.

2. DISCOVERY

This bond applies only to loss first discovered by any partner, director, trustee, officer or supervisory employee of the INSURED during the BOND PERIOD. Discovery occurs at the earlier of such individuals being aware of;

a. facts which may subsequently result in a loss of a type covered by this bond, or
b. an actual or potential claim in which it is alleged that the INSURED is liable to a third party, regardless of when the act or acts causing or contributing to such loss occurred, even though the amount of loss does not exceed the applicable DEDUCTIBLE AMOUNT or the exact amount or details of loss may not then be known.

3. NOTICE TO UNDERWRITER - PROOF - LEGAL PROCEEDINGS AGAINST UNDERWRITER

a. At the earliest practicable moment, not to exceed thirty (30) days after discovery of loss, the INSURED shall give the UNDERWRITER notice thereof.
b. Within six (6) months after such discovery, the INSURED shall furnish to the UNDERWRITER proof of loss, duly sworn to, with full particulars.
c. Securities listed in a proof of loss shall be identified by certificate or bond numbers, if issued with them.
d. Legal proceedings for the recovery of any loss under this bond shall not be brought prior to the expiration of sixty (60) days after the proof of loss is filed with the UNDERWRITER or after the expiration of twenty-four (24) months from the discovery of such loss.
e. This bond affords coverage only in favor of the INSURED. No claim, suit, action or legal proceedings shall be brought under this bond by anyone other than the INSURED.

4. LIMIT OF LIABILITY/NON - REDUCTION AND NON-ACCUMULATION OF LIABILITY

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At all times prior to termination of this bond, this bond shall continue in force for the limit stated in the applicable sections of ITEM 3. of the DECLARATIONS, notwithstanding any previous loss for which the UNDERWRITER may have paid or be liable to pay under this bond provided, however, that the liability of the UNDERWRITER under this bond with respect to all loss resulting from:

a. any one act of burglary, robbery or hold-up, or attempt thereat, in which no Employee is concerned or implicated, or
b. any one unintentional or negligent act on the part of any one person resulting in damage to or destruction or misplacement of Property, or
c. all acts, other than those specified in a. above, of any one person, or
d. any one casualty or event other than those specified in a., b., or c. above,

shall be deemed to be one loss and shall be limited to the applicable LIMIT OF LIABILITY stated in ITEM 3. of the DECLARATIONS of this bond irrespective of the total amount of such loss or losses and shall not be cumulative in amounts from year to year or from period to period.

All acts, as specified in c. above, of any one person which

i. directly or indirectly aid in any way wrongful acts of any other person or persons, or
ii. permit the continuation of wrongful acts of any other person or persons

whether such acts are committed with or without the knowledge of the wrongful acts of the person so aided, and whether such acts are committed with or without the intent to aid such other person, shall be deemed to be one loss with the wrongful acts of all persons so aided.

# 5. DEDUCTIBLE

The UNDERWRITER shall not be liable under any INSURING CLAUSES of this bond on account of loss unless the amount of such loss, after deducting the net amount of all reimbursement and/or recovery obtained or made by the INSURED, other than from any bond or policy of insurance issued by an insurance company and covering such loss, or by the UNDERWRITER on account thereof prior to payment by the UNDERWRITER of such loss, shall exceed the DEDUCTIBLE AMOUNT set forth in ITEM 4. of the DECLARATIONS, and then for such excess only, but in no event for more than the applicable LIMIT OF LIABILITY stated in ITEM 3. of the DECLARATIONS.

There shall be no deductible applicable to any loss under INSURING CLAUSE 1. sustained by any Investment Company.

# 6. COURT COSTS AND ATTORNEYS' FEES

The UNDERWRITER will indemnify the INSURED for court costs and reasonable attorneys' fees incurred and paid by the INSURED in defense, whether or not successful, whether or not fully litigated on the merits and whether or not settled, of any claim, suit or legal proceeding with respect to which the INSURED would be entitled to recovery under this bond. However, with respect to INSURING CLAUSE 1. this Section shall only apply in the event that:

a. an Employee admits to being guilty of Larceny or Embezzlement,
b. an Employee is adjudicated to be guilty of Larceny or Embezzlement, or

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c. in the absence of a. or b. above, an arbitration panel agrees, after a review of an agreed statement of facts between the UNDERWRITER and the INSURED, that an Employee would be found guilty of Larceny or Embezzlement if such Employee were prosecuted.

The INSURED shall promptly give notice to the UNDERWRITER of any such suit or legal proceeding and at the request of the UNDERWRITER shall furnish copies of all pleadings and pertinent papers to the UNDERWRITER. The UNDERWRITER may, at its sole option, elect to conduct the defense of all or part of such legal proceeding. The defense by the UNDERWRITER shall be in the name of the INSURED through attorneys selected by the UNDERWRITER. The INSURED shall provide all reasonable information and assistance as required by the UNDERWRITER for such defense.

If the amount demanded in any such suit or legal proceeding is greater than the LIMIT OF LIABILITY stated in ITEM 3. of the DECLARATIONS for the applicable INSURING CLAUSE, or if a DEDUCTIBLE AMOUNT is applicable, or both, the UNDERWRITER'S liability for court costs and attorneys' fees incurred in defending all or part of such legal proceeding is limited to the proportion of such court costs and attorneys' fees incurred that the LIMIT OF LIABILITY stated in ITEM 3. of the DECLARATIONS for the applicable INSURING CLAUSE bears to the total of the amount demanded in such suit or legal proceeding.

Amounts paid by the UNDERWRITER for court costs and attorneys' fees shall be in addition to the LIMIT OF LIABILITY stated in ITEM 3. of the DECLARATIONS.

If the UNDERWRITER declines to defend the INSURED, no settlement without the prior written consent of the UNDERWRITER nor judgment against the INSURED shall determine the existence, extent or amount of coverage under this bond, and the UNDERWRITER shall not be liable for any costs, fees and expenses incurred by the INSURED.

## 7. VALUATION OF PROPERTY

The value of any loss of Property other than books of account or other records used by the INSURED in the conduct of its business, for which a claim is made shall be determined by the average market value of such Property on the business day immediately preceding discovery of such loss provided, however, that the value of any Property replaced by the INSURED with the consent of the UNDERWRITER and prior to the settlement of any claim for such Property shall be actual market value at the time of replacement.

In the case of a loss of interim certificates, warrants, rights or other securities, the production of which is necessary to the exercise of subscription, conversion, redemption or deposit privileges, the value of them shall be the market value of such privileges immediately preceding their expiration if said loss is not discovered until after their expiration. If no market price is quoted for such Property or for such privileges, the value shall be fixed by agreement between the parties.

The value of any loss of Property consisting of books of account or other records used by the INSURED in the conduct of its business shall be the amount paid by the INSURED for blank books, blank pages, or other materials which replace the lost books of account or other records, plus the cost of labor paid by the INSURED for the actual transcription or copying of data to reproduce such books of account or other records.

## 8. VALUATION OF PREMISES AND FURNISHINGS

In the case of loss or damage to any office of the INSURED or to the furnishings, fixtures, stationery, supplies, equipment, safes or vaults, the UNDERWRITER shall not be liable for more than the actual cash

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value thereof, or for more than the actual cost of replacement or repair. The UNDERWRITER may, at its election, pay such actual cash value or make such replacement or repair. If the UNDERWRITER and the INSURED cannot agree upon the actual cash value or the cost of replacement or repair, it shall be determined by arbitration.

## 9. SECURITIES SETTLEMENT

In the event of a loss of securities covered under this bond, the UNDERWRITER may, at its sole discretion, purchase replacement securities, tender the value of the securities in money, or issue its indemnity to effect replacement securities.

The indemnity required from the INSURED under the terms of this Section against all loss, cost or expense arising from the replacement of securities by the UNDERWRITER'S indemnity shall be:

a. for securities having a value less than or equal to the applicable DEDUCTIBLE AMOUNT one hundred (100% percent);
b. for securities having a value in excess of the DEDUCTIBLE AMOUNT but within the applicable LIMIT OF LIABILITY- the percentage that the DEDUCTIBLE AMOUNT bears to the value of the securities;
c. for securities having a value greater than the applicable LIMIT OF LIABILITY the percentage that the DEDUCTIBLE AMOUNT and portion in excess of the applicable LIMIT OF LIABILITY bears to the value of the securities.

The value referred to in a., b., and c. above is the value in accordance with SECTION 7., VALUATION OF PROPERTY, regardless of the value of such securities at the time the loss under the UNDERWRITER'S indemnity is sustained.

The UNDERWRITER is not required to issue its indemnity for any portion of a loss of securities which is not covered by this bond; however, the UNDERWRITER may do so as a courtesy to the INSURED and at its sole discretion.

The INSURED shall pay the proportion of the UNDERWRITER'S premium charge for the UNDERWRITER'S indemnity as set forth in a., b., and c. above. No portion of the LIMIT OF LIABILITY shall be used as payment of premium for any indemnity purchased by the INSURED to obtain replacement securities.

## 10. SUBROGATION - ASSIGNMENT-RECOVERY

In the event of a payment under this bond, the UNDERWRITER shall be subrogated to all of the INSURED'S rights of recovery against any person or entity to the extent of such payment. On request, the INSURED shall deliver to the UNDERWRITER an assignment of the INSURED'S rights, title and interest and causes of action against any person or entity to the extent of such payment.

Recoveries, whether effected by the UNDERWRITER or by the INSURED, shall be applied net of the expense of such recovery, first to the satisfaction of the INSURED'S loss which would otherwise have been paid but for the fact that it is in excess of the applicable LIMIT OF LIABILITY, second, to the UNDERWRITER in satisfaction of amounts paid in settlement of the INSURED'S claim and third, to the INSURED in satisfaction of the applicable DEDUCTIBLE AMOUNT. Recovery from reinsurance and/or indemnity of the UNDERWRITER shall not be deemed a recovery under this section.

## 11. COOPERATION OF INSURED

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At the UNDERWRITER'S request and at reasonable times and places designated by the UNDERWRITER the INSURED shall submit to examination by the UNDERWRITER and subscribe to the same under oath, produce for the UNDERWRITER'S examination all pertinent records, and cooperate with the UNDERWRITER in all matters pertaining to the loss.

The INSURED shall execute all papers and render assistance to secure to the UNDERWRITER the rights and causes of action provided for under this bond. The INSURED shall do nothing after loss to prejudice such rights or causes of action.

## **12. OTHER INSURANCE**

Coverage under this bond shall apply only as excess over any valid and collectible insurance, indemnity or suretyship obtained by or on behalf of the INSURED, a Transportation Company, or another entity on whose premises the loss occurred or which employed the person causing the loss or engaged the messenger conveying the Property involved.

## **13. ADDITIONAL COMPANIES INCLUDED AS INSURED**

If more than one corporation, or Investment Company, or any combination of them is included as the INSURED herein:

a. The total liability of the UNDERWRITER under this bond for loss or losses sustained by any one or more or all of them shall not exceed the limit for which the UNDERWRITER would be liable under this bond if all such losses were sustained by any one of them.
b. Only the first named INSURED shall be deemed to be the sole agent of the others for all purposes under this bond, including but not limited to the giving or receiving of any notice or proof required to be given and for the purpose of effecting or accepting any amendments to or termination of this bond. The UNDERWRITER shall furnish each Investment Company with a copy of the bond and with any amendment thereto, together with a copy of each formal filing of claim by any other named INSURED and notification of the terms of the settlement of each such claim prior to the execution of such settlement.
c. The UNDERWRITER shall not be responsible for the proper application of any payment made hereunder to the first named INSURED.
d. Knowledge possessed or discovery made by any partner, director, trustee, officer or supervisory employee of any INSURED shall constitute knowledge or discovery by all the INSUREDS for the purposes of this bond.
e. If the first named INSURED ceases for any reason to be covered under this bond, then the INSURED next named shall thereafter be considered as the first named INSURED for the purpose of this bond.

## **14. ADDITIONAL OFFICES OR EMPLOYEES - CONSOLIDATION, MERGER OR PURCHASE OR ACQUISITION OF ASSETS OR LIABILITIES - NOTICE TO UNDERWRITER**

If the INSURED, other than an Investment Company, while this bond is in force, merges or consolidates with, or purchases or acquires assets or liabilities of another institution, the INSURED shall not have the coverage afforded under this bond for loss which:

a. has occurred or will occur in offices or on premises, or
b. has been caused or will be caused by an employee or employees, or

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c. has arisen or will arise out of the assets or liabilities acquired unless the INSURED

i. gives the UNDERWRITER written notice of the proposed consolidation, merger or purchase or acquisition of assets or liabilities prior to the proposed effective date of such action, and
ii. obtains the written consent of the UNDERWRITER to extend some or all of the coverage provided by this bond to such additional exposure, and
iii. on obtaining such consent pays to the UNDERWRITER an additional premium.

## 15. CHANGE OF CONTROL - NOTICE TO UNDERWRITER

When the INSURED learns of a change in control (other than in an Investment Company), as set forth in Section 2(a) (9) of the Investment Company Act of 1940, the INSURED shall within thirty (30) days give written notice to the UNDERWRITER setting forth:

a. the names of the transferors and transferees (or the names of the beneficial owners if the voting securities are registered in another name),
b. the total number of voting securities owned by the transferors and the transferees (or the beneficial owners), both immediately before and after the transfer, and
c. the total number of outstanding voting securities.

Failure to give the required notice shall result in termination of coverage for any loss involving a transferee, to be effective on the date of such change in control.

## 16. REPRESENTATIONS MADE BY INSURED

The INSURED represents that all information it has furnished in the APPLICATION for this bond or otherwise is complete, true and correct. Such APPLICATION and other information constitute part of this bond.

The INSURED must promptly notify the UNDERWRITER of any change in any fact or circumstance which materially affects the risk assumed by the UNDERWRITER under this bond.

Any misrepresentation, omission, concealment or incorrect statement of a material fact, in the APPLICATION or otherwise, shall be grounds for rescission of this bond.

## 17. TERMINATION - CANCELLATION

If the bond is for a sole INSURED, it shall not be terminated or canceled unless written notice shall have been given by the acting party to the affected party and to the Securities and Exchange Commission, Washington, D.C., not less than sixty (60) days prior to the effective date of such termination or cancellation.

If the bond is for a joint INSURED, it shall not be terminated or canceled unless written notice shall have been given by the acting party to the affected party, and by the UNDERWRITER to all INSURED Investment Companies and to the Securities and Exchange Commission, Washington, D.C., not less than sixty (60) days prior to the effective date of such termination or cancellation.

This bond will terminate as to any one INSURED, other than an Investment Company, immediately on the taking over of such INSURED by a receiver or other liquidator or by State or Federal officials, or immediately on the filing of a petition under any State or Federal statute relative to bankruptcy or reorganization of the

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INSURED, or assignment for the benefit of creditors of the INSURED, or immediately upon such INSURED ceasing to exist, whether through merger into another entity, disposition of all of its assets or otherwise.

The UNDERWRITER shall refund the unearned premium computed at short rates in accordance with the standard short rate cancellation tables if terminated by the INSURED or pro rata if terminated for any other reason.

Coverage will terminate as to any Employee:

a. immediately on any partner, director, trustee, or officer or supervisory employee not acting in collusion with such Employee, learning of any dishonest act committed by such Employee at any time, whether in the employment of the INSURED or otherwise, whether or not such act is of the type covered under this bond, and whether against the INSURED or any other person or entity, or
b. sixty (60) days after the receipt by each INSURED and by the Securities and Exchange Commission, Washington, D.C., of a written notice from the UNDERWRITER of its desire to terminate this bond as to such Employee.

## 18. CHANGE OR MODIFICATION

This bond or any instrument amending or affecting this bond may not be changed or modified orally. No change in or modification of this bond shall be effective except when made by written endorsement to this bond signed by an authorized representative of the UNDERWRITER.

If this bond is for a sole INSURED, no change or modification which would adversely affect the rights of the INSURED shall be effective prior to sixty (60) days after written notice has been furnished to the Securities and Exchange Commission, Washington, D.C., by the acting party.

If this bond is for a joint INSURED, no change or modification which would adversely affect the rights of the INSURED shall be effective prior to sixty (60) days after written notice has been furnished to all insured Investment Companies and to the Securities and Exchange Commission, Washington, D.C., by the UNDERWRITER.

## DEFINITIONS

As used in this bond:

**Computer System** means:

1. computers, with related peripheral and storage components, wherever located,
2. systems and applications software,
3. terminal devices, and
4. related communication networks by which data are electronically collected, transmitted, processed, stored, and retrieved.

**Counterfeit** means an imitation of an actual valid original which is intended to deceive and be taken as the original.

**Custodian** means the institution designed by an Investment Company to maintain possession and control of its assets.

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**Customer** means an individual, corporate, partnership or trust customer shareholder or subscriber of an Investment Company which has a written agreement with the INSURED for Voice Initiated Transactions.

**Employee** means:

1. an officer of the INSURED,
2. a natural person while in the regular service of the INSURED at any of the INSURED'S offices and compensated directly by the INSURED through its payroll system and subject to the United States Internal Revenue Service Form W-2 or equivalent income reporting plans of other countries, and whom the INSURED has the right to control and direct both as to the result to be accomplished and details and means by which such result is accomplished in the performance of such service,
3. an attorney retained by the INSURED and an employee of such attorney while either is performing legal services for the INSURED,
4. a person provided by an employment contractor to perform clerical, premises maintenance or security duties for the INSURED under the INSURED'S supervision at any of the INSURED'S offices or premises,
5. an employee of an institution merged or consolidated with the INSURED prior to the effective date of this bond,
6. a guest student pursuing studies or performing duties in any of the INSURED'S offices,
7. each natural person, partnership or corporation authorized by written agreement with the INSURED to perform services as electronic data processor of checks or other accounting records related to such checks but only while such person, partnership or corporation is actually performing such services and not:
   a. creating, preparing, modifying or maintaining the INSURED'S computer software or programs, or
   b. acting as transfer agent or in any other agency capacity in issuing checks, drafts or securities for the INSURED,
8. a director or trustee of the INSURED, but only while performing acts within the scope of the customary and usual duties of any officer or employee of the INSURED or while acting as a member of any committee duly elected or appointed to examine or audit or have custody of or access to Property of the INSURED, or
9. any partner, officer or employee of an investment adviser, an underwriter (distributor), a transfer agent or shareholder accounting recordkeeper, or an administrator, for an Investment Company while performing acts coming within the scope of the customary and usual duties of an officer or employee of an Investment Company or acting as a member of any committee duly elected or appointed to examine, audit or have custody of or access to Property of an Investment Company.

The term Employee shall not include any partner, officer or employee of a transfer agent, shareholder accounting recordkeeper or administrator:

a. which is not an "affiliated person" (as defined in Section 2(a) of the Investment Company Act of 1940) of an Investment Company or of the investment adviser or underwriter (distributor) of such Investment Company, or
b. which is a "bank" (as defined in Section 2(a) of the Investment Company Act of 1940).

This bond does not afford coverage in favor of the employers of persons as set forth in 4. and 7. above, and upon payment to the INSURED by the UNDERWRITER resulting directly from Larceny or Embezzlement committed by any of the partners, officers or employees of such employers, whether acting alone or in collusion with others, an assignment of such of the INSURED'S rights and causes of action as

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it may have against such employers by reason of such acts so committed shall, to the extent of such payment, be given by the INSURED to the UNDERWRITER, and the INSURED shall execute all papers necessary to secure to the UNDERWRITER the rights provided for herein.

Each employer of persons as set forth in 3., 4. and 7. above and the partners, officers and other employees of such employers shall collectively be deemed to be one person for all the purposes of this bond, excepting, however, the last paragraph of Section 18.

Independent contractors not specified in 3., 4., and 7. above, intermediaries, agents, brokers or other representatives of the same general character shall not be considered Employees.

**Forgery** means the signing of the name of another person or organization with the intent to deceive but does not mean a signature which consists in whole or in part of one's own name, with or without authority, in any capacity, for any purpose.

**Investment Company** means an investment company registered under the Investment Company Act of 1940 and as listed under the NAME OF INSURED on the DECLARATIONS.

**Items of Deposit** means one or more checks or drafts drawn upon a financial institution in the United States of America.

**Larceny or Embezzlement** means larceny or embezzlement as set forth in Section 37 of the Investment Company Act of 1940.

**Property** means money (i.e., currency, coin, bank notes, or Federal Reserve notes); postage and revenue stamps; U.S. Savings Stamps; securities, including any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of deposit, certificate of interest or participation in any profit-sharing agreement, collateral trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any interest or instruments commonly known as security under the Investment Company Act of 1940, any other certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the foregoing; bills of exchange; acceptances; checks; withdrawal orders; money orders; travelers' letters of credit; bills of lading; abstracts of title; insurance policies; deeds; mortgages on real estate and/or upon chattels and interests therein; assignments of such policies, mortgages and instruments; other valuable papers, including books of accounts and other records used by the INSURED in the conduct of its business (but excluding all electronic data processing records); and, all other instruments similar to or in the nature of the foregoing in which the INSURED acquired an interest at the time of the INSURED'S consolidation or merger with, or purchase of the principal assets of, a predecessor or which are held by the INSURED for any purpose or in any capacity and whether so held gratuitously or not and whether or not the INSURED is liable therefor.

**Relative** means the spouse of an Employee or partner of the INSURED and any unmarried child supported wholly by, or living in the home of, such Employee or partner and being related to them by blood, marriage or legal guardianship.

**Securities**, documents or other written instruments means original (including original counterparts) negotiable or non-negotiable instruments, or assignments thereof, which in and of themselves represent an equitable interest, ownership, or debt and which are in the ordinary course of business transferable by delivery of such instruments with any necessary endorsements or assignments.

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**Transportation Company** means any organization which provides its own or leased vehicles for transportation or which provides freight forwarding or air express services.

**Voice Initiated Election** means any election concerning dividend options available to Investment Company shareholders or subscribers which is requested by voice over the telephone.

**Voice Initiated Redemption** means any redemption of shares issued by an Investment Company which is requested by voice over the telephone.

**Voice Initiated Transaction(s)** means any Voice Initiated Redemption or Voice Initiated Election.

A handwritten signature in black ink, appearing to read 'D. P. Murray'.

A handwritten signature in black ink, appearing to read 'S. T. B.'.

Chairman

Secretary

G-131697-A (ED. 06/98)

Copyright © CNA All Rights Reserved.

15

**THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.**

# **ECONOMIC AND TRADE SANCTIONS CONDITION**

The following condition is added to the Policy:

# **ECONOMIC AND TRADE SANCTIONS CONDITION**

In accordance with laws and regulations of the United States concerning economic and trade embargoes, this policy is void from its inception with respect to any term or condition of this policy that violates any laws or regulations of the United States concerning economic and trade embargoes including, but not limited to the following:

1. Any insured under this Policy, or any person or entity claiming the benefits of such insured, who is or becomes a Specially Designated National or Blocked Person or who is otherwise subject to U.S. economic or trade sanctions;
2. Any claim or suit that is brought in a Sanctioned Country or by a Sanctioned Country Government, where any action in connection with such claim or suit is prohibited by U.S. economic or trade sanctions;
3. Any claim or suit that is brought by any Specially Designated National or Blocked Person or any person or entity who is otherwise subject to U.S. economic or trade sanctions;
4. Property that is located in a Sanctioned Country or that is owned by, rented to or in the care, custody or control of a Sanctioned Country Government, where any activities related to such property are prohibited by U.S. economic or trade sanctions; or
5. Property that is owned by, rented to or in the care, custody or control of a Specially Designated National or Blocked Person, or any person or entity who is otherwise subject to U.S. economic or trade sanctions.

As used in this endorsement a Specially Designated National or Blocked Person is any person or entity that is on the list of Specially Designated Nationals and Blocked Persons issued by the U.S. Treasury Department's Office of Foreign Asset Control (O.F.A.C.) as it may be from time to time amended.

As used in this endorsement a Sanctioned Country is any country that is the subject of trade or economic embargoes imposed by the laws or regulations of the United States of America.

ENDORSEMENT NUMBER: 1
POLICY NUMBER: 169906855
ISSUED TO: SEI Investments Management Corporation
EFFECTIVE DATE OF ENDORSEMENT: 08/19/2022

This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy and expires concurrently with said Policy unless another effective date is shown above.

By Authorized Representative ___________________________
(No signature is required if this endorsement is issued with the Policy or if it is effective on the Policy Effective Date)

G-145184-A (Ed. 6/03)
Page 1 of 1

## Non-Cumulative Rider

To be attached to and form part of Financial Institution Bond, Standard Form No. 14, No. 169906855
This rider shall become effective as of 12:01 a.m. standard time as specified on the bond.

In consideration of the premium paid, it is agreed that the following is added to the end of **LIMIT OF LIABILITY**:

In the event of loss to which both Bond No. 169906855 issued by the Underwriter to SEI Investments Management Corporation and bond no. 169794798 issued by the Underwriter to SEI Investments Company apply, the liability of the Underwriter for such loss shall not exceed, in the aggregate, the highest available Single Loss Limit of Liability applicable to such loss under either bond, and The Single Loss Deductible applied to such loss shall be the highest under any applicable Insuring Agreement.

Nothing contained herein shall be held to vary, alter, waive, or extend any of the terms, limitations, conditions or provisions of the attached bond other than as above stated.

This endorsement, which forms a part of and is for attachment to the following described Policy issued by the designated Insurers takes effect on the effective date of said Policy, unless another effective date is shown below, at the hour stated in said Policy and expires concurrently with said Policy.

| Must be Completed |  |
| --- | --- |
| ENDT. NO. | POLICY NO. |
| 2 | 169906855 |

| Complete Only When This Endorsement Is Not Prepared with the Policy or is Not to be Effective with the Policy |  |
| --- | --- |
| ISSUED TO | EFFECTIVE DATE OF THIS ENDORSEMENT |

CNA
For All the Commitments You Make®

Countersigned by _________________________
Authorized Representative

Page 1 of 1

**CNA INSURANCE COMPANIES**
FIG-4125-A
(ED. 06/99)

# CRYPTOCURRENCY EXCLUSION RIDER

In consideration of the premium, Paragraph A. General Exclusions Applicable to All Insuring Clauses of Section 1, Exclusions set forth in the CONDITIONS AND LIMITATIONS of the bond is amended to add the following:

This bond does not directly or indirectly cover loss resulting from the theft, destruction, disappearance, misplacement, or change in value of any virtual or digital currency in which cryptography or other encryption security techniques are used to regulate the generation of units of currency and/or verify the transfer of funds, operating independently of a central bank, including when such virtual or digital currency cannot be retrieved or accessed for any reason.

All other terms and conditions of the Bond remain unchanged.

This rider, which forms a part of and is for attachment to the Bond issued by the designated Insurers, takes effect on the effective date of said Bond at the hour stated in said Bond, unless another effective date is shown below, and expires concurrently with said Bond.

CNA95228XX (3-19)

Page 1

Continental Insurance Company

Insured Name: SEI Investments Management Corporation

© CNA All Rights Reserved.

Policy No: 169906855

Endorsement No: 3

Effective Date: 08/19/2022

## CLAIMS EXPENSE COVERAGE RIDER

In consideration of the premium, the bond is amended as follows:

I. Insuring Clause 1, Employee Coverage set forth in the **INSURING CLAUSES** section of the bond is amended to add the following:

This bond provides coverage for reasonable and necessary expenses incurred and paid by the INSURED, with prior written approval from the UNDERWRITER, in preparing any claim for a loss payable pursuant to Insuring Agreement 1, Employee Coverage.

The UNDERWRITER'S Limit of Liability for this coverage shall be $250,000 with respect to any loss. This Limit of Liability will be part of and not in addition to the Limit of Liability applicable to Insuring Agreement 1, Employee Coverage shown in ITEM 3 of the DECLARATIONS.

II. Solely with respect to the coverage provided by this Rider, exclusion (10) set forth in Section 1, Exclusions of the **CONDITIONS AND LIMITATIONS** is deleted.

All other terms and conditions of the Bond remain unchanged.

This rider, which forms a part of and is for attachment to the Bond issued by the designated Insurers, takes effect on the effective date of said Bond at the hour stated in said Bond, unless another effective date is shown below, and expires concurrently with said Bond.

CNA94805XX (1-19)

Page 1

Continental Insurance Company

Insured Name: SEI Investments Management Corporation

© CNA All Rights Reserved.

Bond No: 169906855

Rider No: 4

Effective Date: 08/19/2022

# SOCIAL ENGINEERING FRAUD INSURING CLAUSE COVERAGE RIDER

In consideration of the premium, the bond is amended as follows:

I. Item 3 of the Declarations is amended to add the following:

| INSURING CLAUSE | LIMIT OF LIABILITY | DEDUCTIBLE |
| --- | --- | --- |
| Social Engineering Fraud | $250,000 | $150,000 |

II. The Section entitled Insuring Clauses is amended to add the following Insuring Clause:

# SOCIAL ENGINEERING FRAUD INSURING CLAUSE

Loss of Funds resulting directly from an INSURED having, in good faith, transferred Funds from such INSURED's account as a result of Social Engineering Fraud committed by a person or entity, who is not, but purports to be a Vendor, Employee, or Customer.

III. Solely with respect to the coverage afforded by this Rider, the section entitled Definitions is amended to add the following definitions:

**Communication** means an electronic, telefacsimile, telephone or written instruction received by the INSURED that:

1. establishes or changes the method, destination or account for payment or delivery of Funds;
2. contains a misrepresentation of a material fact; and
3. is relied upon by any Employee, believing it to be true.

**Funds** means money on deposit in an account with a credit balance.

**Social Engineering Fraud** means the intentional misleading of an Employee through the use of a Communication.

**Vendor** means a person or entity that has provided goods or services to the INSURED under a genuine, pre-existing:

1. written agreement; or
2. other arrangement.

Vendor does not mean any financial institution, asset manager, armored motor vehicle company, automated clearinghouse, custodian, or similar entity.

IV. Paragraph 1, Exclusions of the Section entitled Conditions and Limitations is amended as follows:

A. Subparagraph A, General Exclusions Applicable to All Insuring Clauses is amended to add the following exclusion:

This bond does not directly or indirectly cover:

- loss resulting directly or indirectly from or in any way involving, in whole or in part, Social Engineering Fraud, provided however, this EXCLUSION shall not apply to the Social Engineering Fraud Insuring Clause;

B. Solely with respect to the coverage afforded by this Rider, the following exclusions are added:

CNA95010XX (10-20)

Page 1

Continental Insurance Company

Insured Name: SEI Investments Management Corporation

Policy No: 169906855

Endorsement No: 5

Effective Date: 08/19/2022

© CNA All Rights Reserved.

CNA

This bond does not directly or indirectly cover:

- loss resulting directly or indirectly from any investment in Securities, or ownership in any corporation, partnership, real property, or similar instrument, whether or not such investment is genuine;
- loss resulting directly or indirectly from the failure, malfunction, illegitimacy, inappropriateness, or inadequacy of any product or service;
- loss resulting directly or indirectly from any person or entity's use of or acceptance of any credit, debit or charge card, or similar card or instrument, whether or not genuine;
- loss resulting directly or indirectly from any gambling, game of chance, lottery, or similar game;
- loss resulting directly or indirectly from any actual, alleged, or attempted kidnap or extortion or ransom demand; or
- loss of or damage to money or Securities while in the mail or in the custody of any carrier for hire, including but not limited to any armored motor vehicle company.

All other terms and conditions of the Bond remain unchanged.

This rider, which forms a part of and is for attachment to the Bond issued by the designated Insurers, takes effect on the effective date of said Bond at the hour stated in said Bond, unless another effective date is shown below, and expires concurrently with said Bond.

CNA95010XX (10-20)

Page 2

Continental Insurance Company

Insured Name: SEI Investments Management Corporation

© CNA All Rights Reserved.

Policy No: 169906855

Endorsement No: 5

Effective Date: 08/19/2022

# UNAUTHORIZED SIGNATURE RIDER

In consideration of the premium paid for this Bond, it is understood and agreed as follows:

I. The **INSURING CLAUSES** section of the Bond is amended by the addition of the following new INSURING CLAUSE:

# - • **UNAUTHORIZED SIGNATURE**

Loss resulting directly from the INSURED having accepted, paid or cashed any check, withdrawal order or draft, made or drawn on a customer's account, which bears the signature or endorsement of one other than a person whose name and signature is on the application on file with the INSURED as a signatory on such account.

It shall be a condition precedent to the INSURED'S right of recovery under this INSURING CLAUSE that the INSURED shall have on file signatures of all persons who are authorized signatories on such account.

II. The list of specific limits and deductibles set forth in ITEM 3. of the DECLARATIONS is amended by the addition of the following:

| INSURING CLAUSE | LIMIT OF LIABILITY | DEDUCTIBLE |
| --- | --- | --- |
| Unauthorized Signature | $500,000 | $25,000 |

All other terms and conditions of the Bond remain unchanged.

This rider, which forms a part of and is for attachment to the Bond issued by the designated Insurers, takes effect on the effective date of said Bond at the hour stated in said Bond, unless another effective date is shown below, and expires concurrently with said Bond.

CNA70927XX (9-12)

Page 1

Continental Insurance Company

Insured Name: SEI Investments Management Corporation

© CNA All Rights Reserved.

Policy No: 169906855

Endorsement No: 6

Effective Date: 08/19/2022

# ADDITIONAL NAMED INSURED RIDER

In consideration of the premium paid for the bond, it is understood and agreed that Item 1. of the Declarations is amended to include the following persons or entities as Named Insureds under the bond:

- SEI LIQUID ASSET TRUST
- SEI TAX EXEMPT TRUST
- SEI DAILY INCOME TRUST
- SEI INSTITUTIONAL INTERNATIONAL TRUST
- SEI INSTITUTIONAL MANAGED TRUST
- SEI ASSET ALLOCATION TRUST
- SEI INSTITUTIONAL INVESTMENTS TRUST
- Adviser Managed Trust
- New Covenant Funds
- SEI Insurance Products Trust
- SEI Catholic Values Trust
- SEI Exchange Traded Funds
- SEI Structured Credit Fund
- THE ADVISORS' INNER CIRCLE FUND
- THE ADVISORS' INNER CIRCLE FUND II
- BISHOP STREET FUNDS
- KP Funds
- THE ADVISORS' INNER CIRCLE FUND III
- Gallery Trust
- Schroder Series Trust
- Schroder Global Series Trust
- Delaware Wilshire Private Markets Funds
- Frost Family of Funds
- Causeway ETMF Trust
- Causeway Capital Management Trust
- Catholic Responsible Investments Funds

All other terms and conditions of the Bond remain unchanged.

This rider, which forms a part of and is for attachment to the Bond issued by the designated Insurers, takes effect on the effective date of said Bond at the hour stated in said Bond, unless another effective date is shown below, and expires concurrently with said Bond.

GSL54766XX (1-12)

Page 1

Continental Insurance Company

Insured Name: SEI Investments Management Corporation

Policy No: 169906855

Endorsement No: 7

Effective Date: 08/19/2022

© CNA All Rights Reserved.

# **SEI INVESTMENT COMPANY, INC. LOSS PAYEE ENDORSEMENT**

In consideration of the premium paid for this bond, it is understood and agreed that:

At the written request of the Insured, any payment in satisfaction of loss covered by this bond involving Money or other Property in which a customer who has an interest shall be paid by an instrument issued to that customer and the Insured as joint loss-payees, subject to the following conditions and limitations:

(a) This bond is for the sole use and benefit of the Insured as expressed herein. Such customer described above shall not be considered as an Insured under this bond, nor shall it otherwise have any rights or benefits under said bond.

(b) Any payment made jointly to the Insured and such customer described above of loss covered by this bond shall be construed to be payment to the Insured, and shall not exceed the limits of liability as set forth in the Declarations.

(c) The limit of liability of the Underwriter, as set forth in the Declarations, shall not be increased by the inclusion of such customer described above as loss-payee.

All other terms and conditions of the Bond remain unchanged.

This rider, which forms a part of and is for attachment to the Bond issued by the designated Insurers, takes effect on the effective date of said Bond at the hour stated in said Bond, unless another effective date is shown below, and expires concurrently with said Bond.

GSL31719XX 4-14

Page 1

Continental Insurance Company

Insured Name: SEI Investments Management Corporation

Policy No: 169906855

Endorsement No: 8

Effective Date: 8/19/2022

© CNA All Rights Reserved.

**THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.**

# **DEFINITION OF EMPLOYEE - AMENDED**

It is hereby agreed and understood that employees of SEI Investments Management Corporation are considered employees only while acting on behalf of SEI Investments Management Corporation.

---

FIG-1124-FD

Page 1

Continental Insurance Company

Insured Name: SEI Investments Management Corporation

© CNA All Rights Reserved.

Policy No: 169906855

Endorsement No: 9

Effective Date: 8/19/2022

# SECURITIES AND EXCHANGE REGULATORY COMPLIANCE RIDER

In consideration of the premium paid for this Bond, It is agreed that:

Pursuant to Rule 17g-1(c) under the Company Act, the parties agree as follows:

The Insurer will provide all registered management investment companies under this bond with:

1. a copy of the bond and any amendment promptly after the execution of the bond,
2. a copy of each formal filing of a claim under the bond by any other named insured promptly after receipt of the claim, and
3. notification of the terms of settlement of each such claim prior to the execution of the settlement.

All other terms and conditions of the Bond remain unchanged.

This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy and expires concurrently with said Policy unless another effective date is shown below.

By Authorized Representative

(No signature is required if issued with the Policy or if it is effective on the Policy Effective Date)

GSL5219 (11-04)

Page 1

Continental Insurance Company

Insured Name: SEI Investments Management Corporation

Policy No: 169906855

Endorsement No: 10

Effective Date: 8/19/2022

© CNA All Rights Reserved.

# COSURETY RIDER

It is agreed that:

1. The term "Underwriter" as used in the attached bond shall be construed to mean, unless otherwise specified in this rider, all the Companies executing the attached bond.
2. Each of said Companies shall be liable only for such proportion of any Single Loss under the attached bond as the amount underwritten by such Company as specified in the Schedule forming a part hereof, bears to the Aggregate Limit of Liability of the attached bond, but in no event shall any of said Companies be liable for an amount greater than that underwritten by it.
3. In the absence of a request from any of said Companies to pay premiums directly to it, premiums for the attached bond may be paid to the Controlling Company for the account of all of said Companies.
4. In the absence of a request from any of said Companies that notice of claim and proof of loss be given to or filed directly with it, the giving of such notice to and the filing of such proof with, the Controlling Company shall be deemed to be in compliance with the conditions of the attached bond for the giving of notice of loss and the filing of proof of loss, if given and filed in accordance with said conditions.
5. The Controlling Company may give notice in accordance with the terms of the attached bond, terminating or canceling the attached bond as an entirety or as to any Employee, and any notice so given shall terminate or cancel the liability of all of said Companies as an entirety or as to such Employee, as the case may be.
6. Any Company other than the Controlling Company may give notice in accordance with the terms of the attached bond, terminating or canceling the entire liability of such other Company under the attached bond or as to any Employee.
7. In the absence of a request from any of said Companies that notice of termination or cancellation by the Insured of the attached bond in its entirety be given to or filed directly with it, the giving of such notice in accordance with the terms of the attached bond to the Controlling Company shall terminate or cancel the liability of all of said Companies as an entirety. The Insured may terminate or cancel the entire liability of any Company, other than the Controlling Company, under the attached bond by giving notice of such termination or cancellation to such other Company, and shall send copy of such notice to the Controlling Company.

This rider/endorsement, which forms part of and is for attachment to the following described bond/policy issued by the designated Underwriter/Company takes effect on the effective date of said bond/policy, unless another effective date is shown below, at the hour stated in said bond/policy and expires concurrently with said bond/policy.

Must Be Completed

| Rider/Endorsement No. | Policy No. |
| --- | --- |
| 11 | 1699068559 |

Complete only when this rider/endorsement is not prepared with the bond/policy or is not to be effective with the bond/policy

| Issued to: | Effective date of |
| --- | --- |
| SEI Investments Management Corporation | this rider/endorsement 8/19/2022 |

8. In the event of the termination or cancellation of the attached bond as an entirety, no Company shall be liable to the Insured for a greater proportion of any return premium due the Insured

CNA
For All the Commitments You Make®

Countersigned by

Authorized _________________

Representative

SR-5261b
(ED. 10/87)

Page 1

than the amount underwritten by such Company bears to the Aggregate Limit of Liability of the attached bond.

9. In the event of the termination or cancellation of the attached bond as to any Company, such Company alone shall be liable to the Insured for any return premium due the Insured on account of such termination or cancellation. The termination or cancellation of the attached bond as to any Company other than the Controlling Company shall not terminate, cancel or otherwise affect the liability of the other Companies under the attached bond.

Underwritten for the sum of $12,000,000

except as follows:
N/A

Controlling Company
Continental Insurance Company

By: \_\_\_\_\_

Underwritten for the sum of $8,800,000
except as follows: N/A

ACE American Insurance Company

By \_\_\_\_\_

Axis Insurance Company

Underwritten for the sum of $8,800,000
except as follows: N/A

By: \_\_\_\_\_

This rider/endorsement, which forms part of and is for attachment to the following described bond/policy issued by the designated Underwriter/Company takes effect on the effective date of said bond/policy, unless another effective date is shown below, at the hour stated in said bond/policy and expires concurrently with said bond/policy.

Must Be Completed

| Rider/Endorsement No. | Policy No. |
| --- | --- |
| 11 | 1699068559 |

Complete only when this rider/endorsement is not prepared with the bond/policy or is not to be effective with the bond/policy

| Issued to: | Effective date of |
| --- | --- |
| SEI Investments Management Corporation | this rider/endorsement 8/19/2022 |

of 3

CNA
For All the Commitments You Make®

Countersigned by

Authorized

Representative

SR-5261b
(ED. 10/87)

Page 2

Underwritten for the sum of $10,400,000 except
as follows:
N/A

Everest Insurance Company

By:

Accepted:

By:

**COSURETY RIDER**
FOR USE WITH ALL FORMS OF STANDARD BONDS. REVISED
TO OCTOBER, 1987.

This rider/endorsement, which forms part of and is for attachment to the following described bond/policy issued by the designated Underwriter/Company takes effect on the effective date of said bond/policy, unless another effective date is shown below, at the hour stated in said bond/policy and expires concurrently with said bond/policy.

| Must Be Completed |  |
| --- | --- |
| Rider/Endorsement No. | Policy No. |
| 11 | 1699068559 |

| Complete only when this rider/endorsement is not prepared with the bond/policy or is not to be effective with the bond/policy |  |
| --- | --- |
| Issued to: | Effective date of this rider/endorsement |
| SEI Investments Management Corporation | 8/19/2022 |

**CNA**
For All the Commitments You Make®

Countersigned by

Authorized _________________

Representative

SR-5261b
(ED. 10/87)

Page 3

# **SEI Investments Management Corporation**  
**LIBERALIZATION RIDER**

It is understood and agreed that the following is added to this Bond:

# - • **LIBERALIZATION**

In the event that this Bond does not offer coverage coextensive to that provided by Policy No. 169906855 issued by the Insurer or an affiliate of the Insurer for the policy period 8/19/2020 to 8/19/2021 then this Bond shall be deemed amended to provide coverage as broad as that provided by such policy. The benefit of any such broadened coverage shall inure to the benefit of the Insured as if a substitution of this Bond had been made for the provisions of Policy No. 169906855 issued by the Insurer or an affiliate of the Insurer for the policy period 8/19/2020 to 8/19/2021.

However, under no circumstances shall the Limit of Liability, Bond Period and the Named Insured as provided by this Bond be subject to the terms of this Liberalization provision. In addition, this endorsement applies to this Bond Period term only and should this Bond be renewed, then this endorsement shall not be included by the Insurer for any such subsequent renewal.

All other terms and conditions of the Bond remain unchanged.

| This rider, which forms a part of and is for attachment to the Bond issued by the designated Insurers, takes effect on the effective date of said Bond at the hour stated in said Bond, unless another effective date is shown below, and expires concurrently with said Bond. |
| --- |

---

CNA95964XX  
Page 1  
Continental Insurance Company  
Insured Name: SEI Investments Management Corporation

Policy No: 169906855  
Endorsement No: 12  
Effective Date: 8/19/2022