Collective Investment Trusts (CITs)

What is a collective investment trust (CIT)?

Collective investment trusts (CITs) are regulated institutional-only pooled investment vehicles maintained by a bank or trust company acting as a fiduciary. CITs allow certain qualified retirement plans to pool plan assets in a diversified investment vehicle with a specific philosophy and strategy. While CITs may pursue investment strategies comparable to those of mutual funds, they are structured exclusively for certain institutional and qualified-plan investors and are governed by a written declaration of trust rather than a prospectus. As compared to mutual funds, CITs generally have lower operating costs, fewer investment restrictions, and a highly adaptable industry infrastructure. Unlike mutual funds, CITs are not registered under the Investment Company Act of 1940, and interests in a CIT are not registered under the Securities Act of 1933. CITs are regulated primarily under the frameworks of banking and retirement laws.

Eligible Investors¹

CIT-Eligible Plans

Pension and profit-sharing plans qualified under Internal Revenue Code Section 401(a)
Corporate qualified retirement plans
Taft-Hartley plans (union or multi-employer plans)
Profit-sharing and cash balance plans
Governmental plans under Internal Revenue Code Section 414(d) or 457(b)
Insurance separate accounts consisting solely of assets in qualified retirement plans

Plans Not Currently Eligible for CITs

Individual retirement accounts (IRAs)
Voluntary employee beneficiary association plans
Internal Revenue Code Section 403(b) plans
Internal Revenue Code Section 457(f) plans
Endowments
Foundations
Non-qualified deferred compensation plans
Other post-employment benefit plans (OPEB): non-pension benefits paid to employees during their retirement years

¹ This may not be an exhaustive list and may change from time to time depending upon regulations and other factors.

Why Nomura CIT Funds?

Highly experienced asset management teams
Generally lower expense ratios than retail mutual funds with similar investment objectives
Daily liquidity and valuation generally available, subject to applicable CIT trust terms and conditions

SEI Trust Company (the “Trustee”) serves as the trustee to Nomura Collective Investment Trust and Nomura Collective Investment Trust II (each, a “Trust,” and collectively, the “Trusts”). The Trusts are managed by the Trustee, based on the investment advice of Nomura Investment Management Advisers (NIMA), a series of Nomura Investment Management Business Trust (NIMBT), the investment adviser to the Nomura CIT Funds. NIMA provides investment advice for a range of collective investment trust strategies to help plan sponsors meet their fiduciary obligations and help participants prepare for a more financially secure retirement.

Nomura CIT Funds

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Each Nomura CIT Fund is a series of the applicable Trust. The Trusts are regulated by the Pennsylvania Department of Banking and Securities. The Trustee is a trust company organized under the laws of the Commonwealth of Pennsylvania that provides trust and administrative services for collective investment trusts. The Trustee is a wholly-owned subsidiary of SEI Investments Company (NASDAQ: SEIC), a leading global provider of financial technology, operations, and asset management services within the financial services industry.

The Trustee maintains ultimate fiduciary authority over the management of, and investments made in, the Trusts, and is regulated and examined by the Pennsylvania Department of Banking and Securities. Investing in Nomura CIT Funds is limited to eligible investors only and is generally not available to IRAs, health and welfare plans and, in certain cases, Keogh (H.R. 10) plans. Investors should consider the investment objectives, risks, charges, and expenses of any pooled investment fund carefully before investing. The Trusts’ documents and other information are available for registered users on the SEI CIT Dashboard. For more information, contact the Nomura DC Investment Only team at 800-266-3816.

CITs may impose minimum initial and subsequent investment amounts, which are established by the trustee and disclosed in the applicable fund documentation.

Investing involves risk; principal loss is possible. CITs and their units are exempt from registration under federal and state securities laws. Units of CITs are not traded on public, or any other markets and are generally only transferable as detailed in the applicable trust documents.

Investments in CITs are not bank deposits or obligations of and are not insured or guaranteed by any bank, the FDIC, the Federal Reserve, or any other governmental agency. CITs are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in CITs.

This material is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any security or interest in any collective investment trust. Participation in CITs is offered solely to eligible investors pursuant to, and subject to the terms of, the respective trust documents and any applicable regulations which control in all respects.

Collective Investment Trusts (CITs)

What is a collective investment trust (CIT)?

Eligible Investors¹

CIT-Eligible Plans

Plans Not Currently Eligible for CITs

Why Nomura CIT Funds?

Nomura CIT Funds

Disclosures

Policies

Why Nomura CIT Funds?

Nomura CIT Funds

Disclosures

Policies

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Collective Investment Trusts (CITs)

What is a collective investment trust (CIT)?

Eligible Investors1

CIT-Eligible Plans

Plans Not Currently Eligible for CITs

Why Nomura CIT Funds?

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Nomura CIT Funds

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Why Nomura CIT Funds?

Nomura CIT Funds

Disclosures

Policies

Eligible Investors¹