SEI Canada Makes Changes in Risk Ratings Français
After conducting its regular annual review, SEI Canada has changed the risk ratings for specific classes of the funds listed below, which are disclosed in the Fund Facts and the Funds' Simplified Prospectus dated June 26, 2025.
No changes were made to the investment objectives or strategies of these funds. Additional information regarding the risk rating methodology, as well as the investment objectives and strategies of each fund, can be found in the prospectus referenced above.
About SEI Canada
Founded in 1983, SEI's Canadian business offers integrated investment management and strategic advice solutions to help institutional investors and intermediaries achieve their organizational goals and fulfill fiduciary responsibilities. SEI's investment approach provides multi-manager, globally diversified strategies with an appropriate home-country bias for Canadian retail investors. SEI's goals-based strategies, strategic asset allocation strategies, and asset class funds are available through select dealer relationships. For more information, visit seic.com/en-CA.
About SEI ®
SEI (NASDAQ:SEIC) is a leading global provider of financial technology, operations, and asset management services within the financial services industry. SEI tailors its solutions and services to help clients more effectively deploy their capital—whether that's money, time, or talent—so they can better serve their clients and achieve their growth objectives. As of March 31, 2025, SEI manages, advises, or administers approximately $1.6 trillion in assets. For more information, visit seic.com.
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The Province
29 minutes ago
- The Province
B.C. hits LNG milestone with first export shipment from Kitimat. What's next?
First conceived of during different times, LNG Canada's first export shipment arrives just in time to fit Canada's political imperative to diversify trade away from the U.S. First conceived of during different times, LNG Canada's first export shipment arrives just in time to fit Canada's political imperative to diversify trade away from the U.S. Photo by rob trendiak photography B.C.'s energy sector hit a milestone this week with the first export shipment of liquefied natural gas from LNG Canada's mammoth new, $18-billion plant at Kitimat. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors The 291-metre-long LNG tanker GasLog Glasgow departed the north coast port Monday, capping off almost seven years of construction to build what has been billed as the country's biggest-ever private-sector investment at $40 billion in total, which includes $14.5 billion for the 670-kilometre pipeline from Dawson Creek to Kitimat. First conceived more than a decade ago during an earlier frenzy of speculation around the potential for a B.C. LNG industry, its completion coincides with a renewed imperative to diversify Canadian trade in light of U.S. President Donald Trump's tariff threats. Another of B.C.'s LNG hopefuls, Woodfibre LNG CEO Luke Schauerte viewed the event as being 'transformative for LNG Canada (and) transformative for B.C. LNG.' Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'I think it's a market that we're absolutely part of the global energy exporter business for LNG,' Schauerte said. 'And it's providing that diversification in international markets that's so incredibly needed right now.' If all goes to plan, Woodfibre LNG, under construction at the old Woodfibre pulp mill site south of Squamish on Howe Sound, will join LNG Canada in exporting gas sometime in 2027. How much LNG is the GasLog Glasgow taking to market? LNG Canada doesn't disclose details about the 'details and ownership' of cargoes, according to a statement from a company spokesperson, but the plant's two production units, referred to in the industry as 'trains', are designed to produce 14 million tonnes of LNG a year. This advertisement has not loaded yet, but your article continues below. When in full production, LNG Canada estimates it will export 170 to 175 shipments per year, which will mean a vessel will leave the Kitimat terminal almost every other day. Where is first LNG shipment going? That is another detail LNG Canada isn't making public, but the shipping-traffic website Marine Traffic indicates that the GasLog Glasgow is on its way to Incheon, South Korea, where it is estimated to arrive on July 20 as its first stop. Korea's gas utility Kogas is one of the minority partners in the LNG Canada consortium, along with Japan's Mitsubishi Corp. and PetroChina. Major petroleum producer Shell holds a 40-per-cent stake, and Malaysian state-owned Petronas is the next biggest owner. Both are major producers of natural gas in B.C.'s Montney Shale region in the province's northeast. This advertisement has not loaded yet, but your article continues below. The first version of LNG Canada's consortium submitted its application to export LNG to what was then known as the National Energy Board almost 15 years ago and received its export permit in February of 2013. The permit, which allowed for a plant to export 670 million tonnes of LNG over 25 years, touched off the development process, which involved an environmental review and benefit agreement with the Haisla First Nation. It took until September of 2018 for the LNG Canada consortium to reach a final investment decision. What are the political expectations now? LNG exports remain controversial over how they will contribute to B.C.'s carbon footprint, at a time when the province is attempting to reduce carbon emissions under its CleanBC program. This advertisement has not loaded yet, but your article continues below. Politicians, however, reached for superlatives that leaned on the diversification theme as they provided comments for the historic first shipment. 'At a time when B.C. jobs are under attack, it's more important than ever that we get our resources to global markets and reduce our reliance on the United States,' Premier David Eby said for LNG Canada's news release marking the event. Prime Minister Mark Carney remarked that LNG Canada's completion demonstrates that, 'Canada has what the world needs.' 'With LNG Canada's first shipment to Asia, Canada is exporting its energy to reliable partners, diversifying trade and reducing global emissions — all in partnership with Indigenous peoples.' LNG Canada is the first of five LNG projects at some form of development. Carney, in his statement, repeated his ambition that with its exports, 'Canada can become the world's leading energy superpower with the strongest economy in the G7.' This advertisement has not loaded yet, but your article continues below. Haisla First Nation Chief Crystal Smith said, 'Our people, our country and the world are better off today, and will be for decades to come,' with LNG Canada. She heralded the consortium's efforts to 'build a relationship first before ever considering building a project.' The Haisla's LNG Canada partnership helped set the stage for the Haisla Nation to take ownership of its own project, Cedar LNG, along with joint-venture partner Pembina Pipeline Corp. Also under construction, it is expected to be complete in 2028. At Woodfibre, Schauerte said that in the meantime, industry participants will be watching LNG Canada's export experience as it develops. 'What we'll learn is the appetite of the international market for our product, our low carbon-intensity product,' Schauerte said. Schauerte contended that the lower emissions-profile of B.C. LNG, along with shorter shipping times to Asia and Canada's reliability as a supplier will help B.C.'s producers find a place in the market. depenner@ Read More Vancouver Canucks Vancouver Canucks Vancouver Canucks Opinion News


National Observer
32 minutes ago
- National Observer
New supply management law can't save the system from Trump, experts say
A new law meant to protect supply management might not be enough to shield the system in trade talks with a Trump administration bent on eliminating it, trade experts say. "It's certainly more difficult to strike a deal with the United States now with the passage of this bill that basically forces Canada to negotiate with one hand tied behind its back," said William Pellerin, a trade lawyer and partner at the firm McMillan LLP. "Now that we've removed the digital service tax, dairy and supply management is probably the number 1 trade irritant that we have with the United States. That remains very much unresolved." When Trump briefly paused trade talks with Canada on June 27 over the digital services tax — shortly before Ottawa capitulated by dropping the tax — he zeroed in on Canada's system of supply management. In a social media post, Trump called Canada a "very difficult country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products." Canada can charge about 250 per cent tariffs on US dairy imports over a set quota established by the Canada-US-Mexico Agreement. The International Dairy Foods Association, which represents the US dairy industry, said in March the US has never come close to reaching those quotas, though the association also said that's because of other barriers Canada has erected. When Bill C-202 passed through Parliament last month, Bloc Québécois MPs hailed it as a clear win protecting Quebec farmers from American trade demands. The Bloc's bill, which received royal assent on June 26, prevents the foreign affairs minister from making commitments in trade negotiations to either increase the tariff rate quota or reduce tariffs for imports over a set threshold. On its face, that rule would prevent Canadian trade negotiators from offering to drop the import barriers that shield dairy and egg producers in Canada from price shocks. But while the law appears to rule out using supply management as a bargaining chip in trade talks with the US, it doesn't completely constrain the government. Pellerin said that if Prime Minister Mark Carney is seeking a way around C-202, he might start by looking into conducting the trade talks personally, instead of leaving them to Foreign Affairs Minister Anita Anand. Carney dismissed the need for the new law during the recent election but vowed to keep supply management off the table in negotiations with the US. Pellerin said the government could also address the trade irritant by expanding the number of players who can access dairy quotas beyond "processors." "(C-202) doesn't expressly talk about changing or modifying who would be able to access the quota," he said. Expanding access to quota, he said, would likely "lead to companies like grocery stores being able to import US cheeses, and that would probably please the United States to a significant degree." Carleton University associate professor Philippe Lagassé, an expert on Parliament and the Crown, said the new law doesn't extend past something called the "royal prerogative" — the ability of the executive branch of government to carry out certain actions in, for example, the conduct of foreign affairs. That suggests the government isn't constrained by the law, he said. "I have doubts that the royal prerogative has been displaced by the law. There is no specific language binding the Crown and it would appear to run contrary to the wider intent of the (law that it modifies)," he said by email. "That said, if the government believes that the law is binding, then it effectively is. As defenders of the bill insisted, it gives the government leverage in negotiation by giving the impression that Parliament has bound it on this issue." He said a trade treaty requires enabling legislation, so a new bill could remove the supply management constraints. "The bill adds an extra step and some constraints, but doesn't prevent supply management from eventually being removed or weakened," he said. Trade lawyer Mark Warner, principal at MAAW Law, said Canada could simply dispense with the law through Parliament if it decides it needs to make concessions to, for example, preserve the auto industry. "The argument for me that the government of Canada sits down with another country, particularly the United States, and says we can't negotiate that because Parliament has passed a bill — I have to tell you, I've never met an American trade official or lawyer who would take that seriously," Warner said. "My sense of this is it would just go through Parliament, unless you think other opposition parties would bring down the government over it." While supply management has long been a target for US trade negotiators, the idea of killing it has been a non-starter in Canadian politics for at least as long. Warner said any attempt to do away with it would be swiftly met with litigation, Charter challenges and provinces stepping up to fill a federal void. "The real cost of that sort of thing is political, so if you try to take it away, people are screaming and they're blocking the highways and they are calling you names and the Bloc is blocking anything through Parliament — you pay a cost that way," he said. But a compromise on supply management might not be that far-fetched. "The system itself won't be dismantled. I don't think that's anywhere near happening in the coming years and even decades," said Pellerin. "But I think that there are changes that could be made, particularly through the trade agreements, including by way of kind of further quotas. Further reduction in the tariffs for outside quota amounts and also in terms of who can actually bring in product." The United States trade representative raised specific concerns about supply management in the spring, citing quota rules established under the CUSMA trade pact that are not being applied as the US expected and ongoing frustration with the pricing of certain types of milk products. Former Canadian diplomat Louise Blais said that if Canada were to 'respect the spirit' of CUSMA as the Americans understand it, the problem might actually solve itself. 'We jump to the conclusion that it's dismantlement or nothing else, but in fact there's a middle ground," she said.


Vancouver Sun
an hour ago
- Vancouver Sun
'There's a fear of coming to America': B.C. to Washington state travel down five months in a row
Five months into the U.S.-Canada trade war and B.C. drivers are still travelling into Washington state far less often than they used to. Southbound crossings at the four main points of entry near Metro Vancouver were down 42.6 per cent in June compared with the same period last year, according to data collected by the B.C. Transportation Ministry and Washington state's Department of Transportation. It's the fifth straight month in which southbound crossings were down. 'We definitely are worried on how this difference in mindset has shifted tourism,' said Don Enos, vice-president of the Blaine Chamber of Commerce. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. He said he wasn't aware of local businesses laying off staff, but said they were 'definitely worried.' 'They're scaling based on traffic, so we haven't had any major hiring,' Enos said. 'Restaurants definitely could use more business. Gas stations … have had the heaviest hit.' Just over 118,000 B.C. cars entered Washington state at Metro Vancouver crossings in June — down from 206,000 over the same period last year. In the first half of this year there have been 413,000 fewer B.C. drivers crossing into Washington state compared with the same period last year. Enos said local businesses have been shifting resources to focus on and re-engage with local customers. 'We've opened our messaging into: 'Be neighbourly and support your neighbours' from a Blaine standpoint,' he said. Canada is the largest source of international visitors to the U.S., according to the U.S. Travel Association, which warned in February that a 10 per cent reduction in Canadian travel to the States could mean US$2.1 billion in lost spending and 14,000 job losses. U.S. President Donald Trump first announced tariffs on Canadian and Mexican goods in February and then-Prime Minister Justin Trudeau urged Canadians to spend domestically in response. 'Now is the time to choose Canada … It might mean changing your summer vacation plans to stay here in Canada and explore the many national and provincial parks, historical sites and tourist destinations our great country has to offer,' Trudeau said at the time. In early March, Premier David Eby doubled down, urging British Columbians to avoid travel to the U.S. 'If you have a choice about where to travel, avoid travelling to the United States,' he said. Border crossings from B.C. fell 50 per cent the following month. Canadian and U.S. officials are working toward a new trade agreement with hopes of a July 21 deadline but Enos thought worries about crossing the border were more likely to be turning away Canadian tourists than talk of tariffs and trade wars. 'There's a fear of coming to America,' he said. 'I think that's the bigger hurdle that we have to come over right now.' He pointed to the local waterpark , which just reopened after extensive renovations. It was intended to be a significant draw for B.C. tourists, something Enos said people were skeptical about now. 'It's a bummer, because it's beautiful. They've done a great job with the renovations,' he said. ngriffiths@