The program allows investors to realize losses by moving assets from an SEI Mutual Fund portfolio into a newly designed tax allocation portfolio, which will also be comprised of SEI funds. It will allow investors to realize losses to offset capital gains incurred in 2001 and ordinary income up to $3,000, according to SEI.
The program is particularly timely because year end tax issues will soon be a priority for advisers and their clients, particularly in light of the market downturn, said Carmen Romeo, executive VP at SEI. The Tax-Loss Harvesting program focuses specifically on the U.S. equity portion of an investors portfolio to decrease capital gains distributions, according to the company.
