Yes, you can configure in the LiveUpdate policy in 11.x. Have a look in the policy to see what works best for your environment.

Configuring the LiveUpdate download schedule for client computers

http://www.symantec.com/business/support/index?page=content&id=HOWTO81001

Randomizing content downloads from a LiveUpdate server

http://www.symantec.com/business/support/index?page=content&id=HOWTO80890

Managing content updates

http://www.symantec.com/business/support/index?page=content&id=HOWTO80884

with SEPM, you can only control heart beat, heart beat is when the clients talk to manager for updates.

Randomizing content is for clients who are downloading updates from ineternet.

if you are having mutliple groups, then set a differnet heartbeat policy for them.

or push the updates to all of these clients using altiris.

You can configure this for the SEPM (server) under

Admin > Servers > Local Site > Edit Site Properties > LiveUpdate

There are two important settings for you:

• Download schedule (default: 4 hours). As Symantec is sending about 3 definition packages per day, this is a reasonable setting in most cases.

• Disk Space Management for Downloads (default setting depends on size of your environment). That's the number of the saved definition packages ("content") on the SEPM. SEPM needs these packages to create incremental small delta packages that saves much bandwidth. For instance, to cover a week you should save 21 (3 * 7) packages. If the number of the packages is small (e.g., 3), many clients will download the full definition package (~ 200 MB) instead of delta files (which can be smaller than 1 MB). That's a common reason for overstrained networks. However, 21 packages will take about 25 GB of disk space. But 3 packages aren't even covering a weekend.

The schedule for clients in the LiveUpdate policy (Clients > [Group] > Policies > LU > Schedule) only affects clients updating from external (internet) or internal (LiveUpdate Administrator) sources but it's not relevant if the clients get their content from their SEPMs.

After a SEPM has updated itself, the clients will automatically get the new definitions the next time they check in. This is controlled by communication settings (push/pull mode, heartbeat interval). See this article:

Configuring push mode or pull mode to update client policies and content

http://www.symantec.com/docs/HOWTO55197

Hello,

You could configure Liveupdates for SEPM and SEP clients both from SEPM.

I would suggest a check on these Articles:

How to update virus definitions and other content with Symantec Endpoint Protection and Symantec Network Access Control

http://www.symantec.com/docs/TECH102467

Configuring the LiveUpdate download schedule for Symantec Endpoint Protection Manager

http://www.symantec.com/docs/HOWTO54810

Symantec Endpoint Protection Manager - LiveUpdate - Policies explained 

http://www.symantec.com/docs/TECH104435

Also Check this Thread and check solution - 

https://www-secure.symantec.com/connect/forums/system-running-slow

Hope that helps!!

Please refer following thread...