SEI Reports Second-Quarter 2024 Financial Results
SEI Investments Company (NASDAQ:SEIC) reported strong financial results for Q2 2024. Diluted earnings per share increased to $1.05, up 18% from $0.89 in Q2 2023. Revenues grew 6% to $518.99 million, while net income rose 17% to $139.12 million. The company saw significant growth in its Investment Managers segment, with revenues up 13% and operating profit increasing 22%.
CEO Ryan Hicke highlighted the company's focus on capital allocation, operational leverage, and revenue growth. SEI is investing in areas such as talent, professional services, innovation, private assets, and emerging technology. The company also reported strong momentum across its markets, particularly in the adoption of its platforms in technology and operational businesses.
La SEI Investments Company (NASDAQ:SEIC) ha riportato risultati finanziari solidi per il secondo trimestre del 2024. Gli utili per azione diluiti sono aumentati a $1.05, con un incremento del 18% rispetto a $0.89 nel secondo trimestre del 2023. I ricavi sono cresciuti del 6% raggiungendo $518.99 milioni, mentre il reddito netto è salito del 17% a $139.12 milioni. L'azienda ha registrato una significativa crescita nel segmento dei Gestori di Investimenti, con i ricavi aumentati del 13% e l'utile operativo in crescita del 22%.
Il CEO Ryan Hicke ha sottolineato l'attenzione dell'azienda sulla allocazione del capitale, la leva operativa e la crescita dei ricavi. SEI sta investendo in aree come il talento, i servizi professionali, l'innovazione, gli attivi privati e la tecnologia emergente. L'azienda ha anche riportato una forte spinta in tutti i suoi mercati, in particolare nell'adozione delle sue piattaforme nei settori tecnologico e operativo.
SEI Investments Company (NASDAQ:SEIC) informó sobre resultados financieros sólidos para el segundo trimestre de 2024. Las ganancias por acción diluidas aumentaron a $1.05, un 18% más que $0.89 en el segundo trimestre de 2023. Los ingresos crecieron un 6% hasta alcanzar $518.99 millones, mientras que el ingreso neto se elevó un 17% a $139.12 millones. La compañía experimentó un crecimiento significativo en su segmento de Administradores de Inversiones, con ingresos que aumentaron un 13% y una utilidad operativa que creció un 22%.
El CEO Ryan Hicke destacó el enfoque de la empresa en la asignación de capital, la palanca operativa y el crecimiento de ingresos. SEI está invirtiendo en áreas como talento, servicios profesionales, innovación, activos privados y tecnología emergente. La empresa también reportó un fuerte impulso en todos sus mercados, en particular en la adopción de sus plataformas en negocios tecnológicos y operativos.
SEI Investments Company (NASDAQ:SEIC)는 2024년 2분기 강력한 재무 실적을 보고했습니다. 희석 주당 순이익이 $1.05로 증가하여 2023년 2분기의 $0.89 대비 18% 상승했습니다. 수익은 6% 증가하여 $518.99 백만에 달했으며, 순이익은 17% 증가하여 $139.12 백만에 이르렀습니다. 회사는 투자 관리자 부문에서 수익이 13% 증가하고 운영 이익이 22% 증가하는 등 상당한 성장을 보였습니다.
CEO Ryan Hicke는 자본 배분, 운영 레버리지 및 수익 성장에 대한 회사의 초점을 강조했습니다. SEI는 인재, 전문 서비스, 혁신, 개인 자산 및 신기술 분야에 투자하고 있습니다. 회사는 특히 정보 기술 및 운영 비즈니스 플랫폼의 채택에서 모든 시장에서 강력한 모멘텀을 보였습니다.
SEI Investments Company (NASDAQ:SEIC) a annoncé de solides résultats financiers pour le deuxième trimestre de 2024. Le bénéfice par action dilué a augmenté à 1,05 $, soit une hausse de 18 % par rapport à 0,89 $ au deuxième trimestre de 2023. Les revenus ont augmenté de 6 % pour atteindre 518,99 millions $, tandis que le revenu net a crû de 17 % pour atteindre 139,12 millions $. L'entreprise a connu une croissance significative dans son segment des gestionnaires d'investissements, avec des revenus en hausse de 13 % et un bénéfice d'exploitation en augmentation de 22 %.
Le PDG Ryan Hicke a souligné l'accent mis par l'entreprise sur l'allocation de capital, l'effet de levier opérationnel et la croissance des revenus. SEI investit dans des domaines tels que le talent, les services professionnels, l'innovation, les actifs privés et les technologies émergentes. L'entreprise a également signalé un solide élan sur tous ses marchés, notamment dans l'adoption de ses plateformes dans les secteurs technologique et opérationnel.
SEI Investments Company (NASDAQ:SEIC) hat für das zweite Quartal 2024 starke Finanzergebnisse gemeldet. Der verwässerte Gewinn pro Aktie stieg auf $1.05, was einem Anstieg von 18% gegenüber $0.89 im zweiten Quartal 2023 entspricht. Die Einnahmen wuchsen um 6% auf $518.99 Millionen, während der Nettogewinn um 17% auf $139.12 Millionen anstieg. Das Unternehmen verzeichnete ein signifikantes Wachstum im Segment der Investmentmanager, mit einem Umsatzanstieg von 13% und einem operativen Gewinn, der um 22% zunahm.
CEO Ryan Hicke hob den Fokus des Unternehmens auf Kapitalallokation, operative Hebelung und Umsatzwachstum hervor. SEI investiert in Bereiche wie Talent, professionelle Dienstleistungen, Innovation, private Vermögenswerte und neue Technologien. Das Unternehmen berichtete auch von starkem Schwung in allen Märkten, insbesondere bei der Nutzung seiner Plattformen in Technologie- und Betriebsunternehmen.
- Diluted earnings per share increased 18% year-over-year to $1.05
- Revenues grew 6% to $518.99 million in Q2 2024
- Net income rose 17% to $139.12 million
- Investment Managers segment saw 13% revenue growth and 22% operating profit increase
- Average assets under administration increased 16% to $1.0 trillion
- Net sales events in Private Banks and Investment Managers segments were $26.9 million
- Institutional Investors segment experienced a 5% decrease in revenues
- Investments in New Businesses segment reported an operating loss of $3.96 million
- Net sales events for asset management-related businesses were negative $5.6 million
Insights
SEI Investments Company's Q2 2024 results demonstrate solid financial performance and strategic growth. The company reported a 6% increase in revenues to
Key highlights include:
- Strong performance in the Investment Managers segment, with a
13% revenue increase and22% operating profit growth - Impressive growth in the Investment Advisors segment, showing a
10% revenue increase and14% operating profit growth - Resilience in the Private Banks segment, maintaining stable revenues while improving operating profit by
12%
The company's focus on operational leverage and revenue growth is yielding results, with particular success in platform adoption across technology and operational businesses. However, the Institutional Investors segment faced challenges, experiencing a
SEI's strategic investments in talent, professional services, innovation and emerging technologies position it well for future growth. The company's strong cash flow generation and ongoing share repurchase program (
While the overall picture is positive, investors should monitor the performance of the Institutional Investors segment and the impact of client losses in this area. The company's ability to continue cross-selling and attracting new clients in its growth segments will be important for maintaining this momentum.
SEI's Q2 2024 results reflect broader industry trends and highlight the company's strategic positioning in the financial services technology sector. The
Key market insights:
- The launch of the SEI Integrated Cash Program in December 2023 has quickly contributed
$10.1 million in fees, indicating strong market reception for innovative cash management solutions. - Positive cash flows into separately managed account programs and Strategist programs suggest a shift towards more personalized investment solutions.
- The
4% increase in average assets under management in equity and fixed income programs (excluding LSV) to$176.1 billion reflects overall market appreciation and investor confidence.
However, the negative cash flows from SEI fund programs and fee reductions in separately managed account programs point to ongoing fee pressure in the asset management industry. This trend is likely to continue as competition intensifies and investors seek lower-cost options.
The company's investment in new businesses and technologies, particularly in private assets and emerging tech, aligns with industry shifts towards alternative investments and digital transformation. The
Looking ahead, SEI's ability to capitalize on the growing demand for integrated technology solutions in wealth management and investment operations will be important for maintaining its competitive edge in a rapidly evolving financial services landscape.
Consolidated Overview | ||||||
(In thousands, except | For the Three Months | For the Six Months | ||||
2024 | 2023 | % | 2024 | 2023 | % | |
Revenues |
|
6 % |
|
|
8 % | |
Net income | 139,120 | 118,851 | 17 % | 270,520 | 225,866 | 20 % |
Diluted earnings per share | 18 % | 21 % | ||||
"Our second-quarter results reflect
"We are investing in areas we believe represent future growth opportunities, including talent, professional services, innovation, private assets, and emerging technology. Our people and the breadth of our capabilities set us apart in the industry, and we are uniquely positioned to capitalize on opportunities to deliver a world-class client experience and maximize return on invested capital for our stakeholders."
Summary of Second-Quarter Results by Business Segment | ||||||
(In thousands) | For the Three Months | For the Six Months | ||||
Private Banks: | 2024 | 2023 | % | 2024 | 2023 | % |
Revenues | — % | 4 % | ||||
Expenses | 111,890 | 114,165 | (2) % | 224,864 | 226,627 | (1) % |
Operating Profit | 20,511 | 18,249 | 12 % | 37,674 | 26,689 | 41 % |
Operating Margin | 15 % | 14 % | 14 % | 11 % | ||
Investment Advisors: | ||||||
Revenues |
120,587 |
109,580 |
10 % |
243,305 |
216,118 |
13 % |
Expenses | 68,953 | 64,178 | 7 % | 135,911 | 127,724 | 6 % |
Operating Profit | 51,634 | 45,402 | 14 % | 107,394 | 88,394 | 21 % |
Operating Margin | 43 % | 41 % | 44 % | 41 % | ||
Institutional Investors: | ||||||
Revenues |
71,507 |
75,145 |
(5) % |
143,285 |
149,435 |
(4) % |
Expenses | 38,426 | 45,516 | (16) % | 78,535 | 86,384 | (9) % |
Operating Profit | 33,081 | 29,629 | 12 % | 64,750 | 63,051 | 3 % |
Operating Margin | 46 % | 39 % | 45 % | 42 % | ||
Investment Managers: | ||||||
Revenues |
179,868 |
159,204 |
13 % |
352,521 |
313,701 |
12 % |
Expenses | 111,287 | 103,213 | 8 % | 220,837 | 204,898 | 8 % |
Operating Profit | 68,581 | 55,991 | 22 % | 131,684 | 108,803 | 21 % |
Operating Margin | 38 % | 35 % | 37 % | 35 % | ||
Investments in New Businesses: |
14,623 |
12,714 |
15 % |
28,916 |
25,606 |
13 % |
Revenues | ||||||
Expenses | 18,580 | 17,015 | 9 % | 36,963 | 34,654 | 7 % |
Operating Loss | (3,957) | (4,301) | NM | (8,047) | (9,048) | NM |
Totals: | ||||||
Revenues | 6 % | 8 % | ||||
Expenses | 349,136 | 344,087 | 1 % | 697,110 | 680,287 | 2 % |
Corporate Overhead Expenses | 33,336 | 32,369 | 3 % | 71,090 | 63,521 | 12 % |
Income from Operations | 21 % | 22 % | ||||
Second-Quarter Business Highlights:
- Revenues from Assets under management, administration, and distribution fees increased primarily from higher assets under administration due to cross sales to existing alternative investment clients of the Investment Managers segment as well as new sales in the segment. Additionally, second-quarter 2024 revenues included fees of
$10.1 million - Market appreciation and positive cash flows into separately managed account programs and Strategist programs of the Investment Advisors segment also contributed to the increase in revenues. This was partially offset by negative cash flows from SEI fund programs and fee reductions in separately managed account programs. Revenue growth was also partially offset by client losses in the Institutional Investors segment.
- Average assets under administration increased
$141.8 billion 16% , to$1.0 trillion $863.6 billion - Average assets under management in equity and fixed income programs, excluding LSV, increased
$7.1 billion 4% , to$176.1 billion $169.0 billion - Revenues from Information processing and software servicing fees increased from new client conversions and growth from existing SEI Wealth PlatformSM (SWP) clients. A one-time early contractual buyout fee of
$10.5 million - Net sales events in the Private Banks and Investment Managers segments during the second- quarter 2024 were
$26.9 million $21.5 million - Net sales events in asset management-related businesses of the Investment Advisors and Institutional Investors segments and the Asset Management Distribution (AMD) business in the Private Banks segment during the second-quarter 2024 were negative
$5.6 million - Net sales events for newer initiatives, which includes SEI Family Office Services, SEI Private Wealth Management and SEI Sphere, were
$674 thousand - The increase in operational expenses was due to higher personnel costs from business growth, primarily in the Investment Managers segment, and the impact of inflation on wages and services. Cost containment measures related to consulting and other vendor costs partially offset the increase in operating expenses during the second-quarter 2024.
- Earnings from LSV increased to
$34.2 million $32.7 million - Capitalized software development costs were
$6.4 million $3.9 million $2.5 million - Effective tax rates were
23.9% in the second-quarter 2024 and23.4% in the second-quarter 2023. - Repurchased shares of SEI common stock were 1.6 million for
$111.2 million $67.44 - Cash flow from operations was
$114.7 million $100.6 million
Earnings Conference Call
A conference call to review earnings is scheduled for 4:30 p.m. Eastern time on July 24, 2024. Investors may listen to the call at seic.com/ir-events. Investors may also listen to a replay by telephone at (
About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of June 30, 2024, SEI manages, advises, or administers approximately
This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "expect," "believe" and "continue" or "appear." Our forward-looking statements include our current expectations as to:• the momentum generated across our markets;
- the adoption of our platforms in our technology and operational businesses;
- the areas in which we invest and the degree to which these areas represent growth opportunities;
- whether we are positioned to capitalize on opportunities to deliver a world-class client experience and maximize return on invested capital for our stakeholders; and
- when and if we will generate net annualized recurring revenues from sales events that occurred during the quarter, as well as the amount of any such revenue.
We anticipate that we may deliver forward-looking statements during today's earnings call that include our current expectations as to the matters in this release and set forth above as well as:
- our strategic priorities and the strength of our execution against these priorities;
- the elements of our optimization focus;
- our investment priorities;
- platform adoption in the RIA space;
- the expansion opportunities available to us in the markets in which we currently, and seek to, participate;
- the opportunities and benefits our Artificial Intelligence initiatives may afford us;
- opportunities for earnings growth;
- the degree to which we are proactively addressing industry headwinds and capitalizing on tailwinds to position ourselves for long-term success;
- whether the shift in market preference in product types, asset allocation, and investment choice presents opportunity;
- if we are positioned to expand our footprint and capitalize on the trend across technology, operations and asset management towards private assets;
- the opportunity for our Professional Services offering;
- the degree to which we are well-positioned to drive growth and continue delivering value for our shareholders;
- whether we will build upon our success;
- the strength of our pipelines;
- our momentum in helping RIAs achieve scale and business growth;
- our ability to execute against our strategic priorities;
- our ability to align our cost structure to talent and the benefits of such alignment;
- the benefits we will derive from the businesses and/or assets we acquire and our ability to successful integrate these assets in order to drive the expected benefits, strategic and otherwise;
- the headwinds our businesses face and our ability to respond to these headwinds;
- the amount, if any, of our current backlog of sold but expected to be installed revenue and recurring revenue in the next 18 months that will actually be installed during such period, if ever;
- the amount, if any, of recurring revenue that will be generated by our net sales;
- the strength of our second half sales events and the benefits of such events;
- our momentum in helping RIAs achieve scale, business growth, and value creation for their clients;
- the degree to which our enterprise approach and availing more capabilities to increase AUA, AUM and Services revenue will create greater shareholder value;
- the market dynamics affecting our market units; and
- our tax rate for the remainder of 2024.
You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe the assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended Dec. 31, 2023, filed with the Securities and Exchange Commission.
SEI INVESTMENTS COMPANY | ||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||
(In thousands, except per share data) | ||||
(Unaudited) | ||||
For the Three Months | For the Six Months | |||
2024 | 2023 | 2024 | 2023 | |
Asset management, admin. and distribution fees |
|
|
|
|
Information processing and software servicing fees | 109,588 | 110,236 | 216,801 | 207,526 |
Total revenues |
518,986 |
489,057 |
1,030,565 |
958,176 |
Subadvisory, distribution and other asset mgmt. costs | 46,542 | 47,247 | 93,310 | 94,626 |
Software royalties and other information processing costs | 8,096 | 8,396 | 16,567 | 15,689 |
Compensation, benefits and other personnel | 185,878 | 175,706 | 378,794 | 349,121 |
Stock-based compensation | 12,469 | 7,405 | 23,528 | 15,479 |
Consulting, outsourcing and professional fees | 53,991 | 61,312 | 105,967 | 122,416 |
Data processing and computer related | 38,074 | 34,945 | 75,234 | 68,285 |
Facilities, supplies and other costs | 18,570 | 23,034 | 37,173 | 41,826 |
Amortization | 10,485 | 9,630 | 20,871 | 19,054 |
Depreciation | 8,367 | 8,781 | 16,756 | 17,312 |
Total expenses |
382,472 |
376,456 |
768,200 |
743,808 |
Income from operations | 136,514 | 112,601 | 262,365 | 214,368 |
Net gain from investments | 666 | 515 | 2,922 | 1,259 |
Interest and dividend income | 11,552 | 9,550 | 22,371 | 18,328 |
Interest expense | (139) | (139) | (278) | (280) |
Equity in earnings of unconsolidated affiliate | 34,219 | 32,711 | 65,862 | 61,590 |
Income before income taxes |
182,812 |
155,238 |
353,242 |
295,265 |
Income taxes | 43,692 | 36,387 | 82,722 | 69,399 |
Net income |
|
|
|
|
Basic earnings per common share |
|
|
|
|
Shares used to calculate basic earnings per share |
130,815 |
132,854 |
131,116 |
133,437 |
Diluted earnings per common share |
|
|
|
|
Shares used to calculate diluted earnings per share |
132,073 |
133,936 |
132,409 |
134,623 |
Dividends declared per common share |
|
|
|
|
SEI INVESTMENTS COMPANY | |||
CONSOLIDATED BALANCE SHEETS | |||
(In thousands) | |||
(Unaudited) | |||
June 30, | December 31, | ||
Assets Current Assets: | |||
Cash and cash equivalents | |||
Restricted cash | 301 | 301 | |
Receivables from investment products | 47,963 | 55,886 | |
Receivables, net of allowance for doubtful accounts of | 589,708 | 501,434 | |
Securities owned | 30,338 | 31,334 | |
Other current assets | 61,472 | 54,464 | |
Total Current Assets | 1,498,073 | 1,478,116 | |
Property and Equipment, net of accumulated depreciation of |
167,563 |
171,364 | |
Operating Lease Right-of-Use Assets | 30,564 | 22,477 | |
Capitalized Software, net of accumulated amortization of | 238,559 | 239,783 | |
Available for Sale and Equity Securities | 176,949 | 155,413 | |
Investments in Affiliated Funds, at fair value | 7,737 | 7,316 | |
Investment in Unconsolidated Affiliate | 53,223 | 110,781 | |
Goodwill | 137,254 | 137,333 | |
Intangible Assets, net of accumulated amortization of | 75,409 | 82,443 | |
Deferred Contract Costs | 39,975 | 40,221 | |
Deferred Income Taxes | 52,847 | 37,709 | |
Other Assets, net | 50,912 | 37,047 | |
Total Assets | |||
Liabilities and Equity | |||
Current Liabilities: | |||
Accounts payable | |||
Accrued liabilities | 208,122 | 318,945 | |
Current portion of long-term operating lease liabilities | 7,613 | 8,118 | |
Deferred revenue | 12,197 | 15,366 | |
Total Current Liabilities | 237,131 | 353,047 | |
Long-term Income Taxes Payable | 803 | 803 | |
Long-term Operating Lease Liabilities | 25,469 | 17,235 | |
Other Long-term Liabilities | 18,159 | 17,090 | |
Total Liabilities | 281,562 | 388,175 | |
Shareholders' Equity: | |||
Common stock, |
1,299 |
1,312 | |
Capital in excess of par value | 1,465,037 | 1,404,962 | |
Retained earnings | 823,549 | 762,586 | |
Accumulated other comprehensive loss, net | (42,382) | (37,032) | |
Total Shareholders' Equity | 2,247,503 | 2,131,828 | |
Total Liabilities and Shareholders' Equity | |||
ENDING ASSET BALANCES | |||||
(In millions) (Unaudited) | |||||
Jun. 30, 2023 | Sept. 30, 2023 | Dec. 31, 2023 | Mar. 31, 2024 | Jun. 30, 2024 | |
Private Banks: Equity and fixed-income programs |
|
|
|
|
|
Collective trust fund programs | 7 | 6 | 4 | 5 | 5 |
Liquidity funds | 3,433 | 3,636 | 3,916 | 2,733 | 2,699 |
Total assets under management | |||||
Client assets under administration | 4,154 | 4,399 | 7,267 | 8,024 | 7,813 |
Total assets | |||||
Investment Advisors: Equity and fixed-income programs |
|
|
|
|
|
Liquidity funds | 4,968 | 5,175 | 4,812 | 4,722 | 4,301 |
Total Platform assets under management | |||||
Platform-only assets | 16,103 | 16,232 | 18,324 | 20,516 | 21,908 |
Platform-only assets-deposit program | — | — | 843 | 897 | 894 |
Total Platform assets | |||||
Institutional Investors: Equity and fixed-income programs |
|
|
|
|
|
Collective trust fund programs | 4 | 4 | 1 | 1 | 1 |
Liquidity funds | 1,353 | 2,119 | 1,734 | 2,179 | 2,309 |
Total assets under management | |||||
Client assets under advisement | 4,368 | 4,085 | 6,120 | 6,862 | 7,886 |
Total assets | |||||
Investment Managers: Collective trust fund programs (A) |
|
|
|
|
|
Liquidity funds | 249 | 180 | 114 | 202 | 221 |
Total assets under management | |||||
Client assets under administration | 857,801 | 871,385 | 920,757 | 959,904 | 998,315 |
Total assets | |||||
Investments in New Businesses: |
|
|
|
|
|
Liquidity funds | 217 | 202 | 209 | 223 | 631 |
Total assets under management | |||||
Client assets under advisement | 1,098 | 1,070 | 1,150 | 1,248 | 1,886 |
Client assets under administration | 15,769 | 14,997 | 14,807 | 15,411 | 14,848 |
Total assets | |||||
LSV Asset Management: Equity and fixed-income programs (B) |
|
|
|
|
|
Total: Equity and fixed-income programs (C) |
|
|
|
|
|
Collective trust fund programs | 149,790 | 147,001 | 156,381 | 161,666 | 192,753 |
Liquidity funds | 10,220 | 11,312 | 10,785 | 10,059 | 10,161 |
Total assets under management | |||||
Client assets under advisement | 5,466 | 5,155 | 7,270 | 8,110 | 9,772 |
Client assets under administration (D) | 877,724 | 890,781 | 942,831 | 983,339 | 1,020,976 |
Platform-only assets | 16,103 | 16,232 | 19,167 | 21,413 | 22,802 |
Total assets | |||||
(A) Collective trust fund program assets in the Investment Managers segment are included in assets under management since |
(B) Equity and fixed-income programs include |
(C) Equity and fixed-income programs include |
(D) In addition to the assets presented, SEI also administers an additional |
AVERAGE ASSET BALANCES | |||||
(In millions) (Unaudited) | |||||
2nd Qtr. 2023 | 3rd Qtr. 2023 | 4th Qtr. 2023 | 1st Qtr. 2024 | 2nd Qtr. 2024 | |
Private Banks: Equity and fixed-income programs |
|
|
|
|
|
Collective trust fund programs | 7 | 6 | 5 | 4 | 5 |
Liquidity funds | 3,500 | 3,585 | 3,808 | 3,902 | 2,734 |
Total assets under management | |||||
Client assets under administration | 4,282 | 4,221 | 7,083 | 7,753 | 7,884 |
Total assets | |||||
Investment Advisors: Equity and fixed-income programs |
|
|
|
|
|
Liquidity funds | 4,808 | 4,990 | 5,046 | 4,649 | 4,348 |
Total Platform assets under management | |||||
Platform-only assets | 15,548 | 16,544 | 17,201 | 19,198 | 20,897 |
Platform-only assets-deposit program | — | — | 281 | 849 | 886 |
Total Platform assets | |||||
Institutional Investors: Equity and fixed-income programs |
|
|
|
|
|
Collective trust fund programs | 4 | 4 | 3 | 1 | 1 |
Liquidity funds | 1,537 | 1,611 | 1,682 | 1,812 | 1,893 |
Total assets under management | |||||
Client assets under advisement | 4,583 | 4,294 | 4,607 | 6,498 | 7,508 |
Total assets | |||||
Investment Managers: Collective trust fund programs (A) |
|
|
|
|
|
Liquidity funds | 286 | 237 | 205 | 207 | 227 |
Total assets under management | |||||
Client assets under administration | 843,065 | 873,821 | 901,487 | 938,804 | 982,806 |
Total assets | |||||
Investments in New Businesses: |
|
|
|
|
|
Liquidity funds | 199 | 211 | 197 | 214 | 471 |
Total assets under management | |||||
Client assets under advisement | 1,075 | 1,101 | 1,080 | 1,194 | 2,014 |
Client assets under administration | 16,231 | 15,682 | 14,781 | 15,147 | 14,713 |
Total assets | |||||
LSV Asset Management: Equity and fixed-income programs (B) |
|
|
|
|
|
Total: Equity and fixed-income programs (C) |
|
|
|
|
|
Collective trust fund programs | 147,554 | 150,389 | 149,559 | 156,742 | 189,890 |
Liquidity funds | 10,330 | 10,634 | 10,938 | 10,784 | 9,673 |
Total assets under management | |||||
Client assets under advisement | 5,658 | 5,395 | 5,687 | 7,692 | 9,522 |
Client assets under administration (D) | 863,578 | 893,724 | 923,351 | 961,704 | 1,005,403 |
Platform-only assets | 15,548 | 16,544 | 17,482 | 20,047 | 21,783 |
Total assets | |||||
(A) | Collective trust fund program average assets in the Investment Managers segment are included in assets under management since SEI is the trustee. Fees earned on this product are less than fees earned on customized asset management programs. |
(B) | Equity and fixed-income programs during second-quarter 2024 include |
(C) | Equity and fixed-income programs include |
(D) | In addition to the assets presented, SEI also administers an additional |
Investor/media contact:
Leslie Wojcik
SEI
+1 610-676-4191
lwojcik@seic.com
View original content:https://www.prnewswire.com/news-releases/sei-reports-second-quarter-2024-financial-results-302205855.html
SOURCE SEI Investments Company
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