MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, January 29, 2009 A Fund Outsourcer's AUM Falls By $27.5 Billion SEI Investments is the latest firm to report feeling the market pain. On Thursday the Oaks, Pennsylvania-based fund outsourcer revealed a $27.5 billion quarterly drop in assets under management, to $134.3 billion on December 31. SEI's client assets under administration also fell $22 billion to $234.6 billion. Yet its investment management division's profit and margin actually rose year-over-year. "The severe downturn in the capital markets made the fourth-quarter a particularly challenging one and had a significant negative impact on both our quarterly and annual results," stated chairman and CEO Alfred P. West, Jr.. Profits from investment management rose eight percent from $11.492 million in 4Q07 to $12.430 million in 4Q08, even as revenue declined. Printed from: MFWire.com/story.asp?s=20600 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |