US / UK - SEI Investments saw net income rise 16% during the fourth quarter, up to $33.2m compared to the 2000 figure of $28.6m.
Revenues during the fourth quarter were up 4% to $164.8m, compared with $158m from the year before. Total revenues were up by 10% during 2001, with SEI recording a $658m total compared to the $599m taken the previous year.
The “Enterprises” unit, which counts institutional retirement plans amongst its clients, saw revenue rise 8% to $15.8m. Over the year, Enterprises posted revenue of $64.5m, compared to $55m from the previous year.
Asset management produced excellent results for SEI over both the fourth quarter and the whole year. The business caters for US investment managers, mutual fund companies and alternative investment managers worldwide. Revenues grew 20% to $10.4m during the fourth quarter, while operating profits grew 91% to $2.3m over the same period in 2000. The operating margin for the fourth quarter was 22%, compared to 14% in 2000.
By Geoffrey Ho
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