SEI Investments yesterday released its second quarter 2006 results, which showed overall net income up 31 per cent year-on-year to $57.9 mil...

SEI Investments yesterday released its second quarter 2006 results, which showed overall net income up 31 per cent year-on-year to $57.9 million. The firm’s wealth management operations are broken down into private bank and trust, as well as investment advisor businesses. These showed mixed results with the private bank and trust business recording an operating profit of $24.4 million in the second quarter, a 3 per cent fall on a year-on-year basis. The group’s investment advisor business saw operating profits at $26.2 million, a 4 per cent fall on the figure a year ago. Assets under management grew by $1.6 billion during the second quarter to $161.7 billion.