Oaks, Pennsylvania-based SEI Investments reported first quarter earnings in line with analysts' expectations of $0.42 per diluted share, or total net income of $43.7 million.

Assets under management grew three percent in the first quarter, from $120.4 billion at the end of the year to $123.9 billion at the end of March.

From the same period last year, the money manager increased assets by nearly 30 percent, from $96.1 billion.

Revenues in SEI's Investment Advisors, Enterprises, Money Managers and New Businesses units grew compared to the same period last year, with profit margins for each unit remaining the same or slightly decreasing. Revenues in the firm's Private Banking and Trust unit decreased by three percent, from $74.6 million at the end of the year to $72.4 million at the end of March.  

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