SEI Investments beat the Street's estimates of its second quarter earnings by one penny. The Oaks, Pennsylvania-headquartered firm reported in $44.2 million net income, or 43 cents per diluted share.

Total assets under management totaled $130.7 billion at the end of the second quarter, an increase of $6.8 billion.

SEI's Money Manager unit, which provides administration for mutual funds, hedge fund and other asset managers, reported total assets under management of $8.3 billion, an increase of nearly six percent over the first quarter.

The Money Manager unit's total assets under administration totaled $139.8 billion, up approximately 10 percent from $135.1 billion in the first quarter.

Revenue for the Money Manager unit was $21.2 million.  

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