<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the fiscal year ended December 31, 1997
------------------------------------------
OR
[_] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from______________________to__________________
Commission file Number 0-10200
------------------------------------------
A. Full title of the plan and the address of the plan, if different from that
of the issuer named below:
SEI Investments Capital Accumulation Plan
B. Name of issuer of the securities held pursuant to the plan and the address
of its principal executive office:
SEI Investments Company
1 Freedom Valley Drive
Oaks, Pennsylvania 19456
<PAGE>
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
INDEX TO FINANCIAL STATEMENTS AND SCHEDULES
-------------------------------------------
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
FINANCIAL STATEMENTS:
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS -- DECEMBER 31, 1997
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS -- DECEMBER 31, 1996
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS --
FOR THE YEAR ENDED DECEMBER 31, 1997
NOTES TO FINANCIAL STATEMENTS
SUPPLEMENTAL SCHEDULES:
SCHEDULE I--ITEM 27(a)--SCHEDULE OF ASSETS HELD FOR INVESTMENT
PURPOSES -- DECEMBER 31, 1997
SCHEDULE II--ITEM 27(d)--SCHEDULE OF REPORTABLE TRANSACTIONS --
FOR THE YEAR ENDED DECEMBER 31, 1997
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Plan Administrator of
SEI Investments
Capital Accumulation Plan:
We have audited the accompanying statements of net assets available for benefits
of SEI Investments Capital Accumulation Plan (the "Plan") as of December 31,
1997 and 1996, and the related statement of changes in net assets available for
benefits for the year ended December 31, 1997. These financial statements and
the schedules referred to below are the responsibility of the Plan's management.
Our responsibility is to express an opinion on these financial statements and
schedules based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 1997 and 1996, and the changes in its net assets available for
benefits for the year ended December 31, 1997 in conformity with generally
accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules listed in the
accompanying index are presented for purposes of additional analysis and are not
a required part of the basic financial statements but are supplementary
information required by the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. The fund information in the statements of net assets available for
benefits and the statement of changes in net assets available for benefits is
presented for purposes of additional analysis rather than to present the net
assets available for benefits and changes in net assets available for benefits
of each fund. The supplemental schedules and fund information have been
subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, are fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
ARTHUR ANDERSEN LLP
Philadelphia, Pa.,
June 5, 1998
<PAGE>
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
----------------------------------------------
DECEMBER 31, 1997
-----------------
<TABLE>
<CAPTION>
Core Large Core Small Large Diversified Diversified
Stable Fixed Cap Interna- Cap Cap Moderate Global
Asset Income Value tional Growth Growth Growth Growth
Fund Fund Fund Fund Fund Fund Fund Fund
----------- ----------- ------------ ----------- ------------ ------------ ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Investments $5,564,378 $3,447,108 $15,840,422 $3,607,507 $12,073,979 $17,029,296 $143,238 $2,340,225
Cash and Short-
Term Fund 606 375 1,724 393 1,314 1,854 16 265
Participant
Loans -- -- -- -- -- -- -- --
Employee and Employer
Contributions Receivable 13,426 8,315 38,016 8,658 28,977 40,870 344 5,616
Interest
Receivable 29,998 17,597 -- -- -- -- -- --
---------- ---------- ------------ ----------- ------------ ------------ ----------- -----------
Net Assets Available
For Benefits $5,608,408 $3,473,395 $15,880,162 $3,616,558 $12,104,270 $17,072,020 $143,598 $2,346,106
========== ========== ============ =========== ============ ============ =========== ===========
<CAPTION>
SEI
Investments
Diversified Emerging Company
Global Diversified Markets Common
Stock Conservative Equity Stock Participant
Fund Fund Fund Fund Loans Total
----------- ------------ --------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
Investments $4,276,445 $380,959 $363,228 $1,515,934 $ -- $66,582,719
Cash and Short-
Term Fund 465 41 40 154 -- 7,247
Participant
Loans -- -- -- -- 846,067 846,067
Employee and Employer
Contributions Receivable 10,263 914 872 3,639 -- 159,910
Interest
Receivable -- -- -- -- -- 47,595
----------- ------------ --------- ----------- ----------- -----------
Net Assets Available
For Benefits $4,287,173 $381,914 $364,140 $1,519,727 $846,067 $67,643,538
=========== ============ ========= =========== =========== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE>
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
----------------------------------------------
DECEMBER 31, 1996
-----------------
<TABLE>
<CAPTION>
Core Large Core Small Large Diversified Diversified
Stable Fixed Cap Interna- Cap Cap Moderate Global
Asset Income Value tional Growth Growth Growth Growth
Fund Fund Fund Fund Fund Fund Fund Fund
----------- ----------- ------------ ----------- ------------ ------------ ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Investments $5,944,371 $3,088,457 $11,355,493 $4,111,927 $11,002,836 $11,611,527 $ 9,724 $1,425,624
Cash and Short-
Term Fund 2,330 391 3,089 1,119 2,999 3,160 9 388
Participant
Loans -- -- -- -- -- -- -- --
Interest
Receivable 29,766 -- -- -- -- -- -- --
----------- ----------- ------------ ----------- ------------ ------------ ----------- -----------
Net Assets Available
For Benefits $5,976,467 $3,088,848 $11,358,582 $4,113,046 $11,005,835 $11,614,687 $ 9,733 $1,426,012
=========== =========== ============ =========== ============ ============ =========== ===========
<CAPTION>
SEI
Investments
Diversified Company
Global Diversified Common
Stock Conservative Stock Participant
Fund Fund Fund Loans Total
----------- ------------ ----------- ----------- ------------
<S> <C> <C> <C> <C> <C>
Investments $3,075,452 $314,794 $409,400 $ -- $52,349,605
Cash and Short-
Term Fund 836 86 154 -- 14,561
Participant
Loans -- -- -- 700,801 700,801
Interest
Receivable -- -- -- -- 29,766
----------- ------------ ----------- ----------- -----------
Net Assets Available
For Benefits $3,076,288 $314,880 $409,554 $700,801 $53,094,733
=========== ============ =========== =========== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE>
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
---------------------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1997
------------------------------------
<TABLE>
<CAPTION>
Core Large Small Large Diversified
Stable Fixed Cap Core Cap Cap Moderate
Asset Income Value International Growth Growth Growth
Fund Fund Fund Fund Fund Fund Fund
------------ ------------ ------------- -------------- ------------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Employee
Contributions $ 240,154 $ 242,211 $ 987,904 $ 418,055 $ 1,069,861 $ 1,107,661 $ 97,260
Employer
Contributions 70,388 69,185 280,952 139,822 314,032 302,787 6,344
Net Realized/
Unrealized
Gain (Loss) (31,559) 84,176 2,701,425 (180,112) 399,268 3,388,512 8,139
Dividend and
Interest Income 388,667 223,815 1,529,240 231,040 457,610 852,300 2,059
Interfund Transfers -
Net (246,484) (135,187) (270,808) (696,448) (544,863) 403,200 40,165
Distributions to
Participants (789,225) (99,653) (707,133) (408,845) (597,473) (597,127) (20,102)
---------- ---------- ----------- ------------ ----------- ----------- ----------
Net Increase/
(Decrease) (368,059) 384,547 4,521,580 (496,488) 1,098,435 5,457,333 133,865
Net Assets Available
For Benefits,
January 1, 1997 5,976,467 3,088,848 11,358,582 4,113,046 11,005,835 11,614,687 9,733
---------- ---------- ----------- ------------ ----------- ----------- ----------
Net Assets Available
for Benefits,
December 31, 1997 $5,608,408 $3,473,395 $15,880,162 $3,616,558 $12,104,270 $17,072,020 $ 143,598
========== ========== =========== ========== =========== =========== ==========
<CAPTION>
SEI
Investments
Diversified Diversified Emerging Company
Global Global Diversified Markets Common
Growth Stock Conservative Equity Stock Participant
Fund Fund Fund Fund Fund Loans Total
------------ ------------ ------------- ---------- ------------ ------------ -------------
<S> <C> <C> <C> <C> <C> <C> <C>
Employee
Contributions $ 293,631 $ 485,583 $ 22,924 $ 66,756 $ 3,048 $ -- $ 5,035,048
Employer
Contributions 84,983 162,568 4,211 19,150 1,181 -- 1,455,603
Net Realized/
Unrealized
Gain (Loss) 239,755 658,540 28,794 (61,547) 365,850 -- 7,601,241
Dividend and
Interest Income 96,790 69,043 14,816 1,527 7,404 -- 3,874,311
Interfund Transfers -
Net 232,682 (101,742) (3,303) 394,730 745,000 183,058 --
Distributions to
Participants (27,747) (63,107) (408) (56,476) (12,310) (37,792) (3,417,398)
---------- ---------- ----------- -------- ---------- ---------- -----------
Net Increase/
(Decrease) 920,094 1,210,885 67,034 364,140 1,110,173 145,266 14,548,805
Net Assets Available
For Benefits,
January 1, 1997 1,426,012 3,076,288 314,880 -- 409,554 700,801 53,094,733
---------- ---------- ----------- -------- ---------- ---------- ------------
Net Assets Available
for Benefits,
December 31, 1997 $2,346,106 $4,287,173 $ 381,914 $364,140 $1,519,727 $ 846,067 $67,643,538
========== ========== =========== ======== ========== ========== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE>
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
DECEMBER 31, 1997
-----------------
1. PLAN DESCRIPTION:
-----------------
The following description of the SEI Investments Capital Accumulation Plan (the
"Plan"), formerly SEI Corporation Capital Accumulation Plan, provides only
general information. Participants should refer to the Plan agreement for a more
complete description of the Plan's provisions. The Plan's sponsor is SEI
Investments Company ("SEI" or the "Company").
Effective January 1, 1983, the Board of Directors of the Company established the
Savings and Investment Plan ("SIP"), a contributory defined contribution plan.
Effective January 1, 1988, the SEI Corporation Tax Credit Employee Stock
Ownership Plan ("ESOP") transferred its assets to SIP, and SIP was renamed the
SEI Corporation Capital Accumulation Plan. All ESOP participants are fully
vested. These transferred assets will be distributed in a lump sum to
participants or their beneficiaries upon termination of employment, retirement,
death, or total disability. There will be no other activity related to these
assets.
Effective April 1, 1993, the ESOP was eliminated. ESOP participants were
required to direct their balances to the other investment options or to take
distributions. ESOP participants remained fully vested in these amounts.
The Plan is subject to the provisions of the Employee Retirement Income Security
Act of 1974 ("ERISA"). The Plan provides retirement benefits, including
provisions for early retirement and disability benefits, as well as a tax-
deferred savings feature. An employee may enroll in the Plan on the first day
of the payroll period in the month following their date of employment. A
participant may make tax-deferred contributions to the Plan up to the lesser of
15 percent of compensation or $9,500 for the calendar year 1997, which are
deposited into a "deferral account."
All Company contributions are discretionary and will be made out of available
profits. The Company's matching contribution may not exceed four percent of the
participant's annual compensation or $3,840, whichever is lower, and will be
credited to the participant's matching contribution account. In addition, the
Company may make a contribution to all participants which will be allocated
among eligible participants in the same proportion that each participant's
compensation bears to the aggregate compensation of all participants. These
contributions will be credited to the participant's profit-sharing account.
<PAGE>
-2-
Participants are eligible to receive Company contributions at the point when the
participant is eligible to contribute to the Plan. The Company's matching
contributions to the Plan were $1,455,603 and $1,344,992 for 1997 and 1996,
respectively. The Company made no other discretionary contributions during 1997
and 1996.
As of December 31, 1997, contributions may be invested in the following
investment options: a Stable Asset Fund, a Core Fixed Income Fund, a Large Cap
Value Fund, a Core International Fund, a Small Cap Growth Fund, a Large Cap
Growth Fund, a Diversified Moderate Growth Fund, a Diversified Global Growth
Fund, a Diversified Global Stock Fund, a Diversified Conservative Fund, an
Emerging Markets Equity Fund and a SEI Investments Company Common Stock Fund.
All funds in the Plan are sponsored by the Company.
A description of each investment option is provided below:
Stable Asset Fund--This fund is designed to maintain the value of the
money contributed to the Plan and earn interest. The fund invests mostly
in Guaranteed Investment Contracts purchased from insurance companies and
other financial institutions which are either highly rated (AAA or AA) or
guaranteed by the U.S. Government or its agencies. This fund's contract
value approximates fair value.
Core Fixed Income Fund--This fund invests in governmental and corporate
bonds and is structured to earn income without significant price
improvement.
Large Cap Value Fund--This fund is structured to invest in equity
securities of large companies. This fund invests in the stocks of
companies whose prices appear low relative to certain fundamental
characteristics such as earnings, book value, or return on equity. The
value of the fund will rise and fall based on these companies'
performance.
Core International Fund--This fund purchases equity securities in
companies outside of the United States. A majority of these investments
are made in European and Asian companies that have a long-term potential
for growth.
Small Cap Growth Fund--This fund invests in equity securities of small
companies. The object of this fund is to allow the investment to grow as
the companies grow.
Large Cap Growth Fund--This fund invests in equity securities of large
companies. The object of this fund is to allow the investment to grow as
the companies grow.
Diversified Moderate Growth Fund--This fund seeks to provide long-term
capital appreciation with a limited level of current income through
investments in equity and fixed-income funds, including non-U.S. Equity
funds.
<PAGE>
-3-
Diversified Global Growth Fund--This fund invests primarily in other
equity funds. The object of this fund is to provide long-term capital
appreciation through participation in both U.S. and international equity
markets.
Diversified Global Stock Fund--This fund's object is to provide long-term
capital appreciation through participation in the global equity markets.
The fund achieves this goal primarily through investment in both U.S. and
non-U.S. equities.
Diversified Conservative Fund--This fund invests primarily in money market
and fixed income funds to provide current income with the opportunity for
capital appreciation.
Emerging Markets Equity Fund--This fund seeks to provide capital
appreciation by investing primarily in a diversified portfolio of equity
securities of emerging market issuers.
SEI Investments Company Common Stock Fund--This fund seeks long-term
growth by investing primarily in shares of the Company's Common Stock.
Participants are immediately vested in their voluntary contributions to the
Plan. Participants obtain a non-forfeitable right of ownership in all employer
contributions credited to their accounts at the time of contribution.
Amounts in participants' accounts will be distributed in the form of an annuity,
lump sum amount, or a combination thereof to participants or their beneficiaries
upon termination of employment, retirement, death, or total disability.
Employee contributions in a participant's deferral account may be withdrawn
during employment after the employee reaches age 59 1/2 or upon showing
immediate and substantial financial hardship. The post-tax feature provides for
employee contributions in a participant's savings account to be eligible for
withdrawals at any time.
Under the tax-deferral feature, after two years of participation in the Plan, a
participant is eligible for a loan amount not to exceed the lesser of $50,000 or
50% of his salary deferred account balance; the minimum loan amount is $1,000.
The loans are made at a rate equivalent to those being charged on similar
commercial loans with terms from one year to five years, except for loans for
the purchase of a primary residence, which can have terms of up to 10 years.
Participants may only borrow against their accounts if they have been making
tax-deferred contributions for at least 24 months.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
------------------------------------------
Basis of Accounting
- -------------------
The accompanying financial statements are prepared using the accrual basis of
accounting.
<PAGE>
-4-
Income Taxes
- ------------
The Plan is qualified pursuant to Section 401(a) of the Internal Revenue Code
(the "Code") and accordingly the trust is exempt from income taxation under the
provisions of Section 501(a) of the Code. In October of 1995, the Plan received
a favorable determination letter from the IRS. This signifies that the Plan
meets the Code requirements for design. Management believes the Plan is
designed and operating in compliance with the Code and accordingly, there is no
provision for income taxes in the accompanying financial statements.
Valuation of Investments
- ------------------------
The Plan's investments are stated at market value in the accompanying financial
statements.
Management's Use of Estimates
- -----------------------------
The preparation of financial statements in conformity with generally accepted
accounting principles requires the Plan's management to make estimates and
assumptions that affect the reported amounts of the net assets available for
benefits and disclosures of contingent assets and liabilities at the date of the
financial statements and the reported amounts of changes in net assets available
for benefits during the reporting period. Actual results could differ from those
estimates.
3. INVESTMENTS:
------------
Effective April 1, 1993, the Plan terminated its investment relationship with
CIGNA Corporation and Sanford C. Bernstein & Co., Inc. and added the following
SEI sponsored money market and mutual funds: Stable Asset Fund, Intermediate
Taxable Bond Fund, Equity Value Fund, International Equity Fund and Small Cap
Growth Fund.
Effective April 1, 1993, the Plan terminated the trustee and recordkeeping
relationship with Boatmen's Trust Company and transferred the trustee function
to SEI Trust Company and the recordkeeping function to SEI Investments
Management Company ("SIMC"), both of which are wholly owned subsidiaries of SEI.
Effective December 1995, the Plan added the following mutual funds sponsored by
the Company: Small Cap Value Fund and Large Cap Growth Fund. During 1995, the
names of several funds were changed. The Equity Value Fund was changed to the
Large Cap Value Fund; the Intermediate Taxable Bond Fund was changed to the Core
Fixed Income Fund; the International Equity Fund was changed the Core
International Fund.
In May 1995, the Company entered into an agreement with KPMG Peat Marwick
("KPMG") to assume its full-service recordkeeping operations. As a result of
the agreement, the Plan's recordkeeping function was transferred from SIMC to
KPMG as of November 1995.
<PAGE>
-5-
During 1996, the Plan closed the Equity Income Fund, the Capital Appreciation
Fund and the Small Cap Value Fund to investments by Plan participants and Plan
participants were required to transfer the funds to other investments under the
Plan. In 1996, the Plan opened the following funds to participant investment:
the Diversified Moderate Growth Fund, the Diversified Global Growth Fund, the
Diversified Global Stock Fund and the Diversified Conservative Fund.
In December 1997, the Company filed a registration statement on Form S-8 with
the Securities and Exchange Commission to register 1,000,000 shares of the
Company's Common stock to be offered or sold as an investment option of the
Plan. Additionally, during 1997, the Plan opened the Emerging Markets Equity
Fund to participant investment.
The fair market values of individual assets that represent 5% or more of the
Plan's net assets available for benefits as of December 31, 1997 and 1996 are as
follows:
<TABLE>
<CAPTION>
1997:
----
<S> <C>
Stable Asset Fund $ 5,564,378
Core Fixed Income Fund 3,447,108
Large Cap Value Fund 15,840,422
Core International Fund 3,607,507
Small Cap Growth Fund 12,073,979
Large Cap Growth Fund 17,029,296
Diversified Global Stock Fund 4,276,445
1996:
----
Stable Asset Fund $ 5,944,371
Core Fixed Income Fund 3,088,457
Large Cap Value Fund 11,355,493
Core International Fund 4,111,927
Small Cap Growth Fund 11,002,836
Large Cap Growth Fund 11,611,527
Diversified Global Stock Fund 3,075,452
</TABLE>
4. PLAN EXPENSES:
-------------
All normal administrative costs of the Plan are paid by the Company.
5. PLAN TERMINATION:
-----------------
Although it has no expressed intention to do so, the Company has the right under
the Plan to discontinue its contributions at any time and to terminate the Plan
subject to the provisions of ERISA.
<PAGE>
-6-
In the event of whole or partial termination of the Plan, or complete
discontinuance of employer contributions, each participant shall receive a total
distribution of their account.
6. DISTRIBUTIONS TO PARTICIPANTS:
------------------------------
Distributions to terminated participants are generally made in the year
following termination. Distributions payable to participants at December 31,
1997 and 1996 amounted to $373,661 and $282,930, respectively.
7. RECONCILIATION TO FORM 5500:
----------------------------
Distributions payable to participants are recorded as a liability in the Plan's
Form 5500 and not recorded as a liability in the accompanying statements of net
assets available for benefits in accordance with generally accepted accounting
principles.
The following table reconciles net assets available for benefits per the
financial statements to the Form 5500 as filed by the Company.
<TABLE>
<CAPTION>
Net Assets Available
for Benefits
1997 1997 December 31
Accrued Benefits
-----------------------------------
Distributions Paid 1997 1996
---------------- ---------------- ----------------- ----------------
<S> <C> <C> <C> <C>
Per financial statements $ -- $3,417,398 $67,643,538 $53,094,733
Accrued distributions 373,661 373,661 (373,661) (282,930)
Reversal of 1996 accrual for
distributions -- (282,930) -- --
-------- ---------- ----------- -----------
Per Form 5500 $373,661 $3,508,129 $67,269,877 $52,811,803
======== ========== =========== ===========
</TABLE>
<PAGE>
SCHEDULE I
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
EIN #23-1707341
---------------
PIN #002
--------
ITEM 27(a)--SCHEDULE OF ASSETS HELD
-----------------------------------
FOR INVESTMENT PURPOSES
-----------------------
DECEMBER 31, 1997
-----------------
<TABLE>
<CAPTION>
No. of Current
Shares Description Cost Value
- --------------- --------------------------------------------------- ----------------- ----------------
<S> <C> <C> <C>
5,564,378 SEI* Stable Asset Fund $ 5,564,378 $ 5,564,378
SEI* Institutional Managed
328,333 Trust--Core Fixed Income Fund 3,363,561 3,447,108
SEI* Institutional Managed
865,597 Trust--Large Cap Value Fund 12,864,544 15,840,422
SEI* International
386,657 Trust--Core International Fund 3,841,582 3,607,507
SEI* Institutional Managed
726,473 Trust--Small Cap Growth Fund 12,089,873 12,073,979
SEI* Institutional Managed
867,072 Trust--Large Cap Growth Fund 14,048,137 17,029,296
SEI* Asset Allocation Trust--Diversified Moderate
12,327 Growth Fund 141,339 143,238
SEI* Asset Allocation Trust--Diversified Global
188,272 Growth Fund 2,137,716 2,340,225
SEI* Asset Allocation Trust--Diversified Global
360,348 Stock Fund 3,683,380 4,276,445
SEI* Asset Allocation Trust--Diversified
35,504 Conservative Fund 351,729 380,959
SEI* Institutional International Trust--Emerging
35,061 Markets Equity Fund 404,727 363,228
SEI* Investments Company Common Stock
39,894 Fund 817,509 1,515,934
7,247 Cash and Short-Term Fund 7,247 7,247
Participant Loans (Interest rates range
N/A from 8.0% - 11.5%) 846,067 846,067
----------------- ----------------
Total $60,161,789 $67,436,033
================= ================
</TABLE>
* Represents a party-in-interest
<PAGE>
SCHEDULE II
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
EIN #23-1707341
---------------
PIN #002
--------
ITEM 27(d)--SCHEDULE OF REPORTABLE TRANSACTIONS
-----------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1997
------------------------------------
<TABLE>
<CAPTION>
Number Number Gain
of of Purchase Sale Cost (Loss)
Description of Assets or Security Purchases Sales Price Proceeds Basis on Sale
--------------------------------- --------- ------ ----------- ----------- --------- -----------
<S> <C> <C> <C> <C> <C> <C>
Series
- ------
SEI* Stable Asset Fund 101 112 $3,495,577 $3,663,133 $3,663,133 $ --
SEI* Institutional Managed
Trust--Large Cap Value Fund 118 141 3,040,762 1,643,072 1,520,183 122,889
SEI* Institutional Managed
Trust--Small Cap Growth Fund 104 138 2,803,209 2,137,039 2,197,476 (60,437)
SEI* Institutional Managed
Trust--Large Cap Growth Fund 130 141 3,682,425 1,654,949 1,403,080 251,869
SEI* Institutional International
Trust--Emerging Markets Equity Fund 72 135 1,466,478 1,872,133 1,869,442 2,691
</TABLE>
The purchase prices and selling prices of the above transactions represent the
current value of the assets on the transaction date.
* Represents a party-in-interest
<PAGE>
EXHIBIT 23
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
To SEI Investments Company:
As independent public accountants, we hereby consent to the incorporation of our
report included in this Form 11-K into SEI Investments Company's previously
filed Form S-8 Registration Statement File No. 333-41343.
ARTHUR ANDERSEN LLP
Philadelphia, Pa.,
June 26, 1998
