SEI Investments said Thursday second-quarter net income dropped 4.2% citing lower trading volume, a decline in revenue, and a loss on investments.

The Oaks, Penn.-based asset manager posted net income of $34.3 million, or 32 cents a share, down from the $35.8 million, or 31 cents a share it earned in the year-ago period. Earnings for the quarter included a $4.1 million loss on investments. Wall Street analysts, on average, were expecting the company to earn 32 cents a share, according to research firm Thomson Financial/First Call.

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