Morgan, Lewis & Bockius LLP 2000 One Logan Square Philadelphia, PA 19130-6993 Telephone No.: (215) 963-5000 Fax No.: (215) 963-5299 December 2, 1997 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, DC 20549 Re: SEI Investments Capital Accumulation Plan Annual Report on Form 11-K -------------------------------------------------------------------- Dear Sir or Madam: On behalf of the SEI Investments Capital Accumulation Plan (the "Plan"), we have filed with the Securities and Exchange Commission (the "Commission") via the EDGAR system today the Plan's Annual Report on Form 11-K (the "Form 11-K"), pursuant to the Securities and Exchange Act of 1934, as amended, and the Rules promulgated thereunder. Pursuant to General Instruction A.2.(ii) to Form S-8, the Form 11-K is being filed concurrently with the filing by SEI Investments Company of a registration statement on Form S-8 relating to the registration of 1,000,000 shares and an indeterminate amount of interests to be offered or sold pursuant to the Plan. If you have any questions or comments concerning the enclosed filing, please do not hesitate to telephone the undersigned at 215-963-5167 or N. Jeffrey Klauder at 215-963-5694. Very truly yours, /s/ Martin S. Nelson Martin S. Nelson Attachment cc: Kevin P. Robins N. Jeffrey Klauder SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ========== FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996]. For the fiscal year* ended: DECEMBER 31, 1996 ----------------------------------------------------- OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]. For the transition period from ______________________________to ________________ Commission file number 0-10200 ----------------- A. Full title of the plan and 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, PA 19456 --------------- * This report is being filed pursuant to General Instruction A.2.(ii) to Form S-8. 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, 1996 STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS -- DECEMBER 31, 1995 STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS -- FOR THE YEAR ENDED DECEMBER 31, 1996 NOTES TO FINANCIAL STATEMENTS SUPPLEMENTAL SCHEDULES: SCHEDULE I--ITEM 27(a)--SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES -- DECEMBER 31, 1996 SCHEDULE II--ITEM 27(d)--SCHEDULE OF REPORTABLE TRANSACTIONS -- FOR THE YEAR ENDED DECEMBER 31, 1996 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, 1996 and 1995, and the related statement of changes in net assets available for benefits for the year ended December 31, 1996. 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, 1996 and 1995, and the changes in its net assets available for benefits for the year ended December 31, 1996 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. Philadelphia, Pa., /s/ ARTHUR ANDERSEN LLP September 24, 1997 SEI INVESTMENTS --------------- CAPITAL ACCUMULATION PLAN ------------------------- STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS ---------------------------------------------- DECEMBER 31, 1996 ----------------- The accompanying notes are an integral part of this statement.
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 ----------- ----------- ------------ ----------- ------------ ------------ ----------- ----------- 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 ========== =========== ============ =========== ============ ============ =========== =========== Diversified Global Diversified Stock Conservative SEI Participant Fund Fund Stock Loans Total ----------- ------------ --------- ----------- ------------ 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 =========== ============ ========= =========== =========== SEI INVESTMENTS --------------- CAPITAL ACCUMULATION PLAN ------------------------- STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS ---------------------------------------------- DECEMBER 31, 1995 ----------------- The accompanying notes are an integral part of this statement.
Core Large Capital Core Small Stable Fixed Equity Cap Appre- Interna- Cap Asset Income Income Value ciation tional Growth Fund Fund Fund Fund Fund Fund Fund ---------- ----------- ----------- ----------- ------------ ----------- ----------- Investments $5,984,299 $3,251,428 $5,484,465 $4,540,387 $10,182,900 $3,664,923 $9,080,216 Cash and Short- Term Fund 2,066 702 1,171 969 2,176 782 1,938 Participant Loans -- -- -- -- -- -- -- Interest Receivable 30,742 -- -- -- -- -- -- ---------- ----------- ----------- ----------- ------------ ----------- ----------- Net Assets Available For Benefits $6,017,107 $3,252,130 $5,485,636 $4,541,356 $10,185,076 $3,665,705 $9,082,154 ========== =========== =========== =========== ============ =========== =========== Small Large Cap Cap Value Growth SEI Participant Fund Fund Stock Loans Total --------- --------- --------- ----------- ----------- Investments $143,878 $361,290 $429,410 $ -- $43,123,196 Cash and Short- Term Fund 31 77 95 -- 10,007 Participant Loans -- -- -- 627,827 627,827 Interest Receivable -- -- -- -- 30,742 --------- --------- --------- ----------- ----------- Net Assets Available For Benefits $143,909 $361,367 $429,505 $627,827 $43,791,772 ========= ========= ========= =========== =========== SEI INVESTMENTS --------------- CAPITAL ACCUMULATION PLAN ------------------------- STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS --------------------------------------------------------- FOR THE YEAR ENDED DECEMBER 31, 1996 ------------------------------------ The accompanying notes are an integral part of this statement.
Core Large Small Stable Fixed Cap Core Cap Asset Income Value International Growth Fund Fund Fund Fund Fund ------------ ------------ ------------- -------------- ------------- Employee Contributions $ 386,891 $ 288,836 $ 563,995 $ 527,241 $ 996,573 Employer Contributions 87,356 91,923 161,983 166,451 304,379 Net Realized/ Unrealized Gain (Loss) -- (148,431) 441,189 (48,883) (245,233) Dividend and Interest Income 335,342 256,110 554,449 244,083 2,073,070 Interfund Transfers - Net (117,548) (374,810) 5,411,069 (195,945) (483,544) Distributions to Participants (732,681) (276,910) (315,459) (245,606) (721,564) ---------- ---------- ----------- ---------- ----------- Net Increase/ (Decrease) (40,640) (163,282) 6,817,226 447,341 1,923,681 Net Assets Available For Benefits, January 1, 1996 6,017,107 3,252,130 4,541,356 3,665,705 9,082,154 ----------- ----------- ------------ ------------- ------------ Net Assets Available for Benefits, December 31, 1996 $5,976,467 $3,088,848 $11,358,582 $4,113,046 $11,005,835 ========== ========== =========== ========== =========== Large Diversified Diversified Diversified Cap Moderate Global Global Diversified Growth Growth Growth Stock Conserative Fund Fund Fund Fund Fund ------------- ----------- ----------- ----------- ----------- Employee Contributions $ 203,847 $ 54 $ 2,287 488,496 251 Employer Contributions 54,264 10 1,097 2,105 82 Net Realized/ Unrealized Gain (Loss) (26,931) 73 8,039 39,001 1,541 Dividend and Interest Income 116,455 6 400 20 2,219 Interfund Transfers - Net 10,938,673 9,587 1,413,800 2,545,830 310,706 Distributions to Participants (32,988) 3 389 836 81 ----------- ----------- ---------- ----------- ----------- Net Increase/ (Decrease) 11,253,320 9,733 1,426,012 3,076,288 314,880 Net Assets Available For Benefits, January 1, 1996 361,367 -- -- -- -- ------------ ----------- ---------- ----------- ----------- Net Assets Available for Benefits, December 31, 1996 $11,614,687 $9,733 $1,426,012 $3,076,288 $314,880 =========== ====== ========== =========== =========== Capital Small Equity Appre- Cap Income ciation Value SEI Participant Fund Fund Fund Stock Loans Total ----------- ------------ --------- ---------- ------------ ------------- Employee Contributions $ 502,088 $ 840,828 $108,135 $ -- $ -- 4,909,522 Employer Contributions 169,076 275,630 30,636 -- -- 1,344,992 Net Realized/ Unrealized Gain (Loss) 19,849 (324,204) 49,428 9,448 -- (225,114) Dividend and Interest Income 987,254 2,517,385 36,444 4,248 -- 7,127,485 Interfund Transfers - Net (6,610,539) (12,590,248) (357,862) (7,309) 108,140 -- Distributions to Participants (553,364) (904,467) (10,690) (26,338) (35,166) (3,853,924) ---------- ----------- -------- -------- -------- ----------- Net Increase/ (Decrease) (5,485,636) (10,185,076) (143,909) (19,951) 72,974 9,302,961 Net Assets Available For Benefits, January 1, 1996 5,485,636 10,185,076 143,909 429,505 627,827 43,791,772 ---------- ----------- -------- -------- -------- ----------- Net Assets Available for Benefits, December 31, 1996 $ -- $ -- $ -- $409,554 $700,801 $53,094,733 ========== =========== ======== ======== ======== =========== SEI INVESTMENTS --------------- CAPITAL ACCUMULATION PLAN ------------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- DECEMBER 31, 1996 and 1995 -------------------------- 1. PLAN DESCRIPTION: ---------------- The following description of the SEI Investments (the "Company") 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. 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 remain 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 1996, which are deposited into a "deferral account." Beginning January 1, 1995, a participant is no longer permitted to make post-tax contributions. Prior to January 1, 1995, a participant could have made post-tax contributions up to 10 percent of their compensation which were deposited into a "savings account". -2- 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 $3,600, 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. The latter Company contributions will be credited to the participant's profit- sharing account. 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 $1,344,992 and $1,064,735 for 1996 and 1995, respectively. The Company made no other discretionary contributions during 1996 and 1995. As of December 31, 1996, 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 and a Diversified Conservative 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. -3- 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. 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. 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. -4- 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: ------------------------------------------ Basis of Accounting - ------------------- The accompanying financial statements are prepared using the accrual basis of accounting. 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 (formerly Eagle Trust Company) and the recordkeeping function to SEI Investments Management Company, both of which are wholly owned subsidiaries of SEI Investments Company. 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 -5- Fund; the Intermediate Taxable Bond Fund was changed to the Core Fixed Income Fund; the International Equity Fund was changed to 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 SEI Investments Management Company, a wholly owned subsidiary of the Company, to KPMG as of November 1995. 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 Diversified Moderate Growth Fund, the Diversified Global Growth Fund, the Diversified Global Stock Fund and the Diversified Conservative Fund, all of which are funds of the SEI Allocation Trust, 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, 1996 and 1995 are as follows: 4. PLAN EXPENSES: ------------- All normal administrative costs of the Plan are paid by the Company.
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 1995: ---- Stable Asset Fund $ 5,984,299 Core Fixed Income Fund 3,251,428 Equity Income Fund 5,484,465 Large Cap Value Fund 4,540,387 Capital Appreciation Fund 10,182,900 Core International Fund 3,664,923 Small Cap Growth Fund 9,080,216 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. 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, 1996 and 1995 amounted to $282,930 and $165,169, 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.
Net Assets Available for Benefits December 31, 1996 1996 ------------------------------------ Accrued Benefits Distributions Paid 1996 1995 ------------------ ----------------- ------------------ ------------------ Per financial statements $ -- $3,853,924 $53,094,733 $43,791,772 Accrued distributions 282,930 282,930 (282,930) (165,169) Reversal of 1995 accrual for distributions -- (165,169) -- -- -------- ---------- ----------- ----------- Per Form 5500 $282,930 $3,971,685 $52,811,803 $43,626,603 ======== ========== =========== =========== SCHEDULE I SEI INVESTMENTS --------------- CAPITAL ACCUMULATION PLAN ------------------------- EIN #23-1707341 --------------- PIN #002 -------- ITEM 27(a)--SCHEDULE OF ASSETS HELD ----------------------------------- FOR INVESTMENT PURPOSES ----------------------- DECEMBER 31, 1996 ----------------- * Represents a party-in-interest
No. of Current Shares Description Cost Value - --------------- --------------------------------------------------- ----------------- ---------------- 5,944,371 SEI* Stable Asset Fund $ 5,944,371 $ 5,944,371 301,566 SEI* Institutional Managed 3,107,202 3,088,457 Trust--Core Fixed Income Fund 766,327 SEI* Institutional Managed 10,584,968 11,355,493 Trust--Large Cap Value Fund 424,590 SEI* International 4,327,572 4,111,927 Trust--Core International Fund 691,921 SEI* Institutional Managed 11,210,004 11,002,836 Trust--Small Cap Growth Fund 757,488 SEI* Institutional Managed 11,711,263 11,611,527 Trust--Large Cap Growth Fund 956 SEI* Asset Allocation Trust--Diversified Moderate 9,651 9,724 Growth Fund 130,062 SEI* Asset Allocation Trust--Diversified Global 1,417,434 1,425,624 Growth Fund 257,648 SEI* Asset Allocation Trust--Diversified Global 2,542,943 3,075,452 Stock Fund 31,862 SEI* Asset Allocation Trust--Diversified 313,254 314,794 Conservative Fund 18,364 SEI* Stock 124,324 409,400 14,561 Cash and Short-Term Fund 14,561 14,561 N/A Participant Loans (Interest rates range from 8.0% 700,801 700,801 - 11.5%) ----------- ----------- Total $52,008,348 $53,064,967 =========== =========== 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, 1996 ------------------------------------ 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
Number Number Gain/ of of Purchase Sale Cost (Loss) Description of Assets or Security Purchases Sales Price Proceeds Basis on Sale - ----------------------------------------- --------- ------ ---------- ----------- ----------- ---------- Single - ------ SEI* Institutional Managed Trust-- Equity Income Fund -- 1 $ -- $5,183,356 $ 5,062,991 $ 120,365 SEI* Institutional Managed Trust-- Capital Appreciation Fund 1 1 2,394,721 9,513,391 10,153,277 (639,886) SEI* Institutional Managed Trust-- Large Cap Value Fund 1 -- 5,198,104 -- -- -- SEI* Institutional Managed Trust-- Large Cap Growth Fund 1 -- 9,513,391 -- -- -- Series - ------ SEI* Stable Asset Fund 96 116 2,870,627 2,989,712 2,989,712 -- SEI* Institutional Managed Trust-- Equity Income Fund 93 161 2,100,367 2,435,690 2,202,704 232,986 SEI* Institutional Managed Trust-- Large Cap Value Fund 127 136 2,634,033 1,456,117 1,184,032 272,085 SEI* Institutional Managed Trust-- Capital Appreciation Fund 100 170 1,572,023 4,392,007 4,040,940 351,067 SEI* Institutional Managed Trust-- Small Cap Growth Fund 138 175 5,526,648 3,489,642 2,842,763 646,879 SEI* Institutional Managed Trust-- Large Cap Growth Fund 116 78 2,308,520 541,316 503,631 37,685 SEI* Asset Allocation Trust-- Diversified Global Stock Fund 11 1 2,548,260 5,205 5,244 (39) SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees ( or other persons who administer the employee benefit plan ) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. SEI Investments Capital Accumulation Plan Date: December 2, 1997 By /s/ Carmen V. Romeo ---------------- ----------------------------------------- Carmen V. Romeo Chairman