Exhibit 99.1

LSV Asset Management

Financial Statements

As of December 31, 2010 and 2009 and for each of the

three years in the period ended December 31, 2010

LSV Asset Management

Index

December 31, 2010

Report of Independent Registered Public Accounting Firm

To the Management Committee and Partners of

LSV Asset Management:

In our opinion, the accompanying balance sheet and the related statements of operations, changes in partners’ capital and cash flows present fairly, in all material respects, the financial position of LSV Asset Management (“the Partnership”) at December 31, 2010, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Partnership’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit of these statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). 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, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

February 24, 2011

1

Report of Independent Auditors

To the Management Committee and Partners of

LSV Asset Management:

In our opinion, the accompanying balance sheets and the related statements of operations, changes in partners’ capital and cash flows present fairly, in all material respects, the financial position of LSV Asset Management (“the Partnership”) at December 31, 2009, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2009 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Partnership’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States of America. 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, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

March 26, 2010

2

LSV Asset Management

Balance Sheets

December 31, 2010 and 2009

(in thousands of dollars)

The accompanying notes are an integral part of these financial statements.

3

LSV Asset Management

Statements of Operations

Years Ended December 31, 2010, 2009 and 2008

(in thousands of dollars)

The accompanying notes are an integral part of these financial statements.

4

LSV Asset Management

Statements of Changes in Partners’ Capital

Years Ended December 31, 2010, 2009 and 2008

(in thousands of dollars)

The accompanying notes are an integral part of these financial statements.

5

LSV Asset Management

Statements of Cash Flows

Years Ended December 31, 2010, 2009 and 2008

(in thousands of dollars)

The accompanying notes are an integral part of these financial statements.

6

LSV Asset Management

Notes to Financial Statements

December 31, 2010, 2009, and 2008

(in thousands of dollars)

LSV Asset Management (“LSV” or the “Partnership”), a Delaware general partnership, is a registered investment advisor that provides management services to institutions, including pension plans and investment companies. LSV uses the Quantitative Value Analysis Method and Software to market its investment advisory services. SEI Funds, Inc. (a wholly-owned subsidiary of SEI Investments Company (“SEI”)) owns approximately 42 percent of the Partnership and the remaining portion, approximately 58 percent is owned by LSV employees. The general Partnership Agreement has been amended from time to time to include new partners when they are admitted. The partnership interest of each existing partner is diluted on a pro rata basis when a new partner is admitted.

The business and affairs of LSV are managed under the direction of the management committee. The management committee consists of certain partners of the Partnership. The voting interest by each partner on the management committee differs from their partnership ownership percentage.

Cash and Cash Equivalents

LSV considers investment instruments purchased with an original maturity of three months or less to be cash and cash equivalents.

Allowance for Doubtful Accounts

LSV provides an allowance for doubtful accounts equal to the estimated uncollectible amounts. LSV’s estimate is based on historical collection experience and a review of the current status of accounts receivable.

Revenue Recognition and Related Receivables

Management fee receivables on the accompanying Balance Sheets represent receivables earned and billed, as well as earned but unbilled. Unbilled receivables result from timing differences between services provided and contractual billing schedules. Management fee receivables on the accompanying Balance Sheets consist of the following:

Revenues from management fees are recognized in the period in which services are performed and are calculated based upon a contractual percentage of net assets under management.

Allocations of Net Income or Net Loss

In accordance with the Partnership Agreement, all partnership net profits or losses are allocated among the partners in accordance with their respective ownership interests. Such allocations are

7

LSV Asset Management

Notes to Financial Statements

December 31, 2010, 2009, and 2008

(in thousands of dollars)

included in the “Partnership Capital” balance on the accompanying Statements of Changes in Partners’ Capital.

Partnership Distributions

In accordance with the Partnership Agreement, Partners’ distributions are based upon the net quarterly cash flows of the partnership and are generally paid in the following quarter. Such distributions represent reductions of partners’ capital and are included in the Statements of Changes in Partners’ Capital. Included in Partnership distributions are state taxes paid on certain partners’ behalf and represent a reduction in Partners’ Capital.

Guarantees and Indemnifications

In the ordinary course of business, the Partnership from time to time enters into contracts containing indemnification obligations of the Partnership. These obligations may require the Partnership to make payments to another party upon the occurrence of certain events including the failure by the partnership to meet its performance obligations under the contract. These contractual indemnification provisions are often standard contractual terms of the nature customarily found in the type of contracts entered into by the Partnership. In many cases, there are no stated or notional amounts included in the indemnification provisions. There are no amounts reflected on the accompanying Balance Sheets related to these indemnifications.

On January 24, 2006, certain LSV partners sold a portion of their partnership interests in LSV to LSV Employee Group LLC (the “Borrower”), which is owned by certain current employees of LSV. In order to finance a portion of the purchase price for such interests, the Borrower obtained financing from Bank of America N.A. (the “Agent”) and certain other lenders in the form of a term loan pursuant to the terms of a Credit Agreement. The principal amount of the term loan was $82,800. In January 2011 LSV Employee Group and Bank of America agreed to amend the Credit Agreement and extend the maturity date of the loan from January 2011 to July 2012. There were no changes to the interest rate, payment terms or covenants under the amended agreement. The Borrower has pledged their interests as collateral to secure the term loan. SEI has entered into a Guaranty and Collateral Agreement with the Borrower and the Agent. According to the terms and conditions of the Guaranty Agreement, SEI agreed to provide an unsecured guaranty to the lenders of all obligations to the Borrower under the Credit Agreement. LSV has entered into a Guarantee and Collateral Agreement with the borrower and the agent. According to the terms and conditions of the Guarantee, LSV has agreed to pay 51 percent of the distributable net cash flow if payment has not been received in full from SEI Funds, Inc. within 30 days after delivery of its demand for payment.

8

LSV Asset Management

Notes to Financial Statements

December 31, 2010, 2009, and 2008

(in thousands of dollars)

Fixed Assets

Fixed assets consist of the following at December 31:

Fixed assets are recorded at historical cost. Depreciation of fixed assets is computed using the straight-line method over the estimated useful lives. Amortization of leasehold improvements is computed using the straight-line method over the shorter of the remaining lease term or the estimated useful lives of the improvements.

Management’s Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates.

Concentration of Credit Risk

Financial instruments which potentially expose the Partnership to concentrations of credit risk consist primarily of cash and management fee revenue and receivables. Cash deposits can be maintained with institutions in excess of federally insured limits.

Concentrations of credit risk with respect to our receivables are limited due to the large number of clients and their dispersion across geographic areas. No single group or customer represents greater than 10 percent of total revenue and accounts receivable.

Fair Value of Financial Instruments

The Partnership’s financial instruments consist primarily of cash and cash equivalents. The book value of cash and cash equivalents, trade receivables and trade payables is considered to be representative of their fair value because of their short maturities. The recorded value of these financial instruments approximates their fair value at December 31, 2010 and 2009.

The accounting standard for fair value measurements defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The accounting standard also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

9

LSV Asset Management

Notes to Financial Statements

December 31, 2010, 2009, and 2008

(in thousands of dollars)

Reclassifications

Certain prior year amounts have been reclassified to conform to current year presentation.

The Partnership has entered into various operating leases for facilities. Some of these leases contain escalation clauses. The aggregate noncancellable minimum commitments at December 31, 2010 are as follows:

Rent expense which is included in Facilities, supplies and other costs on the accompanying Statements of Operations was $1,057, $783 and $560 in 2010, 2009, and 2008, respectively.

No federal or state income taxes are provided for by LSV as each partner is liable for income taxes on their respective share of LSV’s taxable income, if any.

LSV’s tax return is subject to examination by federal and state taxing authorities. If such examinations result in changes to LSV’s taxable income, the tax liability of each partner would change accordingly.

The Partnership did not have any unrecognized tax benefit as of December 31, 2010, 2009 and 2008.

Under LSV’s Partnership Agreement, SEI Funds, Inc. is responsible for performing various services to support LSV’s advisory business. In connection with such services, SEI Funds, Inc. allocates certain of its costs including employee benefits and other general and administrative expenses to LSV. The amount payable to SEI Funds, Inc. is included in the Due to SEI Funds, Inc. balance on the accompanying Balance Sheets. The balance due to SEI Funds, Inc. is paid on a monthly basis, is non-interest bearing, and includes compensation, benefit and other general and administrative expenses.

LSV has entered into a Guaranty and Collateral Agreement with LSV Employee Group and Bank of America. See Note 2 for Guarantees and Indemnifications.

LSV is party to a number of portfolio investment advisory agreements with SEI Investments Management Corporation, SEI Global Asset Management Ltd., and SEI Investments Canada Company (all wholly-owned subsidiaries of SEI). Under these agreements, LSV receives an annual fee based on the assets under LSV’s management in various SEI-sponsored funds. Total fees

10

LSV Asset Management

Notes to Financial Statements

December 31, 2010, 2009, and 2008

(in thousands of dollars)

earned under these agreements were $4,387, $3,388 and $3,880 in 2010, 2009 and 2008, respectively. The Management fee receivables balance on the accompanying Balance Sheets included $381 and $361 of such fees at December 31, 2010 and 2009, respectively.

Following completion of eligibility requirements, LSV employees are able to participate in the Capital Accumulation Plan (“CAP”), a SEI-sponsored employee benefit plan. CAP is a tax-qualified defined contribution plan which provides retirement benefits, including provisions for early retirement and disability benefits, as well as a tax-deferred savings feature. Participants are vested in employer contributions at the time the contributions are made. All SEI contributions are discretionary and are made from available profits. The employer contribution expense is included in Compensation, benefits & other personnel on the accompanying Statements of Operations. Costs incurred by the Partnership related to the CAP plan were immaterial in 2010, 2009, and 2008.

Following completion of eligibility requirements, LSV employees are able to participate in a SEI employee stock purchase plan. The plan provides for offering of common stock to eligible employees at a price equal to 85 percent of the fair value at the end of the stock purchase period, as defined. Costs incurred by the Partnership related to the employee stock purchase plan were immaterial in 2010, 2009, and 2008.

In March 2009, certain partners (the Contributing Partners) of LSV, agreed to designate a portion of their partnership interest for the purpose of providing an interest in LSV to a select group of key employees. Until such time an interest in LSV is issued to a key employee, all profits, losses, distributions and other rights and obligations relating to such unissued interests remains with the Contributing Partners. The compensation is treated as a liability and is calculated on projected net income. The Accrued stock based compensation amounted to $1,817, $542, and $0 at December 31, 2010, 2009 and 2008, respectively. Each issuance must be authorized by unanimous vote of all Contributing Partners. The issuance of an interest in LSV to a key employee provides them an interest in the future profits of LSV. It does not provide them any rights in the management of the partnership or the ability to direct the operations or affairs of LSV.

The Company performed an evaluation of subsequent events through February 24, 2011, which is the date the financial statements were made available to be issued.

11