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Investing October 29, 2003
Third Quarter Sees Increase in SMA Assets
October 29, 2003 (PLANSPONSOR.com)—At the end of the
third quarter, $456.29 billion was held in separately managed
accounts (SMAs), an improvement of 3% over the second quarter
assets of $442.86 billion, Dow Jones reported.
Reported by Alison Cooke
According to data from the Money Management Institute, the third quarter results also showed an increase of 16.2% over the third quarter of 2002, when assets totaled $392.57 billion.
SMAs are accounts managed by professional money managers who select a portfolio of stocks, bonds and other investments. This allows investors to own individual stocks instead of mutual funds, while still diversifying their investment. A minimum investment around $100,000 is generally required in such an account.