Demystifying Separately Managed Accounts: An In-Depth Analysis
What are Separately Managed Accounts (SMAs)?
An SMA is a portfolio of individual securities managed on behalf of an investor by a professional investment firm. Investors directly own the securities within the SMA, which allows for high customization.
The investment manager designs and implements a strategy tailored to the specific needs, preferences, and investor’s risk tolerance. This bespoke approach contrasts sharply with mutual funds, where investors hold ...
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