NU Online News Service, Dec. 2, 2003, 4:22 p.m. EST – U.S. households with a net worth over $5 million have shifted 26% of their investable assets into managed accounts, up from 13% in 2001, according to results of a survey by Spectrem Group, Chicago.[@@]
Managed accounts are bundles of stocks and other securities owned and controlled by a single investor. They are comparable in some ways to a personalized mutual fund.
Wealthy investors also are putting more assets in hedge funds, real estate, private equity investments and other alternative investments, Spectrem says.