Separately managed account assets grew by double-digits in 2013, according to a new report.
Cerulli Associates discloses this finding in the “The Cerulli Edge: U.S. Asset Management Edition.” The April 2014 release, which marks the 200th issue of the publication, examines trends respecting managed account, direct platforms, hedge funds, offshore fund distribution and mutual fund channels.
The report indicates that separately managed accounts totaled $762.4 billion in the fourth quarter of 2013. This compares to $619.1 billion in the fourth quarter of 2012.
Separately managed accounts encompass several program types, including subadvisory, open (dual contract) and open (proprietary). All three categories enjoyed asset gains in 2013, both during the fourth quarter and for the full year.