Managed Account Assets Remain Level YoY

February 11, 2002 ( - Assets held in separately managed accounts increased by 12.8% in the fourth quarter of 2001, and fell by less than 0.5% over the year, according to a survey of managed account sponsor firms by the Money Management Institute (MMI).

In comparison, mutual fund assets grew by only 9.8% over the quarter, and declined by 8.1% over the year, according to the Financial Research Corp.

Assets in these managed accounts now total $415.5 billion, compared to their $368.3 level at the end of the previous quarter, and the $417.3 billion recorded at the close of 2000, according to figures from the MMI. The MMI figures comprise totals from:

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  • Merrill Lynch
  • Morgan Stanley Dean Witter
  • UBS PaineWebber
  • Prudential
  • Salomon Smith Barney.

These firms collectively hold about 70% of the managed account market. The figure also includes totals from a selection of smaller firms that represent a proxy for the remainder of the managed account industry, according to the MMI.

Over the longer term, assets in managed accounts show an upward trend. They:

  • totaled $161 billion at the close of 1996
  • grew by 80% to $289.9 billion by December 1998
  • grew by a further 44% to $417.3 billion in 2000.