Third Quarter Sees Increase in SMA Assets

October 29, 2003 (—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.

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.