We provide customized portfolios via separate account asset management.
Managed (or 'separate') accounts are
portfolios held in the investor's own account. The main difference
between managed accounts and mutual funds is that while mutual
fund investors hold shares representing a stake in an overall
portfolio, they do not actually own the securities in that portfolio.
A managed-account investor owns the securities outright, so these securities can
be tailored to match an individual's particular financial needs.
The potential efficiencies of participating in a group or pool
pale when compared to the three main advantages of a separately
managed account: