Anna's blog
Separately Managed Accounts – Don’t Ask, Don’t Tell and The Importance of Due Diligence
In this article of my Separately Managed Accounts (SMA) series, I discuss some advanced topics that even some sophisticated investors may not think about. Because SMAs do not issue registered prospectuses, investors need to rely on other sources for investigating and evaluating the manager. In investor-speak, this is referred to as due diligence. Like doing your homework on a service provider, comprehensive due diligence should include detailed information in the following areas:
Separately Managed Accounts - What They Won't Tell You
One of the difficulties inherent in making apples-to-apples comparisons among investment offerings is that fee structures vary. This is even trickier for Separately Managed Accounts (SMAs) than for mutual funds, for a variety of reasons.
Fees are not straightforward
Separately Managed Accounts - What are They?
I'm going to be writing a multi-part series on Separately Managed Accounts, one of the least understood corners of the money management world whose accounts tout a lot of advantages, but in reality suffer from high fees and few tax advantages. Many are simply mutual funds in disguise.
