AssetMark Investment Services has announced that Parametric Portfolio Associates will handle overlay portfolio management for its new "Consolidated Managed Accounts" program. AssetMarket, which only launched its CMA portfolios last week, said Parametric’s presence will allow for the integration of SMAs, mutual funds and exchange-traded funds in one portfolio, creating what is known in the industry as a unified managed account.

The companies have worked together before; Parametric’s Tax Managed Core portfolio has been part of AssetMark’s managed account platform for several years. Ronald Cordes, AssetMark’s chairman, called Parametric "an excellent partner" and said that this time around, "We believed that its technology, research and customized solutions would add significant value to our program."

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