It's not easy being the new kid on the block. But sometimes being the old kid on the block is no bed of roses, either.
Federated Investors, which has a total of $193 billion in assets, has amassed $6 billion of that money in separately managed accounts. However, while Federated has been an SMA provider since 1973, the Pittsburgh-based fund giant has only pursued retail accounts in the past two years. And that has made getting onto the top-tier SMA sponsor platforms something of a challenge.