Bucking the current trend to lower the amount of money investors must initially pony up to qualify for a separately managed portfolio, Fenimore Asset Management (FAM) of Cobleskill, N.Y., has done just the opposite. In June, it raised the minimum it accepts for separately managed accounts to $1 million from the previous $750,000 level.

An attempt to reach deeper into the wallets of a broader range of wealthy individuals has led many mutual fund companies to lower the minimum amount of assets they accept under separately managed accounts. In many cases, those minimums have fallen to only $50,000 or $100,000, and in a few cases to as low as $25,000.

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