Separately-managed account assets grew four percent during the second quarter, according to Cerulli Associates of Boston.

Managed account assets reached $627 billion at the end of June, but growth has slowed considerably since as a result of the volatility in the markets, Cerulli found.

Managed account assets grew 22.5 percent in the first half of the year and were up 57 percent in all of 1999 from 1998, Cerulli said.

Mutual fund wrap account assets also experienced slow growth of four percent in the second quarter, reaching $123 billion, Cerulli said.

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