JPMorgan Asset Management is developing share in sales of managed accounts even as bank distribution lags, according to a distribution executive at the company.

James T. Detmer, who is a managing director at the unit of JPMorgan Chase & Co., said that its managed account assets more than tripled last year. (And the total more than tripled in 2003, as well.) He said he expects aggressive growth from the $5 billion asset level reached at Feb. 28.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.