Assets in managed accounts increased 12.8% in the fourth quarter, according to the business chief industry group.
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The industry group said that the uptick demonstrates that investors are still attracted to managed accounts, even in volatile markets.
But the year-to-year numbers show that managed account assets declined by nearly $2 billion, or 0.5%, between 2001 and 2000 when the industry ended the year with $417.3 billion in assets. The MMI said it isnt alarmed by the decline because, in comparison, mutual fund assets posted far more dramatic declines of 8.1% over the year.
The organizations numbers are based on a survey of the industrys top five managed account providers,
