The separately managed account industry witnessed strong growth again in 2004, as assets under management grew by 15.9% to $576.1 billion, the Money Management Institute reported Tuesday.
The trade group now predicts that number will reach $1.3 trillion by 2008. A key driver in that growth, officials said, will be IRA rollovers. In 2003, 25% of the industry's $30 billion of net flow derived from IRAs. That will increase to 40% by 2008, the institute said.