UBS PaineWebber has added two portfolios from Neuberger Berman to Access, its separately managed account (SMA) platform. The new All-Cap Core and Small-Cap Core portfolios being added to the product line are new investment additions and do not replace any existing portfolios, according to a spokeswoman from PaineWebber.
The company has also announced that its has moved its SMA division from the consultant services group to the managed account group. PaineWebber is the 12 th SMA asset management company Neuberger Berman has added to its $5.7 billion SMA platform.
Heightened trepidation among investors has increased demand for separate accounts, said Andrew Provencher, senior vice president and director of broker/dealer distribution for Neuberger Berman.
"Our managers are among the most experienced in the industry. Our clients have found this especially reassuring during the market fluctuations weve been experiencing for the past several years," he said.