It's separately managed account mania. In the past month alone, three different studies examining managed acount products and prognosticating their impact on the fund world were issued by industry consultants.

Last month, Cerulli Associates released the inaugural issue of its quarterly newsletter, The Cerulli Edge, Managed Accounts Edition. Also last month, Forrester Research released a report called The End of Mutual Fund Dominance, which examines separately managed accounts and, as is obvious from its title, anticipates future trends. Then last week, Financial Research Corp. released Best Practices in the Separately Managed Account Industry, a 210-page "practical guide to separate accounts."

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