Separately managed accounts (SMAs) saw assets under management rise 39.2% in the first quarter from the same period last year and 5.8% during the first three months of the year, according to a
Assets are now at $536 billion, compared with $385 billion after the first quarter of 2003. MMIs report, which polled 20 sponsor firms including the so-called "Big 5," was compiled and analyzed by
Said
The composition of the SMA market is changing, MMI also found. Smaller sponsors, including banks and regional firms, saw their assets grow 8% over the first quarter while the Big 5s grew 5%.