Separately managed accounts are poised for new growth, regardless of the fact that only one in five investors is taking advantage of their benefits, such as tax optimization and account customization, a recent survey of financial advisers and individual investors by Citigroup Asset Management found. Citigroup, based in Stamford, Conn., surveyed 400 advisers in June and July and 505 investors in July and August.

SMAs are a fast-growing financial product because the professionally managed portfolios of individual securities can be fixed to meet specific investment needs. SMA assets totaled $620 billion during the second quarter of 2005, which is a 40% increase from two years ago, according to the Money Management Institute of Washington.

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