Separately managed account assets jumped significantly in the second quarter, rising 15% and charging ahead towards the industry’s prediction of $1 trillion in assets by 2006.

Industry-wide assets totaled $442.86 billion, up from the $384.86 billion at the end of the first quarter, according to the Money Management Institute, the SMA industry trade group.

"While rising asset values clearly played a role in the increase in industry assets under management during the second quarter, the industry also has been distinguished by a relatively stable asset base during even the most volatile market periods of the last two years," said Scott Sipple, senior vice president and managing director for Alliance Capital. Sipple is a member of MMI’s board of governors.

The assets under management figure is derived from program totals reported by Merrill Lynch, Morgan Stanley, UBS Prudential and Smith Barney, which collectively hold about 70% of the market. Also included are totals reported by some smaller firms that represent a proxy for the remainder of the industry.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.