Assets held in separately managed accounts finished 2002 virtually where they were at a year earlier, making them a significantly more stable investment than large, small and foreign stocks, according to The Money Management Institute.
Assets totaled $398.7 billion at the end of the fourth quarter of 2002, a slight drop from the $399.7 billion at the close of 2001, but 4.4% increase over the prior quarter. Conversely, the S&P 500 Index, a measure of large U.S. stocks, fell 22.1%, while the Russell 2000 Index, an indicator for smaller U.S equities, dropped 20.5%.
