Although the bear market has prompted many funds to cut costs, wealth management products and services have been largely unaffected by fund companies' austerity measures, according to industry executive and analysts.

In fact, several fund companies have announced plans to develop and market new high-net-worth products and services despite market conditions. Van Kampen of Chicago last week became the most recent company to announce that it will develop a managed account business to target high-net-worth investors. The company began offering a technology portfolio in February and will add two value-oriented portfolios later this year, according to a company spokesperson.

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