Direct Indexing: 2020’s Surge is Just the Beginning

By: Randy Bullard, Global Director of Wealth Management. Direct or personalized index portfolios have been utilized by high net worth investors for over 20 years.  Firms like Parametric Portfolio Associates and Aperio have promoted them through separate account...

Minimizing Performance Dispersion between Models and SMAs

A recent FundFire article found that “performance of portfolios in models-based managed account programs can sometimes diverge from the separately managed account (SMA) strategies they aim to track. Some performance differences can be expected, due to the timing of...

Scaling SMAs to Improve Investment Performance

Separately Managed Accounts (SMAs) are a widely used investment vehicle for endowments, retirement plans, foundations, and wealth managers. The popularity of SMAs is underscored by broad global institutional sponsorship and investor acceptance. As of 2015, more than...