S&P releases SMA guide for advisers
Standard & Poor’s (S&P) Fund Services has released a report to assist financial advisers gain a better understanding of separately managed accounts (SMAs).
SMAs are becoming increasingly popular as their advantages for investors include transparency and control.
They also afford the investor greater ability to forecast cash flows and efficiently manage tax liabilities, said S&P Fund Services analyst Rodney Lay.
The report, entitled ‘Understanding Separately Managed Accounts’, helps advisers understand the various limitations and risks specific to a SMA investment vehicle before they recommend them to a client.
“A defining feature of a SMA is that the underlying investment assets are held beneficially by the investor, as opposed to a traditional managed fund where investors own units in a trust,” Lay said.
The guide can be downloaded at www.fundsinsights.com and (following the links: Fund Ratings & Research - News & Research — Education).
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