In 1997, we launched the Defined Risk Strategy in Separately Managed Account (SMA) format.
Our goal was to provide long-term investors a buy-and-hold strategy that is always hedged to mitigate market risk.
Today, our suite of global hedged equity offerings reflects our commitment to providing long-term investors with solutions that accommodate different investment objectives and tolerance for risk.
Defining Separately Managed Accounts
A Separately Managed Account (SMA) is a portfolio of assets under the management of a professional investment firm. The SMA structure is for qualified investors through financial advisory firm relationships and require a minimum investment. The vast majority of such investments firms are called registered investment advisors, which are regulated by of the U.S. Securities and Exchange Commission (SEC) under the Investment Advisors Act of 1940. One or more portfolio managers are responsible for day-to-day investment decisions, supported by a team of analysts, operations and administrative staff. SMAs differ from pooled products, like mutual funds or ETFs, in that each portfolio is unique to a single account, in which the manager has discretion to make investment decisions for each account.