Separately Managed Accounts (SMA)

Creating Wealth by Reducing Losses

We created the Defined Risk Strategy SMA in 1997 with the goal of providing an investment solution that offered investors both the opportunity for long-term capital appreciation and downside protection, in addition to using options strategies to generate cash flow.  


Our Separately Managed Accounts include:

  • Underlying equity holding (passive, buy and hold)
  • Put options to hedge long equity positions (actively managed)
  • Income-generating options strategies (actively managed)


Our Separately Managed Account offerings reflect our commitment to provide risk management solutions and options-based strategies that accommodate different investor risk tolerances and investment objectives.  The SMA structure is for qualified investors through advisory relationships and require a minimum investment.

One Strategy – Multiple Variations and Asset Classes

The Swan Separately Managed Accounts offer qualified investors the opportunity to invest in the Defined Risk Strategy across a range of asset classes.

  • U.S. Large cap equities
  • U.S. Small cap equities
  • Foreign Developed market equities
  • Emerging market indices
  • Gold
  • Real estate

The Swan DRS SMAs are available for advisors to use with their clients at TD Ameritrade and other custodians.

Defining Managed Separate Accounts

A Separately Managed Account is a portfolio of assets under the management of a professional investment firm. 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. Separately Managed Accounts differ from mutual funds in that each portfolio is unique to a single account, in which the manager has discretion to make investment decisions for each account.