separately managed account

Definition

SMA. An individual portfolio investing in stocks, bonds and other vehicles that takes into consideration individual risks and objectives. Unlike a mutual fund, an investor in an SMA owns the shares in the portfolio.

Use this term in a sentence

You should try and have a separately managed account that you can follow closely and make quick adjustments to it.

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You may find that it would be in your best interests to keep a separately managed account that you can get into later.

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The thing was a separately managed account and that meant that it took into consideration certain individual risks and objectives.

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