More than $13b in managed accounts
Managed account services exceed $13 billion, according to a new report by the Institute of Managed Account Providers (IMAP).
The report collated information by 15 principal managed account providers about their service including funds under management held in managed account services.
The survey found Linear Asset Management and Philo Capital Advisors leading the pack both with $3 billion in total managed accounts in funds under management as at 31 December 2014.
"This survey only intended to cover the organisations which aim to provide managed account services for other licensees," IMAP chair, Toby Potter, said.
"The actual total or investment held in this type of account will substantially exceed this amount once firms which administer and manage services only for their own clients are included."
Potter added that IMAP would be collating more accurate information on a regular basis and would launch a managed accounts directory soon.
"The managed accounts directory will be a complete listing of all organisations involved in providing or providing services to the managed accounts industry and will enable IMAP to provide reliable data to track the growth of the sector," he said.
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