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News August 2, 2004 Issue

New Twist on Multi-Style Portfolios

Hereís some interesting news for overlay managers itching to stick their hand up a sleeve:

Last week, Placemark Investments, a large player in the multi-style portfolio (MSP) space, introduced a new "Rep as Manager" feature for its overlay portfolio manager platform. The feature allows individual representatives to act as the discretionary manager for a portion of their clientís assets held in the same omnibus account as other assets managed by other advisers and/or invested in mutual funds and ETFs. The new feature is available to advisers currently using Placemarkís overlay portfolio management platform.

According to Placemark, itís a first.

"Until now, there has been no vehicle that allowed an adviser who is also a discretionary asset manager to take advantage of the benefits offered by a unified managed accounts platform," said Placemark CEO Lee Chertavian.

MSPs are increasingly popular due to the tax savings, risk management and rebalancing opportunities they provide. For more on MSPs, check out the "Next Generation Studies" posted on Placemarkís website (