In this issue of "SMA Quarterly Update," FRC provides the results of a recent FRC survey of 30 SMA managers on the practice of "stepping-out" account trades. FRC also shares an interview with Stephanie Hallberg, Assistant Director, U.S. Private Client Services at Russell Investments, on the firm's history in the SMA marketplace and how SMAs and UMAs fit into the its current distribution strategies. Additionally, this report features SMA discussions in the quarterly conference calls of public asset managers, and an update on SMA market growth and other industry trends.
