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No. of Managed Accounts Grows, But Assets Decline

Despite month after month of declines in the equity markets, investors continued to open a substantial number of new separately managed accounts, according to a study by Financial Research Corp.

Investors opened 330,000 new managed accounts during the first nine months of this year, the study said. By year-end, that number is projected to total more than two million.

Although the number of new accounts is on the rise, assets invested in the products have slipped by 1.8% between Jan. 1 and Sept. 30 of this year. Poorly performing markets contributed to the declines, observers said.