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Asset Management
Managed accounts are a portfolio of stocks or bonds chosen and managed by professional investment manager who makes the buy and sell decision. These account are personalized to the specific needs of the account holder. The advantage of these account are the investment freedom and ability to do what they want with the investments within the portfolio made by the money manager base on the individual investor's goal and objectives. The term asset management is often used to refer to the investment management of collective investments, whilst the more generic fund management may refer to all forms of institutional investment as well as investment management for private investors. Investment managers who specialize in advisory or discretionary management on behalf of private investors, normally wealthy, may often refer to their services as wealth management or portfolio management. Each managed account has an investment objective, and each manager oversees multiple individual accounts invested in the same basic portfolio to meet the same objective. Investors may be institutions like insurance companies, pension funds, corporations or private investors; both directly via investment contracts and more commonly via collective investment schemes. While managed accounts resemble mutual funds in some ways, with a managed account you own individual securities rather than shares of a common fund.
The investor is able to request that the manager avoid certain investments, which it can't be done in mutual fund. Through the broker you might ask the manager to sell certain holdings in your account to realize capital gains or losses. The Fund manager or investment advisor in the U.S. ref ...