Seward & Kissel is pleased to release its first SMA Snapshot Report. Given the increase in demand for SMAs from investors, we felt the Report was a natural extension to our Hedge Fund Side Letter Study.
The Report provides a high-level analysis of the trends we have observed among SMAs, including trends regarding account size, investors, fees, investment strategy, termination rights and more. Key takeaways include:
- 50% of fund managers with SMAs were founded over 5 years ago
- 65% of SMAs had an equity-focused strategy
- More than 50% of SMA investors were funds
- 40% of SMAs had no incentive fee
To download a copy of the Report, please submit the form below.