Capital Advantage Portfolios SMA/UMA Strategies

Asset Management & Trust has offered Separately Managed Accounts (SMAs) to our clients for many years. SMAs are accounts that employ various external, industry-leading private equity managers to fulfill a particular investment style. Managers are selected by our Asset Management & Trust investment staff, based on a number of variables, such as length of time the manager firm has existed, its size, its return relative to their peer group, and risk vs. return. Our clients who utilize this service receive individual stock management from a couple to as many as ten managers who specialize in a single management style, such as large cap growth, large cap value, international, mid-cap growth or value, small cap, etc.

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Features & Benefits

What you need to understand about SMA

The enhanced process is based on the state-of-the-art Unified Management Account (UMA) platform. With the UMA platform, we offer our clients a single, unified view of their entire investment strategy. And it allows our investment staff to more closely monitor all facets of our client’s portfolios, including asset allocations based on investment preferences, account income needs, restrictions desired, and tax implications. At BXS, a UMA includes external, industry-leading mutual funds, private managers, exchange traded funds, and individual fixed-income securities selected by our professional investment staff. We offer no proprietary funds.

The UMA platform offers best-in-class manager availability to our high-net-worth clients. It overcomes many of the problems associated with a traditional SMA, including the requirement for a different account for each kind of investment. A core premise of the UMA involves totally open architecture — the ability to migrate from manager to manager or fund to fund without having to fire the Bank or ever having to start over because the client doesn’t like a particular investment. We have always been an advocate for our clients, but the UMA allows us to be an even stronger advocate. Our emphasis on objectivity and open architecture enables us to offer a broad selection of investment styles and draw on the expertise of world-class money managers. More robust and diversified portfolios are possible but still with the local control of investment decisions and transactions.

With our UMA accounts, our investment portfolio managers receive trading recommendations and/or models from top institutional money managers in the world for each client. If those recommendations conflict with our client’s risk tolerance, personal investment objectives or other parameters, the BXS portfolio manager will serve as an "overlay" manager and can override the recommendation. The portfolio manager will act on those recommendations only if the transactions optimize the portfolio and align with the client’s other financial and non-financial goals. For example, a client can have us screen for social criteria, concentrations, or tax preferences. The ability to customize to reflect the client’s unique preferences is a key component of the Capital Advantage Portfolios.

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