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Separately managed accounts.

TRENDS

THAT-A-WAY, AND THAT-A-WAY--MANAGED ACCOUNT TRENDS

* Mutual funds surpassed separate accounts as the top investment vehicle used across the managed account industry.

* While the wirehouses control a majority of market share, nearly every channel has experienced success with managed accounts.

* A sponsor's managed account platform is a significant factor for advisors looking to change broker/dealers.

* The outlook for the managed account industry is positive, and is predicted to reach $2.93 trillion by year-end 2013.

* Mirroring behavior seen in 2001-2002, advisors have flocked to rep-driven programs, but once markets stabilize will likely return to programs that allow for more systematic advice delivery.

[ILLUSTRATION OMITTED]

Source: Cerulli Quantitative Update: Managed Accounts 2009
MORNINGSTAR'S LARGEST SMAs

RANKED BY PRODUCT ASSETS, AS OF 11/3/09

JP Morgan Asset Management JPMorgan U.S Fl DollarLiquidity
Pacific Investment Management PIMCO Core Plus Total Rot Full
 Co LLC Auth
Western Asset Management Western Asset Mgt US Managed Cash
 Company
Federated Investors Federated Prime Money Market
Federated Investors Federated Government Money Market
Barclays Global Investors NA Barclays Glbl Eq Idx Fund CF
Barclays Global Investors NA Barclays GIN Eq Idx Fund CF
 (For DC)
Barclays Global Investors NA Barclays Glbl Equity Index Fund
 (For DC)
Blackrock Financial Management, BlackRock Core Bond
 Inc
AIG Investments AIG US Corporate Investment Grade
 Debt
State Street Global Advisors Ltd. SSgA--S&P 500 Index Strategy
 (Composite)
State Street Global Advisors Ltd. SSgA S&P 500 Flagship NIL Fund
State Street Global Advisors Ltd. S&P 500 Flagship Sec Lend CI A
State Street Global Advisors Ltd. SSgA S&P 500 Index CIT
BNP Paribas Asset Management Inc BNP Paribas Euro Bond
BNY Mellon Cash Investment BNY Mellon CIS STIF
 Strategies
Western Asset Management Company Western Asset Mgt US Core Full
Pacific Investment Management PIMCO L/T Bond Full Authority
 Co LLC
Pacific Investment Management PIMCO Long Dur
 Co LLC
Pacific Investment Management PIMCO Long Term Bond--Long Credit
 Co LLC
Davis Selected Advisers LP Davis Large Cap Value Equity
Davis Selected Advisers LP Davis Large Cap Value WRAP
UBS Global Asset Management UBS Global U.S. Money Mkt
 (Lux.)
Franklin Templeton Invts Templeton Instl Glbl Eq
Blackrock Financial Management, BlackRock Interm Cut
 Inc
Northern Trust Global Investment Northern Trust S&P 500 Index
 Svcs
Northern Trust Global Investment Northern Trust S&P 500 Index CIT
 Svcs
Western Asset Management Company Western Asset Mgt Glbl Sovereign
Pacific Investment Management PIMCO Investmt Grade Corporate
 Co LLC
Dodge & Cox Dodge & Cox Equity
Loomis, Sayles & Company L.P. Loomis Sayles Multi-Sector Full
 Discretn
AllianceBernstein LP Alliance Bernstein US Invest
 Grade Corps
Pacific Investment Management PIMCO Real Ret Full Authority
 Co LLC
Pacific Investment Management PIMCO Short Term
 Co LLC
Dodge & Cox Dodge & Cox Fixed Income
Barrow, Hanley, Mewhinney & BHMS Large Cap Value Equity-SA
 Strauss, Inc
Dwight Asset Management Dwight Stable Value Separate
 Company LLC Account
Blackrock Financial Management, BlackRock Long Dur
 Inc
Franklin Templeton Invts Templeton Non US Eq
Barclays Global Investors NA Barclays Glbl EAFE Eq Idx Fund CF
Franklin Templeton Invts Franklin Templeton Global Bond
 Plus
Pacific Investment Management PIMCO Mortgage Constrained
 Co LLC
Pacific Investment Management PIMCO Mortgage Unconstrained
 Co LLC
State Street Global Advisors Ltd. SSgA U.S. Aggregate Bond Index
 Strategy
State Street Global Advisors Ltd. SSgA Bond Market Fund NL Series A
State Street Global Advisors Ltd. SSgA Bond Market Fund NL
State Street Global Advisors Ltd. SSgA Bond Market Series Fund
 Class A
State Street Global Advisors Ltd. SSgA U.S. Aggregate Bond Index
 CIT
Blackrock Financial Management, BlackRock Muni Bond CF
 Inc
State Street Global Advisors Ltd. SSgA MSCI EAFE Index Strategy
State Street Global Advisors Ltd. SSgA Daily MSCI EAFE CIT
State Street Global Advisors Ltd. SSgA MSCI EAFE Index CIT
Wellington Management Wellington Inv Grade Corporate
 Company, LLP Bond
INVESCO (NY) Inc Invesco Stable Val Trust CF

JP Morgan Asset Management 212-648-0227 Sep Acct Composite
Pacific Investment Management 949-720-6000 Sep Acct Composite
 Co LLC
Western Asset Management -- Sep Acct Composite
 Company
Federated Investors 1-800-245-5000 Sep Acct Composite
Federated Investors 1-800-245-5000 Sep Acct Composite
Barclays Global Investors NA (415) 597-2000 Comingled Pool
Barclays Global Investors NA (415) 597-2000 Comingled Pool
Barclays Global Investors NA (415) 597-2000 Comingled Pool
Blackrock Financial Management, 212-810-5300 Sep Acct Composite
 Inc
AIG Investments 212.770.7000 Sep Acct Composite
State Street Global Advisors Ltd. 617-664-4738 Sep Acct Composite
State Street Global Advisors Ltd. 617-664-4738 Comingled Pool
State Street Global Advisors Ltd. 617-664-4738 Comingled Pool
State Street Global Advisors Ltd. 617-664-4738 Comingled Pool
BNP Paribas Asset Management Inc -- Sep Acct Composite
BNY Mellon Cash Investment 412-234-0341 Sep Acct Composite
 Strategies
Western Asset Management Company -- Sep Acct Composite
Pacific Investment Management 949-720-6000 Sep Acct Composite
 Co LLC
Pacific Investment Management 949-720-6000 Sep Acct Composite
 Co LLC
Pacific Investment Management 949-720-6000 Sep Acct Composite
 Co LLC
Davis Selected Advisers LP 800-279-2279 Sep Acct Composite
Davis Selected Advisers LP 800-279-2279 Sep Acct Composite
UBS Global Asset Management 312-525-7100 Sep Acct Composite
 (Lux.)
Franklin Templeton Invts 954 527 2137 Sep Acct Composite
Blackrock Financial Management, 212-810-5300 Sep Acct Composite
 Inc
Northern Trust Global Investment 312-630-6000 Sep Acct Composite
 Svcs
Northern Trust Global Investment 312-630-6000 Comingled Pool
 Svcs
Western Asset Management Company -- Sep Acct Composite
Pacific Investment Management 949-720-6000 Sep Acct Composite
 Co LLC
Dodge & Cox 415-981-1710 Sep Acct Composite
Loomis, Sayles & Company L.P. 617-482-2450 Sep Acct Composite
AllianceBernstein LP 212-969-1000 Sep Acct Composite
Pacific Investment Management 949-720-6000 Sep Acct Composite
 Co LLC
Pacific Investment Management 949-720-6000 Sep Acct Composite
 Co LLC
Dodge & Cox 415-981-1710 Sep Acct Composite
Barrow, Hanley, Mewhinney & 214-665-1900 Sep Acct Composite
 Strauss, Inc
Dwight Asset Management (802) 383-4073 Sep Acct Composite
 Company LLC
Blackrock Financial Management, 212-810-5300 Sep Acct Composite
 Inc
Franklin Templeton Invts 954 527 2137 Sep Acct Composite
Barclays Global Investors NA (415) 597-2000 Comingled Pool
Franklin Templeton Invts 954 527 2137 Sep Acct Composite
Pacific Investment Management 949-720-6000 Sep Acct Composite
 Co LLC
Pacific Investment Management 949-720-6000 Sep Acct Composite
 Co LLC
State Street Global Advisors Ltd. 617-664-4738 Sep Acct Composite
State Street Global Advisors Ltd. 617-664-4738 Comingled Pool
State Street Global Advisors Ltd. 617-664-4738 Comingled Pool
State Street Global Advisors Ltd. 617-664-4738 Comingled Pool
State Street Global Advisors Ltd. 617-664-4738 Comingled Pool
Blackrock Financial Management, 212-810-5300 Comingled Pool
 Inc
State Street Global Advisors Ltd. 617-664-4738 Sep Acct Composite
State Street Global Advisors Ltd. 617-664-4738 Comingled Pool
State Street Global Advisors Ltd. 617-664-4738 Comingled Pool
Wellington Management 617-951-5000 Sep Acct Composite
 Company, LLP
INVESCO (NY) Inc 404-892-0896 Comingled Pool

JP Morgan Asset Management Currency (SA)
Pacific Investment Management Intermediate-Term Bond (SA)
 Co LLC
Western Asset Management Ultrashort Bond (SA)
 Company
Federated Investors Money Market--Taxable (SA)
Federated Investors Money Market--Taxable (SA)
Barclays Global Investors NA Large Blend (SA)
Barclays Global Investors NA Large Blend (SA)
Barclays Global Investors NA Large Blend (SA)
Blackrock Financial Management, Intermediate-Term Bond (SA)
 Inc
AIG Investments Long-Term Bond (SA)
State Street Global Advisors Ltd. Large Blend (SA)
State Street Global Advisors Ltd. Large Blend (SA)
State Street Global Advisors Ltd. Large Blend (SA)
State Street Global Advisors Ltd. Large Blend (SA)
BNP Paribas Asset Management Inc World Bond (SA)
BNY Mellon Cash Investment Short-Term Bond (SA)
 Strategies
Western Asset Management Company Intermediate-Term Bond (SA)
Pacific Investment Management Long-Term Bond (SA)
 Co LLC
Pacific Investment Management Long-Term Bond (SA)
 Co LLC
Pacific Investment Management Long-Term Bond (SA)
 Co LLC
Davis Selected Advisers LP Large Blend (SA)
Davis Selected Advisers LP Large Value (SA)
UBS Global Asset Management Money Market--Taxable (SA)
 (Lux.)
Franklin Templeton Invts World Stock (SA)
Blackrock Financial Management, Intermediate-Term Bond (SA)
 Inc
Northern Trust Global Investment Large Blend (SA)
 Svcs
Northern Trust Global Investment Large Blend (SA)
 Svcs
Western Asset Management Company World Bond (SA)
Pacific Investment Management Intermediate-Term Bond (SA)
 Co LLC
Dodge & Cox Large Value (SA)
Loomis, Sayles & Company L.P. Long-Term Bond (SA)
AllianceBernstein LP Intermediate-Term Bond (SA)
Pacific Investment Management Inflation-Protected Bond (SA)
 Co LLC
Pacific Investment Management Short-Term Bond (SA)
 Co LLC
Dodge & Cox Intermediate-Term Bond (SA)
Barrow, Hanley, Mewhinney & Large Value (SA)
 Strauss, Inc
Dwight Asset Management Stable Value (SA)
 Company LLC
Blackrock Financial Management, Long-Term Bond (SA)
 Inc
Franklin Templeton Invts Foreign Large Value (SA)
Barclays Global Investors NA Foreign Large Blend (SA)
Franklin Templeton Invts World Bond (SA)
Pacific Investment Management Short Government (SA)
 Co LLC
Pacific Investment Management Short Government (SA)
 Co LLC
State Street Global Advisors Ltd. Intermediate-Term Bond (SA)
State Street Global Advisors Ltd. Intermediate-Term Bond (SA)
State Street Global Advisors Ltd. Intermediate-Term Bond (SA)
State Street Global Advisors Ltd. Intermediate-Term Bond (SA)
State Street Global Advisors Ltd. Intermediate-Term Bond (SA)
Blackrock Financial Management, Muni National Interm (SA)
 Inc
State Street Global Advisors Ltd. Foreign Large Blend (SA)
State Street Global Advisors Ltd. Foreign Large Blend (SA)
State Street Global Advisors Ltd. Foreign Large Blend (SA)
Wellington Management Multisector Bond (SA)
 Company, LLP
INVESCO (NY) Inc Stable Value (SA)

JP Morgan Asset Management 553,462.00 1,114,697.00
Pacific Investment Management 330,117.30 940,434.30
 Co LLC
Western Asset Management 120,923.00 473,438.00
 Company
Federated Investors 110,747.60 407,000.00
Federated Investors 101,933.80 407,000.00
Barclays Global Investors NA 96,433.40 1,684,683.00
Barclays Global Investors NA 96,433.40 1,684,683.00
Barclays Global Investors NA 96,433.40 1,684,683.00
Blackrock Financial Management, 96,004.00 1,124,626.00
 Inc
AIG Investments 87,142.40 578,959.10
State Street Global Advisors Ltd. 86,642.00 1,735,259.60
State Street Global Advisors Ltd. 86,642.00 1,735,259.60
State Street Global Advisors Ltd. 86,642.00 1,735,259.60
State Street Global Advisors Ltd. 86,642.00 1,735,259.60
BNP Paribas Asset Management Inc 77,819.00 304,688.70
BNY Mellon Cash Investment 71,843.00 401,062.90
 Strategies
Western Asset Management Company 71,410.00 473,438.00
Pacific Investment Management 68,107.10 940,434.30
 Co LLC
Pacific Investment Management 68,107.10 940,434.30
 Co LLC
Pacific Investment Management 68,107.10 940,434.30
 Co LLC
Davis Selected Advisers LP 63,312.70 70,515.50
Davis Selected Advisers LP 63,312.70 70,515.50 J
UBS Global Asset Management 62,673.20 546,554.10
 (Lux.)
Franklin Templeton Invts 59,985.90 523,372.30
Blackrock Financial Management, 59,761.00 1,124,626.00
 Inc
Northern Trust Global Investment 59,506.60 411,433.50
 Svcs
Northern Trust Global Investment 59,506.60 411,433.50
 Svcs
Western Asset Management Company 53,269.00 473,438.00
Pacific Investment Management 49,111.40 940,434.30
 Co LLC
Dodge & Cox 48,079.60 145,138.30
Loomis, Sayles & Company L.P. 46,842.80 138,981.10
AllianceBernstein LP 45,594.50 446,951.50
Pacific Investment Management 45,132.50 940,434.30
 Co LLC
Pacific Investment Management 43,879.50 940,434.30
 Co LLC
Dodge & Cox 43,113.20 145,138.30
Barrow, Hanley, Mewhinney & 41,703.00
 Strauss, Inc
Dwight Asset Management 39,782.00 77,600.00
 Company LLC
Blackrock Financial Management, 39,634.00 1,124,626.00
 Inc
Franklin Templeton Invts 39,253.70 523,372.30
Barclays Global Investors NA 38,863.30 1,684,683.00
Franklin Templeton Invts 37,083.00 523,372.30
Pacific Investment Management 33,996.80 940,434.30
 Co LLC
Pacific Investment Management 33,996.80 940,434.30
 Co LLC
State Street Global Advisors Ltd. 33,946.70 1,735,259.60

State Street Global Advisors Ltd. 33,946.70 1,735,259.60
State Street Global Advisors Ltd. 33,946.70 1,735,259.60
State Street Global Advisors Ltd. 33,946.70 1,735,259.60
State Street Global Advisors Ltd. 33,946.70 1,735,259.60
Blackrock Financial Management, 33,110.00 1,124,626.00
 Inc
State Street Global Advisors Ltd. 32,151.60 1,735,259.60
State Street Global Advisors Ltd. 32,151.60 1,735,259.60
State Street Global Advisors Ltd. 32,151.60 1,735,259.60
Wellington Management 31,687.00 447,963.00
 Company, LLP
INVESCO (NY) Inc 31,574.00 388,657.70

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Title Annotation:2010 PRODUCT & TREND GUIDE
Publication:Boomer Market Advisor
Article Type:Company rankings
Date:Dec 1, 2009
Words:2106
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