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The Rise of Mutual Fund Alternatives: Collective Investment Trusts and Retail Separately Managed Accounts  


Author:  Vadim Avdeychik.; Emily Picard.


Source: Volume 56, Number 14, August 15 2023 , pp.199-208(10)




Review of Securities & Commodities Regulation

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Abstract: 

Participants in the asset management industry have sought out alternatives to mutual funds in recent years, with collective investment trusts and retail separately managed accounts emerging as viable options. The authors address regulatory oversight of these retail alternatives and explore both the benefits and challenges their use may present.

Keywords: Employee Benefit Plans Qualified under Section 401(a) of the Internal Revenue Code; ERISA Section 3(32), 3(33); Collective Investment Trusts Governance and Maintenance; SEC Liquidity Proposal; Separately Managed Accounts (SMA) and Rule 3a-4; Direct I

Affiliations:  1: Clifford Chance US LLP; 2: Clifford Chance.

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