White Papers/Articles

Placemark Investments has published several white papers that help explain our philosophy and explore the Unified Managed Account and Overlay Portfolio Management industries in great detail. We encourage you to review and share these documents with your colleagues.

Gaining From Your Losses Without Inflicting Costs:

Placemark's CEO Lee Chertavian and CIO Ron Pruitt discuss the pros and cons of loss harvesting. Their contention is that when employing actively managed separate accounts, banking losses against unrealized future gains may often be a money losing strategy.

Active vs. Passive:

Two very different business models have emerged for delivering Overlay Management in UMA programs – active and passive.  This paper explores the differences between these two approaches to Overlay Management, making the case for Active Overlay Management as the superior business model for sponsors, advisors, clients, and managers.

Unified Managed Household:

Industry trends indicate that the evolution of the Unified Managed Account will culminate with the development of the Unified Managed Household. To deliver integrated client or household-level investment solutions across multiple client accounts and registrations. This paper explores the concept and establishes a roadmap and framework for delivering the future of managed accounts.

Building for the Future: Implementing Today's MSPs to Meet Tomorrow's Needs:

This paper charts the evolution of Multi-Style Portfolios and the issues and trade-offs that program sponsors are facing in implementing these products with an eye toward enabling next-generation Unified Managed Accounts.

Open Architecture and the SMA:

This paper explores why the rising popularity of separately managed accounts that allow managers to customize individual client portfolios will increase the need for interoperability standards.