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Separately Managed Accounts

Why Thornburg SMAs?

At Thornburg, we offer a range of active investment solutions tailored to your financial goals, including institutional-quality separately managed accounts (SMAs).

 

What sets Thornburg apart is our dedicated service model and decades of expertise. Since 1985, we have managed SMAs with a commitment to performance excellence and personalized attention. High-net-worth individuals and institutions benefit from a broad universe of investment strategies, backed by our bottom-up, fundamental investment approach, ensuring customized solutions for even the most complex client needs.

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Key Benefits


Control
Direct ownership of securities with portfolio decisions driven by asset allocation.

 

Customization
A tailored strategy based on investment objectives, liquidity needs, and values.

 

Tax Efficiency
A variety of ways to minimize overall tax liability, including tax-loss harvesting.

 

Transparency
Access to account transactions, including daily holdings reporting.

Explore Our Featured SMAs

Managed Account

Intermediate Income

Strategy Assets

$0.2 M

(As of 28 Feb 2025)

Inception Date

1 Oct 2024
Managed Account

International ADR

Strategy Assets

$495.4 M*

(As of 28 Feb 2025)

Inception Date

1 Aug 2003
Managed Account

Limited Term Municipal

Strategy Assets

$2.9 B

(As of 28 Feb 2025)

Inception Date

1 Jan 1985
Explore More

Understanding SMAs: A Smarter Way to Invest

Separately Managed Accounts (SMAs) offer investors a personalized approach to portfolio management, combining transparency, customization, and tax efficiency. Whether you’re seeking greater control over your investments or a strategy tailored to your financial goals, SMAs provide an institutional-quality solution designed to meet your unique needs. Explore the basics below to see if an SMA is right for you.

What is a Separately Managed Account (SMA), and how does it work?

An SMA is a professionally managed investment portfolio designed for individual investors, institutions, or high-net-worth clients. Unlike mutual funds, SMAs provide direct ownership of securities, allowing for greater customization, tax efficiency, and transparency. Portfolio managers tailor SMA strategies based on client objectives, risk tolerance, and investment preferences.

How do SMAs compare to mutual funds and ETFs?

While mutual funds and ETFs offer diversification and liquidity, SMAs provide:

  • Direct Ownership: Investors hold individual securities rather than pooled assets.
  • Tax Management: Advisors can implement personalized tax strategies, unlike mutual funds with embedded capital gains.
  • Customization: SMAs allow for ESG considerations, sector tilts, and restrictions on specific stocks.
  • Fee Transparency: Unlike mutual funds with expense ratios, SMA fees are typically a percentage of assets under management (AUM).

Who is an ideal candidate for a separately managed account (SMA)?

SMAs are best suited for:

  • High-net-worth individuals seeking personalized investment strategies.
  • Investors with significant taxable assets who need tax-efficient investing.
  • Clients who prefer direct security ownership and portfolio transparency.
  • Institutions or family offices requiring tailored investment solutions.

Take the Next Step

Contact us at 877.215.1330 to learn more about Thornburg’s SMA offerings and how they can benefit your clients.

Important Information

Investments in the Strategy carry risks, including possible loss of principal. Carefully consider the Strategy's investment objectives, risks, and expenses before investing. There is no guarantee that the portfolio will meet its investment objectives.

*Net assets for the following strategies includes assets under management and assets under advisement, respectively: International Equity Strategy ($3.0 B, ), International ADR Strategy ($88.1 M, $407.4 M), International Growth ADR Strategy ($9.9 M, $692.0 M), Emerging Markets ADR Strategy ($31.8 M, $52.3 M), Equity Income Builder ($30.2 M, $27.2 M), as of 28 February 2025.