Fidelity® Equity Separately Managed Accounts

Combining the depth of Fidelity's research capabilities and 75-year investment heritage managing equity strategies with the advantages of a transparent, personalized investment structure.

Overview

Why separately managed accounts (SMAs)?

SMAs are portfolios of individual securities that are managed by professional asset managers who focus on specific asset classes, such as equity or fixed income. SMAs also allow you to own individual securities directly—instead of through a mutual fund or exchange-traded fund (ETF). When employed to complement your overall portfolio, SMAs can provide greater transparency, as well as increased opportunities to personalize your account and apply tax-sensitive investment management strategies1 in an effort to increase after-tax returns.


As shown in hypothetical example, this investor has employed one or more SMAs as a portion of the portfolio's equity allocation.

Pie chart depicts the role an SMA can play in an overall portfolio. In this hypothetical illustration, one or more equity SMAs are used as a portion of a client's domestic equity allocation.

The advantages of SMAs

While mutual funds and ETFs can help you achieve your long-term financial goals, as the table shows, SMAs can provide some distinct advantages.

Features* SMAs MFs ETFs
Professional money management
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Specific investment objective
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Reduce capital gains distributions3
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Potential for personalized tax management
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Direct ownership of securities
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Opportunity to bring in existing holdings
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Low minimums available  
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Transparency of holdings
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Simplicity of owning one holding  
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* For more information on the risks and costs associated with investing in SMAs, mutual funds, and ETFs, please refer to endnote 4.

Investing in Fidelity's equity SMAs

Fidelity's equity SMAs provide a range of equity investment solutions uniquely constructed for individual clients.


  • Expertise — Leverages our proprietary global research organization and analytics to deeply understand market and investment opportunities and risks
  • Experience — A history of over 75 years managing equity strategies and 30 years of experience in asset allocation and investment manager selection
  • Access — Depending on the account you choose, you'll have access to a multi-model portfolio that is only available via a Fidelity SMA

Multiple investment solutions

Fidelity offers different managed Equity SMAs, providing investors with a range of potential investment solutions designed to help meet client's investment objectives and risk tolerance.

Income oriented

Fidelity® Equity-Income Strategy
Seeks to balance the need for long-term growth of capital and dividend income with the potential for less volatility than the US stock market

Capital appreciation

Fidelity® U.S. Large Cap Equity Strategy
Leverages the power of Fidelity's stock and manager selection in an effort to deliver returns greater than the S&P 500® Index over a full market cycle

Tax-managed index

Fidelity® Tax-Managed U.S. Equity Index Strategy
Seeks to provide long-term growth of capital by investing in U.S. equity securities and to enhance after-tax returns by leveraging Fidelity's tax-sensitive investment management techniques1

Capital appreciation

Fidelity® International Equity Strategy
Utilizes active management to diversify across developed-market countries outside the U.S. in an effort to deliver returns greater than the MSCI EAFE Index (Net MA Tax) over a full market cycle

Tax-managed index

Fidelity® Tax-Managed International Equity Index Strategy
Seeks to provide long-term growth of capital by investing in international developed-market equity securities and to enhance after-tax returns by leveraging Fidelity's tax-sensitive investment management techniques1

Investment minimums: $200,000

Gross annual advisory fee: 0.20%–0.90% (varies based on strategy and total assets invested)2

More information