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Separate Accounts For Short-Term Investing?

As the SEC contemplates new rules for money funds, customized accounts are seen as a possible alternative.

By Susan Kelly | Updated on July 15, 2013
As the Securities and Exchange Commission considers tightening its regulations for money market funds, separately managed accounts have been touted as a possible alternative if companies decide to shift assets in response to the new rules. Such accounts are essentially customized money funds; they allow a company to set guidelines for how the money in its account is invested.

“It appeals to people, the idea that they can pull together a portfolio that’s specific to their needs,” said Michael Gallanis, a partner at consultancy Treasury Strategies in Chicago. “If you do not wish to actively manage accounts on your own, this seems to be the next best choice.”

Gallanis said, though, that few of Treasury Strategies’ clients use separately managed accounts.

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