WASHINGTON — Assets in managed accounts grew 29% in the first nine months of the year, to about $350 billion, the Money Management Institute said.

Managed accounts function like mutual funds except that each is for a single investor, according to whose goals it is managed.

The Money Management Institute is a membership organization for the separate-account industry.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.