Assets under management in managed accounts reached $1.49 trillion at the end of 2007, the Money Management Institute reports.
The total represents a 20.1% increase over $1.24 trillion in managed account assets reported for the year before, says MMI, Washington.
Separately managed accounts posted an asset gain of 12.7% year over year, to $764 billion, while the mutual fund advisory segment gained 25.6%, to $453 billion.
Despite a slight asset decline in the fourth quarter, the long-term mutual fund industry grew almost 11% for the year, capturing $234.9 billion in net sales.
Exchange-traded funds saw net inflows of $146 billion, up 126% over 2006′s $64 billion, as 291 ETFs were launched in 2007.
Variable product asset growth for the year had net sales of $27 billion, about equal to the tally a year earlier, says MMI.
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