Unified Managed Account - UMA


DEFINITION of 'Unified Managed Account - UMA'

A professionally managed private investment account that is rebalanced regularly and can encompass every investment vehicle (e.g. mutual funds, stocks, bonds and exchange traded funds) in an investor's portfolio, all in a single account.

BREAKING DOWN 'Unified Managed Account - UMA'

The unified managed account is an evolution of the separate account, which is similar in that it is a professionally managed account which is rebalanced often but only contains one type of investment instrument (such as mutual funds). If an investor wanted to have a well-diversified portfolio of stocks, bonds and mutual funds, he or she would need to open three separate accounts. The UMA removes the need to have more than one account and combines all of the assets into one account with a single registration.

  1. Exchange-Traded Fund (ETF)

    A security that tracks an index, a commodity or a basket of assets ...
  2. Managed Account

    An investment account that is owned by an individual investor ...
  3. Asset Allocation

    An investment strategy that aims to balance risk and reward by ...
  4. Advisor

    1. The person or company responsible for making investments on ...
  5. Rebalancing

    The process of realigning the weightings of one's portfolio of ...
  6. Mutual Fund

    An investment vehicle that is made up of a pool of funds collected ...
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