Products January 23, 2007
Oppenheimer Asset Management Introduces New UMA Product
Oppenheimer Asset Management has announced a new managed accounts product.
Reported by Rebecca Moore
According to an Oppenheimer Asset Management announcement, Unified Managed Accounts (UMA) offers low investment minimums and a multi-faceted investment strategy. UMA combines several investment vehicles, such as separately managed portfolios and Exchange Traded Funds (ETFs), into one portfolio that is reviewed quarterly for rebalancing.
The product offers investment options from $50,000 to $500,000. The program also includes detailed reporting (one monthly statement, one quarterly performance report and one tax report), and strategic tax management, the announcement said.