JPMorgan: Muni SMAs Reach $1.6 Trillion, Hold 32% of Outstanding Bonds
JPMorgan Chase & Co. NYSE:JPM has pointed to continued rapid growth in separately managed accounts, or SMAs, as customized municipal-bond portfolios keep gaining ground across the state and local government debt market. According to the bank, SMA assets rose about 7% last year to $1.6 trillion, ext…