请问什么是wrap account

嗨，爱思考的PZer你好：

同学你好，原版书描述如下：

A fund management service for institutions or individual investors with substantial
assets is the separately managed account (SMA), which is also commonly referred
to as a “managed account,” “wrap account,” or “individually managed account.”
SMAs are managed exclusively for the benefit of a single individual or institution.
Unlike a mutual fund, the assets of an SMA are owned directly by the individual or
institution. The main disadvantage of an SMA is that the required minimum investment is usually much higher than with a mutual fund.

wrap account是为拥有大量资产的机构或个人投资者提供的基金管理服务是独立管理账户 ，通常也称为“管理账户”、“打包账户”或“个人管理账户。它的管理完全是为了某一个人或机构的利益。与共同基金不同，其资产由个人或机构直接拥有。wrap account的主要缺点是最低投资要求通常比共同基金高得多。

-------------------------------
就算太阳没有迎着我们而来，我们正在朝着它而去，加油！