Mini-Prime Concept Creates Managed Accounts Platform

Aug 12 2011 | 11:06am ET

Concept Capital Markets has launched a new managed accounts platform.

The boutique New York-based prime broker has created a registered investment advisor that will allow its clients to offer their clients managed accounts. Concept's hedge funds will be able to move all of their money to the new platform or can offer managed accounts to existing or potential investors on an individual basis, HFMWeek reports.

"Growing assets under management in a hedge fund world can be difficult at times and an alternative to starting a hedge fund would be to run money as a single managed-account business," Concept's Robert Moore said.

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