BlackRock provides separately managed accounts (SMAs) that are central to building tax-efficient, custom indexing and option overlay portfolios.
Custom SMA solutions for Institutional investors
BlackRock SMAs powered by Aperio and SpiderRock Advisors
BlackRock SMAs empower investors to build custom portfolios that help address key institutional challenges through personalization, tax efficiency, transparency and control.
Helping to solve institutional investment challenges
01
After-tax returns
Help enhance portfolio efficiency through advanced tax optimization techniques, including tax-loss harvesting.
02
Customization needs
Help deliver portfolio solutions that align with objectives, guidelines, reporting needs and values-based considerations.
03
Concentrated stock
Help address concentrated equity positions with highly customizable liquidity and rebalancing solutions.
BlackRock’s direct indexing strategies are designed to replicate the performance of an index pre-tax, with the potential to outperform after-tax. Institutional clients benefit from:
- Transition management: The ability to move positions in-kind to minimize tax impact
- Active tax-loss harvesting: Systematic approaches to capture losses and offset gains
- Customization at scale: Adjust exposures to meet value-based preferences, factor tilts or risk constraints
For more than 20 years, BlackRock’s direct indexing specialists have partnered with sophisticated investors to deliver:
Tax-aware strategies, values implemented in portfolios, as well as minimized concentrated positions in a tax effective way.
Customized solutions designed and managed by a team of researchers, tax economists and investment professionals.
BlackRock’s fixed income SMA platform combines the benefits of institutional management with the permanence and definition of owning individual bonds. One of the leading providers of fixed income SMAs for 40+ years, BlackRock works alongside investors and their investment consultants to design scalable, customized portfolios aligned with specific investment objectives, risk parameters and after-tax efficiency considerations.
Global team of experts
Managed by a specialized team and powered by Aladdin®, BlackRock research teams actively monitor thousands of issuers to manage credit risk and enhance positioning.
Scale and access
BlackRock’s scale and market reach provide access to primary and secondary bond markets, helping institutional investors reduce transaction costs and enhance execution efficiency.
BlackRock’s dedicated option overlay platform, provides investors with customizable and tax-aware strategies designed to manage concentrated equity exposure and overall portfolio risk.
Managing concentrated positions
Option overlay strategies offer the ability to manage the risk of a concentrated position and can be customized to meet risk reduction goals.
Portfolio risk management
Overlays can be applied to existing portfolios - whether individual securities, funds or SMAs – by hedging or generating income.
Institutional partnership
BlackRock’s investment strategists collaborate with institutions to design, implement, and scale option overlay programs.
How do SMAs compare to ETFs and mutual funds?
Through SMAs, investors gain direct ownership of underlying equities and bonds while enabling full transparency to meet reporting needs, customizable exposures, enhanced option overlays, and alignment with tax and values-based objectives.
Tools and resources
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Client solutions group
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