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Managed accounts: Trouble in paradise

Investors want more liquidity and better transparency, but conflicts of interest are one of a myriad of problems that have arisen with managed accounts.

By Neil O'Hara Doug Shaw, head of alternative investments at BlackRock in London, doesn't like to offer managed accounts to investors, and it's not hard to understand why. "If one raises money in the fund on the stated and transparent terms, there is something inherently discourteous if one then raises money

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