Is there a difference between a Growth Finance Managed Account and a Managed Fund?
Yes. A managed account is a brokerage account that belongs to you and is in your name. You only assign a third party the limited POA, which allows that third party to trade in your account on your behalf. A managed fund is a pool of funds from different investors, managed by a third party, in which you buy a proportional interest. The funds are maintained in the name of the third party at the broker. You have a legal right to your proportion of those funds.
