POW! 1.22 was formally launched with a seminar at the London Tower Bridge Hilton on 14th May 2009, with Malcolm Frodsham, Director of Research at IPD, as guest speaker.
The main programme included:
followed by presentations on:
We are proud to announce the release of POW! version 1.22 Its many useful and user-friendly new features include:
POW! Documentation
POW! Frontier
POW! Robust
POW! Toolbox
POW! Backtest
POW! Bayes
POW! Risk
POW! Empirical
POW! Mandate
POW! Property
POW! Automation
The model allows the portfolio manager to
Did you know you can do Black-Litterman or Principal Components Analysis in a single cell ? And now that you do, would you like to find out how to use them, and other functions like them ?
If so, let us know and if the help files you want are ready, we'll be happy to send them over; if not, we'll move them up our priority list and let you know when they are. Until 1.22 is released later this year, they won't be wired up to the functions, but the text and examples will be there.
Our new main office is on the First Floor, 220 Tower Bridge Road, London SE1 2UP, just four buildings south of Tower Bridge itself, with splendid river views, and a ringside seat of the mayoral offices. Why don't you come up and see us some time ?
Our original Wadhurst office we will continue to use for administration. The address is The Old Vicarage, Wadhurst, East Sussex TN5 6AA.
The model will allow users:
The data set includes:
Investors wishing to analyse and rebalance their portfolios often do not have detailed stock-level data, so they may assume that each sector index as it stands is a good representation of the corresponding sub-portfolio, ignoring the sector information. This assumption is unsafe if the portfolio
The paper suggests a general methodology by which the investor can use the sector-level information to improve on the conventional approach, and
Please contact us for a copy of the paper.
Features include:
IPD has for many years been the UK's leading provider of commercial property data, and is now rapidly expanding its services in Europe and throughout the world. For more information, see www.ipd.com
Each model will marry a particular geographical or instrument subset from IPD's extensive database to OCCAM's existing POW! range of generic optimisation and risk analysis modules. In due course, new POW! modules are planned to handle the special features of property investments.
With our team continuing to grow, our beautiful office at the Old Vicarage, Wadhurst had become just too small. We have now moved to a business park at Ticehurst, 4 miles down the road, where we have four times the space - but we are working on filling it up, as you'll see from the vacancies
If you don't make it to the office-warming on 1st February, feel free to drop in any time. The best station is still Wadhurst. Please note our new address and phone number.
We will still be using the Wadhurst office for various purposes such as off-site backup. Its phone number ( 44 (0) 1892 783862) will remain as before, but will normally be switched through to Ticehurst.
Since it was first released, POW! has been offered in 2 strengths:
Inevitably such a powerful tool as SA is more expensive than standard AA version, but may be overkill for some purposes. So now, in response to client requests, we are pleased to announce an intermediate strength at a cost-effective price:
Test Bayesian, regular or bootstrap optimisation-based strategies with time-varying constraints and transaction costs
Standard and constrained EM plus our new robust component analysis missing data algorithms added. Also handles mixed periodicities
Private Client and Institutional Software, in addition to existing sources
Tear sheet graphs, enhanced formatting, additional statistics
Simulation added; additional hedge funds statistics
about risk models, but was afraid to ask
by-pass the covariance matrix and distributional assumptions and access empirical data directly for robust and downside statistics
for portfolio managers and other allocators wishing to reduce the impact of estimation risk on their decisions.Funds of funds and portfolios within portfolios
in a rigorous Bayesian framework, allowing for the degree of cofidence you have in thsoe views. For those who know they don't know everything and want to make the most out of what they do. Includes a generalised version of Black-Litterman
based on the POW! Frontier engine, for risk managers and others