TWI483207B - Investment classification and tracking system - Google Patents

Description

Investment classification and tracking system Cross-references for related applications

This application claims US Provisional Application 60/825,634 (filed on September 14, 2006); 60/893,068 (filed on March 5, 2007); 60/914,218 (filed on April 26, 2007) Priority of application), each of the above applications is named “Investment Strategy”; and 60/915,266 (applied on March 1, 2007); 60/917,001 (applied on March 9, 2007) ), 60/941, 834 (filed on June 4, 2007), each of which is hereby incorporated by reference.

Copyright statement

Part of this patent document discloses material that is protected by copyright. The owner of the copyright has no objection to any patent document or patent disclosure by fax, and it appears in the Patent and Trademark Office patent file or record, but retains all copyrights.

Field of invention

The present invention generally describes an investment management classification and tracking system, and more particularly describes a stock investment management classification and tracking system.

Background of the invention

The stock management classification system has long been established in the investment community. As early as 1988, William Sharpe proposed the concept of reward type analysis (RBSA). In 1992, Morningstar proposed a nine-block size value growth grid (nine box size/ Value-growth characteristic grid). The grid makes Use the following labels: growth, value, mix, small capital, large capital, and medium capital to describe equity funds. Others quickly follow their own grid changes, aiming to provide an alternative sub-fund of active growth, growth and growth-growth mutual fund classifications. Today, the industry uses grid and RBSA to classify and select stock managers, but the result is that investment performance is beginning to change.

The asset management industry's over-reliance on the area/value growth characteristics grid and Sharpe's RBSA is unfavourable and misleading for investors, consultants, consultants, planners, and limits asset managers. The widespread acceptance and consolidation of this system has reduced investor compensation. Limiting asset managers to adopt a specific investment strategy has caused a lot of problems.

Limiting stock managers has a negative impact on performance. Forcing a stock manager to any of the nine characteristic blocks prevents an average of 300 basis points per year for the performance of US stocks. When the manager is confined to a small range, the effective range of the stock is reduced to a fraction, so the resulting manager can generate a sub-optimal stock selection from a subset of the stocks selected. A restricted manager is forced to pick a low-ranking stock in the best-choice stock, rather than adding a top-ranked stock to the portfolio.

Restricting stock managers creates a shift in managerial strategies. By reducing the effective stock range to a fraction of a point, managers using any particular stock strategy are restricted from selecting their best stock. An investment strategy is a way for managers to analyze, buy, and sell investment assets and liabilities. When the manager is not allowed to choose the best stock, the manager is forced to drift. Therefore, the manager must be consistent with the strategy for the box consistent (strategy) Make a choice between consistent). They can't be both block consistent and strategically consistent. Our research shows that strategy consistency is better than block consistency.

The above problem arises from the fact that the property block is not an asset class. Although considered as such, the feature block does not provide the diversification and risk reduction advantages of defining asset classes. Asset classes should constitute categories that are unique, have low relevance, and appear to be consistent over time. Blocks are not asset classes. Instead, US stocks range only as one asset class, not nine. The categories that are guided by the nine block grid do not provide the diversification or risk reduction advantages that should be expected by different asset classes.

The feature block does not have a deep understanding of how managers make decisions. Using a grid to categorize managers only gives investors the characteristics of the resulting portfolio. It does not help investors understand stock strategies; that is, it does not help investors understand how managers analyze, buy, and sell stocks, which we call stock strategies.

Contrary to general belief, the block eliminates alpha and does not provide the reduced risk of increased risk. The random selection performance of mutual funds is as good as the performance of blocks that know mutual funds. Even selecting all funds from the same block can have acceptable risk characteristics, and simply applying a consistent strategy performs best without considering the block.

For a system, there is a need to classify and evaluate managers based on their investment strategies.

Summary of invention

A simplified summary of the invention is presented below to provide an understanding of some aspects of the invention. This summary is not an extensive overview of the invention and its various embodiments. It is intended that the invention not be limited to the scope of the inventions

These and other needs are met by various embodiments and configurations of the present invention. The present invention is generally directed to a system for asset manager classification and investment strategy based investment portfolio selection.

In a first invention, a method and system comprising the following steps/operations is provided: (a) receiving a selected reward and risk from a user; and (b) automatically determining a risk-reward based on the selected reward and risk. An efficient frontier; (c) automatically determines a tangent portfolio based on the selected risk level, the tangent portfolio having an allocation weight between a set of asset classes and/or a group of investment strategy members; d) automatically determining the difference between the tangent portfolio and the user selected portfolio; and (e) providing the difference to the user.

In a second invention, a method and system comprising the following steps/operations is provided: (a) providing a user with a plurality of investment strategies, each investment strategy comprising a set of managed securities; and (b) managing the group Each security in the securities provides one to the user Point out that the respective managers follow the consistency assessment of the degree of investment strategy; in a third invention, a method and system comprising the following steps/operations are provided: (a) providing the user with a plurality of investment strategies, each The investment strategy includes a set of managed securities; (b) receiving at least one selected investment strategy from the user; and (c) determining at least one different investment strategy for the at least one selected investment strategy; and (d) providing the user with At least one different investment strategy.

In a fourth invention, a method and system comprising the following steps/operations are provided: (a) determining a complex array of securities descriptions for a plurality of securities managers, each manager having a description of a corresponding group, each security The description describes securities managed by respective managers; and (b) classifies securities by investment strategy based on the securities description; in a fifth invention, a method and system including the following steps/operations are provided: (a) for some Each investment manager and/or securities manager determines the investment strategy used by one or more managed securities and/or securities managers in buying and selling securities; (b) based on the group of investments used by the manager The strategy classifies each managed securities and/or securities manager; (c) receives from the user a request from one of the managed securities and/or securities managers in accordance with a selected group of investment strategies; (d) Providing users with a subset of managed securities and/or securities managers that primarily follow the group's investment strategy.

Using selected compensation and risk assessments and efficiency boundaries and tangent portfolios, users can effectively configure a portfolio that may meet one of the selected risk and reward targets.

The tangent portfolio and the user selected portfolio are typically assigned in a set of investment strategies. In an application, the investment strategy includes competitive position strategy, economic status strategy, future growth investment strategy, market environment strategy, opportunity strategy, profit strategy, quantitative strategy, risk strategy, social factor consideration strategy and evaluation value strategy. Understandably, other strategies for different types of securities and assets are also possible. In that case, a security or asset type identifier can be used in the search query to confirm that the correct set of investment strategies are being used. These investment strategies are usually selected based on historical stock manager behavior and/or manager input. The strategy is considered to be a unique, low-correlation, consistent, long-term classification and provides insight into how stock managers make investment decisions. Therefore, this strategy does not limit managers and can provide enhanced stock performance and suppression strategy drift. A stock manager can have both primary and secondary investment strategies.

In one configuration, the algorithm for determining the efficiency boundary and the tangent portfolio is to determine the monopoly asset portfolio based on the selected rewards and risks; the selected points along the efficiency boundary are in some asset class sets and/or investment strategy sets, And the distribution weights are determined between the components such as expected returns and risks.

Identifying the point at which the corresponding tangent portfolio is along the efficiency boundary; and for the tangent portfolio, determining the allocation weight between the asset class set and/or the investment strategy set, the expected reward, and the risk component.

Diversified assessments can be determined for the selected portfolio and made available to the user.

For each investment strategy, a group of securities managers can be offered to the user for selection. Each manager has a corresponding consistency assessment that indicates how well the securities manager complies with the relevant primary and/or secondary investment strategies.

When a user changes the asset allocation weight of one or more investment strategies in a selected portfolio, the change is automatically propagated across a variety of investment strategies, between the changed portfolio and the tangent portfolio. The difference is determined and the output is provided to the user.

To enrich the user interface, the efficiency boundaries, tangent portfolios, selected (current or existing) portfolios, and the relative positions of the changed portfolios can be graphically illustrated to the user.

To enhance risk diversification, one or more investment strategies that differ from the selected strategy can be identified and provided to the user. By identifying different strategies for asset weighting in a portfolio, strategies can provide the advantages of diversification and risk reduction.

Each asset manager can determine the appropriate investment strategy for his/her securities. This ensures that securities are properly classified, encourages managers to have a higher level of strategic consistency, and discourages users from having to choose between block consistency and policy alignment.

It is also possible to classify individual investments, such as individual stocks, by managerial strategies rather than by other means. The personal investment in the individual stock is held by the manager.

The present invention can provide some advantages over a particular configuration. For example, a policy-based system can allow managers to classify and evaluate values without affecting performance. Managers can be better classified by strategy rather than by block.

These and other advantages will be apparent from the disclosure of the invention contained herein.

The selected words and phrases used here are defined below:

The word "a" entity refers to one or more of that entity. Thus, the words "a", "one or more" and "at least one" are used interchangeably herein. It should also be noted that the terms "comprising," "including," and "having" are also used interchangeably.

The term "automatic" and variations thereof mean that any process or operation is performed without tangible human input. However, even if the execution of the process or operation uses human input, the process or operation may be automatic, whether received tangible or intangible before execution. Human input is considered tangible if such input affects how the process or operation will be performed. Human input for licensing processes or operations is not considered "tangible."

"At least one", "one or more", and "and/or" are open expressions, which are conjunctions and transitional conjunctions in operation. For example, "at least one of A, B, and C", "at least one of A, B, or C", "one or more of A, B, and C", "one of A, B, or C, or More" and "A, B and / Each of the expressions of C or C represents individual A, individual B, individual C, A and B together, A and C together, B and C together or A, B and C together.

The competitive position investment strategy is for managers to focus on business rules, including one of management quality, market capability, product reputation and competitive advantage. Key considerations include the sustainability of business models and the history of adapting to market changes. The strategic elements of this strategy include: the effectiveness of fundamentals, the defensiveness of market positions, the quality of management, and the power of innovation.

"Decision," "Evaluation," "Calculation," and variations thereof are used interchangeably and include any type of methodology, process, mathematical operation, or technique.

The economic situation investment strategy is one of the strategies that managers follow in a top-down approach based on economic fundamentals. These fundamentals can include employment, productivity, inflation, and industrial output. The manager judges the overall health of the economy and tries to determine where it is in the economic cycle, the resulting supply and demand conditions for the various industries, and the best stocks to ultimately purchase. The strategic elements of this strategy include Gross Domestic Product, interest rates, and monetary policy.

The efficiency boundary is a concept of modern portfolio theory (MPT). MPT proposes how rational investors will use diversification to optimize their portfolios and how they should be priced. The basic concepts of the theory are Markowiz diversification, efficiency boundaries, capital asset pricing models, alpha and beta coefficients, capital market lines, and stock market lines. MPT typically models asset returns as a random variable, and modeled portfolios are a weighted combination of assets; the portfolio's reward is thus a weighted combination of asset returns. In addition, the return on the portfolio is a random variable and therefore has an expected value and a variance. In this model the risk is the standard deviation of portfolio returns. Each possible portfolio can be depicted in a risk-reward space, and the accumulation of all such possible portfolios defines an area in the space. The line along the upper edge of the area is called the efficiency boundary (sometimes called the "Markawitz boundary"). The combination along this line represents the lowest risk portfolio for a given position. Conversely, for a given amount of risk, the portfolio at the efficiency boundary represents the combination that provides the best possible reward. Mathematically, the efficiency boundary is the line formed by the intersection of a set of portfolios with the smallest variance and the set of portfolios with the greatest reward. Efficiency boundaries are illustrated in FIG. 1, y is a compensation axis μ _p, x-axis is the risk σ _p. Efficiency boundaries are often convex because the risk-reward characteristics of a portfolio change in a non-linear fashion due to the weighting of their constituents. It will be appreciated that portfolio risk is a function that constitutes asset-related and presents a non-linear form as the weighting of the constituent assets. The efficiency boundary is a parabola (hyperbolic) (only if the borrowing is allowed to be allowed, otherwise it is still only an approximate parabola), when the expected reward corresponding to the variance (standard deviation) is depicted. Areas above the boundary cannot be achieved by holding risk assets alone, and no portfolio can be constructed corresponding to these points in the region. Points below the boundary are sub-optimal. Rational investors will hold those portfolios on the border. Policy and asset class boundaries are each a type of efficiency boundary. They each represent an optimized portfolio of investment strategies for those investment strategies that generate the highest expected reward for a given risk level.

The future growth investment strategy is one of the strategies that managers pay attention to compared to other companies that are expected to grow rapidly. Future growth and valuation strategies are not Mutually exclusive, and is likely to be considered by managers to be both important in the investment process. The elements of a future growth strategy include: the company's overall growth rate, earnings growth rate, sustained growth rate, and accelerated growth rate over a selected time period.

An investment strategy is a way for managers to analyze buying and/or selling investment assets and liabilities. Investment strategies sometimes refer to investment styles, investment methodologies or investment techniques. Investment strategies can be both quantitative and qualitative terms.

The market condition investment strategy is one of the strategies for managers to consider the latest price and trading volume history of stocks relative to the market and similar stocks. Managers can also consider the stock market situation as a whole. The strategic elements of this strategy include technical analysis, mapping, and kinetic energy.

“Module” means any combination of hardware and software known or later developed, such as hardware, software, firmware, artificial intelligence, fuzzy logic, or capable of performing functions related to that element. In the meantime, although the invention has been described in terms of exemplary embodiments, it should be understood that various aspects of the invention may be claimed.

Opportunistic investment strategies are strategies for managers to focus on one of the best opportunities that exist in a small number of stocks or at different points in time. The strategy can include combined stocks and financial derivatives, as well as the use of important leverage. Many hedge fund managers can be characterized as opportunistic strategies, but mutual fund managers can be classified as such. The strategic elements of this strategy include earnings surprises and price models.

The main strategy refers to the investment strategy that is mainly, most frequently or continuously adopted by the manager.

The profit-making investment strategy is a strategy in which managers pay attention to corporate interest rates, while corporate interest rates are measured in various ways such as gross profit, operating profit, net profit and net worth. The strategic elements of this investment strategy include profit intensity, financial strength, net rate of return, and return on invested capital.

Quantitative investment strategies are strategies for managers to focus on the inefficiency of mathematics and statistics in market and individual stock pricing. Typically, this strategy contains mathematical and statistical models that have little or no regard for the fundamentals of the business and the market. The strategic elements of this strategy include stochastic models, quantitative methodologies, and statistical models.

The venture capital strategy is for managers to focus on controlling the overall risk, and the increase in compensation as one of the secondary considerations. A wide range of risk assessments may be considered, including beta, volatility, financial finance, industry and sector exposure, national risk exposure, and economic and market risk factors. The strategic elements of this strategy include business risk, control risk and market risk.

A secondary strategy is an investment strategy that is second to the main strategy or that is less frequently and continuously adopted by managers.

A security is a tool that (i) is issued in secret or registered form; (ii) is generally accepted as a medium for investment in transactions that are usually traded on a stock exchange or market, or wherever issued or traded. a type; (iii) a group or series of tools that are grouped or grouped according to the terms; and (iv) a certificate that proves the property, company’s shares, participation or other interests, or the issuer’s obligations, securities Examples include notes, stocks, treasury shares, public debt, unsecured bonds, proof of debt, interest or participation in petroleum or mineral ownership or leasing, mortgage trust vouchers, transfer of shares, election of trust vouchers, any other publicly recognized securities Interest or contract, interest Or any other vouchers, any temporary or temporary vouchers, receipts or vouchers for deposits, and any of the above-mentioned warrants or rights to be signed or reserved.

Social considerations Investment strategies focus on social factors for managers, including the company's ethics, environmental and industry responsibilities, and strategies to consider the current social and political climate assessment company's line of business. The strategic elements of this strategy include social responsibility, political issues, and religious issues.

The consistency of the strategy refers to the degree to which the manager's asset transaction is consistent with the strategy stated by the manager. In a configuration, the strategic consistency of the securities or managers is expressed as a target assessment based on quantitative assessments, such as the existence of portfolio restrictions (eg, the market value of securities or managers, the sector of securities or managers) /Industry weighting), the number of shares held by securities or managers, the drift of characteristics of securities, the number of strategic factors selected by securities or managers, and strategies appropriate to securities or managers. All of these are combined into an index that captures the degree of consistency of the securities or manager's strategy. The components on which the index is based may change over time. As can be appreciated, policy consistency can be assessed through other techniques including direct access to the manager.

Valuation or value investment strategies are strategies for managers to focus on one of the stocks that are sold cheaper than the equivalent stock based on accounting ratios and valuation techniques. This assessment and future growth strategies are not mutually exclusive. A manager is likely to think of both as an opportunity strategy, but a mutual fund manager can be classified as such. The strategic elements of this strategy include price ratios, reverse investor and cash flow estimates.

The embodiments and configurations described above are neither complete nor thorough. Will be treated It is to be understood that other embodiments of the invention, either alone or in combination, employing one or more of the features set forth above or as detailed below are also possible.

Detailed description of the preferred embodiment

The Strategy-Based Investment (SBI) system classifies investment managers and can be used to classify the investments they hold based on the strategies implemented by the managers. It is based on a self-reported investment strategy or investment management strategy. Complementary investment strategies provide at least a selected degree of risk diversification, while uncomplimentary investment strategies provide less than the degree of risk diversification. They can also provide increased portfolio compensation and less volatility in standard deviation measurements.

In one configuration, the SBI system identifies the following investment strategies: social, mathematical, economic, opportunity, profit, competition, value, risk, quantification, industry, growth, and market. Figure 2 correlates a variety of complementary and non-complementary investment strategies. The ring 200 is constructed such that the closely spaced investment strategies are most similar or non-complementary, while those that are farther around the ring are the most different or complementary. One of the most desirable portfolios is a combination of the most different strategies, such as indicating that the triangles 204 included in a selected portfolio strategy are diversified.

The SBI system classifies investment managers and/or securities based on their analysis, buying and selling of assets and liabilities, regardless of the name of the investment manager process. It will be appreciated that the SBI system can be applied to any asset and debt category where managers make investment decisions based on different investment strategies. Because the SBI system is built on specific decisions made about asset management decisions The way the manager enters the basis. Asset categories that can be characterized by the SBI system include, but are not limited to, mutual funds, independent management accounts or independent accounts of SMA, hedge funds, corporate stocks, public debt, real estate, venture capital, commodity funds, private equity funds, energy funds, precious metals International stocks and international bonds. Although the discussion of the SBI system presented below specifically refers to stocks, it will be appreciated that the SBI system is applicable to non-stock asset classes such as those listed above.

Individual manager investment strategy information, also known as a strategy profile, is collected in a database that forms the basis of the SBI system. This strategic profile typically includes primary and secondary investment strategies for self-selection (or manager selection). In each strategy, there are both quantitative strategy elements and qualitative strategy elements, which further describe the way managers analyze, buy and sell assets. A given manager's strategic profile can include strategic elements from an investment strategy other than the primary and secondary strategic factors. Managers are free to choose as many or as few strategic factors as possible to describe the investment process. Within this primary and secondary investment strategy, managers can prioritize the relative strategic elements selected.

The manager's strategic profile is maintained by the SBI system for use by third parties, such as investment consultants, investment managers, and financial advisors. Part of the strategy profile is made public, while others are not made public. The manager corresponding to the selected strategy profile is expected to follow the policy profile when making an investment decision. Managers are tracked over time to ensure that the stated strategy is adopted. The strategy profile can take into account the simple and granular classification of managers. The degree of classification will depend on the person using the SBI system.

This strategic profile is used to enable managers to form an SBI peer group that is used for performance evaluation. In this SBI peer group, managers are usually grouped by their primary and/or secondary investment strategies. Equivalent groups with the same primary strategy form the broadest grouping of managers. In this broader group of strategies, secondary strategies can be used to further separate managers. The SBI peer group is flexible, allowing consultants and consultants to categorize managers based on primary and secondary strategies along with specific strategic elements of interest.

Performance and consistency assessments are based on members of the same group. The SBI performance measure indicates the performance of performance securities relative to other members of the SBI peer group of securities. The publicly reported performance rating of securities can be adjusted based on the risk of other stocks in the SBI peer group relative to the securities. In addition to the publicly reported performance ratings, users can choose the type of performance measurement, including gross compensation, risk adjustment compensation, and feature adjustment compensation. The consistency assessment or SBI strategy conformance rating is a quantitative indication or rating of the degree to which the selected manager complies with his or her primary and/or secondary strategy. The SBI performance rating and strategic consistency rating are preferably determined at ratings 1 through 5, with a rating of "5" being the highest level, and the ratings are reflected by some diamonds (or other symbols) rated by corresponding values, such as rating 3 Corresponds to three diamonds. This strategic overview is used to generate a portfolio of complementary strategy managers. The user will be able to specify criteria for identifying complementary strategy managers.

Policy consistency assessments are updated regularly and can be based on quantitative and qualitative assessments. These assessments may include the presence of constraints, the number of factors used by the manager, the rating of the strategy, the relevance to the strategy index, the number of shares held by the manager, the range of the characteristic drift, and the phase of the characteristic index. Relevance, strategy tracking, and access to managers. A list of assessments includes any changes over time.

The strategy database can be combined with the performance and holding data of third-party databases to provide manager selection. The user can specify criteria for the selection process. The method of selecting complementary strategy managers is based on algorithms related to risk and alpha characteristics and other expected portfolio characteristics.

The SBI system can be provided to the user as a web-based platform. It can take the form of a standalone product or an engine that drives a personal tagging system.

Figure 3 is an embodiment of the SBI system.

The SBI system 300 includes an enterprise network 304 that utilizes a decentralized processing network 308 (e.g., a wide area network (WAN) such as the Internet) and a plurality of first, second, ... The n servers 312a-n and associated third party databases 316a-n and third party platforms, namely the investment advisory platform 320, the investment manager platform 324, the investment advisor platform 328, and other user platforms 332 communicate. Various platforms and servers are preferably configured in a client-server configuration, although a peer-to-peer network can also be used.

The SBI system 300 includes a software control server 336 including a memory 340, a processor 344, a policy database 348, a policy rating consistency database 352, and an SBI input database 356, all of which are transmitted through a Local area networks (LANs) 360 are connected to each other. The memory 340 includes a plurality of modules, including a search fund module 360, a performance analysis module 364, a portfolio manager module 368, an overall solution module 372, a policy database management module 376, and a strategy tracking module 380. And platform integration module 384.

The strategy database 348 contains information about securities and/or managers. The Information includes data description symbols for the primary and secondary strategies of the designated securities and/or managers. In one configuration, each recorded data structure includes a security (eg, fund) identifier, a primary policy identifier, a primary policy, and each of the identified primary and secondary policy identifiers, one of the respective policies. Or more constitute a strategic element. The constituent elements of the strategy can be quantitative or qualitative in nature. The strategy elements can be ordered in the order in which they are important to the manager. In a configuration, at least some of this information is received from the securities manager. An online questionnaire or survey report is provided to the manager for completion. The questionnaire or survey report provides the manager with considerable freedom in describing their specific investment strategies, and generally covers the investment strategy and strategic elements, and immediately informs the manager of the self-reported primary and secondary investment strategies. As long as the login is used, the manager sends an independent policy description for each managed fund.

The Policy Rating Consistency Database 352 contains information about securities and/or managers. The information preferably includes a security identifier and a uniformity rating for each security identifier.

The SBI input repository 356 combines the investment strategy information of the strategy and strategy rating consistency databases 348 and 352 with performance and holding data provided by third parties such as those in the third party repository 316a-n. Examples of information maintained by third parties include publicly available prospectus, federal and state government regulatory and compliance reporting (eg, filings with securities and trading commissions), posted website content, historical stock transaction records, performance information, holdings Information, holding shares, manager information, contact information, and the like. Each record in database 356 includes a security identifier, basic securities (eg, name of the security, address, contact information, assets, how long has been in existence, investor/investment qualifications, holdings of shares, fund supply, and the like), manager information (eg, manager's name, how long to manage the fund) , how long the investment manager and so on, the main strategy identifier, the main strategy elements (relative to each other are relatively important), the secondary strategy identifier, the secondary strategy elements (relative to each other is relatively important) ), strategic consistency rating, historical performance information, earnings per share (EPS), EPS growth, SBI performance assessment, compared to the growth of selected investments since the beginning of the selected securities group, such as the index (for example, Dow Jones (Dow Jones) stock index and S&P index), corporate market capitalization, stock price or P/B ratio, stock price per share or P/S, net asset value, compensation for a selected period, price/surplus or P/E value, Standard deviation or S/D, portfolio characteristics tilt (such as corporate market value tilt, P/E tilt, EPS growth tilt and P/B tilt), risk assessment (alpha, beta, standard deviation, Sharp indicator, Alpha, Volatility Assessment and Tilt Alpha), (current) expense ratio, (current) shareholding, (current) partial weighting, quartile ranking of SBI peer group members relative to securities, and SBI peer group member identifier (For example, the identifier of the SBI peer group, where the identified security is a member).

It will be understood that there is a separate SBI input repository for each type of investment instrument in each asset class or asset class. For example, there may be separate databases for mutual funds, independent management accounts, and hedge funds in securities.

The Fund Search Module 360 allows users to find managers and securities in a particular investment strategy and to find managers in a complementary investment strategy. One of the online tools of securities. When looking for managers and securities in a particular investment strategy, users have the autonomy to choose to use search criteria, including investment strategies, ratings, investment performance, risk assessment, and portfolio characteristics. The following algorithm is a simple search that identifies all managers or securities that meet user-specified criteria.

An exemplary fund finding interface is depicted in Figures 4 through 5. The display 400 includes a number of fields including: stock symbol query 404, fund name query 408, stock category 412 (which provides Class A shares, Class B shares, Class C shares, Class I shares, R shares, not classified) And other options as a pull-down menu), a primary (investment) strategy 416 (which has a pull-down menu that provides an investment strategy as an option), and a secondary (investment) strategy 420 (which has a pull-down menu that provides an investment strategy as an option) And a minimum fund or diamond rating of 424. It will be appreciated that other search criteria including any of the above mentioned manager and/or stock data description symbols may be used. Fields 404 and 408 are associated with the search image 428, while the remaining fields are associated with a search image 432. When either of the images is selected, the search in the relevant field is executed. A search that has been performed in fields 412, 416, 420, and 424 is shown in the example, and the results are depicted in the lower half of the display. The search structure can be stored as a list by selecting "Save Results as List".

Referring to Figure 5, the user can cause the manager search module 360 to display the jump out of the quick fund detail window 500 by clicking on a listed fund (in this case, Morgan Stanley's concentrated growth, Class C shares). Window 500 includes a description of the set fund and provides the user with a selection option to add to portfolio 504, add to list 508, and view fund report 512. In order to add securities For a list, the user must first select a list of securities to join. This is achieved by completing field 516. The fund's detail window can also appear by selecting an image representing the fund in any user display. For example, selecting any of the funds listed in Figure 6 will result in a detail window for the selected fund.

In one configuration, once a manager and/or security is selected, the user can identify the best complementary investment strategy and the manager/securities included in the portfolio. The user may use some search criteria, including a desired number of complementary investment strategies and any of the data description symbols mentioned above, such as rewards, risks, and resulting portfolio characteristics. If the number of complementary investment strategies and search criteria are changed, then the complementary investment strategy loop is recalculated using the best equation.

The performance analysis module 364 is an online tool that provides performance information to the user, such as compensation for managers and securities, holding shares, and property tilt. The module analyzes performance based on the manager's self-selected SBI peer group. Performance can be measured based on a number of portfolio risk characteristics, investment strategies, and strategic factors, and performance can be ranked relative to other managers in the SBI peer group.

The Portfolio Manager Module 368 is an online tool that allows users to track the performance of a selected portfolio based on rewards, holdings, and characteristics. It provides an overall overview of one of the portfolios and other asset classes held in conjunction with selected client investors.

There are several types of selected portfolios. One type of portfolio is the current portfolio of selected client investors. A second type of portfolio is the target portfolio. The target portfolio corresponds to a tangency portfolio, which is a function of expected rewards and risks. One third The type portfolio is a "whatif" portfolio, which is a hypothetical or planned portfolio generated by the user. Typically, the "what if" portfolio is a modified version of the user's current portfolio.

The Total Solution Module 372 automatically selects managers and securities based on user-defined investment criteria, including the data description symbols mentioned above, and provides investors with an online tool for a complete portfolio solution. The manager module 368 provides a specific set of manager recommendations based on the search criteria specified by the investor. By way of example, the manager module 368 receives input parameters from the user and a subset of recommended managers and/or securities considered from a set of managers and/or securities selection users that satisfy the search criteria. The recommendation may be based, for example, on the relative value of one or more selected parameters entered by the user and transmitted to the user in the order in which the search results are listed.

The strategy data management module 376 determines primary and secondary investment strategies and constituent strategic elements for a selected security or manager, and generates and updates records in the policy database 348.

The policy tracking module 380 determines the strategy tracking index for the selected securities and managers, and generates and updates the records in the policy rating consistency database 352. Assets that are invested by securities or managers (for example, stocks when they are securities funds) are classified by the type of strategy manager that most frequently holds the asset. Over time, within the investment strategy, the type of asset held by the manager is compared to the assets held by a typical manager, and a strategy tracking index is generated based on this comparison. Adopting this index will allow for consistency of fund strategy tracking over time.

The platform integration module 384 sets the first, second, ... nth database 316a-n The selected information is merged with the information in the policy and rating consistency databases 348 and 352 to generate and update the synthetic record in the SBI input repository 356 and to provide user access to the SBI input repository 356, And the operations of the other logic modules 360, 364, 368, 372, 376, and 380 are controlled. The integration module 384 provides a seamless connection between the enterprise network 304 and the third party platforms 320, 324, 328, and 332.

The integration of various modules will now be discussed with reference to Figures 6-14.

Figure 6 is a primary or top-level screen display 600 of the SBI system. The display 600 provides users with a wide variety of information, including strategic diversification 604, which is 10 in size (10 is the most advanced of diversity), showing current and "what if" portfolios (both have a common rating) 6.4) Diversified rating, strategy frontier 608, which shows the target or tangential 610 of the selected rewards and risks, the selected reward 612, the current risk (slide) setting 614, the target portfolio remuneration, and Risk setting 616, each investment strategy 620, and a weighting in the "hypothesis" and target portfolios 624 and 628, a relative difference 632 between the weights, and a list of selected securities for each investment strategy for each investment strategy, respectively. 636.

The policy boundary (e.g., efficiency boundary) curve 640 is a function of block 612 (relative) selected reward and (relative) risk setting 614. When a policy-based portfolio is formed, the relative reward on the vertical or Y-axis of the boundary curve 640 yields the lowest possible (0) to the highest (1) expected possible reward. The relative reward is based on the selected particular reward estimate and the secondary optimization algorithm of the strategy. The relative risk on the horizontal or X-axis of the boundary curve 640 yields a portfolio error ranging from the lowest (0) to the highest (1) when forming a strategy-based portfolio. Relative wind Risk based on historical strategy standard deviation and correlation. Thus, changes in relative reward and risk settings will typically change the shape and/or location of the strategy boundary curve 640, the location of the target portfolio 610, and the weighting of the target portfolio. The diversified values of the strategy indicate that the current and “what if” portfolios are not well diversified. Diversified values of 9 or higher are considered to be well diversified. Strategy diversification is determined using the concept of complementary investment strategies discussed in Figure 2.

Figure 13 is a screen display diagram 1300 showing one of various options provided to the user as a relative reward. These options are 1-year alpha, 3-year alpha, 5-year alpha, 10-year alpha, 1-year alpha MR, 3-year alpha MR, 5-year alpha MR, 10-year alpha MR, competitive position, Economic considerations, future growth, market conditions, opportunities, profitability, quantification, risk, social considerations, and valuation. The first set of options, 1-year alpha, 3-year alpha, 5-year alpha, and 10-year alpha contain historical rewards based on the average performance of the funds in each category. In the case of US stock open-end funds, the compensation is obtained from Lipper and is the net value after deducting the fund management fee and 12B-1 fee, but it is not the net value after any burden, sales, packaging or surcharge other than the management fee. . In the case of equity funds, 1, 3, 5 and 10 year evaluation values are provided. The next set, the 1, 3, 5, and 10-year regression mean (MR) estimates are based on historical rewards such as the highest and lowest exchange returns, the second highest and lowest exchange rewards, and so on. In other words, the MR reward estimate is obtained by assuming that the best execution strategy in a time period becomes the worst execution strategy in the next time period by the same amount of previous worst execution. The last set of options is the investment policy. The investment strategy associated with each row listed in the lower portion of display 600 is omitted and reflected. The choice of the main investment strategy forces the selected strategy into the target portfolio and joins other strategies based solely on risk reduction considerations. For example, if a competitive position is selected, each target portfolio will contain a competitive position (with the possible exception being a zero relative risk portfolio) along with those strategies that are best complemented by risk reduction and competitive position. As the risk slides increase, the competitive position allocation approaches and eventually reaches 100%. The selected reward assessment value forms the basis for all strategic boundaries, diversification, and allocation calculations.

Returning to Figure 6, display 600 further includes a fund selection block 644 that provides the criteria for the funds in list 636 and has the SBI top stock (as shown) in each investment strategy, the current portfolio stock, "Assume" selected stocks and pre-existing or pre-selected stock columns as options. The image 648 set to the target causes the "hypothesis" column 624 to be the same as the target column 628, and setting to the current image 652 causes the "what if" column 624 to restore the weighted and held shares of the current portfolio. The "what if" column setting changes in a corresponding manner when the weighting and/or stock holdings in each investment strategy row change. The stock list includes quick watch funds (which are designated by the user as stocks whose performance is being monitored) and other user-selected lists. The user can configure as many stock lists as he or she expects. The funds listed in the lower half of the 600 are the ones with the highest diamond rating in each strategy. The rating records the degree of consistency of the fund manager's strategy, ◆◆◆◆◆ (5 diamonds) is the best, ◆ (1 diamond) is the worst. Studies have shown that strategic consistency managers outperform managers who lack strategic coherence. The fund’s diamond rating is based on a number of objective assessments of strategic consistency and does not include any individual funds. Reward performance assessment. Thus, if previous performance is important in the selection of funds, the diamond rating will have to be supplemented in the fund's selection process. In each investment strategy row, some policy control images are presented to change the weighting in the "what if" column 624. The one-way down arrow 656 reduces the "what if" portfolio weight by 1% in the corresponding row, the bidirectional down arrow 658 by 5%, the one-way up arrow 660 by 1%, and the bidirectional upward arrow 662 by 5%. . When a change is made to a row, the change propagates to the weights in the other (unlocked) rows and "assumes" that the location of the portfolio image 664 is appropriately changed. The adjustment strategy controls the image movement "hypothesis" or project portfolio in a desired direction, typically close to the target portfolio. Changing the strategy allocation only affects the “what if” portfolio and does not affect the current portfolio. Once the strategy allocation process is completed, specific fund allocations can be adjusted using the portfolio details pop-up menu (Figure 7).

A padlock image 668 displayed between each row of paired arrows allows the user to avoid the spread of portfolio weighting. When the padlock image is displayed as an open or unlocked padlock, the feature does not take effect and the change propagates freely as mentioned above. When the padlock image is displayed as a closed or locked padlock, the proportional allocation or weighting in that row remains the same for the change in the allocation ratio in the other row. There must be at least two unlocked, forward allocation policies that are used to assign the correct operation of the algorithm.

The policy boundary map 672 shows the "hypothesis" and the relative position of the current portfolio, the target portfolio 610, and the strategy boundary curve 640. The current position of the portfolio is fixed. The location and shape of the target portfolio 610 and the location and shape of the policy boundary curve 640 can be changed by changing the reward 612 and the risk setting 614. change. The "assumed" position of the portfolio 664 controls the image change by applying a strategy. Since there is no change to the current portfolio, the "hypothesis" shown in display 600 is the same as the current portfolio. The "what if" and current portfolios happen to be positioned below the strategic boundary curve 640 to indicate that the portfolio is not well diversified strategically. A position closer to the curve 640 and preferably closer to the target indicates that the portfolio is well diversified strategically. The downward arrow between the "what if" and target allocation columns 624 and 628 shows the percentage of the "what if" portfolio is allocated differently than the recommended target portfolio.

Figure 7 depicts one of the display diagrams 700 previously displayed when the cursor is moved to the portfolio detail tab 680 at the right edge of the display 600. A pop-up display 704 appears, showing the securities held by the current and "what if" portfolios, and the stocks are broken down according to the investment strategy category. By clicking on the fund in front of the fund, a fund was eliminated. The resulting cash inflow is added to the unallocated amount of that strategy. A fund is added from the fund listed at the bottom of the app by clicking on it and then clicking on "Add to Portfolio" at the bottom of the Quick Fund Details window. The fund was added with a zero capital balance. At the top right of the pop-up window, the user types in the cash inflow or outflow of the portfolio. If the user clicks out of the rest of the window, the "what if" total is updated. One by one, the user increases or decreases the amount invested in each fund by typing a new amount into the block on the right side of each fund. If the user clicks out of the rest of the window, the total is updated. The process continues in this manner until the unallocated amount of each strategy and unsorted funds approaches zero.

Fig. 8 is a screen display diagram 800 different from the one shown in Fig. 6 due to the difference in risk setting. Figure 6 has a risk setting 614 equal to 0.54, and the 8th The graph has a 0.03 risk setting 804. By comparing the policy boundaries of Figures 6 and 8, it can be seen that the position and weight of the target have been changed.

Fig. 9 is a screen display diagram 900 different from that of Fig. 6, except that the information displayed in the lower half of the screen display map 900 has been changed, and two new images appear, that is, the updated chart image 904 is updated. And discard image 908. If selected, the former image 904 updates the displayed policy boundaries to reflect these changes, the latter image 908 does not update the displayed policy boundaries, but discards all changes since the last update.

Figure 10 is a screen display diagram 1000 different from that of Figure 6, with the difference being that the cursor is placed on the client/portfolio label to the left of display 600. A drop-down display 1004 appears that lists the user's customer and a list of portfolios or portfolio segments for that customer for that customer. In the example in Figure 10, the customer is "Wes Schrader" and the customer's portfolio segment is "IRA". The relationship between the customer and the portfolio is shown by a hierarchical tree structure. Hierarchies of more than two layers are possible, such as, for example, one of the displayed portfolios has a subordinate portfolio or portfolio segment, and the subordinate portfolios shown include constituent stock holdings. The user further selects "IRA" which causes a deeper dropdown display 1010 to appear. Shows reports that allow users to add portfolios to customers on the list, rename selected portfolios of customers, delete portfolios listed by customers, introduce funds and invest in each fund amount to selected portfolios, view selected portfolios View the transaction report of the selected customer. As shown in Figure 10, a new customer profile can be created by clicking on the "Add New Customer" image. When the image is selected, a pop-up window display requesting the customer and portfolio name is provided. In addition, the user can introduce a list of funds without an investment amount as a fund list by moving the cursor to the "Fund List" tab 1014. The fund list function allows users to pre-select the introduction of a fund group, regardless of whether it is a user, a user's favorite fund or a fund of interest to investors.

The portfolio report provides a summary of the portfolio based on strategy, allocation, consistency ratings, market capitalization and stock return (PE) tilt and risk. Combining this report with a single fund report produces a comprehensive customer report. The report includes all necessary disclosures that can be modified to meet your company's specific compliance requirements.

A simple transaction report is shown in Figure 12. This report should only be generated after the strategy diversification and fund allocation process is completed. It outlines the changes in funds between current and “what if” portfolios. The report includes the relative weighting of the current and “what if” portfolios and the difference or change in the weight of the portfolio.

Figure 11 is a screen display 1100 of display 600 different from Figure 6, except that the "what if" column 1104 has been changed and the "update chart" image 904 is selected. The policy boundary curve is renewed to show a "what-if" portfolio image 1108 reflecting the change and a current portfolio image 1112 reflecting the current portfolio weighting. The position of the target image remains the same as there is no change to the reward and risk curve.

Figure 14 is a screen display diagram 1400 depicting the selection of an asset class assignment profile. The reward-related pull-down function table 1404 has been changed to the following selection group with respect to the selection group shown in Fig. 13: 1-year alpha, 3-year alpha, 5-year alpha, 10-year alpha, cash equivalent, beauty National fixed income, US stocks, international stocks, venture capital, commercial real estate, residential real estate, energy and precious metals. In addition, the policy boundary label has been changed to the asset class boundary, and the row set has been changed to reflect the listed asset class 1408, namely cash equivalents, US fixed income, US stocks, international stocks, venture capital, commercial real estate, energy, and precious metals. Each asset class is associated with a corresponding relative reward, where the target curve and asset class boundary curve 1412 is a function. The screen display map 1400 typically appears when the user selects a customer's (multiple asset class) portfolio, while the screen display map 600 appears when the user selects a subordinate portfolio or portfolio segment of the user's US stock. The asset classes are all entered into the Portfolio Details pop-up window in the box to the right of each current asset class (Figure 7). This "what if" allocation can thus be changed as needed. The total amount allocated is used to invest in the subordinate portfolio allocation process. In this way, users can work with multiple asset types or with only one asset type.

The operation of the SBI system 300 will now be described with reference to Figures 15-19.

Referring to Figure 15, policy database management module 376 selects a security and/or manager in block 1500.

In block 1504, module 376 obtains a prospectus and other public compliance approval statements, such as from one or more of the first, second, ... nth databases 316a-n. The statement is parsed and the keyword is located.

In block 1508, the located information is entered into a temporary file or record associated with the selected security and/or manager.

In block 1512, which may be executed as part of block 1508, the identified keywords are each mapped to a particular policy element, depending on The time is related to a specific investment strategy.

In block 1516, module 376 allocates the primary and secondary investment strategies for the selected securities and/or managers and is located in the appropriate fields in the data record.

In block 1520, the module 376 requests and receives interpreted input from the selected manager, modifying the policy elements and investment strategies as appropriate. Preferably, the primary and secondary investment strategies and strategic elements selected by the manager take precedence over the contradictory information in the records. Blocks 1516 and 1520 can be executed in the reverse order.

In block 1524, module 376 generates a file or record in policy database 348 for input to platform integration module 384.

In decision diamond 1528, module 376 determines if there is a next security/manager to be processed. If not, module 376 ends the operation in ellipse 1532. If so, module 376 selects the next security/manager at step 1536 and returns to block 1500 and repeats.

Referring now to Figure 16, policy tracking module 380 selects a security/manager in block 1600.

In block 1604, the module 380 identifies and scales the consistent constituent elements and, in block 1608, calculates the constituent element values for the selected security/manager. As mentioned earlier, the strategic consistency components include (a) the correlation between the selected securities remuneration and the strategic investment index remuneration; (b) the correlation between the selected securities remuneration and the characteristic index remuneration; and (c) the determination to be related to a particular investment strategy. The calculation of the quantitative portfolio characteristics; and (d) the information received from the selected manager.

In block 1612, module 380 assigns a policy category based on the constituent elements.

In block 1616, module 380 generates a policy rating consistency database The file is used to input the platform integration module 384.

In decision diamond 1620, module 380 determines if there is a next security/manager. If not, the module ends in ellipse 1624. If so, the module selects the next security/manager in block 1528 and returns to block 1600 and repeats.

Referring to Figure 17, the operation of platform integration module 384 will now be discussed.

In block 1700, module 384 selects a security/manager.

In block 1704, the module 384 retrieves the selected securities/manager from the strategy and strategy rating consistency databases 348 and 352 and the first, second, ... nth databases 316a through n Corresponding records.

In block 1708, module 384 clears and matches the information in the retrieved record. It will be appreciated that the data record can be in a different format, grammar, grammar and/or expressed in a different language. Module 384 converts the data record into a common expression format.

In block 1712, module 384 determines additional statistical values from the information for the selected security/manager.

In block 1716, module 384 generates a record in SBI input repository 356.

In block 1720, module 384 determines if there is a next security/manager to be processed. If not, module 384 ends the operation in ellipse 1724. If so, module 384 selects the next security/manager in block 1728 and returns to block 1700 and repeats.

The overall operation of the SBI system 300 will now be discussed with reference to Figure 18.

In block 1800, the SBI system 300 receives an account selection from a user. The The account can be an actual value or a subordinate element of the account, such as information related to the current portfolio or parts thereof. The operation can be performed by accessing an existing account, creating a new account, or introducing an account for the SBI system 300. The user interface useful in this operation includes Figure 10. The output of this operation includes current portfolio information.

In block 1804, the SBI system 300 retrieves portfolio information for the selected account.

In block 1808, system 300 determines an asset class or type that is recommended for one of the portfolios. Users provide an asset class alpha (or relative compensation), a master asset class (eg, cash equivalents, US fixed income, US stocks, international stocks, venture capital, commercial real estate, residential real estate, energy and precious metals), and beta or from Risk setting the risk value of the image. The user interfaces supported in this operation include pictures 2, 4, 5, 8, 9, 11, 13, and 14. The output of this operation includes the recommended asset group and asset class allocation ratio or weighting.

In block 1812, the SBI system 300 determines an investment strategy in each asset class that is recommended for the portfolio. Inputs to this operation include the investment strategy alpha (or relative compensation), the main investment strategy, and the beta value. Features that support this operation include restricting securities selection through a pre-configured list of securities, restricting securities selection through selected user securities searches, and pre-screening or filtering criteria. The output of this operation includes the recommended investment strategy and distribution ratio.

In block 1818, the SBI system 300 analyzes the portfolio information as compared to the best, recommended, or target portfolio. Inputs to this operation include recommended investment strategies and allocation ratios and (current) portfolio information. This operation The output includes portfolio attributes, portfolio hypothesis performance, and portfolio comparisons.

In block 1822, system 300 allocates 100% of the account value to the selected policy of the portfolio. The inputs to this operation include the recommended investment strategy and distribution ratio. The output of this operation includes the selected strategy, allocation ratio, and portfolio properties.

In block 1826, system 300 selects securities for the project portfolio. The inputs to this action include the user-selected strategy and distribution ratio. The user interface for this operation includes securities/manager screening, quick results, and securities/manager details. The "Quick Results" option allows a list of funds that are restricted to an existing user list ("List Restrictions" sub-option), a selected named screen ("Name Screen Limits" sub-option), and each investment strategy is not filtered. The top five securities ("View" sub-options), the output of this operation includes a selected security/manager.

In block 1830, system 300 assigns a 100% account value to the securities selected for the project portfolio. The input to this operation includes the selected securities manager. The output of this operation is the portfolio of portfolio securities / holding shares and weighting. The report output for this operation includes an investment development guideline report, hypothetical performance, and portfolio comparison.

Figure 19 depicts the algorithm used in the "what if" and target columns 624 and 628 of display 600 (Fig. 6) to configure the policy boundary portion 608, the policy diversification portion 604, and the allocation ratio through the investment strategy.

In block 1900, the input relative reward and risk set historical rewards and risk estimates are obtained by SBI system 300.

In block 1904, system 300 uses a suitable algorithm, such as Elton. & Grubber single-index algorithm solves the corner portfolio. It will be understood that a monopoly portfolio refers to those efficiency boundary portfolios in which a new strategy enters and the current strategy exits.

In block 1908, system 300 calculates a distribution ratio, expected reward, and risk for each investment strategy as a point along the policy boundary curve.

In block 1912, system 300 calculates a distribution ratio, expected reward, and risk for the current, "what if" or project portfolio for each investment strategy.

In block 1916, system 300 calculates a policy diversification assessment displayed in policy diversification portion 604.

In block 1920, system 300 redisplays based on the determined parameters. As previously mentioned, when a change has been made to the "what if" portfolio, the user needs to select an update chart for the change to be displayed at boundary portion 608. Changes in relative compensation or risk settings cause the boundary portion to be automatically renewed.

In decision diamond 1924, system 300 determines if any further changes have been received from the user. If not, the system repeats the decision diamond 1924 at regular intervals. If so, system 300 returns to block 1900 and repeats.

Using different primary and secondary investment strategies and SBI peer groups, various types of analysis and comparisons can take effect.

In a first example, an investment strategy index is generated; that is, an index is generated using an appropriate weighted benchmark, such as price or market value, in each investment strategy. The resulting index will be based on the fund/manager using the specified strategy and can be generated using the overall fund remuneration or individual fund holdings. The multiple indices for each strategy will be based on different bits Quasi-strategic consistency is generated. By way of illustration, a competitive position index, future growth index and similar index of an SBI peer group are generated. In a technology, an investment strategy index is achieved by combining a manager's compensation with a selected investment strategy or a member of the SBI peer group that should be selected for the investment strategy to produce a weighted index. Remuneration is the holding of shares for each fund in terms of managing assets, or when managing assets is a fund.

In a second example, a market "shelf space" module will be created that allows asset managers to analyze the vast majority of fund products currently on the market, as shown in the example in Figure 20. The shelf space is organized through primary (vertical axis) and secondary (horizontal axis) strategies and can be classified and displayed using a number of different fund assessments, such as compensation portfolio 612, risk assessment, and capital flow. In the example in Figure 20, the investment strategy is classified from highest to lowest through three-year risk-adjusted returns and shows the number of funds in each major and secondary strategy portfolio.

In a third example, a reward attribution module is generated. Based on the primary and secondary investment strategies employed, and the specific elements that managers are concerned about or not paying attention to, they can be used for attribution of fund compensation performance. This is different from the current method of vesting rewards for the characteristics of assets held by managers (eg, corporate market capitalization, PE, departments, industries, etc.), and an example of attribution of investment strategy returns is shown in FIG. Fund remuneration - -14.25% was analysed to determine the various contributing factors to the remuneration. Overall compensation - -10.25% is the average or weighted reward for the SBI peer group of the main investment strategy. The valuation index Alpha is 1.23%. Subtracting the overall compensation and valuation index from the fund's compensation Alpha produced 2.77% of the fund Alpha. Contributions from each element related to the selected fund The offer is thus determined. Element 1 remuneration is 0.35%, and element 2 remuneration is 0.76%. Subtracting these returns from the Fund Alpha produced an unexplained Alpha 1.13%. Unlike the feature block approach, this type of reward attribution allows the rewards of selected funds to be tracked relative to other funds in the SBI peer group.

In a fourth example, a strategy tracker is generated. This assessment is based on the average holdings of other funds that use the primary and secondary investment strategies associated with the selected fund, based on the holdings of a selected fund. This will provide an objective time series measurement of how one manager adopts the consistency of the fund's main strategy. Investors and others will use the magnitude detection strategy to drift and hire a new fund manager to influence the strategy. It will be appreciated that the policy tracker can provide a policy consistency magnitude that is an indication of how closely the selected fund or its manager closely follows the relevant alpha group drift. The closer the investor follows the remuneration alpha group, the better the investor's performance, which is considered a general rule.

In a fifth example, an asset is classified by the investment strategy of the manager of the managed asset.

Exemplary systems and methods of the present invention are described in terms of a financial analysis and planning system. However, in order to avoid unnecessarily obscuring the present invention, the foregoing description omits some known structures and devices. This omission should not be construed as limiting the scope of the claimed invention. Specific details have been set forth to provide an understanding of the invention. However, it is to be understood that the invention may be embodied in a variety of forms other than the specific details set forth herein.

Moreover, although the exemplary embodiments described herein show the configuration system Various components, but some components of the system can be placed remotely on a decentralized network, such as a local area network (LAN) and/or a remote portion of the Internet, or within a dedicated system. Thus, it should be understood that elements of the system can be combined into one or more devices, such as a common platform or distributed over a distributed network such as an analog and/or digital communication network, a packet switched network, or a circuit switched network. A specific node of the road. It will be understood from the following description that, for computational efficiency considerations, elements of the system can be arranged anywhere in a decentralized network of components without affecting the operation of the system. For example, various components can be placed in a switch, such as a private branch exchange (PBX) and media server, gateway, in one or more communication devices, in one or more user premises, or some combination. Likewise, one or more functional portions of the system can be distributed between a communication device and an associated computer device.

Furthermore, it should be understood that the various links of the connecting elements may be wired or wireless links or any combination thereof, or any other known means capable of providing and/or communicating information from the connected elements to the connected elements. Or components developed later. These wired or wireless links can also be secure links and can be capable of transmitting encrypted information. For example, the transmission medium used as a link may be a suitable carrier for any electrical signal, including coaxial cables, copper wire and fiber optics, and may take the form of acoustic or light waves, such as those produced during radio wave and infrared data communication.

Meanwhile, although these flowcharts are discussed and illustrated for a particular sequence of events, it should be understood that changes, additions, and omissions to the sequence are not inherently influential to the operation of the present invention. Can happen.

Some variations and modifications of the invention may be used. It is possible to provide some features of the invention without providing others.

For example, in an alternative embodiment, different sets of investment strategies are used for different types of assets or securities. It will be understood that the investment strategy of a particular group or set used by the manager depends on the type of asset or security. For example, an investment strategy often used for mutual funds is different from the investment strategy used by hedge funds. In order to accommodate changes in investment strategies, the present invention may use an asset or securities type identifier to identify investment strategies that apply to any given application or to a particular group or set of users. This identifier can be further used to classify assets or securities in the data structure and to allocate assets and securities to the same group.

In still another alternative embodiment, the system and method of the present invention can be combined with a dedicated computer, a programmable microprocessor or microcontroller, peripheral integrated circuit components, a dedicated integrated circuit (ASIC) or other product. Body circuit, a digital signal processor, a hardwired electronic or logic circuit, such as a discrete unit circuit, a programmable logic device or gate array, such as a PLD, PLA, FPGA, PAL, a dedicated computer, any comparison device or Such devices are implemented. In general, any device or device capable of implementing the methods described herein can be used to implement various aspects of the present invention. Exemplary hardware that can be used with the present invention include computers, handheld devices, telephones (e.g., cellular, Internet enabled, digital, analog, hybrid, and others), as well as other hard known in the art. body. Some of these devices include a processor (eg, a single or multiple microprocessors), memory, non- Volatile reservoir, input device, and output device. Moreover, alternative software implementations include, but are not limited to, decentralized processing or component/object decentralized processing, parallel processing, or virtual machine processing can also be embedded to implement the methods described herein.

The term "computer-readable medium" as used herein refers to any tangible storage and/or transmission medium that participates in providing instructions to a processor for execution. Such media can take many forms, including but not limited to non-volatile media, volatile media, and transmission media. Non-volatile media includes, for example, NVRAM, magnetic disks or optical discs. Volatile media includes dynamic memory such as main memory.

Common forms of computer readable media include, for example, floppy disks, floppy disks, hard disks, magnetic tape, any other magnetic media, magneto-optical media, a CD-ROM, any other optical media, Hole card, tape, any other physical media with hole mode, a random access memory (RAM), a programmable read-only memory (PROM), an erasable program read-only memory (EPROM), a fast Flash erasable programmable read only memory (FLASH-EPROM), a solid state medium such as a memory card, any other memory chip or storage device, a carrier or any other medium readable by a computer as described below. A digital file attachment to an email or other independent information file or file group is considered to be a decentralized medium equal to a tangible storage medium. When the computer readable medium is configured as a database, it will be understood that the database can be any type of library, such as related, hierarchical, object oriented, and/or the like. Accordingly, the present invention is considered to include tangible storage media or decentralized storage media and prior art recognized, etc. Price and in lieu of media, wherein the software implementation of the present invention is stored.

In yet another embodiment, an object or object oriented software development environment that provides portable resource encoding that can be used on various computer or workstation platforms can be readily implemented in conjunction with software. In addition, the disclosed system may be implemented partially or entirely on a hardware using standard logic circuits or very large integrated circuit (VLSI) designs. Whether a software or hardware is used to implement a system consistent with the present invention depends on the speed and/or efficiency requirements of the system, the particular function, and the particular software or hardware system or microprocessor or microcomputer system employed.

In still another embodiment, the method of the present disclosure may be implemented in part in a software that can be stored on a storage medium, in a controller and memory, a dedicated computer, a microprocessor or the like. Synergistically executed on a programmable general purpose computer. In these cases, the system and method of the present invention can be implemented as a program embedded in a personal computer, such as an applet program, JAVA® or CGI script; implemented as a resource present on a server or computer workstation; Embedded in a dedicated evaluation system, system components, or one of these routines. The system can also be implemented by physically incorporating the system and/or method into a software and/or hardware system.

Although the present invention describes elements and functions implemented in the present embodiments with reference to particular standards and protocols, the invention is not limited to those standards and protocols. Other similar standards and agreements not mentioned herein are also present and are considered to be included in the present invention. In addition, the standards and agreements mentioned here and other similar standards and agreements not mentioned here are regularly substantive Replace with faster, more efficient equivalents with the same function. Those alternative standards and agreements that have the same function are considered equivalents included in the present invention.

The present invention includes, in various embodiments, elements, methods, flows, systems and/or devices, as generally described and illustrated herein, including various embodiments, sub-combinations, and sub-sets thereof. Those skilled in the art will understand how to make and use the invention after understanding the disclosure. The present invention includes, in various embodiments, in the absence of an item not described and/or illustrated herein, or in various embodiments herein, including the absence of one that may be used in prior devices or processes, for example, Provide equipment and processing in the context of improving performance, mitigating and/or reducing implementation cost projects.

The above discussion of the invention has been presented for purposes of illustration and description. The above is not intended to limit one or some of the forms disclosed herein. In the above Detailed Description, for example, various features of the invention are disclosed in one or more embodiments. Features of embodiments of the invention may be incorporated into additional embodiments in addition to those discussed above. The method of disclosure is not to be construed as reflecting that the claimed invention requires more features than those explicitly recited in each of the claims. Rather, the scope of the invention as reflected in the following claims is less than all features of a single disclosed embodiment, and thus the scope of the following claims is hereby incorporated by reference. Each of the ranges is itself an independent preferred embodiment of the invention.

Moreover, although the description of the invention has included one or more implementations Other variations, combinations, and modifications are also within the scope of the invention, as well as within the scope of ordinary skill of the art, as the understanding of the disclosure. It is intended to cover such alternatives, including alternative, alternative, alternatives, functions, ranges, or steps, The equivalent structure, function, scope or steps are disclosed here and are not intended to disclose any patent related matters.

200‧‧‧ Ring

204‧‧‧Strategy Triangle

300‧‧‧Strategy-Based Investment (SBI) System

304‧‧‧Enterprise Network

308‧‧‧Distributed processing network

312a‧‧‧n...first, second...nth server

316a‧‧‧n...first, second,...nth database

320‧‧‧Investment Advisory Platform

324‧‧‧Investment Manager Platform

328‧‧‧Investment Advisory Platform

332‧‧‧Other user platforms

336‧‧‧Software Control Server

340‧‧‧ memory

344‧‧‧ processor

348‧‧‧Strategy database

352‧‧‧Strategic Rating Consistent Database

356‧‧‧SBI input database

360‧‧‧Local Area Network (LAN)

360‧‧‧Manager Search Module

364‧‧‧Performance Analysis Module

368‧‧‧ Portfolio Manager Module

372‧‧‧Overall solution module

376‧‧‧Strategy Database Management Module

380‧‧‧Strategy Tracking Module

384‧‧‧ Platform Integration Module

400‧‧‧ display

404‧‧‧ Stock Code Search

408‧‧‧Fund name inquiry

412‧‧‧Stock category

416‧‧‧ main strategy

420‧‧‧ secondary strategy

424‧‧‧Diamond Rating

428‧‧‧ Looking for images

432‧‧‧Search images

500‧‧‧Window

504‧‧‧Add to portfolio

508‧‧‧Add to list

512‧‧‧View Fund Report

516‧‧‧Select list

600‧‧‧ display

604‧‧‧Strategic diversification

608‧‧‧Strategy boundary

610‧‧‧ Target Portfolio

612‧‧‧ Selected remuneration

614‧‧‧ Current risk (slide) setting

616‧‧‧ Target portfolio remuneration and risk setting

620‧‧‧ investment strategy

624‧‧‧ "Assumption" portfolio weighting

628‧‧‧ Target portfolio weighting

632‧‧‧ relative differences

636‧‧‧List of selected securities

640‧‧‧Strategy boundary curve

644‧‧‧ Fund Selection Block

648‧‧‧ Target image

652‧‧‧ current image

656‧‧‧One-way down arrow

658‧‧‧Two-way down arrow

660‧‧‧One-way up arrow

662‧‧‧Two-way up arrow

664‧‧‧ "Assumption" portfolio

668‧‧‧A padlock image

672‧‧‧Strategic boundary plan

680‧‧‧ Portfolio record

700‧‧‧Screen display

704‧‧‧Bounce window display

800‧‧‧Screen display

804‧‧‧ Risk setting

900‧‧‧Screen display

904‧‧‧Update chart image

908‧‧‧Abandon image

1000‧‧‧Screen display

1004‧‧‧Drawdown display

1010‧‧‧Deep-down display

1014‧‧‧Fund list

1100‧‧‧Screen display

1104‧‧‧ "Assumption" column

1108‧‧‧ "Assumption" Portfolio Image

1112‧‧‧ current portfolio image

1300‧‧‧Screen display

1400‧‧‧Screen display

1404‧‧‧Drawdown menu

1408‧‧‧ Asset class

1412‧‧‧ asset class boundary curve

1 is a prior art description of the relationship between an efficiency boundary, a capital market line, and a tangent portfolio; FIG. 2 is a screen display diagram depicting a complementary ring in accordance with an embodiment of the present invention; One embodiment describes a block diagram of a configuration; FIG. 4 is a screen display diagram of an embodiment of the present invention; FIG. 5 is a screen display diagram of an embodiment of the present invention; and FIG. 6 is an embodiment of the present invention; A screen display diagram; FIG. 7 is a screen display diagram of an embodiment of the invention; FIG. 8 is a screen display diagram of an embodiment of the invention; and FIG. 9 is a screen display diagram of an embodiment of the invention. FIG. 10 is a screen display diagram of an embodiment of the present invention; FIG. 11 is a screen display diagram of an embodiment of the present invention; FIG. 12 is a transaction report according to an embodiment of the present invention; A screen display diagram of one embodiment of the invention; Figure 14 is a screen display diagram of an embodiment of the present invention; Figure 15 is a flow chart of one embodiment of the present invention; Figure 16 is a flow chart of one embodiment of the present invention; and Figure 17 is a flowchart of the present invention. 1 is a flow chart of an embodiment of the present invention; FIG. 19 is a flow chart of an embodiment of the present invention; and FIG. 20 is a screen display diagram of an embodiment of the present invention; And Fig. 21 is a screen display diagram of an embodiment of the present invention.

200‧‧‧ Ring

204‧‧‧Strategy Triangle

Claims (62)

A method for investment classification, comprising the steps of: (a) selecting a first manager by a computer processor executable policy database management module, the first manager managing a first management security; (b) obtaining, by the computer processor, a policy database management module, information describing a policy profile of the selected one of the first managers, wherein the information is from the first managed securities and/or Prepared by a manager or his representative; (c) by using the computer processor to execute the policy database management module and by keyword search for the information, three or more of the following elements are reflected: Fundamental strength, market positioning defensiveness, management quality, innovation, gross domestic product, interest rate, monetary policy, company growth rate, compensation growth rate, sustainable growth rate, accelerated growth rate, technical analysis, chart, momentum, Compensation, price model, profitability, financial strength, return on equity, return on investment, stochastic model, quantitative method, statistical model, business risk, control risk, market risk, social responsibility , political issues and religious issues; (d) by the computer processor executable strategy database management module and from the identified element group, the first manager of the first management security is determined to be different first And the second investment strategy, wherein the first and second investment strategies are competitive position strategies, economic status investment strategies, future growth investment strategies, market environment investment strategies, opportunity investment strategies, profitable investment strategies, and quantitative investment strategies. Venture capital policy Slightly, socially consider one of the investment strategy and value investment strategy; and (e) classify the first manager as the first decision made by the computer processor executable policy database management module With the second investment strategy. The method of claim 1, wherein the identified element group comprises a plurality of basic forces, market positioning defensiveness, management quality, and innovation, and wherein the investment strategy is performed by the first manager a competitive position strategy, and the method further comprising: (f) providing at least one of the first and second investment strategies to the first manager for interpreting the input; and (g) responding to the first The manager receives the explanation input, and the computer manager can perform the strategy database management module to classify the first manager as a third investment strategy different from the first and second investment strategies. The method of claim 1, wherein the identified element group includes a plurality of domestic production gross, interest rate, and monetary policies, and wherein the investment strategy performed by the first manager is an economic status investment strategy. And the method further comprising: (f) providing at least one of the first and second investment strategies to the first manager for interpreting the input; and (g) responding to receipt from the first manager Interpreting the input, by the computer processor executing the policy database management module, reclassifying the first manager as performing one of the first and second investment strategies The third investment strategy. The method of claim 1, wherein the identified set of elements comprises a plurality of total company growth rates over a selected time period, a profit growth rate during the selected time period, during the selected time period The sustainable growth rate and the accelerated growth rate during the selected time period, and wherein the investment strategy conducted by the first manager is a future growth investment strategy, and the method further includes: (f) providing the first At least one of the first and second investment strategies is for the first manager to interpret the input; and (g) is responsive to receipt of the interpretation input from the first manager, by the computer processor executing the policy material The library management module reclassifies the first manager as performing a third investment strategy different from the first and second investment strategies. The method of claim 1, wherein the identified element group includes a plurality of technical analysis, charts, and momentum, and wherein the investment strategy performed by the first manager is a market environment investment strategy, and The method further includes: (f) providing at least one of the first and second investment strategies to the first manager for interpreting the input; and (g) responding to receiving an interpreted input from the first manager The first processor is reclassified as performing a third investment strategy different from the first and second investment strategies by the computer processor executing the policy database management module. The method of claim 1, wherein the identified element The group includes at least one of a compensation accident and a price model, and wherein the investment strategy conducted by the first manager is an opportunity investment strategy, and the method further comprises: (f) providing the first and second investment strategies At least one of the first manager is provided for interpreting the input; and (g) is responsive to receipt of the interpretation input from the first manager, by the computer processor executing the policy database management module, The first manager is classified as performing a third investment strategy different from the first and second investment strategies. The method of claim 1, wherein the identified element group includes a plurality of profit, financial, return on equity, and return on investment, and wherein the investment strategy is performed by the first manager a profitable investment strategy, and the method further comprising: (f) providing at least one of the first and second investment strategies to the first manager for interpreting the input; and (g) responding to the A manager receives an explanation input, and the computer manager can perform the strategy database management module to classify the first manager as a third investment strategy different from the first and second investment strategies. The method of claim 1, wherein the identified element set includes a plurality of stochastic model rates, a quantitative method, and a statistical model, and wherein the investment strategy performed by the first manager is a quantitative investment strategy, And the method further comprises: (f) providing at least one of the first and second investment strategies to the The first manager is used to interpret the input; and (g) the response is received from the first manager, and the first manager is reclassified by the computer processor executing the policy database management module To conduct a third investment strategy different from the first and second investment strategies. The method of claim 1, wherein the identified element group includes a plurality of business risk ratios, control risks, and market risks, and wherein the investment strategy performed by the first manager is a risk investment strategy, And the method further comprises: (f) providing at least one of the first and second investment strategies to the first manager for interpreting the input; and (g) responding to the interpretation received from the first manager Inputting, by the computer processor executing the policy database management module, reclassifying the first manager as performing a third investment strategy different from the first and second investment strategies. The method of claim 1, wherein the identified element group includes a plurality of social responsibility, political issues, and religious issues, and wherein the investment strategy performed by the first manager is a social factor consideration strategy, And the method further comprises: (f) providing at least one of the first and second investment strategies to the first manager for interpreting the input; and (g) responding to the interpretation received from the first manager Input, by the computer processor executing the policy database management module, reclassifying the first manager as performing one of the first and second investment strategies The third investment strategy. The method of claim 1, wherein the identified element group comprises a plurality of price ratios, a reverse operation investor, and a cash flow valuation, and wherein the investment strategy by the first manager is an estimate An investment strategy, and the method further comprising: (f) providing at least one of the first and second investment strategies to the first manager for interpreting input; and (g) responding to the first manager Upon receipt of the interpretation input, the first processor is reclassified as performing a third investment strategy different from the first and second investment strategies by the computer processor executing the policy database management module. The method of claim 1, further comprising the steps of: (f) receiving a selected reward and risk from a user; (g) automatically determining a risk reward based on the selected reward and risk; An efficiency boundary; (h) based on the level of the selected risk, the processor determines a tangent portfolio that has an allocation weight between a set of asset classes and/or members of a set of investment strategies; (i) determining, by the processor, a difference between the tangent portfolio and a user selected portfolio; and (j) providing the difference to the user by the processor. The method of claim 12, wherein the step (g) and the step (h) comprise the following sub-steps: (i) determining, by the processor, the level of the selected risk to determine the monopoly capital a portfolio of investments; (ii) determining, by the processor, allocation weightings, expected returns, and risks between members of the set of asset classes and/or investment strategy groups for selected points along the efficiency boundary; and (iii) For this tangent portfolio and by the processor, the allocation weights, expected returns and risks between the members of the group of asset classes and/or investment strategy groups are determined. The method of claim 13, further comprising the steps of: (iv) determining a diversification assessment for the selected asset portfolio; and (v) providing the diversification assessment to the user. The method of claim 1, further comprising the steps of: (f) providing, by the processor, a plurality of investment strategies to a user, each investment strategy comprising a set of management securities; and (g) by the The processor provides the user with a consistency assessment for each of the securities in the group of management securities, the assessment indicating the extent to which each manager follows the corresponding investment strategy. The method of claim 12, wherein the step (g) and the step (h) comprise the following sub-steps: (i) determining, by the processor, the monopolistic asset investment portfolio using the selected risk level; (ii) Determining, by the processor, allocation weightings, expected rewards, and risks between members of the set of asset classes and/or investment strategies for selected points along the efficiency boundary; (iii) for the tangent portfolio and by the Processor, decided on the group Distribution weighting, expected rewards and risks between members of the production category and/or investment strategy group; (iv) determining, by the processor, a diversification assessment for the selected portfolio; and (v) by the processor This diversification is provided to the user. The method of claim 12, wherein the group of investment strategies is used in step (h), and further comprising: (k) being at least one investment strategy and determining at least one different investment strategy by the processor And (1) providing the at least one different investment strategy to the user by the processor. The method of claim 1, further comprising the steps of: (f) selecting, by the processor, a group of managers and/or securities for each investment strategy, each manager and/or securities having a phase Corresponding consistency assessment indicating the degree to which the security and/or its manager comply with the consistency of the photographic investment strategy; (g) receiving at least one investment strategy from the user in the selected portfolio The asset allocation weighted change to form a changed selected portfolio; (h) the processor determines the difference between the tangent portfolio and the selected selected portfolio; and (i) provided by the processor This difference in step (h) is given to the user. The method of claim 18, wherein the step (h) comprises the following substeps: (H1) recalculating the asset allocation weights of the members of the set of investment strategies by the processor to reflect the change; and (H2) providing each of the investment strategies and the tangent portfolio and the selection of the change by the processor A numerical indicator of the difference between portfolios. A method for investment classification comprising the steps of: (a) selecting a first management security and/or manager by executing a policy database management module by a computer processor; (b) by using the computer The processor executables a policy database management module to receive information describing the selected first management security and/or describing a policy profile for the selected one of the managers, wherein the information is determined by the first management security and / or prepared by the manager or his representative; (c) the computer processor executable policy database management module, in describing the information of the selected management securities and / or managers and the following elements in the information Establish a correspondence between three or more elements: basic strength, market positioning defensiveness, management quality, innovation, gross domestic product, interest rate, monetary policy, company growth rate, compensation growth rate, sustainable growth rate , accelerated growth rate, technical analysis, charts, momentum, compensation accidents, price models, profitability, financial strength, return on equity, return on investment, stochastic models, quantitative methods, statistical models , business risk, control risk, market risk, social responsibility, political issues and religious issues; (d) by the computer processor executable strategy database management module and from the identified element group, the first management securities And/or an investment strategy undertaken by the manager, where the investment strategy is a competitive position Strategy, economic status investment strategy, future growth investment strategy, market environment investment strategy, opportunity investment strategy, profitable investment strategy, quantitative investment strategy, venture capital strategy, social factor consideration investment strategy and value investment strategy; (e) classifying the first managed securities and/or managers as performing the determined investment strategy by the computer processor executing the policy database management module; and (f) providing the first and second investments At least one of the strategies is for the first managed security and/or manager to interpret the input. The method of claim 20, wherein the identified element group comprises a plurality of basic forces, market positioning defensiveness, management quality, and innovation, and wherein the first managed securities and/or managers are The investment strategy is a competitive location strategy, and wherein in step (e), the computer processor executes a policy database management module to classify the first management securities and/or managers as follows: a first investment strategy A major investment strategy and a different second investment strategy are one investment strategy. The method of claim 20, wherein the identified element group comprises a plurality of domestic production gross, interest rate, and monetary policies, and wherein the investment strategy is performed by the first managed securities and/or managers An economic status investment strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first management securities and/or managers as a primary investment strategy as a primary investment strategy The strategy and a different second investment strategy are one investment strategy. The method of claim 20, wherein the identified element The group includes a plurality of total company growth rates over a selected time period, a profit growth rate during the selected time period, a sustainable growth rate during the selected time period, and an accelerated growth rate during the selected time period, And wherein the investment strategy carried out by the first management security and/or the manager is a future growth investment strategy, and wherein in step (e), the computer processor can execute the policy database management module to the first management The securities and/or manager classification is as follows: a first investment strategy is a major investment strategy and a different second investment strategy is a primary investment strategy. The method of claim 20, wherein the identified set of elements comprises a plurality of technical analyses, charts, and momentum, and wherein the investment strategy by the first managed securities and/or manager is a market An environmental investment strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first management securities and/or managers as follows: a first investment strategy is a major investment strategy and A different second investment strategy is a one-time investment strategy. The method of claim 20, wherein the identified element group comprises at least one of a compensation accident and a price model, and wherein the investment strategy is performed by the first managed securities and/or manager An opportunity investment strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first management securities and/or managers as follows: a first investment strategy is a major investment strategy and A different second investment strategy is a one-time investment strategy. The method of claim 20, wherein the identified element group comprises a plurality of profit, financial, return on equity, and investment compensation And the investment strategy carried out by the first managed securities and/or the manager is a profit investment strategy, and wherein in step (e), the computer processor executable policy database management module The first management securities and/or manager classification is as follows: a first investment strategy is a primary investment strategy and a different second investment strategy is a primary investment strategy. The method of claim 20, wherein the identified set of elements comprises a plurality of stochastic model rates, a quantitative method, and a statistical model, and wherein the investment strategy is performed by the first managed securities and/or managers Is a quantitative investment strategy, and wherein in step (e), the computer processor can execute the policy database management module to classify the first management securities and/or managers as follows: a first investment strategy as a main investment strategy And a different second investment strategy is a one-time investment strategy. The method of claim 20, wherein the identified element group comprises a plurality of commercial risk ratios, control risks, and market risks, and wherein the investment strategy is performed by the first managed securities and/or managers a risk investment strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first management securities and/or managers as follows: a first investment strategy as a main investment strategy And a different second investment strategy is a one-time investment strategy. The method of claim 20, wherein the identified element group comprises a plurality of social responsibility, political issues, and religious issues, and wherein the investment strategy is performed by the first managed securities and/or managers Social factors consider an investment strategy, and wherein in step (e), the computer processor executes a policy database management module to the first managed securities and/or The manager classification is as follows: a first investment strategy is a major investment strategy and a different second investment strategy is a primary investment strategy. The method of claim 20, wherein the identified set of elements comprises a plurality of price ratios, reverse operating investors, and cash flow estimates, and wherein the first managed securities and/or managers perform The investment strategy is an evaluation investment strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first management securities and/or managers as follows: The main investment strategy and a different second investment strategy are the one-time investment strategy. The method of claim 20, further comprising the steps of: (f) receiving a selected reward and risk from a user; (g) automatically determining a risk reward based on the selected reward and risk; An efficiency boundary; (h) based on the level of the selected risk, the processor determines a tangent portfolio that has an allocation weight between a set of asset classes and/or members of a set of investment strategies; (i) determining, by the processor, a difference between the tangent portfolio and a user selected portfolio; and (j) providing the difference to the user by the processor. The method of claim 31, wherein steps (g) and (h) comprise the following sub-steps: (i) determining, by the processor, the monopolistic asset investment portfolio using the selected risk level; (ii) The processor is targeted at selected points along the efficiency boundary Assignment weighting, expected remuneration and risk between the members of the group of asset classes and/or investment strategy groups; (iii) for the tangible portfolio and by the processor, determining the asset class and/or investment in the group (1) determining a diversification assessment for the selected asset portfolio; and (v) providing the diversification assessment to the user. The method of claim 20, further comprising the steps of: (f) providing, by the processor, a plurality of investment strategies to a user, each investment strategy comprising a set of management securities; and (g) by the The processor provides the user with a consistency assessment for each of the securities in the group of management securities, the assessment indicating the extent to which each manager follows the corresponding investment strategy. The method of claim 31, wherein the step (g) and the step (h) comprise the following sub-steps: (i) determining, by the processor, the monopolistic asset investment portfolio using the selected risk level; (ii) Determining, by the processor, allocation weightings, expected rewards, and risks between members of the set of asset classes and/or investment strategies for selected points along the efficiency boundary; (iii) for the tangent portfolio and by the a processor that determines allocation weighting, expected rewards, and risks between members of the set of asset classes and/or investment strategy groups; (iv) determining, by the processor, a diversification review for the selected portfolio And (v) providing the diversification assessment to the user by the processor. The method of claim 31, wherein the group of investment strategies is used in step (h), and further comprising: (k) selecting, by the processor, a set of securities for each investment strategy, each security There is a corresponding consistency measure that indicates the extent to which the security and/or its manager are consistent with the photographic associated investment strategy. The method of claim 31, wherein the group of investment strategies is used in step (h), and further comprising: (k) being at least one investment strategy and determining at least one different investment strategy by the processor And (1) providing the at least one different investment strategy to the user by the processor. The method of claim 20, further comprising the steps of: (f) selecting, by the processor, a group of managers and/or securities for each investment strategy, each manager and/or securities having a phase Corresponding consistency assessment indicating the degree to which the security and/or its manager comply with the consistency of the photographic investment strategy; (g) receiving at least one investment strategy from the user in the selected portfolio a change in the weighting of the asset allocation to form a changed selected portfolio; (h) determining, by the processor, the difference between the tangent portfolio and the selected portfolio of the change; (i) The processor provides the difference in step (h) to the user. The method of claim 20, wherein the step (h) comprises the following substeps: (H1) recalculating the asset allocation weight of the members of the group of investment strategies by the processor to reflect the change; and (H2) A numerical indicator for each investment strategy and the difference between the tangent portfolio and the selected portfolio of the change provided by the processor. A machine for investment classification, comprising: at least one computer processor operable to: (a) select a first manager of a first managed security; (b) receive a description of the selected one Information about a strategic profile of a manager who is prepared by the first managed securities and/or manager or his representative; (c) reflects the information to three or more of the following elements : Fundamental strength, market positioning defensiveness, management quality, innovation, gross domestic product, interest rate, monetary policy, company growth rate, compensation growth rate, sustainable growth rate, accelerated growth rate, technical analysis, chart, momentum , compensation accidents, price models, profitability, financial strength, return on equity, return on investment, stochastic models, quantitative methods, statistical models, business risks, control risks, market risks, social responsibility, political issues, and religious issues; Determining, from an identified element group, different first and second investment strategies by the first manager of the first management security, wherein the first and second investment strategies Each is a competitive position strategy, economic situation One of the strategies of capital strategy, future growth investment strategy, market environment investment strategy, opportunity investment strategy, profitable investment strategy, quantitative investment strategy, venture capital strategy, social factor consideration investment strategy and value investment strategy; and, (e) The first manager is classified as performing the determined first and second investment strategies. The machine of claim 39, wherein the identified element group comprises a plurality of basic forces, market positioning defensiveness, management quality, innovation, and wherein the first managed securities and/or managers are The investment strategy performed is a competitive location strategy, and wherein the computer processor is operable to: (f) provide at least one of the first and second investment strategies to the first manager for interpretation Entering; and (g) responding to the interpretation input received from the first manager, by re-classifying the first manager to perform a different interpretation than the first One of the second investment strategies is the third investment strategy. The machine of claim 39, wherein the identified element group comprises a plurality of domestic production gross, interest rate, and monetary policies, and wherein the investment strategy is performed by the first managed securities and/or managers An economic condition investment strategy, and wherein the computer processor is operative to: (f) provide at least one of the first and second investment strategies to the first manager for interpreting input; (g) in response to receiving an explanatory input from the first manager, by re-classifying the first manager to perform a different investment than the first and second investments by the computer processor executing the policy database management module One of the strategies of the third investment strategy. The machine of claim 39, wherein the identified set of elements comprises a plurality of total company growth rates over a selected time period, a profit growth rate during the selected time period, during the selected time period Sustainable growth rate and accelerated growth rate during the selected time period, wherein the investment strategy carried out by the first managed securities and/or managers is a future growth investment strategy, and wherein the computer processor is operable To complete the following operations: (f) providing at least one of the first and second investment strategies for the first manager to interpret the input; and (g) responding to the interpretation input received from the first manager The first processor is reclassified as performing a third investment strategy different from the first and second investment strategies by the computer processor executing the policy database management module. The machine of claim 39, wherein the identified element group comprises a plurality of technical analysis, charts and momentum, wherein the investment strategy carried out by the first management securities and/or the manager is a market environment An investment strategy, and wherein the computer processor is operative to: (f) provide at least one of the first and second investment strategies to the first manager for interpreting the input; (g) in response to receiving an explanatory input from the first manager, by re-classifying the first manager to perform a different investment than the first and second investments by the computer processor executing the policy database management module One of the strategies of the third investment strategy. The machine of claim 39, wherein the identified element group comprises at least one of a compensation accident and a price model, wherein the investment strategy is performed by the first managed securities and/or the manager An investment strategy, and wherein the computer processor is operative to: (f) provide at least one of the first and second investment strategies to the first manager for interpreting input; and (g) Responding to receiving the interpretation input from the first manager, the computer manager can re-classify the first manager as performing one of the first and second investment strategies by executing the policy database management module The third investment strategy. The machine of claim 39, wherein the identified element group comprises a plurality of profit margins, financial power, return on equity, and return on investment, wherein the first managed securities and/or managers perform The investment strategy is a profitable investment strategy, and wherein the computer processor is operable to: (f) provide at least one of the first and second investment strategies to the first manager for Interpreting the input; and (g) responding to the interpretation input received from the first manager, by re-executing the first The manager is classified as performing a third investment strategy different from the first and second investment strategies. The machine of claim 39, wherein the identified set of elements comprises a plurality of stochastic model rates, a quantitative method, and a statistical model, wherein the investment strategy is performed by the first managed securities and/or managers Quantitative investment strategy, and wherein the computer processor is operative to: (f) provide at least one of the first and second investment strategies to the first manager for interpreting input; and (g Responding to the receipt of the interpretation input from the first manager, the computer manager can perform the strategy database management module to reclassify the first manager as performing the first and second investment strategies. A third investment strategy. The machine of claim 39, wherein the identified element group comprises a plurality of commercial risk ratios, control risks, and market risks, wherein the investment strategy is performed by the first managed securities and/or managers a risk investment strategy, and wherein the computer processor is operative to: (f) provide at least one of the first and second investment strategies to the first manager for interpreting the input; and (g Responding to the receipt of the interpretation input from the first manager, the computer manager can perform the strategy database management module to reclassify the first manager as performing the first and second investment strategies. A third investment strategy. The machine of claim 39, wherein the identified element group comprises a plurality of social responsibility, political issues, and religious issues, and wherein the investment strategy is performed by the first managed securities and/or managers Social factors consider an investment strategy, and wherein the computer processor is operative to: (f) provide at least one of the first and second investment strategies to the first manager for interpreting input; (g) in response to receiving an explanatory input from the first manager, by re-classifying the first manager to perform a different investment than the first and second investments by the computer processor executing the policy database management module One of the strategies of the third investment strategy. The machine of claim 39, wherein the identified element group comprises a plurality of price ratios, a reverse operating investor, and a cash flow valuation, wherein the first managed securities and/or the manager An investment strategy is an valuation investment strategy, and wherein the computer processor is operative to: (f) provide at least one of the first and second investment strategies to the first manager for interpreting input; And (g) responding to the interpretation input received from the first manager, by re-classifying the first manager as performing the first and second by the computer processor executing the policy database management module One of the investment strategies is the third investment strategy. A computer program product comprising computer processor executable instructions encoded on a computer readable medium, the instructions being executable by the processor The processor performs the following operations: (a) selecting a first management security and/or manager; (b) receiving the first management security describing the selection and/or describing a policy profile for the selected manager Information, where the information is prepared by the first managed securities and/or managers or their representatives; (c) establishes a correspondence between the information and three or more of the following elements: basic strength, market Positioning defensiveness, management quality, innovation, gross domestic product, interest rate, monetary policy, company growth rate, compensation growth rate, sustainable growth rate, accelerated growth rate, technical analysis, chart, momentum, compensation accident, price Model, profitability, financial strength, return on equity, return on investment, stochastic model, quantitative method, statistical model, business risk, control risk, market risk, social responsibility, political issues and religious issues; (d) from the identified elements Group, determining an investment strategy conducted by the first managed securities and/or managers, wherein the investment strategy is a competitive position strategy, an economic status investment strategy, and a future Long investment strategy, market environment investment strategy, opportunity investment strategy, profitable investment strategy, quantitative investment strategy, venture capital strategy, social factor consideration investment strategy and value investment strategy; (e) the first management securities And/or the manager is classified as performing the determined investment strategy; (f) providing at least one of the first and second investment strategies to the first managed securities and/or manager for interpreting the input; and g) in response to the first manager receiving an explanation input, re- The first managed securities and/or managers are classified as performing a third investment strategy that is different from the first and second investment strategies. The computer program product of claim 50, wherein the identified element group comprises a plurality of basic forces, market positioning defensiveness, management quality, and innovation, and wherein the first managed securities and/or manager The investment strategy carried out by the person is a competitive position strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first management securities and/or managers as follows: The strategy is a major investment strategy and a different second investment strategy is a one-time investment strategy. The computer program product of claim 50, wherein the identified element group includes a plurality of domestic production gross, interest rate, and monetary policies, and wherein the first managed securities and/or the manager The investment strategy is an economic status investment strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first management securities and/or managers as follows: The investment strategy and a different second investment strategy are one-time investment strategies. The computer program product of claim 50, wherein the identified element group comprises a plurality of company total growth rates over a selected time period, a profit growth rate during the selected time period, at the selected time The sustainable growth rate during the period and the accelerated growth rate during the selected time period, and wherein the investment strategy conducted by the first managed securities and/or managers is a future growth investment strategy, and wherein in the step (e ), the computer processor can execute the policy database management module to the first tube The classification of securities and/or managers is as follows: a first investment strategy is a major investment strategy and a different second investment strategy is a primary investment strategy. The computer program product of claim 50, wherein the identified element group comprises a plurality of technical analysis, charts and momentum, and wherein the investment strategy is performed by the first managed securities and/or managers A market environment investment strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first management securities and/or managers as follows: a first investment strategy is a major investment strategy And a different second investment strategy is a one-time investment strategy. The computer program product of claim 50, wherein the identified element group includes at least one of a compensation accident and a price model, and wherein the investment is performed by the first management securities and/or manager The strategy is an opportunity investment strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first management securities and/or managers as follows: a first investment strategy is a major investment strategy And a different second investment strategy is a one-time investment strategy. The computer program product of claim 50, wherein the identified element group includes a plurality of profit, financial power, return on equity, and return on investment, and wherein the first managed securities and/or manager The investment strategy is a profitable investment strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first management securities and/or managers as follows: The investment strategy is a major investment strategy and a different second investment strategy is one investment Strategy. The computer program product of claim 50, wherein the identified element set includes a plurality of random model rates, a quantitative method, and a statistical model, and wherein the first managed securities and/or the manager perform the The investment strategy is a quantitative investment strategy, and wherein in step (e), the computer processor executable policy database management module classifies the first managed securities and/or managers as a primary investment strategy as a primary investment strategy The strategy and a different second investment strategy are one investment strategy. The computer program product of claim 50, wherein the identified element group includes a plurality of commercial risk ratios, control risks, and market risks, and wherein the first managed securities and/or managers perform the The investment strategy is a venture capital strategy, and wherein in step (e), the computer processor executable strategy database management module classifies the first management securities and/or managers as a primary investment strategy as a primary investment strategy The strategy and a different second investment strategy are one investment strategy. The computer program product of claim 50, wherein the identified element group includes a plurality of social responsibility, political issues, and religious issues, and wherein the investment is performed by the first managed securities and/or manager Strategy is a social factor that considers an investment strategy, and wherein in step (e), the computer processor can execute a policy database management module to classify the first management securities and/or managers as follows: The investment strategy and a different second investment strategy are one-time investment strategies. The computer program product of claim 50, wherein the identified element group includes a plurality of price ratios, a reverse operation investor, and cash Flow valuation, and wherein the investment strategy conducted by the first managed securities and/or manager is an valuation investment strategy, and wherein in step (e), the computer processor executable policy database management module will first The management of securities and/or manager classification is as follows: a first investment strategy is a major investment strategy and a different second investment strategy is a primary investment strategy. The method of claim 12, wherein the group of investment strategies is used in step (h), and further comprising: (k) selecting, by the processor, a set of securities for each investment strategy, each security There is a corresponding consistency measure that indicates the extent to which the security and/or its manager is consistent with the photographic associated investment strategy. The method of claim 20, further comprising the steps of: (g) responding to receipt of an interpretation input from the first managed securities and/or manager, by using the computer processor to execute a policy database management The module reclassifies the first managed securities and/or managers as performing a third investment strategy different from the first and second investment strategies.