WO2010124332A1 - An alert system - Google Patents

An alert system Download PDF

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WO2010124332A1
WO2010124332A1 PCT/AU2010/000491 AU2010000491W WO2010124332A1 WO 2010124332 A1 WO2010124332 A1 WO 2010124332A1 AU 2010000491 W AU2010000491 W AU 2010000491W WO 2010124332 A1 WO2010124332 A1 WO 2010124332A1
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user
data
products
product
value
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PCT/AU2010/000491
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French (fr)
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Peter Morrison-Dowd
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Hopkins Pass Pty Ltd
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    • GPHYSICS
    • G06COMPUTING; CALCULATING; COUNTING
    • G06QDATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/06Investment, e.g. financial instruments, portfolio management or fund management

Abstract

An alert system, including at least one processing module configured to i) access source data for one or more different investment products; ii) generate, based on said source data, product data including data representing a change in one or more predefined attributes of said products; iii) access, from a data store, a user's profile including data representing: (a) a portfolio of one or more of said products associated with said user, and (b) one or more parameters representing a range of values for each of said attributes; iv) select one or more of the products in said portfolio that exceed said user's threshold for risk, based on a comparison of any changes in the attributes for each product in said portfolio with the corresponding range of values specific to that product; and v) generate, for the selected said products, an alert message for informing said user of the products in said portfolio that exceed said user's threshold for risk.

Description

AN ALERT SYSTEM

FIELD

The field relates to systems and methods for monitoring investments and generating user alerts based on changes to a risk profile for such investments and the sensitivities of a user. BACKGROUND A financial investment refers to an arrangement where an investor (e.g. an entity or person) provides a sum of money to an investment vehicle with the expectation of receiving a profit or gain after a certain period of time. For example, the profit or gain from an investment may include an increase in the value of an asset over an investment period. However, investments are often associated with an element of risk representing the potential for an investment to produce an undesirable result for the investor, such as resulting in loss (e.g. a decrease in monetary value invested in an asset) or liability to the investor. Assessing such risk is difficult as it may involve considering a variety of objective factors, many of which may not be generally relevant to all types of financial transactions. Further, such assessment of risk may also depend on subjective factors, which will differ between investors as each may have different investment objectives and/or different perceptions or sensitivities to risk.

There are systems that can help inform investors of any changes to factors affecting the risk exposure of the investors' portfolio. One example is a share price monitoring system, which detect variations in the price of a specific share and generate alert messages to investors when the share price falls below (or exceeds) a predetermined price value. The message alerts the investor to take action (e.g. to sell or buy more shares) to help reduce the exposure to greater risk arising from further price variations beyond the investor's threshold. There are several problems with this approach. Price may not be the only factor affecting an investor's perception of risk. The value of an asset (e.g. a share) may depend on the value and/or performance of other underlying assets (e.g. foreign currency bonds). The risk for such assets may therefore partly depend on factors such as the type, composition or yield rate of the underlying assets, and any applicable foreign currency exchange rates. Such systems can only assess risk based on a limited set of factors (i.e. limited to price), which may produce inaccurate results since the significance of different factors affecting the risk of an investment may change over time. Another problem with such monitoring systems is that investors are required to provide specific parameters (e.g. price limits) for detecting risk. These parameters are often difficult to define as an investor may not have a thorough understanding of the factors that could affect the risk of investments in an asset. Therefore, such systems may not provide effective risk management, since its effectiveness will greatly depend on the investor's skill in selecting appropriate parameters for the system in view of the market conditions at the time.

It is therefore desired to address one or more of the above problems, or to at least provide a useful alternative to existing investment monitoring alert systems.

SUMMARY

According to a described embodiment, there is provided an alert system, including at least one processing module configured to: i) access source data for one or more different investment products; ii) generate, based on said source data, product data including data representing a change in one or more predefined attributes of said products; iii) access, from a data store, a user's profile including data representing: (a) a portfolio of one or more of said products associated with said user, and (b) one or more parameters representing a range of values for each of said attributes; iv) select one or more of the products in said portfolio that exceed said user's threshold for risk, based on a comparison of any changes in the attributes for each product in said portfolio with the corresponding range of values specific to that product; and v) generate, for the selected said products, an alert message for informing said user of the products in said portfolio that exceed said user's threshold for risk.

According to another described embodiment, there is provided an alert method, including: i) accessing source data for one or more different investment products; ii) generating in a computing device, based on said source data, product data including data representing a change in one or more predefined attributes of said products; iii) accessing, from a data store, a user's profile including data representing: (a) a portfolio of one or more of said products associated with said user, and (b) one or more parameters representing a range of values for each of said attributes; iv) selecting one or more of the products in said portfolio that exceed said user's threshold for risk, based on a comparison of any changes in the attributes for each product in said portfolio with the corresponding range of values specific to that product; and v) generating in said computer device, for the selected said products, an alert message for informing said user of the products in said portfolio that exceed said user's threshold for risk.

According to yet another described embodiment, there is provided a computer program product, comprising a computer readable storage medium having computer executable program code embodied therein, said computer-executable program code adapted for controlling at least one processor to perform an alert method, said method including: i) accessing source data for one or more different investment products; ii) generating in a computing device, based on said source data, product data including data representing a change in one or more predefined attributes of said products; iii) accessing, from a data store, a user's profile including data representing: (a) a portfolio of one or more of said products associated with said user, and (b) one or more parameters representing a range of values for each of said attributes; iv) selecting one or more of the products in said portfolio that exceed said user's threshold for risk, based on a comparison of any changes in the attributes for each product in said portfolio with the corresponding range of values specific to that product; and v) generating in said computer device, for the selected said products, an alert message for informing said user of the products in said portfolio that exceed said user's threshold for risk.

BRIEF DESCRIPTION OF THE DRAWINGS

Representative embodiments of the present invention are herein described, by way of example only, with reference to the accompanying drawings, wherein:

Figure 1 is a block diagram of the components in the alert system;

Figure 2 is a block diagram of the alert system in another configuration of use; Figure 3 is a flow diagram of a risk profile management process performed by the system;

Figure 4 is a flow diagram of an analysis process performed by the system; Figure 5 is a flow diagram of an investment management process performed by the system; and

Figures 6 to 17 are examples of graphical user interfaces generated by the system.

DETAILED DESCRIPTION OF THE REPRESENTATIVE EMBODIMENTS Figure 1 shows the components of a first representative embodiment of the alert system 100. The alert system 100 includes an alert server 106 that communicates with a database 108. The alert server 106 also communicates with one or more client devices 102 via a communications network 104 (e.g. the Internet or a wireless network). The alert server 106 is a server configured for receiving and processing requests from one or more client devices 102, and generating response data (e.g. including data representing an acknowledgment or web page) in response to such requests. The database 108 (or data store) refers to any data storage means, and may be provided by way of one or more file servers and/or database servers such as MySQL or others. The client device 102 may be a standard computer, a portable device (e.g. a laptop or mobile phone), or a specialised computing device for accomplishing monitoring and alerting as described herein.

A user controls a client device 102 to provide data to the alert server 106, including data representing the details of one or more investment products (or "product") associated with a particular user, and data representing the risk sensitivities of that user. The alert server 106 controls the database 108 to store the details as part of the user's profile data in the database 108.

The alert server 106 communicates with an external content server 110 to access source data relating to one or more investment products at predetermined or regular time intervals (e.g. on a daily basis). The external content server 110 may comprise of one or more sources of information external to the system 100 (such as one or more web servers, web services, file servers or databases that provide information accessible by the system 100). The source data accessed from the external content server 110 is used to update the product data stored in the database 108. When the alert server 106 receives new source data indicating a change in one of the predetermined attributes for the investment products represented in the product data, the alert server 106 performs analysis to determine whether the change exceeds the user's threshold for risk (e.g. based on the user's sensitivity to investment risk as represented in the user's profile data). If the change exceeds the user's threshold for risk, the alert server 106 generates an alert message (e.g. an email message or Short Message Service (SMS) message) for informing the user of the changes relating to the investment product.

In the representative embodiment shown in Figure 1 , the user receives the alert message on a particular client device 102 (e.g. a personal computer). In an alternative representative embodiment as shown in Figure 2, the user may configure the alert system 100 so as to send the alert message to a different client device 103 (e.g. the user's mobile phone or the email server for a second user nominated by the user) via the network 104

The client device 102 includes at least one processing module that operates under the control of commands or instructions generated by one or more control modules of the client device 102 (not shown in Figures 1 and 2). The alert server 106 includes at least one processing module that operates under the control of commands or instructions from one or more control modules on the alert server 106 (not shown in Figures 1 and 2). In a representative embodiment, the processors in the client device 102 and alert server 106 cooperate with each other to perform the acts in the processes shown in Figure 3 to 5. In another representative embodiment, the acts performed by the alert server 106 may instead be performed on the client device 102. The term processing module is used in this specification to refer to either a collection of one or more processors, one or more hardware components of a device, or an entire device that is configured for performing the acts in the processes shown in Figure 3 to 5.

The control modules of the client device 102 and alert server 106 may be provided by computer program code (e.g. in languages such as C, C# and Javascript). Those skilled in the art will appreciate that the processes performed by the control module can also be executed at least in part by dedicated hardware circuits, e.g. Application Specific Integrated Circuits (ASICs) or Field-Programmable Gate Arrays (FPGAs).

The alert server 106 communicates with one or more external content servers 110 to access source data for one or more investment products. An investment product refers to any asset that an investor (or user of the system 100) can make an investment of money towards. The value of an investment product may depend on the value of one or more underlying assets controlled by the investment product. An investment product may consist of a number of tradable units representing control or ownership of a predetermined discrete portion of the underlying assets of the product (e.g. shares in a company or units in a superannuation fund).

The source data includes data representing one or more characteristics of an investment product, and may include one or more of the following: 1. a current value (e.g. price) of the product;

2. a current value (e.g. price) of a tradable unit of the product;

3. the identity and nature of the underlying assets of the product; and

4. a current value of an underlying asset of the product.

The alert server 106 generates, based on the source data, product data representing the values for one or more predefined attributes for each of the investment products represented in the source data. The predefined attributes may be defined by configuration data stored in the database 108. The product data is also stored in the database 108, and may represent one or more of the following attributes of an investment product: 1. a current value (e.g. price) of the product; 2. a current value (e.g. price) of a tradable unit of the product;

3. a relative value of the assets of the product in one or more different asset classes; and

4. a relative proportion of the assets of the product in one or more different asset classes.

Items 3 and 4 of the product data can be defined by product allocation data in the product data.

An asset class refers to a selected group of one or more assets (as defined in the source data) that have similar or related characteristics. The characteristics for selection of assets for an asset class may be defined by one or more selection parameters in the configuration data stored in the database 108. The characteristics unique to each asset class may be based on criteria such as:

• asset performance which may involve classifying whether the asset is a growth asset or defensive asset; or

• asset type (or category) which may involve classifying the asset into one of several predetermined categories including: (i) cash assets, (ii) domestic fixed interest assets, (iii) international fixed interest assets, (iv) domestic property assets, (v) domestic share assets, and (vi) international share assets. A domestic asset refers to an asset held or existing in a nominated jurisdiction (e.g. the jurisdiction in which the user of the system 100 resides). An international asset refers to an asset held or existing in a jurisdiction other than the nominated jurisdiction.

After the product data has been generated by the alert server 106 and stored in the database 108, the product data can be accessed and updated by the alert server 106 to include any changes to the values of the attributes based on any new source data accessed by the alert server 106.

The client device 102 (operating under the control of a user) can provide various types of data to the alert server 106. For example, the alert server 106 may receive personal data representing personal details of the user as part of the user's initial registration process with the system 100. The alert server 106 controls the database 108 to store these personal details as part of a user's profile data in the database 108. A user's profile data may include: • personal data representing personal details of the user. These details may include user authentication details (e.g. a unique user identifier and password), details contact address, billing address, contact number, gender, income bracket, contact details of the user's financial adviser/planner, a consent authorisation allowing the system 100 to generate alert messages to the user's financial adviser/planner; • portfolio data representing the details of one or more investment products that the user wishes to monitor using the system 100. These details may include a unique product identifier, product name, details of any transactions (e.g. including the date, time and number of units bought or sold), and any other user-specific parameters associated with each investment product; and • risk profile data representing the user's sensitivity to investment risk (e.g. based on data representing a total score value, risk category and/or risk allocation as described below).

The risk profile data may represent the user's sensitivity to risk in different ways. In one representative embodiment, the risk profile data represents a number (e.g. a total score value) generated by the alert server 106 based on the user's selected response to one or more questions (or activities or challenges) for assessing the user's likely investment period, investment objectives, expected outcome from investments, and likely sensitivity or aversion to investment risk (e.g. the risk of a loss in the value of an investment). The number represented by the risk profile data can be used to generate respective upper bound and lower bound values for each attribute of the product defined in the configuration data of the system 100 (or alternatively a single comparison value) based on the acts described with references to Tables 1 to 5.

In another representative embodiment, the number generated by the alert server 106 (as described above) is compared with a general range of possible scores. The general range is divided into several discrete brackets, each bracket being associated with a different risk category (e.g. as one of defensive, moderately defensive, balanced, growth or high growth). An example is show in Table 1 below for a general range of 0 to 5. Depending on the value of the number generated by the alert server 106, the number will fall into a different bracket, which determines the risk category applicable to the user. In this embodiment, the risk profile data includes risk category data representing a risk category applicable to the user. The risk category can be used to generate respective upper bound and lower bound values for each attribute of the product defined in the configuration data of the system 100 (or alternatively a single comparison value) based on the acts described with reference to Tables 2 to 5.

Figure imgf000009_0001

Table 1

In another representative embodiment, the risk profile data includes risk allocation data representing a different predetermined value for each attribute defined in the configuration data for the system 100. Table 2 provides an example of the predetermined values for different attributes defined based on asset type (e.g. based on Table 1) for different risk categories of a user (e.g. based on the total score value). Table 3 provides an example of the predetermined values for different attributes defined based on asset performance for different risk categories of a user (e.g. based on the total score value). The respective range for each attributes represented by the risk allocation data can be used to generate respective upper bound and lower bound values for each attribute of the product defined in the configuration data of the system 100 (or alternatively a single comparison value) based on the acts described with reference to Table 4 to 5.

Figure imgf000010_0001

Table 3 In another representative embodiment, the risk profile data includes risk allocation data representing a different range of values for each of the attributes defined in the configuration data for the system 100. Table 4 provides an example of the predetermined ranges of values associated with each attribute defined in the configuration data for the system 100. Each range is defined by a respective upper bound value and lower bound value. A fixed predetermined range may be defined for each attribute based on the risk category of the user (e.g. based on the Table 1). Alternatively, the range for each attribute may be defined relative to the predetermined values for each attribute (e.g. based on either Tables 2 or 3) for a user of a particular risk category (e.g. based on Table 1). For example, depending on the risk category of the user, the relative difference between the upper bound value and lower bound value for each attribute (relative to the reference value for the attribute from Tables 2 or 3) may each be different and may be independently defined by the configuration data for the system 100.

Figure imgf000011_0001

Table 4

As an alternative to Table 4, the risk profile data may include risk allocation data representing a single comparison value (shown as the "Average" value in Table 5) generated by the alert server 106. The comparison value may be generated based on the actual relative allocation of the assets of the product across each of the attributes defined in the configuration data for the system 100 (which may be defined by product allocation data in the product data for a product), and also the predetermined values for each attribute (e.g. based on either Tables 2 or 3) for a user of a particular risk category (e.g. based on Table 1). The values in the sector deviation column in Table 5 can be generated based on an absolute percentage difference between the values in the product allocation field and the values in the balanced field. For example, the sector deviation value for the cash attribute can be generated by dividing an absolute difference between the values in the product allocation and balanced fields (i.e. 2.7% - 4%) by the value in the balanced field (i.e. 4%), and then multiplying the result by 100%. The values in the balanced field in Table 5 can be substituted with the values for the corresponding attributes defined in either Tables 2 or 3. The comparison value (corresponding to the average field in Table 5) can be generated by taking an average of the sector deviation values for each attribute in Table 5.

Figure imgf000012_0001

Table 5

The alert server 106 may require a client device 102 to provide the user's authentication detail for verification with the authentication details stored in the user's profile data. Once verified, the alert server 106 can perform further tasks or execute processes under the control of the client 102.

The alert server 106 also generates display data representing various user input interfaces for display on a client device 102 that enable a user to control the actions of the alert server 106 (see Figures 6 to 17). For example, the alert server 106 may generate display data representing a user input interface for the user to provide portfolio data relating to any new investment products that the user wishes to monitor using the system 100. Similarly, the alert server 106 may also generate display data representing a user input interface for the user to modify the user's portfolio data as stored in the database 108 (e.g. to modify or delete an investment product, or modify any user-specific parameters or transactions details associated with an existing investment product). The alert server 106 may also generate display data representing a graphical user interface for the user to provide responses to questions that is used by the alert server 106 generates risk profile data for the user.

Figure 3 is a flow diagram of a risk management process 300 performed by the alert server 106 (under the control of control modules on the alert server 106). The process 300 begins at 302 where the alert server 106 generates display data representing a graphical user interface for showing one or more questions (or activities or challenges) for assessing the user's investment objectives, expected outcome from investments, and likely sensitivity or aversion to investment risk. At 304, the alert server 106 receives selection data generated by the client device 102 representing the user's selected response to the questions (or activities or challenges) displayed at 302. At 306, the alert server 106 generates score data representing a total score value determined based on the user's responses in the selection data. At 308, the alert server 106 generates risk profile data for the user based on the score data (as described above).

At 310, the alert server 106 compares the risk profile data generated at 308 with the existing risk profile data for the user stored in the database 108. If the alert server 106 detects no changes to the user's risk profile data, 310 proceeds to 326 to update the user's risk profile data in the database 108 with the current date (i.e. representing the date when the user risk profile was last reviewed). If the user's risk profile has changed, 310 proceeds to 312.

At 312, the alert server 106 accesses the product allocation data for a product defined in the user's portfolio data. At 314, the alert server 106 accesses the user's risk allocation data. At 316, the alert server 106 compares the product allocation data (representing values for each attribute defined in the configuration data of the system 100 - see Table 5) with the user's risk allocation data (representing values corresponding to the same attributes based on the user's risk category - see Tables 2 to 5) and identifies any differences in the values for the attributes being compared

At 318, the alert server 106 determines whether any difference from the comparison at 316 represents an unacceptable difference. There may be two conditions where a difference from the comparison at 316 may not be acceptable, such as: i) where a difference in respect of a particular attribute exceeds the respective upper bound or lower bound values for that attribute represented in the user's risk allocation data, and ii) where an absolute difference in respect of a particular attribute exceeds the single comparison value represented in the user's risk allocation data.

If 318 determines a difference to be unacceptable, then 318 proceeds to 320 where the alert server 106 generates alert list data (representing one or more investment products exceeding the user's threshold for risk) including the product selected at 312. Otherwise, 318 proceeds to 322 to assess whether all products identified in the user's portfolio data have been reviewed by process 300. If no, 322 proceeds to 312 to process another product identified in the user's portfolio data. Otherwise, 322 proceeds to 324.

At 324, the alert server 106 generates an alert message based on the alert list data. The alert message may include information relating to the identity of the products identified in the alert list data, and the degree or significance of any variation detected by the alert server 106 in respect of those products. The alert server 106 then controls the sending of the alert message to the appropriate client device 102 (or 103). When the user receives the alert message, the user can access the alert system 100 via a client device 102 (or 103) to adjust the parameters for monitoring the user's products defined in the portfolio data, or the user may take action (e.g. buy or sell) further quantities of the product via a broker. At

326, the user's new risk profile data is stored in the database. Process 300 ends after 326.

Figure 4 is a flow diagram of an analysis process 400 performed by the alert server 106 (under the control of control modules on the alert server 106). The process 400 begins at 402 where the alert server 106 accesses source data (from one or more external content servers 110) for one or more products. At 404, the alert server 106 checks the source data for any errors. In this context, an error may include any instances of missing data (e.g. for a field or attribute in the source data), and any inconsistent data value (e.g. for the same product attribute) between the source data from different external content servers 110. At step 406, the alert server 106 determines whether any such errors exist. If there are no errors in the source data, 406 proceeds to 410. Otherwise, 406 proceeds to 408 to correct the errors. For example, at 408, the alert server 106 may use the source data accessed from one external content server 110 to update the product data stored in the database 108, where any missing data in the source data can be complimented by the source data accessed from another external content server 110. Where the source data from different external content servers 110 contain inconsistent (or conflicting) values, the alert server 106 at 408 may resolve this by (i) using either the greater or lower of the values by default for updating the product data in the database 108, or (ii) generating an average based on the range of values for updating the product data in the database 108. At 408, the alert server 106 may be configured to automatically resolve errors in the source data only where the range of difference is within a certain threshold range (e.g. only where there is 1% difference in the data values). Otherwise, the alert server 106 may generate an alert for an administrator user to correct the error.

At 410, the alert server 106 accesses configuration data for the system 100 from the database 108. The configuration data may include data defining a relationship between different fields in the source data from different external content servers 110 to the fields in the product data in the database 108. At 412, the alert server 106 performs a comparison of the values in the fields in the product data with the corresponding fields in the source data (based on the configuration data).

At 416, the alert server 106 determines whether the comparison at 412 has resulted in an error because the source data relates to a new product that does not presently exist in the product data in the database 108. If so, at 418 the alert server 106 controls the database 108 to update the product data to include details of the new product based on the source data. Process 400 ends after 418.

At 420, the alert server 106 determines whether there is any difference between a data value represented in the source data for a particular field of a product with the data value in the corresponding field in the product data in the database 108. If so, the alert server 106 detects a change at 420, and 420 proceeds to 422 to update the product data in the database 108 with the new values represented in the source data. Otherwise, process 400 ends.

At 424 to 436, the alert server 106 determines whether the updated attributes for the product exceed the user's threshold for risk (based on the user's risk allocation data). Steps 424 to 436 correspond to 312 to 324 in process 300. Process 400 ends after 436.

Figure 5 is a flow diagram of an investment management process 500 performed by the alert server 106 (under the control of control modules on the alert server 106). The process 500 begins at 502 where the alert server 106 generates display data representing a graphical user interface for receiving a user input (from a client device 102) representing a selected action including at least one of: (i) adding or deleting a product from the database 108, (ii) modifying the details for a product in the database 108, or (iii) modifying the details of a transactions associated with a product in the database 108. The alert server 106 interprets the response received from the client device 102 and proceeds to 504, 526 or 524 depending on the user's selected action. At 504, the alert server 106 generates display data representing a graphical user interface for a user to select (or otherwise provide details of) an investment product. This may involve selecting (e.g. from a menu of options) an identifier representing an investment product represented by the product data in the database 108. Alternatively, the user can provide the details of a new product that is not represented by the product data in the database 108. At 506, the user selects an option from the graphical user interface to control the alert server 106 to either add the product details provided at 504 to the user's portfolio data, or to delete the product identified at 504 from the user's portfolio data. If the delete option is selected at 506, the alert server 106 controls the database 108 to remove any association between the user and the product in the user's portfolio data. Otherwise, 506 proceeds to 510.

At 510, the alert server 106 generates display data representing a graphical user interface for a user to select a mechanism for sending an alert message to the user (e.g. email or SMS). At 512, the user is required to select one or more parameters for defining the risk profile data for the user. As described above, this may involve selecting upper bound and lower bound value for the attributes of the product. At 514, the details received by the alert server 106 at 504, 510 and 512 are used to update the user's profile data in the database 108. Process 500 ends after 514.

At 516, the alert server 106 generates display data representing a graphical user interface for a user to select (or otherwise provide details of) an investment product. This may involve selecting (e.g. from a menu of options) an identifier representing an investment product associated with the user based on the user's portfolio data. At 518, the alert server

106 accesses the user's profile data for the selected product. At 520, the alert server 106 receives (from the client device 102) data representing any changes to the parameters associated with user's profile data. At 522, the alert server 106 controls the database 108 to store the user's updated profile data in the database 108. Process 500 ends after 522.

At 524, the alert server 106 generates display data representing a graphical user interface for a user to select (or otherwise provide details of) an investment product. This may involve selecting (e.g. from a menu of options) an identifier representing an investment product represented by the product data in the database 108. At this point, the alert server 106 may generate an updated graphical user interface displaying a list of one or more transactions associated with the product selected at 524.

At 526, the user selects an option from the graphical user interface to control the alert server 106 to either associate the details of a new transaction to the product selected at 524, or to delete the details of an existing transaction associated with the selected product based on the user's profile data. If the delete option is selected, 526 proceeds to 538. Otherwise, 526 proceeds to 528.

At 538, the alert server 106 identifies the transaction selected by the user for deletion from the database 108. At 540, the alert server 106 requests confirmation from the user to proceed with the deletion. If the user response affirmatively to the alert server's 106 request, at 542 the alert server 106 controls the database 108 to remove the details of the selected transaction from the user's profile data in the database 108. Process 500 ends after 542.

At 528 to 536, the user provides details relating to a new transaction including the date of the transaction, additional units purchased or sold in respect of the selected product, unit value of the product at the time of the transaction, and the type of transaction (e.g. whether the transaction relates to a redemption or contribution towards the product). These details are used to update the user's profile data in the database 108. Process 500 ends after 536.

Any of the processes or methods described herein can be computer-implemented methods, wherein the described acts are performed by a computer or other computing device. Acts can be performed by execution of computer-executable instructions that cause a computer or other computing device (e.g. client device 102 or 103, alert server 106, or the like) to perform the described process or method. Execution can be accomplished by one or more processors of the computer or other computing device. In some cases, multiple computers or computing devices can cooperate to accomplish execution.

One or more computer-readable media can have (e.g., tangibly embody or have encoded thereon) computer-executable instructions causing a computer or other computing device to perform the described processes or methods. Computer-readable media can include any computer-readable storage media such as memory, removable storage media, magnetic media, optical media, and the like. The data structures described herein can also be stored (e.g., tangibly embodied on or encoded on) on one or more computer-readable media.

Modifications and improvements to the invention will be readily apparent to those skilled in the art. Such modifications and improvements are intended to be within the scope of this invention. For example, although the alert system 100 is described in the context of a client-server system, the processes performed by the alert server 106 and/or database 108 can be performed on the client device 102.

The word 'comprising' and forms of the word 'comprising' as used in this description and in the claims does not limit the invention claimed to exclude any variants or additions.

In this specification, including the background section, where a document, act or item of knowledge is referred to or discussed, this reference or discussion is not an admission that the document, act or item of knowledge or any combination thereof was at the priority date, publicly available, known to the public, part of common general knowledge, or known to be relevant to an attempt to solve any problem with which this specification is concerned.

Claims

1 An alert system, including at least one processing module configured to: i) access source data for one or more different investment products; ii) generate, based on said source data, product data including data representing a change in one or more predefined attributes of said products; iii) access, from a data store, a user's profile including data representing: (a) a portfolio of one or more of said products associated with said user, and (b) one or more parameters representing a range of values for each of said attributes; iv) select one or more of the products in said portfolio that exceed said user's threshold for risk, based on a comparison of any changes in the attributes for each product in said portfolio with the corresponding range of values specific to that product; and v) generate, for the selected said products, an alert message for informing said user of the products in said portfolio that exceed said user's threshold for risk.
A system as claimed in claim 1, wherein said products include an investment fund for receiving money from one or more different said users for use in relation to the sale, acquisition or management of one or more different assets controlled by said fund.
A system as claimed in claim 2, wherein said investment fund is a superannuation fund.
A system as claimed in claim 1, wherein said processing module is configured to access, from said data store, configuration data including data representing said one or more predefined attributes of said products.
A system as claimed in claim 1 , wherein said product data includes data representing any said change in any said attributes over a predetermined period of time, said attributes for a particular one of said products including one or more from the group consisting of: a) a value of the product; b) a value of a discrete share of the product; c) a value of any assets in a predetermined asset class controlled by the product; and d) a proportion by value of any assets in a predetermined asset class controlled by the product.
A system as claimed in claim 5, wherein said asset class refers to one or more different said assets having one or more characteristics in common, said characteristics including one or more from the group consisting of: a) asset type; and b) asset performance.
A system as claimed in claim 5, wherein said change is determined by reference to a most recent value for one of said attributes compared with a pre-existing value for the same attribute as accessed from said data store.
A system as claimed in claim 7, wherein when said system determines that the most recent value and pre-existing value of said attribute are not the same, said system controls said data store to store said most recent value as the pre-existing value for said attribute.
A system as claimed in claim 5, wherein each of said attributes is associated with a different set of said parameters defining at least one of: (i) a maximum value for said range for said attribute, and (ii) a minimum value for said range for said attribute.
A system as claimed in claim 9, wherein the parameters for each said attribute are generated based on said risk allocation data for a particular said user accessed from said data store, said risk allocation data being generated based on risk profile data representing the user's sensitivity to investment risk including a loss in value of an investment.
A system as claimed in claim 10, wherein said risk allocation data includes data representing one or more factors from the group consisting of: a) a specific maximum value for a specific said attribute; b) a specific minimum value for a specific said attribute; c) a first adjustment value for generating a maximum value for a specific said attribute based on a most recent value for that attribute; d) a second adjustment value for generating a minimum value for a specific said attribute based on a most recent value for that attribute; and e) a different combination of factors including one or more of said specific maximum value, said specific minimum value, said first adjustment value, and said second adjustment value specific to different said attributes.
A system as claimed in claim 10, wherein said sensitivity data represents a number generated based on said user's response to one or more predetermined questions for assessing said user's sensitivity to investment risk.
An alert method, including: i) accessing source data for one or more different investment products; ii) generating in a computing device, based on said source data, product data including data representing a change in one or more predefined attributes of said products; iii) accessing, from a data store, a user's profile including data representing: (a) a portfolio of one or more of said products associated with said user, and (b) one or more parameters representing a range of values for each of said attributes; iv) selecting one or more of the products in said portfolio that exceed said user's threshold for risk, based on a comparison of any changes in the attributes for each product in said portfolio with the corresponding range of values specific to that product; and v) generating in said computer device, for the selected said products, an alert message for informing said user of the products in said portfolio that exceed said user's threshold for risk.
A computer program product, comprising a computer readable storage medium having computer executable program code embodied therein, said computer- executable program code adapted for controlling at least one processor to perform an alert method, said method including: i) accessing source data for one or more different investment products; ii) generating in a computing device, based on said source data, product data including data representing a change in one or more predefined attributes of said products; iii) accessing, from a data store, a user's profile including data representing: (a) a portfolio of one or more of said products associated with said user, and (b) one or more parameters representing a range of values for each of said attributes; iv) selecting one or more of the products in said portfolio that exceed said user's threshold for risk, based on a comparison of any changes in the attributes for each product in said portfolio with the corresponding range of values specific to that product; and v) generating in said computer device, for the selected said products, an alert message for informing said user of the products in said portfolio that exceed said user's threshold for risk.
PCT/AU2010/000491 2009-04-30 2010-04-29 An alert system WO2010124332A1 (en)

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