This research note summarizes intriguing evidence on the impact of an asset manager's overall investment operations on individual portfolio performance. Our exploratory analysis of operational data associated with 61 institutional portfolios across 14 managers (over the period October 1999 to...

This paper describes a method and system for quantifying the variances in the semantics and syntax of electronic transactions exchanged between business counterparties. ContextMetrics enables (a) dynamic transformations of outbound and inbound transactions needed to effect...

This research note describes a middleware-based system that enables semantic and syntactic interoperability of transactional data exchanged in real-time between sending and receiving systems. Our system samples transaction streams, and statistically measures the variances in the semantics and...

This study demonstrates how investment managers can identify and resolve suboptimal operational workflows that diminish an investment strategy’s attainable alpha on the order of 24-242 basis points (annualized, gross of fees). A portfolio’s potential alpha can be best realized by addressing...

This research note summarizes our preliminary observations that suggest robust investment operations at asset management firms can mitigate potential declines in excess return of as much as 250 basis points in the firm’s portfolios. The dissipation of returns appears to arise from...