Subscription > Recent Features

Typically, new PORTAX versions include one or two new features from our ongoing future feature list.  Occasionally, a new version will be dedicated to maintenance issues alone.  We encourage our subscribers to make requests for new features.  Below is a list of versions with added features for the last two years.

 

•  Version 6.6  User Selected Factor Model
    
This allows selection of the regressors and their forecasted values in the factor model in the Forecasts
      Wizard.

•  Version 6.7  Advanced Client Report Online
    
This allows an Advanced Client Report to be generated inside PORTAX without relying on exporting data to
     Excel as the original Advanced Client Report required.  Both options are available.

•  Version 6.8  International Currencies
    
This allows PORTAX to run in any stable international currency.  By maintaining a user selected, small FX
     table, the analytics and reporting can be easily switched among currencies.

•  Version 6.9  International Tax Rates
    
This allows the top marginal individual and corporate tax rates for over 50 countries currently covering 193
     tax jurisdictions to be used for after-tax analysis.

•  Version 7.0  International Example Case Studies
    
This extends the basic PORTAX Example case study to 31 different countries and their associated
     currencies.

•  Version 7.1  Maintenance Release

•  Version 7.2  Economic Cycles and Shifts
     This allows setting of positive and negative growth rates per period for each asset's income return,
     income standard deviation, capital gains return and capital gains standard deviation.  These growth
     rates can then model economic cycles and shifts at the microeconomic and macroeconomic level.

•  Version 7.3  Turnover Growth
   
This allows positive and negative growth per period for each asset's turnover rate.

•  Version 7.4  Management Fee Deduction %
    
This setting is the percentage of management fees that are tax deductible.  Depending on the tax
      jurisdiction, some asset classes have management fees that are not 100% deductible.  This feature
      also enables modeling of non-deductible percentage-based transaction costs.

•  Version 7.5  Multivariate T Distribution
    
Multivariate T Distribution is an addition to the simulator that generates random returns with
     fat tails.  The tails are controlled by the user selected degrees of freedom ranging from 3 to 100.

•  Version 7.6  Multivariate Power Method Polynomial Distribution and Simulator Diagnostics
    
Multivariate Power Method Polynomial Distribution is an addition to the simulator that
     allows setting individual asset skewness (tail asymmetry) and kurtosis (tail fatness) to generate random
     returns.
    
     Simulator Diagnostics compares the simulated parameters of random returns to the
     parameters of the user selected multivariate distribution.  This assists in selecting sample size and
     verifying the simulator is working correctly.

•  Version 7.7  Simulator Sample Size, Forecasts Skewness/Kurtosis and Extreme Data Points
  
  Simulator maximum sample size is increased from 10,000 draws to 50,000 draws. This increases the
     simulator accuracy by lowering the standard errors on sample estimates. This assists with analytics
     that are significantly non-normal.

     Forecasts Wizard now calculates skewness and excess kurtosis for asset time series and saves the results
     in the Simulator/Distributions/Multivariate PM Polynomials Editor. This provides historical estimates as
     reference points when simulating multiple assets with differing statistical distributions.

.    Forecasts Wizard now has an optional Extreme Data Points adjustment procedure to handle potential
     data errors in asset time series. Commercially available asset time series occasionally have bad data points
     that can create invalid extreme statistical estimates and disrupt modeling.

•  Version 7.8  Daily Periods Per Year and Day Calendar
     Periods Per Year now includes Daily (365). The full available options are Annual (1), Semi-Annual (2),
     Quarterly (4), Monthly (12), Bi-Weekly (26), Weekly (52) and Daily (365).

     The Daily (365) option also includes  a companion two year Day Calendar that enables days to be set on for
     active days and off for non-active days such as holidays and weekends. With the 120 maximum periods
     available, the Daily (365) option with the Day Calendar can schedule up to 120 active days in a two year
     window for analysis.

• Version 7.9  Forecasts Wizard and Manager and Index Testing Periods Per Year
    The Forecast Wizard generates per period asset returns based on actual market trade days.
    The available Periods Per Year options are Annual Returns (1), Semi-Annual Returns (2),
    Quarterly Returns (4), Monthly Returns (12), Bi-Weekly Returns (26), Weekly Returns (52)
    and Daily Returns (365).

    Each asset return series in the Manager and Index Testing Module now has its own Periods Per Year. The
    available Periods Per Year options are Annual Returns (1), Semi-Annual Returns (2), Quarterly Returns (4),
    Monthly Returns (12), Bi-Weekly Returns (26), Weekly Returns (52) and Daily Returns (365).

Version 8.0 Forecasts Wizard and International Asset Class Return Time Series
 
 The Forecast Wizard now has International Asset Class Return Time Series ranging from Annual Returns to
   Daily Returns based on the specific market actual trade days. The Asset Classes for each international market
   are 100 pre-selected indices, ETFs and individual large cap securities. Currently, the following 12 international
   markets are available:

   Australia (AUS)        EuroNext (EUR)        India (IND)              Taiwan (TWN)
   Canada (CAN)          Germany (DEU)        Japan (JPN)            United Kingdom (GBR)
   China (CHN)            Hong Kong (HKG)     Singapore (SGP)     United States (USA)

Version 8.1 Forecasts Wizard and International Asset Class Return Time Series
 
 The Forecast Wizard now has 30 International Asset Class Return Time Series ranging from Annual Returns to
   Daily Returns based on the specific market actual trade days. The Asset Classes for each international market
   are 100 pre-selected indices, ETFs and individual large cap securities. Currently, the following 30 international
   markets are available:

   Argentina (ARG)     Hong Kong (HKG)     Singapore (SGP)
   Australia (AUS)       India (IND)                South Africa (ZAF)
   Austria (AUT)          Indonesia (IDN)        South Korea (KOR)
   Brazil (BRA)            Israel (ISR)                Spain (ESP)
   Canada (CAN)         Italy (ITA)                   Sweden (SWE)
   China (CHN)           Japan (JPN)               Switzerland (CHE)
   Denmark (DNK)     Mexico (MEX)            Taiwan (TWN)
   EuroNext (EUR)      Netherlands (NLD)   Turkey (TUR)
   Finland (FIN)          Norway (NOR)           United Kingdom (GBR)
   Germany (DEU)      Russia (RUS)             United States (USA)

Version 8.2 International Tax Rates Updated for 2020
 
 This allows the 2020 top marginal individual and corporate tax rates for over 50 countries currently covering
   193 tax jurisdictions to be used for after-tax analysis.

Version 8.3 Alpha Performance for Managed Assets
    Alpha Performance measures the ability of a manager to outperform a passive investment strategy given an
    investor's specific portfolio targets, tax issues and spending patterns. Based on your estimations for both
    manager alpha income and alpha capital gains, the alpha performance measures manager performance
    using management fees and tax costs on a per period basis. Then utilizing the Monte Carlo simulator can
    generate alpha performance confidence intervals.

Version 8.4 Q3 2020 Asset Class Return Time Series Update
    This quarterly update is for 30 International Markets ranging from Annual Returns to Daily Returns. Each
    international market has 100 pre-selected assets consisting of indices, ETFs and individual large cap
    securities.

Version 8.5 Q4 2020 Asset Class Return Time Series Update
    This quarterly update is for 30 International Markets ranging from Annual Returns to Daily Returns. Each
    international market has 100 pre-selected assets consisting of indices, ETFs and individual large cap
    securities.

Version 8.6  Margin Trading
    Margin Trading allows an investor to borrow cash to leverage their portfolio by investing in assets whose
    total value exceeds 100% of their portfolio value. The amount of cash available to borrow is based on
    their portfolio value and the brokerage houses and security exchanges they trade with. This creates a
    portfolio that has a negative asset weight for the borrowed cash asset and a total weight for all the
    other assets that exceeds 100%.

Version 8.7 Q1 2021 Asset Class Return Time Series Update
    This quarterly update is for 30 International Markets ranging from Annual Returns to Daily Returns. Each
    international market has 100 pre-selected assets consisting of indices, ETFs and individual large cap
    securities.

• Version 8.8 Q2 2021 Asset Class Return Time Series and 2021 International Tax Rates Updates
    This quarterly update is for 30 International Markets ranging from Annual Returns to Daily Returns. Each
    international market has 100 pre-selected assets consisting of indices, ETFs and individual large cap
    securities.

   This updates the internal tax tables for the 2021 top marginal individual and corporate tax rates for over 50
   countries currently covering 163 tax jurisdictions.