
Opturo has developed VICAP, a comprehensive, multi-currency rapid deployment solution designed to provide a complete composite performance & assets reporting platform for achieving and maintaining GIPS® compliance. It leverages the VIA platform to offer the most comprehensive, flexible and cost effective composite creation-maintenance-reporting solution. VICAP puts GIPS compliance within the reach of any firm.
The notable features are:
- Rapid Deployment: No Implementation (Plug & Play)
- Flexibility: Works in diverse client environments and integrates to all accounting and broker platforms.
- Comprehensive: The platform can be leveraged to perform the following:
- Composite creation.
- Inclusion/exclusion rules validation.
- Daily or monthly account or asset-class level performance (TWR, IRR) calculation with interval threshold.
- Calculates Bond accruals.
- Composite performance & assets reporting with custom reports, disclosures and benchmarks.
- Seamless composite and account data extract for verification firm.
- Support for Carve-out. Click here for more information.
Opturo has dramatically reduced the time and expense for my firm to complete our GIPS audit and create and maintain our composite. I simply cannot imagine being able to complete this monumental task without Opturo. In addition, the support and willingness of Opturo’s staff to help is the best I’ve experienced.
James Dailey, CFA
Chief Investment Officer
TEAM Financial Managers
VICAP, an end-to-end compliance platform enables Investment Firms:
- To be on the road to GIPS compliance in days instead of months through the rapid deployment of the solution.
- Streamline and automate the new or existing compliance process.
- To ensure that books and records are consistent with custodial books and records on a transactional basis.
- Identify inconsistent data including outlier account level returns.
- Lower the overall cost of compliance.
- To become compliant quickly.
For more information on the Global Investment Performance Standards (GIPS), please click here.
Major Benefits of VICAP
Composite Constructor
This product is used to generate composites from a universe of accounts. The composite creation can be done over single or multiple periods. With the Composite Constructor, a multi-year verification can be achieved with minimal effort.
THE OPTURO ADVANTAGE
- Data visualization of composite across multiple time periods.
- Flexible Composite/Model assignment criteria definitions.
- Model Map over multiple periods.
- Model Trade Journal.
- Model Cumulative Period Return (WTD, MTD, YTD, etc.).
- Flexible Account level inclusion/exclusion rule definitions.
- Security substitution functionality.
- Strategy-Model Name Map.
- Multi-period Composite-Account mapping list generation.

Composite Validator
This product is used to validate a universe of accounts against a single composite/model for a given set of account and security level inclusion/exclusion rules. Composite Validator’s flexibility allows the definition of all simple and complex rules that exist for each client. Verification firms can deploy this tool to streamline the verification process by switching from the maintenance of complex spreadsheet applications used for rules based account validation.
THE OPTURO ADVANTAGE
- Target Single/Multiple model(s).
- Single/Multi period analysis.
- Target or sample accounts functionality for Verification firms.
- Security substitution functionality.
- Flexible Account level rule definitions.
- Flexible Security level rule definitions.

Composite Summary Report
This product is used to generate composite and portfolio performance and asset reports. It can be used to streamline and automate the generation of daily, monthly, quarterly, and annual composite and portfolio performance reports for internal and external reporting needs. Leveraging the VIA platform, customized reports can be generated in PDF, Excel and Word, or report data can be exported to a relational data warehouse. It has comprehensive support for custom disclosures and company footnotes.
THE OPTURO ADVANTAGE
- Multi-period reporting (daily, monthly, quarterly & annually).
- Calculates Net-of-fees performance for Wrap Composites.
- Supports multiple composite and portfolio return and market value definitions.
- Multi-Currency capability.
- Supports multiple benchmark definitions for composites and portfolios.
- Flexible input data definitions.
- Supports current and projected GIPS composite return reporting guidelines.
- Provides powerful and comprehensive ex-post composite and portfolio performance analytics reports.

The Opturo decision evaluation system can be leveraged, cost effectively, by all asset management firms ranging from the larger retail and institutional to the smaller RIA and Independents. Its best-of-breed analytics explain performance down to the trade/security and decision levels, providing valuable insight to both the firm and its clients. Traditionally, access to such comprehensive analytics has previously been cost prohibitive for smaller firms. Opturo puts the most advanced performance and attribution analysis within the grasp of all investment firms.
Option to have any and all stored or currently viewed reports updated as external market data, holdings and trade data change, supporting any period from any specified start date to any close date or to the current moment. E.g. Date-To-Time Performance and Risk Attribution from the third quarter of last year to the current moment using up-to-the-moment prices and positions. It interfaces with various real-time market data providers including Bloomberg® (Terminal and server products), Interactive Data®, Reuters®, Yahoo® Finance and Google® Finance.
Ability to generate look-through performance & attribution reports for Fund of Funds portfolios with Mutual Funds, ETF's and Derivatives. Analyze attribution and contribution across multiple decisions and segments including Sector, Industry and Region. Click here for more information.
Opturo's VIA: Performance & Attribution product is the world's first plug & play performance and risk attribution solution. It can be uniquely deployed to calculate accurate security level performance using holdings or transactional level data from multiple sources including Text, Excel and Relational Databases. It can be directly deployed by Investment firms to calculate accurate Follow-The-Money (FTM) component-level performance and produce a unified, consistent, comprehensive and detailed performance and attribution analysis and corresponding reports using transaction data from multiple brokerage platforms or multiple custodian data files.
Integrates to all third-party (Northfield®, Barra®, APT®, etc.) and in-house factor-based Risk or Attribution Models. Analyze the factor attribution according to multiple models. Opturo introduces the industry's first multi-factor attribution product using transaction-based performance measurement to generate the most accurate and reliable factor attribution results.
Click here for more information.
Innovative architecture offers the rapid deployment of the performance system with little or no implementation costs.
Comprehensive and mutually consistent equity and fixed income attribution.
Implementation of both arithmetic and geometric attribution models based on the client's specification of the actual investment decision process. Click here for more information.
Allows definition of a market other than the benchmark for calculation of Beta analytics.
Supports Daily and Monthly multi-period attributions. The support for monthly attributions allows firms to run longer-term period attributions when daily holdings do not exist.
Cascading decision tree also supports custom cascading, variable-period, long and short, balanced equity and fixed income portfolios, while employing exact follow-the-money trade-based returns.
In perfect parallel to performance attribution calculates the effects of each (kind of) investment decision on any defined risk characteristic. For example, if currency hedging was one of the decisions that constructed the portfolio, and caused the active return to change by a calculated amount, risk attribution assesses the amount by which that same investment decision caused the information ratio to change.
In perfect parallel to performance and risk attribution, which calculate the effects of each (kind of) investment decision on the active return and active risk of the fund over combinations of multiple periods, Opturo also calculates the effects of these exact same decisions on the active P&L (gain/loss) in dollars (or in any base currency). For example, if imposing a different average market cap on the tech sector of a fund than that imposed by the benchmark was one of the decisions that constructed the fund, and caused the active return and the information ratio to increase by calculated amounts, then Value Attribution assesses the amount by which that same investment decision caused the active gain, in dollars, to increase. So Opturo's Value Attribution report might show that the market cap decision in technology gained the fund $2M more than the benchmark. Then, the total of all the value attributes, measured in dollars, equals the amount by which the fund's P&L was greater than the P&L of the benchmark with the same external cash flows during the period.
Enables customization to meet client operational and reporting requirements.
Industry first implementation of true temporal data visualization for in-depth analysis.
All performance and both arithmetic terms are calculated so as to ensure their economic meaningfulness, avoiding the all-to-common critical calculation problems endemic in popular alternatives.
Creates correct return series even in the crucial cases where other packages fail, such as for components of portfolios in the prevalent case where there are intra-day trades that settle after the close.
Comprehensive support for both long only and alternative strategies including market neutral and 130/30. Click here for more information.
Provides their calculation when there is incomplete accrual pricing input data.
Reports both incomplete input data and performance results outside customizable performance ranges, as a considerable aid for data scrubbing.
Leverages our proprietary plug & play technology to offer a quick and cost efficient implementation.
The system can run in both Holdings-based and Transaction modes. In the first, holdings and transactions are externally supplied while, in the second, daily holdings are obtained directly from transactions.
Supports Daily, Monthly and Annual Return streams.
Explains the differences between a fund and its benchmark in terms of the variation among market returns.
The active results of an investment process can be understood in terms of the variation among market returns. If, in each time period, all instruments provided the same total return then the return of any portfolio would be that return. So the difference between the result for a fund and its benchmark would be zero. It follows that any non-zero active measure can be completely explained in terms of the variation in the total returns of instruments. Opturo's Market-Differentiation Attribution explains active performance and risk measures in terms of the way the market differentiates the returns achieved by different instruments and their roll-ups. For instance, depending on the segmentation chosen, Market-Differentiation Attribution can attribute part of the active return to the fact that different sectors have different returns, instead of them all having the same return as the benchmark as a whole. It also can attribute part of the active return to the fact that individual issues in a sector have different returns then the sector to which they belong.
Decomposes the return of a portfolio into contributions of the effects of chosen variables.
Changes in many different variables can bring about changes in a portfolio's return. Opturo's Return Decomposition methodology analyses a portfolio's return in terms of the set variables chosen by the user. The return of a portfolio can be viewed as the synthesis of a number of chosen effects. For instance, portfolio returns can be affected by risk-free rates, by changes in FX rates, by shifts, twists and bends of yield curves, by hedging or by the returns of the categories to which their holdings belong. A portfolio's return is analyzed into these effects together with issue selection and a trade effect.
Open system design allows unparallel customization including custom reporting.
Provides the platform to automate the performance reporting.
Analyze risk characteristics of a fund at a current or past date.
Clients can customize the risk system to their specifications.
Flexibility to integrate to all third-party (Northfield®, Barra®, APT®, etc.) and in-house factor-based Risk Models. Analyze and compare a portfolio's risk characteristics according to multiple models.
Drill-down capability to the instrument level across multiple segments to analyze weight, market value and Beta exposures.
Decompose changes in risk due to trade and model impact.
Comprehensive support for both long only and alternative strategies including market neutral and 130/30.
Analyze risk trends for a fund. For instance, view changes in exposure, tracking error, Beta, etc. through time.
Innovative architecture offers the rapid deployment of the system while significantly reducing the implementation time and cost.
Supports all the functions needed to achieve and maintain GIPS Compliance including composite creation, rules based inclusion/exclusion and multi-currency composite and portfolio reporting.
It can be configured quickly to efficiently create, maintain and report composites and portfolios in diverse client environments. It also has the design flexibility to seamlessly support the firm’s changing policy & procedures and infrastructure.
Designed so that it is straightforward and intuitive.
Clients can save weeks of time on a multi-year verification.
Analyze composites and portfolios through time.
Open system design allows unparallel customization including custom reporting.
Report analysis with drill down and filtering capability allows clients to provide the verifier with relevant data quickly and seamlessly.
Provides the platform to automate the process of achieving and maintaining GIPS compliance.