South Africa: Gallery

This page contains sections that deal with aspects, or applications of-, the I-Maps System that aren't covered elsewhere.


Showing Company Fundamental Ratios on I-Maps


Map showing PE ratios

Fundamental ratios such as PE (price to earnings), dividend yields, ROAE (return on average equity) or even forecast returns can be shown on I-Maps.  The system can show virtually any ratios.  The ratios are generally specified by, and provided by, the client.    Up to 12 different ratios can be catered for.

(The "ratios" need not be actual ratios.  A ratio could be, for example, 3 month change in price.)

The ratios are shown using the color of the marker for each point.  On the map above the high PE ratios are dark red.  The low PE ratios are dark green.

In addition, the shape of the markers can be used to show the size of the tilts (for a selected fund and its benchmark). A star is used for over-weight positions, a cross for under-weight positions.  The size of the star or cross indicating the extent of the tilt.

 

Sector hierarchies or trees or classification schemes

The securities within I-Maps can be arranged into any number of sector hierarchies.  Holdings within portfolios are then shown using a chosen hierarchy. 

Picture of portfolio holdings with a hierarchy

Clients can have their own customised hierarchies.

 

Sub-Portfolios or Unit Portfolios

A particular strength of the I-Maps System is its ability to deal with portfolio holdings that are themselves portfolios.  These are variously called sub-portfolios or unit holdings.  The I-Maps System even caters for sub-portfolios that hold sub-portfolios that hold sub-portfolios, ....

Within the I-Maps System sub-portfolio holdings can be:

  • Packed
    • the sub-portfolio shown as one security
  • Unpacked within the parent
    • the holdings of the sub-portfolios distributed within the parent portfolio
  • Unpacked in their own window
    • the holdings of the sub-portfolios shown in their own separate window

Sub-portfolios can be unpacked or packed "live" within the system.

 Sub-portfolio in its own window

Sub-portfolio unpacked within the parent 

 

Applications

A strength of the I-Maps System is its ability to have portfolios whose holdings are themselves portfolios. This allows it to deal with the following applications:

  • Multi-Managers  Dealing with multi-manager products that consist of holdings that are themselves portfolios is a particular strength.
  • Long-Short Hedge Funds Long-Short Hedge funds are dealt with by showing all the long holdings as one sub-portfolio and all the short holdings as another sub-portfolio. The top fund has a positive weight in the long sub-portfolio and a negative weight in the short sub-portfolio. The map then shows where the long and short sub-portfolios are positioned (from which can be seen how much they offset each other) and the position of the overall portfolio that arises from combining the two sub-portfolios.
  • 130 Long, 30 Short Funds These portfolios are normally shown as a portfolio with holdings in three sub-portfolios: the 100% part, the extra long 30% part and the short 30% part.