One of the most requested features since we launched 18 months ago has been the ability to combine clones across funds, fund groups, strategies and attributes into one portfolio. Simply put, our members want the ability to create 'portfolios of clones', backtest their combined performance and track them going forward.
Today we're making good on that request by introducing “Clone Lists”. Our Full Members can now combine multiple “tracked clones” into a custom list for which we then calculate the combined performance. Members can create as many lists as they want and all lists can be edited or deleted.
Here are a few ground rules:
Getting started is easy. Simply go to your “Tracked Clones” page and click the “Create a Clone List” button on the top right.
Full Members will recognize the paradigm we're using to create clone lists because it is very similar to creating a custom group. Simply give your clone list a name, select which clones you want to add by clicking the green “plus sign” icon next to each of your tracked clones, then scroll down to the bottom and click the “Create New Clone List” button.
Once your list is created you can access it using the drop down list on the Tracked Clones page.
We hope Clone Lists will better allow members to tap the power of AlphaClone and make it even easier to achieve their investment objectives. As always we want to hear what you think so please don't hesitate to give us feedback.
The new ranking feature allows you to quickly identify which group of managers will benefit or be harmed the most as events unfold around a stock. Like the features we rolled out a few weeks ago, this one is also accessible by Basic and Full Members only. Here's a screenshot of the new sortable table for Dendreon [DNDN] which surged more than 26% today as the FDA approved Provenge, a first-of-a-kind prostate cancer treatment that uses the body's immune system to fight the disease. Looks like CR Intrinsic Investors was the biggest beneficiary of the news.
Basic and Full Members can now view a manager’s holdings for any quarter as far back as 1999, not just the current quarter. This includes the ability to view historical sector and cap pick holdings and distributions as well as new buys/sellouts and increases/decreases in positions. Simply click on the “Holdings” tab for any manager to access that manager’s holdings.
Basic and Full members will begin receiving customized alert emails beginning tomorrow that alert them when a fund manager(s) for which they are tracking a clone on their “Tracked Clone” list files a Form 13G or 13D with the SEC. For the uninitiated, institutional managers who purchase 5% or more of the outstanding stock in a public company must file either a 13G or 13D filing to disclose the transaction. The difference between the two filings (G or D) has to do with the manager’s intent – if the manager intends to influence the direction of the company they must file a 13D, if they intend to stay passive then they must file a 13G.
Here’s the way the alerts work. If you are tracking a clone by any single manager, say Baupost, then each time Baupost files either a 13G or 13D it will be included in your customized alert. In addition, if you’re tracking a clone for any fund group, say Tiger Cubs, then when any manager in that group files you will also be alerted to that filing. The only exception is for the “index”, “sector picks”, “cap picks” and “international” groups. Since these groups contain over 100 managers each, we felt they were too broad to trigger their filings’ inclusion in the alert email.
Members will receive ONLY ONE email per day that aggregates all filings for manager’s they are tracking for that day. If there are no filings then no email will be sent. If you are a Basic or Full member and prefer to NOT receive these alert emails, simply sign in to your account, click the “your membership” link at the very top, then click the new “Preferences” tab to switch off the alert emails. It’s that simple.
