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Novus announces updated hedge fund overlap matrix for investment managers

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Novus, a portfolio analytics and intelligence platform that helps institutional investors analyse their portfolios, has released an updated Hedge Fund Overlap Matrix, a free interactive tool that allows users to access public holdings data. 

This tool is updated every quarter with the latest holdings information.

The overlap matrix is an interactive visualisation that provides users with an innovative way to explore manager portfolios. Overlap is a measure of similarity between portfolios; and the matrix is a collection of 2500 overlap values. Behind each overlap value are securities that are shared by the two intersecting managers. The visualisations enable users to study managers’ uniqueness, crowdedness, and sizing, as well as individual investments. For this matrix, Novus uses public holdings data for a group of 50 managers associated with Julian Robertson’s Tiger Management: the Tiger Cubs.

“The Hedge Fund Overlap Matrix is an irreplaceable tool for investors to understand the portfolio composition of their managers and their own exposure to individual securities,” says Stanley Altshuller, Chief Research Officer at Novus. “It allows them to grasp manager similarities, crowded positions, and the diversification value each manager adds. Managers use the tool to identify other investors in their names and gauge the level of crowding in each security.”

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