Covestor and CVIM Blog

CVIM Model Managers

We are shortly going to pass the fifty mark of people managing models available for live replication in a single managed account and it seemed timely to share this visual of the diversity of managers on there.

There are an incredible mix, from Andy Djordjalian down in Argentina managing a South American ADR model over to Yinglin Tan in Singapore who has written a book on Venture Capital and Invests in Asian Venture backed equities. Although they all trade on US markets they already span the globe. 

View Model Manager Locations in a larger map

We are very proud of all of the managers on there, both Investment Advisors and Individual Investors. We hope we are also providing them with a platform to broaden their reach for the hard work they are already doing. If you are interested in investing alongside them or in joining them give the team a call: 1.877.873.8830

Seeking freelance Business Analyst for project in London

Business analyst with proven software development lifecycle experience required to work on a cutting edge web project for online investment management start-up, Covestor.

You will capture and document the requirements from senior stakeholders for this complex project, define the various use cases and identify any required process changes.  You will work closely with the development team on implementation and manage quality assurance.

You have strong, structured business analyst skills.   Having previously worked in an agile web development environment, you will have a track record of being able to deconstruct complex and interlocking requirements into implementable and testable components.

Prior finance experience preferred but not required.  Initially a 2 month project.

About Us

Covestor Investment Management (CVIM), an SEC registered investment advisor, is the world’s first web based money management platform.  It provides a managed account service, previously only available to those with millions of dollars invested with a wealth management firm, where one can invest alongside any brilliant self-directed individual or professional investor (www.cv.im).

CVIM is the transactional platform of Covestor (www.covestor.com) the leading real-trade sharing service that lets any committed investor, individual or professional, build a track record, establish a fund and benefit as if they were a professional money manager. 

What to Do Next…

This is a contract position based in Covestor’s London office.  Only passionate, energetic and ambitious individuals who are also eligible to work in the UK should apply.  If that’s you, don’t delay, send your CV and details of your current compensation to jobs0110 (at) covestor.com.

Optimization of Trade Replication Process

When a model manager submits an order, their broker sometimes breaks down the order into multiple fills for execution to optimize the price achieved. 

For example, a model manager enters an order to Buy 1,000 ICXT.  The broker is able to fill 400 immediately at two different prices and breaks down the remaining 600 into 3 equal lots of 200 which are all filled 10 minutes later on 3 different exchanges.  This executes the manager’s order in full and results in a total of 5 fills.

Our real-time feed from the model manager’s broker account provides us with this stream of fills.  To date our systems have replicated each of these fills for clients.  Using the above example, this would result in the creation of 5 client orders for replication.

Yesterday we changed our trade replication algorithm to aggregate model manager fills that are executed by the broker at the same time.  Using the example above, we would now create 2 client orders for replication instead of 5.  This matches the number of trades the model manager would see as having been executed on their broker statement.

As always, if you have any questions do contact our client relations team.

New Feature: Updated CVIM Profiles

We are working at Covestor on continuously improving the profiles of the Model Managers available for auto trading in a CVIM managed account. Today we put live a number of these elements which should make it easier for clients and prospective clients to find appropriate models, and understand what they are subscribing to.

The updates include:

• Performance Charts: We are now charting the performance of the members who are managing models. You can select the period or zoom in by selecting the area on any chart to look at the detail
• Cleaner summaries: THe investment strategies are tabbed to give a clearer sense of what the model is all about
• Holdings and Trades : Logged in clients can view all of the back up data on the models available for subscription. This includes the history of trades, current holdings and all investment reports. Some of the managers have chosen not to share all of the trades and their current holdings and so on a few of the models this data will be hidden

We are shortly going to be adding some metrics for average monthly client performance (where available), i.e. the average performance the clients are achieving rather than the actual returns achieved by the manager of the model as currently displayed.

We will keep building out the profiles and providing more and more information on the models available. If there is anything you would like to see included do get in touch. Our client relations team are also available any time if you want to understand how to get set up as a client. Happy New Year all!

Covestor issues open invitation to enable anyone to become a portfolio manager *

As the first asset management firm to provide our clients open access to investment strategies, Covestor has opened its investment platform, Covestor Investment Management to all individual or professional investors.  Any investor can now earn fees as others follow their lead.

To join the platform a model manager must be willing to disclose real brokerage moves, and share at least a year of performance history.  Becoming a model manager requires accepting the appropriate agreement (depending on whether the individual is a professional or non-professional investor) and funding a brokerage account for live replication.

If you'd like to manage a model you can find out more or contact Eric Esterkin, Director Manager Relations at 646 502 8726.

* Unregulated individuals do not manage third party funds, but sell their trading data to CVIM.  CVIM may use that data at its sole discretion to manage its clients' funds based on their suitability.

Announcing the Launch of Covestor Investment Management (CVIM)

 Today we are proud to announce the public launch of Covestor Investment Management (CVIM). 

CVIM has developed the world’s first retail Multi Managed account or MMA. With an MMA you can invest directly alongside professional and retail investors, managing their own money in their own account. It is a new category of Investment product that gives you access to expert managers like a hedge fund with the security and transparency of a managed account.

CVIM licenses real time trading data from a large number of active investors and using this data creates a model of each. When you open an MMA you are given access to the models of these investors that you can subscribe to. Once you have decided which models best suit you they are auto traded for you in real time in your own managed account. Just like with an online brokerage account, CVIM then gives you a transparent view into your positions, transactions and performance per model in your MMA. An MMA puts you in control of your own fund of funds.

The CVIM platform is an open one for investment talent. For the past two years, Covestor.com has become the destination for investors to share their portfolios and build a verified investment record. CVIM takes this to the next level, recruiting model managers from Covestor.com and beyond, to offer you unbiased access to the models of a diverse set of investors. They are vetted investors, doing it with their own money in it together with you.

 At Covestor we have always believed that this is how Investment Management should be done, open, honest, accessible and fair. No Wall Street conflicts of interest, no jargon, no middle men and no hidden fees. It levels the playing field for money management and puts you back in control. The platform combines proprietary software with institutional back office systems to deliver a secure, reliable and compliant experience.

The team has been working to build CVIM for the best part of three years and this post is in large part a tribute to their hard work. To find out more visit the new CV.IM website.  We look forward to welcoming you as a client.

Update: Launch coverage http://www.techcrunch.com/2009/07/22/covestor-now-lets-you-trade-alongside-its-top-amateur-investors/