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RiXtrema Researchers Win Prestigious Peter L. Bernstein Award

Submitted by Technology Tools for Today on December 17th, 2015


Honored for Extraordinary, Compelling Research

RiXtrema announced that an article written by four members of its executive and advisory team has been awarded the 2015 Peter L. Bernstein Award by Institutional Investor Journals. Risk Estimation and Hedging: A Reverse Stress Testing Approach was published in The Journal of Derivatives in April 2015. Authors were Yaacov Kopeliovich, Arcady Novosyolov, Daniel Satchkov and Barry Schachter.

Named for celebrated economic historian, author and consultant Peter L. Bernstein, the award honors extraordinary and compelling research published in any of Institutional Investor’s 11 market-leading journals over the previous 12 months. The winning paper was chosen through a blind review process by an independent committee that comprised Gary Gastineau (ETF Consultants LLC), William Goetzmann (Yale School of Management) and Ronald Kahn (BlackRock).

“We are thrilled and honored to receive this coveted award,” said RiXtrema President Daniel Satchkov, CFA. “The work on which the article was based is fundamental to our suite of risk software products, used by many top institutional investors and introduced to the independent financial advisor community in 2014. It is gratifying and validating to be selected by some of the leading experts in our field.”

Committee member Ronald Kahn noted the analysis in the article has a very practical benefit—the potential to build better portfolios. “Reverse stress testing provides insight beyond traditional value-at-risk, by identifying the most likely tail risk scenarios,” he added.

RiXtrema, founded in 2010, is the only institutional quality risk analysis provider for independent financial advisors that is also selected by many top institutions, including the Nobel Foundation. The Portfolio Crash Test tool is currently used to collectively manage over $400 billion. Built on a solid analytical framework with scientific credibility, the tool now provides independent advisors and broker/dealers with a risk management solution that truly serves the investor’s best interest.

The authors will share a monetary award generously provided by Research Affiliates LLC, whose Chairman and CEO Robert Arnott said, “The authors’ approach provides information beyond that available from a traditional risk decomposition of VaR, as well as provides an algorithm that can be used to operationalize tail risk hedging. This annual tribute to the memory of Peter Bernstein and his devotion to the research that strengthens the investment industry is always a welcome milestone in my year. Congratulations to the authors on their valuable contribution to the risk management literature!”

ABOUT RIXTREMA
RiXtrema, founded in 2010, is a portfolio crash-testing company that helps advisors discuss risk with clients. Long used by fund managers, pensions plans and funds of funds, RiXtrema has introduced its risk management tools to the financial advisory and broker/dealer community to help ensure that clients get the analysis and advice they need. RiXtrema recently introduced BioniX, the first robo platform for advisors that includes sophisticated risk modeling. For more information, visit www.rixtrema.com.

ABOUT INSTITUTIONAL INVESTOR JOURNALS
Institutional Investor Journals offer in-depth, original, and practical research in key areas of investment management and finance, including fixed income, index investing, derivatives, trading, private equity, portfolio management, structured finance, and wealth management.  Written and edited by world-renowned practitioners and academics, the journals are extensively read and highly regarded in the industry.

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