Blog Contributors

Ryan Nauman
VP, Product and Market Strategist
Stephen Berei
VP, Client Services & Implementation
Jeremy Poulin
Senior Client Consultant

Stephen Berei

VP, Client Services & Implementation

Stephen Berei serves as Vice President of Client Services & Implementation. He oversees all operations related to non-technical support of all Zephyr products, Zephyr Reporting Service Bureau, custom client solutions, and training. In addition, this role may also be involved in areas of product and project management. To date, Stephen has focused his career around financial services. Prior to Zephyr, Stephen was a Financial Modeling Analyst at Standard and Poor’s – The IMAKE Group. Stephen holds a B.S. in Economics from Carnegie Mellon University. He has a MBA from the University of Nevada – Reno. Stephen joined Zephyr in 2009.

 

Recent posts

Can’t get the market cap for an asset class you are using in Black Litterman? Try this!

14 Jan, 2015
Have you ever found yourself searching for an asset class to use in the Black Litterman model, only to find we unfortunately don’t provide the market capitalization for that asset class? Well, just because you don’t have the market cap at your fingertips does NOT mean you can’t utilize the advantages of Black Litterman. Here’s a tip how you can utilize both the Black Litterman and Historical Models to build your efficient frontier and allocation when using asset...

Debbie George: Using StyleADVISOR to Define Your Edge

04 Nov, 2014
A few weeks ago we hosted a spectacular, informative webinar presentation from a long time Zephyr StyleADVISOR user, Debbie George. Debbie has been using the program for over 10 years. She is the President of Growing Emerging Managers’ Services (GEMS) and Managing Director at Logan Capital Management, where she is responsible for institutional client and consultant business development and client service. She has over 20 years of investment industry experience, building strong...

Learn how to wrap text and change column headers in StyleADVISOR

19 Dec, 2013
There are several common StyleADVISOR formatting questions we receive that are simple to achieve. Two of the most popular questions involve how to wrap text and how to change the column headers in a table.

Have you ever had trouble finding the appropriate benchmark for a product?

29 Aug, 2013
Are you ever unsure what benchmark to use for a specific product? Several times we get the question as to which benchmark would be appropriate or the "correct" benchmark to run versus a manager.

Delegate your reporting to the Zephyr Reporting Service Bureau

14 Aug, 2013
Do you create fact sheets, tear sheets or any type of reports that are run on an annual, quarterly or monthly basis? Client feedback suggests that many don’t necessarily have the time or the desire to create these fact sheets, tear sheets or reports themselves. Delegate the work to us! We are excited to introduce the Zephyr Reporting Service Bureau!

Spruce Up Your AllocationADVISOR Reports

20 Nov, 2012
The sister program to StyleADVISOR, AllocationADVISOR (AA) never seems to get as much credit as it deserves. The program has the ability to make several formatting edits that most of our clients are unaware of. Although not as flexible as StyleADVISOR, the program does have some useful formatting features.

The Style Drift Score

27 Aug, 2012
The Style Drift Score measures the change in style over time.

How to make the most of your Zephyr SMA data

09 Aug, 2012
The U.S. Zephyr SMA Database is a monthly and quarterly separately managed accounts database. There are about 10,000 products currently in the database with around 2,400 firms contributing.

Take Advantage of Peer Group Analysis

28 Jun, 2012
The idea behind a universe or peer group analysis is to compare a manager against its peers through the analysis of various statistical values at different percentiles or their ranking within that peer group.

Get a Handle on Zephyr Universes

06 Jun, 2012
There is not one end all, be all method in which one can construct a universe or peer group. One approach is to build universes on fund or SMA performance. For example, one could build his/her universe using Returns-Based Style Analysis (RBSA), R-Squared, or Tracking Error. A second approach could be to base the universes off the reported fund holdings. At Zephyr, we use RBSA to construct our universes with the methodology described below.

The Style Benchmark Explained

10 Apr, 2012
The Style Benchmark is a combination of indexes that best defines the style of a manager. In other words, it is the combination of indexes that best replicates the historical behavior of the manager by providing the lowest tracking error to the manager.

8.2: Practical Uses of the New Features

15 Mar, 2012
It’s always exciting for us to release new versions of our programs because it gives us the opportunity to unveil what our development team has been working on over the past several months or longer. We strive to include additional features in our products that we not only believe are useful and practical for our clients as well as (and most importantly) features that our clients specifically request.

UCITS: Key Investor Information Document (KIID) and the SRRI Calculation

26 Aug, 2013
In reaction to the current financial crisis throughout Europe, there is a strong drive to provide clearer information about investment products to investors. The "KIID" 2-page factsheet document replaces the Simplified Prospectus, in which the UCITS IV legislation has required all investment companies to provide to investors prior to any investments made.

RDR – Applying an Institutional Investment Approach to the Retail Sector

30 Dec, 2011
Throughout Europe important structural changes are being made to the retail investment advice industry. In the UK, this is being implemented under what the Financial Services Authority (FSA) calls the Retail Distribution Review or RDR, an initiative that will be enforced starting December 31st, 2012. The FSA’s key objective is to give consumers confidence that the advice and products they buy are best suited to their requirements.

Periodic Returns Graph in StyleADVISOR

01 Dec, 2011
Is a periodic returns graph possible in StyleADVISOR? YES! With some outside-of-the-box thinking we can create it. You can only graph ONE manager in this graph and it will be a bar chart.

Blending Managers with Short History

03 Nov, 2011
I’ve had this question come up a lot lately and I’d like to address it here. Some managers just don’t have a lot of history. This can cause a blended portfolio utilizing these managers to have a short history as well. When a blend is created in StyleADVISOR it will default to the common period; you do have the option to set the begin date prior to the common period, but that is just avoiding the issue rather than providing a solution.

Alpha Star

23 Sep, 2011
I think this statistic is one that may not be so popular, but could prove to be very useful. The statistic is a measure of risk-adjusted excess return first introduced by Richard C. Marston in 2004.

MSCI Exchange Rates

19 Jul, 2011
At Zephyr, we consistently receive questions on where the data in our program comes from. The answer is that we receive our data straight from the vendors. However when it comes to the exchange rates, the answer may not be so clear.

Advent Performance Data Upload into StyleADVISOR

23 Jun, 2011
Did you know you have the ability to upload performance data from Advent? In order to export returns from Advent and then import into StyleADVISOR, three necessary pre-conditions are required

How to create a Calendar Year Universe Chart or Table

24 May, 2011
A common question when using StyleADVISOR is, “Can we create a Universe Chart on a Calendar Year basis?” The answer to this is Yes. To do this, you will need to modify the Manager vs. Universe Chart or the Manager vs. Universe Table.

Black-Litterman Model - Market Caps

28 Apr, 2011
Black-Litterman Model (BLM) As an introduction topic for our blog, let’s discuss Market Capitalization in the BLM, why it matters and how it can help determine forward-looking returns.

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