Turing Technology Revolutionizes Mutual Fund Due Diligence by Launching Hercules Fund.AI, a Data Engine Based on Real-Time Fund Replication

Wilmington, Delaware. June 01, 2023 – Turing Technology Associates (turingta.com), an AI-powered financial technology company is pleased to announce the launch of Hercules Fund.AITM, a comprehensive data publishing business based on the ability of Turing’s Hercules SystemTM to replicate actively managed mutual funds on a real-time basis. Turing’s ability to accurately clone existing mutual funds has been proven to be an order-of- magnitude superior to any such technology in the market today, and on average replicates funds at a 99.4% accuracy rate. Turing currently has more than 1,000 funds replicated within its database.

Turing’s Hercules Fund.AI provides several never-before-seen, real-time holdings-based applications that will dramatically advance manager due diligence, competitive fund benchmarking, and individual stock research.
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[QUOTE #1 – NON-TURING PROFESSIONAL HIGHLIGHTING THE VALUE OF REAL-TIME HOLDINGS DATA TO MANAGER RESEARCH/DUE DILIGENCE.]
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One of Turing’s current reports is the Stock Picker’s Scorecard, a dynamic, 100% quantitative 3-year performance assessment of a fund manager’s biggest stock bets (i.e., largest overweight positions) versus the fund’s primary benchmark. Managers are scored from 0 to 100, with 100 being a perfect score.

The most recent output of the Stock Pickers Scorecard delivers some highly contrasting insights. Within the Large Growth category, the $100 billion Fidelity Contrafund has a Score of 24, the $50 billion T. Rowe Price Blue Chip Growth fund earned a Score of only 1, while the $50 billion JPMorgan Large Cap Growth fund delivered a very strong Score of 78.

Applications for stock research and benchmarking include customized reports built from a client-selected group of funds, focusing on manager stock selection conviction. The report would identify all stocks with real-time overweight positions (i.e., managers’ biggest stock bets), highlight frequency of occurrence, and provide levels of consensus conviction.

Focusing on individual stock research, reports include identification of funds holding a selected stock as either an overweight or underweight position, and could include tracking changes over time. This type of report can identify under-researched stocks deserving attention, extract consensus wisdom of fund research, and identify stocks declining in manager conviction.

According to Robert Nestor, Senior Managing Director of Turing, “We know the power of this data. Evaluating, selecting, and monitoring active fund managers is an imprecise and frustrating exercise because of a lack of real- time transparency. Turing’s Hercules Fund.AI changes that paradigm, allowing manager assessment and insight at a heightened diagnostic level.”

Turing’s Hercules System is an integrated, security-level system that can replicate, on a real-time basis, the security holdings and portfolio weights of more than 2,000 actively managed mutual funds. Hercules has been in live operations since Turing’s inception in 2016, and the Hercules Database currently holds the replicated data of more than 1,000 mutual funds, reflecting more than $4 trillion in fund assets.

Output of the Hercules Fund.AI is offered to commercial clients via data licensing agreements for standard reports or for reports customized by clients. Turing is currently looking for distribution partners for standard reports to deliver to either financial professionals or individual investors. Turing does not offer raw fund holdings data.

For more information contact Turing at contact@turingta.com.