PWI+, the only independent index grounded in reality.

Access the first independent reference indices constructed from thousands of real discretionary portfolios. Compare your results with a peer group that reflects the actual market – all fees included, risk-adjusted, and updated daily.

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Complexity made simple

We believe that true transparency requires both simplicity and scientific rigor.

While the PWI+ is presented as an intuitive benchmark, it is the result of a massive daily processing engine.

How we construct the PWI+ Daily

1

Direct injection

Anonymised data flows automatically from the Core Banking Systems and PMS of our contributors. We capture daily valuations net of fees, ensuring no manual manipulation or spreadsheet errors enters the system.

2

Strict eligibility

Quality over quantity. To be included, a portfolio must have a history of at least 3 months, during which the stock market was operating for at least 65 days, and a value exceeding $50,000 USD. This eliminates “ghost accounts” and ensures we only track meaningful management decisions.

3

Statistical cleaning

We use Inter-Decile (P10-P90) range to detect and filter out the outliers. This method handles the asymmetric nature of financial returns, automatically excluding extreme performance to reveal the true market consensus.

Precision in classification

Performance without context is noise. Unlike broad market averages, we break down the investment universe into 9 distinct Risk Budgets and 4 Reference Currencies based on your declared mandate, not on your holdings. This ensures you are compared to a mirror image of your strategy – without ever needing to share your asset allocation breakdown.

Updated every day, these indices provide a neutral benchmark for assessing both performance and volatility with all fees & tax (transaction fees, custody fees, VAT, stamp duty) included. You get a reliable sector consensus that respects your specific risk constraints.

The Calculation Methodology

Algorithmic Objectivity

Time-Weighted Return

Neutralizing Cash Flow Bias

We believe a manager’s track record should reflect their skill, not the timing of your capital movements. We utilize the Time-Weighted Return (TWR) method to ensure that large deposits or withdrawals never distort the performance curve.

Furthermore, every data point is calculated with all fees and tax included, reflecting the actual return delivered to the end client after all transactions and movements are taken into account.

Methodology: Time-weighted return (TWR)

Data basis: 100% all fees and tax included

Included movements: Custody, management & trading and a wide range of other deductible costs

Cash flows: Neutralized (Non-distorting)

Valuation: Mark-to-Market (Daily)

History: 10+ years of historical data

The Reference Quality (PWI+)

Statistical Rigor & Data Hygiene

To compare your performance, we build a reference index (PWI+) based on real peer data, not theoretical market indices.

This engine requires strict hygiene: we filter out “noise” using advanced statistical cleaning (Inter-decile range) to remove outliers. Moreover, to ensure integrity, all index data is frozen 15 days after receipt – preventing any retroactive manipulation of history.

Min portfolio size: > $50,000 USD

Min history: >3 months

Cleaning: Inter-decile Range (P10-P90)

Outlier cutoff: >1.5x Deviation

Locking status: Frozen at Day+15

Modifications: Blocked

Built on Trust

Data cleaning are only half the battle. To create a benchmark you can rely on, we apply a strict aggregation logic designed to eliminate bias and protect integrity.

Fair Representation

Unlike market indices dominated by the largest assets, PWI+ delivers a fair representation of the market. Each ecosystem counts as one vote, ensuring the benchmark reflects the average strategy, not the biggest contributor.

Unbroken Continuity

In rare cases of low participation, our engine activates a strictly matched fallback composite, ensuring your reporting never faces a “missing data” error.

Ready to benchmark with the truth?

See the PWI+ indices in action and discover where your performance truly stands.