Index, Portfolio and Risk Solutions

POINT Innovative Multi-Asset Portfolio Analysis

The Difference Is Clear

POINT: Dynamic Decision Support

Flexible portfolio and index reporting
Draw from our vast database of current and historical data View constituent-level indicatives, security analytics and returns Aggregate along multi-dimensional breakdowns Drill down into individual sector holdings Apply context-specific custom views Compare historical data across multiple portfolios and indices Report on market exposures and sensitivities and track performance over time Explore changes in index composition over any period using index turnover reports Easily export any report to XLS, PDF or CSV formats

Portfolio management
Create and maintain portfolios through an automatic batch process Build dynamic transactional or position-based portfolios Generate daily holdings using trade date accounting Access index prices and analytics or override using custom data sources Model or proxy private placements, OTC derivatives and other securities as user-defined instruments Analyze the effect of potential trades using what-if analysis Organize portfolios into a hierarchical composite structure

Benchmark management

Access both Barclays and third-party indices across the equity and fixed income markets Define custom indices with flexible inclusion/ exclusion conditions

Create composite indices using specific weights or analytic targets Generate index dynamics and turnover reports Manage exposures to specific tickers

Contact the POINT Team to arrange for a free trial of POINT: pointhelp@barclays.com | 2

POINT: The Difference Is Clear

POINT combines an extensive multi-asset library of proprietary market data and state-of-the-art models to deliver a clearer understanding of portfolio sensitivities and drivers of performance.
Global risk models
Tracking error Monitor risk and create efficient hedge strategies Understand relative and absolute risk using intuitive, detailed, multi-factor risk models Decompose systematic, idiosyncratic and default risk exposures Partition risk across factors, sectors and customizable dimensions Capture cross-asset and issuer level correlations Use custom prices and analytics to fully understand portfolio risk Tail risk Evaluate Monte Carlo simulations to calculate Value-at-Risk (VaR) and Expected Shortfall (conditional VaR) Account for issuer concentration and default correlations Quantify tail risk contributions, including systematic, idiosyncratic and default risk

Scenario analysis and stress testing

Empirical scenarios Apply a scenario to portfolios instantaneously or over a time horizon, assessing the impact of hypothetical returns across market moves Define multi-currency government/swap curve movements and USD municipal curve movements Adjust horizon pricing using custom or historical sector betas Capture the impact of vega exposure to parallel and non-parallel shifts in the volatility surface Factor-based scenarios Leverages POINTs risk factor model framework for flexible scenario analysis Provides users with a single platform to investigate hypothetical multi-asset class scenarios Define hypothetical views on an index, portfolio or factor returns Results are sensitive to the covariance matrix selected and are well suited for multi-asset class portfolios Select pre-defined historical stress tests

Hybrid Performance Attribution (HPA)

The HPA model enables clients to compare performance against a standard or custom index, another portfolio or cash. Daily transactional data is used to identify the sources of outperformance. HPA introduces elements of a risk factor-based framework into traditional sector-based attribution to create a custom hybrid approach Define a multi-level partition to mimic a portfolios management structure Choose market value or risk-based weights to measure exposure to currencies or sectors Account for P&L gained from intraday transactions

Portfolio Optimizer
The Portfolio Optimizer enables clients to construct, rebalance or hedge a portfolio at the click of a button, incorporating userspecied objectives and constraints, via a user-friendly interface. Target portfolio characteristics such as risk, analytics or userprovided data. Run fast and scalable linear and non-linear optimizations Replicate an index using tracking error minimization Analyze trade recommendations for strategy implementation
Contact the POINT Team to arrange for a free trial of POINT: pointhelp@barclays.com | 3

POINT: Global Multi-Asset Class Coverage

Fixed income
Global Government, Credit, High Yield and Inflation-Linked Securitized Products: MBS, ABS, CMBS and CMOs Emerging Markets: Coverage in 85 currencies Municipals: Comprehensive state database Swap curves in 37 currencies Treasury, Swap and Municipal curve-based analytics

Equities and commodities

Common Stock, Closed-End Funds, ETFs, ADRs, REITs, Convertible Bonds, etc. Developed and Emerging Markets in 84 countries and 48 currencies Commodity futures for over 20 contract deliverables

Derivatives
Exchange Traded: Bond Futures, Interest Rate Futures, Currency Futures, Equity Index Futures, Options on Futures, Equity Options and Equity Index Options OTC: Interest Rate Swaps, Caps/ Floors, European Swaptions, CDS, CDX/iTraxx, TRS and FX Forwards

Capital structure analysis

Applies a consistent methodology for analysis of corporate bonds, equities, convertible bonds and options
Default probability

Median default probability prior to default 30

POINT CDP Rating

25 20 15 10 5 0

Computes credit risk analytics such as Corporate Default Probabilities (CDP), Conditional Recovery Rates (CRR) and default correlations Utilizes macroeconomic dynamics to produce timely default predictions Incorporates accounting data adjustments for more accurate comparisons across industries Enables relative value analysis by comparing default implied ratings

-36

-30

-24

-18

-12

-6

Months to default

Actionable research POINT is the product of more than a decade of proprietary research. The benchmark content, valuation models and portfolio analytics are the result of continued renements by the POINT modeling team and the collective efforts of Barclays Research. The Index, Portfolio and Risk Solutions team within Barclays Research provides an integrated client service model for POINT providing support and training backed by a wealth of experience in custom benchmark development, risk management and portfolio advisory services.

Contact the POINT Team to arrange for a free trial of POINT: pointhelp@barclays.com | 4

POINT: Advanced Analytics Platform

POINT provides comprehensive solutions for every stage of the investment process. The platform leverages Barclays research and technology to offer advanced multi-asset portfolio construction, risk forecasting and performance analysis.

Why POINT?
POINT provides dynamic analytics to meet the needs of a diverse customer base in a rapidly changing market environment. The platform combines the intellectual capital of Barclays leading research and trading operations with a highly scalable technology solution, processing tens of thousands of portfolios and millions of unique securities per night.
6% 7% 7% Other Pension Fund 57% Commercial Bank Hedge Fund Insurance Company 13% Money Manager

Client types

10%

Key features
Slice and dice index and portfolio data Model risk across all asset classes Employ advanced portfolio construction tools Evaluate performance attribution

POINT: Comprehensive and user-friendly research platform delivering powerful portfolio analysis Global coverage
Fixed income Derivatives Equities Commodities Custom user-defined instruments Major indices and custom benchmarks

Scalable platform
Flexible front-end for intraday analysis Automated reporting and portfolio maintenance Robust, enterprise-wide batch processing Client data security

Single-security analytics
Indicative, pricing and analytical data Option-adjusted analytics based on government, swap and municipal curves Equity sector betas and sensitivities to fundamental and technical factors

Portfolio analysis
Multi-factor risk models Hybrid Performance Attribution Portfolio optimization and hedging tools Scenario analysis What-if analysis of potential trades

Client cross-asset solutions

Access to industry-leading valuation models Consistent view of portfolio metrics Integrated understanding of risk across asset classes Dedicated client service and global teams

Contact the POINT Team to arrange for a free trial of POINT: pointhelp@barclays.com | 5

Contacts
Contact the POINT team to arrange for a free trial of POINT.

Americas
pointhelp@barclays.com Tel: +1 212 526 1234 Ext. 2

Europe
pointeurope@barclays.com Tel: +44 (0)20 7773 0379

Asia
pointasia@barclays.com Tel: +81 3 4530 1760 Japan Tel: +65 6308 2225 Asia Ex Japan

Disclaimer
This information has been prepared by the Corporate & Investment Banking Division of Barclays and is issued by Barclays Bank PLC and/or one or more of its afliates (collectively and each individually, Barclays). All information is provided as is and Barclays makes no express or implied warranties, and expressly disclaims all warranties of merchantability or tness for a particular purpose or use with respect to any data included herein. Barclays makes no representations that the information contained herein or any of the analytic tools or reports referenced herein are accurate, reliable, complete, or appropriate for use by all investors in all locations. Because of the possibility of human and mechanical errors as well as other factors, Barclays is not responsible for any errors or omissions in the information contained herein or any of the analytic tools or reports referenced herein. Barclays will not treat unauthorized recipients of this information herein as its clients. Without limiting any of the foregoing and to the extent permitted by law, in no event shall Barclays nor any of their respective ofcers, directors, partners, or employees have any liability for (a) any special, punitive, indirect, or consequential damages; or (b) any lost prots, lost revenue, loss of anticipated savings or loss of opportunity or other nancial loss, even if notied of the possibility of such damages, arising from any use of, or reliance on, this information, analytic tools or reports referenced herein. Barclays is not utilizing this document to provide investment advice to you or any other party. The information, analytic tools or reports referenced herein and any results derived from their use provided herein are intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation is made that any returns will be achieved through their use. Any data on past performance, modelling or backtesting contained herein is not necessarily indicative of future results. All levels, prices and spreads are historical and do not represent current market levels, prices or spreads, some or all of which may have changed. Any price provided herein is non-binding and is subject to change and may differ from a live bid, offer or price subsequently quoted by Barclays. The receipt by you of such price shall not constitute a binding transaction at such price. The information referenced herein or any of the results derived from any analytic tools or reports referenced herein are not intended to predict actual results and no assurances are given with respect thereto. Barclays does not guarantee the accuracy or completeness of information which is stated to have been obtained from, or is based upon, trade and statistical services or other third party sources. 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IRS Circular 230 Prepared Materials Disclaimer: Barclays does not provide tax advice and nothing contained herein should be construed to be tax advice. Please be advised that any discussion of U.S. tax matters contained herein (including any attachments) (i) is not intended or written to be used, and cannot be used, by you for the purpose of avoiding U.S. tax-related penalties; and (ii) was written to support the promotion or marketing of the transactions or other matters addressed herein. Accordingly, you should seek advice based on your particular circumstances from an independent tax advisor. Barclays is not responsible for, and makes no warranties whatsoever as to, the content of any third-party web site accessed via a hyperlink contained herein and such information is not incorporated by reference. Copyright Barclays Bank PLC (2012). All rights reserved. No part of this information may be reproduced in any manner without the prior written permission of Barclays or any of its afliates. Barclays Bank PLC is registered in England No. 1026167. Registered ofce 1 Churchill Place, London, E14 5HP. Additional information will be furnished upon request.
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