Skill Screening Module

Product Description & User Guide

Overview

Aapryl’s Skill Screening module is designed to streamline the process of identifying top investment managers. By combining proprietary skill-based analytics with flexible multi-dimensional filtering, the module enables investment professionals to efficiently narrow large manager universes down to high-probability outperformers.

The module supports managers across multiple product types — Mutual Funds, Separate Accounts (SMAs), and ETFs — and covers equity and fixed income strategies globally. Data powering the screens comes from both third-party providers and Aapryl’s own proprietary calculations.

Learning Goals

• Understand the basics of Aapryl’s Screening module
• Use the Screening module to increase the probability of choosing managers who will outperform
• Understand the data points available to both view and screen managers

Step 1: Primary Filters

Users begin by defining the investment universe using the primary filter bar at the top of the Screening module. These filters determine which managers appear in the results table.

Step 2: Results Table

Once primary filters are applied, the results table auto-populates with all matching managers. The table is fully customizable — users can add or remove columns to surface the data points most relevant to their mandate.

• Click any column header in the black heading bar to sort ascending or descending
• Select managers using checkboxes to queue them for deeper analysis
• Aapryl Probability is displayed by default and is the primary outperformance signal

Available Data Fields (50+ Columns)

The following categories of data are available to add to the results table:

Step 3: Secondary Filters

After reviewing the results table, users can apply secondary filters to narrow results further. Any field that has been added to the results table becomes available as a secondary filter criterion.

• Secondary filters support the following operators:
• Greater than (>)
• Greater than or equal to (>=)
• Less than or equal to (<=)

Example Filter Combinations

Step 4: Run Analysis

After using filters to build a shortlist, users select managers and proceed to deeper analytical tools using the action buttons on the right side of the interface.

Fixed Income Skill Screening

Aapryl offers a parallel Skill Screening module specifically designed for fixed income managers. The workflow mirrors the equity module but is optimized for bond strategies, with an expanded set of FI-specific data fields.

Fixed Income-Specific Primary Filters

• Custom Universe, Product Type, Portfolio Strategy, Aapryl Categories (FI-specific)
• Target universes include: Core Investment Grade, Credit Intermediate, EM Hard Currency, and more

Fixed Income Data Fields

In addition to standard performance and ownership fields, the FI module includes 29 sector exposure columns:

Fixed Income Screening Use Cases

• Core mandate: Filter Core Investment Grade + Probability >60% + Duration 4-6
• Tax-exempt: Muni Intermediate + Consistency Score >0.8
• Satellite allocation: Credit Long + Expected Alpha >1.5%
• Save frequently-used FI universes as Custom Universe templates for recurring screens

Key Insights & Best Practices

Equity Screening

• Aapryl Probability above 70% identifies managers with high odds of top-quartile performance over 3 years
• Edge Score dominance in Stock Selection vs. Factor Timing reveals whether alpha comes from security picks or style rotations
• Long inception dates with low fees balance experience against cost drag
• Market Cycle Placement shows which economic phases favor each manager

Fixed Income Screening

• Agency MBS + Treasuries Intermediate dominance signals a liquidity focus
• EM HY + Bank Loans tilts indicate yield-seeking strategies
• Edge Score superiority in Security Selection over Factor Timing identifies strong credit pickers vs. duration timers
• High Aapryl Probability (>70%) combined with ownership diversity metrics supports dual mandates

For more information, visit www.aapryl.com