This past month has been all about investment. We aim to give you the most flexible investment options around, so you can manage your asset portfolios however you like. With that in mind we’ve introduced the concept of Investment Strategies, and have added features to give you significantly more control over the behavior during investment. To read more about the features released in February, read on. To see more about investment strategies in particular, visit the support site.
NEW
Investment Strategies
Instead of configuring a single asset allocation for pro-rata buying/selling, we’ve introduced the concept of Investment Strategies, accessible through the Assumption Management module. All existing allocations have been migrated into this new structure, and now users can configure the behavior of investment in greater detail.
Keep track of all your different investment strategies. Strategies and allocations are automatically versioned as needed, so you always know what was driving the investment on any projection.Multiple investment strategies can be used on a single portfolio.
Investment Strategy Matching Rules
In addition to Pro-rata, a new rule type is available: Target Value Match. This allows users to buy/sell while trying to maintain a target value on the portfolio (ex: Duration/Convexity Matching).
Allocations are used on the buy side to give users the flexibility/control of deciding the level of granularity to use when buying.Rules can be chained together, so if duration matching fails (including partial failure), the remaining amount will be handled by the next rule.
Investment Strategy Constraints
Constraints are also available for configuration on investment strategies. The current options allow for limiting of groups of assets using product level variables and upper/lower limit percentages.
Constraints currently only apply to the new Target Value Match rules, but can be configured using any product variables you’d like to use to group your assets.
IMPROVEMENTS
Data tables for newly added table structures now appear under the table structure in the compare view.
Additional endpoints around file management have been added to the Automation API.
Stability improvements around status updates when running a large number of scenarios.
General improvements to dialogs across the site.
Interface improvements to the Goal Seek formula’s settings area.
The debug view now maintains all applicable state when changing variables to make it easier to navigate.
We’ve added a Projection ID to the debug view to quickly change to newer/older runs.
Portfolios are now sorted by name in all lists in Model Development.
FIXES
Allocation % is now hidden on allocations set to Auto, to avoid confusion.
Apostrophes in portfolio names no longer cause issues on the debug view.
Fixed the compare view for indirect array variables.
Option price formula now allows a risk-free rate of zero.
Fixed yield curve calculations for yield curve of less than 30 years.
Fixed a compare issue for tables with missing nested table values.
Projections using product output groupings no longer sometimes cause errors during comparison.
Model point fields that are used by allocations can now be deleted (with a warning).
Model point filters now properly clear out when switching the product, allowing for proper re-selection of new fields.
Nested data table validation errors no longer cause unknown failures at the start of the run.
The debug view’s array value dropdown now initializes properly in all cases.
Excel “#N/A” references no longer cause unknown errors during parsing.
Our product development team is hard at work in this new year to bring you all some great new features. While many large initiatives are still in the works, see below for this months latest features, updates, and fixes!
NEW
Product Compare & Merge
The product compare and merge features have been merged into a single view and updated to the new compare & merge interface to match the new model compare.
Automation API Released
For customers with licensed access to it, the initial version of our application programming interface (API) has been released, with initial endpoints for automating the management of files and self-serve API credentials generation within the SLOPE interface. Please contact your account rep for details, if interested.
IMPROVEMENTS
Converted error to informational message when a portfolio variable references a product variable that cannot be found on any products.
Stabilization improvements have been made around queueing of projections, especially with a large number of scenarios.
FIXES
The compare view now properly compares the Gender and Age formulas on an Annuity Factor.
Single clicking a node in the relationship view no longer performs the action of a double-click.
Product Variable validation errors are now properly displayed on projection validation.
‘Back to Details’ link on relationship view no longer causes visual issues with the documentation field or the formula builder.
IRR formulas that fail with a result that is positive or negative infinity now show up properly on the debug view, if a default value fallback value was used.
Fixed an issue with goal seeks inside array formulas sometimes resulting in errors.
Fixed array value dropdown on the debugger being inaccurate for some variables that were array variables and force recalc variables.
Invalid dates are no longer resulting in an unknown error when importing a data table.
Fixed link to sales allocations from projection validation details.
Arrays that were once referenced by deleted products can now be removed.
Fixed an issue where long running sequential scenarios sometimes failed to start, requiring a restart of the scenario in order to finish the run.
Another year over, and what a year it was. We hope that despite the challenges this year has presented, that each of you has something to celebrate as the year comes to a close. We stayed busy this year, and here is another round of updates to make everyone’s SLOPE experience even better. Here’s to more great things coming in 2021!
NEW
Model Compare & Merge Overhaul
The model compare and merge screens have been combined into a single feature and the interface has been completely overhauled to allow for easier navigation of changes.
A more modern interface, with auto-complete for finding models easier and the ability to swap source and target with a single click.Sidebar navigation of model components with searching capability to quickly find changes. Scope the view to the changes you want to see, and merge changes that support it (indicated with an icon in the sidebar).
Investment/Sales Auto Allocation
A new option is available on asset (investment) and liability (sales) allocations to allow an automatic distribution based on allocation field across all products in the allocation, bypassing the need to manually set percentages on each product. This is the default option for new allocations.
Investment/Sales Allocation Versioning
Asset and liability allocations are now automatically versioned and can be viewed from the ‘Inputs Used’ section of the projection after it has been run.
IMPROVEMENTS
Table structure columns now have a “Description” field for additional documentation.
Array variables now show the array name on the relationship view as well as on hover of the variable name in the formula builder.
Further explanation of functionality appears when the Dynamic array option is selected during array create/edit.
Performance improvements have been made around copying, merging, and validating data tables.
The product output grouping dropdown on projections now has autocomplete functionality.
Only configured tables appear on completed projections in the Execute module, preventing blank table selections that were not actually used during the run from appearing.
Whitespace is now trimmed from variable names, preventing accidental spaces in names which can cause confusion in the reporting module.
Models are now sorted alphabetically on the ‘Create Projection’ dialog.
FIXES
Nested table cells with no table to select are now properly handled, and a message is displayed that no tables are available.
Merging a new array now also merges the array values.
Fixed an issue causing some projections to get stuck in ‘Writing Final Results’ status after failing.
Fixed ‘Add New’ row button sometimes disappearing in the data table editor.
A new version of the Slope Life Library has been released and made available. This update includes some new products, updates to accounting structures, and support for A&H products, which we will be releasing more of in the near future.
New Products
The Individual Disability Income liability product is now available. This product includes support for active and disabled lives. It includes accounting treatment for US Statutory and US GAAP bases. Multiple new tables were added to support this product as well.
The Interest Rate Swap asset product is now available. This product can be used to model swaps between fixed and floating payment streams.
Updates
Additional variables were added to Portfolio and Company level to support separate reporting of A&H policies in the income statement and balance sheet.
Accounting aggregation for claim reserves and claim expenses were added to Portfolio and Company levels
Disability Income Industry Tables were added to the model and are also available on the Industry Tables page of the Support site. This includes the 1964 CDT, 1985 CIDA, and 2013 IDI tables.
As we roll into the holiday season, we continue to roll out some great features for you. More flexibility and faster setup means more time to sit back, relax, and enjoy all the pumpkin flavored goodies that make an appearance this time of year.
NEW
Product Sets Have Been Removed
In an effort to make configuration easier, simpler, and more flexible, we have removed the concept of ‘Product Sets’. Instead, products are now attached directly to template/projection portfolios, as well as asset/liability allocations. This accomplishes a few things:
Simplifies the setup process, especially for simpler projections.
Allows configuration of investment and/or sales allocations that have different products in them than the inforce portfolio contains.
Prepares the interface for more complex investment and sales strategies that will be released soon.
Clarifies the differences between liability/sales allocations (which now exist under the ‘Dynamic Sales’ area in Assumption Management), and asset allocations (which now exist under the Investment/Disinvestment area in Assumption Management).
The ‘Product Sets’ area in Assumption Management has been replaced with these two options.Investment/Disinvestment has its own area now. More advanced strategies are coming soon!Simply add/edit/delete products directly on the allocations. Duplicate products are allowed! This interface is also similar to how template/projection portfolio products are edited now.
Table Structure Relationship View
Want to know all the variables that reference a particular table structure? Now you can! We’ve added a relationship view to table structures to easily trace what uses a table.
Nifty! Navigate here from the table structure details.
New Reporting Dashboard Folders
To help organize the system dashboards, we have added sub-folders for particular types of reports. All folders/groups are collapsible, as well.
Array Index/Value System Variables
For clarity and additional flexibility, we’ve changed the ‘Current Array Index’ system variable to be named ‘Current Array Value’. This system variable still returns the value stored in the array. A new system variable, now named ‘Current Array Index’ has been added and returns the index (starting at zero) of the current array value within the array.
Given an array of [A, B, C], if the system is currently calculating B, value would return ‘B’, and index would return ‘1’.
IMPROVEMENTS
Product output groupings can now be merged from the Merge Model Changes page.
When merging a dynamic array, the referenced output groupings can now be mapped, instead of copied.
The user who ran a projection now appears in the list views and on projection details in the Execute and Analyze modules.
Table structure merging performance has been improved.
Minor performance improvements when updating a data table causes a new version to be created.
Minor messaging and interface adjustments.
FIXES
Fixed a display issue with dynamic aggregates that caused the ‘Current Index’ info message to appear in some cases where it was actually referenced.
Long lists inside modals now scroll to avoid making the confirm button unclickable.
Added a more descriptive message when a self referencing dynamic aggregate causes an infinite loop.
‘Output All Results’ now properly also affects non time indexed portfolio and company variables.
Fixed error message when an invalid nested table reference exists during calculation.
Single Value Array Formulas are now properly cleared out when formula is converted to a non-array variable.
Fixed some instability in the formula builder that sometimes caused duplicate formula tokens to appear.
Dynamic array variables that have no results now write a zero value to the DB instead of no value.
Fixed an error caused by attempting to compare products without a product selected.
Early in October we introduced Dynamic Arrays at the Portfolio level! When configuring an array, select a Type of ‘Dynamic’ to enable this feature, and select a Product Output Grouping to use for the values. During the run, the output grouping results will be used to create an array, and variables that depend on this array will automatically iterate over the array values that were calculated. This is especially useful for logic involving cohorting!
In this example, we’re creating an array that will use the calculated Issue Years at each time period as its array values. Pretty fancy.Then simply select your new array when creating your variable. Instant dynamic array! Reference array indexes and perform array aggregates within formulas as you would a static array.
Product Compare/Merge
Individual products can now be compared and/or merged in the Change Management module, using a similar interface to the Diff/Merge Models pages. This allows the merging of changes to individual products, including products on the same model.
Debugger – View Force Recalc Results
The debugger now shows Force Recalc inner loop values when available. When ‘Output Force Recalc Results’ is on for debugging purposes, looking at a Force Recalc variable will show an extra input for the inner loop time, allowing users to see all calculated values in an easy-to-understand interface.
IMPROVEMENTS
Performance improvements relating to queueing projections.
Performance improvements when loading projections in the Analyze module.
Minor performance improvements for VM spin-up time.
Minor stability improvements around saving of formulas.
Minor formula builder stability improvements relating to Dynamic Aggregates.
Improved calc engine performance when no tables are referenced.
Product variable validation errors now appear on the projection validation screen.
FIXES
Fixed an issue that sometimes caused single scenarios in stochastic runs to not be restartable.
Debug links no longer appear in some invalid cases, preventing invalid links.
Old mortality table versions no longer appear when copying a model.
Fixed scenario table file copying when copying a model across workspaces.
Fixed an issue sometimes preventing the user from starting a stochastic run .
Fixed an issue where projections could sometimes not be compared from the compare screen.
Fixed excel sheet name sometimes not loading in file selection dialog.
Data tables can now be immediately edited again after saving, even if the table was just versioned on the previous save.
Greater flexibility. More control. The new file manager allows you to organize your files however you want. Much like a local file system, you can now create folders and sub-folders, and move files and folders wherever you’d like.
Oh my.
Not only does the new interface look slick, it also provides all the existing features as well as drag & drop and search functionality!
File options menu
Folder options menu
New file selection with search and inline file uploads directly into folders.
Present Value – Yield Curve Time
An input for ‘Yield Curve Time’ is now available on Present Value formulas, allowing calculations using the yield curve at times other than the current time.
Dynamic Aggregates
Dynamic aggregates now allow users to specify index names, which enables referencing different indexes from within a nested aggregate.
We don’t know what ‘i’ or ‘j’ are, but by god we’re going to multiply them together and perform an aggregate on the results.
IMPROVEMENTS
Product Output Groupings
To help with performance and clarity, product output groupings will no longer automatically perform a power set of the variables included in the output grouping. Now, each variable must be explicitly defined in the grouping and included in the configuration. To keep existing models/projections unchanged, we have created each permutation of each output grouping that already existed. For example, an output grouping of “Issue Year, Gender” would now be represented by 3 groupings, “Issue Year, Gender”, “Issue Year”, and “Gender”. Multiple groupings can be selected on each product on the projection/template, and unneeded permutations can be left off for performance. In the reporting module, these groupings can be selected to properly filter the results. Please ask your account rep for further information, if necessary.
Tons of Performance Improvements!
We don’t like to wait for things. And neither should you. With that in mind, we’ve made tons of performance improvements this month to make things faster, smoother, and generally ‘snappier’. Some areas we’ve made everyone’s lives better:
Model Execution/Model Results: We’ve made some large underlying infrastructure changes that affect both of these modules. What does that mean for you? Well, one day you woke up and your runs were faster and your reports loaded in less time. Sweet. This has a particularly large impact on stochastic/multi-scenario runs and loading reports at the model point level.
Calculation Engine: We’ve also improved the processing of product aggregates with and without groupings, in static and dynamic modes, helping performance to a varying degree for nearly all runs.
Projections now validate and queue a bit faster.
Data table loading performance has also been improved.
Other Improvements
Navigating to the model validation details page now forces an update of any validation counts to make sure users have the latest and greatest information.
FIXES
Fixed the error message on Cash Before Investment portfolio variable to accurately state that it must be time-indexed.
Removed references to ‘Calculate All Variables’ setting which no longer exists.
Attempting to run a projection that has already been queued now shows an error.
Fixed display issue where filters were sometimes showing up on reports that did not use them.
Renaming a projection now updates the reports for that projection.
Updated error message when an Annuity Factor formula results in a negative duration to inform the user how to troubleshoot.
Fixed an issue with the “apply formula to” feature on array formulas that caused shallow copies of some data to be created, and other data to get out of sync.
More complex time formulas within Single Value Formula array aggregates no longer cause errors while processing.
Product output groupings have been moved to make configuration faster & easier. Now, instead of configuring output groupings on each product, users can configure a single output grouping at the product level, and use it across all of the products on the model. Less setup = less wasted time! Existing output groupings have been migrated to this new area, which may cause duplicates if there were duplicate groupings across products, which can be removed if desired to reduce maintenance.
Ahh… much better. Configuration is the same, except now all product variables are available.
Mortality Table Versioning
Mortality tables are now automatically versioned, and previous versions can be selected on projections and templates, and viewed via the ‘Inputs Used’ section in the Analyze module.
Other New Features
Data table versions are now available when comparing tables, so older versions can be compared.
Percentile metrics are now available when building dashboards for Company and Portfolio results.
IMPROVEMENTS
Model Copy Improvements
Copying a model has been moved to a background process so users do not have to keep the window open while the model is copying. Models being created from a copy show up as “Creating…” in the model list until they have completed copying.
For users with access to multiple workspaces, models can now be copied across workspaces.
The copy model page now uses alternating row background colors to make it easier to make selections.
Model copy performance has been improved.
Other Improvements
When only one filter option is available on a dashboard, that option is now automatically selected.
A message icon now appears in the debug view when the value of a time-indexed variable cannot be resolved.
Model point results are now available even when the error limit is reached for a dynamic model point, allowing for easier troubleshooting.
Users can now use the browser ‘Back’ button on browser windows/tabs that have been logged out once logged back in, to pick back up where they left off.
A more useful error message now appears when attempting to calculate a present value calculation with an empty Currency parameter.
File only data tables are no longer copied when copying a model, to improve performance and prevent unnecessary duplicates of files.
Data/Mortality table merge performance has been improved.
Calculation engine performance and memory usage improvements.
Minor performance improvements around validation of projections before queueing.
FIXES
Assumption sets are now appropriately re-applied when changing a product set on a projection portfolio.
Excel date cells that use a custom format can now be imported without parsing errors.
Mortality table select period frequency is now persisted when copying a model.
Non-numeric mortality table cells are now properly validated.
IF condition clause order is now maintained when copying a model.
Data tables for deleted table structures no longer appear in the compare/merge views.
OPERATIONS
We continue to upgrade backend technologies, libraries, and packages to stay up to date with the latest technologies for performance and security reasons. We will discontinue including these messages in future release notes, but know that we are continuously upgrading and updating technologies under the hood for you! In the future, we will only include notes about backend technology changes if they have a significant impact on user functionality (such as increased performance).
The first month of Q3 was a busy one, including the release of some Q3 roadmap items, as well as some great features around debugging/troubleshooting, performance, and new options for greater flexibility.
NEW
Model Level Permissions
Access to models can now be controlled at the individual model level, when necessary. This feature requires additional permissions to use, so please ask your Slope representative if you would like access to this functionality.
New option on model details page.
By default, models are shared with everyone in the workspace:
When the sharing setting is changed to ‘Shared With Specific Users’, new configuration options will be displayed where individual users can be added/removed and given specific permissions to the model within the application:
Some big names on this one. Note that if you are not a model administrator, you can remove your own access. Be careful!
The header for each model will display the current access, with extra details on hover. Navigates to the model permission page once clicked.
Indicates everyone can view/edit this model
What a lucky individual
Force Recalc – Inner Loop Results
There is a new setting on templates and projections that allows users to output the inner loop results of force recalc variables. These results are stored in new areas within the reporting module and are available for exploring and dashboard building. Use these results to help troubleshoot those pesky complex force recalc variables!
New Yield Curve Options
New options have been added to Fixed Rate scenario table formulas to allow more flexibility:
IMPROVEMENTS
Data table versions can now be selected when editing data table columns in the editor. The version is displayed next to the table name and is also shown in read-only mode with a link to the table.
Model point file headers are now case insensitive everywhere they are used.
Users can now select text within inputs on the formula builder using the mouse, without dragging the formula.
When reading a data table value in the calculation engine, if the value is blank a more appropriate error message indicates that the value cannot be parsed properly.
Monthly Select & Ultimate tables are now validated to be in increments of 12.
Copy model performance has been improved.
Users can be configured to have a completely isolated file repository, separate from the rest of the workspace.
Scenario table descriptions are now required and validated as such.
Portfolio variables for cash, reinvestment, and sales can now be cleared out, as needed.
Small interface updates in Execute/Analyze to give more feedback to users and prevent actions that can no longer be taken.
All model point error results are now written to the results even if the error limit is reached.
Nested data tables are now automatically versioned along with their referencing table.
Minor performance improvements around the saving of variables.
Reporting filter values are now case insensitive.
FIXES
The ‘Asset Scaling Variable’, when set, no longer appears to be removed in the interface after saving a projection portfolio.
Drag & drop is no longer enabled on the debug and relationship views.
Fixed an issue with real-time validation messages/counts not always updating properly.
Special characters in portfolio, product, and variable names no longer cause issues when navigating to the debug view.
Horizontal scroll bar shows up properly for wide formulas in the debug view.
Fixed an issue where debug view sometimes did not properly identify array variables, making it difficult to switch between array values.
Mortality table formulas that reference variables now show up properly in the relationship and debug views.
OPERATIONS
We’ve updated several backend libraries and frameworks for increased performance, stability, and security. Once again, worrying about things you don’t have to!
Our last update of the quarter, and boy is it a big one! Tons of new features to allow for more flexibility, better performance, and an overall greater experience. We hope you love it as much as we love sharing it!
NEW
Monthly Mortality Tables
Monthly select periods can now be configured for Select & Ultimate tables and referenced in formulas, allowing duration to be specified monthly or annually. This option is also available for Annuity Factor formulas that use mortality tables.
Dynamic/Nested Mortality Tables
There is a new variable data type available called ‘Mortality Table’:
Current data tables that reference mortality tables have been extracted into their own variable of the same name, appended with “Table”, so that you can quickly find the related table.
When setting up new dynamic mortality tables, users must first create a variable that returns the mortality table (usually by reading a data table). Once that variable is created, it will become available in the mortality table formula’s dropdown. This allows dynamic selection of mortality tables at run time. This configuration is now also available for annuity factor formulas, allowing even more flexibility.
Dynamic Aggregates + New Aggregation Options
A ‘Mode’ setting has been added to Aggregate formulas, and a new option, ‘Dynamic’, has been added. In ‘Dynamic’ mode, a start index, end index, and step can be specified, allowing users to create a loop that calculates the operand formula at each step and then aggregates the results.
New aggregate options ‘Average’, ‘Summation’, and ‘Product’ have been added to both modes, allowing users to average, add, and multiply the results together, respectively.
Inside the dynamic operand formula, a new system variable is available called ‘Current Index’ to allow referencing of the current index within the loop.
Other New Features
A new field on model point field configuration allows users to specify if a field is required or not. This prevents validation errors when certain fields are not always needed, and enables users to omit entire columns in files, or allow individual rows to have no value for that field.
A new parameter, Time, is available on scenario table reads, allowing for scenario reads at time indexes other than the current time index.
Projection ID is now available on the projection details in the Execute & Analyze modules for easy access when building reports.
Projection Name is now an available field in the reports.
IMPROVEMENTS
Variable Debug View
Scenario number can now be changed via a dropdown to quickly access other scenarios.
The links to tables in the formula builder now link to the actual data table used in the run, when available, instead of the table structure.
The currently selected variable name is now shown above the formula view for reference.
Fixed alignment of display values that were sometimes misaligned.
Projection Virtual Folders
Folders can now be viewed on projection details and edited directly via a new control in the edit projection dialog.
Virtual folders are now copied when duplicating and/or re-running a projection, so that the new projection remains in the same folders as the original.
Virtual folders are now sorted alphabetically in the sidebar.
Formula Builder
Multiple formulas within a group can now be selected and dragged & dropped together.
Product/Portfolio aggregates now indicate in the formula builder when there are no longer any variables to aggregate, showing the name of the variable originally referenced.
Miscellaneous
Users can now download more than the 5000 row limit in reports. If you need this functionality, please contact your account rep to have this enabled in your workspace.
File versions for investment & sales files on projections are now tracked so the original file version can be viewed.
Cancelled projections now appear in the Analyze module’s projection list.
Improved error reporting when reading from a table that is missing a nested mortality table.
The ‘Calculate All Variables‘ projection setting has been removed to avoid confusion. When troubleshooting results, please use the ‘Output All Results’ option to see everything that was calculated.
We’ve improved the performance of the calculation engine, including improvements when ‘Output All Results’ is enabled.
We’ve improved the performance of variable, table, and model validation.
Minor stability improvements for transient errors/network instability within the calculation engine.
The ‘Convert to model point field’ option has been removed for system product variables.
Product variables that were copied from system variables can now be deleted.
Model point fields are now sorted alphabetically in the Model Point Filters dropdown.
Product sets are now sorted alphabetically wherever they appear in list form.
FIXES
Removed “dead spots” in the formula builder operator control that sometimes did not activate the menu.
Data tables can now be properly converted from non-file tables to file-only tables.
Fixed issues when being logged out on multiple windows and attempting to log back in on more than one of them.
Static model point errors when running with ‘Output All Results’ enabled now properly propagate up to the projection level error status.
Fixed validation error message in calculation engine run logs when file only data tables are missing column headers.
File-only data tables can now be included when copying a model.
Fixed performance when removing a filter from a large variable list.
DateDiff functions where one date is near the minimum/maximum possible value no longer cause an error.
Fixed an ‘unknown’ error message sometimes caused while logging an infinite loop error.
Comparison screens no longer show old versions of data tables.
Fixed an issue causing certain negative time period results to be written twice when ‘Output All Results’ is enabled.
Fixed an issue where self-referencing array variables were not being marked as array variables in certain situations in the interface.
Renaming a file in the file manager no longer causes notes to be lost.
OPERATIONS
As always, we continue to upgrade our backend libraries and technologies to stay up-to-date with the latest patches and updates for performance and security reasons. Isn’t it nice to not have to worry about that stuff?!
