Institutional portfolio management, risk analytics and portfolio construction for alternative and multi-asset portfolios.

Integrated investment data, stress testing, portfolio optimization, alternative investment analytics and shadow accounting within one platform.

Investment Platform For Fund of Funds and Multi-Asset Portfolios

Risk Shell is a comprehensive Software as a Service (SaaS) platform for alternative investments and multi-asset investment portfolios. It offers a complete solution covering the entire investment process including asset selection, portfolio construction and optimization, stress testing, peer group analysis, data management, CRM and due diligence tools. The Fund of Funds Manager, a part of Risk Shell, offers various tools for post-investment tasks, including fund shadow accounting, portfolio management, and reporting. Risk Shell is used by a diverse array of institutional investors, spanning from fund of funds managers to HNWI wealth managers and family offices. Our clients share a common need for sophisticated risk analytics and customized solutions, which are not typically offered by conventional risk platforms.

Risk Analytics, Portfolio Management & Portfolio Construction At Your Fingertips

The Risk Shell analytical engine comprises the following functions:

Quantitative and qualitative asset screening and manager selection
Risk analytics delivering hundreds of statistics
Macroeconomic Scenario Screening™
Multi-statistic and traditional Peer Group Analysis
Returns-Based Analysis and Holdings-Based Analysis
Portfolio optimization with Market-neutral Portfolio Builder
Optimization back testing
Portfolio What-if analysis
Portfolio marginal risk contribution
FlexiRank™ component - a user-defined asset ranking system
Portfolio stochastic simulation
Stress testing (macroeconomic events and correlation stressing)
Risk budgeting (multiple budgeting strategies including Equal Risk Contribution, Most Diversified Portfolio, Global Minimum Variance and more)
Performance attribution analysis, style analysis, manager style drift and factor analysis
What-if modeling for options and derivatives to assess the impact on your portfolios
Private equity analysis tools
Over 50 interactive charts including 3-D charts
Investment reporting software
Shadow accounting for Fund of Funds and multi-asset portfolios
Portfolio management tools tailored for family offices
CRM & Document management
Due Diligence tools developed for hedge fund investors

Risk Shell Highlights

Risk Shell Modules

Risk Shell integrates more than 35 components, spanning asset selection tools, stress testing, factor analysis, portfolio construction, fund of fund accounting, peer group analysis, data management, due diligence framework, and investment reporting, among others.
Factor Analysis

Risk Shell provides both Static and Dynamic factor and attribution analysis to identify the key market forces driving fund performance.
Stress Testing

The Stress Test component integrates advanced multiple regression models such as elastic-net, Ridge, and LASSO. It also features specialized tools that assist users in creating custom factor subsets to generate optimal-fit models.
Peer Group Analysis

The exclusive Multi-statistic Peer Group analysis enables the simultaneous comparison of assets against their peers across various risk statistics. Pioneering the industry, it introduces stress test data, allowing users to assess and compare the effects of market shocks in relation to their peer group for the first time.
Portfolio Optimization

Risk Shell's portfolio optimization features advanced non-linear optimization with sophisticated objective functions, such as Omega, CVaR, Maximum Drawdown, Lower Partial Moments, and more. Additionally, it includes a Market-neutral Portfolio Builder, enabling the construction of portfolios that are resilient to market shocks.
FoF Manager - Shadow Accounting

Fund of Funds (FoF) Manager delivers a comprehensive accounting framework designed specifically for hedge funds and alternative investments. It offers advanced shadow accounting functions, portfolio liquidity and exposure analysis, cash-flow analysis and multi-currency cash management for multi-asset portfolios.
FoF Manager Charts

FoF Manager charts offer a range of analytical insights, including portfolio exposure analysis, liquidity ladder, cash-flow projections, and strategy profit and loss (P/L).

Risk Shell Introduction

03 Nov 2026;
10:00AM - 11:00AM
Fund Manager Portfolio Management Suite

03 Nov 2026;
03:00PM - 04:00PM
Risk Shell overview (USA)

04 Nov 2026;
09:00AM - 10:00AM
Risk Shell overview (Europe)

17 Nov 2026;
03:00PM - 04:00PM
Risk Shell overview (USA)

Risk Shell Unique Features

Trend Segmentation and Macroeconomic Scenario Screening

Risk Shell supports Trend Segmentation, allowing investment data to be analysed across different market and economic regimes. Macroeconomic scenario screening can then identify how instruments and portfolios behave under defined economic conditions, adding a forward-looking dimension beyond conventional historical performance statistics.

Stress-Test Database Covering 500K+ Instruments

Risk Shell maintains a continuously updated stress-test database covering more than 500,000 instruments. The pre-analysed stress data can be used for instrument research, peer analysis, portfolio risk assessment and scenario-driven investment analysis.

Multi-Statistic Peer Group Analysis Integrated with Stress Testing

Risk Shell combines peer-group analysis with stress-test information rather than treating them as separate research processes. Investment peers can be evaluated across multiple statistics and then compared using stress-test results to assess both historical characteristics and behaviour under defined risk scenarios.

Portfolio Optimization with Stress-Test and Macroeconomic Constraints

Risk Shell supports nonlinear portfolio optimization in which stress-test results and macroeconomic factor exposures can be incorporated directly as portfolio constraints. This supports scenario-aware and factor-controlled allocation, including market-neutral portfolio construction.

Nonlinear Portfolio Optimization with Explicit Risk Constraints

Risk Shell provides nonlinear optimization for complex institutional portfolios, allowing investment objectives to be combined with explicit risk constraints. Relevant risk limits can be incorporated into the optimization process itself rather than assessed only after the portfolio has been optimized.

Shadow Accounting for Alternative Investments

Risk Shell includes shadow accounting designed for alternative investments and integrated with the main risk-management platform. It supports hedge funds, private equity and other complex structures while connecting accounting and portfolio data with the same environment used for risk and performance analysis.

Master-Feeder Portfolio Structures

Risk Shell's shadow accounting framework supports complex master-feeder structures, including portfolios with multiple feeders and multiple masters. Underlying positions and portfolio information remain integrated with the wider Risk Shell risk and analytics environment.

AI as a Natural-Language Layer over the Risk Shell GUI

Risk Shell AI provides a natural-language interaction layer over the existing Risk Shell graphical interface. Users can access analytical functionality and platform knowledge through natural-language queries while retaining the established GUI-based workflow.

Tail-Risk Analysis Beyond Conventional Volatility Measures

Risk Shell extends risk analysis beyond standard deviation and volatility with measures including VaR, CVaR, Omega, Sortino and other downside and tail-risk statistics. Multiple measures can be used together to evaluate different characteristics of portfolio risk.

Higher-Moment and Non-Normal Distribution Analysis

Risk Shell supports analysis of higher moments and non-normal return characteristics. Skewness, kurtosis and related distributional properties can be incorporated where asymmetric outcomes and tail behaviour are relevant to institutional portfolios.

Holdings-Based Analysis Across Funds and Portfolios

Risk Shell provides holdings-based analysis that looks through funds to their underlying positions. Institutions can examine actual exposures, concentrations and underlying instruments rather than relying solely on reported fund classifications or strategy descriptions.

Factor Screening and Regression-Based Instrument Research

Risk Shell can identify instruments according to their sensitivities to selected economic factors, indices or benchmarks and can search for specified correlation or regression relationships across large investment universes.

Private Equity Analytics Based on Investment Cash Flows

Risk Shell provides specialized private equity analytics built around irregular capital calls, distributions, valuations and long investment horizons. The framework includes private-equity-specific measures such as Index IRR, Direct Alpha and KSPME.

One Risk Platform for Alternative, Traditional and Proprietary Investments

Risk Shell brings traditional investments, alternative assets and proprietary institutional data into a common analytical environment. Hedge funds, private equity, equities, commodities, mutual funds, custom instruments and institution-specific datasets can be analysed within the same platform.

Risk Shell Components

Risk management and portfolio construction for alternative investments

Asset Selection

Hundreds of quantitative and qualitative filters for building precise asset and investment manager screening criteria across alternative and multi-asset investment ...

Explore component

CRM & Document Manager

Document management and due diligence tools for alternative investments and multi-manager funds.

Explore component

Custom Assets

Tools to create and maintain virtual databases of user-defined assets within the Risk Shell environment.

Explore component

Factor Analysis

Multivariate Returns-Based and Holdings-Based Factor Analysis with Static and Dynamic Style Analysis for identifying the drivers of fund and portfolio returns, factor ...

Explore component

FlexiRank™

Asset ranking on user-defined synthetic risk statistics: several weighted measures combined into one rank, rather than a sort on a single conventional statistic.

Explore component

Holdings

Holdings-Based Analysis for hedge funds, funds of funds and multi-asset portfolios across equities, fixed income, commodities, derivatives and other asset classes.

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Index Builder

Advanced quantitative framework to create custom benchmarks and factor subsets that ensure the best fit for any asset.

Explore component

Investment Reporting

Report Builder delivers a flexible SaaS based investment reporting solution designed for fund managers and family offices.

Explore component

Macroeconomic Scenario ...

Macroeconomic Scenario Screening™

Macroeconomic Scenario Screening™ is Risk Shell's proprietary framework for selecting investments according to their historical ...

Explore component

Stress Testing

Historical and factor-based stress testing for hedge funds, fund of funds and multi-asset portfolios, with predictive scenario analysis and a continuously updated ...

Explore component

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Alternative Investment Management Software

Shadow Accounting for Alternative Portfolios

Nonlinear Portfolio Optimization

Natural-Language Access to Risk Shell

Select Assets for the Scenario You Define

Peer-Relative Stress Testing

Investment Platform For Fund of Funds and Multi-Asset Portfolios

Risk Analytics, Portfolio Management & Portfolio Construction At Your Fingertips

Risk Shell Highlights

Risk Shell Introduction

Risk Shell Unique Features

Trend Segmentation and Macroeconomic Scenario Screening

Stress-Test Database Covering 500K+ Instruments

Multi-Statistic Peer Group Analysis Integrated with Stress Testing

Portfolio Optimization with Stress-Test and Macroeconomic Constraints

Nonlinear Portfolio Optimization with Explicit Risk Constraints

Shadow Accounting for Alternative Investments

Master-Feeder Portfolio Structures

AI as a Natural-Language Layer over the Risk Shell GUI

Tail-Risk Analysis Beyond Conventional Volatility Measures

Higher-Moment and Non-Normal Distribution Analysis

Holdings-Based Analysis Across Funds and Portfolios

Factor Screening and Regression-Based Instrument Research

Private Equity Analytics Based on Investment Cash Flows

One Risk Platform for Alternative, Traditional and Proprietary Investments

Risk Shell Components

Risk management and portfolio construction for alternative investments

Macroeconomic Scenario Screening™