Quantum computing startup releases asset allocator for portfolio optimization
Quantum Computing (QCI), an advanced technology company developing quantum ready applications for quantum computers, announced the release of its first “Quantum Ready” software application – The Quantum Asset Allocator (QAA).
The target market (estimated at over $1 billion) for QAA is financial institutions that are currently addressing asset allocation problems but are looking for better tools with which to optimize portfolio performance. QAA is available both as a cloud-based software service and as an on-premises software + hardware system.
Both implementations are designed to quickly return optimal or near-optimal interactive solutions and analyses of financial asset allocation problems. QAA leverages a financial institution’s strategy for calculating risk and expected return, based on analytical values for the various index sectors and subsectors in its investable universe.
QAA has been proven to enhance fund strategy by calculating the optimal portfolio mix to maximize returns in beta tests against portfolios using traditional portfolio management techniques. QCI is already working with beta clients to implement QAA in their environment.
Robert Liscouski, CEO of QCI said in a statement the software “will provide small- and medium-sized funds the ability to do asset allocation that previously was the province of large brokerage firms, mutual fund and the largest quant funds”, adding that beta tests have demonstrated superior portfolio performance using quantum inspired techniques on both classical and existing quantum computing hardware.
Steve Reinhardt, VP of Product Development at QCI, said in a statement: “This is the launch of our first of a series of products that will leverage quantum techniques to provide differentiated performance on both classical computers and on a variety of early-stage quantum computers such as DWave and other annealers, which are on the market today. Our applications are designed to be deployed on a client’s infrastructure on premises or in the AWS cloud”, he added.
Mark Wainger, director of Application Development, said in a statement: “Asset allocation is well known for being a complex calculation, with several types of constraints making it an NP-hard problem. QCI’s Quantum Asset Allocator has been tested and proven to provide superior results for portfolio management.”
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