Talk:Winton Group

Part of an edit requested by an editor with a conflict of interest has been implemented. (For last remaining issue, requestor will bring up later.)

Back in 2011, I worked on behalf of Winton Capital Management to expand this article with the help of volunteer editors. More than a year later, they've asked me again to help them with updates to bring the article current. To this end, I have a handful of changes and additions below that I'm hoping to have vetted and then moved into the article by another editor, given my COI.

Before I get to the updates, though, there's an issue that's been introduced to the article that I'm hoping someone can address. Throughout much of the current article, Winton is referred to as "WCM", a change instituted by User:Keithbob, who felt that "Winton" was a nickname. However, no one really calls the company "WCM"—in the press, they're usually introduced as "Winton Capital Management", and then called "Winton" from there on out (see here for a nice example of how this is usually handled). I'd like to propose that we bring the article into line with how the company is talked about in the press, rather than instituting a Wikipedia-specific abbreviation, and change all instances of "WCM" in the current article, including in the lead paragraph, to "Winton".

OK, on to the new information! For each change, I've provided the markup so that an editor can easily add this information into the article: First, three updates about Winton's assets under management:

• In the infobox, "Assets under management" should read "$25.5 billion as of February 2013^[update]"

• I'd like to propose that the last sentence of the introduction be updated to read (which also includes a small change in wording to indicate what the $1.6 million figure refers to): "The firm's first fund was launched with $1.6 million in 1997 and as of 2013^[update] it held $25.5 billion in assets under management."

• Lastly, to bring the Assets under management section up to day, I'd suggest that the following sentence be added to the end of the last paragraph:

Second, personnel at Winton has changed a bit; I've provided a paragraph below to replace the current first paragraph of the Operations section, providing up-to-date information:

I'll be back at some point to propose a few other changes, but I'd like to get the information in here up-to-date first. If these suggested edits all look okay, could an editor move them over into the article for me? Cheers, WWB Too (Talk · COI) 20:45, 6 May 2013 (UTC)

This edit request by an editor with a conflict of interest has now been answered.

As mentioned in the previous section, I have more suggestions for updating this article and, as a paid consultant, I feel I should not be the one to implement them. For this one, I see some problems with the wording in the current version:

• First, there seems to have been confusion at some point over the firm, Winton, and the funds that it administers. There are several places in the article where either the incorrect term is used, or there isn't enough context provided for the meaning to be clear:
  • At the end of the last sentence under History#Founding, "the fund was able to secure investors" should read "the firm was able to secure investors."
  • The first sentence under History#Early years begins "In October 1997, the fund was launched..." I'd like to propose that we clarify this a bit and change it to read "In October 1997, Winton's first futures fund was launched..."
  • Finally, the first paragraph under History#Expansion begins with "According to the firm..." However, the previous sentence has discussed both Winton and Goldman Sachs, so it isn't clear which firm this refers to. I'd like to propose that the clause be reworded to read "According to Winton, …"

• Second, reference #4 in the article has somehow lost most of its details. Here's the complete reference:

<ref name="McIntosh Oct 07">{{cite news |title=GSAM Fund Buys Stake in Winton |author=Bill McIntosh |url=http://w3.nexis.com/new/docview/getDocForCuiReq?perma=true&oc=00240&lni=4PVP-55B0-TXN3-T01S&csi=312040&secondRedirectIndicator=true |work=Reuters Hedgeworld |date=8 October 2007 |accessdate=6 May 2013}}</ref>

There's also an addition to the article I'd like to propose:

• There are a couple things that need to be updated in the first paragraph of the Investment strategy section: Winton is now registered with the Securities and Exchange Commision, and what was formerly the Financial Services Authority is now called the Financial Conduct Authority. So, I'd like to update the first paragraph of that section to read as below:

That's all for the moment. I'm happy to answer any questions about the issues I've raised or the current article otherwise. Cheers, WWB Too (Talk · COI) 21:40, 13 May 2013 (UTC)

Gave it a shot. Are you prohibited from editing the page? Cause I think it would be more efficient for you to do the edit yourself. II | (t - c) 14:33, 21 May 2013 (UTC)

Thanks, II. Looks to me like you got 'em all. Good and interesting question about editing directly; I agree it would be more efficient were I to do it. I'll explain on your Talk page in a moment. Cheers, WWB Too (Talk · COI) 16:19, 21 May 2013 (UTC)

This edit request by an editor with a conflict of interest has now been answered.

Following the implementation of my suggested changes above, there are two final additions I'd like to propose here:

• First, in the last two paragraphs of the Expansion section, I've noticed a couple of errors. It was Winton's Diversified Trading Program, not the firm as a whole, that returned the figures given in the article, and the percentage should read -5.38%, not -5.39%. (Sources provided in the following markup.) Additionally, I've added some recent information about Winton's returns in recent years and their continued expansion into China. So, I'd like to propose that the final two paragraphs of the Expansions section be replaced with the below:

• Second, the Investment strategy section currently mentions Winton's use of statistical tools, but more generically than I think is possible in an encyclopedic treatment. (There's also a missing period in the next-to-last sentence in this paragraph that ends with "... its trading models have the highest potential for positive returns.") I'd like to propose adding the following to the end of the third paragraph to provide some insight how Winton deals with data:

And that's all I have for this page for now. I'll be happy to respond to questions or comments from any editor about the above. Cheers, WWB Too (Talk · COI) 16:06, 24 May 2013 (UTC)

• Partially  Done. Having had a look at the information and the corresponding sources, I've made the first set of edits with the addition of a few wikilinks. I've not yet made the second set of edits because I wanted to discuss a particular line first, specifically the ones about King James Bibles. I don't have access to the corresponding source but I assume that quote is a line from the article? If so, I think we should quote it to make it clear we aren't making what is a fairly unusual comparison between big data and bible volumes - I'm not aware of bibles being used as a common standard of measurement. If you could confirm it is a quote, I can put it in quote marks and that should be fine. If it isn't, I think we should find a different comparison, yeah? Cheers, Stalwart111 08:13, 20 June 2013 (UTC)

Hi Stalwart, thanks for making the first change. The part about the King James Bible is from the source, though not quite a direct quote. If you think it would be clearer to quote directly, here's what I would suggest:

In recent years, Winton has further developed its statistical research, focusing on big data; according to the Financial Times, in 2013 its machines processed "the equivalent of 30m King James bibles' worth of information every day".

Is that better? Note: the source lowercases "bible", which seems a bit odd to me, but that is what it says. Cheers, WWB Too (Talk · COI) 14:34, 20 June 2013 (UTC)

It is, so I've now  Done the second part too, with that amended first line and an extra wikilink. Stalwart111 06:56, 21 June 2013 (UTC)

This edit request by an editor with a conflict of interest has now been answered.

In May and June of this year, I proposed several revisions to this article (see the above messages) on behalf of Winton. I now have one very minor request but, given my COI, I think it's best I not edit directly. Specifically, the number of employees listed in the infobox and the body of the article differ, and should be reconciled:

• The infobox lists 206 employees and cites a 2011 Pensions & Investments article.
• The Operations section lists 280 employees and cites a 2013 Financial Times article.

The FT article, being more recent, is the correct one. It's also behind a paywall, so I could quote it for any editor who would like to see that first. If someone would be willing to update the infobox to note that there are 280 employees currently, I'd be very grateful. Cheers, WWB Too (Talk · COI) 17:42, 30 July 2013 (UTC)

 Done - I'll assume the paywalled source says what you say it says (and it would be logical to assume so anyway, given the other data sourced to it) and so I've made the requested edit. Cheers, Stalwart111 06:00, 31 July 2013 (UTC)

Very excellent, thanks! WWB Too (Talk · COI) 14:27, 31 July 2013 (UTC)

This edit request by an editor with a conflict of interest has now been answered.

Hello to anyone watching this page. I have a few updates to suggest for this article, which I think are fairly minor and I hope you'll agree. As you can see from other requests I have posted on this Talk page in recent years, I am occasionally retained by Winton Capital Management to help keep this article up-to-date; this is such an occasion. I will refrain from implementing these updates myself, because of this financial COI with Winton. Instead, I am looking to other editors to review and make these updates for me. I'll try to make this easy to follow:

Additional suggestions for the page, as I mentioned in the thread above. For anyone new to the page, I have prepared these requests on behalf of Winton Capital Management and will therefore avoid any edits to this page. It is my hope that another editor can review this request and make the updates if they agree this represents an improvement:

Investment strategy section

This edit request by an editor with a conflict of interest has now been answered.

I would like to suggest several revisions to the Investment strategy section; compare to the highlighted changes in the first box below.

• First, to clarify Winton's various registrations. Winton is registered with the Commodity Futures Trading Commission, the U.S. Securities and Exchange Commission and the Financial Conduct Authority. While all three of these organizations are mentioned in the article, and sources do provide enough information to clarify the role of the CFTC and SEC, no such source seems to exist for the FCA. This is probably because the FCA is a recent creation, supplanting the FSA (more on that here). One possibility: use the About page from the Winton website, which of course is a primary source. Another: perhaps editors are knowledgable about the FCA and are comfortable making this slight change without a source. I haven't included one in the language below.

• Second, I'd like to add in that Winton invests in global equity markets. Right now the article mentions that Winton invests in futures markets worldwide, but is not so clear about its funds' investment in equity markets. To verify this, I have added this Alpha article that mentions Winton's involvement with global equities markets.

• Third, cash equities have recently become a larger part of Winton's Futures Fund, so I have added a short sentence regarding this to the very end of this section. I have added two sources to verify this. One from The New York Times and the other from Hedgeweek.

Here is what I suggest, I've highlighted my additions so they are easy to see and below is the markup, with the highlighting removed.

Investment strategy section

Since its inception, Winton Capital Management has traded as a commodity trading advisor (CTA). It is regulated by the Commodity Futures Trading Commission as a CTA^[1] and by the Financial Conduct Authority in the UK. Winton is also registered with the U.S. Securities and Exchange Commission as an investment advisor.^[2]

The firm refers to itself as a "modern investment management company" ^[3] and employs managed futures strategies using data analysis and modelling to follow trends in global futures markets such as commodities and bonds.^[4] After establishing the Winton Evolution Fund and Winton Global Equity Strategy, the firm began offering multi-strategy and equity investment programs that invest in equity markets around the world.^[5][6][7]

Winton uses research and quantitative data analysis to identify favourable trends in the market^[8][6] and its focus on research differentiates it from its industry companions.^[5][8] The firm uses scientific research to collect data ^[6] and identify patterns and develop statistical tools, which are applied to its investments.^[9] Winton relies on continuous research to ensure its trading models have the highest potential for positive returns.^[10] Its trading models are informed by relationships identified through applied research of market data;^[6] such as volatility estimations derived from a study of the 1988 corn bull market.^[10] In recent years, Winton has further developed its statistical research, focusing on big data; according to the Financial Times, in 2013 its machines processed "the equivalent of 30m King James bibles' worth of information every day".^[11] In April 2013, Winton was featured in the BBC2 program Horizon: The Age of Big Data for its use of scientific analysis of data, particularly for its capture and processing of large data sets including historical data for the markets that it trades in and newly produced data from thousands of companies.^[12]

Winton's futures trading is highly automated and systematic and uses computer algorithms^[1] to trade futures in financial assets including equities, currencies, bonds, commodities, livestock and energy ^[13] in over 100 futures markets worldwide.^[5] Winton uses a mix of long-term and short-term trading as part of its strategy^[5] and combines uncorrelated strategies to maximize their risk-return ratio.^[5][6][4] According to the firm, it uses the same mathematical tools, for research, statistical data analysis, stock selection, and futures investments.^[14] From around 2008, the Winton Futures Fund has increased its allocation to cash equities.^[15][16]

References

1. [1]

   "Profile: Winton wonderland". FOW Magazine. October 2006.
2. [2]

   "Investment Advisor Search Results". adviserinfo.sec.gov. Securities and Exchange Commission. Retrieved 29 April 2013.
3. [3]

   David Harding (Spring 2008). "What's in a name? Where are CTAs going?". Global Review - Hedge Fund Intelligence.
4. [4]

   "Harding's Hedge Fund Thrives on Surprise". Reuters Hedgeworld. 16 October 2009.
5. [5]
6. [6]
7. [7]

   Stephen Taub (4 March 2014). "The Morning Brief: David Harding's Winton Capital Plots Big Expansion". Alpha Magazine. Retrieved 7 April 2014.
8. [8]

   "It's rocket science: MacBoffins crunch the numbers". The Australian. 13 October 2005. p. 29.
9. [9]

   "A Head for Numbers". Hedge Fund Review. August 2009.
10. [10]

    Bill McIntosh (April 2010). "CTAs Focus On R&D Awaiting Trend Breakout". The Hedgefund Journal.
11. [11]

    Sam Jones (20 February 2013). "Winton Capital have curious minds to supply science to finance". Financial Times. Retrieved 29 April 2013.
12. [12]

    "Big Data in the 21st Century..The New Digital Battlefield..." Business Information Portal. 11 April 2013. Retrieved 29 April 2013.
13. [13]
14. [14]
15. [15]

    Anita Raghavan (7 October 2013). "A Recent Flourish for Winton Capital". The New York Times. Retrieved 7 April 2014.
16. [16]

    "Winton Capital Management – Best Managed Futures/CTA". Hedgeweek. 26 March 2013. Retrieved 7 April 2014.

Markup

Since its inception, Winton Capital Management has traded as a [[commodity trading advisor]] (CTA). It is regulated by the [[Commodity Futures Trading Commission]] as a CTA<ref name="FOW 06">{{cite news |title=Profile: Winton wonderland |author= |url= |work=FOW Magazine |date=October 2006}}</ref> and by the [[Financial Conduct Authority]] in the UK. Winton is also registered with the [[U.S. Securities and Exchange Commission]] as an investment advisor.<ref name=SEC>{{cite web |url=http://www.adviserinfo.sec.gov/IAPD/Firm/130566 |title=Investment Advisor Search Results |last1= |first1= |last2= |first2= |work=adviserinfo.sec.gov |publisher= [[Securities and Exchange Commission]] |accessdate=29 April 2013}}</ref> The firm refers to itself as a "modern investment management company" <ref name="Harding 08">{{cite news |title=What’s in a name? Where are CTAs going? |author=David Harding |url= |work=Global Review - Hedge Fund Intelligence |date=Spring 2008}}</ref> and employs [[Managed futures account|managed futures]] strategies using data analysis and modelling to follow trends in global [[Futures exchange|futures markets]] such as commodities and bonds.<ref name="Hedgeworld 09">{{cite news |title=Harding's Hedge Fund Thrives on Surprise |work=Reuters Hedgeworld |date=16 October 2009}}</ref> After establishing the Winton Evolution Fund and Winton Global Equity Strategy, the firm began offering multi-strategy and [[Equity (finance)|equity]] investment programs that invest in equity markets around the world.<ref name="Cohen 07"/><ref name="Steward 10"/><ref name=Taub>{{cite news |title=The Morning Brief: David Harding's Winton Capital Plots Big Expansion |author=Stephen Taub |url=http://www.institutionalinvestorsalpha.com/Article/3315307/The-Morning-Brief-David-Hardings-Winton-Capital-Plots-Big-Expansion.html |work=Alpha Magazine |date=4 March 2014 |accessdate=7 April 2014}}</ref> Winton uses research and quantitative data analysis to identify favourable trends in the market<ref name="Australian 05">{{cite news |title=It's rocket science: MacBoffins crunch the numbers |newspaper=The Australian |date=13 October 2005 |page=29}}</ref><ref name="Steward 10"/> and its focus on research differentiates it from its industry companions.<ref name="Cohen 07"/><ref name="Australian 05"/> The firm uses scientific research to collect data <ref name="Steward 10"/> and identify patterns and develop statistical tools, which are applied to its investments.<ref name="Review 09">{{cite news |title=A Head for Numbers |author= |url= |magazine=Hedge Fund Review |date=August 2009}}</ref> Winton relies on continuous research to ensure its trading models have the highest potential for positive returns.<ref name="McIntosh Apr 10">{{cite news |title=CTAs Focus On R&D Awaiting Trend Breakout |author=Bill McIntosh |newspaper=The Hedgefund Journal |date=April 2010}}</ref> Its trading models are informed by relationships identified through applied research of market data;<ref name="Steward 10"/> such as volatility estimations derived from a study of the 1988 corn [[Market_trend#Bull_market|bull market]].<ref name="McIntosh Apr 10"/> In recent years, Winton has further developed its statistical research, focusing on [[big data]]; according to the ''Financial Times'', in 2013 its machines processed "the equivalent of 30m [[King James Version|King James bible]]s' worth of information every day".<ref name=Jones>{{cite news |title=Winton Capital have curious minds to supply science to finance |author=Sam Jones |url=http://www.ft.com/intl/cms/s/0/bd9bb8ca-6bb5-11e2-8c62-00144feab49a.html#axzz2RbROl05I |work=[[Financial Times]] |date=20 February 2013 |accessdate=29 April 2013}}</ref> In April 2013, Winton was featured in the [[BBC2]] program ''Horizon: The Age of Big Data'' for its use of scientific analysis of data, particularly for its capture and processing of large data sets including historical data for the markets that it trades in and newly produced data from thousands of companies.<ref name=BIP>{{cite news |title=Big Data in the 21st Century..The New Digital Battlefield... |author= |url=http://www.thebiponline.co.uk/bip/the-new-digital-battlefield-big-data-in-the-21st-century/ |work=[[Business Information Portal]] |date=11 April 2013 |accessdate=29 April 2013}}</ref> Winton's futures trading is highly automated and systematic and uses [[Algorithmic trading|computer algorithms]]<ref name="FOW 06"/> to trade futures in financial assets including equities, currencies, bonds, commodities, livestock and energy <ref name="Yamakazi 09"/> in over 100 futures markets worldwide.<ref name="Cohen 07"/> Winton uses a mix of long-term and short-term trading as part of its strategy<ref name="Cohen 07"/> and combines [[uncorrelated]] strategies to maximize their [[Risk-return spectrum|risk-return ratio]].<ref name="Cohen 07"/><ref name="Steward 10"/><ref name="Hedgeworld 09"/> According to the firm, it uses the same mathematical tools, for research, statistical data analysis, stock selection, and [[futures contract|futures]] investments.<ref name="AutraSy 12" /> From around 2008, the Winton Futures Fund has increased its allocation to cash equities.<ref name=Raghavan>{{cite news |title=A Recent Flourish for Winton Capital |author=Anita Raghavan |url=http://dealbook.nytimes.com/2013/10/07/a-recent-flourish-for-winton-capital/?_php=true&_type=blogs&_php=true&_type=blogs&_r=1 |work=[[The New York Times]] |date=7 October 2013 |accessdate=7 April 2014}}</ref><ref name=Hedgeweek13>{{cite news |title=Winton Capital Management – Best Managed Futures/CTA |author= |url=http://www.hedgeweek.com/2013/03/26/182195/winton-capital-management-%E2%80%93-best-managed-futurescta|work=Hedgeweek |date=26 March 2013 |accessdate=7 April 2014}}</ref>

As with my earlier round of suggested edits I'm happy to answer any questions about the above, though I hope that these edits are straightforward and are seen as an improvement over the existing text. And just a heads up, I will have one more suggestion, once this is resolved. Cheers, WWB Too (Talk · COI) 19:46, 16 May 2014 (UTC)

 Done - as with your earlier round of suggested edits, I see nothing problematic with those changes. Quite the opposite - they serve to provide a more comprehensive picture of the company's investment strategy without self-aggrandisement or advertising and add a couple of useful references. I've made those changes with a few changes of my own to spacing. Stalwart111 23:23, 25 May 2014 (UTC)

Thanks for your help here, Stalwart. And thanks as well for the complimentary remarks; I appreciate you saying so. Now that these edits have been made I have one more request to present. I'll post this below. Cheers, WWB Too (Talk · COI) 17:39, 27 May 2014 (UTC)

Introduction

This edit request by an editor with a conflict of interest has now been answered.

Now that the information related to the company's registrations and investment strategies has been updated in the article, I have one final suggestion to make. I would like to update the introduction to reflect these recent changes to the article. Here are the improvements I'm hoping to make:

• First, to replace "UK-authorised" with "quantitative". Currently the phrase "UK-authorised" is wikilinked to the Financial Services Authority article, which, as I explained above, is no longer the correct regulating body in the UK. I am suggesting inserting "quantitative" into the introduction because that is how Winton's investment strategy is often described and seems to me to be a more meaningful descriptor.

• Second, and similar to my suggestions for the Investment strategy section, I would like to clarify Winton's various regulations. Simply saying that Winton is "UK-authorised", in addition to linking to the incorrect page, fails to address how Winton is authorized in the United States.

• Third, I would like to see Winton's activities better summarized. Currently the introduction only mentions Winton's activities as a CTA, however Winton manages equities in addition to futures contracts so I have added in to the introduction that Winton also trades on global equity markets.

Here is my suggested revision, highlighted, and the markup with the highlighting removed:

Introduction

Winton Capital Management (or Winton) is a British investment management firm founded by David Harding. It is a quantitative investment manager whose trading decisions are guided by models developed from scientific research and mathematical analysis. In the United States, Winton is registered with the Securities and Exchange Commission as an investment advisor and with the Commodity Futures Trading Commission as a CTA, and is authorised by the Financial Conduct Authority in the UK. The company trades on more than 100 global futures markets in a wide variety of asset classes and on global equity markets. The firm was launched with $1.6 million in 1997 and as of March 2014^[update] it held $25 billion in assets under management.^[1]

Markup

'''Winton Capital Management''' (or '''Winton''') is a [[United Kingdom|British]] investment management firm founded by [[David Harding (mathematician)|David Harding]]. It is a quantitative investment manager whose trading decisions are guided by models developed from scientific research and mathematical analysis. In the United States, Winton is registered with the [[U.S. Securities and Exchange Commission|Securities and Exchange Commission]] as an investment advisor and with the [[Commodity Futures Trading Commission]] as a CTA, and is authorised by the [[Financial Conduct Authority]] in the UK. The company trades on more than 100 global futures markets in a wide variety of asset classes and on global equity markets. The firm was launched with $1.6 million in 1997 and {{as of|2014|03|lc=y}} it held $25 billion in [[assets under management]].<ref name=Wright/>

As always, I'm happy to answer any questions about the above. Cheers, WWB Too (Talk · COI) 17:39, 27 May 2014 (UTC)

Looks reasonable, so I made the changes. Tdslk (talk) 02:37, 6 June 2014 (UTC)

Thanks Tdslk - great work. St★lwart¹¹¹ 07:19, 6 June 2014 (UTC)

Thank you as well Tdslk, I appreciate the help. And I have no more requests for the Winton page at this time. Best, WWB Too (Talk · COI) 19:59, 6 June 2014 (UTC)

Hello to everyone who is part of the Wikipedia community and involved with this page. I would like to propose some changes to this article page, as it is terribly out-of-date. In advance, I must acknowledge my conflict of interest as a Winton employee. I am sensitive to the fact that Wikipedia pages must maintain a NPV. That said, the changes that I am proposing are objective and I am happy to discuss them in advance.

Fundamentally, Winton Capital Management is now known as Winton Group^[2][3]. I propose changing the title of the page and URL to align with this, but mention that Winton Capital Management is a wholly-owned subsidiary and point the old URL to the new page.^[4]. My suggestion is to change the introductory sentence to read "Winton Group (which includes Winton Capital Management) is a British investment management firm founded by David Harding." I recommend keeping the nickname 'Winton' throughout, as this is how the firm is typically known and is analogous with the The Goldman Sachs Group, Inc article referencing 'Goldman'.

The company was founded in February 1997 rather than October 1997³.

The company's website address has changed to www.winton.com. I propose changing this URL throughout the article.

The firm's number of employees and assets under advisement are very out-of-date. I propose changing 'assets under management' to 'assets under advisement' (AUA) throughout the article, to reflect the fact that some of the firm's assets are sub-advised. The correct number of employees is 450 and AUA is $32bn as at 25 November 2016^[5].

There is an error in the Expansion section. I recommend striking "In October 2009, the company announced that a passive 10% stake in the firm was acquired by Goldman Sachs." According to the citation, the 10% stake occurred in July 2007. However, this is repetitious with the earlier line, "In July 2007, Petershill Fund, a private equity fund set up by Goldman Sachs Asset Management International, acquired a 9.99% stake in Winton."

Under the Operations section, the CIO and COO named are no longer at the firm. I suggest mentioning that Andrew Moss is the CEO of Winton Investment Management² and that Nicholas Saunders is the Chief Operating Officer^[6].

Winton Group has nine offices around the world: London, Oxford, Hong Kong, New York, Shanghai, Sydney, San Francisco, Tokyo and Zurich^[7]. I would suggest adding this sentence to the end of the first paragraph and striking the line under Operations which reads, "Winton's offices are based in the UK with offices in Oxford and West London".

I look forward to discussing these initial updates and next steps with the community. Many Thanks, Sean.Bernard (talk) 19:00, 25 April 2017 (UTC)

 Done Sean.Bernard (talk) 13:34, 23 June 2017 (UTC)

This edit request by an editor with a conflict of interest has now been answered.

Hi, @Tdslk:. I would like to propose some changes to this section, as it is out-of-date. Can you help? In advance, I must acknowledge my conflict of interest as a Winton employee. I am sensitive to the fact that Wikipedia pages must maintain a NPV. That said, the changes that I am proposing are objective and I am happy to discuss them in advance.

The Expansion section is frozen in time as of 2013. We propose the following additions at the bottom of the section to bring it up-to-date:

Winton’s geographic expansion continued in 2014 with the opening of offices in New York^[1], Sydney^[2] and Tokyo^[3], and Shanghai^[3] the following year. In 2016, Winton launched a San Francisco data science centre to help it explore emerging data opportunities in the Bay Area. A new equity event-based program using research into Winton’s proprietary datasets had started trading a few months earlier^[4]. Later that year, Petershill Fund sold its stake in Winton to Affiliated Managers Group and Winton changed the name of its holding company from Winton Capital Management to Winton Group^[5][6].

I look forward to discussing these initial updates and next steps with the community. Many Thanks, Sean.Bernard (talk) 16:51, 13 September 2017 (UTC)

Sean.Bernard (talk) 16:51, 13 September 2017 (UTC)

To me, one of the parts ("help it explore emerging data opportunities") does not seem neutral at all. Also, perhaps tweaks should be made to the equity program sentence? It doesn't really sound suitable. Just my input on the matter. Regards, VB00 (talk) 19:29, 29 September 2017 (UTC)

Many thanks for the feedback, @VB00:. How about we amend the sentence to:

In 2016, Winton launched a San Francisco data science centre to investigate new data sources and technology in the Bay Area.^[1].

If the equity program sentence is problematic, we can strike it.

If you are happy with the proposed edits, might you be able to update the page? Sean.Bernard (talk) 10:44, 4 October 2017 (UTC)

Declined Before we add new information to this section, I wonder if we might address some of the material already present in the Expansion section, material which seems promotional in tone. The text I'm referring to wasn't proposed and agreed upon through the edit request system. According to the diffs → , , this was text added before that system regularly began on the page in 2013.

The 'Expansion' section implies milestones, whereby a company grows throughout the year. This growth would include new offices, new products, etc. What appears to be promotional in tone at first glance would be text which does not conform with the concept of a milestone — for example, continuing evaluations of already running products (i.e., ", having achieved margins of 65%") and laudits for performance (i.e., "the Winton Futures Program held up relatively well with a loss of -5.38% in 2009").

In the extended content section below, I took the liberty of rewriting the "Expansion" section as bulleted points, similar to a timeline. This includes the new information that you'd like added. In this re-written section, passages which seem promotional in tone and may be irrelevant to the topic of expansion have been stricken out. Please feel free to peruse these suggestions and if any of them are acceptable to you, kindly re-submit an edit request — I assure you our response will be expedited. Regards,  Spintendo  ᔦᔭ  02:31, 2 December 2017 (UTC)

Hello @Spintendo:, Many thanks for the assistance in updating the Wikipedia page and helping with the clean-up of the expansion section. I am generally happy with these suggestions. I agree about removing the content with the promotional tone. I would suggest, however, that we make the following modifications:

• Remove 'mixed arbitrage' from the first bullet. This is incorrect and not supported by the reference.
• For the bullet referring to 2013, 'of the firm's founder' should not be struck; per the article, it was the firm's founder that paid the taxes, not Winton.
• In 2016, Winton opened 'an office' in San Francisco (not multiple) .

Kind regards Sean.Bernard (talk) 14:22, 12 December 2017 (UTC)

@Sean.Bernard: All discussed changes  Implemented.

Also, in bullet #4, where it says Winton "became founding member of the Hedge Fund Standards Board, which sets a voluntary code of standard of best practice endorsed by its members.." I think it would be best to list the other members of this board. For example, Wikipedia's Delta Air Lines article states that Delta was a founding member of the SkyTeam Alliance in 2000 and has codeshare agreements, then lists the other members of this agreement, as a professional courtesy. Let me know if that is acceptable and I'll make the change. Thank you for your help.  Spintendo  ᔦᔭ  19:31, 12 December 2017 (UTC)

This edit request by an editor with a conflict of interest has now been answered.

Hi @Spintendo:, Many thanks for your help with the above. Might it be possible to get your help with a few more changes?

• The Winton Futures fund has been renamed to The Winton Fund. Perhaps we note that in its first mention (i.e. under the 'Early Years' section) and then update the fund name in the last sentence under 'Investment Strategy'? Recommendation: "...the firm began trading in October 1997 with the Winton Futures Fund (renamed to The Winton Fund on 30 September 2017)."^[1].
• Perhaps this should also be included as a 'Company Milestone'? The fund was renamed to reflect the fact that it trades a diverse range of financial instruments, including futures, forwards, cash equities, cash bonds, and credit indices. ^[2]
• Further to the above the reference to “Winton's futures trading” should be changed to “Winton’s trading” in the 'Investment Strategy' section.
• Lastly, in the Investment Strategy section, add "Winton decided in 2018 to cut the weight of trend following in the Winton Fund from 50% to around 25% by the start of 2019. At the same time, the company launched trend following-only vehicles for clients that wanted to maintain a higher exposure to the strategy." ^[3][4]

Sean.Bernard (talk) 09:20, 16 October 2018 (UTC)

@Sean.Bernard: Could you make sure to fill out a WP:COIDISCLOSE template at the top of this talk page, taking care to mention any affiliations you have with other COI editor's companies and whether you are paid for these requests. Much appreciated!  Spintendo  01:15, 2 November 2018 (UTC)   COI Declared   Sean.Bernard (talk) 10:00, 12 December 2018 (UTC)