The global financial markets are the world’s most highly evolved computational process, receiving a continual deluge of inputs, synthesising them into a huge matrix of fluctuating securities prices, and retransmitting the signals back, nearly instantaneously, to every corner of the planet.
Winton uses technology and mathematics to investigate this process and to uncover abstract patterns and order that can be used to forecast the probability distribution of outcomes within it. We then develop and implement algorithms designed to profit from this order systematically, to help invest and grow the money people are saving for their future.
Founded in 1997 by CEO David Harding, Winton now manages approximately $20 billion of assets for many of the world’s largest pension funds, sovereign wealth funds, banks and fund platforms.
David’s philosophy was captured in a speech to the Royal Society a few years earlier and a subsequent paper titled Making Money from Mathematical Models. This document has served as a manifesto, defining Winton’s guiding principles ever since.
By 1997, David had already been at the forefront of systematic investing for a decade. Following a first-class degree in theoretical physics from Cambridge University, David soon saw that statistical inference and modern computing techniques might potentially be utilised for trading in financial markets. David put these ideas into practice in 1987, as one of the three eponymous co-founders of pioneering systematic manager Adam, Harding and Lueck (AHL). Man Group subsequently acquired a majority stake in AHL before fully acquiring it in 1994.
Winton’s considerable investment in scientific research, data and technology has produced innovations ranging from new investment strategies and risk management tools, to the creation of a systematic data collection capability and enhanced research methodology.