Portfolio Policy

What Portfolio Policy is for

Portfolio Policy explains the coordinated rules that governed the selected Portfolio Run Output. It shows how saved composition, allocation, priority, capital, admission, and risk policy became one account-level execution.

The page uses the exact historical Portfolio version and retained candidate. It never substitutes the current Composer draft.

Verify the policy identity

Confirm:

• Portfolio id and immutable version;
• exact member Strategy Configurations and Strategy versions;
• selected Portfolio candidate and linked Run Output;
• allocation and priority policy;
• shared-capital, leverage, and margin assumptions;
• admission, conflict, exposure, and risk limits;
• controls and regime-risk scaling; and
• requested and effective execution model.

An absent override means the saved baseline applied. It does not mean zero.

Read composition and participation

The policy view distinguishes the saved Portfolio composition from candidate changes. Review which members were enabled, their bindings, weights or sizing rules, and any participation constraints.

Use Strategy Attribution to see what each member contributed after coordination. A member can be enabled but contribute little because it generated few intents, received low allocation, or was constrained by admission and risk policy.

Read priority and allocation

Priority defines how competing member intents are ordered when they seek the same capital, instrument, or risk budget. Allocation defines how the Portfolio assigns capital or risk among eligible members.

Review priority, allocation mode, member weights or multipliers, rebalance behavior, and the shared-capital basis together. The final trades can differ from each Strategy's unconstrained intent because the Portfolio owns the account boundary.

Review counterfactuals

When retained, counterfactuals compare the selected policy with a precisely defined alternative, such as another priority or allocation rule. Each row identifies the changed mechanic and its effect on profit, drawdown, admission, or other applicable outcomes.

Counterfactuals are retained Portfolio evidence. They are not generic claims that another policy would behave the same way on future data.

Review stress scenarios

Portfolio stress scenarios apply the recorded scenario mechanics to the retained candidate. Confirm the method, changed inputs, affected members, and reported deltas before interpreting them.

Some scenarios can be Not applicable at a selected fidelity. The page must disclose that limitation rather than replacing the result with a lower-fidelity estimate.

Connect policy to execution

• Strategy Attribution explains member contribution.
• Admission & Conflicts explains admitted, clipped, suppressed, or rejected intents.
• Risk & Exposure explains shared-account limits and utilization.
• Positions & Trades shows the account positions, orders, fills, and trades produced after coordination.

Read these together when the observed execution differs from a member Strategy's standalone behavior.

When policy detail is blocked

Policy detail remains Blocked when the linked Portfolio Result is missing, the candidate does not retain the selected run, historical member versions cannot be resolved, or required policy evidence is malformed. Do not reconstruct it from the current Portfolio or from display labels alone.