Worlds Largest Property fund uses spreadsheets to value portfolio. Why?
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We believe that spreadsheets are inaccurate, error prone and too difficult to correct when faulty. Its now well documented that most large consulting practices, Bearing Point, PWC, Deloitte etc state clearly that any spreadsheet with more than 100 rows of data is likely to contain errors. Just Google it for yourself.
An example of the crucial role played by spreadsheets is the valuation of most Pension and investment portfolios around the world. The US albeit in a slightly different form, Iceland, Ireland and Italy all have state agencies who are responsible for relieving Banks of most of their toxic property portfolios. indeed many of these agencies will become the largest property companies in the world.
These agencies are using spreadsheets to value these portfolio's or funds. This can't be right in this day and age. In Iceland and Ireland this will amount to the largest investment ever made by the state and the use of a proper financial modelling intelligence to get at the facts.
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