iCapital’s proprietary research framework for alternative investment analysis and the research behind Architect

1. Arnav Sheth, Zheng Wang, Weidong Jin, Clinton Tepper, and Aniket Inamdar, “GMAM (Generalized Multi-Asset Model): Standardizing Alternative Investments Returns Estimation,” The Journal of Alternative Investments 29, no. 1 (Summer 2026): 110-140.

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iCapital Architect (“Architect”) is intended to provide certain analytics and comparative charts as a tool for financial professionals to evaluate securities and sample portfolios.

Architect is for institutional use only and is provided for informational purposes only and are not a recommendation or an offer or solicitation to buy or sell any security, financial product or instrument, or otherwise to participate in any particular trading strategy. Certain elements of Architect depend on user input and may vary by user. iCapital does not accept any liability for losses arising from the use of Architect. You should review the disclosures and methodologies available on iCapital Architect including the terms of use and privacy policy.

For illustrative purposes only and functionality subject to change. Any analysis or information provided by Architect is intended for illustrative purposes only and should not be relied upon as a forecast, prediction, projection, guarantee, research, recommendation or advice of any kind, including investment, tax, accounting, or legal advice. Nothing made available by Architect is intended to meet the investment objectives or needs of specific clients. Any decision based upon Architect output and information are the sole responsibility of the user. Users have the sole responsibility for considering whether an investment is suitable for, or in the best interests of, a client.

The information and analysis made available by Architect are hypothetical and summary in nature. In reviewing performance labeled as “proxy performance,” please keep in mind that proxy performance consists of the performance of proxy instruments that are intended to be representative of the actual investment being analyzed. Proxy performance is not actual, historical performance of the investment for which it is being used as a proxy. The performance of a proxy may be substantially different from that of the investment for which it is being used as a proxy. Proxy performance is provided net of certain fees and expenses, but does not reflect all of the fees and expenses that would be incurred by an actual investment. More information about how performance is calculated, including proxy performance is available on iCapital Architect.

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