b=0;
    howto[2] = 5;
    ik = makeik(delta,invest);
    selpar = 0|0|1;
    tpar = encode(alpha,delta,mpk,selpar); w = 0;
    call
    passtof(invest,rassetx,xtrfact,inst,rf,ik,W,selpar,howto,alpha,delta,mpk,b);
    format /RD 12,5; gradwb(tpar);
    call passback ;
    call
    passtof(invest,rassetx,xtrfact,inst,rf,ik,W,selpar,howto,alpha,delta,mpk,b);
    gradp(&findjt,tpar);