Following an introduction to the nature of fisheries catches and their information content, a new development of CMSY, a data-limited stock assessment method for fishes and invertebrates, is presented. This new version, CMSY++, overcomes several of the deficiencies of CMSY, which itself improved upon the “Catch-MSY” method published by S. Martell and R. Froese in 2013. The catch-only application of CMSY++ uses a Bayesian implementation of a modified Schaefer model, which also allows the fitting of abundance indices should such information be available. In the absence of historical catch time series and abundance indices, CMSY++ depends strongly on the provision of appropriate and informative priors for plausible ranges of initial and final stock depletion. An Artificial Neural Network (ANN) now assists in selecting objective priors for relative stock size based on patterns in 400 catch time series used for training. Regarding the cross-validation of the ANN predictions, of the 400 real stocks used in the training of ANN, 94% of final relative biomass (B/k) Bayesian (BSM) estimates were within the approximate 95% confidence limits of the respective CMSY++ estimate. Also, the equilibrium catch-biomass relations of the modified Schaefer model are compared with those of alternative surplus-production and age-structured models, suggesting that the latter two can be strongly biased towards underestimating the biomass required to sustain catches at low abundance. Numerous independent applications demonstrate how CMSY++ can incorporate, in addition to the required catch time series, both abundance data and a wide variety of ancillary information. We stress, however, the caveats and pitfalls of naively using the built-in prior options, which should instead be evaluated case-by-case and ideally be replaced by independent prior knowledge.
