Press

Monitoring daily hedge fund performance when only monthly data is available By Michael Markov, Daniel Li and Prof. Russ Wermers April 16, 2013
	Hedge Funds Review publishes a summarized version of MPI and Prof. Russ Wermer’s award-winning research paper on hedge fund monitoring and risk analysis.
Hedge-Fund Folly By Reshma Kapadia March 30, 2013
	MPI research collaborator Petter Kolm is quoted discussing the evolution of hedge fund replication and the potential role of the smart beta they can deliver in investor portfolios.
MPI Unveils TDF Analysis Tool By Jill Cornfield March 5, 2013
	Planadviser covers MPI’s launch of TDF Analytics at ASPPA 401k Summit in Las Vegas for target date fund analysis and reporting, noting the industry focus on peer group comparison for performance benchmarking and reporting.
Funds Roundup By Brendan Conway February 1, 2013
	MPI’s research on Rajiv Jain is deemed weekend reading by Barron’s.
Which Funds Are Riding Facebook Higher? Watch Turner, Fidelity By Brendan Conway January 22, 2013
	Barron’s utilizes MPI’s returns-based monitor of estimated mutual fund ownership of Facebook to gauge which managers may’ve benefited from an uptick in share price.
10 Tuesday AM Reads By Barry Ritholtz January 22, 2013
	The Big Picture and Tadas Viskanta’s Abnormal Returns point readers towards MPI’s look at popular Total Return Bond Funds from prominent managers Jeffrey Gundlach and Tad Rivelle.
IMCA awards prize in first academic paper competition By Barry Burr January 10, 2013
	Pensions & Investments’ Barry Burr covers Daniel Li, Michael Markov and Prof. Russ Wermers’ collaborative paper “Monitoring Daily Hedge Fund Performance When Only Monthly Data is Available” being awarded IMCA’s inaugural Academic Paper Competition Winner. See the press release too.
As ‘Fiscal Cliff’ Nears, Matthew 25 Fund Seen Getting Defensive, But Not Yacktman By Brendan Conway December 26, 2012
	Barron’s “Focus on Funds” highlights MPI’s systematic surveillance of mutual funds in the lead up to the Fiscal Cliff.
Legg Mason Extends MPI Tools to DCIO Platform By Jill Cornfield December 10, 2012
	Planadviser covers Legg Mason’s novel customization of MPI Stylus Web for its MPI Plan Analyzer report, an initiative to support plan advisors servicing and looking to win retirement business.
Legg Mason and MPI By Davis Janowski December 10, 2012
	InvestmentNews’ technology reporter Davis Janowski writes about the novel way Legg Mason has customized MPI Stylus Web to help plan advisors better serve plan sponsors, including usage of Common Style and comparative reporting capabilities.
New Tech Improves Consultants' Manager Eval Capabilities By Billy Nauman November 6, 2012
	FundFire institutional consultant reporter Billy Nauman reports on Wurts & Associates’ implementation of mpi Stylus Pro to enhance qualitative capabilities, quoting Brian Rowe, Director of Manager Research at Wurts.
Hedge fund replication strategies come of age: Rise of the clones By Kris Devasabai November 1, 2012
	U.S. Editor of Hedge Funds Review Kris Devasabai highlights MPI research findings from a definitive pending study on hedge fund replication being undertaken in conjunction with NYU Professor Petter Kolm, Director of the Mathematics in Finance M.S. Program at the Courant Institute.
These Funds Were QE3’s Biggest Winners (And One Loser) By Brendan Conway September 24, 2012
	Barron’s Brendan Conway covers MPI’s research on mutual funds that gained the most during the Fed’s QE3 announcement.
When An Underperforming Fund Is A Good Thing By Brendan Conway August 24, 2012
	Barron’s “Focus on Funds” covers MPI’s research post, “Alpha and Excess Return: Not Synonymous”.
Chart of the Week: Banking’s Tobacco Moment – LIBORious Speculation? By MPI August 9, 2012
	ZeroHedge posted MPI’s Chart of the Week.
Funds Roundup By Brendan Conway July 27, 2012
	Barron’s “Focus on Funds” recommends MPI’s Chart of the Week.
Large European Family Office Signs Up To Markov's Investment Analysis System By Tom Burroughes July 18, 2012
	This story in Family Wealth Report chronicles Marcuard Family Office’s adoption of MPI’s patented DSA and the benefits the analytics bring to their practice.
Software helps detect good and bad managers By Chris Flood July 9, 2012
	This FTfm profile of MPI discusses the power of MPI’s software for managing portfolios of hedge funds, including selecting superior managers, managing risk and detecting potential fraud.
Hedge Fund Return Expectations in a Paranormal World By Tim Nuding Summer 2012
	MPI's case study on Bridgewater Pure Alpha II is quoted in "Hedge Fund Return Expectations in a Paranormal World" in the Summer 2012 edition of Professional Investor: The Journal of the CFA Society of the UK.
'Risk parity' strategy has its critics as well as fans By Sophia Grene June 10, 2012
	MPI CEO Michael Markov discusses the rising popularity of risk parity and the predictable short term nature of risk in this FTfm story by Sophia Grene.
Paulson undone by sector picking By Giles Turner November 1, 2011
	Daniel Li and Alexandre Dussaucy’s analysis on Paulson Advantage Funds is featured in Financial News. This analysis takes a close look into concentrations and leverage exposures of some of the largest hedge funds. Click here to access the detailed analysis.
New Funds October 10, 2011
	Financial Times’ Fund Management section reported the launch of a new, actively-managed ETF by AdvisorShares in partnership with Commerce Asset Management using MPI Asset Replication™ Services.
From zeroes to heroes at Carmignac Patrimoine By William Hutchings September 28, 2011
	MPI’s proprietary quartile chart is selected as chart of the week in Financial News. The chart shows the dramatic comeback of Carmignac Patrimoine in terms of both absolute and relative performance during the summer of 2011.
AdvisorShares, Commerce AM Ready Hedge ETF September 20, 2011
	FINAlternatives reports that exchange-traded funds house AdvisorShares, in partnership with Commerce Asset Management, is preparing a second hedge fund-like ETF to track long/short equity hedge funds with the help of MPI Asset Replication™ Services.
Criminal Minds and Increased Surveillance By Mark Sands June 23, 2011
	Michael Markov’s commentary on market surveillance is featured in Operational Risk & Regulation. This comprehensive article features views from many key players in the industry. Click here to access the PDF article.
Quant Surveyors By Martin Steward June 1, 2011
	Investment & Pensions Europe features MPI’s commentary on the importance of “independent techniques, tools and data” in the risk management process. Click here to download the PDF article.
Asset Allocation Funds Give Impressive Performance By Giles Turner January 24, 2011
	In an article on the return of asset allocation funds, Financial News features MPI’s analysis of Carmignac Patrimoine and the drivers behind its exemplary performance.
Un spécialiste de l'analyse quantitative décortique Carmignac Patrimoine By NewsManagers groupe AGEFI December 17, 2010
	MPI’s latest case study on Carmignac Patrimoine, identifying the performance drivers behind Europe’s largest mutual fund, is featured in NewsManagers-a leading online newsletter for investment professionals in France. See English translation here. View MPI’s case study for our findings.
How are European Equity Managers Generating Their Performance? By Mario Aguilar October 28, 2010
	As part of a monthly asset class analysis series in Citywire, MPI provides an in-depth look at takeaways and style trends on European Equity funds. See how the best performing funds benefit from style allocation (positive timing) while the opposite holds true for the worst performers.
Markov: Waddell & Reed Not Main Culprit In Flash Crash By Murray Coleman October 11, 2010
	Barron’s features MPI’s quantitative analysis on Waddell & Reed's Asset Strategy Fund and commentary on its relation to the “Flash Crash”. View the MPI research blog for our findings.
The Tremors From a Coding Error By Jeff Sommer June 18, 2010
	The New York Times’ Jeff Sommer features analysis and commentary from Michael Markov in a story on AXA Rosenberg and the events following admission of its coding error. View MPI’s research blog for a revealing look at a mutual fund sub-advised by AXA Rosenberg.
Stylus Web Brings Plan-Level Reporting to Financial Advisers By Ellie Behling May 3, 2010
	PLANADVISER features MPI’s Jeff Schwartz discussing the new Stylus Web and the demand for “an affordable tool to provide institutional reports and content.”
Stylus Web, plan-level reporting tool, is available for financial advisers By Davis Janowski May 3, 2010
	InvestmentNews’ Davis Janowski profiles MPI’s new Stylus Web product, answering the advisor need for "all-in-one-tools" in the 401(k)/DC and DB markets. Additional software features and benefits can be accessed here.
If It Walks Like a Duck: Classifying Berkshire Hathaway By Michael Markov and Kushal Kshirsagar March 23, 2010
	Institutional Investor features a research piece from Michael Markov and Kushal Kshirsagar on the implications of BRK.B’s S&P 500 sector classification.
Getting the Maximum for the Investors By Jonathan Miller, Citywire March 5, 2010
	MPI’s returns-based style analysis of the JPM Europe Strategic Value Fund (which identifies the Mid Cap Core strategy that the manager adopted in 2008) is featured in the Fonds Professionell Austrian Magazine.
Hedge or Mutual Fund? By Tom Sullivan January 4, 2010
	In its first 2010 issue, Barron's features insight from MPI's Michael Markov on the coming year's industry trends.
Galleon Fund's Big July 2006 Gain Coincided With ATI Buyout By Joseph Checkler November 17, 2009
	Dow Jones' Joseph Checkler continues investigation of Galleon, utilizing MPI’s returns-based style analysis (RBSA) of the Galleon Fund, which shows remarkable outsize performance in 2006.
Keeping an Eye on Stable-Value and Long-Short Funds By Evan Cooper September 23, 2009
	Michael Markov shares his insights on risk with InvestmentNews.
Using Daily Returns To Identify Bond Fund Risks By Michael Markov September 2009
	Institutional Investor features Michael Markov's opinion piece, "Using Daily Returns To Identify Bond Fund Risks".
Researcher Says Opco Core Bond Fund Trouble Obvious By Jeff Nash July 09, 2009
	Michael Markov interviewed by Pensions & Investments: "There were plenty of red flags at Oppenheimer Core Bond that these states and other investors could have picked up on." View MPI's quantitative analysis of the Oppenheimer Core Bond Fund here.
Marvin Schwartz Makes Bold Calls After Poor Year By Jonathan Miller May 18, 2009
	MPI’s returns-based style analysis (RBSA) of the UBAM Neuberger Berman US Equity Value fund is featured in Citywire.
As FoHFs Seek Ways to Win the Liquidity and Risk Management Battle, Markov Releases Paper By Kirsten Bischoff April 23, 2009
	Opalesque features MPI’s “Monitoring Daily Hedge Fund Performance When Only Monthly Data is Available” research paper which introduces an approach that enables investors to forecast daily returns in advance of monthly reporting.
The similarities between Pearl Harbor and Bernie Madoff By Michael Markov April 6, 2009
	Michael Markov's opinion piece, "The similarities between Pearl Harbor and Bernie Madoff" is featured in Pensions & Investments.
Asia Star Stands Firm on China Bias By Jonathan Miller March 30, 2009
	MPI’s returns-based style analysis (RBSA) is featured in Citywire.
Investors Scramble for Compensation and Clarity in the Fraud of the Century By Susan Barreto February 2009
	InvestHedge explores MPI's “Madoff: A Tale of Two Funds” quantitative analysis and the impact of Madoff's fraudulent returns on hedge fund indices.
Puzzle Me This By James Armstrong January 2009
	This article in Markets Media provides an insider's view of the history of MPI and returns-based style analysis.
Madoff Claims "Too Good to be True" By David Walker January 12, 2009
	Michael Markov interviewed by Financial News: "as long ago as 2006 MPI concluded that Madoff's were 'most likely not real.'"
Con of the Century December 18, 2008
	MPI's analysis of the Madoff fraud is featured in the Economist
In Fraud Case, Middlemen in Spotlight By Eric Konigsberg December 16, 2008
	Michael Markov discusses the Madoff scandal in the New York Times
Opalesque Exclusive By Kirsten Bischoff October 21, 2008
	Opalesque features MPI's reverse engineering of hedge fund portfolios and its ability to provide new insight to firms considering the risk management and replication possibilities of funds. View full
Cleaning Closets By Christopher Wright September - October, 2008
	MPI's Returns-Based Style Analysis (RBSA) is featured in CFA Magazine. View full
Lifting the lid on hedge fund risks By Sophia Grene September 24, 2007
	The article about MPI and Dynamic Style Analysis (DSA) is published in The Financial Times, a UK's international business newspaper. Read it
Big DSA is watching you! By Véronique BÜHLMANN July - August, 2007
	The article about MPI and Dynamic Style Analysis (DSA) is published in July's issue of "Banque & Finance", the leading banking publication in Geneva, Switzerland. Read it
A Strategy Aiming to Pump Returns Gains Clout but May Be 'No Free Lunch' October 13, 2006
	An article in the Wall Street Journal features analysis and commentary by MPI CEO Michael Markov on the mutual fund 130/30 investment strategy. Read it.
When Long Means Loss By Chidem Kurdas, New York Bureau Chief July 18, 2006
	A look at potential loss issues with regard to long-only investing - includes analysis by MPI. Read it.
Outlook 2006: A Challenging Comparison By Chidem Kurdas, New York Bureau Chief January 25, 2006
	HedgeWorld New York Bureau Chief Chidem Kurdas tests MPI's ability to replicate hedge fund returns and detect "alternative beta". Read it.
Hedge funds headed for a fall? By Amanda Cantrell November 15, 2005
	This article features analysis and charts created with mpi Stylus, as well as some research results and commentary by MPI CEO Michael Markov.
Bayou Collapse Sends a Warning Signal By Sara Hansard September 19, 2005
	In this Investment News round-up of the recent Bayou hedge fund investigation, Michael Markov from MPI comments on warning signs that were apparent in the case.
Hedge funds -- In the Garden of Good and Evil September 10, 2005
	This article in The Economist features analysis and commentary by MPI CEO Michael Markov on the investigation of the Bayou Management hedge fund and provides a review of MPI's background and achievements to date.
Can Style Analysis Act as Early Warning System for Hedge Funds? By Chidem Kurdas, New York Bureau Chief August 01, 2005
	HedgeWorld New York Bureau Chief Chidem Kurdas reviews the application of Dynamic Style Analysis, an advanced version of returns-based style analysis developed by MPI, for greater transparency and better due diligence of hedge funds.
Plan Sponsor Magazine Honor Roll
	In March 1999 Plan Sponsor magazine conducted a survey and published results in the article "Risk and Performance Measurement Survey: Risk Busters". They evaluated financial houses and software vendors offering products to plan sponsors and investment managers. We are proud that we obtained Honor Roll rankings in five (!) categories: Portfolio Monitoring (Scenario Testing, Reporting - Comprehendible) and Decision Support (Comprehensive Analytics, Scenario Testing, Technology - Ease of Installation). Part 1, Part 2, Part3
Beating The Odds: Marx Against Them
	"Coming to America is tough. Coming to America from the U.S.S.R. is tougher. Then try starting a business..." This article about MPI and its founders appeared in the November 1999 issue of Entrepreneur magazine. Page 1: Entrepreneurs are evil Page 2: Battling Prejudice Page 3: Coming To America Page 4: Communist Capitalists

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