Markov Processes International, Inc. (MPI)

What Markov Processes International, Inc. (MPI) does

Markov Processes International, Inc. (MPI) is a privately held, founder-owned software and research firm that builds returns-based quantitative analytics for the institutional investment industry. The company's core product, MPI Stylus Pro, is a Windows-based desktop application that reverse-engineers fund performance, risk, style, and attribution using only historical return streams, without requiring holdings disclosures. Underpinning the platform is a patent-protected methodology, Dynamic Style Analysis (DSA, U.S. Pat. No. 7617142), supplemented by Frontier Map (U.S. Pat. No. 7890406) and patent-pending Common and Active Style analyses that capture dynamic factor exposures, manager similarity, and stress-tested portfolio construction.

MPI monetizes the platform via annual, quote-based enterprise subscriptions that bundle Stylus Pro, optional add-on modules (Risk Solutions, Asset Allocation Software, Target-Date Radar, Common and Active Style Analysis, MPI Stylus Reporting), and optional third-party data feeds (Morningstar, Lipper, eVestment, HFR, Eurekahedge, PSN/Informa). The firm also sells investible hedge fund indices (the With Intelligence 50 / EHFI400 and the MPI TOP50 Tracker / EHFI401) and runs a free public resource, the MPI Transparency Lab. Distribution is direct enterprise sales through regional offices in the US (Summit, NJ), UK (London), and Japan (Tokyo), targeting asset owners, investment consultants, asset managers, hedge funds, and — increasingly — retirement plan advisors and wealth managers via the cloud-based Stylus Web product.

The customer base includes tier-1 institutions such as BlackRock, BNY Mellon, Fidelity, Bank of America Merrill Lynch, UBS, Franklin Templeton, Pictet, TIAA, Voya, Prudential, John Hancock, BBVA, Raymond James, Putnam Investments, Utah Retirement Systems, Marcuard Family Office, and Theta Capital Management. With 11–50 employees, no external capital raised, and a methodology validated by Nobel laureate William Sharpe and cited in The New York Times, Wall Street Journal, Financial Times, The Economist, and Bloomberg, MPI operates as a specialized, profitable niche vendor in institutional investment analytics rather than a venture-backed growth company.

Name

Markov Processes International, Inc. (MPI)

Legal name

Markov Processes International, Inc.

Website

https://markovprocesses.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

MPI is a privately held, founder-owned software firm that builds returns-based quantitative analytics (MPI Stylus Pro and Stylus Web) for institutional investors, asset managers, consultants, and retirement plan advisors, with patented Dynamic Style Analysis at the core.

Ownership category

akta.pro rank

Product category

Investment Analytics Software

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Investor Education, Research & Portfolio Analytics Services (Retail) (FSAAAAAO)

Keywords

• Investment analytics software
• Returns-based analysis
• Portfolio risk analytics
• Fund research platform
• Style analysis technology

Headquarters

HQ city

Summit

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. MPI Stylus Pro Software Subscription: MPI Stylus Pro is a Windows-based desktop application licensed on a subscription basis. The software is available in multiple editions including Stylus Pro, Stylus Web (new cloud application for retirement plan analysis), and various optional packages. Pricing is quote-based and not publicly disclosed. Subscriptions include database access, with optional 3rd-party databases (Morningstar, eVestment, HFR, Lipper) available for additional licensing fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

MPI develops and licenses MPI Stylus Pro, a Windows-based desktop application for quantitative investment research, performance evaluation, risk monitoring, style analysis, and attribution that uses proprietary returns-based methodologies — including patent-protected Dynamic Style Analysis (DSA) — to analyze funds using only return streams, without requiring holdings disclosures. The company supplements this with MPI Stylus Web for retirement plan advisors, MPI Transparency Lab as a free institutional transparency resource, hedge fund indices (Eurekahedge 50, MPI TOP50 Tracker), and modular analytics covering risk, asset allocation, target-date fund analysis, and reporting.

Product overview

Markov Processes International (MPI) offers MPI Stylus Pro as its core platform — a comprehensive Windows-based desktop application for quantitative investment research, analysis, and reporting. The platform is supplemented by web-based tools (MPI Stylus Web), free transparency resources (MPI Transparency Lab), specialized indices (MPI Hedge Fund Indices including Eurekahedge 50), and modular add-ons including Common and Active Style Analysis, Target-Date Radar, Asset Allocation Software, Investment Risk Analytics, and Enterprise Solutions. The product family serves institutional investors, asset managers, advisors, and fund buyers across asset classes including equities, fixed income, hedge funds, private equity, and real assets.

Differentiator

Problem solved

Functional benefit

Products and services

• MPI Stylus Pro The industry's most comprehensive quantitative investment research, analysis and reporting platform. Provides returns-based analysis, manager screening, portfolio construction, risk monitoring, and automated reporting capabilities for institutional investors, asset managers, and advisors.
• MPI Stylus Web Web-based retirement plan analysis, monitoring and reporting application specifically designed for financial advisors and retirement plan specialists.
• MPI Transparency Lab A free resource from MPI providing unique insight into the world's largest and most opaque investments, including university endowments and pension funds. Explains results and uncovers hidden risks using returns-based analysis.
• MPI Risk Solutions Advanced stress-testing features that deliver insight into fund performance across various regimes and hypothetical scenarios, supporting portfolio calibration and risk analytics.
• MPI Hedge Fund Indices Investible and non-investible benchmarks representing the collective performance of top hedge fund managers. Includes the With Intelligence 50 Index (EHFI400) and the MPI TOP50 Tracker Index (EHFI401), with customizable volatility targets of 6% and 8%.
• Target-Date Radar A powerful TDF (Target-Date Fund) analysis and comparison tool for plan advisors. Enables analysis and comparison of target-date funds in retirement plan lineups.
• Common and Active Style Analysis Patent-pending Common Style assesses diversification within portfolios by measuring commonality of factor exposures shared by managers or investments; Active Style measures how different a fund is from its benchmark or other funds, providing more accurate and timely insight than holdings-based Active Share.
• Asset Allocation Software Asset allocation software for allocators requiring powerful analytics to communicate and differentiate asset allocation philosophy. Includes multiple optimization models and patented Calibrated Frontiers functionality with Frontier Map visualization.
• MPI Enterprise Solutions Customized Stylus Pro configuration, implementation, and integration services including database development, custom research, report automation, and application integration for enterprise clients.
• MPI Database Subscriptions Optional database subscriptions providing access to fund data from Morningstar, Lipper, eVestment, HFR, Eurekahedge, Thomson/Reuters Lipper TASS, and PSN/Informa covering mutual funds, ETFs, hedge funds, separate accounts, and variable annuities.

Quantifiable outcome

• MPI's returns-based analysis can identify exposure drift, selection divergence, and performance deterioration that warrant due-diligence review — even for funds that report only annually
• +2 more outcomes

Named customers18 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability4 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• Eurekahedge (acquired by With Intelligence)coreTechnology or IntegrationMPI developed the MPI Eurekahedge 50 Index (now With Intelligence 50 Index, BLOOMBERG: EHFI400) and the investible MPI TOP50 Tracker Index (BLOOMBERG: EHFI401) in partnership with Eurekahedge. The indices track the 50 largest hedge funds reporting to the Eurekahedge database. The partnership provides MPI with access to hedge fund return data for index construction and analytics.
• MorningstarcoreTechnology or IntegrationMorningstar provides optional database subscriptions for MPI Stylus Pro users, including US Mutual Funds, Global Mutual Funds, US and Global ETFs, US Closed End Funds, US Separate Accounts, US Variable Annuities, UK Individual Pension Funds, and UK Insurance Funds. Morningstar data is used in conjunction with MPI's proprietary analytics.
• eVestment AlliancecoreTechnology or IntegrationeVestment provides optional database subscriptions for US and Canada Separate Accounts available to mutual subscribers of MPI and eVestment. eVestment data enhances MPI Stylus Pro's manager research and screening capabilities.
• HFR (Hedge Fund Research)coreTechnology or IntegrationHFR provides optional hedge fund database subscription for MPI Stylus Pro. The HFR database is used in conjunction with MPI's proprietary returns-based analysis for hedge fund benchmarking and performance attribution.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Style Analytics (StyleResearch): StyleResearch / Style Analytics is the most direct competitor to MPI, specializing in returns-based style analysis, factor decomposition, and portfolio attribution for institutional investors using similar methodology.
• Zephyr (Confluence): Zephyr by Confluence is an investment performance analytics and reporting platform for asset managers and advisors, with overlapping capabilities in performance attribution, style analysis, and client reporting.
• Investment Metrics: Investment Metrics is a performance analytics, risk, and reporting platform serving institutional asset owners, consultants, and asset managers — directly comparable to MPI's asset owner and consultant solutions.
• Orbis Investment Analytics (HFR): Hedge Fund Research provides hedge fund performance databases and benchmarking indices overlapping with MPI's hedge fund analytics and Eurekahedge 50 index products.
• Wilshire Analytics: Wilshire provides institutional investment analytics including performance measurement, risk analytics, and portfolio construction tools — serving similar institutional clients with comparable analytical capabilities.

Broad incumbents

• FactSet: FactSet is a broad institutional portfolio analytics and investment data platform serving asset managers, hedge funds, and investment banks with overlapping capabilities in portfolio analytics, performance attribution, and risk reporting.
• Morningstar Direct: Morningstar Direct is a leading institutional investment research and analytics platform used for fund research, portfolio analysis, and manager selection — directly overlapping with MPI's core use cases while also being a data partner.
• Bloomberg Terminal: Bloomberg Terminal is the dominant institutional financial data, analytics, and portfolio analytics platform used by the same institutional client segments MPI targets, including the listed hedge fund indices that carry Bloomberg tickers (EHFI400/EHFI401).
• eVestment (Nasdaq): eVestment provides institutional investment analytics, manager research, and due diligence databases for institutional asset owners and consultants — both a data partner and a competitor for manager screening and research workflows.
• MSCI Barra Portfolio Manager: MSCI's Barra portfolio risk and analytics platform provides multi-factor risk models, performance attribution, and portfolio construction capabilities that overlap with MPI's factor exposure and risk monitoring offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks3 records

Key highlights7 records

Customer concentration

• Xx.com/MarkovMPI
• LinkedInlinkedin.com/company/markov-processes-international-mpi-

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Markov Processes International, Inc. (MPI)