Micropal Group Limited, known as Micropal, was a global financial services company specialising in the collection and analysis of
mutual fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV i ...
performance data.
History
The firm was founded and financed in 1985
by Christopher Poll
who with John Richardson established Opal as a mainframe fund data service that soon became Micropal as it migrated to the PC. In 1985 , the company consisted of 7 people with a combined vision to bring improved transparency and credibility to fund performance industry
From its London base within 3 years it opened its Hong Kong office. In the USA it expanded through acquisition of Interactive Data Corporation of Des Moines, Iowa and AIM technical analysis system based in Portland Oregon. In parallel bases were established in Europe and by mid-1990s it had established 15 offices around the world, including an agency started in 1991 in Switzerland by
Justin Wheatley,
Along with creating credible data bases of global fund information, Micropal mainly through Chris Poll, became a major influencer in extending AIMR rules, improving fund regulation globally and in helping to establish GIPS (Global Investment Performance Standards).
Acquisition by The McGraw-Hill Companies
In November 1997,
The McGraw-Hill Companies, a global publisher purchased Micropal, in order to add the firm to its
Standard & Poor's
S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is con ...
market information brand. Micropal became the '"S&P Micropal" division of Standard & Poor's. Christopher Poll, who had been serving as Chairman, retired from the company and focused on advising the Chinese authorities on the development of their fund industry. Mark Adorian was appointed to head the new division.
On March 22, 2007, Standard & Poor's mutual fund data business, including Micropal, was acquired by
Morningstar, Inc.
Morningstar, Inc. is an American financial services firm headquartered in Chicago, Illinois and was founded by Joe Mansueto in 1984. It provides an array of investment research and investment management services.
With operations in 29 countries, ...
for
US$
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...
55 million.
Business description
During its existence, Micropal came to be considered a global leader in providing independent information on mutual funds
In Europe, their data, rankings & awards were widely quoted in media outlets as well as the marketing materials of fund companies. Christopher Poll and other members of the company would also be called upon to offer
sound bites on subjects related to the mutual fund industry.
Micropal was the first mutual fund tracking company to establish itself in Asia, and by the time competitors began to seriously enter the market in 1997 Micropal had 12 employees in four regional offices
References
External links
Official Site (Redirects)Virtual Currency News
{{Authority control
Financial services companies established in 1985
Financial services companies disestablished in 1997
Defunct financial data vendors
Research and analysis firms of the United States
Defunct research and analysis firms
1985 establishments in the United Kingdom