Dr. Mihail Topalov was born in Sofia, Bulgaria. Since 1990, he lives in Hamburg. He studied banking administration and obtained his doctorate in the field of dividend policy from Prof. Dr. med. Hartmut Schmidt at the Institute for Money and Capital Transactions of the University of Hamburg.Since March 2004, he has been Managing Director of the TKL.Fonds Gesellschaft für Fondsconception und -analysis mbH in Hamburg, which he co-founded. TKL.Fonds GmbH specialises in rating and analysing closed-end funds and alternative investments. With the SFI TKL.Ship Fund Index and its sub-indices, the TKL.Fonds publishes the first index family that compares ship investment via closed and open-ended ship funds with traditional assets such as equities and bonds through a consistent index construction and calculation methodology.