LONDON, July 31, 2017 - (ACN Newswire) - StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, has signed a three-year contract extension with FundBPO for StatPro Revolution, including a portfolio usage increase and an extension of consulting.
FundBPO Pty Ltd (FundBPO), one of Australia's leading independent fund administrators, provides fund administration services to more than 630 managed funds, administering more than AUD$114 billion of funds globally.
As FundBPO is experiencing growth in demand for its middle office services, it is looking for a solution to meet its growing performance measurement and risk analytics needs. With a long-standing and trusted relationship with StatPro, FundBPO selected the Revolution platform to enhance their systems as they continue to invest in technology, providing their clients with a better experience.
Martin Smith, FundBPO Chief Executive Officer, commented:
"Our business is built on strong operational processes and technology platforms and we partner with specialist vendors such as StatPro to develop the applications we need to support our operations. Revolution's performance and risk reporting helps us create an optimal operating and reporting environment for our clients and their investors."
Justin Wheatley, Group CEO, commented:
"We have worked with FundBPO for many years and seen their tremendous growth. FundBPO is now in a position to adopt StatPro Revolution, which is fast becoming the de facto solution for fund administrators. This enables reduced turnaround time to clients by using StatPro's highly scalable performance and risk service.
"As asset managers increasingly look to outsource their routine processes due to regulation and cost pressures, they will gravitate towards those fund administrators that have invested in the best technology, which provides a service that asset managers cannot match."
StatPro Group plc
Justin Wheatley, Chief Executive +44 (0) 20 8410 9876
Andrew Fabian, Finance Director
Panmure Gordon - Nomad and Broker
Corporate Finance - Freddy Crossley / Fabien Holler +44 (0) 20 7886 2500
Corporate Broking - Tom Salvesen
Adrian Duffield / Chris Birt +44 (0) 20 7457 2020
StatPro is a global provider of award winning portfolio analytics solutions for the investment community. The Group's cloud-based platform provides vital analysis of portfolio performance, attribution, risk and compliance. This multi-asset class analytics platform helps StatPro's clients increase assets under management, improve client service, meet tough regulations and reduce costs.
The Group's integrated and global data coverage includes over 3.2 million securities such as equities, bonds, mutual funds, FX rates, futures, options, OTCs, sector classifications and much else besides. StatPro also covers most families of benchmarks including MSCI, FTSE, Russell, NASDAQ and the open source Freedom Index.
StatPro has grown its Annualized Recurring Revenue from less than GBP 1 million in 1999 to around GBP 53 million today. The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 39 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.
July 31, 2017 14:30 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
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