LONDON (Alliance News) - StatPro Group PLC Thursday said it has signed a five-year contract renewal worth more than GBP1.6 million with a "global top 10" asset manager.
The group, which provides cloud-based portfolio analysis for asset managers, said the contract renewal is for its StatPro Composites product, which is specifically designed to help achieve compliance with investment and performance standards such as The Global Investment Performance Standards (GIPS) for the purpose of composite reporting, while offering the ability to use it for account level reporting as well.
The continued partnership also enables the client to migrate to StatPro's cloud-based platforms, StatPro Revolution and StatPro R+.
"This five year contract renewal from such an important global client, shows the confidence in our ability to continue to deliver a global GIPS solution," Chief Executive Justin Wheatley said in a statement.
"This top 10 asset manager has understood StatPro's commitment to new technology and demonstrated their belief in our roadmap by signing for a further five years, which will include the migration to StatPro Revolution and R+," Wheatley added.
StatPro shares were Thursday quoted down 1.9% at 77.50 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
