StatPro Regulatory News (SOG)

27 October 2014

RNS Reach

STATPRO GROUP PLC

("StatPro" or the "Group")

Five year contract with Prudential Investment Managers

StatPro Group plc (AIM: SOG), the AIM listed provider of portfolio analysis and asset pricing services for the global asset management industry, is pleased to announce that following the signing of a five year contract earlier this year with Prudential Investment Managers, one of South Africa's top ten largest investment managers, StatPro products are now being rolled out across a selection of funds.

Prudential Investment Managers has selected StatPro to enable, amongst its other traditional performance services, secure cloud-based access to sophisticated portfolio analysis. This contract underlines StatPro's leading position in the high growth South African asset management market. There is a growing acceptance of the cloud model for the delivery of portfolio analysis by some of the world's largest investment managers.

Justin Wheatley, StatPro Group CEO, commented: "StatPro Revolution's cloud-based interface allows users to interrogate and understand data that traditionally lay buried in rows of numbers, and is an extremely beneficial product to any asset manager seeking greater transparency on their performance numbers. StatPro's portfolio-based model will allow unlimited users to access and interrogate portfolio performance in a highly secure cloud environment."

Meagen Burnett, Chief Operating Officer at Prudential Investment Managers, adds: "We were exhaustive in our search for a complete performance solution, and are pleased to have contracted with StatPro. We believe this to be a best of breed solution in the South African market."

The transaction will see StatPro providing performance services to Prudential Investment Management for the next five years, transitioning the investment manager from StatPro's traditional product set and onto its cloud-based products namely StatPro Revolution and, when agreed to be ready, StatPro R+.

Ends

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About StatPro

StatPro is a global provider of portfolio analytics for the investment community. Our cloud-based services provide vital analysis of portfolio performance, attribution, risk and compliance. Hundreds of investment professionals use our services directly or through a fund administrator/partner to perform sophisticated analysis, reporting and distribution every day.

With over 20 years of experience and expertise, we believe analytics should be sophisticated yet simple and useful as well as secure. StatPro data coverage includes over 3.2 million securities such as global equities, global bonds, global mutual funds, most families of benchmarks, FX rates, sector classifications and much else besides.

StatPro has grown its recurring revenue from less than £1 million in 1999 to around £28 million at 30 June 2014. StatPro floated on the main market of the London Stock Exchange in May 2000 and transferred its listing to AIM in June 2003. The Group has operations in Europe, North America, South Africa, Asia and Australia and approximately 500 clients in 36 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. 

About Prudential Investment Managers

Prudential Investment Managers is one of South Africa's top 10 largest asset managers, with nearly R180billion in AUM. Established in 1994, Prudential has built up a track record for consistently strong investment performance. Clients also benefit from their global heritage as part of the Prudential plc group, founded over 160 years ago, with more than £443 billion under management worldwide.