17 Mar 2011 07:00
For Release at 07.00 Thursday, 17 March 2011
STATPRO GROUP PLC
("StatPro", "the Company" or "the Group")
Contract win - StatPro Revolution signs first custodian deal
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 a successful trial it has signed a multi-year contract with RBC Dexia Investor Services ("RBCD") for the supply of StatPro Revolution to RBCD's clients. RBCD plans to roll out Revolution to its wide client base of Fund Managers, Pension Funds and Insurance Companies. RBCD serves a global market of nearly 10,000 mutual funds and pension funds with over $3 trillion of assets under custody. StatPro Revolution is sold on a per portfolio basis.
StatPro Revolution is a multi-tenant, cloud-based service which offers sophisticated portfolio analytics and reporting functionality at a competitive price. The new StatPro Revolution service went live on 28 February 2011 after being on beta since July 2010. Over 250 companies joined the beta in that period to trial the service. The first few trials have converted to paying users.
Commenting on the contract Justin Wheatley, CEO said: "We are delighted to have signed our first major client for our newly launched service, providing RBCD's global customer base with integrated access to StatPro Revolution. This is a significant deal for us, as well as representing a strong endorsement of the value of StatPro Revolution. StatPro Revolution is an entirely new category of service for portfolio analytics, providing global access to sophisticated web-based analytics and reporting, as well as ability to share portfolios if desired between private groups in a similar manner to new media networks. This allows greatly improved communication and transparency, both of which are growing priorities for the asset management industry."
StatPro will be announcing Final Results for the year ended 31 December 2010, on 23 March 2011.
For further information, please contact:
StatPro Group plc | www.statpro.com |
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Justin Wheatley, Chief Executive |
| 020 8410 9876 | |
Andrew Fabian, Finance Director |
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Cenkos Securities |
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Ken Fleming |
| 0131 220 6939 |
Jon Fitzpatrick |
| 0207 397 8900 |
Julian Morse |
| 020 7397 1931 |
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Threadneedle Communications |
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Caroline Evans-Jones/ Tom Moriarty/ Hilary Millar |
| 020 7653 9850 |
About StatPro
StatPro is a leading provider of portfolio analytics and data solutions for the global asset management industry. The Company sells a SaaS-based Analytics and Data platform on a rental basis to investment management companies allowing them to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides market data and valuation feeds including a Complex Asset Pricing service.
StatPro has grown its recurring revenue from less than £1 million in 1999 to £28 million at end June 2010 and currently enjoys a renewal rate of approximately 90%. StatPro floated on the London Stock Exchange in May 2000 and transferred its listing in June 2003 to AIM. The Company has operations in Europe, North America, South Africa and Australia, with approximately 79% of recurring revenues being generated outside the UK.