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4 Oct 2010 07:00
Monday, 4th October 2010
STATPRO GROUP PLC
("StatPro", "the Company" or "the Group")
Global Custodian contracts to integrate with StatPro Revolution
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 feasibility study, a Global Custodian Bank has now contracted to integrate its client data with StatPro Revolution. The Custodian aims to offer all its clients easy access to the most sophisticated portfolio analysis and reporting using Revolution.
Launched as a public beta version in July 2010, StatPro Revolution is an online portfolio analytics service offering performance, attribution and risk for portfolio managers all around the world, but at a fraction of the price such services used to cost. The technology of StatPro Revolution means that integration with the Custodian Bank can happen in a matter of months and be available to all the Custodian's clients from the New Year thus giving them a significant commercial advantage over the competitors.
Simultaneously, Phase II of the Public Beta of StatPro Revolution has been launched today as scheduled.
SaaS technologies are transforming whole sectors across the business world and Portfolio Analytics is no exception. StatPro is the first company to offer a genuine SaaS solution that integrates data and software as a service for portfolio analysis. StatPro Revolution is an open platform with a toolkit for integration with third party solutions. The key objective is to offer an outstanding and equal service to fund managers of all sizes at affordable prices.
Justin Wheatley, CEO of StatPro Group plc commented, "Contracting with a major Custodian Bank for use of StatPro Revolution is a significant milestone for us, endorsing our investment and validating the market potential. Our client will be able to use our technology to provide its clients with a far superior analytics service to its competitors using our proprietary SaaS technology. We are also delighted to be launching Phase II of our public Beta of Revolution on time and to budget. This release has significant functional enhancements and we look forward to welcoming more beta clients."
To sign up to a trial account for StatPro Revolution go to www.statpro.com
For further information, please contact:
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StatPro Group plc |
www.statpro.com |
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Justin Wheatley, Chief Executive |
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020 8410 9876 |
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Andrew Fabian, Finance Director |
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Cenkos Securities |
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Ken Fleming |
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0131 220 6939 |
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Jon Fitzpatrick |
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0207 397 8900 |
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Julian Morse |
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020 7397 1931 |
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Threadneedle Communications |
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Tom Moriarty / Caroline Evans-Jones / Hilary Millar |
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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.
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