15 Jan 2019 07:00
RNS REACH
15 January 2019
StatPro Group PLC
Large US asset service provider signs $1.5 million contract
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 secured a three-year contract with a US asset management service provider for one of its clients to use StatPro Revolution, with a minimum contract value of US$1.5 million.
One of the Group's existing US asset service providers has gained a new client for its platform and as part of the contract, the new client has also subscribed to StatPro Revolution for performance and risk services. This is its sixth client to use Revolution.
Justin Wheatley, Group CEO, commented:
"Our strategy is to supply our flagship Revolution service to fund administrators and asset management service providers so they can offer higher quality performance and risk services to their clients.
"As the asset management market increasingly turns to outsourcing in order to reduce costs, we are uniquely placed to work with the largest outsourcing providers and derive new business from these sources.
"Winning a large new client by working closely with an existing partner is further evidence that our strategy is bearing fruit."
Enquiries:
StatPro Group plc | |||
Justin Wheatley, Chief Executive | +44 (0) 20 8410 9876 |
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Andrew Fabian, Finance Director |
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Panmure Gordon - Nomad and Broker |
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Corporate Finance - Freddy Crossley / Fabien Holler | +44 (0) 20 7886 2500 |
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Corporate Broking -James Stearns |
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Instinctif Partners |
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Adrian Duffield/Kay Larsen/Chantal Woolcock | +44 (0) 20 7457 2020 |
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About StatPro
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.
The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 39 countries around the world.
StatPro has grown its Annualised Recurring Revenue from less than £1 million in 1999 to around £55 million at the end of September 2018. Around 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.