4 Feb 2010 07:00
For immediate release 4 February 2010
STATPRO GROUP PLC
("StatPro", "the Company" or "the Group")
Aviva Investors selects StatPro in global SaaS first
StatPro Group plc (AIM: SOG), the AIM listed provider of portfolio analytics and evaluation services for the global asset management industry, today announces that Aviva Investors has signed a contract for its GIPS compliance software, heralding StatPro's first global SaaS implementation.
Aviva Investors is a global asset management business owned by Aviva plc, the fifth largest insurance group in the world. The three-year deal is for StatPro Composites (a multi-currency tool for composite and account reporting to achieve and maintain GIPS® compliance), within StatPro's hosted environment. GIPS (Global Investment Performance Standards) is a vital tool for asset managers enabling them to demonstrate that their performance numbers comply with industry best practice. This allows them to win new mandates especially from pension funds.
Justin Wheatley, CEO of StatPro, commented, "This agreement means that StatPro is now integrated into Aviva Investors global GIPS compliance project. Aviva Investors has been using StatPro Composites in the UK and Ireland since 2003 based on the system's performance, it has now become their hosted global GIPS solution, rolled out to five additional sites in Paris, Des Moines, Melbourne, Warsaw and Bucharest. This is a great example of how our newly developed SaaS service lets us extend customer relationships and enter new geographies."
GIPS compliance and verification was achieved with the help of StatPro Composites as the facilitating system in this new environment. All manufacturing offices were verified by December 2009.
Mark Goodey, Head of Performance at Aviva Investors, added, "StatPro was able to offer a cost-effective hosting solution which enabled easy deployment to these sites. We are now benefiting from GIPS verification for our offices around the world, improved service level agreements and global support on a 24-hour basis."
Performance, client reporting, marketing and RFP teams around the twenty offices will have access to the system.
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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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| Jon Fitzpatrick / Ken Fleming |
| 0131 220 6939 |
| Julian Morse |
| 020 7397 1931 |
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| ICIS |
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| Tom Moriarty / Caroline Evans-Jones |
| 020 7651 8688 |
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 GBP 1 million in 1999 to GBP 28.3 million at end June 2009. 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 80% of recurring revenues being generated outside the UK.