28 September 2016
StatPro Group PLC
World’s most scalable performance measurement system for asset managers launched
StatPro Group plc, (“StatPro”, “the Group”, AIM: SOG), the cloud-based portfolio analysis and asset pricing services provider for the global asset management industry, launches today a major expansion of its Revolution platform with a new cloud-based performance measurement service, StatPro Revolution Performance.
StatPro Revolution Performance simplifies the critical process of performance measurement for asset managers at a time when data management complexity grows and demands from regulators and clients continue to increase.
Asset managers are struggling to keep pace with rapid change in the industry, with many systems operating at peak load and failing to meet ever-shorter calculation deadlines. StatPro Revolution Performance provides immense scalability with data control and workflow for asset managers of any size and enables them to utilise the enormous scalability of the cloud, which will make entirely new levels of productivity a reality.
Justin Wheatley, Chief Executive, commented:
“We are delighted to launch this core service of our Revolution platform, today. Over the last decade we have designed and built a unique cloud-based performance measurement service for asset managers.
“StatPro Revolution Performance significantly reduces the turnaround time for delivering portfolio performance results to stakeholders. It enables clients to manage and control data more efficiently, calculate results faster than ever before, and distribute results for analysis and reporting, all within a single platform.
“We always look to provide our clients with significant productivity gains, but the productivity gains promised by Revolution Performance are of a different magnitude. We believe the business benefits of our new cloud technology will transform the way asset managers calculate performance.”
Analyst and investors presentation
StatPro is hosting an analyst and investors presentation today. Justin Wheatley, the Group’s Chief Executive Officer, is leading the event with presentations from other key executives covering StatPro Revolution. There will be no material information published and the presentations will be published on the Group’s website later today.
Client launch event
The Group is also hosting a launch event today for clients: 2:00pm at Banking Hall, 14 Cornhill, London.
Asset management industry
The asset management industry has grown rapidly since the 1980’s. In 1980, US mutual funds had just $135 billion in assets; by 1990 that had risen to $5 trillion. Today, it is estimated that total assets under management in pensions, insurance, mutual funds, hedge funds and private wealth accounts is around $100 trillion. This makes the asset management industry a significant portion of the financial markets.
At the same time, the systems that were first implemented for the industry have failed to keep up with the huge growth in assets, complexity and sophistication of the asset management business. In addition a plethora of regulations have been imposed by governments and regulatory bodies.
Very few asset managers of any size have only one system for performance measurement and most have many. This situation evolved as different parts of any one organisation selected different systems, including the front office for managing money, the middle office for reporting to clients and the back office for reporting to private clients.
StatPro believes that if asset managers rationalised these systems the savings made would be considerable, not only in system costs and duplicated IT and data licenses, but also in the effort to manage and reconcile differing numbers from different systems.
The challenge for any single system is to be scalable in order to handle large volumes of portfolios to be able to manage private client portfolios, fast enough to provide timely data to the front office and sufficiently precise to meet the needs of the middle office for reporting and compliance purposes.
StatPro Revolution Performance meets all these requirements.
StatPro Revolution Performance leverages the huge scale of the Amazon Web Services (AWS) and its elastic cloud. AWS has over 5 million servers across its many data centres. StatPro Revolution Performance can auto-scale (automatically request additional servers) to meet required calculation times.
For example, a client can stipulate that a calculation take no more than 30 minutes and the service will request sufficient servers to meet this time frame. This innovation liberates asset managers from lengthy and unpredictable calculation windows using fixed IT infrastructure.
What used to take one to two days can now be done in a few hours. This in turn will increase the productivity and service quality that asset managers and fund administrators can offer their clients.
StatPro Revolution Performance is an integral part of StatPro Revolution. StatPro Revolution offers many performance analytics, multiple attribution models, multiple risk models, stress tests, back testing and scenario analysis as well as multiple reporting and integration solutions. The combination of all these analytics connected to the power of the Performance platform makes StatPro Revolution unique in range and depth of functionality as well as being hugely scalable.
Today, StatPro has three clients paying for early versions of StatPro Revolution Performance. Two of these clients are fund administrators who serve a large number of clients.
StatPro will now be able to convert fully its clients who are using its SDH (StatPro Data Hub) and SPA (StatPro Performance and Attribution) modules of StatPro Seven to StatPro Revolution, approximately 100 clients.
|StatPro Group plc|
|Justin Wheatley, Chief Executive||+44 (0) 20 8410 9876|
|Andrew Fabian, Finance Director|
|Panmure Gordon – Nomad and Broker|
|Corporate Finance – Freddy Crossley / Fred Walsh||+44 (0) 20 7886 2500|
|Corporate Broking – Tom Salvesen|
|Adrian Duffield / Lauren Foster||+44 (0) 20 7457 2020|
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.
StatPro has grown its Annualised Recurring Revenue from less than £1 million in 1999 to around £36 million at the end of June 2016. The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 38 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.