10 August 2017
StatPro Group PLC
Singapore client signs Revolution for $1.0m over 2.5 year 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 signed a two and a half year contract extension and consulting agreement, to migrate a major Singapore-based asset manager from StatPro Seven to the cloud-based StatPro Revolution platform.
In August 2016, the Singapore Monetary Authority (MAS) issued an update to its outsourcing guidelines, stating the benefits of cloud computing to financial service institutions in Singapore. The guidelines state that:
“MAS…recognises that institutions may leverage on such a service to enhance their operations and service efficiency while reaping the benefits of cloud services’ scalable, standardised and secured infrastructure.”
Justin Wheatley, Group CEO, commented:
“We are delighted by this client conversion and uplift from StatPro Seven to StatPro Revolution. Singapore is a major hub for asset management in Asia and the endorsement of our Cloud-based solution, StatPro Revolution, by a major Singapore based asset manager is an important step in our growth in Asia.
“Our highly scalable, super-fast and precise cloud-based services are taking the asset management industry into the next generation of technology. With price pressure and regulation forcing our clients to improve efficiency and their quality of service, while cutting costs, we are well placed to support all our 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 / Fabien Holler||+44 (0) 20 7886 2500|
|Corporate Broking – Tom Salvesen / James Stearns|
|Adrian Duffield / Chris Birt||+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.
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 £53 million today. Over 75% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.