LONDON, UNITED KINGDOM -- (Marketwired) -- StatPro Group plc (AIM: SOG), the AIM listed provider of cloud-based portfolio analytics for the global asset management industry, today announced it has won a multi-year contract worth a minimum of $1.1m over three years, with a major Italian asset manager with assets under management of over EUR 18 billion for its StatPro Revolution service.
The key driver for the client was to enhance their risk and performance analysis and distribution across its funds. The Risk Management team plan to make more interactive analysis available directly to portfolio managers so they can self-serve using this cloud-based service rather than requesting and waiting for static reports. The ability to control and share portfolio analysis across their entire organization at no extra cost was an important factor in the decision to sign with StatPro. Another area of the business looking to benefit from StatPro Revolution is the Wealth Management arm, who are already using the platform with a selection of advisory portfolios and clients.
Justin Wheatley, StatPro Group CEO, commented, "This is a significant deal for StatPro as we continue to see growth in our StatPro Revolution client base. Adding a major European asset manager shows how the product is maturing with sophisticated levels of portfolio analysis and unrivaled distribution with our ability to share interactive analysis online. We're very excited to see another client embracing an online, self-service approach when it comes to portfolio analysis reporting."
StatPro is a global provider of portfolio analytics for the investment community. Our cloud-based services provide vital analysis of portfolio performance, attribution and risk. Hundreds of investment professionals use our services directly or through a fund administrator to perform sophisticated analysis, reporting and distribution.
With 20 years of experience, we believe analytics should be sophisticated yet simple and useful as well as secure. StatPro data coverage includes global equities, bonds, mutual funds, most families of benchmarks, FX rates, sector classifications and much else besides.
StatPro has grown its recurring revenue from less than $1 million in 1999 to around $50 million at 31 December 2013. StatPro floated on the main market of the London Stock Exchange in May 2000 and transferred its listing to AIM in June 2003. The Group has operations in Europe, North America, South Africa, Asia and Australia and approximately 500 clients in 36 countries around the world. Approximately 80% of recurring revenues are generated outside the UK.