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 signed a 5 year contract renewal worth over £1.6m with a top 10 asset manager, for its leading GIPS compliance solution, StatPro Composites.
A key element to the renewal was the ability of StatPro Composites (part of the StatPro Seven product suite) to manage a global GIPS certification project which is essential for the client. Scalability was also crucial as the system is required to manage and report on Composites numbering in the thousands, a particular strength of the StatPro solution. The continued partnership also makes provision for the client to migrate the solution to StatPro's cloud-based platforms, StatPro Revolution and StatPro R+. This five year renewal demonstrates the client's confidence in StatPro's technology roadmap and our next generation of performance management solutions.
Justin Wheatley, StatPro Group CEO, commented, "This five year contract renewal from such an important global client, shows the confidence in our ability to continue to deliver a global GIPS solution. This top 10 asset manager has understood StatPro's commitment to new technology and demonstrated their belief in our roadmap by signing for a further five years. We are delighted to continue our partnership."
StatPro is a global provider of portfolio analytics for the investment community. Our cloud-based services provide vital analysis of portfolio performance, attribution, risk and compliance. Hundreds of investment professionals use our services directly or through a fund administrator/partner to perform sophisticated analysis, reporting and distribution every day.
With over 20 years of experience and expertise, we believe analytics should be sophisticated, simple and secure. StatPro data coverage includes over 3.2 million securities such as global equities, global bonds, global 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 £28 million at 30 June 2014. 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. Approximately 80% of recurring revenues are generated outside the UK.