Statpro Group Plc - StatPro signs three-year contr

31 July 2017

StatPro Group PLC

StatPro signs three-year contract with leading independent fund administrator, FundBPO Pty Ltd (FundBPO).

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 three-year contract extension with FundBPO for StatPro Revolution, including a portfolio usage increase and an extension of consulting.

FundBPO Pty Ltd (FundBPO), one of Australia's leading independent fund administrators, provides fund administration services to more than 630 managed funds, administering more than AUD$114 billion of funds globally.

As FundBPO is experiencing growth in demand for its middle office services, it is looking for a solution to meet its growing performance measurement and risk analytics needs. With a long-standing and trusted relationship with StatPro, FundBPO selected the Revolution platform to enhance their systems as they continue to invest in technology, providing their clients with a better experience.

Martin Smith, FundBPO Chief Executive Officer, commented:

"Our business is built on strong operational processes and technology platforms and we partner with specialist vendors such as StatPro to develop the applications we need to support our operations. Revolution's performance and risk reporting helps us create an optimal operating and reporting environment for our clients and their investors."

Justin Wheatley, Group CEO, commented: 

"We have worked with FundBPO for many years and seen their tremendous growth. FundBPO is now in a position to adopt StatPro Revolution, which is fast becoming the de facto solution for fund administrators. This enables reduced turnaround time to clients by using StatPro's highly scalable performance and risk service.

"As asset managers increasingly look to outsource their routine processes due to regulation and cost pressures, they will gravitate towards those fund administrators that have invested in the best technology, which provides a service that asset managers cannot match."

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About StatPro

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 Annualized Recurring Revenue from less than £1 million in 1999 to around £53 million today. The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 39 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.