21st Jul 2014 08:19
LONDON (Alliance News) - StatPro Group PLC said Monday that it has won a contract for its Revolution service with an unnamed Italian asset manager worth a minimum of USD1.1 million over three years.
The portfolio analysis and asset pricing services provider said the contract was agreed to help the client to enhance risk and performance analysis and distribution across its funds.
Under the terms of the agreement StatPro's 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, said the company.
Another area of the business looking to benefit from StatPro Revolution is the Wealth Management arm, which is already using the platform with a selection of advisory portfolios and clients, said the AIM-listed company.
StatPro said the unnamed Italian asset manager has assets under management of more than EUR18 billion.
StatPro Group CEO Justin Wheatley said, "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."
Shares in StatPro were trading higher Monday morning, up 1.28%% at 87.10 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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