11th Jun 2012 07:00
For Release at 07.00 11 June 2012
STATPRO GROUP PLC
("StatPro" or the "Group")
Momentum Investments signs up to StatPro Revolution
StatPro Group plc (AIM: SOG), a global leader in portfolio analytics services, today announces that one of South Africa's largest investment managers, Momentum Investments, has chosen StatPro's cloud based service, StatPro Revolution, for the distribution of fund performance analysis to new and existing customers. Momentum Investments, which has more than R272 billion ($32 billion) assets under management as at 31 December 2011, is an existing user of StatPro's portfolio analytics and research services, StatPro Seven, and will now use StatPro Revolution to communicate the analysis. Momentum Investments is now one of the largest users of the StatPro Revolution service.
This is the latest in a series of recent wins for StatPro Revolution since its launch in 2011. By adopting cloud-based services, asset managers have been able to reduce their IT costs while increasing assets under management through the provision of dynamic data on fund performance.
Stanley Kumalo, chief integration officer at Momentum Investments, says: "StatPro Revolution is truly ground-breaking in that it is a comprehensive cloud-based portfolio analytics solution bringing substantial benefits to our business as a whole. StatPro Revolution provides us with centralised control and management, and limitless distribution capabilities across all spheres of our business, thereby ensuring that our analytics data is available dynamically to all those business functions that require it. This service not only enables asset managers to reduce costs, but also increase assets under management."
Marc Zandt, chief executive officer, StatPro South Africa, commented: "Before StatPro Revolution, many investment managers were unable to distribute performance measurement, attribution and risk analytics in an interactive and cost effective way. Our cloud-based platform enables Momentum Investments to have access to a market-leading service at a compelling price."
Justin Wheatley, group chief executive, StatPro, adds: "We are very pleased to have Momentum Investments using StatPro Revolution alongside StatPro Seven. StatPro Revolution has been well received in the South Africa market and globally due to its accessible price point, robust analytics, exceptional reporting capabilities, and technological flexibility. "
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For further information, please contact:
StatPro Group plc | www.statpro.com | |
Justin Wheatley, Chief Executive | 020 8410 9876 | |
Andrew Fabian, Finance Director | ||
Cenkos Securities | ||
Stephen Keys | 020 7397 8926 | |
Adrian Hargrave | 020 7397 8922 | |
Julian Morse (Sales) | 020 7397 1931 | |
Newgate Threadneedle | ||
Caroline Evans-Jones/ Hilary Millar | 020 7653 9850 |
About StatPro
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 for hundreds of fund managers, RIAs, CEOs, heads of risk, sales directors, marketing managers and authorised corporate directors. They are now using our cloud services and software products to perform sophisticated analysis, reporting and distribution every day.
With 18 years of experience and expertise, we believe analytics should be sophisticated yet simple and useful as well as secure. StatPro data coverage includes global equities, global bonds, global mutual funds, most families of benchmarks, FX rates, sector classifications and much else besides.
StatPro has operations in Europe, North America, South Africa, Asia and Australia and more than 300 clients in 25 countries around the world.
StatPro has grown its recurring revenue from less than £1 million in 1999 to £29 million at end December 2011 and currently enjoys a renewal rate of approximately 92%. StatPro floated on the London Stock Exchange in May 2000 and transferred its listing in June 2003 to AIM. The Company has operations in Europe, North America, South Africa and Australia, with approximately 80% of recurring revenues being generated outside the UK.
About Momentum Investments
Momentum Investments has more than R272 billion ($32 billion) assets under management, making it one of South Africa's largest investment houses. It offers a wide spectrum of investment services and solutions to both individual and institutional investors, including asset management, alternative investments, collective investments, multi-management, global investments, property investments and various investment platforms.
Momentum Investments include all investment-related businesses of MMI Holdings which was formed through the merger of Momentum and Metropolitan, with total assets of about R414 billion ($50 billion) at 31 December 2010.
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