11th Oct 2010 07:00
Monday, 11th October 2010
STATPRO GROUP PLC
("StatPro", "the Company" or "the Group")
Nedbank selects StatPro for portfolio analytics suite
StatPro Group plc (AIM:SOG), the AIM listed provider of portfolio analysis and asset pricing services for the global asset management industry, is pleased to announce that the South African custodian division of Nedbank has committed to the new StatPro Seven analytics platform.
Nedbank, the fourth largest bank in South Africa, has signed for StatPro Seven Performance, Attribution, Fixed Income, Compliance and Analytics Reporting modules plus Index Data services.
Louise Currie, General Manager at Nedbank commented, "This implementation will provide us with full performance, attribution and compliance functionality that we can manage and pass on to our clients in a scalable manner, whilst ensuring that industry standards are not only met but exceeded. In keeping with the requirements of the local market, we are keen to implement StatPro Portfolio Compliance - recognised as the market leader in South Africa."
Justin Wheatley, CEO of StatPro Group plc added, "We continue to see strong interest in StatPro Seven, our fully hosted analytics platform from asset managers and custodian banks around the world. The scalable nature of the solution and its inherent compliance management system means it is well positioned to meet the needs of the global asset management community. We have an excellent reputation in South Africa and this agreement with Nedbank underlines our leading position in that market."
Deployment of the system will begin in October 2010.
For further information, please contact:
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StatPro Group plc |
www.statpro.com |
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Justin Wheatley, Chief Executive |
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020 8410 9876 |
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Andrew Fabian, Finance Director |
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Cenkos Securities |
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Ken Fleming |
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0131 220 6939 |
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Jon Fitzpatrick |
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0207 397 8900 |
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Julian Morse |
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020 7397 1931 |
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Threadneedle Communications |
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Tom Moriarty / Caroline Evans-Jones / Hilary Millar |
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020 7653 9850 |
About StatPro
StatPro is a leading provider of portfolio analytics and data solutions for the global asset management industry. The Company sells a SaaS-based Analytics and Data platform on a rental basis to investment management companies allowing them to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides market data and valuation feeds including a Complex Asset Pricing service.
StatPro has grown its recurring revenue from less than £1 million in 1999 to £28 million at end June 2010 and currently enjoys a renewal rate of approximately 90%. 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 79% of recurring revenues being generated outside the UK.
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