StatPro Group PLC – $1.2m contract extension for Revolution

StatPro Group plc (AIM: SOG), the AIM listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, has signed a contract extension with a major Fund Administrator for StatPro Revolution worth $1.2 million over the next three years as the Fund Administrator has secured a new client requiring StatPro’s capabilities. 

Fund Administrators are an increasingly important distribution channel for StatPro, as the Asset Management market looks to outsource key data management functions.

StatPro Revolution is uniquely adapted to help Fund Administrators provide portfolio analytics to asset managers, combining a superior service and lower cost of ownership due to its cloud-based technology. 

StatPro expects to see further growth from major Fund Administrators during the course of the year.

Justin Wheatley, Group CEO, commented: 

“This notable additional business via one of our major Fund Administrator clients is a clear demonstration of the steady transformation of the asset management market to outsourcing and the opportunity this represents for us.

“Our objective is to build on our third party relationships to enhance our growth and we are strategically well placed to benefit from this industry trend.”