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StatPro says major fund administrator to migrate to StatPro Revolution; shares gain

Fund administrators are increasingly required to provide a wide range of complex technologies to deliver the services that asset managers need, and StatPro Revolution has been tailor-made to address these requirements
Portfolio analytics
StatPro's cloud-based platform provides vital analysis of portfolio performance, attribution, risk and compliance.

StatPro Group PLC (LON:SOG) shares rose on Monday after the firm revealed that a top 10 global fund administrator is to migrate from StatPro Seven to the cloud-based StatPro Revolution.

The conversion and extension contract is worth at least US$500,000 a year, StatPro said in a statement.

READ: StatPro saw sales activity accelerate in final quarter of 2017

"As asset managers increasingly look to outsource their routine processes due to regulation and cost pressures, they will increasingly gravitate towards those fund administrators that have invested in the best technology and unmatched service,” said Justin Wheatley, the chief executive officer of StatPro.

“Our strategy is to address the needs of the global fund administration industry to provide best in class cloud-based portfolio analytics technology to their asset management clients," he added.

In early afternoon trading, StatPro shares were up 1.4% at 180p.

 -- Adds share price --

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August 19 2018

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