StatPro Group PLC (LON:SOG), the portfolio analytics provider, has announced a strategic partnership with Broadridge Financial Solutions Inc (NYSE:BR).
Broadridge said that hooking up with StatPro would enhance its existing performance reporting platform by providing comprehensive analytics for alternative and traditional asset managers working to meet an increased demand for performance measurement, attribution and risk analytics.
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StatPro's cloud-based performance and risk platform will streamline the analytics process through automating the upload of client portfolio data into the system, triggering performance calculations instantaneously and making results available for download to Broadridge's data warehouse to support the investment process and client reporting, Broadridge said.
"With its connections to index data providers and aggregators, StatPro will help provide data we believe will add significant value to our clients. Our shared goal is to save time for asset managers so they can focus on generating returns and serving their clients,” said Eric Bernstein, the head of Broadridge's asset management solutions.
Justin Wheatley, the chief executive officer of StatPro, said Broadridge has proved itself to be a leading provider in its market.
“We are proud to partner with them to provide their clients with our full range of portfolio analytics ranging from performance measurement to risk management tools, including complex fixed income analysis using StatPro Revolution: our super-scalable cloud-based portfolio analytics platform," he said.
Shares in StatPro rose 1p to 179p following the announcement and have risen from 142.5p since the beginning of the year.
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