StatPro secured a three-year contract with a US asset management service provider for one of its clients to use its clouds-based portfolio analysis software, StatPro Revolution. One of the StatPro’s existing US asset service providers has gained a new client for its platform.
As part of the contract, the new client has also subscribed to StatPro Revolution for performance and risk services. The minimum contract value is $1.5m.
Justin Wheatley, StatPro’s CEO, said that supplying the flagship Revolution service to fund administrators and asset management service providers is the group’s strategy, in an attempt to offer high-quality performance and risk services to clients.
Justin Wheatley also commented: “As the asset management market increasingly turns to outsourcing in order to reduce costs, we are uniquely placed to work with the largest outsourcing providers and derive new business from these sources. Winning a large new client by working closely with an existing partner is further evidence that our strategy is bearing fruit.”