StatPro Group, a provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, has entered into a five-year contract with a global South African asset manager for a minimum value of approximately GBP1.5 million (ZAR26.6 million).
The client will continue to use StatPro Seven before migrating to StatPro Revolution.
In 2017 the asset manager will start a proof of concept with StatPro Revolution Performance with a view to deploying the full StatPro Revolution suite in 2018.
Justin Wheatley (pictured), group CEO, says: “The process of converting our clients from our older technology for performance and risk, StatPro Seven, to the cutting-edge cloud technology of StatPro Revolution is accelerating.
“This client’s commitment to a long-term relationship, with their requirement to use our innovative cloud solution for performance and risk analytics, is a good example of how we are expanding our client contracts as they switch to StatPro Revolution Performance.
“Our current focus to migrate performance and risk clients to StatPro Revolution is expected to be largely completed over the next two years.”