BOSTON, MA — (Marketwired) — 09/19/13 — StatPro Group plc (AIM: SOG), a leader in services, today announces that it has integrated free, open and independent market indexes, via the Freedom Index Company, into StatPro Revolution, StatPro-s cloud-based portfolio analysis service.
Customers will now have direct access through, StatPro Revolution, to daily index data, free of charge, for portfolio perfomance measurement and benchmarking. The Freedom Index Company provides StatPro Revolution daily index data at total level and constituent level, as well as weights and returns (market capitalisation weighted and local, hedged and base currency returns) down to security level.
Justin Wheatley, Group CEO, StatPro states, “Some index data has become extremely expensive, especially for the top brands. This in turn makes it very expensive for asset managers to produce performance reports for their clients and to demonstrate their management competence versus the market neutral performance. We welcome the Freedom Index initiative which seeks to brand, independent, transparent and free indexes for the whole asset management community to use in their performance measurement reports to clients. Although smaller asset managers will benefit most, even larger asset managers are pleased that such an alternative exists to the top brands of indexes. The combination of being able to buy analysis by the portfolio from StatPro Revolution and procure index data for free with the Freedom Indexes means that any asset manager can now afford the highest quality client reporting.”
Anthony Howland, from the Freedom Index Company says, “We are delighted to be partnering with StatPro Revolution and to be part of their comprehensive service enabling cost effective portfolio analysis and reporting. Our objective is to provide free, open and independent indexes. Indexes are just a market barometer. We-re not introducing intellectual capital here. We-re introducing data, making it available and encouraging asset managers to design their own indexes.”
The Freedom Index Company provides basic starter indexes for free via its website, and also encouragesthe asset management community to produce their own indexes for publishing back to the Freedom Index website for others to use. An independent index committee approves each index.
About the Freedom Index Company
The Freedom Index Company is a “not for profit” company limited by guarantee (i.e. there is no share capital, dividends cannot be distributed, profits are retained to be reinvested in the company or the development of markets indexes). The company-s objective is to provide free, open and independent indexes for use by the asset management community worldwide. Further information can be found at
About StatPro Group:
StatPro is a global provider of portfolio analytics for the investment community. Our cloud-based services provide vital analysis of portfolio performance, attribution and risk. Hundreds of investment professionals use our cloud services directly or through a fund administrator/partner to perform sophisticated analysis, reporting and distribution every day.
With nearly 20 years of experience and expertise, we believe analytics should be sophisticated yet simple and useful as well as secure. StatPro data coverage includes global equities, global bonds, global mutual funds, most families of benchmarks, FX rates, sector classifications and much else besides.
StatPro has grown its recurring revenue from less than £ 1 million in 1999 to around £ 30 million at 30 June 2013 and currently enjoys a renewal rate of approximately 91%. StatPro floated on the main market of the London Stock Exchange in May 2000 and transferred its listing to AIM in June 2003. The Group has operations in Europe, North America, South Africa, Asia and Australia and approximately 425 clients in 36 countries around the world. Approximately 80% of recurring revenues are generated outside the UK.
For further information contact:
Rachael Cooper
Global Marketing Manager, StatPro
Mobile: +44 (0)7983 512976
Email:
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