15 Aug 11 Portfolio Management Software Market Maturity
The provision of software in the financial services industry is extremely competitive. At some point, functionality is no longer a differentiating factor, and providers of portfolio management software push to reduce the costs of supporting the product.
In another attempt to differentiate their products, developers are adding wizards, macros, on-screen instructions, templates and other performance support features in order to decrease the difficulties associated with using such portfolio management systems. This has resulted in users being less likely and less willing to pay for training sessions on the product, and so training revenues have also declined.
Market maturity is reflected in this effort to drive down costs, as well as in the demand for more integrated products. The number of features that a particular portfolio management system can provide which were once considered additional extras, are being considered as standard features as the market matures.
The automobile industry is a great example of this. Almost twenty years ago, cars were not fitted with radios and speakers, and car owners would buy them separately and install both themselves. As little as two years ago, satellite systems had to be bought separately. Today however, the car market’s levels of integration mean that you can find the same features in a Fiat 500 as you would in a Ferrari. The Ferrari is obviously a little more flash, but the extras that at one time differentiated it from other cars have now become industry standard.
Similarly in areas of the financial market, especially investment management technology, there has been a shift towards integration in recent years as the market matures.
In the past, an investment manager would have to buy numerous systems in order to measure portfolios effectively. He would need to buy a performance and attribution system, a risk system, an asset allocation system, a system for research, and he would also need to find a vendor that has all the necessary data to calculate risk and performance. Asset managers are looking to have all their portfolio analytics integrated within one portfolio management solution.
Today, it is expected that a portfolio management systems is low-cost, easy and quick to implement and easily accessible via the web, as well as having all the necessary pricing and benchmark data and the ability to offer a simple user experience.
In an integrated system, data is most important; pricing data, benchmark data, risk numbers, accruals for bonds and corporate actions to name a few. The difficulty arises when providers of integrated solutions need to incorporate all the necessary data into this one system. The need therefore arises to provide data coverage in addition to functionality. This remains a challenge today, but the industry is also developing at a rapid rate to ensure the development of intra-asset class and functionality.
Even though there are areas of the front and middle office that remain complicated and therefore also specialised, integrated portfolio analytics is undoubtedly the direction that this industry is going. The need for managers to share portfolio analytics information and reports will ensure that software as a service (SaaS) solutions are rewarded, making the most of the benefits that the cloud has to offer.
StatPro is a leading provider of portfolio management software to asset managers worldwide. Their new product StatPro Revolution combines portfolio analysis, risk measurement, attribution analysis and investment analysis in a cloud based software solution, allowing for easy analysis and reporting from one system.
Tags: attribution, attribution analysis, Portfolio Analysis, Portfolio Management Software
01 Jun 11 Fund Administrator Phoenix Chooses Revolution for Analytics
StatPro Group plc,a leading provider of portfolio analytics and data solutions for the global asset management industry, and Phoenix Fund Services, a UK and Ireland-based fund administration service provider, today have pleasure in announcing that they have successfully completed their first implementation of Revolution, StatPro’s new cloud-based analytics suite, for Unicorn Asset Management.
The deal follows StatPro Revolution being successfully trialled by Phoenix, which provides a comprehensive range of investment administration services to specialist and boutique investment management firms. Phoenix has now decided to offer the StatPro Revolution platform to all of its clients.
StatPro Revolution is a cloud-based portfolio analysis service offering performance, attribution, risk management and reporting for portfolio managers around the world. It was created to answer the industry’s priorities – improving communication, transparency and distribution, whilst cutting costs.
Steve King, Founder of Phoenix Fund Services, commented: “StatPro Revolution enables Phoenix to provide our clients with access to the most sophisticated portfolio analysis and reporting at a great price. Our clients will be able to see a complete picture of their portfolio asset allocation, risk performance and attribution. We opted for Revolution because of the simplicity and quality of the StatPro proposition, in addition to its outstanding value for money and the ease with which Phoenix has been able to integrate it into our comprehensive service proposition. Revolution provides real added value to our clients, who are sophisticated boutique and specialist investment managers that in the past would have struggled to justify the costs of accessing such a quality service.”
Philip John, Finance Director of Unicorn Asset Managment,
“We are delighted that Phoenix has been so proactive in delivering Statpro Revolution to its clients. The ease with which it has been possible to implement the service, the quality of what Statpro Revolution delivers and the price provide a compelling combination that can only enhance the performance we deliver to our clients.”
Justin Wheatley, CEO of StatPro Group plc commented: “We are really delighted to provide Revolution to Phoenix Fund Services and its clients. Thanks to StatPro Revolution, investment firms of all sizes can now afford to provide accurate reporting and analysis to their clients. We call it ‘analytics for the people’ and we’re proud to be helping the industry to become more transparent.”
For further information please contact:
Fabienne Pasquion, Ascension Consulting
Tel: +44.207100-6111 / +447984 119846
Email: fabienne@ascensionconsulting.co.uk
Anthony Wolfe, Business Development Director, Phoenix Fund Services
Tel: +44-1245- 398963
Email: anthony.wolfe@phoenixfundservices.com
Philip John, Finance Director, Unicorn Asset Management
Tel: +44207-253-0889
Email: philip.john@unicornam.com
Notes to Editors
Justin Wheatley is available for interview upon request.
About Revolution
SaaS technologies are transforming whole sectors across the business world and portfolio analytics is no exception. StatPro is the first company to offer a genuine SaaS solution that integrates data and software as a service for portfolio analysis. StatPro Revolution is an open platform with a toolkit for integration with third party solutions. The key objective is to offer an outstanding service and equal service to fund managers of all sizes at affordable prices.
For $100 per portfolio per month, Revolution includes risk, attribution, performance and reporting as well as access to StatPro’s data universe of more than 500,000 securities and 9000 benchmarks.
About StatPro
StatPro is a leading provider of portfolio analytics and data solutions for the global asset management industry. The Company sells a SaaS-based Analytics and Data platform on a rental basis to investment management companies allowing them to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides market data and valuation feeds including a Complex Asset Pricing service.
For more information on StatPro, please visit our website at http://www.statpro.com/
Tags: Portfolio Analysis, portfolio performance, Risk management
13 Apr 11 Revolution at the Tate Modern
London 13 April 2011 – StatPro Group plc, a leading provider of portfolio analytics and asset valuation services for the global asset management industry, today announces that the official launch of StatPro Revolution, its cloud-based portfolio analysis platform for asset and wealth managers, will be held at Tate Modern in London on 18th May 2011.
In co-operation with Cenkos Securities, a leading securities firm focused on UK small and mid cap companies, StatPro will unveil its revolutionary new front office solution at the event, which will be attended by the UK’s leading fund managers, prime brokers and industry CEO’s. Demonstrations and free 30-day trials will be on offer to the attendees.
StatPro Revolution offers performance, attribution, risk management and reporting for portfolio managers around the world. It was created to answer the industry’s priorities – improving communication, transparency and portfolio analysis distribution, whilst cutting costs. Because it is cloud-based, it is sold at a fraction of the price of traditional analytics solutions – US$100 per portfolio per month, for 100 users and unlimited report generation.
Justin Wheatley, CEO of StatPro Group plc commented: “Our vision for StatPro Revolution was ‘analytics for the people’ – to make a service that costs hundreds of thousands of dollars available to even the smallest asset manager. We are now incredibly excited to launch StatPro Revolution after a very successful nine-month beta period. We already have hundreds of users around the world and have signed several major clients. This is the beginning of a new era in the analytics industry.”
For further information please contact:
Jeanine Leuckel, StatPro
Tel: 020 8410 8655
Email: jeanine.leuckel@statpro.com
Fabienne Pasquion, Ascension Consulting
Tel: 020 7100 6111 / 07984 119846
Email: fabienne@ascensionconsulting.co.uk
Notes to Editors
Justin Wheatley is available for interview upon request.
About Revolution
Software as a Service technologies are transforming whole sectors across the business world and portfolio analytics is no exception. StatPro is the first company to offer a genuine SaaS solution that integrates data and software as a service for portfolio analysis. StatPro Revolution is an open platform with a toolkit for integration with third party solutions. The key objective is to offer an outstanding service and equal service to fund managers of all sizes at affordable prices.
For $100 per portfolio per month, Revolution includes risk, attribution, performance and reporting as well as access to StatPro’s data universe of more than 500,000 securities, including global mutual fund data and 9000 benchmarks. This fee also includes access to an unlimited amount of report generation and unlimited amount of data imports. For those signing up for the free 30-day trials, there is no sharing functionality.
About StatPro
StatPro is a leading provider of portfolio analysis analytics and asset valuation solutions for the global asset management industry. The Company sells a SaaS-based Analytics and Data platform on a rental basis to investment management companies allowing them to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides market data and valuation feeds including a Complex Asset Pricing service.
For more information on StatPro, please visit our website at http://www.statpro.com
Tags: Portfolio Analysis, portfolio performance, Risk management
31 Mar 11 Trasset International Enters into a Partnership Agreement with StatPro on Risk Management
StatPro Group plc, a leading provider of portfolio analysis and asset valuation services for the global asset management industry, today announces that Trasset International S.p.A, an international software solution provider for banks and financial institutions has signed a partnership agreement to integrate the StatPro Risk Service into the Trasset banking platform. Trasset has operations in over 19 countries spanning across Europe, the Middle East, America and Asia and customers include ING Bank, Raiffeisen Bank, AXA, Allianz and Al Rajhi Bank.
Trasset is keen to offer risk management functionalities within its own suite. The integration of the StatPro risk engine together with the data service will allow Trasset’s customers to access a state-of-the-art risk application. “In line with our strategy to further expand the use of our solutions via third party partners, we believe that Trasset’s market position coupled with StatPro’s reputation for excellence will be of mutual interest. Ultimately, this deal will further improve the quality of services provided by Trasset to its existing customers” said Michel Lempicki, StatPro Corporate Development Director. “This agreement takes us one step closer towards our ambition to reach a presence in countries where StatPro is not physically located . We have the expertise in the risk management domain, Trasset has the market knowledge. We are therefore looking forward to this cooperation and are keen to expand it even further.”
Deployment of the risk management tool will begin in Q2 2011.
Albert Fekete, Chief Executive Officer at Trasset International: “We are committed to continuously finding new ways to make our clients more and more satisfied with Trasset solutions and services. We carried out a long and accurate software selection to find a reliable partner which could deeply complement our products in the risk management area, having a robust methodology and a strong reputation at a global level. We found all those characteristics in StatPro. Thanks to this in-depth integration, StatPro VaR and other portfolio risk management analytics will empower Straight-Through-Processing (STP) and Reporting of our Asset & Wealth management and Treasury management systems.”
For further information please contact:
Jeanine Leuckel, StatPro
Tel: 020 8410 8655
Email: jeanine.leuckel@statpro.com
Fabienne Pasquion, Ascension Consulting
Tel: 020 7100 6111 / 07984 119846
Email: fabienne@ascensionconsulting.co.uk
Notes to Editors
Michel Lempicki is available for interview upon request.
About Trasset
Trasset provides integrated and modular STP Front-, Middle- and Back- Office systems. The company solutions gained reputation around the flexibility and capacity of automation with applications supporting both conventional and Islamic finance. Trasset targets commercial banks, central banks, custodian banks, clearing houses, debt management agencies, asset management companies, and other financial institutions working in the Asset & Wealth Management, Treasury Management, Retail & Corporate Banking (Credit management) domains.
For more information on Trasset, please visit the website at http://www.trasset.com
About StatPro
StatPro is a leading provider of portfolio analytics and asset valuation solutions for the global asset management industry. The Company sells a SaaS-based Analytics and Data platform on a rental basis to investment management companies allowing them to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides market data and valuation feeds including a Complex Asset Pricing service.
For more information on StatPro, please visit our website at http://www.statpro.com
Tags: Portfolio Analysis, portfolio performance, portfolio risk management
14 Mar 11 StatPro to launch ‘Revolution’ at Fund Forum in Hong Kong
Shanghai – March 14, 2011 – StatPro Group, a global provider of portfolio analysis and asset valuation services for investment professionals, today announces that the Asian launch of ‘Revolution’ – a pure Software as a Service cloud-based offering for portfolio analytics and reporting – will be in Hong Kong next month.
Revolution will be on display at the 5th Annual Fund Forum Asia 2011 event, at the JW Marriott Hotel, Hong Kong from 28 March – 1 April 2011. Participants will have the opportunity to request a live demo of the product onsite.
Revolution is an online portfolio analysis service offering performance, attribution, risk and reporting for portfolio managers all around the world, but at a fraction of the price of traditional software only solutions.
StatPro Marketing and Technology Director Neil Smyth said: “We believe that StatPro Revolution is currently the only Internet service of its kind available in Asia with this level of sophisticated portfolio analytics. Priced at just $100 per portfolio per month, it is affordable for any financial services company to use anywhere in the world. This is particularly relevant to the rapidly growing wealth management market in China and Hong Kong.”
A free trial version of StatPro Revolution is available online on: http://www.statpro.com/revolution
For further information please contact:
Jeanine Leuckel, StatPro
Tel: 020 8410 8655
Email: jeanine.leuckel@statpro.com
Nicole Zhao, Ascension Consulting
Tel: +86 21 60831155 x164
Email: shanghai@ascensionconsulting.co.uk
Notes to Editors
Neil Smyth is available for interview upon request.
About StatPro
StatPro is a global provider of portfolio analysis and asset valuation services. The company provides a platform for professionals to analyse and report on performance, attribution, portfolio risk measurement, compliance, GIPS and more. Benefiting from over 15 years of expertise, the company now launches StatPro Revolution a complementary cloud based portfolio analysis, reporting and distribution service. Available anywhere, StatPro Revolution combines best of breed analysis with leading technology to provide a powerful web based platform at incredible value.
Tags: asset valuation services, Portfolio Analysis, portfolio risk measurement
02 Dec 10 StatPro Signs New Customer Contracts in North America, Europe and Asia
StatPro Group, a leading provider of portfolio analysis and asset valuation services for the global investment management industry, today announced that it has signed new multi-year contracts with several customers in North America, Europe and Asia. The new customer contracts include a variety of StatPro products, including the StatPro Seven portfolio analytics platform and the company’s evaluated pricing services.
The contracts were signed with TCW, State Street Global Advisors, Indus Capital Management, PIMCO, Horizon Asset Management and BofA Merrill Lynch in North America; Adepa, Banco Finat, Bank of Ireland, Barclays Capital, CACEIS, NGAI, Polar Capital, SIA SSB, Royal Mail, River and Mercantile Asset Management and Liverpool Victoria Asset Management in Europe; Nedbank in Africa and a major asset manager in Singapore. These contracts support StatPro’s business objectives for the year and add to the Group’s high levels of recurring revenue under contract.
“StatPro’s integrated product strategy and SaaS delivery model offers a wide range of functionality to help customers meet the ongoing challenges of portfolio analysis,” said Mark Bramley, CEO of StatPro North America. “Our SaaS model allows customers to benefit from faster, easier system updates, improved service and reduced costs.”
Media Contacts
Karleen Fallon
+1 617-692-1140
Jeanine Leuckel
+44 20 8410 8655
info@statpro.com
About StatPro
StatPro is a leading provider of portfolio analysis and asset valuation services for the global asset management industry. The company sells a SaaS-based analytics and data platform on a rental basis to investment management companies allowing them to analyze portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides an asset pricing service including a service to price complex assets and valuation feeds.
For more information on StatPro, please visit http://www.statpro.com
Tags: Asset pricing, asset valuation services, Portfolio Analysis, Risk Management Software
15 Nov 10 StatPro appoints RiskMetrics man as Sales Director
StatPro Group plc, a global provider of portfolio analysis and asset valuation services for investment professionals, has appointed Ruggero Frisina as European Sales Director.
Commenting on the appointment, CEO of StatPro Group plc Justin Wheatley said: “With the launch of StatPro Seven this year and that of Revolution in 2011, we wanted to bolster our European sales force. StatPro is considerably expanding its client base to cover asset management entities of all sizes, with StatPro Seven focussing on performance specialists in the middle office and Revolution on front office professionals. StatPro Revolution will be accessible for a wide audience as it is priced from $100 per portfolio per month, providing outstanding monetary value for small, medium and large asset managers alike. Frisina has been appointed to head the sales initiative and will manage our business development team across Europe. We are delighted to have him on board.”
Prior to joining StatPro, Frisina worked for four and a half years at RiskMetrics. He also spent a year and a half at Citigroup Asset Management and was at BNP Paribas for three years.
“I am joining StatPro at a particularly exciting time as it is simultaneously expanding its product offering and client base. StatPro has a long track record of offering state-of-the-art portfolio analysis products and risk management software solutions to the asset management industry. I am looking forward to promoting StatPro Seven and Revolution and expanding StatPro’s client base in Europe,” said Frisina.
For further information please contact:
Jeanine Leuckel, StatPro
Tel: 020 8410 8655
Email: jeanine.leuckel@statpro.com
Fabienne Pasquion, Ascension Consulting
Tel: 020 7100 6111 / 07984 119846
Email: fabienne@ascensionconsulting.co.uk
Notes to Editors
Justin Wheatley is available for interview upon request.
About StatPro
StatPro Group is a leading global provider of portfolio analysis and pricing services for the worldwide investment community. Founded in 1994, StatPro offers portfolio analytics software combined with pre-packaged evaluation services using a Software as a Service (SaaS) platform. The company’s integrated solutions provide performance measurement, liquidity risk measurement, attribution analysis, risk management, governance, compliance and reporting – all in a single interface. More than 250 major asset managers worldwide utilize StatPro solutions.
Read more on: www.statpro.com
Tags: Liquidity Risk, Portfolio Analysis, Risk Management Software, StatPro
08 Nov 10 StatPro voted ‘Best Risk Initiative’ in 2010 Buyside Technology Awards
London – November 8, 2010 – StatPro Group, a global provider of portfolio analysis and asset valuation services for investment professionals, was today voted the Best Buy-side Risk Initiative over the last 12 months in the 2010 Buyside Technology Awards.
The award was given for StatPro Risk Management, a risk application that is integrated with a detailed data service covering 74 equity markets, 65 fixed income markets and now also features a new liquidity risk model.
StatPro’s Risk Management model is based on historical simulation, corrected to take into account jump-to-default and event risk. It covers 260+ pricing functions and uses QuantLib, the open source library of financial pricing methods (www.quantlib.org), as the building block of its pricing formulas.
In September, StatPro launched a new version of the solution, StatPro Risk Management 5.70, delivering the new model to measure market liquidity risk to its clients.
Commenting on the awards (which are voted on annually by a panel of industry experts for excellence in financial IT solutions and services), Dario Cintioli, Head of Risk at StatPro said: “We are delighted that StatPro has been awarded this title, in recognition of the hard work we put in over the past year. Our liquidity risk approach is truly innovative and will enhance our risk offerings.”
For an overview of StatPro’s risk management solutions, please see http://www.statpro.com/portfolio_analytics/middle_office_analytics/risk_management.aspx
For further information please contact:
Jeanine Leuckel, StatPro
Tel: 020 8410 8655
Email: jeanine.leuckel@statpro.com
Fabienne Pasquion, Ascension Consulting
Tel: 020 7100 6111 / 07984 119846
Email: fabienne@ascensionconsulting.co.uk
Notes to Editors
Dario Cintioli is available for interview upon request.
About StatPro
StatPro is a leading provider of portfolio analysis and asset valuation services for the global asset management industry. The company sells a SaaS-based analytics and data platform on a rental basis to investment management companies allowing them to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides market data and valuation feeds including a Complex Asset Pricing service.
For more information visit http://www.statpro.com
26 Oct 10 StatPro discovers solution to the liquidity risk paradox
StatPro Group plc, a leading provider of portfolio analytics and asset valuation services for the global asset management industry, announces a major breakthrough in its risk measurement research.
StatPro has designed an innovative approach to measuring market liquidity risk that does not rely only on observed bid, ask and volumes. Instead, factors such as market capitalisation, the percentage of ownership of a stock and the size of an issue for a fixed income instrument are taken into account.
Liquidity risk refers to the risk of losing money when you suddenly liquidate one or more positions in your portfolio. The loss comes from selling the positions at a lower price than the one at which those positions are marked-to-market.
“While innovations in the area of market risk have been very active in recent years – for example, introducing the concept of Value at Risk – little exists on liquidity risk. The reason is that while measuring market risk you can create models that are calibrated with market data, you cannot do the same for liquidity risk,” said Dario Cintioli, Global Head of Risk of StatPro.
“In calibrating a liquidity risk model you need access to the bid, ask and volume information. Well, the problem is that this information is only available for liquid issues. Whatever model you invent, you will always lack the basic information to calibrate it for the instruments that present most of your liquidity risk. We call this the ‘liquidity risk paradox’.
StatPro’s software facilitates the selection of the appropriate liquidity risk scenario and the computation of the expected loss for liquidity risk. The view includes a breakdown of the liquidity risk loss across various components.
The user can select one scenario and build a ‘tree’ of criteria for breaking down the liquidity risk contribution at each hierarchy level, down to single asset composition. The risk manager can drill down through every component of liquidity risk, discovering how much is coming and from where, without any previous knowledge of the portfolio. This tool enables the risk manager to ‘X-ray’ the liquidity risk of the portfolio, spotting any challenging situations.
“We have solved the paradox of measuring market liquidity risk when trading volume and market price information is not available. As with all our risk analyses, liquidity risk can be run at single asset level, portfolio level, portfolio versus benchmark and as an aggregation of several portfolios. The latter option is critical to liquidity risk, as the percentage of ownership of one stock can be negligible when measured by portfolio, but can become relevant at ‘firm’ level,” concludes Cintioli.
For further information please contact:
Jeanine Leuckel, StatPro
Tel: 020 8410 8655
Email: jeanine.leuckel@statpro.com
Fabienne Pasquion, Ascension Consulting
Tel: 020 7100 6111 / 07984 119846
Email: fabienne@ascensionconsulting.co.uk
Notes to Editors
Dario Cintioli is available for interview upon request.
About StatPro
StatPro is a leading provider of portfolio analysis and asset valuation services for the global asset management industry. The company sells a SaaS-based analytics and data platform on a rental basis to investment management companies allowing them to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides an asset pricing service including a service to price complex assets and valuation feeds.
For more information on StatPro, please visit our website at http://www.statpro.com
20 Oct 10 First ever QuantLib Forum to take place in November
StatPro Group, a global provider of portfolio analysis and asset valuation services for investment professionals, today announces that it will host a free-to-attend forum for quantitative analysts in London on 3 November 2010, in cooperation with open source organisation QuantLib.
The forum, which celebrates QuantLib’s ten-year anniversary, will present speeches by the QuantLib founders and offer networking opportunities for attendees.
QuantLib is the most widely used open source pricing library in the world. Its popularity stems from its quality content and a grassroots active participation by leading quants, many of whom work for some of the largest investment banks in the world. Whilst originally quants were mainly involved in risk management and derivatives pricing, the meaning of the term has expanded over time and now includes almost all individuals involved in financial mathematics.
QuantLib was founded in 2000 by Dario Cintioli (now global head of Risk at StatPro), Ferdinando Ametrano, Luigi Ballabio, Adolfo Benin and Marco Marchioro at Riskmap, now StatPro Italia. Experienced in writing option pricing codes, the five colleagues thought it would make a lot of sense to create an open source and standardised basic toolkit for quants, which could be used, maintained and updated by peer quants. Ten years on and without having been advertised commercially, QuantLib was downloaded more than 50,000 times over the last three years.
The forum is open to the public and free of charge. For more information and registration please visit: http://www.statpro.com/quantlib_forum.aspx
For further information please contact:
Jeanine Leuckel, StatPro
Tel: 020 8410 8655
Email: jeanine.leuckel@statpro.com
Fabienne Pasquion, Ascension Consulting
Tel: 020 7100 6111 / 07984 119846
Email: fabienne@ascensionconsulting.co.uk
Notes to Editors
Dario Cintioli is available for interview upon request.
About StatPro
StatPro is a leading provider of portfolio analysis and asset valuation services for the global asset management industry. The company sells a SaaS-based analytics and data platform on a rental basis to investment management companies allowing them to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides market data and valuation feeds including a Complex Asset Pricing service.
For more information visit http://www.statpro.com
Tags: Asset Valuation, derivatives pricing, Portfolio Analysis
