StatPro Group plc, (“StatPro”, “the Group”, AIM: SOG) has signed a three-year contract extension with FundBPO for StatPro Revolution, including a portfolio usage increase and an extension of consulting.
FundBPO Pty Ltd (FundBPO), one of Australia’s independent fund administrators, provides fund administration services to more than 630 managed funds, administering more than AUD$114 billion of funds globally.
As FundBPO is experiencing growth in demand for its middle office services, it is looking for a solution to meet its growing performance measurement and risk analytics needs. With a long-standing relationship with StatPro, FundBPO selected the Revolution platform to improve their systems as they continue to invest in technology, providing their clients with a better experience.
Martin Smith, FundBPO Chief Executive Officer, commented: “Our business is built on strong operational processes and technology platforms and we partner with specialist vendors such as StatPro to develop the applications we need to support our operations. Revolution’s performance and risk reporting helps us create an optimal operating and reporting environment for our clients and their investors.”
Justin Wheatley, StatProGroup CEO, commented: “We have worked with FundBPO for many years and seen their tremendous growth. FundBPO is now in a position to adopt StatPro Revolution, which is fast becoming the de facto solution for fund administrators. This enables reduced turnaround time to clients by using StatPro’s highly scalable performance and risk service.
“As asset managers increasingly look to outsource their routine processes due to regulation and cost pressures, they will gravitate towards those fund administrators that have invested in the best technology, which provides a service that asset managers cannot match.”