StatPro Group

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StatPro Group Plc
Type Public (LSE: SOG)
Founded 1994
Headquarters Wimbledon, London
Key people Justin Wheatley,
Chief Executive
Carl Bacon,
Chairman
Industry Finance Software Consultancy
Products Asset Management Software
Net income £18.8 million GBP(2007)[1]
Employees 250[2]
Website StatPro.com

StatPro Group Plc is a provider of data services and portfolio analytics solutions for the global asset management industry. Set up in 1994 by Chief Executive Justin Wheatley, the company's investment products stem from specialisation in data and software solutions for risk management (SRM), fixed income analysis (SFI), performance measurement and attribution analysis (SPA), GIPS compliance (SC) and enterprise reporting (SER).[3][4][5] StatPro Chairman Carl Bacon, appointed in 2000, was a co-founder of GIPS.

In May 2000, founder Justin Wheatley took StatPro to IPO, raising over £5 million. Just over three years later, on June 16 2003, the company transferred to the Alternative Investment Market (AIM),[6] a 'leading stock market for young, growing companies'.[7]

StatPro's client base includes approximately four hundred client contracts in twenty-five countries. The company has eleven offices internationally, having grown rapidly in recent years. Since 1999, recurring annualised revenue has increased from less than £1 million to £18.8 million in 2007.

Contents

[edit] International offices

StatPro has eleven offices worldwide.[8]

  • StatPro Ltd. (UK)
  • StatPro France S.A.
  • StatPro Benelux S.A. (Luxembourg)
  • StatPro Italia Srl
    • StatPro Italia Udine
  • StatPro (Deutschland) GmbH (Germany)
  • StatPro Inc. (NY, USA)
  • StatPro Inc. (WA, USA)
  • StatPro Canada Inc. (Toronto)
  • StatPro Canada Inc. (Montreal)
  • StatPro South Africa (Pty) Ltd.
  • StatPro Australia Pty Ltd.

[edit] Products

StatPro offers a core product suite that includes award-winning[9] analytics tools StatPro Performance & Attribution (SPA) and StatPro Fixed Income (SFI). Other products include StatPro Risk Management (SRM) and StatPro Composites (SC).[10]

[edit] Data services

StatPro Data Services (SDS) was released post StatPro's acquisition of data vendor FRI Corporation, a leading provider of bond data and bond pricing services as well as the instigating publisher of the Canadian Government Bond Register (see below). SDS as a product provides pricing, terms & conditions and reference data across all asset-types from all markets. It offers price confirmations, prices challenges and research on particular events.

Commenting on the acquisition of FRI, StatPro Chief Executive Justin Wheatley said, "The Acquisition significantly strengthens the Company’s position in the North American market and creates a number of cross-selling opportunities to our clients. FRI is one of the leading sources of bond data and the Acquisition will enable the Company to provide a total solution for our clients. The Acquisition continues our stated strategy to grow by acquiring new products and investing in such products for growth, rather than developing products from inception. Furthermore, we are delighted with the success of the Placing and we welcome our new institutional shareholders and thank our existing shareholders for their continued support."[11]

[edit] Awards

[edit] Investors In People (IiP) 2007

In December 2007, StatPro was re-awarded Investors in People status, continuing the uninterrupted run of success from the first application in 2001.

[edit] Buy-Side Technology Awards 2007

November 2007 saw the recognition of product StatPro Performance Attribution (with SPA and SFI combined in the product suite) as the benchmark in performance attribution analytics software in the inaugural year of the Buy-Side Technology Awards (BSTAs).[12][13]

The acknowledgement of SPA as a cutting-edge performance and attribution solution was on the basis of the calculation of returns for portfolios (benchmarks and composites); calculation of attribution effects for equity and fixed-income portfolios; and calculation of ex-post, absolute and relative risk[13], and commenting on the award, StatPro CEO Justin Wheatley said,

“ We’re extremely pleased to receive this award. StatPro continuously challenges itself to develop the most advanced, integrated software solutions available. For SPA v5.0 to be recognized as the leading solution for buy-side firms pays great tribute to the work done by our Research & Development team. ”

[edit] Queen's Award for Enterprise

In April 2006, StatPro announced that it had been awarded a Queen's Award for Enterprise in the International Trade category. This was recognising the company's sustained international growth during the previous six years, during which time revenue from overseas had increased seven times over. StatPro's Products received the prestigious accolade in acknowledgement of its efforts to meet the requirements of internationally standardised front office and middle office systems.

On receiving the award, CEO Justin Wheatley commented, "We are very pleased and honoured to receive this most prestigious award. It recognises the skill and commitment of our employees, which coupled with a focused strategy for growth in overseas markets, has enabled us to deliver excellent services to our clients globally."[14]

[edit] Spaulding Survey 2006

The Spaulding Group Survey 2006 placed StatPro's products in first place for three out of the four categories. StatPro Performance and Attribution (SPA) came top in both the Equity Performance Measurement and Portfolio-Level Performance Measurement categories. StatPro Composites (SC) came first in the Composite-Level Performance category, and StatPro Risk Management (SRM) reached the top five of the Risk Management section.

[edit] StatPro Research

As part of StatPro's ongoing research aims, experts within the company continue to publish various practical and specialist industry articles, books and white papers.

[edit] Advanced Portfolio Attribution Analysis

Another highly specialist text from respected industry voice Carl Bacon, with other contributors including Andrew Colin, Frederic Bardoux, Didier Cabon and Mathieu Cubilie, this important resource is subtitled New approaches to Return and Risk and has been hailed as "the only book specifically focused on performance attribution".[15]

[edit] Canadian Government Bond Register

Published in 2007, this Register was compiled in order to provide a valuable research and reference aid. It includes details and analysis of all debt issued by the Canadian federal and provincial governments and their agencies. Following the takeover of Canadian company FRI Corporation, provider of the only complete Canadian Bond database, this text was relaunched.[16]

[edit] A Statistical Activity Cost Analysis

"A Statistical Activity Cost Analysis of the Relationship between Physical and Financial Aspects of Fixed Assets" was published during the World Congress on Engineering Asset Management 2006 that took place on the Gold Coast of Australia. The primary author was StatPro Fixed Income Research Director Dr Andrew Colin. To read this technical paper in full, click here

[edit] Fixed Income Attribution

Before this book was published in 2005, there was very little information available on this complex and mathematical topic. A comprehensive, theoretical and practical text written by Dr Andrew Colin, it discusses a wide range of issues surrounding attribution, the practical limitations of its calculation and the various systems designed to aid the calculation. It includes useful examples and advice for industry practitioners.[17]

[edit] Portfolio Analysis

"Portfolio Analysis: Advanced topics in performance measurement, risk and attribution" brings together a comprehensive list of experts from the Performance Measurement, Risk and Attribution fields. Contributors from StatPro are Carl Bacon, Dr Andrew Colin and Laurence Wormald.

For more information, and a full list of contributors, see the book's page.

[edit] Practical Portfolio Performance Measurement and Attribution

Written by Chairman Carl Bacon and published in 2004, the book is an accessible, practical guide and introduction to performance measurement, rather than an academic dissertation. As such it has been found an appropriate reference tool for industry practitioners and users alike.[18]

[edit] Social Contribution

[edit] The Durbanville Schools Foundation

With an office based in South Africa, StatPro decided to become a patron of The Durbanville Schools Foundation. The Patrons Project was established in September 2004, aiming to secure a steady, long-term source of funding for the Foundation's projects. In the announcement of patronage, immediate priorities were stated to include:

  • Refurbishing of existing facilities
  • Funding additional governing body teaching posts
  • Creating recreational facilities
  • Funding of bursaries for talented children to go to High School

StatPro South Africa Managing Director Andrew Peddar commented, "The Durbanville Schools Foundation Patrons Project represents a worthy cause that StatPro South Africa is proud to commit its support to. We look forward to working with the Foundation in their mission to promote a higher quality of education and schooling in the greater Durbanville area."[19]

[edit] UK Studentship Scheme

In the UK, StatPro launched a Studentship Scheme in conjunction with the Centre for Computational Finance and Economic Agents (CCFEA), University of Essex in 2006. The partnership was established with the aim of encouraging relationships between the academic establishment and the relevant industry leader.

The StatPro Studentship comprises a £4 000 bursary towards the attainment of an MSc in Computational Finance, as well as an internship in StatPro's head office based in London.[20]

[edit] References

  1. ^ StatPro Q3 Trading Update Press Release @ FT.com. Retrieved on October 19, 2007.
  2. ^ About Us @ StatPro.com. Retrieved on September 10, 2007.
  3. ^ Hassell, Nick (July 2007), “Data Error”, The Times, <http://www.timesonline.co.uk/tol/business/columnists/article2067183.ece> 
  4. ^ UK Stocks Fall, Paced by HSBC, Media Companies; Miners Climb, Bloomberg, February 20, 2006, <http://www.bloomberg.com/apps/news?pid=10000102&sid=ajXV7tPdBpdw&refer=uk> 
  5. ^ StatPro buys 51% stake in RiskMap, Finextra Research, 06 October 2003, <http://www.finextra.com/fullstory.asp?id=10129> 
  6. ^ StatPro Company Information from the London Stock Exchange. Retrieved on January 15, 2008.
  7. ^ Joint Press Release from London School of Economics & Political Science (LSE) and the London Stock Exchange. Retrieved on January 15, 2008.
  8. ^ Corporate Overview @ StatPro.com. Retrieved on November 6, 2007.
  9. ^ Buy-Side Technology Awards Press Release @ StatPro.com. Retrieved on November 6, 2007.
  10. ^ StatPro Client Solutions. Retrieved on November 6, 2007.
  11. ^ Proposed FRI Acquisition Press Release. Retrieved on September 22, 2007.
  12. ^ Buy-Side Technology Awards Press Release @ StatPro.com. Retrieved on November 6, 2007.
  13. ^ a b Buy-Side Technology Awards 2007 website. Retrieved on November 5, 2007.
  14. ^ StatPro Queen's Award Press Release. Retrieved on September 15, 2007.
  15. ^ Advanced Portfolio Attribution Analysis @ RiskBooks.com. Retrieved on January 9, 2008.
  16. ^ Canadian Government Bond Register PDF. Retrieved on September 16, 2007.
  17. ^ Wiley & Sons Publishers. Retrieved on September 15, 2007.
  18. ^ Wiley & Sons Publishers. Retrieved on September 17, 2007.
  19. ^ Durbanville Schools Press Release. Retrieved on September 15, 2007.
  20. ^ StatPro Launches Studentship Scheme Press Release. Retrieved on September 17, 2007.

[edit] External links