StatPro optimistic about SA’s long-term prospects

StatPro Group PLC (“StatPro”, “the Group”, AIM: SOG), the AIM listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry is stepping up its South African presence, despite prevailing market concerns and downscaling by some international businesses operating in the country.

UK-headquartered StatPro and its wholly owned subsidiary, Infovest Consulting (Pty) Ltd, are set to move to larger, shared premises early next year as the company gears up to meet growing local demand for their advanced data and financial services solutions.

Craig Arenhold, CEO of both StatPro South Africa and Infovest, says the two companies will retain their individual identities, but will collectively offer clients a deeper level of support and service.

“The acquisition of Infovest, which was concluded early this year, aligns what is in effect a data management and compliance business – Infovest – with StatPro’s portfolio performance, attribution and risk solution. The strength of our proposition is that we are able to offer clients data rationalisation and an efficient data model. Essentially, we can help financial services organisations to do business better,” he says.

Arenhold says StatPro is seeing strong growth in interest in its new cloud-based portfolio analysis software, Revolution, which is expected to further support the company’s growth in South Africa. In addition to the two companies’ advanced solutions, they are winning the support of local financial services firms through their support levels and the fact that they price contracts in Rand.

StatPro and Infovest together now have a combined team topping 70 specialist resources, and there is room for further growth at the new 1 100m2 shared premises at Riverpark in Mowbray, Cape Town.

While many foreign investors may be cautious about South Africa’s growth prospects at this stage, Arenhold believes South Africa could be set for growth in the medium term: “We’re cautiously optimistic. South Africa already has increasing levels of transparency in terms of the economy and the management of fraud and corruption, so it may take a bit of time, but we believe things will get better.”

“We have many long-dated contracts in place with our loyal customers, and we are illustrating our commitment to them and our faith in the local economy by investing in growth,” Arenhold says.

About StatPro

StatPro is a global provider of award-winning portfolio analytics solutions for the investment community. The Group’s cloud-based platform provides vital analysis of portfolio performance, attribution, risk and compliance. This multi-asset class analytics platform helps StatPro’s clients increase assets under management, improve client service, meet tough regulations and reduce costs. Supporting over 500 clients in 39 countries out of its 11 offices around the world and has recurring revenues of around ZAR 1.0 billion.

About Infovest

Infovest Consulting (Pty) Ltd is part of the StatPro Group of Companies, and is a leading provider of investment data management, compliance, regulatory and client reporting solutions. Infovest’s suite of products encompasses post trade compliance, Investment Data Management, client reporting, and regulatory reporting solutions for today’s investment companies.  Infovest has offices in Boston, Cape Town and London.