UK data analytics firm, StatPro, has teamed up with dual-jurisdiction institutional financial education and performance risk provider, Dynamique, to launch its cloud-based portfolio-reporting platform in New Zealand.
Guy Dobson, head of the Anglo-Kiwi firm Dynamique, said the StatPro ‘Revolution’ service offered NZ managers access to “state-of-the art portfolio valuation, reporting, attribution, and risk analytics”.
Dobson said the Revolution platform was designed to help managers improve client service and sales as well as comply with increasingly tough regulatory reporting duties.
“We are delighted to be working with StatPro which has an excellent reputation in performance measurement and risk analytics in global markets,” he said in a statement. “The firm has a unique community culture which inspires creative and resolution excellence servicing an industry which is under more and more pressure from, clients requesting lower fees and better risk adjusted performance, and from regulators demanding greater transparency over reporting, ethics, true portfolio costs and real after fee disclosure.”
According to Dobson, the StatPro Revolution platform – which stakes a claim as the first cloud-based portfolio analytical service – comes to NZ at a time when some managers are still using spreadsheets to analyse performance and risk data despite having sophisticated core systems.
“This is rather like firms still using faxes to transmit trade instructions and confirmations: still an issue with over-the-counter transactions, and fraught with operational risk,” he said.
Greg Howell, StatPro Australia managing director, said the agreement with Dynamique would fast-track its “understanding of the New Zealand domestic wholesale market”.
“We look to New Zealand as another great opportunity where we can help the larger firms in size of assets under management and portfolio volumes deliver outstanding reporting and analytics for their clients to keep them at the forefront of contemporary client servicing,” Howell said in the statement.
StatPro, which has won a number of technology awards, boasts about 500 clients across almost 40 countries including the National Australia Bank and well-known UK fund manager J O Hambro Capital Management.
In February this year, StatPro also signed on global custodian giant, Northern Trust – which provides custody to the NZ Superannuation Fund – as a Revolution client.
At the time, Ian Castledine, Northern Trust global head of investment risk and analytical services product management, said the Revolution platform would help the firm “better support the increasing risk-based regulatory demands our clients face”.