Broadridge teams up StatPro to offer comprehensive Performance Analytics

Maria Nikolova

The strategic partnership with StatPro provides comprehensive analytics for alternative and traditional asset managers.

Fintech expert Broadridge Financial Solutions, Inc. (NYSE:BR) has teamed up with StatPro Group PLC (LON:SOG), a provider of cloud-based portfolio analytics and asset pricing services. The partnership, announced earlier today, aims to enhance the existing Broadridge Performance Reporting platform, which enables clients to receive customized daily performance calculations.

The strategic partnership with StatPro provides comprehensive analytics for alternative and traditional asset managers seeking to meet an increased demand for performance measurement, attribution and risk analytics. StatPro’s cloud-based performance and risk platform is set to streamline the analytics process through automating the upload of client portfolio data into the system, triggering performance calculations instantaneously and making results available for download to Broadridge’s data warehouse to support the investment process and client reporting.

“As Broadridge expands its investment management capabilities for its growing base of asset management clients, we are investing in partnerships that we believe will provide the analytics and tools our client base requires,” said Eric Bernstein, head of Broadridge’s asset management solutions. “With its connections to index data providers and aggregators, StatPro will help provide data we believe will add significant value to our clients. Our shared goal is to save time for asset managers so they can focus on generating returns and serving their clients.”

The transition to StatPro is currently in progress for existing Broadridge performance clients and is set to be completed by the end of 2018.

Cloud-based technology is being increasingly adopted by the financial services industry. In May this year, Japanese financial services giant Mizuho Financial Group, Inc. (TYO:8411) said it was planning to develop a market risk management system that will incorporate calculation logic capable of supporting sophisticated risk management. The system will utilize AWS’s cloud services.

The rationale for such a transition includes the ability to utilize a computing environment where servers can be procured flexibly depending on the number of calculations. Cloud services are also set to enable Mizuho to procure the system resources necessary for large-scale calculations in a timely and appropriate manner as well as reduce future costs by avoiding extensive infrastructure investment. The bank will also be capable of responding flexibly to future tightening of regulations and transaction volume fluctuations by securing flexibility in procuring servers.

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