Momentum Investments, one of South Africa's largest investment managers, has chosen StatPro Group's cloud-based service, StatPro Revolution, for the distribution of fund performance analysis to new and existing customers.
Momentum Investments, which has more than R272 billion ($32 billion) in assets under management, is an existing user of StatPro's portfolio analytics and research services, StatPro Seven. The asset manager will now use StatPro Revolution to communicate the analysis.
Momentum Investments is currently one of the largest users of the StatPro Revolution service, according to a press statement.
Stanley Kumalo, chief integration officer at Momentum Investments, says: "StatPro Revolution is truly ground-breaking in that it is a comprehensive cloud-based portfolio analytics solution bringing substantial benefits to our business as a whole. StatPro Revolution provides us with centralized control and management, and limitless distribution capabilities across all spheres of our business, thereby ensuring that our analytics data is available dynamically to all those business functions that require it."
Marc Zandt, chief executive officer, StatPro South Africa, comments: "Our cloud-based platform enables Momentum Investments to have access to a market-leading service at a compelling price."
Stanley agrees: "This service not only enables asset managers to reduce costs, but increase assets under management too."
This is the latest in a series of recent wins for StatPro Revolution since its launch in 2011.
Justin Wheatley, group chief executive, StatPro, adds: "We are very pleased to have Momentum Investments using StatPro Revolution alongside StatPro Seven. StatPro Revolution has been well received in the South Africa market and globally due to its accessible price point, robust analytics, exceptional reporting capabilities, and technological flexibility."