Fund administrator Apex Fund Services is offering StatPro’s Revolution platform to its fund manager clients, allowing them to send fund performance analytics to underlying customers via cloud-based technology, for the first time.
The portfolio anayltics and reporting platform has implemented 10 fund administration and custody clients since launch in March 2011, allowing these clients to whitelabel StatPro technology within their own systemThe platform, which charges $100 per portfolio per month for portfolio analytics and performance attribution, helps the fund administrator and custodian to reduce their costs and provide greater transparency for investors.
Fund administrators represent a key market for StatPro as they can act as distributors of the StatPro Revolution service. Through our platform, clients are able to leaverage the portfolio attribution and performance measurement of other asset managers’ fund portfolios, says marketing and technology director Neil Smyth. “The cloud computing is free, the administrators do not have to build the traditional software and they can get value out of the product as a portfolio aggregator,” he says.
Other StatPro Revolution clients include RBC Dexia and State Street.
The service is now supporting over 100 market participants, ranging from small fund managers with assets under custody of $20 million up to large custodian banks with over $10 trillion assets under custody, located across North and South America, Africa, Asia, Australia, Europe and the Middle East.
Justin Wheatley, group chief exceutive, StatPro, said, This is the first time that fund administrators have been able to deliver fund performance analytics to their customers using cloud technology. Asset management users are already experiencing improved communications with end-investors and this is proving extremely valuable, particularly in an environment which demands increased transparency to help comply with regulations, as well as performance measurement.
Apex has grown by 185% since 2009 and is continueing growth strategy with the opening of its second US office in Miami, Florida. The office will be headed by US managing director Vince Sarullo, who also also manages its New Jersey office. Thalius Hecksher, global head of Business Development, who will spearhead Apexs Latin American and US marketing activity.The Miami office already services funds in the Florida region where lower tax rates and other lifestyle incentives are fueling the rapid growth of the fund market in the Southern states.
Peter Hughes, group managing director, Apex Fund Services, said: “Miamis status as a leading location for US fund managers continues to rise and Apex is committed to supporting the US based fund managers locally.In addition, with Miamis Meeting of the Americas role, the new office will also be an important strategic gateway for Apex to the Latin American markets.”
(JDC)