AIM-listed UK software firm StatPro has acquired Delve, a supplier of enterprise and web reporting solutions to fund managers. This is in line with its strategy to develop a collection of portfolio analytics applications for the fund management industry.
Reporting of performance and risk is now an essential part of the interaction between a fund manager and its clients, says StatPro. “There is a competitive advantage to having excellent reporting which allows clients to drill down to obtain detailed, accurate and timely information in an efficient and reliable way,” says a company spokesman. “Since early 2004, we have been working closely with Delve to market their reporting solutions as part of our client offerings. We anticipate sales interest from both our existing client base and from other portfolio managers globally as they continuously seek to improve their portfolio performance and risk reporting.”
Delve’s product, now named StatPro Enterprise Reports (SER), is an enterprise-wide reporting application that enables users to automate the production of fact sheets, client valuation statements, marketing presentations and emails, and online fund reporting.
“I have now been working with the team at StatPro for around two years and I was pleased with the collaboration which resulted in signing our first joint client last year,” says Jonty Hurwitz, Managing Director of Delve and an expert in internet-based reporting solutions. “The team at StatPro are focussed on developing good client relationships and I look forward to working as part of the StatPro team.”
Justin Wheatley, Chief Executive of StatPro Group, says he has seen demand amongst fund managers to improve client reporting. “Delve has some of the most sophisticated technology to meet this demand,” he says. “Combined with StatPro’s growing client base and wide distribution, we are confident that the acquisition of Delve will be a success and earnings enhancing.”