StatPro Group, a leading provider of portfolio analytics and data solutions for the global asset management industry, announces that it has signed a three-year deal with leading global asset management group Nomura Asset Management Co., Ltd. (Nomura AM) for its hosted GIPS compliance platform.
Nomura AM will be using StatPro Composites, a multi-currency and portfolio reporting solution, which provides a full platform for achieving and maintaining compliance with the Global Investment Performance Standards (GIPS). GIPS are ethical standards for the fair representation and full disclosure of an asset management firm's performance track record.
Nomura AM has reached a decision to adopt the StatPro platform, which will give their GIPS compliance team control over the audit and verification process, help to maintain composites, and reduce implementation and administration costs. Using StatPro will enable Nomura AM to achieve global GIPS consistency in 2010 and the SaaS model will help them to achieve efficiency gains in terms of IT hardware and software maintenance costs.
StatPro will be implementing StatPro Composites at Nomura AM's Tokyo, Singapore, Hong Kong, Kuala Lumpur, London and New York offices.
"StatPro Composites is able to both handle multi-currency and multi-lingual requirements. It also offers support across the global time zones - these were important factors for us," says Kiyoshi Matsumoto, Managing Director, at Nomura AM.
"We are delighted that Nomura AM chose StatPro Composites. This global deal will help reinforce our position as the global GIPS management software leader and open new opportunities for us, especially in Asia," says Justin Wheatley, StatPro CEO.