StatPro, a leading provider of portfolio analytics and data solutions for the global asset management industry, announced today that Federated Investors, Inc., has chosen the hosted version of StatPro Composites to support its Global Investment Performance Standards (GIPS) compliance and reporting requirements.
The agreement, which extends an existing relationship that has been in place since 2002, represents an important shift from an installed software solution to StatPro's recently rolled-out Software-as-a-Service (SaaS) platform. The new SaaS model offers StatPro customers a simpler and more cost-effective approach for using StatPro's technologies.
"Through StatPro's SaaS model, we can effectively manage the cost of GIPS compliance while ensuring improved ongoing performance reporting that ultimately contributes to excellent service for our customers," said Federated Investors' Manager of Client Administration, Sandy Kulig.
One of the world's largest investment management firms, with more than $401.8 billion in assets under management; Federated has used StatPro's software for the better part of a decade. The hosted Composites platform answered its specific needs for high-performance, GIPS reporting requirements.
"We are delighted to extend our relationship with Federated through the hosted StatPro Composites solution," said StatPro North America CEO Mark Bramley. "In today's asset management market, delivering value while meeting compliance requirements is more important than ever, and we are pleased to help Federated maintain its GIPS compliance status through this technology platform."