StatPro adds market indexes to portfolio management system

Customers will now have direct access through, StatPro Revolution, to daily index data, free of charge, for portfolio perfomance measurement and benchmarking. The Freedom Index Company provides StatPro Revolution daily index data at total level and constituent level, as well as weights and returns (market capitalisation weighted and local, hedged and base currency returns) down to security level.

Justin Wheatley, Group CEO, StatPro states, "Some index data has become extremely expensive, especially for the top brands. This in turn makes it very expensive for asset managers to produce performance reports for their clients and to demonstrate their management competence versus the market neutral performance. We welcome the Freedom Index initiative which seeks to brand, independent, transparent and free indexes for the whole asset management community to use in their performance measurement reports to clients. Although smaller asset managers will benefit most, even larger asset managers are pleased that such an alternative exists to the top brands of indexes. The combination of being able to buy analysis by the portfolio from StatPro Revolution and procure index data for free with the Freedom Indexes means that any asset manager can now afford the highest quality client reporting."

Anthony Howland, from the Freedom Index Company says, "We are delighted to be partnering with StatPro Revolution and to be part of their comprehensive service enabling cost effective portfolio analysis and reporting. Our objective is to provide free, open and independent indexes. Indexes are just a market barometer. We're not introducing intellectual capital here. We're introducing data, making it available and encouraging asset managers to design their own indexes."

The Freedom Index Company provides basic starter indexes for free via its website, and also encouragesthe asset management community to produce their own indexes for publishing back to the Freedom Index website for others to use. An independent index committee approves each index.