New strategic partnership enables Broadridge to better serve institutional asset management and alternatives clients
LAKE SUCCESS, N.Y. – Broadridge Financial Solutions, Inc. (NYSE:BR), a global fintech leader, today announced a new strategic partnership with StatPro Group, the leading provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry.
This partnership enhances the existing Broadridge Performance Reporting platform, which allows clients to receive customized daily performance calculations and is another example of how Broadridge is delivering real business value through technology-driven solutions.
The strategic partnership with StatPro provides comprehensive analytics for alternative and traditional asset managers working to meet an increased demand for performance measurement, attribution and risk analytics. StatPro’s cloud-based performance and risk platform will streamline the analytics process through automating the upload of client portfolio data into the system, triggering performance calculations instantaneously and making results available for download to Broadridge’s data warehouse to support the investment process and client reporting.
“As Broadridge expands its investment management capabilities for its growing base of asset management clients, we are investing in partnerships that we believe will provide the analytics and tools our client base requires,” said Eric Bernstein, head of Broadridge’s asset management solutions. “With its connections to index data providers and aggregators, StatPro will help provide data we believe will add significant value to our clients. Our shared goal is to save time for asset managers so they can focus on generating returns and serving their clients.”
“StatPro firmly believes that as the asset management industry matures and competition intensifies, asset managers will turn to the best platform providers for comprehensive services,” said Justin Wheatley, CEO at StatPro. “Broadridge has proved itself to be a leading provider in this market and we are proud to partner with them to provide their clients with our full range of portfolio analytics ranging from performance measurement to risk management tools, including complex fixed income analysis using StatPro Revolution: our super-scalable cloud-based portfolio analytics platform.”
The transition to StatPro is already in progress for existing Broadridge performance clients and is expected to be completed by the end of 2018.