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AIM-listed portfolio and asset analytics firm StatPro (LON:STAT) has seen its share price climb by 5.51% to 134p (as of 8:30 BST) after it announced a partnership with J.P. Morgan. StatPro will work with the bank’s Data and Analytics business to develop Risk and Performance Attribution tools for portfolio managers. The deal has an initial term of five years and none of the financial details of the partnership were revealed.
Group CEO Justin Wheatley commented: “This partnership is another demonstration of our widening capabilities, market position and routes to market. Our selection by J.P. Morgan is undoubtedly due to our advanced technology as well as our extensive and deep functionality.
“At a time when fee pressure and increasing regulation is squeezing margins for asset managers, we believe the combination of J.P. Morgan’s data and analytics capabilities and our award-winning cloud-based, Revolution platform, will offer J.P. Morgan’s clients a consolidated service platform that will give them a competitive advantage.
“We expect this partnership will be a significant contributor to our growth in the years to come“.