StatPro Group, the provider of portfolio analytics and asset valuation services for the global asset management industry, is to launch StatPro Revolution, its cloud-based portfolio analysis platform for asset and wealth managers, at the Tate Modern in London on 18 May 2011.

StatPro Revolution aims to offer performance, attribution, risk management and reporting for portfolio managers. The firm said it was designed with the aim of answering the industry’s priorities - improving communication, transparency and portfolio analysis distribution, while cutting costs.

“Because it is cloud-based, it is sold at a fraction of the price of traditional analytics solutions - $100 per portfolio per month, for 100 users and unlimited report generation,” the statement said.

“Our vision for StatPro Revolution was ‘analytics for the people’ - to make a service that costs hundreds of thousands of dollars available to even the smallest asset manager. We are now incredibly excited to launch StatPro Revolution after a very successful nine-month beta period... This is the beginning of a new era in the analytics industry,” said Justin Wheatley, chief executive of StatPro Group.

The new front office system is to be unveiled in co-operation with Cenkos Securities, a securities firm focused on UK small and mid-cap companies. Those attending will be offered demonstrations and free 30-day trials, the firm said in a statement.