REC.L

Record Plc
Record PLC - First Quarter Trading Update
26th July 2024, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 9078X
Record PLC
26 July 2024
 

26 July 2024

RECORD PLC

FIRST QUARTER TRADING UPDATE

 

Record plc ("Record", the "Company" or the "Group"), the specialist currency and asset manager, is pleased to announce its trading update for the three months ended 30 June 2024 ("Q1-2025").

 

Jan Witte, CEO of Record plc, commented:

 

"A solid start to the year with another quarter of strong performance fees and stable AUM as asset growth offset modest outflows. I remain confident that the renewed focus we have on a core suite of six product categories, where our offering and value-add is unique, positions us well for medium and long-term growth and we are continuing our work in this respect."

 

Highlights

 

·    AUM increased $0.5bn to US$102.7 billion

·    Strong asset value growth offset modest outflows

·    Performance fees of £1.6 million earned during the quarter

·    Average fee rates in the quarter remained broadly unchanged from the previous quarter

 

AUM composition

 

The Group's AUM as at 30 June 2024 totalled US$102.7 billion (31 March 2024: US$102.2 billion). The composition of AUM by product was as follows:

 

AUM - US$ billion


30 June 2024

31 March 2024

Dynamic Hedging

16.4

16.5

Passive Hedging

66.2

66.0

Hedging for Asset Managers

11.3

10.4

FX Alpha

5.0

4.5

EM Debt

1.1

1.0

Custom Solutions

2.5

3.7

Cash & Futures/other

0.2

0.1

Total

102.7

102.2

 

AUM Movement

 

Net client AUM movement in the three months to 30 June 2024 was as follows:

 

Net AUM movement - US$ billion


3 months to

30 June 2024

3 months to

31 March 2024

Dynamic Hedging

0.0

0.0

Passive Hedging

(0.3)

(1.9)

Hedging for Asset Managers

1.0

0.9

FX Alpha

(0.1)

0.1

EM Debt

0.1

0.0

Custom Solutions

(1.2)

0.8

Cash & Futures/other

0.0

0.0

Total net flows

(0.5)

(0.1)

FX movements and mandate volatility targeting

0.1

(4.2)

Movements in global stock and other markets

0.9

7.0

TOTAL AUME MOVEMENT

0.5

2.7

 

 

Record will announce its Q2 2025 trading update on 25 October 2024.

 

-Ends -

 

For further information, please contact:

 

Record plc

Dr Jan Witte, Chief Executive Officer

Richard Heading, Chief Finance Officer

 

+44 (0) 1753 852 222

Panmure Liberum

David Watkins

Atholl Tweedie

+44 (0)20 7886 2500

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTPPUPAMUPCGAA]]>
TwitterFacebookLinkedIn