REG - Record PLC - First Quarter Trading Update

RecordAnnouncement

25/07/2025 07:00

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RNS Number : 5037S  Record PLC  25 July 2025

25 July 2025

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 2025 ("Q1-2026").

 

Jan Witte, CEO of Record plc commented:

 

"AUM continued to grow to US$107.9 billion at the end of the first quarter.
 We saw strong new investment into core Risk Management products including a
further 7.6% uplift in Hedging for Asset Managers and benefited from a
positive FX movement. We also generated £0.4 million in performance fees,
lower than a very strong first quarter last year, but nevertheless, a good
start. Our current year outlook remains highly dependent on the closing of
large, complex deals in the pipeline but we maintain our expectation of
revenue growth in low single digits and EPS flat."

 

Highlights

 

·   AUM increased $7.0bn to US$107.9 billion with positive foreign exchange
movements partially offset by underlying market movements.

·    Net flows were neutral as strong inflows in core Risk Management
products, were offset by outflows in Absolute Return as a previously
highlighted wind-down of an FX Alpha mandate, which started in Q4 FY25, was
completed.

·     Performance fees of £0.4m crystalised in Q1 (Q1 2025: £1.6m; Q1
2024: £0.5m).

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

 

AUM composition

 

The Group's AUM as at 30 June 2025 totalled US$107.9 billion (31
March 2025: US$100.9 billion).

 

The composition of and changes in AUM by product were as follows:

 

 

                               31     Net          Flow           Asset movement  FX  Movement   30
  US$ billion                  March                              June
                               2025                               2025
  Passive Hedging              65.1   1.3                         -2.1            6.9            71.2
  Dynamic Hedging              16.0   -0.1                        1.4             0.0            17.3
  Hedging for Asset Managers   14.3   1.1                         0.1             0.6            16.2
  Risk Management              95.4   2.4                         -0.6            7.6            104.7
  FX Alpha                     3.0    -1.9                        0.1             0.0            1.3
  Custom Opportunities         1.4    -0.5                        -0.2            0.0            0.7
  Other                        0.1    0.0                         0.1             0.0            0.2
  Absolute Return              4.5    -2.4                        0.0             0.1            2.2
  EM Local Debt                1.0    0.0                         0.0             0.0            1.0
  Private Markets              1.0    0.0                         0.0             0.0            1.0
  Total                        100.9  0.0                         -0.6            7.6            107.9

 

 

 

-Ends -

 

 

 

 

 

  For further information, please contact:

 

 Record plc

 Dr. Jan Witte, Chief Executive Officer     investorrelations@recordfg.com

 Richard Heading, Chief Financial Officer

  Panmure Liberum                           Tel: +44 (0) 20 7886 2500

  Atholl Tweedie

  David Watkins

 

LEI number: 5493000VJ55ZTYGX4322

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