REG - Record PLC - Second Quarter Trading Update

RecordAnnouncement

25/10/2024 07:00

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RNS Number : 5281J  Record PLC  25 October 2024

25 October 2024

RECORD PLC

SECOND 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 September 2024 ("Q2-2025").

 

Jan Witte, CEO of Record plc commented:

 

"The business has again demonstrated the strength of its unique range of
currency management products with another quarter of AUM growth. Performance
remains in line with expectations and I am confident about Record's
medium-term growth opportunities."

 

Highlights

 

·    AUM increased US$3.3 billion to US$106.0 billion with positive
foreign exchange movements offsetting modest outflows in dynamic and passive
hedging and the discontinuation of a custom interest rate swap portfolio.

·    No performance fees crystalised in Q2 2025. H1 2025 performance fees
were £1.6m slightly ahead of prior year (H1 2024: £1.5m)

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

 

AUM Composition

 

The Group's AUM as at 30 September 2024 totalled US$106.0 billion (30
June 2024: US$102.7 billion). The composition of and changes in AUM by
product were as follows:

 

 US$ billion                 30 June 2024   Net flows  FX movements  Asset movements  30 September 2024
 Dynamic Hedging             16.4           (0.7)      0.0           1.1              16.8
 Passive Hedging             66.2           (1.2)      4.1           (0.8)            68.3
 Hedging for Asset Managers  11.3           0.5        0.5           (0.1)            12.2
 FX Alpha                    5.0            0.8        0.2           0.0              6.0
 EM Debt                     1.1            0.0        0.0           0.0              1.1
 Custom Solutions            2.5            (1.1)      0.0           0.0              1.4
 Cash & Futures/other        0.2            0.0        0.0           0.0              0.2
 Total                       102.7          (1.7)      4.8           0.2              106.0

 

 

Record will announce its results for the 6 months ended September 30(th) on
November 15(th) 2024.

 

-Ends -

 

For further information, please contact:

 

 Record plc                               Tel: +44 (0) 1753 852 222

 Dr Jan Witte, Chief Executive Officer

 Richard Heading, Chief Finance Officer

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

 Atholl Tweedie

 David Watkins

 

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