UK's Record gains on upbeat annual revenue expectations
24/01/2025 09:46
** Shares of British asset manager Record Plc RECL.L up
8.6% at 52 pence
** Record expects higher FY revenue than previously
forecasted due to increased fees from greater currency
volatility
** Co has delivered 1.3 mln pounds ($1.62 mln) performance
fees in Q3 trading period, exceeding our estimate for second
half of the year, analysts at Panmure Liberum say
** Posts AUM of $100.5 bln as at Dec. 31, 2024, vs $99.5 bln
a year ago
** Earning additional performance fees this quarter proves
Record can deliver value in various market situations, including
volatile ones, analysts at Panmure Liberum say
** Stock fell ~25% in 2024
($1 = 0.8061 pounds)
(Reporting by Ankita Bora in Bengaluru)
((Ankita.Bora@thomsonreuters.com))