Fourth Quarter Trading Update

Record

25/04/2025 07:00

RNS Number : 1182G

Record PLC

25 April 2025

 

25 April 2025

RECORD PLC

FOURTH QUARTER TRADING UPDATE

 

Record plc ("Record" or the "Group"), the specialist currency and asset manager, is pleased to announce its trading update for the three months ended 31 March 2025 ("Q4-2025").

 

Jan Witte, CEO of Record plc, commented:

 

"Our core risk management services continue to deliver great outcomes for our clients. AuM remained high with modest outflows and asset movements offset by positive changes in exchange rates. In addition, we recognised another £0.3m of performance fees to bring the total for the year to £3.2m. Our expectations for full year revenues are unchanged.

 

Currency volatility has been especially high in the first weeks of April and we continue working closely with our clients to manage their hedging programs and ensure they remain well protected.

 

Looking forward, I am confident that Record is very well positioned: we offer best-in-class risk management solutions at a time of uncertainty, we have a strong balance sheet, and, since we operate an agency model, we take no market or counterparty credit risk ourselves."

 

Highlights

 

·    AUM increased $0.4 billion to US$100.9 billion with positive changes in exchange rates partially offset by modest outflows and underlying market movements.

·    Performance fees of £0.3m crystalised in Q4, bringing performance fees for the full year to £3.2m.

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

 

AUM composition

 

The Group's AUM as at 31 March 2025 totalled US$100.9 billion (31 December 2024: US$100.5 billion).

 

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

 

US$ billion
31 December 2024
Net flows
FX movements
Asset movements
31
March
2025
Dynamic Hedging
14.9
0.4
0.0
0.6
15.9
Passive Hedging
64.8
0.0
1.7
(1.4)
65.1
Hedging for Asset Managers
12.8
1.2
0.3
0.0
14.3
FX Alpha
5.4
(2.2)
0.1
(0.3)
3.0
EM Debt
1.0
(0.1)
0.0
0.1
1.0
Custom Solutions
1.4
0.0
0.0
0.0
1.4
Cash & Futures / other
0.2
0.0
0.0
0.0
0.2
Total
100.5
(0.7)
2.1
(1.0)
100.9

 

Record will announce its results for the 12 months ended March 31st on 20 June 2025.

 

-Ends -

 

For further information, please contact:

 

Record plc
Dr Jan Witte, Chief Executive Officer
Richard Heading, Chief Financial Officer
investorrelations@recordfg.com
Panmure Liberum
Atholl Tweedie
David Watkins
Tel:+44 (0)20 7886 2500

 

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