New Liquid Municipal Loan Fund Launch

RNS Number : 5322Y

Record PLC

17 January 2022

 

17 January 2022

RECORD PLC

New Liquid Municipal Loan Fund Launch

Record plc ("Record" or "the Company"), the specialist currency and derivatives manager, is pleased to announce the launch of a new private debt fund, EDS Universal KOMMUNALIS+ Liquidität Short Term ("KOMMUNALIS+"), investing primarily in municipal loans. Record will be acting as asset manager, in partnership with technology investment specialists European Debt Solutions ("EDS") and leading European fund service provider, Universal-Investments Group ("Universal").

The new technologically-enabled alternative investment fund aims at achieving returns of 60 basis points (0.60%) over Euribor, with two-month liquidity, by investing in short-term loans to European Municipalities and adding short-term receivables from investment grade EU corporates. The fund utilises EDS's innovation and Universal's expertise to provide a highly efficient fund service platform for European investors.

The fund is an open ended special AIF, registered in Luxembourg.

Leslie Hill, CEO, Record plc, said: "We are looking forward to the launch of KOMMUNALIS+ in cooperation with our partners EDS and Universal, and are proud of our role as asset manager. The fund is unique in its structure and tailored precisely to the needs of German institutional investors. The advantages of the platform economy impressively demonstrate how technological progress leads to efficiency improvements along the value chain and thus benefits the end investor. The new fund is a further building block in our ongoing expansion into innovative areas that meet the needs of our clients while also representing a further step in our planned expansion into the valuable European institutional market, where Record is well regarded and has a growing presence."

For further information, please contact:

Record plc   Tel: [phone]

Leslie Hill, Chief Executive Officer

Steve Cullen, Chief Finance Officer

Buchanan   Tel: [phone]

Giles Stewart  [e-mail]

Victoria Hayns

Henry Wilson

George Beale

Notes to Editors

Record plc

Record plc, founded in 1983, is an independent specialist currency and derivatives manager who has a market leadership position in managing currency hedging, currency for return and financial derivatives for institutional clients. Record (LSE: REC) was admitted to trading on the London Stock Exchange on December 3, 2007.

 

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