Second Quarter Trading Update

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 Dr Jan Witte, Chief Executive Officer Richard Heading, Chief Finance Officer	Tel: [phone]
Panmure Liberum Atholl Tweedie David Watkins	Tel: [phone]

 

END