Record PLC First Quarter Trading Update
26 Juillet 2024 - 8:00AM
RNS Regulatory News
RNS Number : 9078X
Record PLC
26 July 2024
26 July
2024
RECORD PLC
FIRST 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 June 2024
("Q1-2025").
Jan Witte, CEO of Record plc,
commented:
"A solid start to the year with
another quarter of strong performance fees and stable AUM as asset
growth offset modest outflows. I remain confident that the renewed
focus we have on a core suite of six product categories, where our
offering and value-add is unique, positions us well for medium and
long-term growth and we are continuing our work in this
respect."
Highlights
·
AUM increased $0.5bn to
US$102.7 billion
·
Strong asset value growth offset modest
outflows
·
Performance fees of £1.6 million earned
during the quarter
·
Average fee rates in the quarter remained broadly
unchanged from the previous quarter
AUM
composition
The Group's AUM as at 30
June 2024 totalled US$102.7 billion
(31 March 2024: US$102.2 billion). The composition
of AUM by product was as follows:
|
AUM - US$
billion
|
|
|
30
June 2024
|
31 March 2024
|
|
Dynamic Hedging
|
16.4
|
16.5
|
|
Passive Hedging
|
66.2
|
66.0
|
|
Hedging for Asset
Managers
|
11.3
|
10.4
|
|
FX Alpha
|
5.0
|
4.5
|
|
EM Debt
|
1.1
|
1.0
|
|
Custom Solutions
|
2.5
|
3.7
|
|
Cash & Futures/other
|
0.2
|
0.1
|
|
Total
|
102.7
|
102.2
|
AUM
Movement
Net client AUM movement in the three
months to 30 June 2024 was as follows:
|
Net AUM
movement - US$
billion
|
|
|
3 months
to
30
June 2024
|
3 months
to
31 March 2024
|
|
Dynamic Hedging
|
0.0
|
0.0
|
|
Passive Hedging
|
(0.3)
|
(1.9)
|
|
Hedging for Asset Managers
|
1.0
|
0.9
|
|
FX Alpha
|
(0.1)
|
0.1
|
|
EM Debt
|
0.1
|
0.0
|
|
Custom Solutions
|
(1.2)
|
0.8
|
|
Cash & Futures/other
|
0.0
|
0.0
|
|
Total net flows
|
(0.5)
|
(0.1)
|
|
FX movements and mandate volatility
targeting
|
0.1
|
(4.2)
|
|
Movements in global stock and other
markets
|
0.9
|
7.0
|
|
TOTAL AUME MOVEMENT
|
0.5
|
2.7
|
Record will announce its Q2 2025
trading update on 25 October 2024.
-Ends -
For
further information, please contact:
|
Record plc
Dr Jan
Witte, Chief Executive Officer
Richard
Heading, Chief Finance Officer
|
+44 (0)
1753 852 222
|
|
Panmure
Liberum
David
Watkins
Atholl
Tweedie
|
+44 (0)20
7886 2500
|
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END
TSTPPUPAMUPCGAA
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