RNS Number : 7361Q
Record PLC
20 October 2023
20 October 2023
RECORD PLC
SECOND QUARTER TRADING UPDATE
Record plc ("Record" or the "Company"), the specialist currency and asset manager, is pleased to announce its trading update for the three months ended 30 September 2023 ("Q2-2024").
Q2-2024 Highlights
· Performance fees of
· AUME of
Leslie Hill, Chief Executive of Record plc, commented:
"It is pleasing to report further performance fees of
"In our currency hedging business, our focus continues to be on providing the highest levels of service and proactivity to our clients to reinforce both the longstanding relationships built over many years and the trust they continue to place in Record as their solutions-led currency hedging manager.
"Our plans for diversification through our asset management and digital asset businesses continue to progress well, albeit in places more gradually than initially envisaged, and I look forward to giving more detail on our strategic progress at our forthcoming half-year results in November."
Trading Analysis
1. AUME composition
The Group's AUME as at 30 September 2023 totalled
|
AUME - US$ billion |
||
|
|
30 September 2023 |
30 June 2023 |
|
Dynamic Hedging |
14.5 |
15.3 |
|
Passive Hedging |
60.5 |
61.6 |
|
Currency for Return |
3.9 |
4.1 |
|
Multi-Product |
5.3 |
5.3 |
|
Cash & Futures/other |
0.3 |
0.1 |
|
Total |
84.5 |
86.4 |
2. AUME Movement
Net client AUME movement in the three months to 30 September 2023 was as follows:
|
Net AUME movement - US$ billion |
||
|
|
3 months to 30 September 2023 |
3 months to 30 June 2023 |
|
Dynamic Hedging |
0.0 |
0.3 |
|
Passive Hedging |
1.7 |
(3.0) |
|
Currency for Return |
(0.3) |
0.1 |
|
Multi-Product |
(0.1) |
0.1 |
|
Cash & Futures/other |
0.2 |
0.0 |
|
Total net flows |
1.5 |
(2.5) |
|
FX movements and mandate volatility targeting |
(1.5) |
1.2 |
|
Movements in global stock and other markets |
(1.9) |
0.0 |
|
TOTAL AUME MOVEMENT |
(1.9) |
(1.3) |
3. AVERAGE FEE RATES AND PERFORMANCE FEES
During Q2-2024, average fee rates remained broadly unchanged from the previous quarter.
Performance fees of
Record will announce its half year results on 17 November 2023 and its third quarter trading update on 26 January 2024.
-Ends -
For further information, please contact:
|
Record plc Leslie Hill, Chief Executive Officer Steve Cullen, Chief Finance Officer
|
Tel: +44 (0) 1753 852 222 |
|
Buchanan Simon Compton Henry Wilson George Beale |
Tel: +44 (0) 20 7466 5000 record@buchanan.uk.com |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom . Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.