22nd Oct 2021 11:35
Record PLC - Windsor, Berkshire-based currency and derivatives manager - Assets under management equivalents end September at USD84.1 billion, down from USD84.5 billion at the end of June. Total net inflows are USD100 million in the three months to September 30, with USD600 million inflows in Dynamic Hedging and USD100 million for Currency for Return being offset by USD600 million outflows in Passive Hedging. Exchange rate movements and mandate volatility shed USD1.0 billion from group assets; however, but this was partially offset by USD500 million growth from movements in global stock markets.
Chief Executive Leslie Hill says: "Our focus continues on the diversification of our products and revenue streams. In this respect, building strategic partnerships remains core to our growth strategy and we are excited to be working in collaboration with a new EU partner to develop an investment product focused on the German institutional market, which we hope to launch by the end of the calendar year.
"This will add further diversification to our product range and broadens our expertise in financial derivatives outside of pure currency."
Current stock price: 81.17 pence, up 3.3% on Friday
Year-to-date change: up 68%
By Paul McGowan; [email protected]
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