25th Apr 2025 10:53
(Alliance News) - Record PLC on Friday said it is "very well-positioned" going forward, as it posted an increase in assets under management in its fourth quarter.
Record is a Windsor, England-based specialist currency and asset manager.
The company reported that its assets under management totalled USD100.9 billion at March 31, the period end, up 15% from USD87.7 billion the previous year.
Assets under management were also up 0.4% from USD100.5 billion the prior quarter.
The firm noted that positive changes in exchange rates were partially offset by "modest outflows and underlying market movements".
Record said it achieved performance fees of GBP300,000 in the three months to March 31, down 63% from GBP800,000 the prior year.
As a result, said the firm, performance fees for the full-year are GBP3.2 million, falling 45% from the prior year's GBP5.8 million.
Record shares were flat at 54.20 pence in London on Friday morning.
Record said that its full-year revenue expectations remain unchanged. In its third-quarter update in January, Record said its expects revenue to come in slightly ahead of previous expectations.
The firm is set to publish its full-year results on June 20.
Chief Executive Officer Jan Witte said: "Currency volatility has been especially high in the first weeks of April and we continue working closely with our clients to manage their hedging programs and ensure they remain well protected.
"Looking forward, I am confident that Record is very well positioned: we offer best-in-class risk management solutions at a time of uncertainty, we have a strong balance sheet, and, since we operate an agency model, we take no market or counterparty credit risk ourselves."
By Olivia Mason-Myhill, Alliance News reporter
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