23rd Apr 2021 10:32
(Alliance News) - Currency and derivatives manager Record PLC on Friday said assets under management climbed to their highest ever level at the end of its recent financial year.
Assets under management equivalents were 37% higher annually in the year to March 31 at USD80.1 billion. Quarter-on-quarter AUMEs rose 7%.
Client numbers rose by 17, or 24%, over the year to 89, Record added.
"Our business has continued to grow and evolve in line with our strategy of accelerated growth, planning for generational change and adding value for our stakeholders. I am pleased to report Record's highest ever AUME, which ended the year 37% higher than last year," Chief Executive Leslie Hill said.
"Whilst the growth to date has broadly been across our core suite of currency products and services, inflows into our higher-margin products including Dynamic Hedging and Multi-Product have changed the revenue mix, reducing the dominance of our lower-margin Passive Hedging products over which we expect to see continued fee pressure in the future."
Record shares were 3.2% higher at 81.00 pence each in London on Friday morning.
By Eric Cunha; [email protected]
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