19th Oct 2020 12:44
(Alliance News) -Â Record PLC on Monday reported a rise in second quarter assets under management equivalents in dollar terms.
The Berkshire, England-based specialist currency manager said assets under management equivalents grew 4% over the quarter to USD65.9 billion at the end of September, versus USD63.3 billion at June 30. In sterling terms, AuME was broadly flat at GBP51.0 billion versus GBP51.2 billion.
Passive hedging made up USD55.6 billion of its USD65.9 million AuME at September-end, up from USD53.9 billion at June 30. Dynamic hedging rose to USD3.2 billion from USD2.9 billion, Currency for Return rose to USD3.4 billion from USD3.1 billion and Multi-Product to USD3.5 billion from USD3.2 billion.
"As we approach the end of the calendar year, we continue to monitor the ongoing Brexit negotiations closely. We will ensure the continuity of service to our current EU-27 based clients, and our plans are in hand to retain the ability to market to potential new EU-27 clients, irrespective of the final outcome of negotiations," said Chief Executive Leslie Hill.
Shares in Record were up 0.2% at 43.70 pence in London on Monday.
By Lucy Heming;Â [email protected]
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