6th Nov 2026 13:26
(Alliance News) - Record PLC on Friday said assets under management reached a record high in the six months to September, although the company cut its interim dividend in keeping with its new payout policy.
The London-based currency and asset manager said assets under management totalled USD130.3 billion on September 30, up 14% from USD114.6 billion on March 31. Growth was driven by net inflows of USD12.7 billion across the company's three key products: Risk Management, Absolute Return and Private Markets.
Pretax profit increased 60% to GBP7.2 million from GBP4.5 million, while profit after tax rose 61% to GBP5.3 million from GBP3.3 million.
Revenue rose 19% to GBP22.8 million from GBP19.2 million. Management fees rose 6% to GBP18.6 million from GBP17.5 million as Record's client base expanded. Performance fees more than doubled to GBP2.2 million from GBP800,000.
Chief Executive Jan Witte said: "The group performed well this period, with profits considerably ahead of the same period last year. Performance fees made a strong contribution, but, even excluding performance fees, revenue still grew faster than our costs. This is the operating leverage we have been working towards."
Witte added: "As the fragmented market environment continues to evolve, institutional investors are placing more emphasis on diversification, on actively managing their currency exposures and on finding sources of return that are uncorrelated with traditional assets. These are areas where Record's expertise is particularly relevant, and the new business we have won this half shows that clients increasingly look to us for solutions."
Record declared an interim dividend of 1.00 pence per share, down 53% from 2.15 pence a year earlier. The company said it has revised its dividend policy, which now targets a total payout range of between 40% and 60% of profit after tax, to ensure it "is sustainable and aligned with the growth targets of the business".
Record shares were marginally higher at 46.82 pence in London on Friday afternoon.
By Camilla Borri, Alliance News reporter
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