25th Aug 2015 07:33
LONDON (Alliance News) - Specialist currency manager Record PLC Tuesday said the size of a bespoke mandate it had previously flagged as having increased by USD1.75 billion in its first quarter has reduced by around USD2.8 billion with immediate effect due to currency market movements.
Record noted that the size of this mandate may continue to be volatile. However, it said, that fee rates for the mandate are consistent with previously published average fee rates for return-seeking strategies.
It said it will provide a second-quarter trading update on October 16.
Shares in Record were down 22% at 29.15 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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