Record PLC Second Quarter Trading Update (7361Q)
2023年10月20日 - 3:04PM
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RNS Number : 7361Q
Record PLC
20 October 2023
20 October 2023
RECORD PLC
SECOND QUARTER TRADING UPDATE
Record plc ("Record" or the "Company"), the specialist currency
and asset manager, is pleased to announce its trading update for
the three months ended 30 September 2023 ("Q2-2024").
Q2-2024 Highlights
-- Performance fees of GBP1.0 million earned during the quarter (FY-24 YTD: GBP1.5 million)
-- AUME of US$84.5 billion, including net inflows of US$1.5 billion for the quarter
Leslie Hill, Chief Executive of Record plc, commented :
"It is pleasing to report further performance fees of GBP1.0
million and net inflows of US$1.5 billion for the quarter.
"In our currency hedging business, our focus continues to be on
providing the highest levels of service and proactivity to our
clients to reinforce both the longstanding relationships built over
many years and the trust they continue to place in Record as their
solutions-led currency hedging manager.
"Our plans for diversification through our asset management and
digital asset businesses continue to progress well, albeit in
places more gradually than initially envisaged, and I look forward
to giving more detail on our strategic progress at our forthcoming
half-year results in November."
Trading Analysis
1. AUME composition
The Group's AUME as at 30 September 2023 totalled US$84.5
billion (30 June 2023: US$86.4 billion), and expressed in sterling
totalled GBP69.2 billion (30 June 2023: GBP68.0 billion). The
composition of AUME by product was as follows:
AUME - US$ billion
30 September 2023 30 June 2023
Dynamic Hedging 14.5 15.3
Passive Hedging 60.5 61.6
Currency for Return 3.9 4.1
Multi-Product 5.3 5.3
Cash & Futures/other 0.3 0.1
Total 84.5 86.4
2. AUME Movement
Net client AUME movement in the three months to 30 September
2023 was as follows:
Net AUME movement - US$ billion
3 months to 3 months to
30 September 2023 30 June 2023
Dynamic Hedging 0.0 0.3
Passive Hedging 1.7 (3.0)
Currency for Return (0.3) 0.1
Multi-Product (0.1) 0.1
Cash & Futures/other 0.2 0.0
Total net flows 1.5 (2.5)
FX movements and mandate
volatility targeting (1.5) 1.2
Movements in global stock
and other markets (1.9) 0.0
TOTAL AUME MOVEMENT (1.9) (1.3)
3. AVERAGE FEE RATES AND PERFORMANCE FEES
During Q2-2024, average fee rates remained broadly unchanged
from the previous quarter.
Performance fees of GBP1.0 million were earned in the
quarter.
Record will announce its half year results on 17 November 2023
and its third quarter trading update on 26 January 2024.
-Ends -
For further information, please contact:
Record plc Tel: +44 (0) 1753 852 222
Leslie Hill, Chief Executive
Officer
Steve Cullen, Chief Finance
Officer
Buchanan Tel: +44 (0) 20 7466 5000
Simon Compton record@buchanan.uk.com
Henry Wilson
George Beale
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END
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