Business
FIRST QUARTER TRADING UPDATE
FIRST QUARTER TRADING UPDATE.
About this update from Record Plc
[{"type":"text","content":"\n \n \n 22 July 2022\n \n \n RECORD PLC\n \n \n FIRST QUARTER TRADING UPDATE\n \n \n \n \n \n Record plc\n ('Record' or the 'Company'), the specialist currency and derivatives manager, is pleased to announce its trading update for the three months ended 30 June 2022 (\"Q1-2023\").\n \n \n \n \n \n Q1-2023 Highlights\n \n \n \n \n \n ·\n AUME net inflows of US$2.0 billion during the quarter\n \n \n ·\n Performance fees of £2.3 million earned during the quarter\n \n \n ·\n Awarded new Passive Hedging mandate, expected to build up to $8.0 billion by the end of the financial year\n \n \n \n \n \n \n Leslie Hill, Chief Executive of Record plc, commented\n \n :\n \n \n \n \n \n \"Notwithstanding the current challenging macro-economic environment, it is pleasing to report a positive quarter for the Group in terms of net inflows of US$2.0 billion, performance fees of £2.3 million and the award of a new and significant Passive Hedging mandate (subject to successful completion of final contract negotiations).\n \n \n \n \n \n \"As expected, uncertainty in financial markets linked to both economic and heightened political pressures has continued to have an impact on the value of some clients' underlying portfolios, primarily within our Passive Hedging product, reflected by a decrease in AUME from market movements of 4.7% (US$3.9 billion) over the quarter.\"\n \n \n \n \n \n \n Trading Analysis\n \n \n \n \n \n \n \n \n 1. AUME composition\n \n \n The Group's AUME as at 30 June 2022 totalled US$77.9 billion (31 March 2022: US$83.1 billion), and expressed in sterling totalled £64.2 billion (31 March 2022: £63.1 billion). The composition of AUME by product was as follows:\n \n \n \n \n \n \n \n \n \n \n AUME - US$ billion\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 30 June 2022\n \n \n \n \n 31 March 2022\n \n \n \n \n \n \n Dynamic Hedging\n \n \n \n \n 10.6\n \n \n \n \n 10.6\n \n \n \n \n \n \n Passive Hedging\n \n \n \n \n 58.2\n \n \n \n \n 62.8\n \n \n \n \n \n \n Currency for Return\n \n \n \n \n 4.5\n \n \n \n \n 5.0\n \n \n \n \n \n \n Multi-Product\n \n \n \n \n 4.4\n \n \n \n \n 4.5\n \n \n \n \n \n \n Cash & Futures\n \n \n \n \n 0.2\n \n \n \n \n 0.2\n \n \n \n \n \n...