Business
FOURTH QUARTER TRADING UPDAT
FOURTH QUARTER TRADING UPDAT.
About this update from Record Plc
[{"type":"text","content":"\n RNS Number : 8669Q Record PLC 21 April 2009 \n \n21 April 2009\nRECORD PLC\nFOURTH QUARTER TRADING UPDATE\nRecord plc ('Record' or the 'Company'), the specialist currency investment manager, announces today that as at 31st March 2009 the Group's assets under management equivalents ('AuME') totalled $31.5 billion (31st December 2008: $35.6 billion). In addition, as referred to in the Trading Update of 20th January 2009 and not included in the above figures, Record has signed a US active hedging mandate that it anticipates will grow to $4 billion over the next twelve months and anticipates commencing the programme in May. For the additional US active hedging mandate referred to in the 20th January 2009 statement, contract discussions are expected to conclude positively in the near future.\nThe Board anticipates that pre tax profits will be in line with market expectations for the financial year ended 31st March 2009.\nAuME expressed in Sterling as at 31st March 2009 totalled £21.7 billion (31st December 2008: £24.7 billion). \n1. AuME composition\nRecord saw a decline in AuME and client numbers during the period between 31st December 2008 and 31st March 2009. The composition of AuME at 31st March 2009 was as follows:\n\n\n\n\nAuME $ bn\n\n\n\n\n\n\n\n31st March 2009\n\n\n31st December 2008\n\n\n\n\nAbsolute Return\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Segregated\n\n\n8.3\n\n\n\n\n\n8.7\n\n\n\n\n\n\n\n Pooled\n\n\n5.1\n\n\n\n\n\n6.5\n\n\n\n\n\n\n\nAbsolute Return Sub Total\n\n\n\n\n\n13.4\n\n\n\n\n\n15.2\n\n\n\n\nActive Hedging\n\n\n\n\n\n4.0\n\n\n\n\n\n4.8\n\n\n\n\nPassive Hedging\n\n\n\n\n\n13.0\n\n\n\n\n\n13.9\n\n\n\n\nCash & Futures\n\n\n\n\n\n1.1\n\n\n\n\n\n1.7\n\n\n\n\nTotal\n\n\n\n\n\n31.5\n\n\n\n\n\n35.6\n\n\n\n\n\n2. AuME MOVEMENT \nNet client AuME flows in the three months to 31st March 2009 by product were as follows:\n \n\n\n\n\nNet client AuME flows - $ bn\n\n\n\n\n\n\n\n3 mths to 31st March 2009\n\n\n3 mths to 31st December 2008\n\n\n\n\nAbsolute Return\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Segregated\n\n\n0.2\n\n\n\n\n\n(1.7)\n\n\n\n\n\n\n\n Pooled\n\n\n(1.0)\n\n\n\n\n\n(1.3...