Business
Trading Statement
Trading Statement.
About this update from Record Plc
[{"type":"text","content":"\n \n \n RNS Number : 1023G\n Record PLC\n 13 March 2020\n \n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). Upon the publication of this announcement via Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \n \n 13 MARCH 2020\n \n RECORD PLC\nBUSINESS UPDATE\n Record plc (\"Record\" or \"the Company\"), the specialist currency manager, announces today the reduction of approximately $1 billion (with AUME quoted by convention in US dollars) to a tactical bespoke mandate. This arises as a consequence of market movements and is a reversal of the temporary increase previously announced on 23 December 2019. Fee rates for this mandate are reported under, and generated fees consistent with Record's Multi-Product mandates.\n Record will announce its fourth quarter trading update on 17th April 2020 and its financial results for the year ending 31st March 2020 on 19th June 2020.\n \n \n \n \n For further information, please contact:\n \n \n \n \n \n \n Record plc\n \n Tel: +44 (0) 1753 852 222\n \n Leslie Hill, Chief Executive Officer\n \n Steve Cullen, Chief Finance Officer\n \n \n \n \n \n \n Buchanan\n \n Tel: +44 (0) 20 7466 5000\n \n \n Giles Stewart [email protected]\n \n \n Victoria Hayns\n \n \n Henry Wilson\n \n \n Notes to Editors\n \n Record plc\n \n Record is a specialist currency manager and provider of currency hedging services for institutional clients. Founded in 1983, Record has established a market leading position as a currency manager. Specifically, the Group has a leading position in managing Currency Hedging and Currency for Return for institutional clients.\n \n \n \n \n The Group has four principal reporting lines:\n \n \n - \n Dynamic Hedging, where Record seeks to eliminate the impact of currency movements on elements of clients' investment portfolios that are denominated in foreign currencies when these movements are expected to result in an economic loss to the client, but not to do so when they are expected to result in an economic gain;\n \n \n - \n Passive Hedgin...