Business
Fourth Quarter Trading Update
Fourth Quarter Trading Update.
About this update from Record Plc
25 April 2025 RECORD PLC FOURTH QUARTER TRADING UPDATE Record plc ("Record" or the "Group"), the specialist currency and asset manager, is pleased to announce its trading update for the three months ended 31 March 2025 ("Q4-2025"). Jan Witte, CEO of Record plc, commented: "Our core risk management services continue to deliver great outcomes for our clients. AuM remained high with modest outflows and asset movements offset by positive changes in exchange rates. In addition, we recognised another £0.3m of performance fees to bring the total for the year to £3.2m. Our expectations for full year revenues are unchanged. Currency volatility has been especially high in the first weeks of April and we continue working closely with our clients to manage their hedging programs and ensure they remain well protected. Looking forward, I am confident that Record is very well positioned: we offer best-in-class risk management solutions at a time of uncertainty, we have a strong balance sheet, and, since we operate an agency model, we take no market or counterparty credit risk ourselves." Highlights · AUM increased $0.4 billion to US$100.9 billion with positive changes in exchange rates partially offset by modest outflows and underlying market movements. · Performance fees of £0.3m crystalised in Q4, bringing performance fees for the full year to £3.2m. · Average fee rates in the quarter remained broadly unchanged from the previous quarter. AUM composition The Group's AUM as at 31 March 2025 totalled US$100.9 billion (31 December 2024: US$100.5 billion). The composition of and changes in AUM by product were as follows: US$ billion 31 December 2024 Net flows FX movements Asset movements 31 March 2025 Dynamic Hedging 14.9 0.4 0.0 0.6 15.9 Passive Hedging 64.8 0.0 1.7 (1.4) 65.1 Hedging for Asset Managers 12.8 1.2 0.3 0.0 14.3 FX Alpha 5.4 (2.2) 0.1 (0.3) 3.0 EM Debt 1.0 (0.1) 0.0 0.1 1.0 Custom Solutions 1.4 0.0 0.0 0.0 1.4 Cash & Futures / other 0.2 0.0 0.0 0.0 0.2 Total 100.5 (0.7) 2.1 (1.0) 100.9 Record will announce its results for the 12 months ended March 31 st on 20 June 2025. -Ends - For further information, please contact: Record plc Dr Jan Witte, Chief Executive Officer Richard Heading, Chief Financial Officer [email protected] Panmure Liberum Atholl Tweedie David Watkins Tel: +44 (0)20 7886 2500