Record plc (LON:REC), the specialist currency and asset manager, has announced its trading update for the three months ended 31 March 2026.
Highlights
· A third successive quarter of net inflows, with AUM of US$114.6bn at year end reflecting positive client flows offset by asset market movements and FX headwinds.
· Performance fees of £0.4m crystallised in Q4 FY26 (Q4 FY25: £0.3m), bringing performance fees for the full year to £2.8m (FY25: £3.2m).
· Average fee rates in the quarter remained broadly unchanged from the previous quarter.
· Earnings expectations for the full year remain unchanged, despite changing market conditions in the face of global macroeconomic and political volatility.
AUM composition
AUM at 31 March 2026 totalled US$114.6bn (31 December 2025: US$115.9bn).
The composition of and changes to AUM by product were as follows:
| Net flows | Asset movement | FX movement and scaling | |||
| US$ billion (bn) | 31 December 2025 | 31March 2026 | |||
| Passive Hedging | 76.0 | 1.1 | (0.2) | (1.1) | 75.8 |
| Dynamic Hedging | 17.6 | 0.1 | (0.7) | – | 17.0 |
| Solutions for Asset Managers | 17.4 | 0.3 | (0.5) | (0.2) | 17.0 |
| Risk Management | 111.0 | 1.5 | (1.4) | (1.3) | 109.8 |
| FX Alpha | 2.7 | (0.1) | – | – | 2.6 |
| Custom Opportunities | 0.8 | – | – | – | 0.8 |
| Other | 0.3 | – | – | – | 0.3 |
| Absolute Return | 3.8 | (0.1) | 0.0 | 0.0 | 3.7 |
| EM Local Debt | 1.0 | – | – | – | 1.0 |
| Infrastructure | 0.1 | – | – | – | 0.1 |
| Private Markets | 1.1 | 0.0 | 0.0 | 0.0 | 1.1 |
| Total | 115.9 | 1.4 | (1.4) | (1.3) | 114.6 |
Record plc will announce its results for the 12 months ended 31 March 2026 on 19 June 2026.
