Record plc reports 14% rise in AUM to $114.6bn for FY26

REC

Record plc (LON:REC), the specialist asset manager, has announced its audited results for the year ended 31 March 2026.

Financial highlights

·      AUM up 14% to $114.6 billion (FY25: $100.9 billion) with strong inflows from new business wins, and favourable foreign exchange and market movements

·      Total revenue down 4% to £40.1 million (FY25: £41.6 million) due to mandate re-compositions and lower performance fees

·      Operating costs down 2% to £30.4 million (FY25: £30.8 million) whilst still investing selectively in key areas that support strategic objectives

·      Profit after tax down 23% to £7.0 million (FY25: £9.1 million) reflecting tax rate normalising following prior year deferred tax credits

·      Basic EPS down 22% to 3.92 pence (FY25: 5.03 pence), broadly in line with expectations

·      Final ordinary dividend of 1.45 pence per share (FY25: 2.50 pence) brings full year ordinary dividend to 3.60 pence (FY25: 4.65 pence), reflecting a dividend payout ratio maintained at 92%

·      Strong financial position with net assets of £27.8 million (FY25: £29.1 million)

Strategic and Operational highlights

·      35% of Record Infrastructure Equity Fund initial capital commitment now pledged, with first deployment completed and two more scheduled for completion in first half of FY27

·      Solutions for Asset Managers became the biggest source of growth, with a 19% increase in AUM and a 39% increase in revenue

·      Executive team strengthens with Andreas Dänzer as Group Chief Investment Officer, and Dr Othman Boukrami appointed as Chief Executive Office of Group subsidiary, Record Currency Management Limited

Dividend

The Board has recommended a final ordinary dividend for the year ended 31 March 2026 of 1.45p per share. This is subject to approval by shareholders at the Annual General Meeting to be held on 22 July 2026. If approved, the dividend will be paid on 27 July 2026 to shareholders who are on the register of members at 3 July 2026, taking the total ordinary dividends for the year to 3.60p per share. Shares will trade ex-dividend from 2 July 2026.

Outlook

·      FY27 has started with strong momentum, with focus on maintaining the foundations in Risk Management while continuing the momentum in Absolute Return and Private Markets

·      New mandates nearing completion are expected to contribute £4 million to revenue, supporting current FY27 market expectations

·      Further updates on pipeline development and progress over the remainder of the year will be provided in due course

Commenting on the results, Jan Witte, chief Executive Officer of Record plc, said:

“Record is a business in purposeful evolution. We are excited for the future. Our core is unchanged: we deliver best-in-class solutions to large institutional investors. What is changing is the breadth of problems we solve, and the quality of the earnings that follow. Private Markets strategies, in particular, offer the potential for longer-term, higher-margin and more scalable revenues as they mature. This is where our priorities are focused. These growth opportunities require continued balance sheet strength and disciplined capital allocation to support their full potential. With our strategic pillars guiding us, a strengthened leadership team, and growing visibility of returns over the medium term, we are confident in the direction of travel.”

Analyst presentation

There will be a presentation for analysts at 9:30am on Friday, 19 June 2026 held via a Teams call. Please contact [email protected] for further details. A copy of the presentation will be made available on the Group’s website at www.recordfg.com.

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