Record’s fourth-quarter update points to continued client demand and a resilient earnings outlook.
The company reported $1.5bn of net inflows into its risk management strategies, showing that institutional clients continue to use its services despite a volatile market backdrop. Assets under management slipped 1% quarter on quarter to $114.6bn, but this was driven by asset and foreign exchange movements rather than client outflows.
Performance fees added £0.4m in the quarter, taking the full-year total to £2.8m. While slightly below the £3m estimate, the contribution remains supportive and reflects a more favourable environment for currency-related strategies.
Management kept full-year earnings expectations unchanged. The main upside remains the timing and conversion of larger, more complex opportunities in the pipeline.
Record plc (LON:REC) develops bespoke, high-quality, sophisticated solutions for institutional investors, a unique offering stemming from Record’s knowledge and expertise gained from its core currency hedging markets.
