Record plc has secured two new mandates through its subsidiary Record Currency Management, including a US$3bn allocation to its FX Alpha strategy and an initial US$80m mandate focused on frontier markets. The agreements expand the group’s Absolute Return and Private Markets activities as it seeks to diversify its revenue base beyond traditional currency risk management.
The new FX Alpha mandate has been designed to complement the client’s existing currency risk management arrangement with Record. The additional allocation increases the strategy’s assets under management to more than US$12bn, providing greater scale for a business that has operated since 2012.
FX Alpha aims to generate risk-adjusted returns across different market conditions without requiring capital outlay. The strategy forms part of Record’s Absolute Return offering and is designed to have limited correlation with traditional asset classes. The latest mandate demonstrates the potential for the group to expand relationships with existing institutional clients by providing additional investment solutions alongside its established currency services.
The second agreement is an FX Frontier mandate, initially valued at US$80m and expected to grow substantially. The strategy builds on Record’s existing Emerging Markets Sustainable Finance offering and is intended to support sustainable projects in sub-Saharan Africa.
The mandate extends the group’s currency expertise into frontier markets, where financial transactions and investment projects can involve specific currency and funding requirements. The initial allocation provides a starting point for the strategy, while its expected expansion could increase its contribution to the group’s activities over time.
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.
