Record

Overview
Price performance
Financials
Research
Thematics

Record is a specialist independent currency manager. It provides a number of products and services, including passive and dynamic hedging, and a range of currency for return strategies, including funds and customised segregated accounts.

We will review our forecasts with the interim results but expect a return to growth in net inflows in FY26 once the strategy review has concluded. Management is aligning the product strategy with key long-term industry drivers and Record’s growth initiatives will target greater value-added services at higher revenue and operating margins.

Latest Insights

Financials |
Flash note

29.07.24

Record — Strong performance fees

Financials |
Outlook

16.07.24

Record — Transitional year ahead

Financials |
Update

16.05.24

Record — AUME momentum and a sharper focus

Financials |
Update

11.12.23

Record — Underlying growth and pipeline are attractive

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Sector

Financials

Equity Analyst

Martyn King

Director, Financials

Key Management

David Morrison

Chairman
Dr Jan Witte

CEO
Richard Heading

CFO

Balance Sheet

Forecast net cash (£m)

8.6

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(1.7)	(5.5)	(8.5)
Relative	1.7	(3.1)	(15.4)
52 week high/low	76.0p/58.0p

Financials

Results for the six months ended 30 September (H125) will be announced on 15 November. Q225 assets under management (AUM) grew $3.3bn in the quarter to $106.0bn, driven by positive foreign exchange movements, particularly for lower fee margin passive hedging. FX movements more than offset modest outflows in dynamic and passive hedging and the discontinuation of a custom interest rate swap portfolio. No performance fees crystalised in Q225 but for H125 performance fees were £1.6m, slightly ahead of the prior year (H124: £1.5m).