Record hails fifth consecutive quarter of net inflows as assets rise

Record PLC on Thursday reported a fifth consecutive quarter of net inflows as it disclosed 6.8% growth in assets under management.

The Windsor, England-based specialist currency and asset manager said assets under management at the September 30, the end of Record's financial second quarter, amounted to USD130.3 billion, up 6.8% from USD122.0 billion at the end of June. Record's financial year runs to the end of March.

Net inflows amounted to USD10.4 billion, driven mainly by new mandates within Absolute Return and Private Markets.

"This marks a fifth consecutive quarter of positive net flows for the group. This was partially offset by underlying asset movements and impacts from foreign exchange movements," Chief Executive Officer Jan Witte said.

Alongside the growth in AUM, Record said it crystallised performance fees of £2.2 million in the half-year to September versus £800,000 the year prior. Performance across the group remains in line with expectations for the full year, Record said.

Further details on performance will be provided in interim results for the six months ended September 30, which will be announced on November 6.

Shares in Record were up 6.0% at 46.10 pence each in London on Thursday.

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