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Record plc ( (GB:REC) ) has provided an announcement.
Record plc reported a strong third quarter, highlighted by the successful launch of their new Infrastructure Equity Fund and an increase in performance fees due to higher currency volatility. While net asset flows were neutral, the company experienced significant inflows in its Hedging for Asset Managers offering, maintaining stable management fee expectations and forecasting revenue to surpass previous estimates. The Group’s assets under management (AUM) decreased due to currency fluctuations, specifically the strengthening of the US dollar against the Swiss franc, which impacted their USD-denominated AUM.
More about Record plc
Record plc is a specialist currency and asset manager, focusing on providing currency hedging and management services, as well as infrastructure equity investments. It targets asset managers and institutional clients with a focus on managing currency risk and enhancing return profiles.
YTD Price Performance: -12.78%
Average Trading Volume: 246,135
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £88M
Learn more about REC stock on TipRanks’ Stock Analysis page.