LONDON (ShareCast) - (Sharecast News) - Currency and asset manager Record said on Friday that assets under management had ended the second quarter at the highest level it has ever reported, following positive underlying asset growth.
Record said AUM increased to a new high of $110.3bn, up from $107.9bn three months earlier, driven by growth in underlying assets, partially offset by outflows as clients rebalanced their exposures in response.

The London-listed firm also stated overall net flows were "marginally positive" in the three months ended 30 September. Inflows into Solutions for Asset Managers, previously known as Hedging for Asset Managers, were once again said to be "strong", and were also positive in FX Alpha following successive periods of outflows.

Record said performance fees hit £500,000, up from nothing in the prior year, while average fee rates in the quarter remained "broadly unchanged" from the previous quarter.

Record also highlighted that it had completed the first deployment of €100m of capital from its Infrastructure Equity fund.

As of 0900 BST, Record shares were up 2.75% at 57.95p.





Reporting by Iain Gilbert at Sharecast.com

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