LONDON (ShareCast) - (Sharecast News) - Specialist currency manager Record updated the market on its trading for the three months ended 31 December on Friday, reporting that assets under management equivalents expressed in dollars grew 8% over the period, to $64.7bn.
The London-listed firm said it recorded net inflows of $2.5bn in the period, of which $1bn related to a tactical bespoke mandate, as it had previously announced.

Client numbers increased by three to 73, while management fee rates remained broadly unchanged, with performance fees of £1.8m earned in the third quarter.

"In the third quarter we have demonstrated momentum in terms of new business, as illustrated through positive net inflows of $2.5bn and continued growth in client numbers for the quarter," said chief executive officer James Wood-Collins.

"Overall, assets under management equivalents is up 12.9% in dollar terms in the nine months to 31 December.

"Performance fees of £1.8m earned in the period highlight our ability to add value to mandates and underscore our capabilities."

Wood-Collins said the firm's management fee rates held up despite continued competition and fee pressure.

"Our focus remains on building on current business opportunities and on enhancement and innovation of our products and services."

Record said it would announce its fourth quarter trading update on 17 April, and its financial results for the year ending 31 March on 19 June.

At 1019 GMT, shares in Record were up 6.03% at 41.35p.

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