LONDON (ShareCast) - (Sharecast News) - Specialist currency manager Record announced on Friday that its assets under management equivalents (AUME) as at 30 June totalled $61.9bn, down from $62.2bn at the end of March.
The London-listed firm said AUME expressed in sterling as at the end of June was £46.9bn, up from £44.3bn.

It said net client AUME inflows were $0.6bn for the quarter, compared to outflows of $1.6bn in the previous quarter.

That was made up of $0.6bn inflows from currency for return, with a $0.4bn inflow from dynamic hedging offset entirely by a $0.4bn outflow from passive hedging.

Record said it had 64 clients at 30 June, up from 60 clients at the end of March.

The board explained that the inflow of $0.6bn in currency for return represented the previously-announced new mandate of $0.3bn, scaled in accordance with its volatility target.

Fees for that mandate would be charged on a management plus performance fee basis.

"The group continues to focus on enhancing its products and on building a more diverse portfolio both in terms of clients and in the mix of revenue streams," said chief executive James Wood-Collins.

"The announcement of Record's first performance fees since March 2016 reinforces the progress made in product enhancement and diversification, and upon which we hope to build going forward.

"With our diversified product suite and our ability to offer tailored solutions to clients and potential clients, we are confident that further progress can be made in the current financial year."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE