Record PLC (LSE:REC), the specialist currency and asset manager, had a steady fourth quarter, ending March with assets under management of $114.6 billion, just a nudge below the $115.9 billion it reported at the end of December.
The slight dip wasn't down to clients heading for the exits. In fact, Record pulled in $1.4 billion of net new money in the quarter, its third consecutive period of positive inflows. Unfortunately, market movements and foreign exchange headwinds absorbed exactly the same amount, leaving AUM broadly flat.
The breakdown shows Passive Hedging as the biggest slice at $75.8 billion, with Dynamic Hedging and Solutions for Asset Managers both at $17 billion. Risk Management assets came in at $109.8 billion.
On fees, performance crystallisations were modest at £0.4 million for the quarter - slightly ahead of last year's £0.3 million - though full-year performance fees of £2.8 million came in a touch below the £3.2 million recorded in FY25. Average fee rates held steady through the quarter.
Despite the turbulence in global markets and an uncertain macro backdrop, Record said its earnings outlook for the full year remains unchanged.