Record PLC (LON:REC) highlighted “momentum in new business” as it released a third-quarter trading update showing US$2.5bn in net inflows.
The specialist currency manager noted that US$1bn relates to a ‘tactical bespoke mandate’ with an existing client.
Overall, the firm’s assets under management equivalents (AUME) - in dollars - increased by 8% to US$64.7bn at the end of December.
Management fee rates remained broadly unchanged and performance fees of US$1.8mln were earned in the quarter.
"Management fee rates held up in spite of continued competition and fee pressure,” James Wood-Collins, Record's chief executive said in the statement.
“Our focus remains on building on current business opportunities and on enhancement and innovation of our products and services."
Record said it will provide a fourth quarter update on 17 April, followed by full year financial results on 19 June.