Record PLC (LSE:REC), the specialist currency and derivatives manager, saw inflows into its Dynamic Hedging and Emerging Market Sustainable Finance funds in the final quarter of 2021.
Both products are higher revenue-margin products. Inflows for the two funds in what is the third quarter of the fund manager’s fiscal year totalled US$1.1bn and US$0.3bn respectively.
The group’s assets under management at the end of December stood at US$85.3bn, up from US$84.1bn at the end of September. In sterling terms, this represented a rise to £63.0bn from £62.4bn.
Fee rates remained broadly unchanged from the previous quarter. No performance fees were earned in the quarter, Record said.
"Building strategic partnerships remains core to our growth strategy, and on 17 January we announced the launch of the KOMMUNALIS+ fund in Germany – a new, uniquely structured, private debt fund launched in cooperation with our partners EDS and Universal,” said Leslie Hill, the chief executive officer of Record.
“The partnership marries Record's asset management expertise with that of EDS as technology investment specialist, and Universal as a leader in European fund services, and furthermore marks another important step in our journey towards product diversification and our planned expansion into the European institutional market,” he added.