Record reports slightly narrower assets under management

Specialist currency and asset manager Record said on Tuesday that during the first quarter of its 2024 fiscal year, it generated performance fees of £0.5m.

The London-listed firm said that in terms of assets under management, it recorded a figure of $86.4bn at the end of the three months ended 30 June.

That did, however, reflect a 2% decrease compared to the figure of $87.7bn recorded at the close of the prior fiscal year, on 31 March.

“We continue to work hard towards the three-year targets we set ourselves for the 2025 financial year,” said chief executive officer Leslie Hill.

“Notwithstanding the challenging macroeconomic backdrop, we expect the business to achieve a number of important milestones in the 2024 period, and look forward to the rest of the year with optimism.”

At 0845 BST, shares in Record were down 6.82% at 82p.

Reporting by Josh White for Sharecast.com.