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Record quarterly assets under management up 4%
StockMarketWire.com
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Specialist currency manager Record said its assets under management grew 4% in the second quarter.
The company's assets under management equivalents (AUME) for the three months through September, in US dollar terms, increased to $65.9 billion, up from $63.3 billion in the three months through June.
When expressed in sterling, AUME fell slightly to £51.0 billion, down from £51.2 billion.
'During Record's second quarter considerable progress was made against our growth objectives,' chief executive Leslie Hill said.
'In particular, it was pleasing to announce our dynamic hedging mandate win of approximately $8 billion, which will add material scale to our AUME over time.'
'Notwithstanding the size of the mandate, no further investment in systems or personnel is required, underlining the scalability of our operational systems.
"As we approach the end of the calendar year, we continue to monitor the ongoing Brexit negotiations closely.'
'We will ensure the continuity of service to our current EU-27 based clients, and our plans are in hand to retain the ability to market to potential new EU-27 clients, irrespective of the final outcome of negotiations.'
Story provided by StockMarketWire.com
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