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Record PLC on Friday reported a rise in assets during the first quarter of financial 2026 but a significant drop-off in performances fees compared to the previous year. The Windsor, England-based specialist currency and asset manager posted £107.9 billion in assets under management at June 30, up 6.9% from $100.9 billion at March 31. Record attributed this to positive foreign exchange movements, which were partially offset by underlying changes in the market. Performance fees came to £400,000 in the first quarter, less than half the £1.6 million booked in the same period of financial 2025, and lower than in financial 2024, when first-quarter fees were £500,000. Record maintained that this was ‘a good start’. On quarter, average fee rates were broadly unchanged, compared with fees of £300,000 in the quarter that ended March 31, the final quarter of financial 2025. ‘Our current year outlook remains highly dependent on the closing of large, complex deals in the pipeline but we maintain our expectation of revenue growth in low single digits and [earnings per share] flat,’ the company said. Net flows remained neutral, with strong inflows in Risk Management offset by outflows in Absolute Returns, due to the completed wind-down of an FX Alpha mandate. Record shares were down 5.3% at 60.03 pence on Friday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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