Record reports slightly narrower assets under management

(Sharecast News) - 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.