Record PLC - Revenues are ahead of guidance

Record has published its trading update for the three months to 31 December 2024 (Q325). Increased volatility in currency markets has provided additional opportunities in value-add strategies and increased performance fees. Net flows were neutral in the period but there are continuing signs of progress with the company's strategic focus on core products, with strong inflows and continuing growth in Hedging for Asset Managers. We expect the first inflows from the recently launched Infrastructure Equity Fund by end FY25. Record continues to expect FY25 recurring management fees to be in line with previous guidance but for total revenues, including performance fees, to be ahead of its expectations.

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