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Record (REC)

Business description

Record is a specialist independent currency manager that provides a number of products and services, including passive and dynamic hedging, and a range of currency for return strategies, including funds and customised segregated accounts.

Reduction in size of a bespoke mandate

Update | Financials | 26/08/2015

Record has announced that a client has reduced the size of a tactical bespoke currency for return mandate that it was managing by $2.8bn with immediate effect. Consequently, we have lowered our FY16 and FY17 PBT forecasts by £1.3m and £2.0m (17% and 25%) respectively. Record had previously warned that the size of this particular mandate could prove volatile. The company reports a continued high level of client engagement on its passive and dynamic hedging strategies, although it cautions that there are long lead times to transform interest into new mandates.

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Stock data

Market cap.£62.2m
Last close31.250p
High / Low (52 weeks)51.1p / 28.6p
Stock market listingLN
Forecast net cash (£m)13.7
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual1.13.3(34.8)
Relative *(1.5)1.4(33.6)

* % Relative to local index

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