Record - A reassuring update
With more than 90% of assets under management equivalent (AUME) linked to equity and other market levels it was not surprising to see Record’s AUME fall by 9% in the quarter to end March. Positively, flows and client count moved little in the period. For FY20 as a whole AUME was up 2% in dollar terms, inflows were equivalent to 8% of the opening level and the number of clients increased by 11%. The group acts on a purely agency business, and has a sticky institutional client base and a strong net cash position.Record is an independent currency manager delivering currency solutions. Co.'s clients are mainly institutions, including pension funds, charities, foundations, endowments, and family offices, as well as other fund managers and corporate clients.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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