Profits to be in line at Record

20th Apr 2010 15:23

Currency investment manager Record expects pre-tax profits for the year just ended to be in line with market expectations.The company said assets under management equivalents (AuME) at the end of March had risen to £22.4bn from £22.1bn at the end of 2009, but were down in US dollar terms to $34bn from $35.7bn."The active hedging business has continued to grow in importance and now represents 35% of our AuME, compared with 13% at 31st March 2009," said Record's chairman and chief executive officer, Neil Record. "We continue to see interest in the active hedging product and anticipate seeing further client additions within the next twelve months," Record added.