Record hopeful of new mandates

15th Oct 2010 14:53

Currency investment manager Record has increased assets under management by 4% to $30.8bn in the quarter to September 2010. However, the sterling equivalent dropped slightly to £19.5bn. Exchange rate movements boosted the dollar figure by $1.6bn, while stock market movements added a further $600m. Average fee rates are being maintained. Marketing is being focused on promoting the dynamic hedging product in the UK and US. No new mandates were won in the first half but the company is hopeful that it can add new business in the second half. Interim figures will be published on 16 November.