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Record Says Existing Client Mandate Increased By USD1.75 Million
LONDON (Alliance News) - Currency manager Record PLC Friday said it has secured increases to a bespoke mandate totalling around USD1.75 million from an existing client, although it added that the mandate is of a tactical nature and at least part of the increase is likely to be temporary.
Record said the fees are consistent with its previously-published average fee rates for return-seeking strategies.
The increase in the mandate and the higher revenue started to feed through in the latter portion of the current quarter, the company said.
Shares in Record were up 1.3% to 34.95 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Record Shares in this article
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