Record Share Discussion Threads

[konradpuss] 24/11/2024 15:13

Record got a hold to buy recommendation from Simon 'Puffer' in the I.C. this week.

I actually think he is spot on however currently the market thinks otherwise.

From the Investor's presentation it appears the management has been doing the rounds trying to get across what they are trying to achieve.

[brucie5] 15/11/2024 15:13

Good assessment, Thx.

[mpage] 15/11/2024 14:03

I think these are a quietly encouraging set of results under the new senior management team.

The costly IT farce has been sorted and the crazed notion of a bitcoin fund dropped in favour of the steady, reliable and partially inflation-linked fee income of an infrastructure fund alongside the other two unique fund offerings.

Overlooking the temporary payment of two sets of rent, the new leased office in London will invigorate existing staff and provide access to a much wider pool of talent as Record continues to make progress as a specialist asset manager.

[brucie5] 15/11/2024 13:49

I'm glad there's someone else here. All good it seems on the the good ship Rec. And a new infrastructure fund being added to the mix, I understand.

[martinmc123] 15/11/2024 11:19

3*
Record Plc posted fairly average Interims this morning. Revenue was down 2% to £21.1m in line with expectations following a restructuring of a large client mandate. Profit after tax attributable to Record plc shareholders was £5.0m up 5%, Basic EPS attributable to Record shareholders was up 4% to 2.58 pence. The Interim dividend was maintained at 2.15 pence per share. The balance sheet remains strong with net cash of £14.3m. Encouragingly there was 4% growth in Assets Under Management during the period to a new high of $106.0bn...from WealthOracle

wealthoracle.co.uk/detailed-result-full/REC/981

[konradpuss] 15/11/2024 07:23

If the performance fees continue to roll in during the second half they might well be a special dividend. They are currently ahead of last year at this point on the performance fees.

[robsy2] 15/11/2024 07:20

Assuming no special divi this financial year, we can expect a total payout of 4.6p which is around 7.4%.That works well enough for me.

[robsy2] 15/11/2024 07:15

Steady as she goes with the divi held at 2.15p. I did note the following;

"We continue to see opportunities for earning performance fees in some of our Passive Hedging mandates, with £1.6 million earned in the period compared to £1.5 million earned in H1 FY24. However, the exceptional performance fees of £4.3 million earned in H2 FY24 are unlikely to be repeated in the second half of this year."
While I can't see us hitting the 140p price target any time soon , we plod on profitably, dividends look safe enough and there is some growth in the pipeline.Strong hold for me.

[martinmc123] 25/10/2024 10:14

3*
Record plc issued a fairly brief trading update which was reasonable looking but not particularly exciting. AUM increased US$3.3 billion to US$106.0 billion with positive foreign exchange movements offsetting modest outflows in dynamic and passive hedging and the discontinuation of a custom interest rate swap portfolio. No performance fees crystalised in Q2 2025 but H1 2025 performance fees were £1.6m, slightly ahead of prior year H1 2024 at £1.5m...from WealthOracle

wealthoracle.co.uk/detailed-result-full/REC/912

[brucie5] 25/10/2024 09:19

TU today - steady does it. Looks like a bottom to me.

[wjccghcc] 17/9/2024 09:49

Suspect it’s more to do with CGT likely increasing in the budget.

[konradpuss] 17/9/2024 08:30

Probably had a big credit card bill to pay! Who knows.

[cwa1] 17/9/2024 08:13

Blimey, this makes me feel happier, not...

[konradpuss] 16/9/2024 08:19

Does anyone have access to the Panmure research or is it available somewhere on the net?

[wallywoo] 13/9/2024 14:28

Picked up some cheap stock here at 61.7p. Looks fantastic value to me. Hope the trend changes soon!!

[brucie5] 21/8/2024 15:51

Added. We might fall further to 60p for a double bottom but in value terms that would make no sense. Sooner or later I see this following similar trajectory to TCAP and PAY. It scores a 99 on Stocko Quality as well as Screen of Screens. Then we have further possibility of special dividends and of course that Panmure Gordon TP of 1.40 - be that as it may.

I'm in no hurry.

[brucie5] 06/8/2024 15:30

Yup, I realise.

[yasrub] 06/8/2024 13:16

The date of the post was nearly a week ago not with reference to the Friday onwards wider market movement.

[brucie5] 06/8/2024 11:58

Weakness, what weakness..?
Resilient over last few days.

[yasrub] 30/7/2024 12:58

Surprised at weakness?

[robsy2] 29/7/2024 11:06

From the Edison report this morning.
Performance fees were again very strong at £1.6m for the quarter. Record generated strong performance fees of £5.8m in both FY23 and FY24 and our forecasts assume a conservative £2m ‘normalised217; rate in FY25 and FY26. The environment for generating performance fees has been much more supportive in the last couple of years as central banks reversed extremely accommodative monetary policy, and as geopolitics and deglobalisation have become more prominent themes. Modest policy rate cuts expected by the market in the second half of CY24 should not completely reverse this better environment. Record trades at 14.5x and 12.6x our FY25 and FY26 EPS estimates, respectively, while paying an attractive dividend due to its strong balance sheet and cashgenerative business.


While the environment to earn performance fees is improving they are being very conservative forecasting them.this suggests we are more likely to have surprises than shocks to earnings going forwards.

[brucie5] 26/7/2024 08:40

1.40 would be very satisfactory. I bought back at start of this week and am very happy to see this chart unfold. Well screened on Stocko and just the sort of cash generative business that seems to suit this market revival.

Last year this at the 90 level. Maybe a more realistic target short term.

[konradpuss] 26/7/2024 07:35

The last time Simon Thompson in the I.C. wrote about Record after the results he moved them to hold. Panmure Liberum obviously do not agree. That's what makes a market!

[robsy2] 26/7/2024 07:12

Yes I thought the same CNC!
Also of note of course, apart from the nice tick up this morning, is the 3.05p of divis that will arrive this time next week , that is approx 5% of the share price