Record Share Discussion Threads

[rossco] 17/10/2021 14:02

TU is due to be announced on Friday 22nd October.

[cockerhoop] 16/10/2021 22:01

It launched in Q1 with $0.8bn AUM.

Record EM Sustainable Finance fund successfully launched in strategic partnership with UBS Global Wealth Management; delivering product diversification and higher margins.

[cerrito] 16/10/2021 19:30

Thanks from me as well, Wolsey.
I assume that in the next few days we will get the TU and be interesting to see if the new EM sustainable Fund is ready to go.

[cockerhoop] 12/10/2021 20:09

His timing wasn't great when he sold 4,000,000 shares at 37.3p last September ;-)

[konradpuss] 12/10/2021 19:23

Neil Record has a nack for good timing.

Obviously succession plans are relevant although my guess is that these will eventually be over run by a sale of the whole company.

[trident5] 12/10/2021 13:43

Thank you Wolsey; must admit I hadn't paid this matter much attention. My feeling is that any new management would find it easy to take out a lot of salary cost that has built up in their business model (just compare client and staff numbers over the years), but perhaps more challenging - to grow revenue.

[robsy2] 12/10/2021 12:26

Good analysis. I agree.

[wolsey] 12/10/2021 12:19

The narrative from Record over the last couple years has been centered around succession planning. While not pointing directly to the departure of Neil Record, I am taking this as an item front of his mind.

The following specific references coming to mind:
- Out-takes from the latest annual report "The two imperatives set out by the Board last year were to orientate the firm for growth, through a programme focused on both modernisation and diversification, and to establish a plan for succession in the most senior executive posts at Record"..."The Committee plans to focus on the specification of the future role profile for the Chief Executive Officer with consideration of the business transition taking place and what the Record Group of tomorrow will look like to facilitate succession planning for both the Chief Executive Officer and Chair roles."
- I recall the opening commentary by Leslie Hill at the investor presentation in June of this year as having a number of specific remarks to succession planning and their work behind the scenes. While giving no details the remarks stood out to me.
- The appointment of Krystyna Nowak to the Board last month and the commentary from Neil Record on her appointment "Her expertise in succession planning will be a particular bonus in this period of transition for Record."

I may well be reading too much into this and nothing may be on the cards near term however I would be sure an exit of some kind is at the front of Neil Record's agenda. I would imagine Leslie may be enticed by a similar prospect and thus their focus and agenda is united. It could give rise to interesting possibilities for Record over the near term.

[trident5] 12/10/2021 09:29

Could you elaborate on the signals.

[wolsey] 12/10/2021 07:06

Record an enticing prospect at these levels. Short termers getting shaken out. Underlying business performance, AUME and client numbers remains on a strong upward trajectory. I did read the Sustainability fluff report - and have just ignored it :)
The key for me is seeing some evidence of management building upon recent AUME mandate wins/new products getting traction. Management have been giving clear enough signals for a while now that they are positioning for a significant succession event/sale of some kind which is nice to have in the background.

[trident5] 05/10/2021 10:17

Has anyone read the Sustainability Report? All I got was: WFH = fewer emissions.
Greta Thunberg was bang on - blah, blah blah.

[davidosh] 27/9/2021 17:04

Record will feature on the Mello BASH this evening

Tonights show use code MelloGuest0706 for a complimentary ticket

[robsy2] 27/9/2021 09:55

Management are focussed on succession. It is mentioned regularly and they seem to be revving things up sales wise, opening up their offering, investing in the company and their people so maybe succession means more than renewal of management and refreshing the company. Maybe it also means a change of ownership and renewal of the major shareholders.BOD holds 40%+ with Neil Record himself holding 29% and Leslie Hill 8% and they are 68 and 66 years old respectively.Again pure speculation on my part.

[konradpuss] 24/9/2021 20:45

Two high volume days.

Who is buying, who is selling?

No RNS.

[robsy2] 20/9/2021 08:51

Intriguing couple of posts Konrad.The share price is bucking the market as well. Any more thoughts?

[konradpuss] 18/9/2021 19:31

I think Neil Record has a good track record (did you see what I did there!) on timing. Just take the initial float of Record Plc.

I further think there is a fair chance of a takeover - with his approval mind.

Alpha FX has been mentioned by others - I think it will be another fund manager or even a bank. However this is pure speculation.

[wolsey] 18/9/2021 18:45

The addition of the expertise of Krystyna Nowak to the Board is another positive on the back of a solid last 12 months in terms of good strategy/business progress. I ponder what Neil Record has in mind in terms of timeline to his own exit. The stock has always traded a little unusually from my experience over the last few years since - large drops pre-close etc on no news. The quirks of the microcap space!

[konradpuss] 04/8/2021 18:58

Big volume today.

I would not be surprised if there is an RNS shortly.

[konradpuss] 03/8/2021 18:54

Melton John, I am a long time holder and topped up today. There is no new information as far as I know. It's August!

[melton john] 03/8/2021 10:08

Everything was fine until the stock went XDIV 1st JUL then the smart money moved out to make a profit somewhere else until near the next dividend. As far as I can see the majority of sells are automatic algo driven where instis move money daily. Some decent size (private??) buys happening too. I'm not worried, still a hold for me and getting closer to buying some more if the price gets any more tempting even though I have plenty.

[legrada1] 03/8/2021 09:02

Stock is down over 10% in the last couple of weeks. Why the change in sentiment?

[trident5] 16/7/2021 22:06

There's no meaningful comparison really.

The key inputs would be: selling/marketing prowess, relationships with investment advisors and fees. The only objective comparator is the level of fees, the rest is largely BS.

[konradpuss] 16/7/2021 20:06

I always wonder how good is Record at what they do?

I guess it is down to Neil Record who is obviously extremely bright in whom I trust.

I imagine it is track record? So say a fund based in Switzerland wants to hedge because they mainly invest outside Switzerland, they call in Record and say J.P.Morgan (hedging department), how does the client compare the two?

[cockerhoop] 01/7/2021 10:22

Leslie Hill last night confirmed during the Investormeet presentation the EM Sustainability Fund would have fees in the mid double digit bps. So perhaps around 50bps