Share Name Share Symbol Market Type Share ISIN Share Description
Record LSE:REC London Ordinary Share GB00B28ZPS36 ORD 0.025P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.55p +1.12% 49.75p 49.30p 50.20p 49.30p 49.30p 49.30p 50,032 16:35:27
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 23.9 8.7 2.9 17.1 99.03

Record Plc Share Discussion Threads

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sold did well may have sold too soon but did well in five months with div and gain
Tipped by Simon Thompson in his 2018 bargain shares: hTtps:// "Record retains £26.6m of net cash on its balance sheet, a sum worth 13p a share, albeit £8.9m of its cash is required for regulatory capital. As a result of its balance sheet strength, the board is able to return all of its net profits to shareholders, which is why analysts at Edison Investment Research predict a total payout of 3.1p a share for the 12 months to end March 2018, up from 2.9p in the 2017 financial year. This implies the shares offer an attractive prospective dividend yield of 7.1 per cent, and are rated on a modest cash-adjusted PE ratio of 10. Importantly, there is potential for upside to Record’s profits in the 2018-19 financial year given the likelihood of increased volatility in currency markets linked to both political and economic events."
Edison review of REC here - One may need to register but it's free.
Their continuous inability to win new mandates is quite shocking - marketing/sales team need a major shake up
Here is my interpretation of Record results: Asset under management increasing to $61.2bn is another record high, as Record (no pun intended) continues their recovery for the fifth year in a row. However, 85% of this fund is allocated to “Passive Hedging”, a product that earns Record the lowest amounts, in terms of basis points. That is 3 basis points or 0.03% of allocation fund size., down from 4 basis points. This compares to their dynamic hedging (14 basis points), Multi-product (18 basis points) and Currency for Return (17 basis points). All these other products earn 4 times more than passive hedging. But, their fund sizes compared to passive is 20 times smaller! Which is why passive hedging has contributed 53% of the management fee. For further interpretation and a historical perspective of Record, click
Morning All Good set of results, margins a bit lower but turnover is up and so is EPS, even after stripping out the effect of the share buy-back. The divi up 40%, and shows their commitment to returning excess cash to shareholders. Good progress I'd say. I would think this will be well received. 60p here we come! Best R2
brought in again funny same time as last year on the back on IC did well sold too soon that was the only problem hope it can get over the 50p and stay there we see
Just tipped by Simon Thompson online Investors Chronicle
It's Thursday tomorrow.
Anniversary of 1987 Black Monday tomorrow.
Why the fall?
its the oxman
Yep I see 70+ by end of next week.
Looks like new recent highs....
The recent rapid rise was due to reiterated 'buy' recommendations by Simon Thomson of IC
entering new water. In here for the long term. great company. could see upwards of 70p I believe
Interesting increase in activity in this share - began gently on 24th Aug and has picked up considerably in the past two sessions. Recently, until and including 23rd Aug, typical trades were up to a dozen of so a day. Since then it has usually been 40+ and the balance has been net buys. As a newcomer, is this a cyclical feature or are we entering new water? Price action is looking like a repeat of mid-June.
The sales team have been out earning their corn again!
OOPS - Thank you WJCCGHCC - Totally misread note and confused with another comapany. I have deleted my original comment to avoid confusing anybody else!
boadicea, they're tendering to buy back shares, not issue new ones.
[Erroneous comment deleted].
I was hoping that Maynard Patton would do a write-up: hxxp:// It is well worth reading Maynards blog. You have to follow him on Twitter. (Maynard - Can't you add an email subscription function?)
From Shares Magazine yesterday; Make hay from currency fluctuations with Record Would you like to own shares in a company that is sitting on piles of cash, is prepared to return it you at regular intervals and has also been growing at a fair lick? We give you Windsor-based Record (REC). The company helps large institutional investors such as pension funds reduce the risk of losing money due to changes in the values of currencies. The largest part of the business, passive hedging, seeks to eliminate the impact of currency movements when a firm’s revenue is dominated in foreign currencies. MODEL GAINING CURRENCY Record’s multi-product strategy combines currency hedging with forex trades in an attempt to generate returns for the client. It also offers dynamic hedging, or active currency management, where the firm decides if a currency movement is going to result in a loss for its client or not. The company’s chief executive James Wood-Collins says ‘the business thrives on turbulence, uncertainty and political change which all impact the currency markets’. But you don’t need to know the intricacies of how currency BROKER SAYS: markets work to realise that Record is good investment; it’s clear in the numbers. Record’s results for year ending March 31 2017 show a business on the up and up. Its assets under management equivalent hit a record high £46.6bn. ‘Equivalent217; because unlike other asset managers, it doesn’t hold any physical securities for its clients like stocks and bonds. RECORD IS A CASH COW It’s a problem we’d all like to have, what do I do with all my excess money? There’s no point leaving it in a bank with very low interest rates so Record has various options, all potentially good ones for investors. The company is sitting on cash of £29.2m of which all it needs to satisfy regulatory requirements is around £9m. Record is paying out a £2m special dividend for its last financial year, or 0.9p a share. The 2p ordinary share is up 20% from 2016 and the company says this is not a one off. It is aiming to return to shareholders any excess of earnings over the sum of ordinary dividends in the form of special dividends. So you have an income which could reach a yield near to 6% if Cenkos analyst Rae Maile is correct in his projections and a company with a not too racy 12.9 times forecast earnings ratio for the year ending March
Thank you for replies, my holding is to small at the moment to consider taking part, in fact i was looking to add, if as you say there are less shares then that should in the end result in a higher share price Thanks again.
I think the tender is an excellent idea. The only criticism is that it should have been done earlier. If you tender the exact amount allocated to you (c 10%) you will end up with 10% less shares but the same percentage of the company as you held before. The shares purchased by the company will be cancelled. If profits remain the same as last year the impact of cancelling these shares by the company means that the EPS will increase by 10%. Cash held generally has little effect on the valuation. So I believe that this scheme will likely lead to a rise in the share price all things being equal. If you can sell your (10%) shares in the market at a higher price than the tender offer then that is a better choice. Neil has offered to sell additional shares at the tender price if there are a lack of shares offered for tender. Given the poor liquidity in the shares, the tender is a rare opportunity to sell a large number without hitting the share price. I suspect the MM's will keep the price in check so that there is not much difference between the price XD and the tender offer. As an aside, REC looks at long last to have turned the corner. Its business should do well in these volatile markets and if it pays out all its Earnings in dividends we will be getting a dividend around 7% and still the prospect for further share repurchases.
Well, I was anticipating a special dividend. I would guess that is not tax efficient for the big holders, so they have opted for a tender offer instead. Other tender offers I have seen have been at a premium to the current share price to 'reward' shareholders & encourage then to tender. In that case the leavers benefit at the expanse of the remainers, but if every body gets the same offer, that's ok. We might get a better idea of their motivations when we see what the big holders are doing (Presumably they will reveal their intentions in the full documentation). 2 possibilities I can think of: 1. They want to reduce their participation & sell shares for cash. They couldn't manage this in the market. 2. They want to increase their participation as others sell shares for cash. Vote of confidence in the business. I've been holding shares here for years. I would have been glad to get a special dividend, but I'm not tendering at these levels. As the share price is now above the tender price it would be pointless anyway. So I guess the big holders will be tendering otherwise the whole thing is pointless. Looks like the only benefit here for small holders will be a slightly higher EPS going forward. woo-hoo.
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