Record Share Discussion Threads

[konradpuss] 29/6/2022 16:36

Macc there is a free research doc. on the Record Plc web site produced by Eddison and paid for by Record. This should give you their opinion.

[macc2] 29/6/2022 16:19

Are there any predictions as to what AUME will be at 31st March 2023?

[manrobert] 28/6/2022 12:54

the last 3 reported sells are buys.mine is one of them

[cerrito] 22/6/2022 11:16

I would encourage you to listen to the IMC presentation.
Very positive.One cloud was their comment that while inflation impacts their costs it does not automatically increase their revenue but then of course if you think that sterling will be week not such an issue.
Well done to those who bought on Monday.
Too bad that yesterday I was tied up so could not focus on the results. I just went to buy but saw the price and thought I would allow things to settle down but zero desire to sell.

[retsius] 21/6/2022 22:10

ST says : Buy in today’s IC.

[konradpuss] 21/6/2022 21:10

Rather be here than Alpha FX with all of its exposure to the FX market and lending book.

Record wins even when it loses - well not in the long run.

I think the market has been quite harsh of late to the share price - perhaps it is just a reflection of the 'risk off'.

Well I am a long term holder.

[topvest] 21/6/2022 20:41

Yes, excellent results. I am certainly staying on board. It's very promising.

[trident5] 21/6/2022 08:40

Banging results, presumably all the world's uncertainties in the last quarter has attracted more hedging activity, alongside a good start to their expansion into other areas.

[robsy2] 21/6/2022 08:30

Excellent results. Interesting that Leslie suggests turnover could increase to 60m by 2025 from 2022 figure of 35.1m and with increased margins.

[dogwalker] 18/6/2022 12:58

The market must view them as likely to be disappointing, judging by the share price breakdown recently.
I expect the results to be in line.

[retsius] 17/6/2022 15:41

Any views on Tuesday’s results?

[konradpuss] 08/5/2022 15:12

Simon Puffer in the I.C. this week writing about Record Plc. He concluded confirming a buy and stating Pamure Gordon had a target price of £1.05 The stock did not move.

Probably good for people buying anew or topping up.

[topvest] 05/5/2022 17:31

Presumably, current interest rate differentials between the US and Euro are setting up the currency for return products for a stellar year, if they can get some net inflows.

[topvest] 22/4/2022 12:00

This is the main principal around currency for return - i.e. exploiting interest rate differentials around the world.

[topvest] 22/4/2022 11:59

This point is the particularly interesting one, given what is going to happen with interest rates imminently:

"Performance fees of £0.5 million were earned in the quarter from opportunities arising from recent increases in interest rate differentials linked to changes in central banks monetary policies."

[wolsey] 22/4/2022 08:54

Decent trading update. Of particular note:
1. Increased inflows to the higher margin Dynamic Hedging product since financial year end (up to possibly USD 2bn by end first half of current financial year)
2. Performance fees of GBP 0.5m for the quarter

I am interested to get the thoughts of others on progress over the past year or two.

[trident5] 22/4/2022 08:27

Yes TV - the interesting snippet in the RNS was about the interest rates. Things would get interesting here if the carry trade returned and their clients fell for it.

[topvest] 22/4/2022 08:13

Well I think its positive, particularly post year-end with the US$2bn dynamic hedging inflow. The £0.5m performance fee in the quarter and net inflows in the quarter are also very positive compared with other asset managers. The critical points for me are 1) growth in higher margin products; and 2) whether there is likely to be materially increased appetite for currency for return type products given the interest rate dynamics in 2022 across the developed world. It's currency for return where they used to make enormous profits before and after IPO in a more normal interest rate environment.

Point 1 is partly factored in to the valuation and is enough to buy the shares and have good forward profitability growth. Point 2 is more of a long-shot, but if it happens will generate a multi-bagger on the share price.

[robsy2] 22/4/2022 07:13

Can't see much to get excited about with these results though as you say Topvest, margins should be improving with higher margin products being sold but costs have also increased substantially as well with (from memory) higher spend on salaries,tech upgrades + a new office. There are also substantial costs involved in handing the business over to the next generation. A Hold at best for me.

[topvest] 22/3/2022 09:51

I've added a few more. It will be interesting to see whether the diversification strategy improves margins. Interest rate increases may also significantly assist the original currency for return strategy that has been lying low for a decade or so.

[konradpuss] 15/3/2022 20:46

Well this must be a record (now did you see what I did there?) 8 shares went through the market today.

The volumes have been very low of late.

I wonder if there would be any bidders for a large block in such a market?

[cockerhoop] 21/1/2022 08:02

This describes the fund pretty well, short term loans to European municipalities juiced with short term loans on receivables debt from Euro blue chips.

[trident5] 17/1/2022 22:32

Today's RNS says Record is the asset manager with EDS (?), Universal seems to be providing the admin.
I think they could make it clearer. I mean how much currency advice does a Euro fund need if investors are based in Europe and UK and assets in Europe- there's effectively only one currency pair to worry about and if you can't predict future currency prices (and no-one reliably can) then you only have a hedge to worry about - which probably could be done on a single Excel sheet.

[cerrito] 17/1/2022 22:28

The way I read it is that it is a fund composed of Euro assets being marketed to German investors so not sure where the currency angle is