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Record (REC) investor relations material
Record H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Specialist asset manager with $114.6bn AUM, focusing on institutional clients and complex solutions.
40+ year track record, leading in derivatives, FX, and structured solutions.
FY26 marked by disciplined cost management and strategic growth in Private Markets.
Financial highlights
Revenue declined 4% year-over-year to £40.1m, mainly due to lower management and performance fees.
Operating costs reduced by 2% to £30.4m, supporting margins.
AUM increased 14% to $114.6bn.
EPS fell 22% to 3.92p; ordinary dividend per share at 3.60p, payout ratio 92%.
Profit after tax dropped 23% to £7.0m, reflecting a normalized tax rate.
Outlook and guidance
FY27 started with strong momentum and new mandates expected to add £4m to revenue.
Focus remains on Risk Management, Absolute Return, and Private Markets, targeting balanced revenue split.
- AUM hit $106bn, profit after tax rose 5%, and a €1.1bn infrastructure fund was launched.REC
H1 202519 Jun 2026 - AUM reached US$114.6bn with net inflows, but asset and FX headwinds tempered growth.REC
Q4 2026 TU24 Apr 2026 - Record AUM of $102.2bn, stable profits, higher dividends, and a strategic IT refocus.REC
H2 20243 Feb 2026 - AUM reached $102.7bn with strong performance fees and stable fee rates in Q1-2025.REC
Q1 2025 TU3 Feb 2026 - AUM reached US$106.0bn, with growth led by FX gains and stable fee rates.REC
Q2 2025 TU3 Feb 2026 - Performance fees surged and AUM hit $100.5bn, with revenue set to surpass expectations.REC
Q3 2025 TU3 Feb 2026 - AUM reached $100.9 billion, with strong risk management amid volatile currency markets.REC
Q4 2025 TU3 Feb 2026 - Record AUM of $115.9bn and strong inflows drive higher Q3 performance fees.REC
Q3 2026 TU23 Jan 2026 - AUM held above $100bn, EPS up 4%, and Private Markets pipeline supports future growth.REC
H2 202516 Nov 2025
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