Record (REC) Q4 2025 TU earnings summary

Executive summary

• Assets under management (AUM) rose by $0.4 billion to $100.9 billion as of 31 March 2025, driven by positive exchange rate movements despite modest outflows and market changes.

• Performance fees of £0.3m were recognized in Q4, totaling £3.2m for the full year.

• Full year revenue expectations remain unchanged.

Financial highlights

• AUM at quarter-end was $100.9 billion, up from $100.5 billion at the end of December 2024.

• Average fee rates remained broadly unchanged from the previous quarter.

Outlook and guidance

• The business is confident in its positioning, citing strong risk management offerings and a robust balance sheet.

• No change to full year revenue expectations.

• Results for the 12 months ended 31 March 2025 will be announced on 20 June 2025.