Record Currency Management wins new FX Alpha and Frontier Market mandates

LONDON--(BUSINESS WIRE)--Record Currency Management Ltd (RCM), a subsidiary of London-listed Record plc (Record Financial Group), is pleased to announce that it has been awarded two new mandates of strategic importance – an FX Alpha mandate and an FX Frontier mandate.

RCM is the UK currency management arm of Record Financial Group, the London-listed specialist investment group managing over USD 122 billion of assets on behalf of institutional clients worldwide. Record’s client base comprises pension funds, foundations, sovereign institutions and other asset managers, with whom the Group has built long-standing relationships through its focus on bespoke investment and risk management solutions. Headquartered in London, Record has offices in Hamburg, Zurich, Zug, New York, and Hong Kong.

For institutional investors, currency can represent both a source of risk and a potential source of differentiated returns. Live since 2012, Record’s FX Alpha strategy aims to deliver attractive risk-adjusted returns without capital outlay under varying market conditions, while being uncorrelated to traditional asset classes. The new FX Alpha allocation reflects a mandate size of USD 3bn and is tailored to complement the investor’s existing currency risk management mandate with Record.

The new FX Frontier mandate is expected to grow substantially from an initial allocation of USD 80m. It builds on Record's existing Emerging Markets Sustainable Finance (EMSF) strategy and supports important sustainable projects in Sub-Saharan Africa.

Dr Othman Boukrami, CEO of Record Currency Management (RCM), commented:

"We are delighted to receive a substantial additional allocation to our FX Alpha strategy, taking the total AuM in this product to over USD 12bn. FX Alpha is a key part of our Absolute Return offering. The new FX Frontier mandate marks an important development, further extending Record's FX expertise work into Sub-Saharan Africa."

Dr Jan Hendrik Witte, CEO of Record Financial Group, commented:

“Both new mandates demonstrate the continued evolution of RCM and its contribution to Record's growth across its Absolute Return and Private Markets pillars. These pillars are targeted to represent around half of Group revenue over the coming years, providing an increasingly diversified Group. I am particularly pleased to see Othman’s frontier market expertise and leadership translating into a new mandate win so quickly. It is a strong endorsement of both the opportunity and the capabilities we have within the Group.”