Record Currency Management

What Record Currency Management does

Record Currency Management, now operating as Record Financial Group, is a UK-headquartered specialist asset manager founded in 1983 and publicly listed on the premium segment of the London Stock Exchange since 2007 under the ticker REC. The firm delivers currency management and investment solutions to large institutional investors — pension funds, sovereign wealth funds, insurance companies, and asset managers — through a three-pillar platform: Risk Management (Passive Hedging and Dynamic Hedging), Absolute Return (FX Alpha and Custom Opportunities), and Private Markets (Solutions for Asset Managers, EM Local Debt, Infrastructure Equity, and Private Equity and Credit). As of 31 March 2026 the firm managed $114.6 billion in assets under management and employed 103 people across four global offices.

The company generates revenue primarily through management fees on AUM (subscription/recurring) and performance fees on strategies that outpace their targets (usage-based). Distribution is enterprise-led via direct institutional sales, with a recent strategic partnership with Khalij Group extending reach into Middle East and Southeast Asia via a Sharia-compliant platform branded Record Amanah. AUM growth and strategic expansion into private markets and Sharia-compliant products are partially offset by fee compression in the broader asset management sector, as evidenced by a 4% revenue decline and 22% EPS decline in FY2026 despite 14% AUM growth.

Record's proprietary technology stack centers on quantitative currency risk management methodologies — passive and dynamic hedging frameworks plus an FX alpha strategy targeting absolute returns from foreign exchange. Private markets capabilities include direct infrastructure equity investments in essential assets such as TenneT Germany, Pattern Energy, and NorthC. Headcount efficiency is high: 103 specialized professionals supporting over $114 billion in AUM, with new product initiatives (Record Amanah, Infrastructure Equity fund expansion from 4 to 8 Swiss pension funds) providing forward-looking growth optionality.

Name

Record Currency Management

Legal name

Record Financial Group

Website

https://recordcm.com

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

51–100 employees

Short description

Record Financial Group is a UK-listed specialist currency and asset manager founded in 1983, serving large institutional investors with $114.6 billion in AUM across currency hedging, absolute return, and private markets strategies.

Ownership category

akta.pro rank

Headquarters

HQ city

Windsor

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Asset Management Fees: Management fees charged on assets under management. The company manages $114.6 billion in assets as of fiscal year 2026. Fee revenue is influenced by AUM levels and fee rate pressure in the asset management sector.
2. Performance Fees: Performance-based fees generated when investment strategies outperform benchmarks or targets. Strong inflows into Passive Hedging and FX Alpha strategies generated performance fees during recent quarters.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Record Financial Group (formerly Record Currency Management) is a specialist currency and asset management firm serving large institutional investors. It delivers currency risk management solutions (Passive and Dynamic Hedging), absolute return strategies (FX Alpha and Custom Opportunities), and private markets offerings (Infrastructure Equity, EM Local Debt, Private Equity and Credit). The firm manages $114.6 billion in assets as of 31 March 2026 and has operated for more than 42 years.

Product overview

Record Financial Group operates as a platform-plus-modules architecture delivering best-in-class currency and asset management solutions to large institutional investors. The core product portfolio consists of three main pillars: Risk Management (Passive Hedging and Dynamic Hedging), Absolute Return (FX Alpha and Custom Opportunities), and Private Markets (Solutions for Asset Managers, EM Local Debt, Infrastructure Equity, and Private Equity and Credit). The company also offers Record Amanah, a specialized sub-brand providing Sharia-compliant investment solutions through private markets and private equity structures aligned with Islamic finance principles.

Differentiator

Problem solved

Functional benefit

Brands

• Passive Hedging: Currency risk management solution
• Dynamic Hedging
• FX Alpha
• Custom Opportunities
• Infrastructure Equity
• Record Amanah

Products and services

• Passive Hedging Systematic currency risk management solution providing institutional investors with hedging against adverse currency movements. Forms the core of the firm's Risk Management offering.

Quantifiable outcome

• AUM grew 14% to $114.6 billion, reaching highest-ever levels
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Khalij GroupcoreStrategic or Co-development Partner · 8 July 2026Partnership to launch 'Record Amanah', a dedicated platform for Sharia-compliant investment solutions. The platform combines Record's institutional investment expertise with Khalij Group's Islamic finance specialization, initially focusing on private markets and private equity opportunities structured according to Islamic finance principles. The collaboration targets growing institutional investor demand in the Middle East and Southeast Asia regions.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Russell Investments: Global investment manager with a substantial currency overlay business serving institutional pension funds and asset owners, offering currency hedging alongside broader multi-asset solutions.
• Man Group: UK-listed alternative asset manager with absolute return and active quantitative strategies; comparable as a London-listed specialist manager with similar institutional client focus.
• Ashmore Group: UK-listed emerging markets specialist asset manager with similar institutional client base and emerging market debt products; comparable as a publicly listed specialist manager serving sophisticated institutional investors.
• PINE Investments: Specialist currency overlay manager offering passive and dynamic hedging solutions to institutional investors, directly competing with Record's core currency risk management franchise.
• Mesirow Financial Currency Management: Currency management division of Mesirow Financial providing passive hedging, dynamic hedging, and currency alpha strategies to institutional clients—the same product set as Record.

Broad incumbents

• State Street Global Advisors: Major global asset manager offering currency hedging alongside its broader ETF and multi-asset franchise; competes on scale and bundled service offerings rather than specialist currency expertise.
• BNY Mellon Investment Management: Large incumbent asset manager with a dedicated currency management group offering passive and dynamic hedging, competing with Record in institutional RFPs and overlay mandates.

Emerging players

• Brevan Howard: Macro-focused hedge fund manager generating absolute returns from FX and rates markets; competes for the FX Alpha and Custom Opportunities mandates at large institutional clients.

Regional players

• Jupiter Fund Management: UK-listed asset manager with comparable London listing, institutional client focus, and active investment strategies; competes for UK institutional mandates though not in currency overlay specifically.
• Liontrust Asset Management: UK-listed specialist asset manager with multi-asset capabilities; comparable in size and London listing though focused on equity and multi-asset funds rather than currency management.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/record-currency-management
• Xx.com/recordcurrency

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Record Currency Management