Record (REC) Q3 2026 TU earnings summary

Executive summary

• Assets under management (AUM) reached a record high of $115.9bn for the quarter ended 31 December 2025, driven by positive net flows and asset growth.

• Strong inflows were reported in Passive Hedging and FX Alpha strategies, with FX Alpha seeing a second consecutive quarter of inflows.

• Performance fees for Q3 FY26 totaled £1.6m, with year-to-date performance fees at £2.4m.

Financial highlights

• AUM increased from $110.3bn at 30 September 2025 to $115.9bn at 31 December 2025.

• Q3 FY26 performance fees of £1.6m, up from £1.3m in Q3 FY25; year-to-date performance fees of £2.4m, down from £2.9m in the prior year.

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

Outlook and guidance

• Earnings expectations for the current financial year remain unchanged.