Record PLC on Friday reported an increase in assets under management in the financial year just finished but said the pace of net inflows slowed.

The Windsor, England-based currency and derivatives manager said in the 12 months ended March 31 assets under management equivalent increased 17% to $102.2 billion from $87.7 billion the year before.

Net inflows were $6.8 billion for the year, down 25% from $9.1 billion before. Performance fees of £5.8 million were unchanged.

Chief Executive Jan Witte said: ‘I am excited to take over the reins as CEO at a time when the group’s AUME has reached new heights and the outlook for our business remains strong.’

Witte pointed out AUME had breached the $100 million mark for the first time in its 40-plus year history.

‘Our growth is the result of a combination of increased demand from existing clients, who are increasing their mandates, and new clients,’ Witte pointed out.

Shares in Record 1.9% to 62.58 pence in London on Friday.

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