- Specialist currency manager Record said its assets under management equivalents (AUME) at Dec. 31, 2016, totalled $56.6bn, from $55.0bn at Sept. 30, 2016.

Expressed in sterling, AUME at end-December 2016 was £45.8bn, from £42.4bn at end-September.

CEO James Wood-Collins said that US dollar strength dominated the second half of the quarter, following the seemingly-unexpected result of the US presidential election in early November.

"The more divergent paths now appearing between the policies of major Central Banks was underlined by the Federal Reserve's decision to raise the base rate by 0.25% in December, contrasting with the ECB decision in December to extend the QE programme and by the Bank of England's decision to reduce the base rate in the preceding quarter," said Wood-Collins.

"The recent referendum result in Italy, plus forthcoming elections in the Netherlands, France and later in 2017 Germany, continue to remind investors of the ongoing event risk in foreign-exchange markets," he added.

"Against this backdrop, it's pleasing to report flows into multi-product and hedging products during the quarter.

"Such volatility and uncertainty in markets continues to provide opportunities for Record to discuss both its return-seeking and risk-reducing products with current and potential clients."

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