- Specialist currency manager Record said it had been selected for a dynamic hedging mandate of about $8bn in size.

The annualised fee rate for the mandate was consistent with Record's other dynamic hedging mandates, based on the size of allocation, the company said

'Assuming contract negotiations conclude successfully, this mandate will build up over time and will be revenue-generating by the end of this calendar year,' it added.

Record said it would announce a second-quarter trading update on 19 October and its half-year results on 24 November.

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