Record PLC (LSE: REC), a leading specialist in currency and asset management, reported record-high assets under management (AUM) of $110.3 billion for the half year to September, reflecting continued strategic progress despite a 9% decline in revenue following the loss of legacy mandates. The Group maintained tight cost control with operating costs down 4%, preserving a robust balance sheet and sustaining an interim dividend of 2.15 pence per share. Record is advancing its transformation toward higher-margin, recurring-revenue streams through its expanding private markets and infrastructure investment platforms, including the first deployment from the €1.1 billion Record Infrastructure Equity Fund and the upcoming $1 billion Sharia-compliant supply chain finance fund. Private markets, though representing less than 1% of total AUM, now generate 16% of revenue, demonstrating the strong profitability of this business line. Core risk management and absolute return strategies remain stable, while the fast-growing Solutions for Asset Managers platform achieved a 40% increase in AUM to $17.2 billion, driven by institutional demand for tailored FX and interest rate hedging solutions. With a clear growth strategy focused on diversification, innovation, and operational excellence, Record PLC is evolving into a more resilient and profitable asset manager, supported by a strong order book, expanding EBITDA margins, and a robust pipeline across private credit, infrastructure, and emerging markets, positioning the Group for sustained value creation and long-term shareholder returns.