TIDMREC 
 
RNS Number : 3374Z 
Record PLC 
21 September 2009 
 

 
 
FTSE Group and Record plc launch first in the range of Currency FRB Indices 
21 September 2009:Record plc announces that FTSE Group ("FTSE"), the award 
winning global index provider, and Record Currency Management ("Record"), the 
specialist currency investment manager, have today launched the first set of 
indices within the new and innovative FTSE Currency Forward Rate Bias (FRB) 
Index Series, allowing investors to access this alternative beta within FTSE's 
range of alternative indices. 
 
 
The new FRB5 indices utilise the five most widely-traded currencies (US Dollar, 
Euro, Japanese Yen, Pound Sterling and Swiss Franc) in a forward rate bias (also 
referred to as 'carry') strategy. Forward rate bias is the observed tendency of 
higher interest rate currencies to outperform lower interest rate currencies. 
This outperformance is captured through a series of rolling one-month forward 
contracts, equally-weighted across all ten currency pairs. 
 
 
The indices come at a time when investors are increasingly looking at 
opportunities for diversification. Research from Record shows that FRB provides 
a fundamental and sustainable return stream that rewards the risks associated 
with holding higher interest rate currencies. With a low long-term correlation 
to other asset classes such as equities and bonds, the indices uniquely allow 
investors access to a pure source of alternative beta in currency markets. Based 
on market spot and forward prices going back to 1978, the index series is one of 
very few to demonstrate a long-term return over 30 years that is comparable to 
that of global equities and superior to that of global bonds, with volatility 
comparable to bonds and lower than equities.  The annualised return of the FTSE 
Currency FRB5 total return index in USD is 9.7% p.a. since 1978. 
 
 
Neil Record, Chairman and CEO of Record, said: "The FTSE Currency FRB Index 
Series will enable investors to develop new diversification strategies as the 
series returns show low correlations with established asset classes such as 
equities and bonds. Taken together with the scalability inherent in the currency 
markets and the universe of investable managers, this should help the investment 
community recognise the currency forward rate bias as an alternative beta." 
 
 
Imogen Dillon Hatcher, Executive Director of Global Sales at FTSE said: "The 
Foreign Exchange market is the largest market in the investment world, with USD 
3 trillion traded daily, allowing for both retail and wholesale investment. FTSE 
is committed to offering investors a complete suite of index products to measure 
and analyse all facets of the investment landscape. The FTSE Currency FRB Index 
Series will allow clients to access the currency market and has been created in 
response to market demand." 
 
 
The new indices will be calculated on a fully-investable basis and published 
daily by FTSE (both excess return and total return) and are the first in a range 
of currency indices that FTSE and Record will work together on.  These indices 
can be used for portfolio construction, index-tracking management, including 
within financial products such as ETFs, and benchmarking active currency 
strategies. 
 
 
- Ends - 
 
 
 
 
For more information or data regarding the index series contact: 
 
 
FTSE Group 
New York 
Jill Mathers, Tel: + 1 212-314-1141 or email media@ftse.com 
London 
Sabrina Bhangoo / Mittal Dave Tel: +020 7866 1821 or email media@ftse.com 
Hong Kong 
Meredith Blakemore / Emily Mok, Tel: + 85 222 305 801 or email media@ftse.com 
Tokyo 
Stewart Ueno, Tel: +81 3 35 81 3444 or email media@ftse.com 
Australia 
Natalie Brooke, Tel:  +61 2 92 93 2867 or email media@ftse.com 
 
 
Record plc 
Neil Record / Carl Beckley / James Wood-Collins: Tel +44 (0) 1753 852 222 
 
 
Hogarth Partnership: Nick Denton / Julian Walker Tel +44 (0) 207 357 9477 
 
 
 
 
Notes to Editors 
 
 
The FTSE Currency Forward Rate Bias Index Series - FRB5 Indices factsheet can be 
found at www.ftse.com/forex. 
 
 
More information about FTSE and its global offering can be found at www.ftse.com 
and about Record at www.recordcm.com. 
 
 
About FTSE Group 
FTSE Group ("FTSE") is a world-leader in the creation and management of indexes. 
With offices in Boston, Beijing, London, Frankfurt, Hong Kong, Madrid, New York, 
Paris, San Francisco, Sydney, Shanghai and Tokyo, FTSE works with investors in 
77 countries globally. It calculates and manages a comprehensive range of 
equity, fixed income, real estate and investment strategy indices, on both a 
standard and custom basis. The company has collaborative arrangements with a 
number of stock exchanges, trade bodies and asset class specialists around the 
world. 
 
 
FTSE indexes are used extensively by investors world-wide for investment 
analysis, performance measurement, asset allocation, portfolio hedging and for 
creating a wide range of index tracking funds. 
 
 
 
 
About Record plc 
Record plc (including its subsidiaries, "Record") is a specialist currency 
investment manager and provider of currency hedging services for institutional 
clients. Founded in 1983, Record has established a market leading position as a 
currency asset manager. Specifically, Record has a leading position in managing 
currency for absolute return for institutional clients. 
 
 
Record has three principal product lines: 
- currency for absolute return, in which Record enters into currency contracts 
for clients with the objective of generating positive returns; 
- active hedging, where Record seeks to eliminate the impact of currency 
movements on elements of clients' investment portfolios that are denominated in 
foreign currencies when these movements are expected to result in an economic 
loss to the client, but not to do so when they are expected to result in an 
economic gain; and 
- passive hedging, where Record seeks to eliminate fully the economic impact of 
currency movements on elements of clients' investment portfolios that are 
denominated in foreign currencies. 
 
 
Record (LSE: REC) was admitted to trading on the London Stock Exchange on 3rd 
December 2007. 
 
 
This announcement includes information with respect to Record's financial 
condition, its results of operations and business, strategy, plans and 
objectives. All statements in this document, other than statements of historical 
fact, including words such as "anticipates", "expects", "intends", "plans", 
"believes", "seeks", "estimates", "may", "will", "continue", "project" and 
similar expressions, are forward-looking statements. 
 
 
These forward-looking statements are not guarantees of Record's future 
performance and are subject to risks, uncertainties and assumptions that could 
cause the actual future results, performance or achievements of Record to differ 
materially from those expressed in or implied by such forward-looking 
statements. 
 
 
The forward-looking statements contained in this document are based on numerous 
assumptions regarding Record's present and future business and strategy and 
speak only as at the date of this announcement. 
 
 
Record expressly disclaims any obligation or undertaking to disseminate any 
updates or revisions to any forward-looking statements contained in this 
announcement whether as a result of new information, future events or otherwise. 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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