Record Currency Management Ltd (RCM), a subsidiary of Record plc, has announced its participation in a new bond deal issued by the European Bank for Reconstruction and Development (EBRD). This event aims to develop the capital markets of Mongolia and provides institutional investors with access to attractive opportunities in emerging markets.

RCM is a specialized currency management division within Record Financial Group, which manages assets worth $115 billion on behalf of institutional clients worldwide. Record's clients include pension funds, government institutions, and other asset managers, with whom the company builds long-term partnerships based on tailored investment solutions and risk management. Record is headquartered in London, with offices in Hamburg, Zurich, Zug, New York, and Hong Kong.

These investments are part of a broader strategy by Record Financial Group to expand opportunities in emerging and frontier markets, leveraging years of experience in currency risk management and institutional investments. The deal also coincides with the fifth anniversary of the flagship Record EM Sustainable Finance Fund, which was launched in 2021 and currently manages assets of around one billion dollars.

The deal includes the issuance of four-year EBRD bonds with a fixed interest rate linked to Mongolian tugriks (₮), and the proceeds will be directed towards supporting local currency financing initiatives that promote sustainable economic development and strengthen Mongolia's financial markets. The European Social Development Fund invested $20 million as part of the EBRD's Global Medium-Term Fixed Rate Bond Program with a rate of 9.75%.

The EBRD has actively supported Mongolia's development since 2006, helping the country transition to a more diversified and sustainable economy. The bank's activities cover areas such as infrastructure, renewable energy, agribusiness, finance, and corporate development, with a particular focus on strengthening local capital markets and expanding access to financing.

For institutional investors, financing in tugriks becomes an important tool for supporting sustainable economic growth, reducing currency risks for borrowers, and fostering the development of domestic financial markets. This helps to mitigate currency risks for companies and financial institutions, as well as improve financial stability.

Record's participation in this deal confirms the company's intention to develop specialized investment solutions in emerging and frontier markets, where deep market expertise and investment discipline can create attractive opportunities for clients.

“Emerging and frontier markets remain our strategic priorities. Our experience in currency and sovereign markets enables us to identify innovative investment opportunities that provide both attractive institutional characteristics and positive economic outcomes. We are pleased to participate in the EBRD deal, which contributes to the development of investments in Mongolia,” said Dr. Othman Boukrim, CEO of Record Currency Management.

“We value our collaboration with Record, which began with the establishment of the fund, and understand the importance of local currency lending for the sustainability of projects, especially for those not engaged in exports. Over the past five years, we have conducted operations in various currencies, including for key projects in Mongolia,” added Isabelle Laurent, Deputy Treasurer and Head of Financing at EBRD.

These investments complement Record's growing opportunities in private markets and emerging markets, including specialized currency strategies, debt instruments, real asset investments, private equity, and lending. All these activities align with the Group's strategy to provide institutional investors with unique opportunities in markets where specialized expertise and long-term partnerships can create sustainable value.

By Виктор Сизов

Published Date:2026-06-22