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Tatton Asset Management progress report

  • By Andrew Sullivan
  • News

Tatton Asset Management, the on-platform discretionary fund management and IFA support services business, has issued an update for the 12 months ended 31 March 2019.

The Group has continued to grow revenue and adjusted operating profits against what it describes as a “backdrop of a complex and challenging market environment.” The firm expects to report revenue and operating profits within the range of analyst estimates.

The year ended with assets under management of £6.1bn (31 March 2018: £4.9bn, 30 September 2018; £5.7bn), an increase of £1.2bn, or 24.5% for the financial year, and £0.4bn, or 7.0% for the last six-month period.

Net inflows were £1.1bn over the last 12 months, an average of £92.5m per month and £0.5bn for the last six months, an average of £87.1m per month.

The firm also reported that its Paradigm Mortgage Services continues to grow well, outperforming the growth of the mortgage market and continuing to gain market share. Member firms increased to 1,393 (2018: 1,219), a 14.3% increase year-on-year.

Paradigm Consulting increased its member firms to 390 (2018: 368), but has seen downward pressure on revenue from consultancy services and the impact of reduced flows on the Paradigm wrap platform.

Paul Hogarth, Founder and CEO of Tatton Asset Management, said: “I am very pleased with the performance of Tatton Investment Management which continues to increase AUM and attract net inflows in difficult markets. The sustained growth in AUM and new firms using Tatton is confirmation that the service and proposition continue to resonate with IFAs and their clients by delivering consistent investment returns at a competitive market price.

“To the extent we are pleased with the Mortgage services performance we are disappointed with the lack of growth of Paradigm Consulting though it remains an important component of the Group’s strategic makeup. The Group remains well positioned to achieve continued growth and deliver against its stated strategy.”

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