Tatton Asset Management PLC Trading Statement (2654W)
April 16 2019 - 2:00AM
UK Regulatory
TIDMTAM
RNS Number : 2654W
Tatton Asset Management PLC
16 April 2019
16 April 2019
Tatton Asset Management plc (the 'Group')
Trading Statement for 12 months ending 31 March 2019
Tatton Asset Management plc (AIM: TAM), the on-platform
discretionary fund management (DFM) and IFA support services
business, is today providing an unaudited update for the 12 months
ended 31 March 2019.
The Group has continued to grow revenue and adjusted operating
profits* against the backdrop of a complex and challenging market
environment and expects to report revenue and operating profits
within the range of analyst estimates.
Highlights
Tatton Investment Management sustained a strong performance in
to the second half of the year. The year ended with assets under
management (AUM) of GBP6.1 billion at 31 March 2019 (31 March 2018:
GBP4.9 billion, 30 September 2018; GBP5.7 billion), an increase of
GBP1.2 billion or 24.5% for the financial year and GBP0.4 billion
or 7.0% for the last six-month period.
Net inflows were GBP1.1 billion over the last 12 months, an
average of GBP92.5 million per month and GBP0.5 billion for the
last six months, an average of GBP87.1 million per month.
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 at 31 March 2019 (31 March
2018: 1,219), a 14.3% increase year-on-year. Paradigm Consulting
increased its member firms to 390 (31 March 2018: 368) but has seen
downward pressure on revenue from consultancy services and the
impact of reduced flows on the Paradigm wrap platform.
Tatton Asset Management expects to report its results for the
year ending 31 March 2019 on Monday, 3 June 2019.
Paul Hogarth, Founder and CEO of Tatton Asset Management plc,
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."
*Adjusted for exceptional charges and share based payments
Enquiries:
Tatton Asset Management plc
Paul Hogarth (Chief Executive Officer) +44 (0) 161 486 3441
Paul Edwards (Chief Financial Officer) +44 (0) 161 486 3441
Lothar Mentel (Chief Investment Officer) +44 (0) 161 486
3441
Zeus Capital - Nomad and Broker
Martin Green (Corporate Finance) +44 (0) 20 3829 5000
Pippa Hamnett (Corporate Finance) +44 (0) 20 3829 5000
Dan Bate (Corporate Finance and QE) +44 (0) 20 3829 5000
Media Enquiries
Roddi Vaughan-Thomas +44 (0) 20 7190 2952
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END
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