Tatton Asset Management PLC Trading Statement (9422P)
October 17 2019 - 2:01AM
UK Regulatory
TIDMTAM
RNS Number : 9422P
Tatton Asset Management PLC
17 October 2019
17 October 2019
Tatton Asset Management plc (or the 'Group')
Trading statement
Tatton Asset Management plc (AIM: TAM), the on-platform
discretionary fund management (DFM) and IFA support services
business, is today providing an unaudited period end update for the
6 months ended 30 September 2019.
The Group continued to perform well during the period and the
progress outlined at the year-end results reported on 3 June 2019
has continued.
Highlights
Tatton Investment Management continues to grow strongly. Assets
under management (AUM) increased to GBP7.0 billion at 30 September
2019 (31 March 2019: GBP6.1 billion) which includes GBP135 million
of AUM from the Sinfonia acquisition completed recently and
announced today. This is an increase of GBP0.9 billion or 14.8% for
the six-month period. Organic growth of AUM was 12.5%.
Net inflows for the six months to September 2019 were GBP441
million, an increase of 7.2% of AUM.
Paradigm Mortgage Services (the Group's mortgage distribution
and support services business) continues to grow well and we have
increased our market share despite the general headwinds in the
mortgage market. New members in the period increased the number of
firms by 5.3% to 1,466 at 30 September 2019 (31 March 2019:
1,392).
Paradigm Consulting (the Group's IFA support business) member
firms stood at 385 on 30 September 2019 (31 March 2019: 390). The
marginal decrease was principally due to consolidation activity
within the IFA market.
The Group continues to trade in line with the Board's full year
expectations. Tatton Asset Management expects to report its interim
results on 11 November 2019.
Paul Hogarth, Founder and CEO of Tatton Asset Management plc,
said:
"While it's clear that the current political and economic
environment remains uncertain, we have delivered a good first half
to our financial year and have completed our first acquisition. We
are very pleased with both the start and progress we are making
with Tenet IFAs following the signing of the strategic partnership
agreement in June this year and also to have reached the AUM
milestone of GBP7 billion. As we look forward, we will continue to
take advantage of the opportunities that exist in our markets and
remain confident about the future progress of the Group."
Enquiries:
Tatton Asset Management plc
Paul Hogarth (Chief Executive Officer) +44 (0) 161 486 3441
Paul Edwards (Chief Financial Officer)
Lothar Mentel (Chief Investment Officer)
Zeus Capital - Nomad and Broker
Martin Green (Corporate Finance) +44 (0) 20 3829 5000
Dan Bate (Corporate Finance and QE)
Pippa Hamnett (Corporate Finance)
Media Enquiries
Roddi Vaughan-Thomas +44 (0) 20 7190 2952
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END
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