Tatton Asset Management PLC Trading Update and Notice of Results (4450P)
October 19 2021 - 2:00AM
UK Regulatory
TIDMTAM
RNS Number : 4450P
Tatton Asset Management PLC
19 October 2021
For release: 07.00, 19 October 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Tatton Asset Management plc
("TAM plc" or the "Group")
AIM: TAM
Trading Update and Notice of Results
Tatton Asset Management plc (AIM: TAM), the investment
management and IFA support services business, is today providing an
unaudited period end update on the Group's performance for the six
months ended 30 September 2021 (the "Period"). The unaudited
results for the Period will be announced on Wednesday, 17 November
2021.
The Group delivered strong growth across all its key metrics
during the Period, including revenue, profits and assets under
management ("AUM") and the Group is trading in line with
expectations.
TAM continues to execute its strategy successfully, growing AUM
both organically and through acquisition in the Period. Total AUM
increased by 20.0% or GBP1.797 billion to GBP10.787 billion (Mar
2021: GBP8.990 billion) in the Period with organic growth
contributing 12.8%.
Tatton net inflows were GBP0.652 billion, increasing 98.8%
compared to the same period last year (Sep 2020: GBP0.328 billion).
In addition, strong investment performance increased AUM by over
5.0% adding GBP0.495 billion and the recent Verbatim acquisition
contributed a further GBP0.650 billion.
Total GBPbn
---------------------------------- -----------
Opening AUM 1 April 2021 8.990
Net inflows 0.652
Market and investment performance 0.495
Acquisition of Verbatim funds 0.650
Closing AUM 30 September 2021 10.787
Paradigm, the Group's IFA support services business, also
continued to grow, with Mortgage firms increasing to 1,646 (31
March 2021: 1,612) and Consulting member firms increasing to 418
(31 March 2021: 407). Paradigm Mortgages saw an increase in market
activity in the Period driven by the stimulus of the UK
Government's stamp duty holiday coupled with an improved lending
environment. As a result, mortgage completions increased to GBP6.5
billion (30 September 2020: GBP5.0 billion), an increase of
30.0%.
Paul Hogarth, Founder and CEO of Tatton Asset Management plc,
said:
"We continued to make excellent progress in the first six months
of this financial year delivering very good growth across all parts
of our business. We are delighted to have reached GBP10.8 billion
of AUM at the end of September. This has been delivered through a
combination of strong organic growth of 12.8% and the acquisition
of Verbatim funds, announced towards the end of the Period, which
added a further GBP0.7 billion to the total.
"Following the recent acquisition of the Verbatim fund range and
strategic partnership with Fintel, we remain excited about the
future opportunity for the Group. We are pleased with the start we
have made and look forward to developing stronger relationships
with the firms over the rest of this year and beyond. Alongside
this, Paradigm continues to perform well as we continue to attract
new firms to our services, with the value of mortgage completions
during the Period reaching record levels.
"As we look forward to the rest of the year, we are confident of
making further progress and delivering against our strategic
objectives."
For further information please contact:
Tatton Asset Management plc
Paul Hogarth (Chief Executive Officer)
Paul Edwards (Chief Financial Officer)
Lothar Mentel (Chief Investment
Officer) +44 (0) 161 486 3441
Zeus Capital - Nomad and Broker
Martin Green (Corporate Finance)
Dan Bate (Corporate Finance and
QE) +44 (0) 20 3829 5000
Singer Capital Markets - Joint Broker
Peter Steel, Rachel Hayes, Amanda
Gray (Investment Banking)
+44 (0) 20 7496 3000
Belvedere Communications - Financial
PR +44 (0) 7407 023147
John West / Llew Angus (media) + 44 (0) 7715 769078
Cat Valentine / Keeley Clarke (investors) tattonpr@belvederepr.com
Trade Media Enquiries
Roddi Vaughan Thomas (Head of Communications) +44 (0) 7469 854 011
For more information, please visit:
www.tattonassetmanagement.com
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END
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