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17 Oct 2017 07:00
17 October 2017
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA THE REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
FOR IMMEDIATE RELEASE
Tatton Asset Management plc ("Tatton" or the "Group")
Pre-close trading statement
Tatton Asset Management plc (AIM:TAM), the on-platform discretionary fund management (DFM) and IFA support services business, today issues a pre-close trading update for the six months ended 30 September 2017, ahead of publishing its interim results announcement on Tuesday 5 December 2017.
Management is pleased to report that the Group is trading in line with expectations, with funds under management on its on-platform DFM business increasing to £4.44 billion at 30 September 2017, compared with £3.85 billion at 31 March 2017. Furthermore, this business continues to experience fund inflows at a run-rate of over £80 million per month.
Paradigm Partners, the Group's IFA support services business, continues to see membership growth, rising to 356 IFA firms at September 2017, up from 352 at March 2017. Paradigm Mortgage Services, the Group's mortgage distribution and support services business, has seen membership rise to 1,143 mortgage firms during the period.
Paul Hogarth, Founder and CEO of Tatton Asset Management plc, commented:
"Our successful IPO in July 2017 has been very well received by client firms supported by the Group and I am also pleased to report the continued strong growth in our funds under management. This growth is further evidence of the increasing demand for a low cost DFM service to the mass affluent market place served by the IFA sector, which the Group is ideally placed to capitalise on.
"We look forward to updating the market with our maiden interim results in early December."
Enquiries
Tatton Asset Management plc | +44 (0) 161 486 3441 |
Paul Hogarth (Chief Executive Officer) Lothar Mentel (Chief Investment Officer) Noel Stubley (Chief Financial Officer) |
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Nomad and Broker |
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Zeus Capital | +44 (0) 20 3829 5000 |
Martin Green (Corporate Finance) |
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Dan Bate (Corporate Finance and QE) Pippa Underwood (Corporate Finance) |
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Media Enquiries |
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Powerscourt | +44 (0) 20 7250 1446 |
Justin Griffiths |
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Mazar Masud |
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Roddi Vaughan-Thomas |
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Notes to editors
Tatton Asset Management offers a range of services to Directly Authorised financial advisers in the UK, including on-platform only discretionary fund management, regulatory, compliance and business consulting services, and a whole of market mortgage provision.
On 6 July 2017, the Group was admitted to the Alternative Investment Market (AIM) of the London Stock Exchange, raising £51.6 million in an institutional placing.
For more information, please visit: www.tattonassetmanagement.com
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