Last checked at 16 Apr 2019 07:00
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 £6.1 billion at 31 March 2019 (31 March 2018: £4.9 billion, 30 September 2018; £5.7 billion), an increase of £1.2 billion or 24.5% for the financial year and £0.4 billion or 7.0% for the last six-month period.
Net inflows were £1.1 billion over the last 12 months, an average of £92.5 million per month and £0.5 billion for the last six months, an average of £87.1 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