21st Apr 2020 18:04
(Alliance News) - Tatton Asset Management PLC said Tuesday it recorded a fourth consecutive year of asset growth in the year ended March 31.
At March 31, the asset manager's AuM stood at GBP6.65 billion, up from GBP6.07 billion at the same point the year before.
Over financial 2020, Tatton recorded GBP1.13 billion in net flows but saw its market performance shave GBP681 million off total assets.
Net inflows in the second half of the year totalled GBP688 million, an increase of 56% on the first six months of the year. Net inflows in March were GBP86 million and while only marginally behind the monthly average were affected by the consequences of the Covid-19 pandemic, Tatton said.
The asset manager added: "The group has delivered a third consecutive year of growth in revenue, adjusted operating profits and assets under management, in a period dominated by the complex political and market backdrop of Brexit and ending with a global health crisis."
Founder & Chief Executive Paul Hogarth said: "The sustained growth of Tatton's AuM has been supported by consistent investment performance and strong net inflows, which have been the pillars of our success.
"Paradigm continues to benefit from the amalgamation of Consulting and Mortgages announced at our half year results, with the Consulting membership base growing modestly and new mortgage firms delivering record levels of associated gross lending."
Tatton also noted it is committed to paying its dividend, and ended March 31 with cash of GBP12.8 million.
Hogarth added: "Whilst we are currently experiencing a period of uncertainty as a result of the impact of Covid-19, our balance sheet and ambition remain strong and the group is well positioned to execute its stated strategy of growth both organically and via acquisition in the long-term."
Shares in Tatton Asset Management closed 1.8% higher in London on Tuesday at 252.36 pence each.
By Paul McGowan; [email protected]
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