18th Apr 2023 13:05
(Alliance News) - Tatton Asset Management PLC said on Tuesday that it has delivered annual assets under management growth, helped by record net inflows, shaking off a "challenging environment".
Tatton is an on-platform discretionary fund management group providing support services such as compliance and business advice. It is headquartered in Cheshire, UK, and celebrates its tenth anniversary this year.
For the year ended March 31, it expects to report growth "in line with the board's expectations".
Assets under management during the year rose 22% to GBP13.87 billion from GBP11.34 billion. Net inflows for the year spiked to a "record" of GBP1.79 billion, jumping 41% on-year.
Tatton's assets under management got a boost from the acquisition of a 50% stake in 8AM Global Ltd. It acquired the holding for GBP7.0 million.
The market and investment performance hurt its assets under management by GBP400 million.
Chief Executive Officer Paul Hogarth said: "I am delighted with the performance this year, as the group delivered another year of strong growth in what has been a difficult and volatile market environment for most asset managers."
He added: "We look forward with confidence as we make further progress and continue to deliver against our strategic objectives."
Shares in Tatton were 1.0% lower at 445.50 pence each in London on Tuesday afternoon.
By Emma Curzon, Alliance News reporter
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