REG - Tatton Asset Mgt PLC - Trading Update and Notice of Chairman’s Retirement

Tatton Asset ManagementAnnouncement

15/04/2025 07:02

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RNS Number : 9713E  Tatton Asset Management PLC  15 April 2025

15 April 2025

Tatton Asset Management plc

("TAM plc" or the "Group")

AIM: TAM

 

Trading Update, Notice of Final Results and Notice of Chairman's Retirement

 

Record net inflows of £3.7bn contribute to a £4.2bn increase in AUM/I(1), up
24.0% to £21.8bn

 

Tatton Asset Management plc, the on-platform discretionary fund management
("DFM") and IFA support services Group, today announces the following
unaudited trading update for the year ended 31 March 2025 ("FY25" or the
"Year"). The Group's audited Final Results are scheduled to be released on 10
June 2025.

 

Trading Update

·      Record net inflows of £3.7 billion in the Year, representing
22.3% of opening AUM

·      Total AUM/I(1) of £21.8 billion at 31 March 2025 (2024: £17.6
billion)

·      Total AUM/I(1) of £21.1 billion as at 11 April 2025

·      Added 135 IFAs in the Year to reach a total of 1,110 IFA firm
relationships for Tatton Investment Management

·      Market and investment performance of £0.6 billion (2024: £1.5
billion)

·      The Board is confident that the financial results for the Year
will be in line with the market expectations

 

Highlights

 

Tatton Investment Management delivered another year of strong growth with
record organic net inflows of £3.687 billion (2024: £2.303 billion), an
increase of 60.1% on prior year net inflows. Average monthly net inflows
through the Year have been £307 million with the strong momentum from H1
carrying through to H2. Net inflows in H1 were £1.832 billion, an average of
£305 million per month, with a further £1.855 billion being achieved in H2
FY25, an average of £309 million per month.

 

This is the first full year of our new five-year "Roadmap for Growth"
strategy, which set an ambitious target of £30.0 billion AUM/I(1) by 31 March
2029. We have made a strong start towards reaching the £30.0 billion target,
adding £4.2 billion in the first year, with AUM/I(1) increasing to £21.825
billion (2024: £17.604 billion). The strong growth delivered in the Year was
supported by the number of IFA firms increasing by 13.8% to 1,110 (2024: 975).

 

                                                                   £bn
 Opening AUM 1 April 2024                                          16.551
 Organic net inflows                                               3.687
 Market and investment performance                                 0.634
 Closing AUM 31 March 2025                                         20.872
 8AM - AUI¹                                                        0.953
 Total closing combined AUM/I(1) 31 March 2025                     21.825
 ¹AUM/I includes 100% of 8AM Global AUM (Assets under influence)

 

Paradigm, the Group's IFA support services business, has delivered a resilient
performance in the Year. Paradigm Mortgages participated in mortgage
completions totalling £13.7 billion (2024: £13.2 billion), a 3.6% increase
year on year, with H2 completions of £7.1 billion, ahead of H1 by 6.6%.
Performance was in line with our expectations, supported by stronger mortgage
applications in the second half of the Year, which are also contributing to a
healthy pipeline of potential completions as we head into the new financial
year. New Mortgage member firms in the Year were 124 but totalled 1,915 at the
end of the Year (2024: 1,916) following a rationalisation of a number of
dormant firms. Consulting member firms were 425 at the end of the Year (2024:
424).

Chairman's Retirement

 

Today we also announce that Roger Cornick, who has served as Non-Executive
Chairman of the Board since the Company's Initial Public Offering ("IPO") in
July 2017, will retire at the Annual General Meeting ("AGM") at the end of
July 2025.

 

Since taking the helm as Chairman, Roger's period in office has seen the
transformation of TAM plc from a small, but forward looking, DFM practitioner
to a market leader in this sector of the UK asset management world. In
particular, he has been instrumental in building TAM plc as a trusted brand
within the IFA community and his dedication to creating long-term value for
shareholders, employees, and customers has been commendable.

 

The Board has agreed to appoint Chris Poil (Senior Non-Executive Director of
TAM plc) as his successor, subject to shareholder approval, following the AGM
at the end of July 2025. Until then, Roger remains committed to ensuring a
seamless transition while building on the momentum established during his
tenure.

 

Roger Cornick, Non-Executive Chairman of Tatton Asset Management plc,
commented "It has been a privilege to serve as Chairman of Tatton Asset
Management and to work alongside such a talented and dedicated management
team. I am proud of what we have achieved together since the 2017 IPO, and I
am confident that the Group is well-positioned to sustain the forward momentum
that we have been able to achieve over this period - I will be retiring from
an organisation with a very bright future."

 

Paul Hogarth, Founder and CEO of Tatton Asset Management plc, said "Roger has
been an excellent Chairman bringing a huge amount of experience to the role
and, on a personal note, has been a great mentor and friend to me over the
past eight years. While we are sad to see him step down, his legacy will
endure in the strong foundation he has helped to build.

 

"I am incredibly proud of the exceptional performance Tatton Asset Management
has achieved in FY25, a year that marks the strongest organic growth in our
history, with record net inflows of £3.7 billion, representing 22.3% of
opening AUM. This outstanding result, alongside total AUM/I(1) reaching £21.8
billion, reflects the unwavering trust our clients and IFA partners place in
us and is exemplified by the addition of 135 new IFA firm relationships,
bringing our total to 1,110.

 

"This year saw the commencement of our ambitious five-year 'Roadmap for
Growth' strategy, targeting £30 billion in AUM/I(1) by 2029. We have made an
incredible start and most pleasing is the consistency of net inflows
throughout the year, which averaged £307 million per month. I remain
confident in our long-term vision and achieving the target in the coming
years.

 

"These results are a testament to the dedication of our team and the strength
of our partnerships with independent financial advisers. The Board is
confident that our financial performance for FY25 will align with market
expectations, and while we are cognisant of the current economic volatility
and the impact that this is having on global markets, we remain optimistic and
look forward to building on our success as we continue to empower advisers and
deliver value to all our stakeholders."

For further information please contact:

 Tatton Asset Management plc

 Paul Hogarth (Chief Executive                                       +44 (0) 161 486 3441
 Officer)

 Paul Edwards (Chief Financial
 Officer)

 Lothar Mentel (Chief Investment Officer)

 Zeus Capital - Nomad and Joint Broker                               +44 (0) 20 3829 5000

 Martin Green (Investment Banking)

 Dan Bate (Investment Banking and QE)
                                                                     +44 (0) 20 7496 3000

 Singer Capital Markets - Joint Broker

 Charles Leigh-Pemberton / Peter Steel (Investment Banking)

 Gracechurch Group - Financial PR and IR

 Heather Armstrong / Henry Gamble / Rebecca Scott                    +44 (0) 20 4582 3500

                                                                     tatton@gracechurchpr.com (mailto:tatton@gracechurchpr.com)
 Trade Media Enquiries                                               +44 (0) 7469 854 011

 Roddi Vaughan-Thomas (Head of Communications)

For more information, please visit: www.tattonassetmanagement.com
(http://www.tattonassetmanagement.com)

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