REG - Tavistock Investment - Update re ongoing litigation

Tavistock InvestmentsAnnouncement

Thu 07:00

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RNS Number : 6833B  Tavistock Investments PLC  02 October 2025

Tavistock Investments Plc

("Tavistock" or the "Company")

 

 

2 October 2025

 

 

Tavistock Reasserts Commitment to Shareholders in Titan Legal Dispute

 

 

Further to the disclosures made in the Company's financial statements for the
year ended 31 March 2025, Tavistock today provides an update on the ongoing
litigation with Titan Wealth Services Limited and Titan Asset Management
Limited ("Titan").

 

In June 2021, Tavistock announced its entry into a 10-year strategic
partnership with Titan Wealth Services Limited. As a part of the arrangements
Titan acquired Tavistock's asset management business and range of risk rated
UCITS sub-funds, branded ACUMEN. It was also offered the opportunity to
acquire Tavistock's Model Portfolio Service ("MPS") but declined to do so.

 

Less than one year into the partnership, Tavistock began to uncover multiple
breaches by Titan of the strategic partnership agreement and earnout
arrangements. In the opinion of Tavistock's Board, Titan's failure to honour
the undertakings that it gave regarding the management of the acquired
business led to a collapse in the performance of the ACUMEN Funds.

 

In order to protect the interests of the Company's shareholders, in 2024,
Tavistock put Titan on notice of its intention to issue legal proceedings
seeking damages. In response Titan, issued a claim in the High Court against
the Company on a peremptory basis. Tavistock refuted this claim in the
strongest terms and issued its own counterclaim seeking damages for multiple
breaches of contract, including failures relating to the management of the
ACUMEN fund range and the misuse of confidential information.

 

In June 2025 Tavistock made an application to expand the scope of its
counterclaim against Titan to include new causes of action in respect of
Titan's MPS for breach of confidence, alleged misuse of trade secrets and
copyright infringement, and to add Titan Wealth Holdings Limited as an
additional party.

 

Titan opposes the expansion of the scope of Tavistock's counterclaim and has
applied at the same time to strike out parts of the counterclaims.

 

A Court hearing has now been listed for December 2025 to determine both
parties' applications. The Board remains confident in the strength of its case
and continues to defend Titan's claim and pursue its own counterclaims
vigorously.

 

Tavistock has offered Titan the opportunity to resolve the dispute via
mediation. To date, this offer has been rejected. Unless Titan's approach
changes, Tavistock will continue to pursue its claims through the courts.

 

Brian Raven, Tavistock's Chief Executive, commented:

 

"This litigation is not just about damages - it is about accountability. The
evidence is clear that Titan's conduct caused reputational and financial harm,
and we will not allow our shareholders to bear the cost of its mismanagement."

 

ACUMEN Fund Performance Under Titan's Management

 

Between 27 August 2022 and 4 January 2024 (after Tavistock began to uncover
multiple breaches of contract), while under Titan's management, the ACUMEN
fund suite experienced a dramatic collapse in performance. In all cases, the
funds ranked in the bottom quartile of their respective peer groups for that
16-month period, in the 99(th) or 100(th) percentile.

 

 

 

                     Performance post Titan's breaches of contract

                     (27(th) Aug 2022 - 4(th) Jan 2024)
                     Performance vs Benchmark  Quartile Rank  Fund Rank     Percentile Rank
 ACUMEN Portfolio 4  -7.89%                    4(th)          176/177       100(th)
 ACUMEN Portfolio 5  -8.27%                    4(th)          177/177       100(th)
 ACUMEN Portfolio 6  -9.72%                    4(th)          212/215       99(th)
 ACUMEN Portfolio 7  -11.19%                   4(th)          214/215       100(th)
 ACUMEN Portfolio 8  -13.51%                   4(th)          157/159       99(th)
 Average             -10.12%                   4(th)                        100(th)

 

      Source of data: FE Analytics

 

The Company continues to manage the litigation process efficiently and
separately from its operational and strategic priorities, which remain
unaffected. Adverse costs insurance is also in place.

 

ENDS

 

 

For further information:

 

 Tavistock Investments Plc                                                                                                                                                                            Tel: 01753 867000

 Oliver Cooke

 Brian Raven

 Allenby Capital Limited

 (Nominated adviser and broker)                                                                                                                                                                       Tel: 020 3328 5656

 Corporate Finance:

 Nick Naylor, Daniel Dearden-Williams

 Sales and Corporate Broking:

 Tony Quirke

 Flagstaff Communications                                                                                                                                                                             tavistock@flagstaffcomms.com

 (Financial                                                                                                                                                                                           Tel: 0207 129 1474
 PR/IR)

 Tim Thompson

 Alison Allfrey

 Anna Probert

 Infinite                                                                                                                                                                                             Tel: 0207 269 1430

 (Litigation PR)

 Ryan McSharry

 Matthew Gilleard

 

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