Tatton assets under management reach £10.8bn in first half

The AIM-traded firm said net inflows in the six months ended 30 September totalled £0.65bn, while market and investment performance added a positive £0.5bn and the acquisition of Verbatim funds brought in £0.65bn.

It said it delivered “strong” growth across all of its key metrics, including in revenue, profits and assets under management, as it traded in line with expectations.

Its independent financial adviser support business Paradigm also continued to grow, with mortgage firms increasing to 1,646 from 1,612, and consulting member firms increasing to 418 from 407.

Paradigm Mortgages saw an increase in market activity, driven by the stimulus of the UK government's stamp duty holiday, coupled with an improved lending environment.

As a result, mortgage completions increased 30% year-on-year to £6.5bn, from £5bn at the end of the first half of the 2021 financial year.

“We continued to make excellent progress in the first six months of this financial year delivering very good growth across all parts of our business,” said founder and chief executive officer Paul Hogarth.

“We are delighted to have reached £10.8bn of assets under management at the end of September.

“This has been delivered through a combination of strong organic growth of 12.8% and the acquisition of Verbatim funds, announced towards the end of the period, which added a further £0.7bn to the total.”

Hogarth said that following the recent acquisition of the Verbatim fund range and the firm’s strategic partnership with Fintel, the board was “excited” about the group’s future opportunity.

“We are pleased with the start we have made and look forward to developing stronger relationships with the firms over the rest of this year and beyond.

“Alongside this, Paradigm continues to perform well as we continue to attract new firms to our services, with the value of mortgage completions during the period reaching record levels.

“As we look forward to the rest of the year, we are confident of making further progress and delivering against our strategic objectives.”

Tatton said it would release its unaudited results for the six months ended 30 September on 17 November.

At 1423 BST, shares in Tatton Asset Management were up 1.52% at 500.5p.