Tatton Asset Management has added £1 billion of assets over the last 12 months, following a recent IPO.
This is better news for the asset management group, which has a discretionary fund management arm, support services, an advice group, which saw a 71% hit to its pre-tax profits for the six months to September 2017 due the exceptional costs of the IPO.
Tatton was admitted to the AIM market in July last year after an £87.2 million IPO. Paul Hogarth (pictured), group chief executive, said the firm’s increased profile since the IPO would increase asset inflows.
In a trading statement covering the last 12 months, published this morning, Tatton announced assets under management of had increased 25.6% over the year to 31 March 2018 to £4.9 billion.
The group's IFA support services business, Paradigm Partners, has continued to attract members with client firms increasing to 368, from 352 last year.
Paradigm Mortgage Services, the group's mortgage distribution and support services business, also added members, from 1,069 to 1,219.
Hogarth said: ‘The positive impact of our IPO has continued, and we are very pleased that the group has performed in line with expectations.’
He said the increase in asserts was a ‘continued endorsement of the demand for a DFM service’.
Tatton reports its full year results on 27 June.