Discretionary investment house Tatton Asset Management has reported a surge in client funds that it said is a benefit of the growth in its adviser support services business, Paradigm Partners.
Tatton’s AUM was £4.9bn at the end of March 2018, an increase of £1bn, or 25 per cent in a year.
The company said it increased the number of clients using Paradigm Services to 368, up from the previous 352.
The company said its mortgage services business also grew.
Paul Hogarth, founder and chief executive at Tatton, said: “"The positive impact of our initial public offering has continued, and we are very pleased that the Group has performed in line with expectations.
"Increasing assets under management to £4.9bn, and £5bn as at today, is a continued endorsement of the demand for a discretionary fund management service that offers competitive pricing and has delivered strong investment returns during challenging markets.”
Tatton floated on the Alternative Investment Market (AIM) in July 2017, when the business was valued at £87.2m.
The company said at that time it expected being a public company would help it to attract new clients and assets.
In a separate statement today (23 April) the company confirmed Noel Stubley is to retire as chief financial officer of the business at the end of April 2018, and his replacement is Paul Edwards.
David.Thorpe@ft.com
