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Tatton assets increase by third year-on-year

Tatton assets increase by third year-on-year

Discretionary fund manager Tatton Investment Management’s assets rose by £2.3bn - 35.2 per cent – year-on-year and stood at £9bn at the end of March 2021.

The firm reported a 30 per cent increase in inflows the last six months compared with the prior six months, with net inflows standing at £427m.

Total inflows for the year were up 11.3 per cent at £755m. The DFM expects the next six-month results to be ahead of analyst forecasts.

Paul Hogarth, chief executive officer, said: "I am particularly pleased with the 30 per cent increase in net flows in H2 and reaching a milestone of £9bn of AUM despite considerable market uncertainty.

“Our strong performance proves the resilience of our business model which is supported by a high degree of annual recurring revenues and cashflow generation creating a strong balance sheet which is the bedrock of all good businesses.

“As we enter the new financial year, we carry forward good momentum and expect to make further progress in the execution of our strategy."

In June 2020, the number of advice firms using Tatton Asset Management's DFM services had increased by a third as advisers increasingly looked to outsource their investment propositions.

In its end of year results published at that time the investment manager confirmed 595 firms were using its DFM services at the end of March, up 34 per cent from 445 advisers in 2019.

This year a growing list of wealth managers removed VAT from their model portfolio services, following Tatton’s lead.

Ruth Gillbe is a freelance reporter for FTAdviser