Business
Interim Results - Strong growth of AUM
Interim Results - Strong growth of AUM.
About this update from Tatton Asset Management Plc
[{"type":"text","content":"\n \nRNS Number : 4072H Tatton Asset Management PLC 15 November 2018 \n\n \n15 November 2018\n \nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA THE REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nTatton Asset Management PLC\nInterim Results for the six months ended 30 September 2018\n \n\"Strong growth of AUM\"\n \nTatton Asset Management plc (the \"Group\") (AIM: TAM), the on-platform discretionary fund management (DFM) and support services business for independent financial advisers (IFAs), today issues its interim results for the six-month period ended 30 September 2018.\n \nHighlights\n· Tatton Investment Management's (\"TIML\") discretionary assets under management (\"AUM\") increased 29.5% to £5.7bn (2017: £4.4bn)\n· Average AUM inflows increased to ~£90m per month, up from ~£80m per month at September 2017\n· Group Revenue increased 15.7% to £8.45m (2017: £7.30m)\n· Adjusted Operating profit1 up 8.3% to £3.35m (2017: £3.09m)\n· Reported profit before tax increased to £3.08m (2017: £0.56m)\n· Interim dividend increased 27.3% to 2.80p (2017: 2.20p)\n· Adjusted F.Dil EPS2 increased 8.6% to 4.57p (2017: 4.21p)\n· Strong financial position, with net cash of £11.6m (2017: £10.5m)\n \nBusiness Highlights\n· TIML delivered strong organic growth and client portfolio returns ahead of peer group averages \n· TIML increased its member firms by 41.6% to 405 (2017: 286) and number of accounts by 21.5% to 53.5k (2017: 44.1k)\n· Further investment and strengthened business development team\n· Pipeline of new IFA businesses continues to grow, as more IFAs that are not clients of Paradigm Partners (or \"PPL\") use TIML. IFAs that use PPL account for 42% of the total number of TIML firms and 79% of the assets u...