Tatton Asset Management plc (TAM) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Please feel free to submit questions as we proceed through the presentation. But for now, I will hand over to Paul Hogarth, CEO. Thank you, Hannah, and good morning. Yes, if I could just run you through slide eight, if we could start off there. I'll take you through the sort of the operational highlights and some of the financial highlights as well. Absolutely tremendous six months. Could not be happier with what we've achieved over that period. In particular, obviously, you're seeing the funds under management increase, and we had 1.7 billion of new flows over that six-month period. I'm happy to say that that flow rate has continued post that half-year end. So October's been good, November's been good so far, and we're at 27.1 billion in total, so 2.1 billion year-to-date on flows. What we put that down to is the growing momentum in MPS. MPS is absolutely omnipresent in the IFA world. You cannot pick up any press from Citywire or FT Advise or whatever and not see MPS being front and central. And also, too, on the website as well. On all websites, wherever you go, MPS is everywhere. So growing momentum everywhere. We're doing incredibly well, I think, in our share of that. I'll come back to that later. But really good solid flows, good pipeline moving forward, all organic, and beautifully adding to the FUM. Actually, when we look at it, those sorts of positions on flows we think would have been even better if we didn't have the kind of macro position that we've got on in the world today. So obviously there's a lot of waiting for Wednesday with the budget. There are discussions around, obviously, the toppiness of the markets as well. And, you know, we're seeing IFAs being very, very busy And a lot of it has been moving tax-free cash out of the pension scheme just in c...