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Prices & Quotes - UK Markets - Tatton Asset Management (TAM)

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Share Price:
606.00p
Change Today:
0.000p
Market Cap:
357.02m
Sector:
Financial Services

Tatton assets under management reach 10.8bn in first half

By Josh White

Date: Tuesday 19 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Tatton Asset Management reported assets under management of 10.79bn at the end of its first half on Tuesday, up from 8.99bn at the start of the period.
The AIM-traded firm said net inflows in the six months ended 30 September totalled 0.65bn, while market and investment performance added a positive 0.5bn and the acquisition of Verbatim funds brought in 0.65bn.

It said it delivered "strong" growth across all of its key metrics, including in revenue, profits and assets under management, as it traded in line with expectations.

Its independent financial adviser support business Paradigm also continued to grow, with mortgage firms increasing to 1,646 from 1,612, and consulting member firms increasing to 418 from 407.

Paradigm Mortgages saw an increase in market activity, driven by the stimulus of the UK government's stamp duty holiday, coupled with an improved lending environment.

As a result, mortgage completions increased 30% year-on-year to 6.5bn, from 5bn at the end of the first half of the 2021 financial year.

"We continued to make excellent progress in the first six months of this financial year delivering very good growth across all parts of our business," said founder and chief executive officer Paul Hogarth.

"We are delighted to have reached 10.8bn of assets under management at the end of September.

"This has been delivered through a combination of strong organic growth of 12.8% and the acquisition of Verbatim funds, announced towards the end of the period, which added a further 0.7bn to the total."

Hogarth said that following the recent acquisition of the Verbatim fund range and the firm's strategic partnership with Fintel, the board was "excited" about the group's future opportunity.

"We are pleased with the start we have made and look forward to developing stronger relationships with the firms over the rest of this year and beyond.

"Alongside this, Paradigm continues to perform well as we continue to attract new firms to our services, with the value of mortgage completions during the period reaching record levels.

"As we look forward to the rest of the year, we are confident of making further progress and delivering against our strategic objectives."

Tatton said it would release its unaudited results for the six months ended 30 September on 17 November.

At 1423 BST, shares in Tatton Asset Management were up 1.52% at 500.5p.

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TAM Market Data

Currency UK Pounds
Price 606.00p
Change Today 0.000p
52 Week High 610.00p
52 Week Low 269.00p
Volume 4,199
Shares Issued 58.91m
Market Cap 357.02m
Beta 0.09

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What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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TAM Dividends

  Latest Previous
  Interim Final
Ex-Div 25-Nov-21 24-Jun-21
Paid 17-Dec-21 28-Jul-21
Amount 4.00p 7.50p

Trades for 01-Dec-2021

Time Volume / Share Price
14:39 31 @ 607.30p
14:19 586 @ 596.00p
14:01 493 @ 607.30p
12:52 97 @ 607.30p
12:14 327 @ 607.30p

TAM Key Personnel

CEO Paul Hogarth
CFO Paul Edwards