Tatton Asset Management has recorded its highest-ever organic net inflows for the 2023/24 financial year to 31 March 2024, at £2.3bn. Compared to the previous year’s organic net flows of £1.8bn, this marks a 28.4% year-on-year increase.
This £2.3bn accounted for 62.2% of Tatton’s £3.7bn overall increase in assets under management to £17.6bn at the end of March this year, compared to £13.9bn during the same period in 2022/23. Market and investment performance contributed a further £1.5bn, compared to a loss of £400m last year.
Tatton also made a number of acquisitions during the financial year, increasing the number of IFA firms under its belt by 12.2% to 975.
Net inflows during the second half of the year alone reached £1.4bn, a 53.1% increase compared to the £910m inflows seen during the first half of the year. This therefore bolstered Tatton’s average monthly net inflows from £152m in H1, to £232m in H2, which the firm said was “supported by the tax year end”.
The results come amid the final year of Tatton’s three-year ‘Roadmap to Growth’, whereby the original target was to achieve £15bn in AUM by the end of last month – a target it has overshot by 17.3%. Over the three years in total, organic net inflows amounted to £5.4bn. The company will release its new medium-term AUM target on 18 June this year as part of its full audited results.
Paul Hogarth, founder and CEO of Tatton Asset Management, said: “I am very pleased with this year’s results, especially when we consider the difficult economic backdrop our industry has faced over the last 12 months.
“Our excellent trading performance is a testament to the overall quality of our long-term track record of consistent investment performance, and market leading customer service and communications, which when combined with our IFA distribution partnerships, continue to drive the success of the business.”
