Tatton Asset Management has announced a new AUM target of £30bn by the end of its 2029 financial year, following strong revenue growth in its latest annual results.
Group revenue increased by 13.9% to £36.9m, compared to £32.3m during the previous year. Elsewhere, adjusted operating profit rose by 12.9% to £18.5m over the 12 months to the end of March 2024, while pre-tax profit increased from £16m to £16.8m. Tatton’s profit margin stood at 50.3% for the year, a modest decrease from 50.7% in 2023.
The firm’s cash position stands at £24.8m, compared to £26.5m during the previous year. However, net assets have increased from £41.8m to £43.3m.
Assets under management and influence jumped by 26.9% from £13.9bn to £17.6bn, while assets under management grew by 30% from £12.7bn to £16.6bn.
Net inflows rose by 18.1% to £2.3bn over the year, marking an average run rate of £192m per month.
The results mean Tatton has exceeded growth plans laid out in its three-year ‘Roadmap to Growth’ strategy, which set a target of £15bn of AUM by 31 March this year. The company is therefore 17.4% above target.
Paul Hogarth (pictured), chief executive officer, said: “This has been another exceptional year for the group. We achieved a substantial increase in net inflows, totalling £2.3bn, with a particularly strong finish in the second half, especially in the last quarter.
“As promised, we have set a new milestone for the future: we aim to grow our AUM/I to £30bn by the end of the financial year 2029. I am pleased to report that we have made an encouraging start towards this goal, achieving net inflows of approximately £0.9bn in Q1 FY25.
“To put this in perspective, £0.9bn was the same level of net inflows we achieved in the first half of FY24, the year under review. While this is a very positive start, it is important to note that several large new mandates have boosted net inflows.
“We are delighted with this, but we do anticipate a return to a more normalised run rate for the remainder of the year.”
