Tatton experienced a 7.7% increase in its assets under management for their half-year results, growing by £985m to a total of £13.72bn AUM.
The rise was due to £910m in organic net inflows and £100m through fund performance for the half, ending on 30 September. Throughout the fiscal year, Tatton has averaged an organic net inflow of £153m per month.
Tatton reported that the results were in line with its expectations during the period, which CEO and founder Paul Hogarth hopes will lead to outperforming the company’s goal of £15bn by March of next year.
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“The group continues to make good progress amidst the continuing backdrop of persistently volatile economic and market conditions,” Hogarth said.
“It has been very pleasing to see Tatton’s sustained strong organic net inflows in an environment where in general, asset managers have been suffering redemptions.”
Despite some uncertainty in the mortgage market, Tatton’s Paradigm Mortgages totalled £6.9bn in completions. It was also able to increase mortgage member firms by 47 and add on six Paradigm Consulting member firms.
“Our Paradigm Mortgage business participated in £6.9bn of mortgage completions in a Period which saw increasing interest rates and uncertainty in the housing market,” Hogarth said.
“As expected, the mix of completions shifted to lower margin products, but overall we are pleased with the resilient performance in H1 23. Paradigm Consulting continues to perform in line with our expectations.”
In 2022, Tatton acquired half of 8AM global, which brought their combined AUM and AUI to an increase of 6.6% in the past six months for a total of £14.784bn. Tatton also introduced their money market portfolios this August to address concerns around the interest rate set by the Bank of England.
“We look forward to making further progress over the rest of the year, while remaining acutely aware of the continuing macroeconomic turbulence and market volatility. The board remains confident in the future prospects of the group.”
