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Tatton Asset Management Plc

INTERVIEW: Tatton Asset Management A very good time to buy – Zeus

Tatton Asset Management Plc (LON:TAM) is the topic of conversation today when Robin Savage caught up with DirectorsTalk. Robin gives us some background on what it is that TAM do, explains how the interims compare with expectations and shares his thoughts on whether its a good time to buy shares in the company.

The Group announced its first results since its IPO in July 2017, which raised £51.6 million and has significantly helped increase its profile in the marketplace. They work with a large number of financial intermediary firms, such as independent financial advisers (IFAs) and mortgage brokers, and since the IPO have had very positive messages of support from many of these client firms.

The company said that during the period, we have seen strong growth across all divisions, and as noted during our recent IPO, the key driver of improved profitability is within the Group’s on-platform discretionary fund management (DFM) business, Tatton Capital Limited (TCL). In TCL, total funds under management have increased by 33% to £4.44 billion compared with £3.33 billion at the end of the interim period in 2016, driven by increasing demand for a low-cost DFM service to the mass affluent served by IFA sector.

Paradigm Partners Limited (PPL), the Group’s IFA compliance services business, continues to grow and client member firms are up 3% year-on-year to 356 at September 2017. PPL’s wrap platform has seen assets grow by 14% over the year to £3.26 billion at the half year.

Paradigm Mortgage Services LLP (PMS), the Group’s mortgage and protection distribution business, has seen excellent member growth, up 13% to 1,143 since the prior year. This has helped drive good levels of gross lending through PMS’ channel at £2.99 billion for the six-month period, which is 27% higher than 1H16 and above market growth of 8%.

Tatton Asset Management offers a range of services to Directly Authorised financial advisers in the UK, including on-platform only discretionary fund management, regulatory, compliance and business consulting services, and a whole of market mortgage provision. This is achieved through three operating divisions: Tatton Capital, Paradigm Partners and Paradigm Mortgage Services.

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