Tatton Asset Management plc (LON:TAM), the on-platform discretionary fund management (DFM) and IFA support services business, today issued a pre-close trading update for the six months ended 30 September 2017, ahead of publishing its interim results announcement on Tuesday 5 December 2017.
Management is pleased to report that the Group is trading in line with expectations, with funds under management on its on-platform DFM business increasing to £4.44 billion at 30 September 2017, compared with £3.85 billion at 31 March 2017. Furthermore, this business continues to experience fund inflows at a run-rate of over £80 million per month.
Paradigm Partners, the Group’s IFA support services business, continues to see membership growth, rising to 356 IFA firms at September 2017, up from 352 at March 2017. Paradigm Mortgage Services, the Group’s mortgage distribution and support services business, has seen membership rise to 1,143 mortgage firms during the period.
Paul Hogarth, Founder and CEO of Tatton Asset Management plc, commented: “Our successful IPO in July 2017 has been very well received by client firms supported by the Group and I am also pleased to report the continued strong growth in our funds under management. This growth is further evidence of the increasing demand for a low cost DFM service to the mass affluent market place served by the IFA sector, which the Group is ideally placed to capitalise on.
“We look forward to updating the market with our maiden interim results in early December.”