Tatton Asset Management saw its AUM grow by a fraction over £1bn in the six months to 30 September 2022, rising to £12.3bn up from £11.3bn in March.
Net inflows totalled £907m, an increase of nearly 40% on the same period last year, yet this figure only marginally exceeded the losses sustained as a result of market performance, which eroded £905m.
The majority of Tatton’s AUM growth can be attributed to its acquisition of 8AM Global, in which it bought 50% of firm’s share capital. The deal, which was announced in April, added £1bn of assets.
Paradigm, the firm’s IFA support group business, also performed solidly, as mortgage completions of £7.2bn amounted to a 9% increase on the six months ending 30 September last year.
Tatton founder and CEO Paul Hogarth (pictured) said: “We are pleased with the continued progress we are making as a group against the backdrop of difficult and volatile markets that have been with us throughout this period. Organic net inflows were very strong in the first six months as we had a number of significant wins which complemented underlying flows. We anticipate that net inflows will return to a more normalised level in the second half of this year in line with H2 of the prior year.
“Paradigm Consultancy continues to perform well and our mortgage business participated in a record £7.2bn of gross lending in the period. Whilst applications have remained robust in the period, given the climate of increasing interest rates and general economic uncertainty, we anticipate that the second half will be more challenging.
“We look forward to making further progress in the rest of the year while remaining mindful of the continuing macro-economic turbulence and market volatility and we remain confident in the group’s longer-term prospects.”