15 April 2025

Tatton Asset Management plc

("TAM plc" or the "Group")

AIM: TAM

Trading Update, Notice of Final Results and Notice of Chairman's Retirement

Record net inflows of £3.7bn contribute to a £4.2bn increase in AUM/I¹, up 24.0% to £21.8bn

Tatton Asset Management plc, the on-platform discretionary fund management ("DFM") and IFA support services Group, today announces the following unaudited trading update for the year ended 31 March 2025 ("FY25" or the "Year"). The Group's audited Final Results are scheduled to be released on 10 June 2025.

Trading Update

·      Record net inflows of £3.7 billion in the Year, representing 22.3% of opening AUM

·      Total AUM/I¹ of £21.8 billion at 31 March 2025 (2024: £17.6 billion)

·      Total AUM/I¹ of £21.1 billion as at 11 April 2025

·      Added 135 IFAs in the Year to reach a total of 1,110 IFA firm relationships for Tatton Investment Management

·      Market and investment performance of £0.6 billion (2024: £1.5 billion)

·      The Board is confident that the financial results for the Year will be in line with the market expectations

Highlights

Tatton Investment Management delivered another year of strong growth with record organic net inflows of £3.687 billion (2024: £2.303 billion), an increase of 60.1% on prior year net inflows. Average monthly net inflows through the Year have been £307 million with the strong momentum from H1 carrying through to H2. Net inflows in H1 were £1.832 billion, an average of £305 million per month, with a further £1.855 billion being achieved in H2 FY25, an average of £309 million per month.

This is the first full year of our new five-year "Roadmap for Growth" strategy, which set an ambitious target of £30.0 billion AUM/I¹ by 31 March 2029. We have made a strong start towards reaching the £30.0 billion target, adding £4.2 billion in the first year, with AUM/I¹ increasing to £21.825 billion (2024: £17.604 billion). The strong growth delivered in the Year was supported by the number of IFA firms increasing by 13.8% to 1,110 (2024: 975).

Paradigm, the Group's IFA support services business, has delivered a resilient performance in the Year. Paradigm Mortgages participated in mortgage completions totalling £13.7 billion (2024: £13.2 billion), a 3.6% increase year on year, with H2 completions of £7.1 billion, ahead of H1 by 6.6%. Performance was in line with our expectations, supported by stronger mortgage applications in the second half of the Year, which are also contributing to a healthy pipeline of potential completions as we head into the new financial year. New Mortgage member firms in the Year were 124 but totalled 1,915 at the end of the Year (2024: 1,916) following a rationalisation of a number of dormant firms. Consulting member firms were 425 at the end of the Year (2024: 424).

Chairman's Retirement

Today we also announce that Roger Cornick, who has served as Non-Executive Chairman of the Board since the Company's Initial Public Offering ("IPO") in July 2017, will retire at the Annual General Meeting ("AGM") at the end of July 2025.

Since taking the helm as Chairman, Roger's period in office has seen the transformation of TAM plc from a small, but forward looking, DFM practitioner to a market leader in this sector of the UK asset management world. In particular, he has been instrumental in building TAM plc as a trusted brand within the IFA community and his dedication to creating long-term value for shareholders, employees, and customers has been commendable.

The Board has agreed to appoint Chris Poil (Senior Non-Executive Director of TAM plc) as his successor, subject to shareholder approval, following the AGM at the end of July 2025. Until then, Roger remains committed to ensuring a seamless transition while building on the momentum established during his tenure.

Roger Cornick, Non-Executive Chairman of Tatton Asset Management plc, commented "It has been a privilege to serve as Chairman of Tatton Asset Management and to work alongside such a talented and dedicated management team. I am proud of what we have achieved together since the 2017 IPO, and I am confident that the Group is well-positioned to sustain the forward momentum that we have been able to achieve over this period - I will be retiring from an organisation with a very bright future."

Paul Hogarth, Founder and CEO of Tatton Asset Management plc, said "Roger has been an excellent Chairman bringing a huge amount of experience to the role and, on a personal note, has been a great mentor and friend to me over the past eight years. While we are sad to see him step down, his legacy will endure in the strong foundation he has helped to build.

"I am incredibly proud of the exceptional performance Tatton Asset Management has achieved in FY25, a year that marks the strongest organic growth in our history, with record net inflows of £3.7 billion, representing 22.3% of opening AUM. This outstanding result, alongside total AUM/I¹ reaching £21.8 billion, reflects the unwavering trust our clients and IFA partners place in us and is exemplified by the addition of 135 new IFA firm relationships, bringing our total to 1,110.

"This year saw the commencement of our ambitious five-year 'Roadmap for Growth' strategy, targeting £30 billion in AUM/I¹ by 2029. We have made an incredible start and most pleasing is the consistency of net inflows throughout the year, which averaged £307 million per month. I remain confident in our long-term vision and achieving the target in the coming years.

"These results are a testament to the dedication of our team and the strength of our partnerships with independent financial advisers. The Board is confident that our financial performance for FY25 will align with market expectations, and while we are cognisant of the current economic volatility and the impact that this is having on global markets, we remain optimistic and look forward to building on our success as we continue to empower advisers and deliver value to all our stakeholders."

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For more information, please visit: www.tattonassetmanagement.com