Tatton Asset Management

Assets Under Management / Influence (AUM/I) rose 15% over H1 to a record £28.0bn at 30 September 2026, well ahead of the trajectory required to meet the medium term target of £30bn by end FY29. Investment performance added £2.4bn and net flows added £1.0bn.

Tatton Investment Management returned 8.8% versus 8.6% for the Morningstar PIMFA Private Investor Balanced Index, while the IFA base grew by 77 to 1,295. Management expect net flows of £200m to £250m per month in H2, in line with guidance.

Paradigm delivered a relatively strong performance in a weak housing market, with mortgage completions up 20% year on year to £10.0bn. Forecasts are upgraded, with FY27 revenue rising to £62.6m and adjusted operating profit to £33.9m.

Fair Value rises from 875p to 900p per share, more than 30% above the share price. A forward PER of 18x looks undemanding compared with peers, which supports our view that there is a gap between fundamental valuation and share price.

Equity Development - Tatton Asset Management: AUM/I +15% over H1, forecasts & valuation upgraded

Forecasts upgraded, growth sustained. FY26 beat across revenue, profit and margin, with strong net inflows and continued IFA expansion supporting confidence in FY27/28 upgrades.

Best‑in‑class model delivering. On‑platform DFM focus, low‑cost positioning and consistent performance underpin sector‑leading margins and sustained market share gains.

Cash generative, shareholder returns rising. Net cash £33.9m despite dividends, buybacks and investment, dividend up 42%, yield 4.5

Equity Development - Tatton Asset Management: Forecasts up, fundamental valuation rises to 875p

Tatton’s FY26 Trading Update indicates that results will be ahead of market expectations, showing continued strategic momentum and strong underlying flows, while maintaining a confident outlook despite a more uncertain market backdrop. Net flows were strong all year, but even stronger in H2.

FY26 revenue is expected to exceed £53m, above our forecast of £51.6m, with adjusted PBT likely above £27m (versus our forecast of £26.3m).

Performance was driven by robust and accelera

Equity Development - Tatton Asset Management: AUM beats forecast again, driven by strong flows

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After its Oct 25 trading update, we knew Tatton had maintained its exceptional growth momentum; Assets-Under-Management/ Influence (AUI) were up 18% over H1-26, and net flows remained strong at £281m/ month, above Tatton’s guidance for FY26 of £200-£250m per month. In the post-results period, AUI growth has continued, up another 5% to £27.1bn on 14 Nov 25. YTD net flows have increased from £1.68bn over H1 to £2.07bn.

Tatton Asset Management: Research

Tatton AM’s momentum shows no sign of abating. Assets Under Management/Influence (AUI) jumped 18% in H1 to a record £25.8bn; ahead of our forecast growth and well on track to meet Tatton’s medium-term target of £30bn by end-FY29 (page 3). 

This time last year, we wrote: “our key takeaway from Tatton’s hugely impressive last few years, is that it has designed and implemented a superior offering in platform-MPS with net flows consistently far higher than peers.” That view has only been reinforced with Tatton’s most recent trading update covering FY25 (Apr 24 – Mar 25). It recorded another year of record net inflows, as it did in FY24 (£3.7bn in FY25; £2.3bn in FY24) – a hugely impressive achievement given market 

Tatton Asset Management: Equity Development

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AUM jumped 14% over H1-25 (to 30 Sep 24) from £16.6bn to £18.9bn. Net inflows added £1,832m (22% p.a. inflow rate, far higher than all peers, see page 4), and investment returns £534m (3.2% over 6m). Including 50%-owned 8AM Global, Assets Under Management/Influence totalled £19.9bn. In the six weeks post-results, AUM/AUI increased another 4% to £20.6bn in early-Nov.

Tatton has recorded an exceptionally strong start to the next leg of its growth journey: in June ’24 it set a target of reaching £30bn of Assets-Under-Management or Influence (AUI) by end- FY29, an 11% CAGR. But H1-25 (to 30 Sep 24) saw AUM jump 14% in just six months from £16.6bn to £18.9bn. Net inflows contributed £1,832m (22% p.a. inflow rate), and investment returns £534m (3.2% over 6m), in line with the MSCI PIMFA Private Investors Balanced Index. Including the AUM of 50

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It has been a huge few years for Tatton. The three-year growth target of moving from £9bn AUM on 31 Mar 21 to £15bn Assets Under Influence (AUI) by 31 Mar 24 was comfortably exceeded, with AUI closing 17% above target at £17.6bn – a 96% gain over three years. 

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AUM jumped £3.8bn or +30% in FY24, reaching £16.6bn on 31 Mar 24, 12% above our previous forecast of £14.7bn. Including 50%-owned 8AM Global, Assets Under Influence hit £17.6bn.  Investment performance provided a tailwind, adding £1.5bn to AUM.

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RNS Number: 6477 O Tatton Asset Management PLC 01 February 2023 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.

Tatton Asset Mgt PLC - Holding(s) in Company

RNS Number: 2079 M Tatton Asset Management PLC 26 April 2018 TR-1: S tandard form for notification of major holdings.

RNS Number: 1361 M Tatton Asset Management PLC 25 April 2018 TR-1: S tandard form for notification of major holdings.

RNS Number: 6779 L Tatton Asset Management PLC 23 April 2018 The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation No. 596/ 2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to...

Tatton Asset Management

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Equity Development - Tatton Asset Management: AUM/I +15% over H1, forecasts & valuation upgraded

Equity Development - Tatton Asset Management: Forecasts up, fundamental valuation rises to 875p

Equity Development - Tatton Asset Management: AUM beats forecast again, driven by strong flows

The Exchange with Judith MacKenzie of Downing

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