Tatton: sector-leading net flows, double-digit profit growth
When many peers are contracting and seeing margins fall, this model-portfolio specialist continues to press the accelerator
Today my Equity Development research note was published covering Tatton’s interim results to 30 September 2023: Sector-leading net flows, double-digit profit growth.
It’s ability to attract and retain assets stands head-and-shoulders above that of all London-listed peers in this most recent half-year, and in the prior FY22. This is testament to its well-designed business model, powerful offering to clients, and ability to execute on its strategy.
Tatton’s margin is also impressive compared to peers, where it has consistently achieved one of the highest profit margins across the asset and wealth management sectors. In fact, it has the highest margin of any comparable company, with only Hargreaves Lansdown, the large-scale D2C platform having a higher margin.
Two key takeaways:
Tatton has designed and implemented a highly efficient and scalable business model; and
it is highly effective at controlling costs.
Have a read of the full research note here.
Please read the Investing in the Investors disclaimer here.
Disclosure: At the time of writing, Paul Bryant covered Tatton Asset Management as an analyst on behalf of Equity Development Limited. Read Equity Development’s research on Tatton Asset Management here. (Please read this link for the terms and conditions of reading Equity Development’s research).