AUM was up from £11.34bn a year earlier and closer to its £15bn company target by the end of 2024.

Net inflows for the year were £1.79bn, up from £1.28bn, it said in a trading update published today.

Net inflows in the second half of the year were £0.89bn, an average of £148m per month, it said.

Its AUM was further increased through the acquisition of 50% of the share capital of 8AM Global Limited in August 2022, which added assets under influence (AUI) of £1.14bn.

Tatton paid £7m for its half-share in the business.

Paul Hogarth, chief executive, said the year had, “been a difficult and volatile market environment for most asset managers.”

He said that: “In addition to the £1.1bn of AUI acquired with 8AM in August, Tatton Investment Management delivered record organic net inflows of £1.8bn, a 40.5% increase on the prior year and a 71.5% increase over the average of the last five years (five-year average: £1.046bn).”

He added: “The market drivers remain unchanged and we will continue to invest to strengthen the team in order to take advantage of the sizeable opportunity for further organic growth in the years ahead.”

The company said it was confident that the financial results for the year will be in line with consensus market expectations. 

The group’s audited final results are scheduled to be published on 13 June.