Tatton Asset Management (TAM) 2019年年度报告「LSE」.pdf

1、Annual Report and Accounts 2019Focusing on growthCONTENTSHIGHLIGHTSStrategic Report00 Highlights04 Chairmans Letter05 Chief Executives Review12 Chief Investment Officers Report14 Our Market Share15 Market Trends16 Business Model18 Our Strategy For Growth20 Key Performance Indicators22 Risk Managemen

2、t24 Principal Risks 26 Chief Financial Officers Report Corporate Governance28 Board of Directors30 Corporate Governance Statement32 Directors Remuneration Report35 Directors Report39 Independent Auditors ReportFinancial Statements44 Consolidated Statement of Total Comprehensive Income45 Consolidated

3、 Balance Sheet46 Consolidated Statement of Changes In Equity47 Consolidated Statement of Cash Flows48 Notes to the Consolidated Financial Statements71 Company Statement of Financial Position 72 Company Statement of Changes in Equity73 Notes to the Company Financial StatementsGROUP REVENUE(M)17.5m+12

4、.9%ADJUSTED EPS*(P)10.0p+9.9%PROFIT BEFORE TA X(M)6.1m+69.4%ADJUSTED OPERATING PROFIT*(M)7.3m+12.3%PROPOSED FINAL DIVIDEND(P)5.6p+27.3%AUM(BN)6.1bn+24.5%Financial Highlights Tattons discretionary assets under management(“AUM”)increased 24.5%to 6.1bn(2018:4.9bn)AUM net inflows increased to 1.1bn aver

5、aging over 90m per month Group revenue increased 12.9%to 17.5m(2018:15.5m)Adjusted Operating Profit*up 12.3%to 7.3m(2018:6.5m)Adjusted Operating Profit*margin 41.7%(2018:42.1%)Reported profit before tax increased to 6.1m(2018:3.6m),after charging exceptional items of 0.5m and share-based payment cha

6、rges of 0.9m Final dividend increased by 27.3%to 5.6p,giving a full year dividend of 8.4p Fully diluted adjusted EPS*increased by 9.9%to 10.0p(2018:9.1p)Strong financial position,with cash of 12.2m(2018:10.6m)Operational Highlights Tatton launched its new in-house administration portal ensuring scal