Tatton Asset Management has announced the acquisition of £650m Verbatim funds and a strategic distribution with fintech and support service provider Fintel.
Tatton will pay a cash consideration of up to £5.8m for Verbatim's multi-asset and multi-index funds. £2.8m has been paid in cash on completion with the remainder being subject to certain performance conditions over the next four years. AUM at 15 June was £9.5bn, the acquisition will increase its AUM to £10.2bn. Paul Hogarth, chief executive officer of Tatton, said: "The transaction clearly demonstrates the progress we are making in executing on our growth strategy. We have set out a roadmap for growth over the next three years, growing our AUM organically and by acquisition and ext...
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