StockMarketWire.com - Tatton Asset Management booked a rise in annual profit after it boosted its funds under management.

Pre-tax profit for the year through March rose to £6.1m, up from £3.6m on-year.

Assets under management rose 25% to £6.1bn.

The company declared a final dividend of 5.6p per share, giving a full year dividend of 8.4p.

Tatton also announced that its investment management firm had been appointed by financial adviser company Tenet Group to provide it with managed portfolio services.

The three year appointment followed Tenet's decision to remove its centrally-supported advisory model portfolios and was made after a market review of service providers.

'This is a significant win for both companies and is a clear endorsement of our long-term strategy of aligning our business with the interests of financial adviser firms to our mutual benefit,' chief executive Paul Hogarth said.

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