02 oct 25   tavistock investment - update re ongoing litigation tavistock investments plc | tavi | 4.8 -0.10 (-2.0%) | mkt cap: 24.1m    rns number : 6833b tavistock investments plc 02 october 2025   tavistock investments plc ("tavistock" or the "company")     2 october 2025     tavistock reasserts commitment to shareholders in titan legal dispute     further to the disclosures made in the company's financial statements for the year ended 31 march 2025, tavistock today provides an update on the ongoing litigation with titan wealth services limited and titan asset management limited ("titan").   in june 2021, tavistock announced its entry into a 10-year strategic partnership with titan wealth services limited. as a part of the arrangements titan acquired tavistock's asset management business and range of risk rated ucits sub-funds, branded acumen. it was also offered the opportunity to acquire tavistock's model portfolio service ("mps") but declined to do so.   less than one year into the partnership, tavistock began to uncover multiple breaches by titan of the strategic partnership agreement and earnout arrangements. in the opinion of tavistock's board, titan's failure to honour the undertakings that it gave regarding the management of the acquired business led to a collapse in the performance of the acumen funds.   in order to protect the interests of the company's shareholders, in 2024, tavistock put titan on notice of its intention to issue legal proceedings seeking damages. in response titan, issued a claim in the high court against the company on a peremptory basis. tavistock refuted this claim in the strongest terms and issued its own counterclaim seeking damages for multiple breaches of contract, including failures relating to the management of the acumen fund range and the misuse of confidential information.   in june 2025 tavistock made an application to expand the scope of its counterclaim against titan to include new causes of action in respect of titan's mps for breach of confidence, alleged misuse of trade secrets and copyright infringement, and to add titan wealth holdings limited as an additional party.    titan opposes the expansion of the scope of tavistock's counterclaim and has applied at the same time to strike out parts of the counterclaims.   a court hearing has now been listed for december 2025 to determine both parties' applications. the board remains confident in the strength of its case and continues to defend titan's claim and pursue its own counterclaims vigorously.   tavistock has offered titan the opportunity to resolve the dispute via mediation. to date, this offer has been rejected. unless titan's approach changes, tavistock will continue to pursue its claims through the courts.   brian raven, tavistock's chief executive, commented:   "this litigation is not just about damages - it is about accountability. the evidence is clear that titan's conduct caused reputational and financial harm, and we will not allow our shareholders to bear the cost of its mismanagement."   acumen fund performance under titan's management   between 27 august 2022 and 4 january 2024 (after tavistock began to uncover multiple breaches of contract), while under titan's management, the acumen fund suite experienced a dramatic collapse in performance. in all cases, the funds ranked in the bottom quartile of their respective peer groups for that 16-month period, in the 99th or 100th percentile.          performance post titan's breaches of contract (27th aug 2022 - 4th jan 2024)  performance vs benchmark quartile rank fund rank percentile rank acumen portfolio 4 -7.89% 4th 176/177 100th acumen portfolio 5 -8.27% 4th 177/177 100th acumen portfolio 6 -9.72% 4th 212/215 99th acumen portfolio 7 -11.19% 4th 214/215 100th acumen portfolio 8 -13.51% 4th 157/159 99th average -10.12% 4th  100th             source of data: fe analytics   the company continues to manage the litigation process efficiently and separately from its operational and strategic priorities, which remain unaffected. adverse costs insurance is also in place.   ends     for further information:   tavistock investments plc oliver cooke brian raven   tel: 01753 867000 allenby capital limited (nominated adviser and broker) corporate finance: nick naylor, daniel dearden-williams sales and corporate broking: tony quirke     tel: 020 3328 5656 flagstaff communications (financial pr/ir)                                                                                               tim thompson alison allfrey anna probert tavistock@flagstaffcomms.com tel: 0207 129 1474   infinite                                                                                                 (litigation pr) ryan mcsharry matthew gilleard     tel: 0207 269 1430   this information is provided by rns, the news service of the london stock exchange. rns is approved by the financial conduct authority to act as a primary information provider in the united kingdom. terms and conditions relating to the use and distribution of this information may apply. for further information, please contact rns@lseg.com or visit www.rns.com.  rns may use your ip address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. for further information about how rns and the london stock exchange use the personal data you provide us, please see our privacy policy.   end   updupggauupagwg return to news summary

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