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Gresham House revenue soars 254% after year of transformation

Gresham House’s revenue has grown 254% to £1.7 million up from £482,000 compared to the same period in 2015.

In its results for the six months ending June, the asset management company suffered a £1.65 million loss, down from £52,000 in profit the previous year. This was attributed to continued investment in the business including transaction costs and financing fees.

The firm’s third party assets under management reached £359 million.

Gresham House’s transformation into a specialist asset manager began in 2014 and since then the company has grown both organically and through acquisitions. Most recently it has taken on the management of LMS Capital and announced the launch of its Strategic Public Equity fund. Both are expected to increase the income through the addition of management fees in the second half of the year.

The company also launched Gresham House Forestry following the acquisition of Aitchesse.

Following the successful transformation of the business from an investment trust, the chief executive Anthony Dalwood, said that the next stage is the ‘transition from a net asset value business model to one of assets under management with management fees and performance fees’.

It is expected to launch a forestry fund in the second half of the year which will be acquiring a portfolio of forests for £12.1 million in the west of Scotland.
Dalwood added: ‘The focus remains on higher margin and alternative asset management product, which can also generate long term performance fees.
‘These asset classes continue to see increased allocation from pension funds, institutional investors, family offices and high-net-worth individuals. Opportunities for Gresham House to grow organically and through further acquisitions are evident.’

Citywire | 28.09.16

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