Gresham House Global Equity Fund
The Gresham House Global Equity Fund is an actively managed, concentrated global equity fund that invests in large-cap quality companies at attractive valuations. We believe this is the path to achieving long-term superior risk-adjusted returns.
We define quality within equities as the ability to generate excellent returns on capital and turn these returns into cash. The ability to generate high levels of returns and translate these returns into cash allows companies to return cash to shareholders in the form of dividends and invest in the business.
This helps drive long-term dividend growth, and ultimately, share prices.
Valuation drives all our investment decisions. Subsequently, the Fund’s holdings have a dividend yield in excess of the market and a lower price-to-earnings ratio than that of the market.
Our approach
Investors in the Gresham House Global Equity Fund can benefit from:
High conviction: This is a concentrated fund which typically invests in 30-40 companies. We believe this is the best way to strive for returns while managing the risk in the underlying equities.
A focus on the long term: We aim to make the right investment decision for the long term. However, we will be active if the valuation or quality characteristics of our positions change.
Active management: We are not constrained by the benchmark. We invest where we believe we find the right combination of quality and value. Subsequently, this Fund is substantially different from its comparative indices, as illustrated by its high active share.


Our process
A disciplined investment process complements our strong Investment philosophy. The following are the key elements of that process.
- Individual security selection is based on a bottom-up analysis focusing on the fundamentals of individual securities
- We focus on three quality drivers: cashflow generation, solid balance sheets and an ability to generate profitable growth
- Avoiding risk is at the core of our investment philosophy and is integrated into our investment process. We consider valuation, the quality of underlying investment and the risk associated with ESG factors
How to invest
Prospective investors can access information about how to invest in our products, by directly contacting
Kathryn Hannon, Head of Private Clients
+353 87 741 6057

Investment team

Derek joined the Fund Management industry in 2008. Previously, he worked as a Senior Equity Portfolio Manager within the Treasury Asset Management division of the IKEA Group. Prior to this he held the position of Portfolio Manager with AGF, a Canadian mutual fund company.
Derek has considerable experience in managing Global Equity Portfolios and has spent time working overseas in Singapore. He holds an MBS (Corporate Finance and Accounting) from University College Cork, a BBS (Economics and Finance) from the University of Limerick and the Chartered Financial Analyst (CFA) designation.

Niall takes the lead in managing our large cap equity portfolios. Niall has over fifteen years’ successful experience in Fund Management. Previously, he worked with AGF, a Canadian mutual fund company, where he held the position of Senior Portfolio Manager. Niall has considerable experience in managing Global Equity Portfolios and has spent periods of time working in North America and Asia. Niall is a qualified investment professional, holding an MBS in Financial Services from University College Dublin and the Chartered Financial Analyst designation.

John’s primary responsibility is managing our Small Company Fund. John previously worked with Merrion Stockbrokers where he held the position of Senior Equity Analyst. He previously worked for Norwich Union Investment Managers and NCB Stockbrokers. John who holds an MSc in Investment and Treasury from Dublin City University was voted Finance Magazine’s Analyst of the Year in 2007 and 2008. John is a registered representative of the Irish Stock Exchange and an associate member of the Chartered Institute for Securities & Investment.
Distribution team

Kathryn joined Gresham House Ireland in March 2022 to spearhead our offering for private clients. She has worked as an investment manager with private clients for over 15 years, aligning their investment strategies with their personal goals, across various wealth structures. She has over 20 years’ experience in the wealth management sector, having advised individuals and their families, not-for-profits, corporates and pension clients in this time.
Kathryn graduated with a degree in Corporate Law and interned at MetLife Bank in New York prior to commencing her career at a large wealth management business in Dublin. She is a Chartered Member of the Securities & Investment Institute in London and holds the CFP® designation. She also holds a first-class MSc in Financial Services, and has served as a Professional Pension Trustee Practitioner. Demonstrating her commitment to sustainable investing, Kathryn recently completed the ESG Certificate via the CFA.

Sean is a member of the Institute of Banking with over 38 years experience in the financial services industry. Sean has worked / lived in Waterford, Thurles, Kilkenny and Cork holding branch manager, area and regional management positions. Sean now lives in Cork and is Appian’s South of Ireland business development manager.

Patrick founded Gresham House Asset Management Ireland Limited (formerly Appian Asset Management Limited) in 2002 after completing the management buy-out of the private client arm of Aberdeen Asset Management Ireland Limited. He has over 30 years’ investment experience in the fund management, stockbroking and private banking businesses and was Head of Investment for ABN AMRO Bank in Ireland.
He is a qualified Investment Analyst, is a member of the Chartered Financial Analysts Institute and the Society of Investment Professionals in the UK and Ireland. Patrick is also a member and director of the Board of the Irish Association of Investment Managers (IAIM).

Ian joined Gresham House Ireland (formerly Appian Asset Management) in June 2009 after spending over five years at Bear Stearns. Ian worked within Bear’s Fixed Income/Equity operational departments for two years followed by three years in the Legal & Compliance Department where he worked as an AMLO Officer & Compliance Officer. In June 2009, Ian worked within the Account Opening/Compliance departments before managing the operations department. Ian has built up a strong relationship with our brokers and clients over the past nine years. Ian brings a wealth of experience into our client relationship team having worked in the industry for nearly 14 years. Ian is a Qualified Financial Advisor.
Gresham House Asset Management Ireland Limited Board

Brian has over 30 years of industry experience. Previously Co-Head of Investment Banking and Managing Director of Corporate Finance in Goodbody Stockbrokers, Mr. O’Kelly has deep knowledge of financial markets having operated at the highest level at a regulated entity at Goodbody Stockbrokers. He also sat on the board of Directors at Goodbody Stockbrokers and Ganmac Holdings, the holding company of the Goodbody Group. He was previously the Senior Independent Director at Irish Continental Group plc.

Catherine is a former partner and Chair of one of Ireland’s leading law firms, A&L Goodbody. During her partnership she was head of the financial services and banking department and head of its asset finance group. She has advised many RFSP’s in meeting their obligations in the banking and private equity space. Her practice included all aspects of banking including corporate and acquisition financing, asset financing, securitisation, and general banking. Catherine has also been a director of a publicly quoted firm.

Co-Founder and MD of Real Estate, Gresham House Ireland. He has over 35 years experience in property and investment management and was previously Managing Director of Treasury Holdings Ireland having joined the company in 2000. Before that he was Head of Property with AIB Investment Managers Ltd.
In 2001 he served as President of the Society of Chartered Surveyors in Ireland (SCSI). He is a Fellow of the SCSI and of the Royal Institution of Chartered Surveyors. He has an MBA from University College Dublin and was the Chairman of the Urban Land Institute Ireland.

Pat is a former Irish politician and television current affairs presenter. He was President of the European Parliament from 2002 to 2004 and served as a member of the European Parliament from 1989 to 2004. Prior to this he was a journalist and presenter with RTÉ’s Today Tonight and then a Teachta Dála (TD) for Cork South–Central. He fills advisory and Board level roles on a variety of commercial, charitable and European bodies.

Patrick founded Gresham House Asset Management Ireland Limited (formerly Appian Asset Management Limited) in 2002 after completing the management buy-out of the private client arm of Aberdeen Asset Management Ireland Limited. He has over 30 years’ investment experience in the fund management, stockbroking and private banking businesses and was Head of Investment for ABN AMRO Bank in Ireland.
He is a qualified Investment Analyst, is a member of the Chartered Financial Analysts Institute and the Society of Investment Professionals in the UK and Ireland. Patrick is also a member and director of the Board of the Irish Association of Investment Managers (IAIM).
Shareholder information
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Date | Factsheet | Commentary |
---|---|---|
31/12/2022 | Factsheet - December 2022 >> | |
30/11/2022 | Factsheet - November 2022 >> | |
31/01/2022 | Factsheet - January 2022 >> | |
28/02/2022 | Factsheet - February 2022 >> | |
31/03/2022 | Factsheet - March 2022 >> | |
30/04/2022 | Factsheet - April 2022 >> | |
31/05/2022 | Factsheet - May 2022 >> | |
30/06/2022 | Factsheet - June 2022 >> | |
31/07/2022 | Factsheet - July 2022 >> | |
31/08/2022 | Factsheet - August 2022 >> | |
30/09/2022 | Factsheet - September 2022 >> | |
31/10/2022 | Factsheet - October 2022 >> |
Close of business mid-market prices | Deal Date | Dealing Price € |
31/12/2022 | 01/01/2023 | 244.7139 |
30/11/2022 | 01/12/2022 | 255.2875 |
31/10/2022 | 01/11/2022 | 240.8197 |
30/09/2022 | 01/10/2022 | 218.9346 |
31/08/2022 | 01/09/2022 | 235.0648 |
31/07/2022 | 01/08/2022 | 244.9143 |
30/06/2022 | 01/07/2022 | 228.1216 |
31/05/2022 | 01/06/2022 | 257.7240 |
30/04/2022 | 01/05/2022 | 252.9134 |
31/03/2022 | 01/04/2022 | 254.2061 |
28/02/2022 | 01/03/2022 | 253.2983 |
31/01/2022 | 01/02/2022 | 253.5040 |
31/12/2021 | 01/01/2022 | 247.4261 |
30/11/2021 | 01/12/2021 | 235.2835 |
29/10/2021 | 01/11/2021 | 243.6374 |
30/09/2021 | 01/10/2021 | 233.9535 |
31/08/2021 | 01/09/2021 | 236.6930 |
30/07/2021 | 03/08/2021 | 234.5628 |
30/06/2021 | 01/07/2021 | 233.8324 |
31/05/2021 | 01/06/2021 | 234.7325 |
30/04/2021 | 01/05/2021 | 231.3854 |
31/03/2021 | 01/04/2021 | 230.1706 |
26/02/2021 | 01/03/2021 | 215.5247 |
29/01/2021 | 01/02/2021 | 198.4038 |
31/12/2020 | 04/01/2021 | 198.8797 |
30/11/2020 | 01/12/2020 | 190.6874 |
30/10/2020 | 02/11/2020 | 160.4715 |
30/09/2020 | 01/10/2020 | 165.0116 |
31/08/2020 | 01/09/2020 | 172.7102 |
31/07/2020 | 04/08/2020 | 166.0427 |
30/06/2020 | 01/07/2020 | 166.5643 |
31/05/2020 | 02/06/2020 | 164.1420 |
30/04/2020 | 01/05/2020 | 161.5360 |
31/03/2020 | 01/04/2020 | 150.7153 |
28/02/2020 | 02/03/2020 | 183.3350 |
31/01/2020 | 03/02/2020 | 204.0899 |
31/12/2019 | 02/01/2020 | 214.3791 |
30/11/2019 | 02/12/2019 | 208.5385 |
31/10/2019 | 01/11/2019 | 199.3472 |
30/09/2019 | 01/10/2019 | 196.7598 |
30/08/2019 | 02/09/2019 | 185.9152 |
31/07/2019 | 01/08/2019 | 194.6453 |
28/06/2019 | 01/07/2019 | 194.6506 |
31/05/2019 | 04/06/2019 | 184.4869 |
30/04/2019 | 01/05/2019 | 202.4074 |
29/03/2019 | 01/04/2019 | 194.0254 |
28/02/2019 | 01/03/2019 | 193.0120 |
31/01/2019 | 01/02/2019 | 183.5979 |
31/12/2018 | 02/01/2019 | 170.8029 |
30/11/2018 | 03/12/2018 | 184.5390 |
31/10/2018 | 01/11/2018 | 185.9720 |
28/09/2018 | 01/10/2018 | 194.1220 |
31/08/2018 | 03/09/2018 | 191.6550 |
31/07/2018 | 01/08/2018 | 195.5090 |
29/06/2018 | 02/07/2018 | 189.9170 |
31/05/2018 | 01/06/2018 | 189.6930 |
30/04/2018 | 01/05/2018 | 186.1400 |
29/03/2018 | 03/04/2018 | 177.4450 |
28/02/2018 | 01/03/2018 | 183.4920 |
31/01/2018 | 01/02/2018 | 190.7610 |
29/12/2017 | 02/01/2018 | 187.9130 |
30/11/2017 | 01/12/2017 | 183.4310 |
31/10/2017 | 01/11/2017 | 186.5620 |
29/09/2017 | 02/10/2017 | 182.0890 |
31/08/2017 | 01/09/2017 | 173.9320 |
01/08/2017 | 02/08/2017 | 176.7910 |
30/06/2017 | 03/07/2017 | 178.3080 |
31/05/2017 | 01/06/2017 | 179.4420 |
28/04/2017 | 02/05/2017 | 182.8120 |
31/03/2017 | 03/04/2017 | 181.1890 |
28/02/2017 | 01/03/2017 | 179.5300 |
31/01/2017 | 01/02/2017 | 173.4140 |
30/12/2016 | 03/01/2017 | 173.3210 |
30/11/2016 | 01/12/2016 | 167.9600 |
31/10/2016 | 31/10/2016 | 157.4320 |
30/09/2016 | 03/10/2016 | 157.7660 |
31/08/2016 | 01/09/2016 | 160.3730 |
31/07/2016 | 01/08/2016 | 156.1040 |
30/06/2016 | 01/07/2016 | 153.5840 |
31/05/2016 | 01/06/2016 | 158.9810 |
29/04/2016 | 03/05/2016 | 155.3960 |
31/03/2016 | 01/04/2016 | 154.9890 |
01/03/2016 | 01/03/2016 | 151.6280 |
01/02/2016 | 01/02/2016 | 154.8410 |
31/12/2015 | 04/01/2016 | 164.5670 |
30/11/2015 | 01/12/2015 | 169.7910 |
30/10/2015 | 02/11/2015 | 164.3490 |
30/09/2015 | 01/10/2015 | 154.4030 |
31/08/2015 | 01/09/2015 | 160.1280 |
31/07/2015 | 04/08/2015 | 170.0700 |
30/06/2015 | 01/07/2015 | 164.2950 |
31/05/2015 | 02/06/2015 | 170.5970 |
30/04/2015 | 01/05/2015 | 165.2570 |
31/03/2015 | 01/04/2015 | 164.8010 |
27/02/2015 | 02/03/2015 | 162.2290 |
30/01/2015 | 02/02/2015 | 153.8640 |
31/12/2014 | 02/01/2015 | 145.9290 |
30/11/2014 | 01/12/2014 | 142.7500 |
31/10/2014 | 03/11/2014 | 139.9580 |
30/09/2014 | 01/10/2014 | 141.7210 |
31/08/2014 | 01/09/2014 | 140.2770 |
31/07/2014 | 01/08/2014 | 137.0640 |
30/06/2014 | 01/07/2014 | 138.0230 |
30/05/2014 | 03/06/2014 | 136.5940 |
30/04/2014 | 01/05/2014 | 133.5550 |
31/03/2014 | 01/04/2014 | 132.5030 |
28/02/2014 | 03/03/2014 | 133.7200 |
31/01/2014 | 03/02/2014 | 129.3760 |
31/10/2013 | 01/11/2013 | 127.3340 |
30/09/2013 | 01/10/2013 | 124.2370 |
30/08/2013 | 02/09/2013 | 122.3750 |
31/07/2013 | 01/08/2013 | 122.0660 |
30/06/2013 | 01/07/2013 | 118.4070 |
31/05/2013 | 04/06/2013 | 121.8740 |
Period | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
Fund return* | 18.73% | 10.70% | 12.77% | 5.32% | 8.42% | -9.11% | 25.51% | -7.23% | 24.41% | -1.10% |
Adverse sustainability impacts
Pursuant to Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector (“SFDR”), the Fund is not classified as an Article 8 or Article 9 fund, however, disclosure in accordance with the requirements of Article 6 of SFDR in relation to the integration of sustainability risks, which is applicable to the Fund, is set out in the Prospectus. The Fund does not consider adverse impacts of investment decisions on sustainability factors, as defined under SFDR, as it is not required to do so under Article 4(3).
EU Taxonomy
The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
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