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.

Key documents

    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

    Fund performance

    Past performance is not a guide to future performance. Capital at risk.

    Period202420232022202120202019201820172016201520142013
    Fund return*-0.43%12.85%-1.10%24.41%-7.23%25.51%-9.11%8.42%5.32%12.77%10.70%18.73%
    Close of business mid-market pricesDeal DateDealing Price €
    31/03/202401/04/2024293.0580
    29/02/202401/03/2024274.9723
    31/01/202401/02/2024276.7412
    31/12/202301/01/2024276.1655
    30/11/202301/12/2023263.3216
    31/10/2023 01/11/2023 254.0564
    30/09/202301/10/2023265.9702
    31/08/202301/09/2023 266.0492
    31/07/202301/08/2023 272.2015
    30/06/202301/07/2023 258.8144
    31/05/2023 01/06/2023253.7335
    30/04/202301/05/2023 262.4794
    31/03/2023 01/04/2023 258.5153
    28/02/202301/03/2023 268.3740
    31/01/2023 01/02/2023267.4741
    31/12/2022 01/01/2023244.7139
    30/11/202201/12/2022 255.2875
    31/10/2022 01/11/2022240.8197
    30/09/2022 01/10/2022 218.9346
    31/08/2022 01/09/2022235.0648
    31/07/202201/08/2022 244.9143
    30/06/202201/07/2022 228.1216
    31/05/2022 01/06/2022 257.7240
    30/04/2022 01/05/2022252.9134
    31/03/2022 01/04/2022254.2061
    28/02/2022 01/03/2022 253.2983
    31/01/202201/02/2022 253.5040
    31/12/2021 01/01/2022247.4261
    30/11/202101/12/2021 235.2835
    29/10/2021 01/11/2021 243.6374
    30/09/202101/10/2021 233.9535
    31/08/2021 01/09/2021236.6930
    30/07/202103/08/2021 234.5628
    30/06/202101/07/2021 233.8324
    31/05/2021 01/06/2021 234.7325
    30/04/2021 01/05/2021 231.3854
    31/03/202101/04/2021 230.1706
    26/02/2021 01/03/2021215.5247
    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
    30/04/202001/05/2020 161.5360
    31/03/202001/04/2020 150.7153
    28/02/2020 02/03/2020183.3350
    31/01/2020 03/02/2020 204.0899
    31/12/2019 02/01/2020214.3791
    30/11/201902/12/2019 208.5385
    31/10/201901/11/2019 199.3472
    30/09/2019 01/10/2019 196.7598
    30/08/201902/09/2019185.9152
    31/07/201901/08/2019194.6453
    28/06/2019 01/07/2019 194.6506
    31/05/201904/06/2019 184.4869
    30/04/201901/05/2019202.4074
    29/03/201901/04/2019194.0254
    28/02/2019 01/03/2019 193.0120
    31/01/2019 01/02/2019183.5979
    31/12/2018 02/01/2019 170.8029
    30/11/201803/12/2018 184.5390
    31/10/2018 01/11/2018 185.9720
    28/09/201801/10/2018 194.1220
    31/08/2018 03/09/2018 191.6550
    31/07/201801/08/2018195.5090
    29/06/2018 02/07/2018 189.9170
    31/05/2018 01/06/2018 189.6930
    30/04/2018 01/05/2018 186.1400
    29/03/201803/04/2018177.4450
    28/02/201801/03/2018183.4920
    31/01/201801/02/2018 190.7610
    29/12/2017 02/01/2018187.9130
    30/11/201701/12/2017183.4310
    31/10/2017 01/11/2017 186.5620
    29/09/201702/10/2017 182.0890
    31/08/201701/09/2017 173.9320
    01/08/2017 02/08/2017176.7910
    30/06/2017 03/07/2017 178.3080
    31/05/201701/06/2017 179.4420
    28/04/201702/05/2017182.8120
    31/03/2017 03/04/2017181.1890
    28/02/201701/03/2017179.5300
    31/01/201701/02/2017 173.4140
    30/12/201603/01/2017 173.3210
    30/11/201601/12/2016167.9600
    31/10/201631/10/2016 157.4320
    30/09/201603/10/2016157.7660
    31/08/2016 01/09/2016 160.3730
    31/07/201601/08/2016156.1040
    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 01/03/2016151.6280
    01/02/2016 01/02/2016 154.8410
    31/12/201504/01/2016 164.5670
    30/11/2015 01/12/2015169.7910
    30/10/201502/11/2015 164.3490
    30/09/2015 01/10/2015154.4030
    31/08/201501/09/2015160.1280
    31/07/2015 04/08/2015170.0700
    30/06/2015 01/07/2015164.2950
    31/05/2015 02/06/2015 170.5970
    30/04/2015 01/05/2015 165.2570
    31/03/2015 01/04/2015 164.8010
    27/02/201502/03/2015 162.2290
    30/01/201502/02/2015 153.8640
    31/12/2014 02/01/2015 145.9290
    30/11/2014 01/12/2014 142.7500
    31/10/2014 03/11/2014139.9580
    30/09/2014 01/10/2014 141.7210
    31/08/2014 01/09/2014 140.2770
    31/07/2014 01/08/2014137.0640
    30/06/201401/07/2014 138.0230
    30/05/2014 03/06/2014136.5940
    30/04/201401/05/2014 133.5550
    31/03/2014 01/04/2014 132.5030
    28/02/201403/03/2014133.7200
    31/01/2014 03/02/2014 129.3760
    31/10/2013 01/11/2013127.3340
    30/09/2013 01/10/2013124.2370
    30/08/2013 02/09/2013 122.3750
    31/07/2013 01/08/2013 122.0660
    30/06/2013 01/07/2013 118.4070
    31/05/201304/06/2013 121.8740

    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 

    k.hannon@greshamhouse.ie

    Investment team

    Derek Heffernan
    Chief Investment Officer

    Derek joined the Fund Management industry in 2008....

    Patrick Lawless
    Managing Director, Gresham House Asset Management Ireland Limited & Non-Executive Director, Gresham House Investment ICAV

    Patrick is the Managing Director and Chair of the ...

    Distribution team

    Kathryn Hannon
    Head of Private Clients, Gresham House Ireland

    Kathryn joined Gresham House Ireland in March 2022...

    silhouette
    Sean Breheny
    South of Ireland Business Development Executive

    Sean is a member of the Institute of Banking with ...

    Ian Naughton
    Senior Client Relationship Manager

    Ian joined Gresham House Ireland (formerly Appian ...

    Gresham House Asset Management Ireland Limited Board

    Brian O’Kelly
    Chairman, Gresham House Asset Management Ireland Limited

    Brian has over 30 years of industry experience. Pr...

    Catherine Duffy
    Non-Executive Director, Gresham House Asset Management Ireland Limited

    Catherine is a former partner and Chair of one of ...

    John Bruder
    Managing Director, Real Estate, Gresham House Ireland

    Co-Founder and MD of Real Estate, Gresham House Ir...

    silhouette
    Pat Cox
    Non-Executive Director, Gresham House Asset Management Ireland Limited

    Pat joined the Board in September 2017. He current...

    Patrick Lawless
    Managing Director, Gresham House Asset Management Ireland Limited & Non-Executive Director, Gresham House Investment ICAV

    Patrick is the Managing Director and Chair of the ...

    Shareholder information

    View or subscribe to the key shareholder information for this company.

    Gresham House Unit Trust – Annual Report and Accounts – 30 September 2022 >>

    Appian Unit Trusts – Annual Report and Accounts – 30 September 2021 >>

    Appian Unit Trusts – Annual Report and Accounts- 30 September 2020 >>

    Appian Unit Trusts – Annual Report and Accounts – 30 September 2019 >>

    Gresham House Unit Trust – Interim Report and Accounts – 31 March 2023 >>

    Appian Unit Trusts – Interim Report and Accounts – 31 March 2022 >>

    Appian Unit Trusts – Interim Report and Accounts – 31 March 2021 >>

    Appian Unit Trusts – Interim Report and Accounts – 31 March 2020 >>

    Appian Unit Trusts – Interim Report and Accounts – 31 March 2019 >>

    Date Factsheet Commentary
    31/03/2024 Factsheet - March 2024 >>
    29/02/2024 Factsheet - February 2024 >>
    31/01/2024 Factsheet - January 2024 >>
    31/12/2023 Factsheet - December 2023 >>
    30/11/2023 Factsheet - November 2023 >>
    31/10/2023 Factsheet - October 2023 >>
    30/09/2023 Factsheet - September 2023 >>
    31/08/2023 Factsheet - August 2023 >>
    31/07/2023 Factsheet - July 2023 >>
    30/06/2023 Factsheet - June 2023 >>
    31/05/2023 Factsheet - May 2023 >>
    30/04/2023 Factsheet - April 2023 >>
    31/03/2023 Factsheet - March 2023 >>
    28/02/2023 Factsheet - February 2023 >>
    31/01/2023 Factsheet - January 2023 >>
    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 >>

    Gresham House Global Equity Fund – PRIIP >>

    Gresham House Unit Trust Prospectus >>

    Gresham House Global Equity Fund Supplementary Prospectus >>

    Close of business mid-market pricesDeal DateDealing Price €
    31/03/202401/04/2024293.0580
    29/02/202401/03/2024274.9723
    31/01/202401/02/2024 276.7412
    31/12/202301/01/2024 276.1655
    30/11/202301/12/2023 263.3216
    31/10/2023 01/11/2023 254.0564
    30/09/202301/10/2023 265.9702
    31/08/2023 01/09/2023266.0492
    31/07/202301/08/2023272.2015
    30/06/2023 01/07/2023258.8144
    31/05/2023 01/06/2023253.7335
    30/04/2023 01/05/2023 262.4794
    31/03/202301/04/2023 258.5153
    28/02/2023 01/03/2023268.3740
    31/01/202301/02/2023267.4741
    31/12/202201/01/2023 244.7139
    30/11/2022 01/12/2022 255.2875
    31/10/2022 01/11/2022 240.8197
    30/09/2022 01/10/2022218.9346
    31/08/2022 01/09/2022235.0648
    31/07/202201/08/2022 244.9143
    30/06/202201/07/2022228.1216
    31/05/202201/06/2022257.7240
    30/04/202201/05/2022252.9134
    31/03/2022 01/04/2022 254.2061
    28/02/202201/03/2022253.2983
    31/01/202201/02/2022253.5040
    31/12/2021 01/01/2022 247.4261
    30/11/2021 01/12/2021 235.2835
    29/10/202101/11/2021 243.6374
    30/09/2021 01/10/2021233.9535
    31/08/2021 01/09/2021236.6930
    30/07/202103/08/2021 234.5628
    30/06/2021 01/07/2021 233.8324
    31/05/2021 01/06/2021 234.7325
    30/04/202101/05/2021231.3854
    31/03/202101/04/2021230.1706
    26/02/202101/03/2021 215.5247
    29/01/202101/02/2021 198.4038
    31/12/202004/01/2021198.8797
    30/11/202001/12/2020 190.6874
    30/10/202002/11/2020160.4715
    30/09/202001/10/2020165.0116
    31/08/202001/09/2020 172.7102
    31/07/2020 04/08/2020 166.0427
    30/06/202001/07/2020166.5643
    31/05/2020 02/06/2020164.1420
    30/04/202001/05/2020161.5360
    31/03/2020 01/04/2020 150.7153
    28/02/2020 02/03/2020183.3350
    31/01/202003/02/2020204.0899
    31/12/201902/01/2020214.3791
    30/11/2019 02/12/2019208.5385
    31/10/2019 01/11/2019 199.3472
    30/09/2019 01/10/2019196.7598
    30/08/201902/09/2019185.9152
    31/07/201901/08/2019 194.6453
    28/06/2019 01/07/2019194.6506
    31/05/2019 04/06/2019184.4869
    30/04/201901/05/2019202.4074
    29/03/201901/04/2019 194.0254
    28/02/201901/03/2019 193.0120
    31/01/2019 01/02/2019183.5979
    31/12/201802/01/2019170.8029
    30/11/201803/12/2018 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
    28/02/201801/03/2018 183.4920
    31/01/201801/02/2018 190.7610
    29/12/201702/01/2018 187.9130
    30/11/201701/12/2017 183.4310
    31/10/2017 01/11/2017186.5620
    29/09/201702/10/2017 182.0890
    31/08/201701/09/2017173.9320
    01/08/201702/08/2017 176.7910
    30/06/201703/07/2017178.3080
    31/05/201701/06/2017 179.4420
    28/04/201702/05/2017 182.8120
    31/03/201703/04/2017 181.1890
    28/02/201701/03/2017 179.5300
    31/01/201701/02/2017 173.4140
    30/12/201603/01/2017173.3210
    30/11/2016 01/12/2016 167.9600
    31/10/201631/10/2016 157.4320
    30/09/201603/10/2016 157.7660
    31/08/201601/09/2016 160.3730
    31/07/201601/08/2016156.1040
    30/06/201601/07/2016153.5840
    31/05/201601/06/2016 158.9810
    29/04/2016 03/05/2016 155.3960
    31/03/2016 01/04/2016154.9890
    01/03/2016 01/03/2016 151.6280
    01/02/2016 01/02/2016154.8410
    31/12/2015 04/01/2016 164.5670
    30/11/2015 01/12/2015 169.7910
    30/10/201502/11/2015 164.3490
    30/09/2015 01/10/2015 154.4030
    31/08/201501/09/2015160.1280
    31/07/2015 04/08/2015 170.0700
    30/06/201501/07/2015 164.2950
    31/05/201502/06/2015170.5970
    30/04/2015 01/05/2015165.2570
    31/03/201501/04/2015164.8010
    27/02/2015 02/03/2015 162.2290
    30/01/201502/02/2015 153.8640
    31/12/2014 02/01/2015 145.9290
    30/11/2014 01/12/2014 142.7500
    31/10/201403/11/2014139.9580
    30/09/201401/10/2014 141.7210
    31/08/2014 01/09/2014 140.2770
    31/07/201401/08/2014137.0640
    30/06/201401/07/2014 138.0230
    30/05/201403/06/2014136.5940
    30/04/201401/05/2014 133.5550
    31/03/2014 01/04/2014 132.5030
    28/02/201403/03/2014 133.7200
    31/01/2014 03/02/2014129.3760
    31/10/201301/11/2013 127.3340
    30/09/2013 01/10/2013124.2370
    30/08/201302/09/2013122.3750
    31/07/201301/08/2013 122.0660
    30/06/2013 01/07/2013 118.4070
    31/05/201304/06/2013121.8740
    Period202420232022202120202019201820172016201520142013
    Fund return*-0.43%12.85%-1.10%24.41%-7.23%25.51%-9.11%8.42%5.32%12.77%10.70%18.73%

    Supplementary Prospectus >>

    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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