Gresham House
Specialist asset management
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Gresham House Annual Results 2020
We are pleased to announce another year of strong growth, both organically and through acquisition, with Assets Under Management (AUM) increasing by 42% to £4.0 billion, and significant increases to revenue and adjusted operating profit.
The Group has momentum in fundraising and plans for further AUM growth across its divisions in 2021. The Board is also pleased to announce a 33% increase in the dividend to 6.0p (2019: 4.5p).
Financial highlights
| As at/for the year to 31 Dec 2020 | As at/for the year to 31 Dec 2019 | Change(%) | |
| Assets under management (£m) | 3,970 | 2,797 | +42 |
| Cash and liquid assets (£m) | 45.1 | 41.3 | +9 |
| Net core income (£m) | 40.8 | 31.7 | +29 |
| Adjusted operating profit (£m) | 12.1 | 10.3 | +17 |
| Net performance fees and gains on investments (£m) | 1.0 | 1.5 | -33 |
| Comprehensive net income (£m) | 0.8 | -0.8 | n/a |
| Dividend (p) | 6.0 | 4.5 | +33 |
- Strong AUM growth of 42% to £4.0 billion (2019: £2.8 billion), with organic growth of £1.0 billion (35%)
- Robust net core income growth of 29% to £40.8 million (2019: £31.7 million) and growth in adjusted operating profit of 17% to £12.1 million (2019: £10.3 million)
- Final dividend proposed to increase by 33% to 6.0 pence (2019: 4.5 pence)
- Good progress in first year of five-year strategic plan GH25 to create shareholder value as part of identified strategic and financial Group objectives
- International presence progressed by proposed acquisition of Appian Asset Management Limited, the EU-based regulated asset manager, subject to regulatory approval in 2021
- Enhanced client base, with six of the ten largest UK Local Government Pension Schemes investing in funds managed by Gresham House
- Continued investment in the team to scale AUM in identified areas of strong growth potential
Annual Results Webinar
Chief Executive, Tony Dalwood and Chief Financial Officer, Kevin Acton present Gresham House plc’s Annual Results for the financial year ending 31 December 2020.
The presentation covers:
- Financial highlights
- Operational highlights
- Progress on GH25
- Sustainable investment progress
Followed by a Q&A session
Proactive Investors
Chief Executive, Tony Dalwood and Chief Financial Officer, Kevin Acton speak to Proactive London’s Katie Pilbeam about their latest trading update for the 12-month period ending 31 December 2020.
“The growth within each of the asset classes at Gresham House reflects the quality of our investment teams and client demand for these specialist areas. We start the second year of the GH25 plan with positive momentum despite the ongoing macroeconomic and social challenges, and we continue to invest alongside our growth ambitions in order to deliver client targets and generate shareholder value from AUM growth”.
Tony Dalwood, Chief Executive
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