Gresham House continues momentum as income and AUM rise
Gresham House reported its tenth consecutive half-year increase in AUM despite a challenging backdrop as it looked to sustainable investment.
The figures
Assets under management (AUM) grew 16.7 per cent to £3.3bn in the first half of the year.
Core income increased 33 per cent while adjusted operating profit grew 15.5 per cent to £5.2m.
Why it’s interesting
Gresham House proved resilient through the pandemic with no employees furloughed or use of the business interruption loan scheme. It is the tenth consecutive half-year increase in AUM, despite the challenging backdrop.
The asset manager’s resilience during the pandemic is in part because its assets are less correlated, and therefore less sensitive to stock market movements.
Gresham House said the growth in AUM was in part due to a “growing interest in specialist and sustainable investments”.
The group added the integration of fund management business Traderisks is progressing well.
“Although there is continued market uncertainty, the quality of the individuals and the dynamic culture that exists within the
business are evident”, chairman Anthony Townsend said.
“The nature of our product areas and the increasing demand for alternative assets with sustainability characteristics give us confidence in the opportunities to fundraise across the business.”
Gresham House said it anticipates further fundraisings in a number of areas, notably forestry, housing, new energy and sustainable infrastructure.
What Gresham House said
Chief executive Tony Dalwood said: “We have continued to build and invest in our platform to achieve our strategic and financial objectives set out in the GH25 plan. Our AUM growth is testament to the strength and resilience of our investment strategies and our talented team despite the challenges due to the COVID-19 pandemic.
“With the strong foundation and robust balance sheet, we remain confident of maintaining our long-term growth trajectory.”