# Gresham House plc Another Year of Significant Development with 50% Growth

- Link: https://www.directorstalkinterviews.com/gresham-house-plc-another-year-significant-development-50-growth/412726220
- Published: 2017-03-28T07:28:05+01:00
- Author: Giles Arbor

**Gresham House plc** ([LON:GHE](https://www.directorstalkinterviews.com/company/gresham-house-plc/ghe.l))
today announced it’s audited results for year ended 31 December 2016.

Delivering on Strategy, and Another Year of Significant Development with 50% Growth
in Assets Under Management

· Assets under management (“AUM”) in the year to 31 December 2016 increased 50% 
to £363 million (2015: £242 million)
 · Revenue growth of over 200% in the year 
to 31 December 2016 to £4.3 million (2015: £1.4 million), and reduced adjusted operating
loss in the year to £1.6 million (2015: £3.1 million) · Organic growth includes 
Gresham House Forestry LP and Gresham House Strategic Public Equity LP, with potential
value from carried interest arrangements · New strategic shareholders invested to
align with the Group and support long-term growth, including the recently announced
plan for the new Gresham House British Strategic Investment Fund · Strong balance
sheet with £26.9 million of tangible/realisable assets at year end (2015: £27.7 
million) and a further £7.3 million received on the issuance of shares to a new 
strategic shareholder, Berkshire Pension Fund, in March 2017

Platform

Strategic Equity

· Gresham House Asset Management (“GHAM”) appointed investment manager to LMS Capital
with AUM of £68 million at 31 December 2016
 · Gresham House Strategic Public Equity
LP (“SPE LP”) launched with committed AUM of £24 million at first close on 15 August
2016 · Gresham House Strategic plc (“GHS”) has seen NAV grow 6% over the period 
from 14 August 2015 to 31 December 2016, including a significant cash weighting

Real Assets

· Gresham House Forestry AUM grown by 20% to £247 million at 31 December 2016 (2015:
£205 million)
 · Gresham House Forestry Fund LP launched with committed capital 
of £15 million at first close on 31 October 2016

Process

· Investment in compliance and regulatory functions
 · Integration and rebranding
of Gresham House Forestry completed in the year and performance in line with achievement
of 15% return on invested capital acquisition criteria · LMS’s transition to GHAM
as an external manager progressing to plan, implementing cost savings and GHAM value-
add · Investment teams are performing well and delivering growth across the strategies

People

· Continued investment in a strong and dedicated team appointing a new Finance Director,
Chief Operating Officer and General Counsel, plus the lead fund manager for Gresham
House Forestry and experienced Investment Directors in the Strategic Equity division
·
Chief Technology Officer also joined in February 2017

Post reporting period

· Continued development in 2017, with Berkshire Pension Fund becoming a 20% strategic
shareholder.

> **Tony Dalwood, CEO of Gresham House Plc, comments:** “In 2015 we established 
> the foundations of a specialist asset manager and 2016 has seen us build Gresham
> House into a credible specialist player whilst developing the brand. This has 
> been enhanced by progress in early 2017, which has generated additional momentum
> that will drive further growth in the coming year. Our priority is to generate
> sustainable and increasing profits through growth in AUM. The positive recent 
> developments accelerate our path to profitability in the nearer term and hence
> long-term value creation for shareholders. We continue to work on a number of 
> organic and acquisition initiatives, including the recently announced Gresham 
> House British Strategic Investment Fund with local government pension schemes 
> and other long term investors.”

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