4th Nov 2021 16:24
Gresham House PLC - asset manager - Due to continued positive growth and momentum in all divisions, has increased its target for assets under management to grow 33% to GBP8 billion from the prior target of GBP6 billion.
With the completed acquisition of the Venture Capital Trust business of Mobeus Equity Partners LLP on October 1, the group's proforma AUM stood at GBP5.4 billion.
Gresham House has maintained its earnings before interest, tax, depreciation and amortisation margin of 40%.
"We are delighted to be upgrading our GH25 AUM target by 33% to GBP8 billion. We are seeing strong momentum across all areas of our business, driven by continued appetite for our private market, and specialist ESG-focused strategies. Since we announced the GH25 strategy only 20 months ago, we have made clear progress towards achieving our objectives to become a recognised leader in ESG and sustainable investing, deliver superior returns, build market share in specialist product areas, and develop internationally," says Chief Executive Tony Dalwood.
Current stock price: 855.00 pence
Year-to-date change: up 8.6%
By Dayo Laniyan; [email protected]
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