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Gresham House assets under management soar by 250 per cent

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Specialist asset management firm Gresham House trebled its assets under management (AUM) in 2018 following a string of acquisitions.

Shares were up more than three per cent on the news that AUM had soared 250 per cent in the year to the end of December last year, rising from £649m to £2.3bn.

Read more: Gresham House scoops up assets from Livingbridge in £30m deal

A total of 30 per cent of the increase in AUM was due to organic growth, while acquisitions accounted for the rest, as Gresham House remained unaffected by the market turbulence that hit other firms in the fourth quarter of last year.

Gresham House bought FIM Services and the asset management business of Livingbridge VC last year.

“Gresham house has reported strong full-year 2018 figures, with a marked uplift from 2017 after a transformative year, containing two significant acquisitions, which will make a full contribution in 2019," Phil Dobbin, equity analyst at Jefferies, said in a note this morning.

“AUM rose 250% and adjusted earnings moved past the inflection point into profit. Management has identified several areas of organic growth and will invest to support this."

Read more: Making an impact: Gresham House targets pension funds

Gresham House chief executive Tony Dalwood said: “We have continued to maintain momentum and make excellent progress in shareholder value creation whilst investing in the platform ahead of future growth, adding scale to the business and identifying synergies.”

“The 2019/2020 pipeline for further organic AUM growth is exciting.”

Published by
Jessica Clark