Monday 16 September 2019 12:33 pm

Gresham House reports jump in assets under management

Gresham House has reported an 8.1 per cent increase in assets under management (AUM) for the first half of 2019, which the asset manager said was driven by an increase in organic growth, pushing its income up over 200 per cent.

The specialist alternative asset management firm had £2.5bn AUM at the end of June, up from £2.3bn at the end of 2018.

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Gresham’s income increased significantly during the first half, rising 209 per cent to £15.3m, compared to £4.9m during the same period last year.

The company reported an adjusted operating margin of 29 per cent, which it described as “strong progress” towards its stated target of 40 per cent.

Gresham had a bumper year in 2018, during which it trebled its AUM following a string of acquisitions including FIM Services and the asset management business of Livingbridge VC.

Responding to today’s results, chief executive Tony Dalwood said: “Our focus on alternative asset management remains increasingly of interest as allocations to these areas continue to build.

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“Alongside revenues,” he continued, “the Gresham House brand is growing, and we are increasingly well-placed for the important shift towards ESG [environmental, social, and corporate governance] and sustainable investment.”

“We have made significant progress developing our platform, including enhanced capability within sales and distribution, in order to scale in the future whilst looking at international opportunities in a post-Brexit world,” said Dalwood.

Main image credit: Getty