First quarter trading meets Gresham House's expectations

11th May 2023 12:13

(Sharecast News) - Specialist alternative asset manager Gresham House said in an update on Thursday that trading in the first quarter was in line with the board's expectations.

The AIM-traded firm, which was holding its annual general meeting, said assets under management reached £8bn as at 31 March.

That was up 2% on the £7.8bn it reported as of 31 December 2022.

"As markets continue to face many challenges, we are pleased to maintain positive growth across the business despite these challenging conditions," said non-executive chairman Anthony Townsend.

"Our mix of asset classes delivers attractive financial returns alongside non-financial benefits resulting in an ongoing healthy pipeline of further investment from our clients."

At 1058 BST, shares in Gresham House were down 1.26% at 789.9p.

Reporting by Josh White for Sharecast.com.