Gresham House non-exec buys shares ahead of jump

20th Apr 2011 16:58

Stephen Ackerman, a non-executive at Gresham House, made a handsome profit on shares he bought on the same day the investment trust issued its results.He bought 5,000 shares at 329p a go, paying a total of £16,450, ahead of an 8.5% rise in the shares that saw them close at 345p.Gresham narrowed its losses in 2010 and announced that it will be changing its investment strategy "to enable the orderly realisation of the group's assets over a period of approximately two years with a view to returning capital to shareholders."Ackerman was appointed as a non-exec last year. He has 12 years' experience investing in UK listed equity and debt securities, specialising in undervalued asset backed companies.