Gresham House posts resilient asset growth despite challenging backdrop
Gresham House said it saw “resilient growth in a challenging environment”, as assets under management continue to climb.
In its half year results, assets under management (AUM) rose 11 per cent to £7.3bn, driving an increase in adjusted operating profit to £13.2m and a continued increase in operating margin to 35 per cent.
Gresham House said the 11 per cent rise in AUM came from both organic (eight per cent) and acquisitive (three per cent).
Adjusted operating profit was also up 91 per cent to £13.2m, compared to £6.9m in 2021.
Commenting on the results, chief exec Tony Dalwood said: “We have delivered a strong increase in AUM, with organic growth and robust net fundraising across all business divisions, despite the challenges of the macroeconomic environment.
Our performance illustrates the strength of investor appetite for the asset classes in which we specialise and has enabled us to further enhance the depth and breadth of our client base.”
Since the 2014 management buy-in, Gresham House has grown to over 200 employees across offices in England, Scotland, and Ireland, with AUM in the UK, Europe and Australasia.