Gresham House says UK FCA approves proposed subscription

Gresham House said the UK Financial Conduct Authority has approved the proposed subscription by The Royal County of Berkshire Pension Fund.

Late last month, specialist asset manager Gresham said The Royal Borough of Windsor and Maidenhead, acting as the Administering Authority for The Royal County of Berkshire Pension Fund, intended to become a strategic investor in the company.

At that time, Gresham also announced its intention to launch the Gresham House British Strategic Investment Fund as part of an alternative investment platform to support the investment objectives of longer term institutional investors.

This latter group included local government pension schemes, endowments and family offices.

At 10:47 GMT, shares in AIM-quoted Gresham were flat at 323.5p.