Gresham House upbeat on progress through third quarter

Specialist alternative asset manager Gresham House reported further positive progress in a trading update on Wednesday, ahead of its capital markets day to be held during the afternoon.

The AIM-traded firm said it had seen further strong progress in the delivery of its ‘GH25’ strategy during the nine months ended 30 September.

It said assets under management rose 15%, or £1bn, in the period to reach £7.5bn.

Full-year adjusted operating profit, meanwhile, was expected to remain in-line with market expectations for the 12 months ending 31 December.

“The structural growth in alternative asset management remains a positive long-term dynamic for our group, and it is also pleasing we are still seeing growth in assets under management in the current environment,” said chief executive officer Tony Dalwood.

At 1222 GMT, shares in Gresham House were down 0.58% at 740.7p.

Reporting by Josh White for Sharecast.com.