Gresham House Appointed Investment Manager to SEC, Gresham House PLC, 2020-05-15






RNS Number : 9876M
Gresham House PLC
15 May 2020
 

15 May 2020

Gresham House plc  

(“Gresham House” or the “Company” or the “Group”)  

Gresham House Appointed Investment Manager to SEC

Further to the announcement of 27 March 2020, Gresham House (AIM: GHE), the specialist alternative asset manager, is pleased to announced that Gresham House Asset Management Limited (“GHAM”) and Strategic Equity Capital plc (“SEC”) have entered into an investment management agreement whereby GHAM will become SEC’s new investment manager and alternative investment fund manager (“AIFM”). The appointment will be effective from 21 May 2020.

It remains the intention that Aberdeen Standard Gresham House Investment Management Limited (“Aberdeen Standard Gresham House”), the proposed joint venture between Gresham House and Aberdeen Standard Investments (acting through Aberdeen Asset Management PLC) (“ASI”), will assume the roles of investment manager and alternative investment fund manager upon receipt of regulatory approval and satisfaction of other conditions. Until then, GHAM will enter into a distribution and marketing agreement with the ASI Group to assist with the marketing and promotion of SEC. 

SEC’s current portfolio managers, Jeff Harris and Adam Khanbhai, will become employees of Gresham House which will now include a new investment committee, chaired by Tony Dalwood, and supported by the platform and network in Strategic Public Equity that Gresham House has developed with its 20-year track record in this area.

Further to the announcement of the key terms of the investment management agreement in the announcement of 27 March 2020, and in light of the fact that Jeff Harris and Adam Khanbhai will continue to be the SEC portfolio managers, the existing high watermark for the performance fee will be retained (rather than reset) and there will be no change to the performance fee calculation period.

 

Ends

 

For more information contact: 

 


Gresham House plc 

 

Tony Dalwood, Chief Executive Officer 

Kevin Acton, Chief Financial Officer 

 

 

 

+44 (0)20 3837 6270 

 

Houston – PR advisors  

 

Alexander Clelland 

Anushka Mathew 

 

 

[email protected] 

+44 (0)20 3701 7660 

 

Canaccord Genuity Limited – Nominated Adviser and Joint Broker 

 

Bobbie Hilliam 

Georgina McCooke 

 

 

+44 (0)20 7523 8000 

 

 

Jefferies International Limited – Joint Broker and Financial Adviser

 

Paul Nicholls 

Max Jones 

 

 

 

+44 (0)20 7029 8000 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 

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