Gresham House has its sights on growing its UK small-cap investment trust, Gresham House Strategic (GHS), to become "a go-to place for value" after stellar performance saw its discount narrow significantly through 2019.
GHS saw share price total returns of 60% in 2019, as the investment trust and its peers were buoyed by the Conservatives' decisive General Election victory. As a result, GHS's discount narrowed from around 30% in January 2019 to 6% as at 31 January 2020. The Top Down: Gresham's Wotton on 'potential banana skins' for UK firms Richard Staveley, who joined Gresham as managing director for strategic public equity in September from Majedie Asset Management, said the firm's long-term plan was to grow the £48m trust should it move to a premium. "It is a problem that is quite some time ...
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