Strategic Equity Capital plc (SEC) has appointed Gresham House Asset Management (GHAM) to replace GVQ Investment Management as its new investment manager.
GHAM will take over the running of the trust with immediate effect, before Aberdeen Standard Gresham House takes over once GHAM's joint venture with Aberdeen Standard Investments receives regulatory approval, the board of the £100m SEC said. The move comes following a strategic review initiated at the end of last year in a bid to attract new investors and narrow its "persistent double-digit discount". The board noted at the end of January 2020, the trust's 12-month discount was 15.5%, more than twice that of its average UK smaller companies peer. Gresham House Strategic's Staveley ...
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