Shareholders accounting for almost half of the Gresham House Strategic (GHS) investment trust’s total share capital have called for an immediate return of cash and the realisation of its portfolio, following a controversial strategic review last month.
On 11 October, it was announced that the £466m trust decided to part ways with Gresham House Asset Management (GHAM) and instead appointed Harwood Capital as its investment manager, which would lead to the trust changing its name to Rockwood Strategic. Gresham House plc (GHE) called the review "inadequate", given only they had been offered liquidity to realise their full investment at NAV. Instead, the company argued that all shareholders should have been offered that option. GHS hit back one day later, saying the proposal was "not in the best interest of all shareholders" and that th...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
