Gresham House has sold its 23.7% stake in the former Gresham House Strategic trust, now called Rockwood Realisation, leaving the current investment manager Harwood as the largest shareholder.
With the shares changing hands, the board is now re-opening an ongoing debate about the fate of the trust, saying that Harwood has indicated a planned wind-down "does not operate in the best interests" of the shareholders and "should be reviewed". "The board will therefore be engaging with Harwood, in its capacity as both the company's investment manager and largest shareholder, to consider whether a change of investing policy is warranted," the stock exchange statement said. Gresham House Strategic's NAV overstated since 30 July Harwood now owns 28.9% of the trust's issued sha...
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
