(Alliance News) - Asset manager Gresham House PLC said Monday its second half trading was in line with internal expectations.
Gresham House said it ended 2019 with at least GBP2.75 billion in assets under management. At June 30, Gresham House's assets under management stood at GBP2.45 billion. Assets under management at the end of 2018 were GBP2.27 billion.
"Despite a volatile wider market background, organic growth in sustainable funds and investment performance within our equity funds products has been pleasing, with AuM increasing by over 20%," Gresham House said.
The asset manager also noted it financial performance was in line with market expectations.
Gresham added: "The year has seen the successful integration of the FIM and Livingbridge acquisitions of 2018. Both are performing in line with our plans since the completion of the integration, consistent with our strategy of making selected acquisitions which subsequently contribute to ongoing organic growth."
Chief Executive Tony Dalwood said: "We have continued to deliver against our strategic priorities; growing organically, integrating acquisitions, and using our balance sheet effectively to develop the business and align with the interests of our clients."
Dalwood believes the company is well positioned to benefit from its sustainable investments, giving him confidence for 2020.
Gresham House is expected to publish its 2019 full year results on March 5.
Shares in Gresham House were 0.2% lower in London on Monday morning at 648.55 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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