Gresham House Strategic Significantly Outperforms FTSE Small Cap

LONDON (Alliance News) - Gresham House Strategic PLC, an independent investment company managed by Gresham House PLC, said Thursday it was "one of the top-performing UK small-cap funds" in the year ended March 31.

In the year to March 31, Gresham House Strategic's net asset value total return was 8.0%, resulting in a NAV per share of 1,253.9 pence, compared to the FTSE Small Cap Index losing 3.1%.

The investment company's NAV per share at the end of financial 2018 stood at 1,186.20p.

Gresham House Strategic said the "strong" performance was driven by its investments in Augean PLC, Tax Systems PLC, IMImobile PLC and Northbridge Industrial Services PLC.

The investment company made realisations of GBP18.8 million in the period.

Gresham House Strategic said it had "a number of recovery plans underway or being prepared" for its underperforming investments.

Gresham House holds a 22% interest in Gresham House Strategic.

Shares in Gresham House Strategic were up 2.3% Thursday at 1,010.00 pence each. Gresham House shares were up 0.5% at 512.40p.