- Star fund manager Richard Staveley returns to lead Gresham House Strategic under new manager Harwood Capital
- Harwood offers to purchase Gresham House’s stake in GHS at net asset value, so producing a cash windfall
Aim-traded investment company Gresham House Strategic (GHS: 1,745p) has parted company with Gresham House Asset Management (GHAM) and will now be managed by Harwood Capital.
This follows the resignation of GHS’s lead fund manager Richard Staveley at the end of May, which then prompted a strategic review by the board. Staveley had been instrumental in the success of the fund with two-thirds of the investment portfolio made up of stocks acquired during his tenure. Over a five-year period, GHS has produced a 130 per cent total net asset value (NAV) return, and 94 per cent in the past three years, outperforming the UK Smaller Companies investment trust average by over 40 per cent in both periods.