Over the six months to 30 June 2020, Gresham House saw its assets under management (AUM) grow by £467m (17%), of which £283m was organic growth, to a total AUM of £3.3bn, a figure “at least in line with market expectations”.
The firm's real assets business contributed the majority of the growth, adding £360m through net flows, performance and funds acquired, with the infrastructure and housing business growing 128.5%, although only forestry saw positive performance across the firm, adding £72m.
Strategic equity added a net £108m, hampered by poor performance in both public and private equity, with the latter reporting negative growth of 17% due to both performance and the termination of the LMS Capital contract.
The company has shifted to "business as usual" over the pandemic, with employees able to work from home and no member of staff furloughed, while the firm's balance sheet is debt-free with cash of £22m.
Tony Dalwood, CEO, said: "We are pleased with the performance in the first half of the year against an unprecedented backdrop and expect to remain at least in line with market expectations on the current trajectory for 2020.
"Our natural focus on ESG principles together with strong market positions, investment performance and balance sheet continue to support growth as we fundraise to meet client demand across our sustainable and open-ended investment strategies.
"The performance of Gresham House in the first half of the year has been testament to the resilience and quality of the team, working in challenging conditions, and we look forward to building on this in the second half of 2020 and beyond."