Gresham House sells stake in former trust as board reviews wind-down

Former Gresham House Strategic trust

Kathleen Gallagher
clock • 1 min read
The £38.8m trust has been the subject of ongoing disagreements between the board and Gresham House, who was the asset manager at the time.
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The £38.8m trust has been the subject of ongoing disagreements between the board and Gresham House, who was the asset manager at the time.

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...

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