Archives for 2016

View our older news stories from this year.

Shift back towards value-driven investment strategies from growth stocks

THE number of new listings on London’s junior market fell this year as companies abandoned flotation plans amid Brexit uncertainty and volatile market conditions.  In 2016, 38 companies raised an average of £30m on Aim, with 90pc of listings taking place before June’s EU referendum. This compares to 61 admissions last year and a peak...

Thorough research, high conviction and active engagement

Gresham House Strategic Plc (LON:GHS) Managing Director Graham Bird talks to DirectorsTalk about how it is different to other smaller, company fund managers. How they research and actively engage with companies. IMIMobile plc and why the large weighting. An update on Northbridge, Miton, Be Heard and Space and People and also how they will they...

Citywire: Why GHS bought miton after shock double exit.

(Correction: Gresham House’s NAV is up 4% over 12 months) Gresham House Strategic (GHS) saw an investment opportunity in Miton after its shares plunged following the exit of two star managers. Shares in Miton dropped almost 30% in one day in April after Citywire AAA-rated George Godber and Georgina Hamilton quit the business to join Polar...

UK dividends drop as profits come under pressure

Profit growth remains under pressure in the UK, limiting the potential for companies to increase dividends. Moreover, since the UK’s decision to leave the EU at the end of June, the pound has fallen further on the foreign exchange markets, extending a descent that began in the months running up to the referendum. ‘For UK-based...

Bargain shares portfolio half-year report

It’s not often that you can buy shares in a cash-rich investment company trading 22 per cent below book value, and with the company’s largest holding riding a high, but that’s the case with Aim-traded investment company Gresham House Strategic (GHS:840p). Investors Chronicle | 15.08.16

Small-cap value buys

Last week I highlighted a glaring valuation anomaly in the Aim-traded shares of Crystal Amber (CRS:160p), an activist investment company and a constituent of my 2015 Bargain shares portfolio (‘Amber alert’, 4 Aug 2016). The same is true of the Aim-traded shares of Gresham House Strategic(GHS:780p), an investment company focused on using strategic public equity...

A cheap investment company that catches the eye

Gresham House Strategic is another ‘cheap’ investment trust that catches the eye. A minnow with a market cap of just £28 million, the Alternative Investment Market-listed company was born out of technology company Spark Ventures last year. With Gresham House Strategic, fund managers Tony Dalwood and Graham Bird are targeting small UK companies, using a...

Exploiting a price anomoly

It’s not often you get the opportunity to buy shares in a company 25 per cent below the current market price and on the verge of a major chart break-out. However, I have found a way of doing just that. The company concerned is Aim-traded technology company IMImobile (IMO:170p), a business that helps companies engage...

Stock market has stability of the graveyard

The amount of new capital raised by conventional means on the stock exchange is depressingly low. The only people happy with the current system are the algorithmic traders who have worked out how to make money from running without falling foul of the law and going to jail. For those who believe that a vibrant...

Gresham House anomalously priced

Investors are being overly harsh in their valuation of Gresham House Strategic (GHS:760p), an Aim-traded investment company. In the first quarter to end March 2016 the company’s net asset value edged up by one per cent to £36.8m, or 998p a share, a solid performance in light of the difficult market conditions. Net funds accounted...