Home / News / River and Mercantile founding partner resigns from Gresham House after less than two years
River and Mercantile founding partner resigns from Gresham House after less than two years
By Kristen McGachey, 25 May 21
Gresham House had been described as a ‘good home’ for Richard Staveley who joined from Majedie in September 2019
Gresham House portfolio manager and managing director Richard Staveley has resigned after less than two years at the fund boutique.
Staveley (pictured) has more than two decades of fund management experience, including five years at Majedie Asset Management and seven years at River and Mercantile, the Aim-listed manager he helped found in 2006.
Source: Trustnet
Gresham House Strategic has £57.4m in total assets, according to data from the Association of Investment Companies. It currently trades on a 6.4% discount, slightly better than the UK Smaller Companies average of 7.1%.
“The future growth of GHS is therefore limited due to the lack of availability of new funds for investment at a time when both several attractive investment opportunities exist, and GHS would be a benefit from taking larger stakes in some of its existing investments,” the board wrote.
The review will be conducted in conjunction with an independent financial adviser, which the board expects to appoint shortly, and is expected to be completed by the trust’s AGM in September.
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