Gresham House PLC (AIM:GHE) said it expects profit for 2022 will be at the top end of market expectations, with assets under management (AuM) swelling 20% over the past year.
Adjusted operating profit for the calendar year are expected to top £26.5mln, the specialist alternative asset manager said in a year-end statement, which would represent a profit increase of at least 31% on the previous year.
City analysts had pencilled in profit forecasts of between £25.3mln to £26.5mln.
AuM finished the year above £7.8bn, up from £6.5bn at the end of 2021.
Chief executive Tony Dalwood said it was “another year of robust performance”, with strong fund inflows across asset classes.
“In spite of highly challenging macroeconomic conditions, we have continued to make good strides against our long-term goals which is testament to the expertise and capabilities of the Gresham House team.”
Already in the new 2023 financial year, Gresham House has launched its Irish Strategic Forestry Fund, helped towards its €200mln target with a cornerstone investment by Ireland's sovereign development fund and the country’s net zero targets, while the Baronsmead Venture Trust PLC and Baronsmead Second Venture Trust PLC are making a "strong start" towards their £40mln fundraising target following the £76mln Mobeus VCTs fundraising at the end of last year.
Said Dalwood: “Our continued delivery of strong investment performance coupled with a core focus on sustainability will allow us to continue to provide successful investment solutions."