- Gresham House posts a trading loss of £0.6m for the year to the end December - down from £1.5m in 2013.

The net asset value per share decreased in the year to 31 December to 298.0p from 378.5p at the end of 2013 and 331.7p at 30 June 2014.

Gresham House said the decrease in NAV was due to the net trading loss of £1,293,000, the revaluation deficit on investment property of £523,000 and the loss on investments held at fair value of £2,188,000. The NAV was also diluted by the issue of 3,973,510 new ordinary shares as part of the fund raising which completed in December 2014.

Chief executive Tony Dalwood said: "Gresham House is a quoted entity with a clear strategy for growth and alignment of management interests with shareholders. We have started the journey to evolve the Company, both organically and through acquisitions, into a specialist asset manager.

"There is a clear market opportunity to develop specialist and illiquid asset management strategies to address demand for long-term and superior investment returns. Gresham House has put together a highly capable team to succeed in this area and we look forward to reporting as we implement the strategy."

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