Gresham House

“Significant effort and investment are required to bridge the digital divide and ensure equitable access to high-speed connectivity” 💬💻 Stevie Ingamells, Associate Director, Sustainable Infrastructure, discusses why alternative network providers (alt-nets) are essential for the UK’s fibre rollout to bridge the #digital divide in her article for Data Centre Dynamics. The UK has the highest level of fixed data consumption across Europe, at almost double the European average but is among the lowest for fibre adoption. Project Gigabit, the UK Government’s subsidy scheme, which provides a one-off grant to selected operators building fibre networks in rural locations that have endured underinvestment, aims to rectify this by achieving 100% gigabit-capable coverage across the UK by 2030. Stevie highlights Wildanet and GoFibre, two Gresham House-backed alt-nets bridging the digital divide by providing life-changing #connectivity to underserved communities. Collectively, they have won five Project Gigabit contracts, cementing their positions as the dominant alt-nets in their respective regions, driving economic growth and bolstering digital innovation for the future. https://lnkd.in/eqYKaaXd #sustainableinfrastructure #fibrenetworks

“We are convinced numerous British companies, especially within the agile small and mid-sized space, can co-exist and eventually thrive as the utilisation of AI accelerates.” 💬🤖   Ken Wotton, Fund Manager, WS Gresham House UK Smaller Companies Fund, talks to This Is Money's Harvey D. on the positive outlook for UK firms embracing the AI revolution. Ken highlights Windward, a maritime software company and Netcall, an appointment data monitoring business, as good examples of smaller companies using #AI in a way that best suits their processes. He also notes the important position investors have as the use of AI accelerates, commenting: “They play a crucial role in the phase, guiding corporate boards to deeply understand AI’s capabilities and integrate this #innovation to gain competitive advantages and boost productivity.” https://lnkd.in/eH5ZaT6Y #smallcap #ukequities | Capital at risk. Not an investment recommendation. Opinions are the fund managers own and not necessarily those of Gresham House. 

"Battery firms are often used only in extremis, even though the power they produce is cheaper and greener than gas" 🔋 Gresham House Energy Storage Fund plc (GRID), managed by Ben Guest, has been highlighted by This Is Money as a fund poised to profit from the new Government’s drive towards renewable energy, aiming to cut bills, create jobs and make the UK less reliant on other countries for power. Batteries are designed to store excess energy and release it when there are shortfalls in supply, a cheaper and more sustainable option than gas alternatives. The Fund's recent landmark tolling agreement with Octopus Energy, allowing the energy supplier to use around half of GRID’s portfolio batteries for storing its energy, further supports the role #batterystorage will play as the UK phases out fossil fuels, supporting the broader #energytransisiton. https://lnkd.in/eZZtTmXm James Bustin Harry Hutchinson #renewableenergy | Capital at risk. Not an investment recommendation. 

The UK’s fastest business internet provider 🛜🖥️ Telcom, a portfolio company backed by our Sustainable Infrastructure team, was recently named as the UK’s fastest business internet provider by Broadband Genie, with average download speeds of 319Mbps and upload speeds of 357Mbps. Their business fibre network delivers hyperfast #connectivity to companies with a range of products to cover all use cases. Benefits to businesses include: 🏢 Uncontended equal upload and download speeds of up to 110Gbps, on a network exclusively for business users 🔧 Connection to a reliable, purpose-built business fibre and wireless network 👷♂️ A network maintained 24/7 by a team of 120 engineers build who can connect new customers in as little as 20 days Read more about the ranking here: https://lnkd.in/dtCiJNiB #infrastructure

“Sainsbury’s has some compelling self-help levers to pull” 🛒💬 Brendan Gulston, Co-Fund Manager of WS Gresham House Multi Cap Income Fund, comments on the fund’s addition of the UK supermarket chain Sainsbury's to its portfolio in an article for Trustnet. Despite the fierce competitive landscape for retailers in the past, the industry backdrop has evolved over the past decade, as aggressive store rollouts have been curtailed and the price wars of the past have ceased. Brendan highlights Sainsbury’s competitive advantages including scale, data and insights as well as the plethora of opportunities for the brand to generate profit and make savings. This includes looking at end-to-end costs including how procurement decisions affect store labour, which has already delivered £1bn in savings, and co-locating Argos pick-up spots in-store providing an opportunity for cross-selling to the 50% of households who shop there. https://lnkd.in/eSBvwAfP Ken Wotton #publicequity #ukequities | Capital at risk. Not an investment recommendation. 

“Trees don’t stop growing simply because the economy shrinks or interest rates are raised or if the world is hit by fresh political shocks.'💬🌳   Oliver Hughes, Managing Director, Forestry, discusses the trajectory of the #forestry market with patrick hosking, Financial Editor, The Times, on a visit to one of the forests we manage in Dumfries, Scotland. Forestry as an asset class has become more attractive to investors over recent years given its alluring returns and the diversification benefits it provides to portfolios. It is supported by long-term global trends including the transition to #netzero and a shortage of housing stock which has led to a soaring long-term demand for construction quality #timber, as developers switch from from carbon-intensive materials such as concrete and steel to more sustainable materials including wood. https://lnkd.in/etEjAPJ7 Capital at risk. Not an investment recommendation.

“Trustpilot has limited direct competition, a compelling value proposition and is a trusted brand”💬📈 Ken Wotton, Fund Manager, WS Gresham House UK Smaller Companies Fund, highlights customer review website Trustpilot as a FTSE 100 star of the future in an article for Portfolio Adviser. Shares in the company currently trade at a steep discount compared with other global markets, like many small-cap companies listed in the UK, but it could skyrocket into the FTSE 100 once its price catches up to its real value. Ken commented: “If Trustpilot can deliver the growth and partially close its rating discount to US-listed software peers, that would be sufficient to pilot itself into the top tier of the UK equity markets.” https://lnkd.in/gSjm2vF4 #smallcap #ukequities | Capital at risk. Not an investment recommendation. Opinions are the fund manager's own and not necessarily those of Gresham House. 

“To fully realise the potential of natural capital, government mandates, rather than voluntary efforts, are essential” 💬🦋🌳 Rebecca Craddock-Taylor, Director, Sustainable Investment, writes on the disconnect between nature’s true value and the economic value currently placed on it for an article in IPE Real Assets. Only a small fraction of markets are currently designed to achieve nature positive outcomes, despite investors becoming increasingly aware of the value of nature, and the possible ecological and financial risk posed by not allocating to it. The implementation of mandatory frameworks and regulations in the UK, such as the Task Force on Climate-related Financial Disclosures (TCFD) and the introduction of Biodiversity Net Gain (BNG) through the Environment Act, are notable examples of regulation that puts nature’s prosperity at its core. However, Rebecca argues that more progress is needed, commenting: “We stand at a crucial juncture where decisive action is needed to protect the health of the planet and the wellbeing of future generations. https://lnkd.in/g7BzKAVE (article behind paywall) #biodiversity #naturalcapital #infrastructure

Award win 🏆 We are delighted to have won the Best Fund Group - UK Equity Income at the Citywire UK Portfolio Manager & Group Awards 2024. The awards recognise groups whose funds are available for sale in the UK and have produced stellar outperformance in recent years. Congratulations to the team! https://lnkd.in/eW-PAf4t Ken Wotton Brendan Gulston Cassie Herlihy David Bickerstaffe George Karidis Past performance is not necessarily a guide to future performance. Capital at risk.

“Lower inflation and lower rates could lead to a material earnings outperformance for businesses with strong operational leverage.” 💬 Fund Manager, Brendan Gulston comments on the benefits the UK wealth management sector could gain from a falling interest rate environment, in an article by MoneyWeek. The recent #interestrate cuts introduced by The Bank of England brought the base rate down to 5%. Lower rates could support “a positive flow dynamic” to the sector, which is a growing market currently and where many companies are trading at significant #valuation discounts. https://lnkd.in/eXTuUrUc #ukequities | Capital at risk.