Gresham House Energy Storage sees NAV jump over 53% in H1

Share price total return of 23.3%

clock • 2 min read

The Gresham House Energy Storage fund (GRID) has seen its net asset value jump by 53.5% in the first half of the year to £785.4m, delivering a NAV total return of 27.2%.

According to the fund's interim results to the end of June 2022, the trust's share price returned 23.3% over the period, while the FTSE All Share index lost 4.6%. Since IPO in November 2018, returns have been 86.9% and 15.8%, respectively. A new prospectus was published in May 2022 with an initial equity raise of £150m, which was oversubscribed. Chair John Leggate said that he expects these funds, alongside debt facilities, to deliver most of the existing pipeline, taking GRID to over 1GW of capacity, currently expected by the end of Q1 2023.  Gresham House reports Q1 2022 fundraises ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Trustpilot