Ground Rents Income Fund PLC Alternative Investment Fund Manager team changes (1212O)
06 October 2021 - 05:00PM
UK Regulatory
TIDMGRIO
RNS Number : 1212O
Ground Rents Income Fund PLC
06 October 2021
Ground Rents Income Fund plc ("GRIO" or "the Company")
Alternative Investment Fund Manager ("AIFM") team changes
The Company announces that James Agar, fund manager for the
Ground Rents Income Fund since its IPO in 2012, has stepped down
from his role at Schroder Real Estate ("Schroders").
Schroders was appointed as Alternative Investment Fund Manager
to the Company in May 2019 with the aim of supporting the Board in
dealing with the headwinds facing the sector as well complex legacy
issues such as the Beetham Tower litigation. Schroders' appointment
included hiring a team of seven people based in Manchester from the
previous manager, Brooks Macdonald, which included James Agar and
Chris Leek, Deputy Fund Manager.
Following James's departure, Chris Leek assumes day to day
responsibility for the GRIO portfolio, reporting to Nick
Montgomery, Head of UK Real Estate. Chris will continue to be based
in Manchester with the core GRIO team and new hires that are being
made by Schroders in its Manchester office. The Board and
shareholders continue to benefit from Schroders' wider specialist
investment, legal, governance and risk management teams that are
supporting the delivery of the strategy, including the recent
Beetham Tower disposal.
The Board remains supportive of the Schroders team and its
ability to execute the strategy set out in the interim results,
which is focussed on delivering improved returns for shareholders
in advance of the Company's continuation vote, which is to take
place no later than August 2023.
Enquiries:
Schroder Real Estate Investment Management Limited
Nick Montgomery / Matthew Riley / James Lowe / Chris Leek
020 7658 6000
Singer Capital Markets (Broker)
James Maxwell / Kailey Aliyar (Investment Banking)
Sam Greatrex (Sales)
020 7496 3000
Appleby Securities (Channel Islands) Limited (Sponsor)
Andrew Weaver / Chris Smedley
01534 888 777
FTI Consulting
Dido Laurimore / Richard Gotla
0203 727 1000
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END
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