Gresham House plc is an authorized investment trust. The Company�s investment objective is to realize its assets over a period of approximately two years with a view to returning capital to shareholders thereafter. The Company invests in both commercial properties and securities. Investment in securities has been primarily by way of investing in corporate bonds with a minimum rating of B+ to provide income; investing in a portfolio of predominately United Kingdom equities to provide both income and capital growth, and acquiring equity stakes in fledgling unquoted companies with a view to contributing to their development. As of December 31, 2011, the Company�s securities portfolio included Property investment, financial, media & photography, engineering, utilities, foods and electrical.