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ASIA EX-JAPAN EQUITY

Aiming to achieve long term capital appreciation by investing in stocks located in or deriving substantial revenue or earnings from Asia, excluding Japan.

We seek an asymmetric return profile, and pay particular attention to the risk of downside in absolute terms.

Jonathan Pines

Portfolio Manager

Asymmetry

We seek to invest in stocks that will make more if we are proven right than will lose if we are proven wrong.

Price sensitive

We emphasize price because we believe that the price we pay for a stock relative to its quality is perhaps the most important determinant of subsequent return.

Contrarian

We are attracted to stocks that are temporarily out of favour and most stocks we buy have underperformed the market before we buy them.

Track record

We have a strong since-inception performance track record, but have a portfolio that looks very different to those of our peers.

Investment approach

We have a bottom up, contrarian investment approach with a value bias, often seeking to buy stocks that are temporarily out of favour. We seek a deep understanding of financial statement elements, also paying particular attention to factors that might indicate an elevated risk of fraud .

Team

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Related Insights

Federated Hermes Asia ex Japan: Letter to investors, March 2021
After a testing decade for contrarian, value-biased investors, there are hints of change as expectations of an end to extraordinarily cheap money have caused price movements. Could a long-awaited enduring rotation be in the offing? Here Jonathan Pines, Portfolio Manager of our Asia ex Japan Strategy, presents his views.
The Meeting Room Webcast: Asia ex-Japan, February 2021
Join Jonathan Pines and Sandy Pei for the Federated Hermes Meeting Room: Virtual Portfolio Briefing on Asia ex-Japan
The Meeting Room Webcast: Asia ex-Japan, November 2020
Listen to the latest Federated Hermes Meeting Room: Virtual Portfolio Briefing on Asia ex-Japan
Asia ex-Japan Strategy Update: June 2020
Jonathan Pines, Lead Manager, gives an update on the Hermes Asia ex-Japan Strategy in June 2020.

Sales Contacts

Antonis Maggoutas,
Head of Germany & Austria Distribution
Frank Poepplow,
Director - Distribution, Germany & Austria