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Hermes US All Cap

Home / Capabilities / Equities / Hermes US All Cap

Objective: aiming to provide long-term capital appreciation by investing primarily in equity or equity related securities of small, medium and / or large sized companies domiciled in the US, or which derive a large proportion of their income from US activities. These are primarily listed or traded in the US or Canada.

"A portfolio of quality businesses that have 'economic moats' - defensible franchises - that aim to deliver long-term outperformance."

Michael Russell

CFA Lead Portfolio Manager

michael-russell

Why Hermes US All Cap?

  • High quality: we define quality as companies which we believe possess a durable competitive advantage. Such companies often exhibit high market share, industry-leading margins and good cash-flow generation bought at a discount to intrinsic value.
    Flexibility: to continue holding great companies as they grow from mid cap into large cap.
  • Long-term investment: the average holding period is three to five years. This longer-term focus allows the team to take advantage of short-term swings in investor sentiment.
  • Stable returns: investments in high-quality businesses should help performance in down markets.

Investment approach

Hermes US All Cap invests in high-quality companies: those that we believe possess a durable competitive advantage. We value consistency and stable, growing revenues and cash flow. Over time, we believe that companies exhibiting these characteristics outperform – importantly, with less risk.

Risk management

The majority of risk in our portfolio comes from stock selection – the team’s core competency – and we regularly test for unintended factor risks. Hermes EOS provides us with proprietary data about environmental, social and governance risks that may influence the performance of companies.

Past performance is not a reliable indicator of future results and targets are not guaranteed.

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