By combining unconstrained credit, high-conviction credit selection with a hedge against adverse market conditions, we aim to maximise long-term total returns.
Unconstrained, high-conviction investment across the global liquid credit spectrum.
Capturing superior relative value throughout credit markets as investment conditions change.
Outsource credit-allocation decisions to a team of skilled, experienced global credit investors operating within a robust governance framework.
Alpha generation through issuer and security selection: sourcing high-conviction, bottom-up ideas globally and throughout corporate capital structures.
Optimal convexity through an options overlay: aiming to protect return-seeking investments from perceived market and macro risks.
ESG integration and engagement ensures responsibility is embedded in every investment decision.
Top-down oversight
Bottom-up skill
Downside defence
Full spectrumThere is plenty of evidence showing that poor environmental, social, and governance (ESG) behaviours can lead to the erosion of a firm’s enterprise value. This has implications for both equity and credit investors. As a result, our investment analysis has historically considered ESG risks alongside more traditional operating and financial risks. However, until now it has been challenging to price ESG risks in a similar way to these core credit risks. In order to analyse ESG risks with greater precision, we have developed a pricing model to capture the influence of these factors on credit instruments. Read more here.
Fraser Lundie
CFA, Head of Hermes Credit and Lead Portfolio Manager
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Fraser Lundie
CFA, Head of Hermes Credit and Lead Portfolio Manager
Fraser joined Hermes in February 2010 and is Head of Credit and lead manager on the Hermes range of credit strategies. Prior to this he was at Fortis Investments, where he was responsible for European high yield credit. Fraser graduated from the University of Aberdeen with an MA (Hons) in Economics; he earned an MSc in Investment Analysis from the University of Stirling and is a CFA charterholder. In 2017, Fraser joined the board of CFA UK, a member society of the CFA Institute. Having previously featured in Financial News’s ‘40 Under 40 Rising Stars of Asset Management’, an editorial selection of the brightest up-and-coming men and women in the industry, in 2015 Fraser was named as one of the top 10 star fund managers of tomorrow by the Daily Telegraph. In 2016, Citywire Americas named Fraser number one in their global high yield manager review, and InvestmentEurope and Investment Week both named the Hermes Multi Strategy Credit Fund top global bond fund at their respective 2017 Fund Manager of the Year Awards.
Andrew Jackson
Head of Fixed Income and Lead Portfolio Manager
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Andrew Jackson
Head of Fixed Income and Lead Portfolio Manager
Andrew joined Hermes in April 2017 as Head of Fixed Income. He is responsible for leading the strategic development of Hermes’ credit and direct lending investment teams, and developing a multi-asset credit offering capable of accessing all areas of the global credit markets for pension funds and other long-term institutional investors.
Andrew joined from Cairn Capital, where he was Chief Investment Officer. In this role, Andrew was responsible for the development of the asset management business, which included designing new products and managing the investment teams, including strategy, portfolio management and research. He has managed assets across the spectrum of global credit and fixed income. He was previously vice president within the European credit structuring team at Bank of America and has held roles with Fitch Ratings and PricewaterhouseCoopers. Andrew holds a BSc degree in Mathematics & Theoretical Physics from Kings College London.
