Investing worldwide, we aim to achieve strong absolute returns within global, liquid credit markets regardless of wider fixed-income conditions.
Our global, multi-strategy, relative-value approach aims to generate risk-adjusted alpha.
Investing in long and short positions across a broad range of liquid securities.
Focussing on liquid bonds, credit default swaps and loans.
Not constrained by traditional corporate bond benchmarks, we can mitigate risk by investing across regions.
Our security selection driven by the same intensive, bottom-up analysis that underpins all of our credit strategies.
Skilled, integrated team whose principal members have worked together since 2004.
We apply the same global, relative-value approach to Absolute Return Credit that drives our high-yield and multi-strategy credit products. This strategy, however, is less concentrated, and through long and short positions we aim to provide a highly diversified and liquid portfolio that delivers consistent market-neutral returns.
We believe that global, relative-value investing throughout the capital structures of issuers can deliver strong returns through the cycle.
Through top-down analysis, we determine our risk appetite and the return prospects of different regions and sectors. These findings direct our disciplined, bottom-up research, in which we seek exposure to issuers with attractive credit risks and aim to determine which securities in their capital structures provide superior relative value.
Our global approach to Absolute Return Credit, in which we invest throughout the US, Europe and the emerging markets, provides us with access to an expansive set of opportunities and sources of liquidity.
Fraser Lundie, CFA
Co-Head of Credit and Senior Credit Portfolio Manager
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Andrey Kuznetsov
CFA, Senior Portfolio Manager
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Andrey joined Hermes in January 2013 and is co-portfolio manager on Hermes' range of credit strategies. He joined Hermes from C-Quadrat Asset Management, where he managed the multi-strategy credit fund and generated investment ideas for a range of absolute return credit funds. Andrey holds an undergraduate degree in Economics from State University – Higher School of Economics in Moscow, where he majored in Financial Engineering and Mandarin Chinese, and a graduate degree from London Business School. Prior to moving to London he worked in various roles in Russia and China. In 2019, Andrey was named in the Financial News’ ‘Top 25 Rising Stars under 40 in European Asset Management’ and has been selected to join the leadership team of Next Generation Fixed Income Portfolio Managers network, a CFA UK initiative to bring together the leading portfolio managers in the UK. Andrey is a native Russian speaker and CFA charterholder.
