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Hermes Investment Symposium 2018

Wednesday 7th March 2018, 12:15 - 17:00

Rosewood London Hotel, 252 High Holborn, London, WC1V 7EN

Home / Hermes Investment Symposium 2018

On the 7th March 2018 Hermes held its second Investment Symposium at the Rosewood Hotel.  At the event our investment experts provided fund updates, valuable insights into their respective markets and a taster of new strategies.

Please find below copies of all the presentations from the event.

Presentations from the event

The why question: Rethinking the purpose of investment and how to measure success
Saker Nusseibeh, Chief Executive Officer

Emerging Markets: From imitators to innovators
Gary Greenberg, CFA, Head of Emerging Markets

Size and momentum: Key factors driving returns in Asia
Jonathan Pines, Portfolio Manager

Where is the value in the US market?
Mark Sherlock, CFA, FCA, Head of US Equities
Henry Biddle, CFA, ACA, Portfolio Manager

Unconstrained Credit
Andrew Jackson, Head of Fixed Income
Fraser Lundie, Co-Head and Lead Credit Portfolio Manager

Opportunity knocks in Europe
Martin Todd, CFA, Director, European Equities

Impact investing: Investing in companies with a purpose to achieve market-beating returns?
Andrew Parry, Head of Sustainable Investing, Equities Management

Photos from the event

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Agenda

 Time  Session Speakers  Session
12.15-13.15 Registration and buffet lunch Hermes and delegates Hot and cold buffet lunch
13.15-13.30 Welcome Harriet Steel and Clive Selman  
13.30-13.45 Opening session Saker Nusseibeh The why question - Rethinking the purpose of investment and how to measure success
13.45-14.25 Guest speaker Tim Marshall Geopolitics in an age of uncertainty
14.25-14.30 Comfort break    
14.30-15:00 Workshop 1 Gary Greenberg  Hermes Global Emerging Markets
  Workshop 2 Jonathan Pines  Hermes Asia ex Japan
  Workshop 3 Mark Sherlock/Henry Biddle  Hermes US Equities
  Workshop 4 Andrew Jackson, Fraser Lundie  Hermes Fixed Income
       
15:00-15:30 Panel discussion Eoin Murray (Moderator)
Andrew Parry - Hermes, Bruce Duguid - Hermes EOS, Louise Dudley - Hermes, Geof Stapledon - BHP Billiton
From fad to mainstream - the evolution of ESG
15:30-15:45 Refreshments    
15:45-16:15 Workshop 1 Gary Greenberg  Hermes Global Emerging Markets
  Workshop 2 Andrew Jackson/Fraser Lundie  Hermes Credit
  Workshop 3 Martin Todd  Hermes Europe ex UK
       
16:15-16:45 Workshop 1 Jonathan Pines  Hermes Asia ex Japan
  Workshop 2 Mark Sherlock/Henry Biddle  Hermes US Equities
  Workshop 3 Andrew Parry  Hermes Impact Opportunities
  Workshop 4 Martin Todd  Hermes Europe ex UK
16.45-17:00 Closing remarks Clive Selman  
17:00 - onwards Networking drinks    

Speakers

Saker is Chief Executive of Hermes, chair of its Executive Committee and an Executive Board Director. Saker was appointed CEO in May 2012, having been acting CEO since November 2011. Saker joined the firm in June 2009 as Head of Investment and Executive Board Director. He is responsible for leading the firm’s growth strategy and ensuring that Hermes continues to deliver excellent long-term investment performance, responsibly. Under his leadership, Hermes has achieved outstanding year-on-year growth in sales, revenues and profitability, while contributing widely to the debate about how to improve the contribution of financial services to society. Critically, long-term investment performance has remained at outstanding levels during his tenure.

Harriet is Head of Business Development, a member of the Executive Committee (ExCo) and an Executive Board Director. She joined the firm in 2011 with responsibility for Sales, Client Service, Marketing, Communications and Product Strategy. Under her leadership, Hermes has built a fast-growing and profitable third-party business in which assets under management for external clients have tripled, and revenues grown from 15% to 52% of the total. As a member of ExCo, her responsibilities include development of corporate strategy and delivery of profitability. Appointed to the Board of Hermes in 2013, Harriet became the company’s first female executive director.

Tim Marshall was Diplomatic Editor and foreign correspondent for Sky News. After thirty years’ experience in news reporting and presenting, he left full time news journalism to concentrate on writing and analysis. He has written for many of the national newspapers including the Times, the Guardian, the Daily Telegraph, and the Sunday Times.

Tim’s first book, Shadowplay: The Overthrow of Slobodan Milosevic, was a bestseller in former Yugoslavia and continues to be one of the most highly regarded accounts of that period. A second book, “Dirty Northern B*st*rds!” and Other Tales from the Terraces: The Story of Britain’s Football Chants was published in 2014, to widespread acclaim. His third book is ‘Prisoners of Geography’ and has been published in the UK, USA, Germany, Japan, Turkey, and Taiwan. His latest book is ‘Worth Dying For. The Power and Politics of Flags’.  The paperback, and a US version of this are due out in the spring of this year.

Gary Greenberg joined Hermes in September 2010 in the Emerging Markets team. Previous to this, he was Managing Partner at Silkstone Capital and Muse Capital, both London-based hedge funds he co-founded and managed in 2007 and 2002, respectively. From 1999 through 2002 he was Executive Director at Goldman Sachs in New York and London, where he co-headed the Emerging Markets product for GSAM, and served on the global asset allocation and European stock selection committees. From 1998 to 1999 he was Managing Director at Van Eck Global in Hong Kong and New York, where he was the lead portfolio manager for International Equities and ran the Hong Kong Office. From 1994 through 1998 Gary was Chief Investment Officer at Peregrine Asset Management in Hong Kong, managing and supervising global and regional equity, plus fixed income funds. In the early years of his career he was a Principal of Wanger Asset Management in Chicago, where he co-founded and co-managed the Acorn International Fund, which grew to $1.4 billion under his tenure. Gary holds an MBA from Thunderbird School, a BA from Carleton College and is a CFA charterholder. In 2017 Hermes Global Emerging Markets was named best emerging markets fund for the second year in a row at the Fund Manager of the Year Awards and best emerging markets group by Citywire Deutschland, and Gary was named best manager for emerging markets equity by Citywire UK.

Andrew Parry is Head of Sustainable Investing and a member of the Hermes Strategy Group. He joined the firm in 2009, initially as Chief Executive and Co-Head of Investment for Hermes Sourcecap, now Hermes European Equities, becoming Head of Equities in 2014. In 2006, Andrew jointly founded Sourcecap with the aim of building a best-in-class investment boutique focused on excellence in European equity management. Prior to this, Andrew established Pembroke Capital Management in 2003 and successfully launched the Magenta Fund, a global equity non-directional fund. Before that, Andrew worked at Northern Trust Global Investments (Europe) Ltd as Chief Investment Officer of International Equities and was responsible for the management of global, international and regional portfolios. He has also held a variety of senior investment roles, including Head of International Equities at Julius Baer Investments, Chief Investment Officer at Lazard Brothers Asset Management, and Head of UK Equities at Baring Asset Management. Andrew holds an MA in Mathematics from the University of St Andrews. Andrew is a member of the Investment Committee of the Trafalgar House Pension Trust and a non-equity director of Aerion Fund Managers. He was formerly an independent investment advisor to the Investment Sub-Committee of the Mineworkers’ Pension Scheme.

Martin Todd joined Hermes as a senior analyst on the European Equities team in March 2013 and now is co-portfolio manager of the Hermes European Alpha Fund. Prior to this he was an investment director at Scottish Widows Investment Partnership. Martin joined SWIP as a graduate covering US equities before spending two years covering the Japanese equity market. In 2007 he joined the UK equity team and was an analyst and fund manager within a team managing more than £20bn in AUM. Between 2008 and 2012, Martin was a portfolio manager on four offshore funds and from 2010 co-managed £4.5bn in low-risk funds. In addition, he was lead sector analyst on travel and leisure, media and personal goods. Martin graduated from The University of St Andrews with an MA in Economics & Modern History and is a CFA charterholder. In 2015, Martin featured in Financial News’s ‘40 Under 40 Rising Stars of Asset Management’, an editorial selection pick of the brightest up-and-coming men and women in the industry.

Jonathan Pines joined Hermes in March 2009 as Portfolio Manager responsible for Asia ex Japan within the Emerging Markets strategy; Hermes launched the Asia ex Japan strategy at the start of 2010 appointing Jonathan as lead Portfolio Manager. Prior to joining Hermes he was a fund manager at RAB Capital and an analyst at Orbis Investment Advisory in London. Jonathan grew up in South Africa, where he was a partner at PKF Johannesburg, Chief Investment Officer of Akul Capital (South Africa), and non-executive director of several listed and private South African companies. He holds an MBA from Harvard Business School, is a CFA charterholder and is a chartered accountant. Jonathan won Asian Investor’s Asset Management Award for best Asia ex Japan equity strategy in 2014, 2015, and 2016, Citywire Asia’s Asia ex Japan Group Award in 2016, and Investment Week’s 2016 Fund Manager of the Year Award for Asian equity.

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, European Credit Structuring at Bank of America, and has held roles with Fitch Ratings and PricewaterhouseCoopers.

Andrew holds a BSc degree in Mathematics & Theoretical Physics from King's College London.

Fraser joined Hermes in February 2010 and is lead manager on the Hermes range of Credit strategies and co-head of credit. Prior to this he was at Fortis Investments, where he responsible for Euro High Yield.  Fraser graduated from the University of Aberdeen with an MA (Hons) in Economics and earned an MSc in Investment Analysis from the University of Stirling. He is a CFA® charterholder and member of the Association for Investment Management and Research (AIMR), having gained the UKSIP Level 3 Certificate in Investment Management (IMC). In 2013, Fraser featured  in Financial News’s ‘40 Under 40 Rising Stars of Asset Management’, an editorial selection pick of the brightest up-and-coming men and women in the industry, and in January 2015, Fraser was named as one of the top 10 star fund managers of tomorrow by The Daily Telegraph.

Mark joined the Hermes US SMID team in February 2009 as co-manager of the Hermes US SMID Cap strategy and became lead manager in October 2013. He became co-manager of the US All Cap strategy in May 2015. Mark initially joined Hermes in 2005 as an analyst and fund manager on the UK Focus Fund. Prior to this, he was an investment analyst at Rio Tinto Pension Fund, where he had responsibility for the small and mid cap portion of the portfolio. Mark qualified as a Chartered Accountant with PricewaterhouseCoopers in 2002. He has a degree in Politics from Durham University, is a CFA charterholder and a Fellow of ICAEW.

Henry joined Hermes in March 2012 as investment analyst for the US SMID Cap strategy from UK brokerage firm Peel Hunt, where he was a diversified financials analyst from December 2010 until February 2012. Prior to that he worked at Deloitte in the Banking and Capital Markets Group and in Corporate Finance from October 2006 until November 2010. Henry has an MA in Classics from Trinity College, Oxford, is a qualified Chartered Accountant and a CFA charterholder.

Panelists

Eoin is Head of Investment and a member of Hermes’ Executive Committee. Eoin also leads the Investment Office, which is responsible to clients for the investment teams’ consistent delivery of responsible, risk-adjusted performance and adherence to the processes which earned them their ‘kitemarks’.

Eoin joined Hermes in January 2015 with over 20 years’ investment experience. Eoin joined from GSA Capital Partners, where he was a fund manager. Before this, he was Chief Investment Officer at Old Mutual from 2004 to 2008 and held senior positions at Callanish Capital Partners LLP and Northern Trust Global Investments. He began his career as a graduate trainee at Manufacturers Hanover Trust (now JPMorgan Chase) and subsequently performed senior portfolio manager roles at Wells Fargo Nikko Investment Advisors (now BlackRock), PanAgora Asset Management and First Quadrant. Eoin earned an MA (Hons) in Economics and Law from the University of Edinburgh and an MBA from Warwick Business School.

Eoin is a Freeman of the City of London, a Liveryman of the Worshipful Company of Blacksmiths, and a committee member of the Guild of Investment Managers.  He is a member of the Exmoor Search and Rescue team, a fully qualified Swift-water Rescue Technician and a Flood Water Incident Manager. 

Andrew Parry is Head of Sustainable Investing and a member of the Hermes Strategy Group. He joined the firm in 2009, initially as Chief Executive and Co-Head of Investment for Hermes Sourcecap, now Hermes European Equities, becoming Head of Equities in 2014 and taking on responsibility for developing Impact investing in August of 2016. In September of 2017 he became Head of Sustainable Investing to reflect the commitment of Hermes to building on their success in Responsible Investing.

In 2006, Andrew jointly founded Sourcecap with the aim of building a best-in-class investment boutique focused on excellence in European equity management. Prior to this, Andrew established Pembroke Capital Management in 2003 and successfully launched the Magenta Fund, a global equity non-directional fund. Before that, Andrew worked at Northern Trust Global Investments (Europe) Ltd as Chief Investment Officer of International Equities and was responsible for the management of global, international and regional portfolios. He has also held a variety of senior investment roles, including Head of International Equities at Julius Baer Investments, Chief Investment Officer at Lazard Brothers Asset Management, and Head of UK Equities at Baring Asset Management. Andrew holds an MA in Mathematics from the University of St Andrews.

Andrew is a member of the Investment Committee of the Trafalgar House Pension Trust . He was formerly an independent investment advisor to the Investment Sub-Committee of the Mineworkers’ Pension Scheme and a non-equity director of Aerion Fund Managers.

Bruce Duguid is a director at Hermes EOS and leads engagements with environmentally-exposed companies across the mining, oil and gas and utilities sectors, as well as corporate governance engagements in the UK. He is the lead author of the Institutional Investors Group on Climate Change’s 'Investor Expectations of Mining Companies – Drilling Deeper into Carbon Asset Risk’. Prior to joining Hermes EOS, he was head of sustainability at the UK Green Investment Bank, where he spent four years working on the project to establish the bank and then building its sustainability function. Before working in sustainability, Bruce worked in corporate strategy as a management consultant at the Boston Consulting Group and as head of strategy at Visa Europe. He is also a qualified lawyer in England and Wales and holds a degree in Natural Sciences from Cambridge University.

Louise joined Hermes in March 2009 and leads the ESG and responsible investment research strategy within Global Equities for Hermes. Building on her experience developing factor testing platforms and enhancing the factor modelling capabilities of the team’s systems, Louise has applied this comprehensive analysis to ESG applications. Having delivered research supporting the returns from ESG integration, this has led to the creation of innovative customised product solutions and tools fulfilling client needs. Louise originally joined Hermes as a member of the stewardship advisory business, Hermes EOS. Prior to Hermes she worked for Coca Cola in a financial accounting role having graduated with a Master’s degree in Engineering from the University of Durham. Louise holds the IMC and is a CFA charterholder. In 2017, Louise was named one of Financial News' Rising Stars of Asset Management.

Geof Stapledon is Vice President Governance for global resources company BHP Billiton, based in London, and has been with the company since 2008. He is also a non-executive director of the International Corporate Governance Network (ICGN), a global organisation whose investor members manage $18 trillion of assets; and an Executive Committee member of GC100, the association of General Counsel and Company Secretaries working in FTSE 100 companies.

 

Geof previously headed up Asia-Pacific research for ISS / RiskMetrics, having joined ISS when it acquired Proxy Australia, a Melbourne-based governance research firm he co-founded. His roles at ISS and Proxy Australia involved advising institutional investors on ESG (environmental, social and governance) issues at S&P/ASX 300 companies, managing analyst teams conducting ESG research on Asia Pacific, ex Japan stocks, and management of the Australian office. Before moving into the governance industry full-time, Geof was a professor of corporate law and corporate governance at the University of Melbourne, prior to which he worked as a lawyer specialising in corporate advisory and transactions. His book Institutional Shareholders and Corporate Governance was published by Oxford University Press in 1996. He has degrees in Economics and Law from the University of Adelaide, and a doctorate from the University of Oxford.

Venue Details

The symposium will be held at the Rosewood London Hotel, which is situated in High Holborn.

Address
252 High Holborn, London, WC1V 7EN