We permit the publication of our auditors’ report, provided the report is published in full only and is accompanied by the full financial statements to which our auditors’ report relates, and is only published on an access-controlled page on your website, to enable users to verify that an auditors’ report by independent accountants has been commissioned by the directors and issued. Such permission to publish is given by us without accepting or assuming any responsibility or liability to any third party users save where we have agreed terms with them in writing.

Our consent is given on condition that before any third party accesses our auditors’ report via the webpage they first document their agreement to the following terms of access to our report via a click-through webpage with an 'I accept' button. The terms to be included on your website are as follows:

I accept and agree for and on behalf of myself and the Trust I represent (each a "recipient") that:

  1. PricewaterhouseCoopers LLP (“PwC”) accepts no liability (including liability for negligence) to each recipient in relation to PwC’s report. The report is provided to each recipient for information purposes only. If a recipient relies on PwC’s report, it does so entirely at its own risk;
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  4. PwC’s report was prepared with Hermes Property Unit Trust's interests in mind. It was not prepared with any recipient's interests in mind or for its use. PwC’s report is not a substitute for any enquiries that a recipient should make. The financial statements are as at 25 March 2017, and thus PwC’s auditors’ report is based on historical information. Any projection of such information or PwC’s opinion thereon to future periods is subject to the risk that changes may occur after the reports are issued and the description of controls may no longer accurately portray the system of internal control. For these reasons, such projection of information to future periods would be inappropriate.
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Statement of support to the Women in Finance Charter

Home / Women in Finance Charter

Hermes is committed to supporting the Women in Finance Charter, as well as supporting all forms of change that encourage a more diverse population across our business.

Hermes recognises the value a diverse workforce brings to the business and in particular the benefits of having a diversity of experience amongst senior management. As a forward-thinking organisation we have been active members of the 30% club in the UK, supporting the goal of achieving a minimum of 30% women on FTSE 100 Boards through our engagements with investee companies and more than meeting that level ourselves. We recognise the need to maintain the positive momentum generated from initiatives such as Lord Davies’ Review and in particular nurturing and growing the pipeline of female talent in order to support the progression of women into senior roles.

Gender diversity targets                                                 

Hermes will continue the positive work it has accomplished to date with the ultimate ambition of achieving gender parity across the whole business.

2018 target range Sep 2017 Sep 2016
Firm-wide 35-50% 39% 34%
Board 30-50% 29% 37%
Senior management level 25-40% 23% 24%

2017 update on progress

We are happy to be able to note that we have made real progress against our firm-wide gender diversity targets, the increase towards 40% is, we believe, evidence that our efforts to date are having a positive impact on the gender balance across our business. In more senior areas progress has been slower than we would like. For example, while the absolute number of women in senior positions in the firm has increased during the year the relative percentage has remained essentially static. This to a large part reflects the heavy gender bias within some areas of our industry. We recognise that this issue is one that will require concerted cross-industry efforts to increase the number of women entering investment management - something we are more than happy to play our part in supporting. Through our Corporate Citizenship programme which promotes a number of initiatives with local primary and secondary schools, we continue to work at breaking down barriers at an early age with the hope that this will bear fruit in the future talent pipeline.

Promoting an open environment for people to be themselves

Hermes is committed to treating everyone with whom we work fairly and with dignity and respect. To that end we have set up an internal working group to promote an inclusive culture which allows everyone to grow individually and also together as a strong and innovative organisation.

In 2017 our Unity working group held a week-long event entitled HerStory during which we celebrated the achievements of some of our talented female colleagues and took inspiration from a number of external female speakers, successful in predominantly male sectors. This focused week also allowed us to promote many of the support networks and services that we provide to all staff to help with the balance of  home life with a progressive career.

Key activities during the year

  • Training: Our Executive Committee, along with all line managers, attended Unconscious Bias and Employee Relations training in order to better understand and mitigate decision-making risks.
  • Retention: We are introducing a ‘returners’ programme for our staff who have been out on long-term absence, maternity, parental or adoption leave.
  • Culture: In order to further build on and embed our inclusive culture, our Executive Committee members have begun leading informal group sessions to foster good relationships and to also provide a platform for our senior female Executive Committee members to engage with new junior members of the company.