Dynamic multi-sector credit investing throughout market cycles.
Fraser Lundie, Head of Hermes Credit, introduces the Unconstrained Credit investment process. The strategy provides unconstrained, high-conviction investments across global credit, designed to capture superior relative value.
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.
Being a perma-bear is a little like a football coach selecting proven yet underperforming players and tactics in a season of poor results: changing course is difficult once you’ve invested a lot in a team roster and strategy, even though most enthusiasts understand that the game has moved on. But there is a key difference: the perma-bears know that the longer they are wrong, the more likely they are to be correct tomorrow. We should therefore not ignore perma-bears, while also trying to avoid the trap of being wrong for the wrong reasons.
Amplified: ESG integration across Hermes Fixed Income
In this podcast, Mitch Reznick, Co-Head of Hermes Credit & Head of Credit Research, looks at how ESG integration manifests itself across the varying fixed income products at Hermes. The following principal members of each of the fixed income teams join Mitch to discuss how ESG integration and engagement works for them: Patrick Marshall, Head of Private Debt & CLOs, Vincent Nobel, Head of Asset Based Lending and Andrew Lennox, ABS Portfolio Manager