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Dermot Kiernan to head Hermes Property Unit Trust

The International business of Federated Hermes is pleased to announce the appointment of Dermot Kiernan as Fund Director for its Hermes Property Unit Trust (HPUT).

Dermot will join in the autumn from M&G Real Estate where he is the Fund Manager of the M&G UK Property Fund. Whilst at M&G he was also fund manager of two other UK portfolios: a discretionary segregated pension fund mandate and a property unit trust.

HPUT is an open-ended balanced property fund with AUM of £1.4 billion. The fund has a diversified portfolio with a focus on balanced asset allocation and active management. It has delivered top quartile returns over one, three, five- and ten- year periods compared to funds within its benchmark (MSCI/AREF All Balanced funds). *

Chris Taylor, CEO of Hermes Real Estate, comments, “Dermot brings with him a wealth of experience from more than three decades working within the real estate investment industry. He brings an investment philosophy which fully complements our responsible approach to investing that

has helped deliver outstanding returns over the past decade both in terms of financial outcomes as well as positive societal and environmental results.”

Dermot Kiernan comments, “I have long held the Hermes Real Estate team in high regard having seen them successfully build and defend an enviable reputation in the UK. The deep, company-wide commitment to a responsible approach is aligned to the opportunities in the market today and I look forward to building on the strong heritage of HPUT.”

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