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  • 14th May 2020
    Fixed Income
    Fraser Lundie
    Marking the 10-year anniversary of our Global High Yield capabilities, Fraser Lundie, CFA, Head of Credit, explains why investors on the hunt for income amid the dividend drought should turn to high yield as a long-term, sustainable alternative.
  • 17th February 2020
    Fixed Income
    Andrew Jackson
    Join Andrew Jackson, Head of Fixed Income, and Fraser Lundie, Head of Hermes Credit, for the third 360° webinar.
  • 9th December 2019
    Fixed Income
    Andrew Jackson
    Join Andrew Jackson, Head of Fixed Income, and Fraser Lundie, Head of Hermes Credit, for the second 360° webinar.
  • 26th November 2019
    Fixed Income
    Fraser Lundie
    Strong performance in credit markets since the start of this year means that many high-yield bonds now trade to call.
  • 14th November 2019
    Fixed Income
    Andrew Jackson
    Join Andrew Jackson, Head of Fixed Income, and Fraser Lundie, Head of Hermes Credit, for the inaugural 360° webinar.
  • 8th July 2019
    Fixed Income
    Andrew Jackson
    One year on from its launch, we ask: how has Hermes Unconstrained Credit performed?
  • 30th May 2019
    Fixed Income
    Fraser Lundie
    As the Multi-Strategy Credit hits a key milestone in June, Fraser Lundie, Head of Hermes Credit, looks back on how the strategy has fared in challenging markets since inception.
  • 25th November 2018
    Fixed Income
    Fraser Lundie
    Hermes Investment Management, the $46.9 billion manager, has announced the appointment of Nachu Chockalingam as Senior Emerging Market Debt Portfolio Manager. Based in London, Nachu reports into Fraser Lundie, Co-Head of Credit. The appointment is representative of the firm’s approach to providing current and prospective clients with access to all areas of global credit markets. Nachu will help manage the performance and risk of existing emerging market allocations across all liquid credit strategies. This includes the Hermes Unconstrained Credit Fund, which was launched in May 2018 and has since raised $386 million[1].
  • 17th September 2018
    Fixed Income
    Fraser Lundie
    US homebuilders have been hurt this year by concerns that rising interest rates could keep buyers at bay. But, as the sector continues to report strong demand for new housing, Fraser Lundie, Co-Head of Credit and Anna Chong, Credit Analyst, Hermes Investment Management ask: is the backdrop for US homebuilders favourable? The recent rise in interest rates – coupled with expectations of further rate hikes from the US Federal Reserve – has weighed heavily on US homebuilders this year: investors fear higher mortgage rates will weaken demand. But despite talk of a slowdown, industry fundamentals are still supportive of US homebuilders. Strength in the economy and labour market have boosted demand for housing. In Q2, US economic growth enjoyed its best performance in almost four years, increasing at an annualised rate of 4.2%, while unemployment remains low at 3.9% and job creation is solid. In July, employers added 157,000 jobs. Moreover, homebuilders’ recent robust earnings results demonstrate that demand has not been impacted by rising mortgage rates, with many reporting strong orders – an indicator of future revenue for homebuilders. Tight existing home inventory should also spur demand for new builds. Meanwhile, in a post-earnings call with analysts last month, Toll Brothers’ Chief Executive Douglas Yearley pointed to a structural shift towards the new-home industry – with buyers wanting to “create a one-of-a-kind custom home” rather than live in existing homes.
  • 25th June 2018
    Fixed Income
    Fraser Lundie
    As the Hermes Global High Yield, Global Investment Grade, Multi-Strategy and Absolute Return Credit strategies hit key milestones, Fraser Lundie CFA, Co-Head of Credit at Hermes Investment Management, explains how a rigorous investment process has allowed them to weather volatile storms. Marking new milestones This month, our Global High Yield Credit, Multi-Strategy Credit and Absolute Return Credit capabilities mark their eight-, five- and three-year anniversaries, respectively and in July, our Global Investment Grade Strategy will celebrate its eight-year anniversary. These four strategies have the following aims: 1. Global High Yield Credit: generate a high level of income by investing primarily in a diversified portfolio of high-yield bonds. Since its May 2010 inception, it has consistently delivered top-quartile return.