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Asia ex Japan Equities

Home / Capabilities / Equities / Asia ex Japan Equity

Objective: aiming to achieve long-term capital appreciation by investing in equity securities and equity-related securities issued by companies in or deriving substantial revenues from emerging countries in Asia.

"Our biggest positions are in companies we believe are least likely to lose money in absolute terms"

Jonathan Pines

Portfolio Manager

jonathan-pines

Why Hermes Asia ex Japan Equity?

  • Price: we focus on buying stocks that are attractively priced, an approach we consider suitable to most market conditions.
  • Contrarian: as contrarian investors, often the stocks we buy are attractively priced because of negative news or underperfomance.
  • Asymmetric payoff: our larger positions tend to be those with a lower potential loss, meaning we aim to outperform in falling markets.
  • Track record: we rank among the best performing Asian equity strategies, but differ significantly from our peers1.

 

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Investment approach

  • Wheat from the chaff: we screen extensively to identify stocks priced attractively relative to their quality. Price to book and the five-year average return on assets are particularly important as we identify a stock’s divergence from its long-term fair value.
  • Financial statement analysis: we scrutinise company statements, then analyse the company in depth and speak with management.
  • Taking position: the size of our position is informed by our risk assessment. We manage risk at the stock and portfolio level. Typical holding periods are 12 to 18 months.

 

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Asian Investor Asset Management
Award Winner 2016

1. Since inception the Hermes Asia ex Japan Strategy has ranked in the top decile in the Mercer - Asia ex Japan Equity Peer Group. As at 30 June 2016.  The inception date of the strategy is 1 January 2010.

Past performance is not a reliable indicator of future results and targets are not guaranteed.

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