We target a wide range of carefully chosen properties – including retail, office and industrial units across the UK. Our long-term goal is to maintain a balanced portfolio with the potential to grow sustainably.
A balanced asset allocation and active stock diversification strategy looking for balanced risk and return within a single solution.
Active property management to maximise returns and create sustainable value.
Dedicated team of 8 investment professionals with over 20 years’ average industry experience.
Oversight from a wholly independent appointments committee to ensure a responsible investment approach.
An industry leader in environmental management.
The Trust invests directly in properties ranging in value from £1.4 million to £69.0 million as at 25 March 2020.
We select, own and manages all these properties directly. All the investors in the strategy are UK pension funds or charities, committed to achieving long-term returns.
Chris Darroch
Interim Fund Director
Chris Darroch
Interim Fund Director
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Chris Darroch
Interim Fund Director
Chris joined the International business of Federated Hermes in December 2009 and is the Fund Director for BTPS and Interim Fund Director for Hermes Property Unit Trust. Chris joined from Aberdeen Asset Managers, where he was a Director of Fund Management, responsible for the management of over £1.2 billion on behalf of pension fund clients. Chris began his career at Richard Ellis (now CBRE), where he gained a broad range of experience in the commercial property sector and in 1994 he joined Scottish Amicable Investment Managers (now Aberdeen). Chris has a BSc in Land Economics from Paisley University and is a Member of the Royal Institution of Chartered Surveyors and the Investment Property Forum.
Russell Black
Director – Fund Manager
Russell Black
Director – Fund Manager
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Russell Black
Director – Fund Manager
Russell joined the International business of Federated Hermes in March 2002 and was appointed Fund Manager for Federated Hermes Property Unit Trust in November 2019 having acted as Interim Fund Manager for most part of 2019. He was previously lead Asset Manager for Hermes Property Unit Trust and prior to that an Investment Manager responsible for both the direct and indirect Retail Warehouse portfolio across Federated Hermes funds. Prior to joining Federated Hermes, Russell worked at Donaldsons Surveyors in London and Leeds. Russell has a BSc (Hons) in Estate Management from the University of Ulster and is a Member of the Royal Institute of Chartered Surveyors.
The Appointments Committee consists of at least three, and at most eight, members. Each year at least one third of the Appointments Committee retires at the Annual General Meeting and is then eligible for re-election by Unit Holders.
The Appointments Committee provides independent oversight of Hermes on behalf of Unit Holders. The Appointments Committee was formed as part of a restructuring in order to comply with the Alternative Investment Fund Managers Directive which became effective from 22 July 2013.
David is a Chartered Accountant and worked for Morgan Stanley from 1984 until 2010 taking various senior operational roles. He was chair of Morgan Stanley Pension Trustee Limited and non-executive chair of the audit committee of Morgan Stanley International until the end of 2011. He is currently Chief Executive of Brewin Dolphin plc and a member of the Council of ICAS. David accepted the position of trustee for The Urology Foundation in 2017.
Paul is Chief Investment Officer at the Crown Estate, previously Director of Investment and Asset Management since 2007, prior to that he ran the Church Commissioners global real estate investment portfolio. He also sits on various industry bodies including the Policy Committee of The British Property Federation.
Sue is an Executive Director at CBRE, the global property advisers, where she has specialised in UK investment markets for over 25 years. Sue is a Non-Executive Director of Helical Plc where she chairs the Valuation Committee and sits on the Audit and Remuneration Committees. She is a Trustee of the Reading Real Estate Foundation. Barwood Capital Ltd have appointed Sue as Chair of its Barwood Property Fund 2017.
Andrew is a non-executive director of C. Hoare & Co., Ecclesiastical Insurance Group plc, Lloyds Bank Corporate Markets plc and previously, National Bank of Greece S.A. He was a partner at Ernst & Young for 28 years, also serving on the firm’s board and as a trustee of its pension scheme.
Frances has more than 30 years’ experience across various roles within the asset management and investment banking industries. Since 2007 she has been a partner of Opus Corporate Finance and she currently holds non-executive roles on the JP Morgan Smaller Companies Investment Trust Board, Aviva’s With-Profits Committee, the Aegon Investments Ltd Board and, the Board of HICL plc.
