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.
A dedicated team of six investment professionals with over 16 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 £1.2million to £101.5million.
Hermes selects, owns 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 Mathew
Fund Director - HPUT
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Chris Mathew
Fund Director - HPUT
Chris is the Fund Director for the HPUT, joining Hermes in July 2002. Chris qualified as a chartered surveyor in 1995, and prior to joining Hermes was an associate partner in the valuation consulting team of Drivers Jonas, a position he held for four years. At Drivers Jonas, Chris dealt with options appraisals / estate strategies on client portfolios; negotiation for the sale and purchase of interests in specialist properties, and was latterly seconded to the sponsors of the World Athletics Championships to advise on site assembly and real estate issues. Before joining Drivers Jonas, Chris worked at King Sturge and the Investment Property Databank. Chris has been working in the HPUT team since April 2003, became Fund Manager in June 2006 and Fund Director in April 2007. Chris was a member of the Association of Real Estate Funds Management Committee between 2006 and 2016, and chaired the sub-committee that brought in guidance on expense ratios and the revised Code of Practice.
Mark Beattie
Deputy Fund Manager - HPUT
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Mark Beattie
Deputy Fund Manager - HPUT
Mark joined Hermes in 2005 as an Investment Surveyor focusing on acquisitions and disposals for three of Hermes principle clients. In 2007, Mark was promoted to Investment Manager of the Unit Shop and Food Store portfolio where he was responsible for the performance of c.£700m of directly held assets across three funds. In 2009, Mark joined the HPUT team, focusing on HPUT’s acquisitions and disposal programme, which soon developed into his current role as Deputy Fund Manager of HPUT. Prior to Hermes, Mark joined DTZ in 2001, where he gained experience in the professional team, UK valuations and investment agency before qualifying as a Chartered Surveyor in 2003. Mark’s last two years at DTZ were spent within the Private Client Investment team, undertaking acquisitions and disposals across all sectors throughout the UK.
Russell Black
Director, Asset Manager - HPUT
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Russell Black
Director, Asset Manager - HPUT
Russell joined Hermes in March 2002 as a Retail Surveyor to work on a UK mixed use retail portfolio. In 2005 he was appointed as an Investment Manager responsible for the Hermes Retail Warehouse portfolio (approx £700 million) with responsibility for both direct and indirect retail warehouse assets. In 2009 Russell was appointed as Asset Manager for the Hermes Property Unit Trust.
Ben Tolhurst
Director, Asset Manager - HPUT
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Ben Tolhurst
Director, Asset Manager - HPUT
Ben joined Hermes in 2010 as an asset manager for the Hermes Property Unit Trust. He holds a Diploma in Property Valuation and Management and is a Member of the Royal Institution of Chartered Surveyors. He has 17 years experience in the property industry in the UK and Europe, most recently as Head of Asset Management at Edinburgh House Estates, David Roberts’ property vehicle. Prior to that he was a Partner at Donaldsons where he gained private practice experience across all commercial property sectors in a range of professional and managerial roles.
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 Nicol BA (Hons) CA - Chairman (Appointed 16 July 2012)
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 Clark BA (Hons), MPhil (Appointed 3 December 2014)
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 is also a non-executive Director of Ronson Capital Partners and sits on various industry bodies including the Policy Committee of The British Property Federation.
Sue Clayton BSc FRICS (Appointed 9 December 2014)
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 McIntyre MA, ACA (Appointed 7 June 2017)
Andrew is a non-executive director of C. Hoare & Co and Ecclesiastical Insurance Group plc, and was previously a board member and chairman of Southern Housing Group Limited. He was a partner at Ernst & Young for 28 years. He also served on the firm’s board and was a trustee of the firm’s pension schemes. Andrew is a trustee of the Centre for Economic Policy Research and a member of the Financial Reporting Council Review Panel.
