Emerging markets are establishing sustainable growth rather than the old model of cheap labour, cheap land, pollute as much as you want. Now is the time for them to find their niche in the global supply chain.
Manager Gary Greenberg has three decades of investment experience.
Bottom-up analysis finds quality companies trading at attractive valuations. Top-down framework identifies positive conditions for growth.
A concentrated portfolio with a high active share, invested long term.
Buying quality companies at a discount gives a margin of safety.
Flexibility to invest across the market capitalisation spectrum.
Environmental, social and governance factors are integrated into our analysis.
Risk is assessed at a stock, sector and country level. The team also considers ESG elements as part of their assessment of risk. This analysis is supported by Hermes EOS, our in-house engagement service. The investment team’s analysis of risk and opportunities feeds into their allocation decisions, which are focused on risk-adjusted returns.
Gary Greenberg
CFA, Head of Global Emerging Markets
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Gary Greenberg, who joined Hermes in September 2010, is Head of Hermes Global Emerging Markets.
Prior to this, he was managing partner at Silkstone Capital and Muse Capital, both London-based hedge funds he co-founded and managed in 2007 and 2002, respectively. From 1999 through 2002 he was executive director at Goldman Sachs in New York and London, where he co-headed the emerging markets product for GSAM and served on the global asset allocation and European stock selection committees. From 1998 to 1999 he was managing director at Van Eck Global in Hong Kong and New York, where he was the lead portfolio manager for international equities and ran the Hong Kong office. From 1994 through 1998 Gary was chief investment officer at Peregrine Asset Management in Hong Kong, managing and supervising global and regional equity, plus fixed income funds. In the early years of his career he was a principal of Wanger Asset Management in Chicago, where he co-founded and co-managed the Acorn International Fund, which grew to $1.4bn under his tenure. Gary holds an MBA from Thunderbird School, a BA from Carleton College and is a CFA charterholder.
In 2017, the Hermes Global Emerging Markets Fund was named best emerging markets fund for the second year in a row at the Investment Week Fund Manager of the Year Awards, best emerging markets fund by InvestmentEurope, and best emerging markets group by Citywire Deutschland. Gary was named best manager for emerging markets equity by Citywire UK.
Kunjal Gala
Co-Portfolio Manager
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Kunjal Gala joined Hermes in 2012 as part of the Emerging Markets team, focused on Asia ex Japan. He joined from Her Majesty's Government, where he worked from October 2008 as an assistant director in The Shareholder Executive, the in-house portfolio management and corporate finance arm of the UK Government. Prior to this he was a senior financial analyst at Morgan Stanley Investment Banking from December 2004, responsible for both business development and execution of M&A and strategy mandates within the consumer products coverage banking team. Previously he worked for Thomas Cook (India) in the management information systems division (September 2003), and PricewaterhouseCoopers in the Assurance and Business Advisory Service (August 2001). Kunjal has a Bachelor of Commerce from Mumbai University and is a qualified Chartered Accountant from the Institute of Chartered Accountants in India.
Amit Mehta
Senior Analyst - Asia ex-Japan
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Amit Mehta joined Hermes in January 2018 as a senior analyst in the Emerging Markets team, focused on Asia ex Japan. Prior to joining Hermes, Amit was a senior vice president on the global emerging equity market team at PIMCO and a senior investment manager in global emerging markets at Pictet Asset Management. He previously worked as an equity analyst at Insight Investment, covering global financials, and in equity research at Morgan Stanley, covering European banks. Amit began his career in accounting and held positions at Robson Rhodes and KPMG. He holds a Bachelor's degree in Accounting and Financial Analysis from the University of Warwick. He is also an Associate Chartered Accountant with the Institute of Chartered Accountants in England and Wales.
