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Hermes Absolute Return Credit

Home / Capabilities / Liquid Credit / Hermes Absolute Return Credit

Objective: aiming to achieve absolute return regardless of wider market circumstances, across asset classes and geographies.

"Our disciplined and robust process, attention to risk management, 
independent research and integrated team approach are all vital components"

Fraser Lundie & Mitch Reznick

Co-Heads of Hermes Credit

mitch-and-fraser

Why Hermes for absolute return credit?

    • Directionless alpha generation: our global, multi-strategy, relative-value approach aims to generate risk-adjusted alpha.
    • Flexibility: investing in long and short positions across a broad range of liquid securities.
    • Liquid and transparent: investing purely in bonds, credit-default swaps and loans.
    • Diversification: not constrained by traditional corporate bond benchmarks, we can mitigate risk by investing across regions.
    • Investing worldwide: our security selection driven by the same intensive, bottom-up analysis that underpins all of our credit strategies.
    • Experienced team: skilled, integrated team whose principal members have worked together since 2004.

 

creditdiagram

Investment process

We apply the same global, relative-value approach that drives our high-yield and multi-strategy credit products. This strategy, however, is less concentrated, and through long and short positions we aim to provide a highly diversified and liquid portfolio that delivers consistent market-neutral returns.

Investment approach

We believe that global, relative-value investing throughout the capital structures of issuers can deliver strong returns through the cycle.

Through top-down analysis, we determine our risk appetite and the return prospects of different regions and sectors. These findings direct our disciplined, bottom-up research, in which we seek exposure to issuers with attractive credit risks and aim to determine which securities in their capital structures provide superior relative value.

Our global approach, in which we invest throughout the US, Europe and the emerging markets, provides us with access to an expansive set of opportunities and sources of liquidity.

Targets cannot be guaranteed.

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