Hermes Asia ex Japan Equity fund
Rating: A
Outcome: Capital Accumulation
We view this relatively new proposition as an interesting strategy that is truly doing something different compared to many of its peers. The manager, Jonathan Pines, is supported by a small but dedicated team of analysts, and has managed the strategy since launch in 2010 (it was changed into a UCITS IV format and made open to external investment in November 2012). The fund invests across the market capitalisation scale with the team's investment philosophy having an inherently contrarian and value bias. They essentially believe in buying stocks that are attractively priced relative to the underlying quality of the company. He also remains deeply aware of the potential loss for any investment and therefore looks for a margin of safety before any investment is made.
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