Multi-assetOct 31 2014

Hermes overhauls team as it launches multi-asset fund

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Hermes Investment Management is set to launch a multi-asset fund aimed at beating inflation following an overhaul of its investment business.

The investment manager, which has grown from £2bn of third party assets to £6bn in the past three years, has restructured its senior management team and created two new investment teams.

The newly-created multi-asset team, led by Tommaso Mancuso, will manage the Hermes Multi Asset Inflation fund, which will target an annual return of retail prices index (RPI) plus 3 per cent.

The firm has also set up a Greater China team, which will be based in Singapore and led by Richard Williams and Mike Curry, to manage its srategies including the Hermes BPK Greater China fund and the CSOP Hermes China A-Share fund.

Following the growth in its assets, Hermes have handed extra responsibility to several members of its senior management.

Chris Taylor, chief executive of Hermes real estate, has been appointed head of private markets and joins the firm’s executive committee.

Andrew Parry, chief executive of sourcecap, Hermes’ European equities team, has been appointed head of equities and Leon Kamhi, head of engagement in Hermes equity ownership services, has been appointed head of responsibility.

All three will retain their existing roles as well as the new positions.

Hermes has also hired Zoë Shaw from fixed income investment advisory firm Promethion to be its head of fixed income.