Hermes US manager Anstey departs

Hermes Fund Managers’ US small and mid cap manager Robert Anstey has left the company.

He was manager of the £405.7m Hermes US SMID Equity fund, launched in September last year, and had been running a similar strategy since he joined the firm in 2001.

Co-manager Mark Sherlock is to take on the fund, supported by Alex Knox and Henry Biddle. A spokesperson for Hermes said the company would be hiring into the team in the near future.

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The spokesperson added: “The team’s process has been developed over many years and proved effective at generating strong risk-adjusted returns through the market cycle. We are confident that this will continue to be the case under Mark’s leadership.”

Since its launch last year the US SMID Equity fund has gained 38 per cent, according to FE Analytics, compared with its Russell 2500 index benchmark, which rose 34.3 per cent.

Morningstar OBSR has placed the fund under review following Mr Anstey’s departure, saying it “warrants caution” from investors.