Hermes brings US small/mid-cap fund to UK market

Hermes Fund Managers has launched a US small and mid-cap equity fund based on a strategy run by its US team for over a decade.

The Hermes US SMID Equity fund, managed by Robert Anstey and team, has returned 10.7% per annum since inception in 2001, according to Hermes, versus an annual return of 8.7% for its Russell 2500 benchmark. The group said the fund has achieved such returns with a relatively low-risk profile for the asset class, generating an information ratio of 0.88 over the past five years. "We travel extensively around the US, meeting with around 250 management teams each year, and seek to buy high quality companies at a discount to their intrinsic value," said Anstey. "The European market is poo...