Hermes unveils Emerging Asia fund

Hermes Fund Managers has launched an Emerging Asia fund for manager Jonathan Pines.

The product is based on the group's Emerging Asia strategy, which Pines has run since the end of 2009. Focusing on China, Korea, Taiwan and India, it will be run using a contrarian, value-biased, high conviction strategy with an emphasis on stock selection. The fund will be benchmarked against the MSCI Asia ex-Japan Index. "Growth in the emerging Asia region continues to outpace that of the developed world. However it is the structural and rapid change that accompanies this growth, rather than the growth itself, that is the source of the stock selection opportunity," said Pines. ...