Hermes Investment Management has confirmed the launch of its Unconstrained Credit fund managed by Fraser Lundie and head of fixed income Andrew Jackson, which has been seeded with £185m from investors including Quilter Multi-Asset.
As previously unveiled by Investment Week on 19 March, the fund will have a target of Libor +5% over the market cycle and will invest across the global liquid credit spectrum, which includes investment grade, high yield, emerging market debt, convertibles, asset-backed securities and loans. UCITS compliant, the fund will also have the ability to use options overlays to reduce risk. The fund employs bottom-up credit selection that includes pricing in environmental, social and governance (ESG) risks. Lundie (pictured), who is co-head of credit and senior credit portfolio manager resp...
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