Hermes CEO: Super low interest rates are distorting industry values

Super low interest rates distort industry values

Saker Nusseibeh, CEO of Hermes Investment Management, tells Hardeep Tawakley how his criticism of the fund management industry has now prompted changes at his own company.

Hermes Investment Management's decision to quit the commodities market and close down its hedge fund-of-funds division, Hermes BPK Partners, in November was a significant one for the group.     Although the commodities market has experienced a difficult few years, with the Bloomberg Commodity index at its lowest level since 2002, Hermes had a considerable $793m invested in the asset class as recently as September 2014. This figure is a significant drop from the $2.3bn held in 2013, but its commodity funds held their own in the face of struggling sector performance. The DB Platinum V H...