Hermes unveils Absolute Return Credit fund

Hermes Investment Management has added to its fixed income range with the launch of an Absolute Return Credit fund.

The UCITS vehicle, which launched on 1 June 2015, targets a positive investment return over a rolling 12-month period, irrespective of market conditions. It sits in the IA Targeted Absolute Return sector, with all investments hedged back to dollars. Co-head of credit Fraser Lundie and senior portfolio manager Raphael Muller are running the portfolio, which invests in 100 to 150 higher quality names. Lundie (pictured) said: “The Hermes Absolute Return Credit fund is a market neutral solution and follows our philosophy that investors must look beyond issuers and focus on a multi-strateg...