UK - Hermes Focus Asset Management (HFAM) has introduced the new Focus Fund for quoted small companies.
The new fund will invest in under-performing companies outside the FTSE350 and use relational shareholder engagement techniques to improve long-term value and thereby return above average performance to investors.
HFAM has recruited Paul Harrison to be head of the focus fund. Harrison spent 10 years with Arthur Anderson and most recently six years with sporting goods company HI-TEC Sports.
Philip Harris joins HFAM next month as head of investments for the new fund. Harris joins form Credit Suisse Asset Management where he was head of the small companies’ funds.
Hermes Focus Fund will invest in 20-30 fully listed UK companies outside the FTSE 350 and has a target size of £75-£100m. BT Pension Scheme has committed £15m to the new fund, which will start investing early next year.
Because of the limited size of the fund initial investments will be limited to a maximum of £15m each and priority will be given to Hermes' current institutional clients. Minimum investment will be £5m.
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