Hermes Global Emerging Markets F GBP

  • 143.50p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 194.97p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.15%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.17%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.80%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 29 May 2020

This fund aims to provide capital appreciation by investing in a diversified portfolio of emerging market equities or equity related securities. The fund tends to focus on quality companies to provide a more defensive portfolio.

Fund summary

Sector Global Emerging Markets
Structure OFFSHORE FUND
Launched November, 2012
Size £3,575m
Yield 0.80%
Charging basis
Dividends paid

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.15%
Ongoing charges figure 1.17%

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.57%
  • 16/17 0.20%
  • 17/18 0.07%
  • 18/19 -0.11%
  • 19/20 -3.39%

Bestinvest MRI

  • 3 years -1.14%
  • 5 years -0.53%
  • Career -0.18%
  • 3 years 20.10%
  • 5 years 28.40%
  • Career 43.60%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Gary Greenberg

Greenberg joined Hermes in September 2010 in the Emerging Markets team. Prior to this, he was Managing Partner at Silkstone Capital and Muse Capital, both London based hedge funds he co-founded and managed in 2007 and 2002, respectively. From 1999 through 2002 he was at Goldman Sachs in New York and London, where he co-headed the Emerging Markets product for GSAM. From 1998 to 1999 he was Managing Director at Van Eck Global in Hong Kong and New York, where he was the lead portfolio manager for International Equities and ran the Hong Kong Office. From 1994 through 1998 Greenberg was Chief Investment Officer at Peregrine Asset Management in Hong Kong. In the early years of his career he was a Principal of Wanger Asset Management in Chicago.

Track record

Gary Greenberg has 7.4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.18%. During the worst period of relative performance (from November 2017 - May 2019) there was a decline of 46% relative to the index. The worst absolute loss has been 55%.

Periods of worst performance

Absolute -55.00% (January 2018 - March 2020)
Relative -46.00% (November 2017 - May 2019)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Top 10 holdings

Data accurate as at 30 September 2016

6.68% Tencent
4.77% Taiwan Semiconductor Manu
4.07% Alibaba (ADR)
3.01% HDFC Bank
2.87% Bank Rakyat
2.73% KB Financial
2.52% AIA
2.51% Samsung Fire & Marine
2.43% Techtronic Industries
2.31% Power Grid

Portfolio

- typically 50 to 75 holdings

Key Investor Information - Income

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Key Investor Information - Accumulation

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