The manager of the £421m US Small & Mid Cap fund, will be succeeded by Mark Sherlock who assumes position as lead manager with immediate effect.
Sherlock joined Hermes in 2005, and has been co-manager of the US Small & Mid Cap strategy since 2009. The strategy was launched in 2001 and became available to wholesale investors in September 2012 as a Ucits fund.
Sherlock and Anstey have been working closely to manage a smooth transition.
Sherlock will continue to be supported by Alex Knox and Henry Biddle, and Hermes is looking to hire additional resource in due course.
Marathon, which was unavailable for comment at the time of writing, was set up in 1986 as an equity-only institutional London-based investment boutique.
Its philosophy refrains from “committee-based decision making”, which it said results in portfolios with diversified, higher conviction views designed to deliver long-term outperformance.
The group does not yet market a US-focused product. Its range comprises equity funds including global, European, international, UK and Japanese mandates.
A Hermes spokesperson said: “After 12 years at Hermes Fund Managers, Robert Anstey is leaving the firm to take a role at another asset manager. We thank him for his contribution to the firm and wish him well for the future.
“We are pleased to announce that Mark Sherlock will assume leadership of the Hermes US Small & Mid Cap fund with immediate effect.
“The team’s process has been developed over many years and proved effective at generating strong risk-adjusted returns through the market cycle. We are confident that this will continue to be the case under Mark’s leadership."
Over 1 year to 24 October, the fund delivered 37.8% against the IMA North American Smaller Companies peer group’s 37.3% according to Financial Express. Historical data longer than this period does not exist, with the fund’s track record sitting being institutional only.
