The International business of Federated Hermes has announced the appointment of Dermot Kiernan as fund director for its Hermes Property Unit Trust (HPUT).
Kiernan will join in the autumn from M&G Real Estate where he is the fund manager of the M&G UK Property Fund. While at M&G he was also fund manager of two other UK portfolios: a discretionary segregated pension fund mandate and a property unit trust.
HPUT is an open-ended balanced property fund with AUM of £1.4 bn. The fund has a diversified portfolio with a focus on balanced asset allocation and active management.
Chris Taylor, CEO of Hermes Real Estate, commented, ‘Dermot brings with him a wealth of experience from more than three decades working within the real estate investment industry.
'He brings an investment philosophy which fully complements our responsible approach to investing that has helped deliver outstanding returns over the past decade both in terms of financial outcomes as well as positive societal and environmental results.’
