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This website is directed only at recipients who are eligible counterparties or professional clients, as defined in the Glossary to the Financial Services Authority’s Handbook of Rules and Guidance. Any investment or service to which this website relates is only available to and will only be engaged in with such persons and any other persons who receive this communication should not rely on or act upon this communication.Hermes is a multi-specialist asset manager, independent of any broader financial services organisation. Each Hermes operating company [and limited liability partnership] is either a subsidiary of, or is otherwise affiliated to, Hermes Fund Managers Limited. They carry on business under the name "Hermes". The main operating companies within the Hermes Group are Hermes Investment Management Limited (“HIML”), Hermes Administration Services Limited (“HASL”), Hermes Focus Asset Management Limited (“HFAM”), Hermes Focus Asset Management Europe Limited (“HFAME”), Hermes UOB Capital Asset Management Limited (“HUCM”), Hermes Private Equity Limited (“HPEL”), Hermes Real Estate Investment Management Limited ("HREIML") and Hermes BPK Partners LLP (“HBPK”). All of the above named operating companies are separately authorised and regulated by the Financial Services Authority except for ("HREIML") which is not regulated. HIML currently carries on all regulated activities associated with HREIML and is responsible for marketing HREIML products and HBPK funds to prospective investors and for arranging their investment. © Hermes 2009.