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Hermes products are aimed exclusively at institutional and professional investors. Hermes is a multi-boutique 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”) and 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 Hermes Real Estate Investment Management Limited ("HREIML”) and Hermes BPK Partners LLP (“HBPK”), which are not regulated. HIML carries on all regulated activities associated with HREIML and HBPK and is responsible for marketing HREIML products and HBPK funds to prospective investors and for arranging their investment. © Hermes 2009.