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Hermes’ Lundie joins Aviva to lead fixed income team

24 May 2024

Fraser Lundie is joining Aviva Investors as global head of fixed income.

By Emma Wallis,

News editor, Trustnet

Aviva Investors has appointed Fraser Lundie as global head of fixed income. He was previously head of fixed income, public markets at Federated Hermes, where he served as the firm’s head of credit.

At Aviva Investors, he will be responsible for the global rates, investment grade, high yield, emerging market debt and global liquidity teams.

Lundie and his team managed around £5bn in credit strategies for Federated Hermes across pooled funds and segregated accounts. Lundie was the lead or co-manager for the firm’s multi-strategy credit, global high-yield credit, absolute return credit and unconstrained credit funds, the latter of which has £1bn in assets under management.

During the 14 years he spent at Federated Hermes, Lundie developed a strong focus on sustainable investing and he designed and launched sustainable credit strategies, including the $1.2bn Federated Hermes SDG Engagement High Yield Credit fund.

Lundie said: “I am incredibly proud and excited to be joining a firm with such a rich history and culture of embracing innovation, technology and sustainability.  The opportunity to contribute to Aviva Investors’ efforts in building a best-in-class fixed income franchise for our clients is something I relish being a part of.”

He will report to chief investment officer Daniel McHugh, who said: “Fraser has a very deep wealth of experience across all asset classes within the fixed income universe and a deep understanding of delivering sustainable solutions.”

At Federated Hermes, Mitch Reznick, global head of sustainable fixed income, has stepped up to become group head of fixed income. He joined the firm at the same time as Lundie in 2010 and they were joint heads of credit from 2012 until 2019, when Reznick took the lead on sustainability. Lundie then became the sole head of credit until his promotion in 2022 to lead the fixed income team.

Federated Hermes is not making any further changes to the portfolio management teams running its bond funds.

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