In Federated Hermes Capital Income's latest prospectus, dated Jan. 31, 2021, Michael Jura was added as a listed portfolio manager. He has been a member of the equity team since September 2014 and has nine years of investment experience. He effectively became second in command on the equity side when long-standing manager John Nichol left the firm unexpectedly in November 2019. The lead equity manager will continue to be Linda Bakhshian, who has been a listed manager since November 2009. The group has had some turnover and merged with another investment team in 2020. We are maintaining our Below Average People Pillar rating and Morningstar Analyst Rating of Neutral for the cheaper share classes, and Negative for the remaining share classes.
Will CAPAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable CAPAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the CAPAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of CAPAX’s parent organization’s priorities and whether they’re in line with investors’ interests.