SEC Info℠ | Home | Search | My Interests | Help | Sign In | Please Sign In | ||||||||||||||||||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/27/24 Federated Hermes Managed … Series 485BPOS 2/28/24 30:12M Federated Admin… Svcs/FA → Federated Hermes Corporate Bond Strategy Portfolio ⇒ FCSPX → Federated Hermes High Yield Strategy Portfolio ⇒ FHYSX → Federated Hermes Mortgage Strategy Portfolio ⇒ FMBPX |
Document/Exhibit Description Pages Size 1: 485BPOS Post-Effective Amendment of a Form N-1 or N-1A HTML 3.08M Registration 7: EX-99.a CHARTER Articles of Incorporation/Organization HTML 231K 8: EX-99.b BYLAWS Bylaws HTML 77K 9: EX-99.d ADVSR CONTR Investment Advisor Contract HTML 36K 10: EX-99.d ADVSR CONTR Investment Advisor Contract HTML 35K 11: EX-99.e UNDR CONTR Underwriter Contract HTML 28K 12: EX-99.g CUST AGREEMT Custodian Agreement HTML 1.01M 13: EX-99.g CUST AGREEMT Custodian Agreement HTML 1.09M 14: EX-99.h OTH MAT CONT Other Material Contract HTML 62K 15: EX-99.h OTH MAT CONT Other Material Contract HTML 62K 16: EX-99.h OTH MAT CONT Other Material Contract HTML 849K 17: EX-99.h OTH MAT CONT Other Material Contract HTML 331K 18: EX-99.h OTH MAT CONT Other Material Contract HTML 488K 19: EX-99.h OTH MAT CONT Other Material Contract HTML 490K 20: EX-99.j OTHER OPININ Other Opinion HTML 11K 21: EX-99.p CODE ETH Code of Ethics HTML 229K 22: R1 Document and Entity Information HTML 38K 23: R2 Risk/Return Detail Data- Federated Hermes HTML 227K Corporate Bond Strategy Portfolio 24: R3 Risk/Return Detail Data- Federated Hermes High HTML 234K Yield Strategy Portfolio 25: R4 Risk/Return Detail Data- Federated Hermes Mortgage HTML 243K Strategy Portfolio 26: R5 Risk/Return Detail Data HTML 16K 27: XML IDEA XML File -- Filing Summary XML 26K 30: XML XBRL Instance -- fmps1597-form_htm XML 339K 3: EX-101.CAL XBRL Calculations -- fmps-20240227_cal XML 21K 4: EX-101.DEF XBRL Definitions -- fmps-20240227_def XML 694K 5: EX-101.LAB XBRL Labels -- fmps-20240227_lab XML 472K 6: EX-101.PRE XBRL Presentations -- fmps-20240227_pre XML 654K 2: EX-101.SCH XBRL Schema -- fmps-20240227 XSD 43K 28: JSON XBRL Instance as JSON Data -- MetaLinks 116± 286K 29: ZIP XBRL Zipped Folder -- 0001623632-24-000314-xbrl Zip 1.75M
EDGAR HTML |
Within the periods shown in the bar chart, the Fund's highest quarterly return was 9.60% (quarter ended June 30, 2020). Its lowest quarterly return was (12.42)% (quarter ended March 31, 2020).
i Federated Hermes Corporate Bond Strategy Portfolio i Federated Hermes Corporate Bond Strategy Portfolio iWithin the periods shown in the bar chart, the Fund's highest quarterly return was 11.68% (quarter ended June 30, 2020). Its lowest quarterly return was (7.70)% (quarter ended June 30, 2022).
i Federated Hermes Mortgage Strategy Portfolio iWithin the periods shown in the bar chart, the Fund's highest quarterly return was 7.57% (quarter ended December 31, 2023). Its lowest quarterly return was (5.18)% (quarter ended September 30, 2022).
i 2023-12-30 i 0001340579 i false i 485BPOS i FCSPX i FHYSX i FMBPX i highest quarterly return i 2020-06-30 i lowest quarterly return i 2020-03-31 i highest quarterly return i 2020-06-30 i lowest quarterly return i 2022-06-30 i highest quarterly return i 2023-12-31 i lowest quarterly return i 2022-09-30 i 0.0352 i 0.0176 i 0.1585 i 0.0750 i 0.0219 i 0.1510 i 0.0604 i 0.0540 i 0.1163 i 0.1396 i 0.0960 i 0.1242 i 0.0808 i 0.0271 i 0.0861 i 0.0801 i 0.0282 i 0.1656 i 0.1188 i 0.0041 i 0.1544 i 0.0920 i 0.1168 i 0.0770 i 0.0585 i 0.0167 i 0.0230 i 0.0275 i 0.0112 i 0.0629 i 0.0477 i 0.0094 i 0.1154 i 0.0518 i 0.0757 i 0.0518 0001340579 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:C000030208Member 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member rr:RiskLoseMoneyMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:InterestRateRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:RiskRelatedtotheEconomyMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:IssuerCreditRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:CounterpartyCreditRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:CallRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:SectorRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:LiquidityRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:RiskofForeignInvestingMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:RiskofInvestinginDerivativeContractsandHybridInstrumentsMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:LeverageRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:TechnologyRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member rr:RiskNotInsuredDepositoryInstitutionMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:C000030208Member fmps:ReturnAfterTaxesonDistributionsMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:C000030208Member fmps:ReturnAfterTaxesonDistributionsandSaleofFundSharesMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:BloombergUSCreditIndexMember 2024-02-29 2024-02-29 0001340579 fmps:S000010899Member fmps:BaacomponentoftheBloombergUSCreditIndexMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:C000030209Member 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member rr:RiskLoseMoneyMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:RiskAssociatedwithNoninvestmentGradeSecuritiesMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:IssuerCreditRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:CounterpartyCreditRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:RiskRelatedtotheEconomyMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:LiquidityRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:CallRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:InterestRateRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:RiskofForeignInvestingMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:RiskofInvestinginDerivativeContractsandHybridInstrumentsMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:LeverageRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:CustodialServicesandRelatedInvestmentCostsMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:ShareOwnershipConcentrationRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:TechnologyRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:UnderlyingFundRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member rr:RiskNotInsuredDepositoryInstitutionMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:C000030209Member fmps:ReturnAfterTaxesonDistributionsMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:C000030209Member fmps:ReturnAfterTaxesonDistributionsandSaleofFundSharesMember 2024-02-29 2024-02-29 0001340579 fmps:S000010900Member fmps:BloombergUSCorporateHighYield2IssuerCappedIndexMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:C000030211Member 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member rr:RiskLoseMoneyMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:MBSRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:InterestRateRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:RiskRelatedtotheEconomyMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:CounterpartyRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:CreditRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:PrepaymentandEXtensionRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:RiskofSecurityDowngradesMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:LiquidityRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:LeverageRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:RiskTransferNotesRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:EventLinkedBondsandOtherInsuranceLinkedSecuritiesRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:RiskofLeaseBackedandRentalBasedMBSMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:AssetBackedSecuritiesABSRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:RiskofInvestinginDerivativeInstrumentsMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:ShareOwnershipConcentrationRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:UnderlyingFundRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:TechnologyRiskMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member rr:RiskNotInsuredDepositoryInstitutionMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:C000030211Member fmps:ReturnAfterTaxesonDistributionsMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:C000030211Member fmps:ReturnAfterTaxesonDistributionsandSaleofFundSharesMember 2024-02-29 2024-02-29 0001340579 fmps:S000010902Member fmps:BloombergUSMortgageBackedSecuritiesIndexMember 2024-02-29 2024-02-29 xbrli:pure iso4217:USD
Ticker FCSPX |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) |
i None |
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) |
i None |
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) |
i None |
Redemption Fee (as a percentage of amount redeemed, if applicable) |
i None |
Exchange Fee |
i None |
Management Fee |
i 0.00% |
Distribution (12b-1) Fee |
i None |
Other Expenses |
i 0.26% |
Total Annual Fund Operating Expenses |
i 0.26% |
Fee Waivers and/or Expense Reimbursements1 |
( i 0.26)% |
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements |
i 0.00% |
1 Year |
$ i 0 |
3 Years |
$ i 0 |
5 Years |
$ i 0 |
10 Years |
$ i 0 |
Fund: |
1 Year |
5 Years |
10 Years |
Return Before Taxes |
i 9.20% |
i 3.70% |
i 3.70% |
Return After Taxes on Distributions |
i 7.38% |
i 2.07% |
i 1.91% |
Return After Taxes on Distributions and Sale of Fund Shares |
i 5.39% |
i 2.19% |
i 2.07% |
Bloomberg US Credit Index1
(Reflects no deduction for fees, expenses or taxes) |
i 8.18% |
i 2.45% |
i 2.83% |
Baa component of the Bloomberg US Credit Index2
(Reflects no deduction for fees, expenses or taxes) |
i 9.41% |
i 3.14% |
i 3.31% |
|
Year Ended December 31, | ||||
|
2022 |
2021 |
2020 |
2019 | |
Net Asset Value, Beginning of Period |
$9.63 |
$11.86 |
$12.38 |
$11.48 |
$10.26 |
Income From Investment Operations: |
|
|
|
|
|
Net investment income (loss)1 |
0.40 |
0.38 |
0.38 |
0.43 |
0.45 |
Net realized and unrealized gain (loss) |
0.46 |
(2.20) |
(0.44) |
0.91 |
1.22 |
TOTAL FROM INVESTMENT OPERATIONS |
0.86 |
(1.82) |
(0.06) |
1.34 |
1.67 |
Less Distributions: |
|
|
|
|
|
Distributions from net investment income |
(0.40) |
(0.38) |
(0.38) |
(0.43) |
(0.45) |
Distributions from net realized gain |
— |
(0.03) |
(0.08) |
(0.01) |
— |
TOTAL DISTRIBUTIONS |
(0.40) |
(0.41) |
(0.46) |
(0.44) |
(0.45) |
Net Asset Value, End of Period |
$10.09 |
$9.63 |
$11.86 |
$12.38 |
$11.48 |
Total Return2 |
9.20% |
(15.44)% |
(0.41)% |
11.88% |
16.56% |
Ratios to Average Net Assets: |
|
|
|
|
|
Net expenses3,4 |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Net investment income |
4.13% |
3.69% |
3.19% |
3.64% |
4.11% |
Expense waiver/reimbursement5 |
0.26% |
0.24% |
0.23% |
0.27% |
0.30% |
Supplemental Data: |
|
|
|
|
|
Net assets, end of period (000 omitted) |
$155,899 |
$134,660 |
$182,389 |
$143,775 |
$105,126 |
Portfolio turnover6 |
5% |
7% |
11% |
13% |
18% |
1 |
Per share numbers have been calculated using the average shares method. |
2 |
Based on net asset value. |
3 |
Federated Investment Management Company (the “Adviser”) has contractually agreed to reimburse all operating expenses, excluding extraordinary expenses,
incurred by the Fund. |
4 |
Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 |
This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/
reimbursement recorded by investment companies in which the Fund may invest. |
6 |
Securities that mature are considered sales for purposes of this calculation. |
FEDERATED HERMES CORPORATE BOND STRATEGY PORTFOLIO | |||||
ANNUAL EXPENSE RATIO: 0.00% | |||||
MAXIMUM FRONT-END SALES CHARGE: NONE | |||||
Year |
Hypothetical
Beginning
Investment |
Hypothetical
Performance
Earnings |
Investment
After
Returns |
Hypothetical
Expenses |
Hypothetical
Ending
Investment |
1 |
$10,000.00 |
$500.00 |
$10,500.00 |
$0.00 |
$10,500.00 |
2 |
$10,500.00 |
$525.00 |
$11,025.00 |
$0.00 |
$11,025.00 |
3 |
$11,025.00 |
$551.25 |
$11,576.25 |
$0.00 |
$11,576.25 |
4 |
$11,576.25 |
$578.81 |
$12,155.06 |
$0.00 |
$12,155.06 |
5 |
$12,155.06 |
$607.75 |
$12,762.81 |
$0.00 |
$12,762.81 |
6 |
$12,762.81 |
$638.14 |
$13,400.95 |
$0.00 |
$13,400.95 |
7 |
$13,400.95 |
$670.05 |
$14,071.00 |
$0.00 |
$14,071.00 |
8 |
$14,071.00 |
$703.55 |
$14,774.55 |
$0.00 |
$14,774.55 |
9 |
$14,774.55 |
$738.73 |
$15,513.28 |
$0.00 |
$15,513.28 |
10 |
$15,513.28 |
$775.66 |
$16,288.94 |
$0.00 |
$16,288.94 |
Cumulative |
|
$6,288.94 |
|
$0.00 |
|
Ticker FCSPX |
|
Contents |
1 |
|
1 |
|
9 |
|
15 |
|
17 |
|
19 |
|
22 |
|
22 |
|
23 |
|
23 |
|
23 |
|
24 |
|
39 |
|
39 |
|
44 |
|
45 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) for Past Five Years,
Other Directorships Held and Previous Position(s) |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Fund and
Federated Hermes Complex
(past calendar year) |
J. Christopher Donahue*
Birth Date: April 11, 1949
President and Trustee
Indefinite Term
Began serving: October 2005 |
Principal Occupations: Principal Executive Officer and President of certain
of the Funds in the Federated Hermes Complex; Director or Trustee of the
Funds in the Federated Hermes Complex; President, Chief Executive
Officer and Director, Federated Hermes, Inc.; Chairman and Trustee,
Federated Investment Management Company; Trustee, Federated
Investment Counseling; Chairman and Director, Federated Global
Investment Management Corp.; Chairman and Trustee, Federated Equity
Management Company of Pennsylvania; Trustee, Federated Shareholder
Services Company; Director, Federated Services Company.
Previous Positions: President, Federated Investment Counseling; President
and Chief Executive Officer, Federated Investment Management Company,
Federated Global Investment Management Corp. and Passport
Research, Ltd.; Chairman, Passport Research, Ltd. |
$0 |
$0 |
John B. Fisher*
Birth Date: May 16, 1956
Trustee
Indefinite Term
Began serving: May 2016 |
Principal Occupations: Principal Executive Officer and President of certain
of the Funds in the Federated Hermes Complex; Director or Trustee of
certain of the Funds in the Federated Hermes Complex; Director and Vice
President, Federated Hermes, Inc.; President, Director/Trustee and CEO,
Federated Advisory Services Company, Federated Equity Management
Company of Pennsylvania, Federated Global Investment Management
Corp., Federated Investment Counseling, Federated Investment
Management Company and Federated MDTA LLC; Director, Federated
Investors Trust Company.
Previous Positions: President and Director of the Institutional Sales
Division of Federated Securities Corp.; President and CEO of Passport
Research, Ltd.; Director and President, Technology, Federated
Services Company. |
$0 |
$0 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Other Directorships Held for
Past Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Trust and
Federated Hermes Complex
(past calendar year) |
G. Thomas Hough
Birth Date: February 28, 1955
Trustee
Indefinite Term
Began serving: August 2015 |
Principal Occupations: Director or Trustee and Chair of the Board of
Directors or Trustees of the Federated Hermes Complex; formerly,
Vice Chair, Ernst & Young LLP (public accounting firm) (Retired).
Other Directorships Held: Director, Chair of the Audit Committee,
Member of the Compensation Committee, Equifax, Inc.; Lead Director,
Member of the Audit and Nominating and Corporate Governance
Committees, Haverty Furniture Companies, Inc.; formerly, Director,
Member of Governance and Compensation Committees, Publix Super
Markets, Inc.
Qualifications: Mr. Hough has served in accounting, business management
and directorship positions throughout his career. Mr. Hough most recently
held the position of Americas Vice Chair of Assurance with Ernst &
Young LLP (public accounting firm). Mr. Hough serves on the President’s
Cabinet and Business School Board of Visitors for the University of
Alabama. Mr. Hough previously served on the Business School Board of
Visitors for Wake Forest University, and he previously served as an
Executive Committee member of the United States Golf Association. |
$326.91 |
$365,000 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Other Directorships Held for
Past Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Trust and
Federated Hermes Complex
(past calendar year) |
Maureen Lally-Green
Birth Date: July 5, 1949
Trustee
Indefinite Term
Began serving: August 2009 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; Adjunct Professor of Law, Emerita, Duquesne University School of
Law; formerly, Dean of the Duquesne University School of Law and
Professor of Law and Interim Dean of the Duquesne University School of
Law; formerly, Associate General Secretary and Director, Office of Church
Relations, Diocese of Pittsburgh.
Other Directorships Held: Director, CNX Resources Corporation
(natural gas).
Qualifications: Judge Lally-Green has served in various legal and business
roles and directorship positions throughout her career. Judge Lally-Green
previously held the position of Dean of the School of Law of Duquesne
University (as well as Interim Dean). Judge Lally-Green previously served as
Director of the Office of Church Relations and later as Associate General
Secretary for the Diocese of Pittsburgh, a member of the Superior Court of
Pennsylvania and as a Professor of Law, Duquesne University School of Law.
Judge Lally-Green was appointed by the Supreme Court of Pennsylvania
and previously served on the Supreme Court’s Board of Continuing Judicial
Education and the Supreme Court’s Appellate Court Procedural Rules
Committee. Judge Lally-Green was then appointed by the Supreme Court
of Pennsylvania and currently serves on the Judicial Ethics Advisory Board.
Judge Lally-Green also currently holds the positions on not for profit or for
profit boards of directors as follows: Director and Chair, UPMC Mercy
Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State
Board of Education (public); Director, Catholic Charities, Pittsburgh; and
Director, CNX Resources Corporation (natural gas). Judge Lally-Green has
held the positions of: Director, Auberle; Director, Epilepsy Foundation of
Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh;
Director, Saint Thomas More Society; Director and Chair, Catholic High
Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar
Institute; Director, Saint Vincent College; Director and Chair, North Catholic
High School, Inc.; Director and Vice Chair, Our Campaign for the Church
Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
$295.56 |
$330,000 |
Thomas M. O’Neill
Birth Date: June 14, 1951
Trustee
Indefinite Term
Began serving: August 2006 |
Principal Occupations: Director or Trustee and Chair of the Audit
Committee of the Federated Hermes Complex; Sole Proprietor, Navigator
Management Company (investment and strategic consulting).
Other Directorships Held: None.
Qualifications: Mr. O’Neill has served in several business, mutual fund and
financial management roles and directorship positions throughout his
career. Mr. O’Neill serves as Director, Medicines for Humanity. Mr. O’Neill
previously served as Chief Executive Officer and President, Managing
Director and Chief Investment Officer, Fleet Investment Advisors; President
and Chief Executive Officer, Aeltus Investment Management, Inc.; General
Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment
Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending
Officer, Fleet Bank; Director and Consultant, EZE Castle Software
(investment order management software); Director, Midway Pacific
(lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
$295.56 |
$330,000 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Other Directorships Held for
Past Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Trust and
Federated Hermes Complex
(past calendar year) |
Madelyn A. Reilly
Birth Date: February 2, 1956
Trustee
Indefinite Term
Began serving: November 2020 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; formerly, Senior Vice President for Legal Affairs, General Counsel
and Secretary of Board of Directors, Duquesne University (Retired).
Other Directorships Held: None.
Qualifications: Ms. Reilly has served in various business and legal
management roles throughout her career. Ms. Reilly previously served as
Senior Vice President for Legal Affairs, General Counsel and Secretary of
Board of Directors and Director of Risk Management and Associate General
Counsel, Duquesne University. Prior to her work at Duquesne University,
Ms. Reilly served as Assistant General Counsel of Compliance and
Enterprise Risk as well as Senior Counsel of Environment, Health and
Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board
of Directors of UPMC Mercy Hospital, and as a member of the Board of
Directors of Catholic Charities, Pittsburgh. |
$268.68 |
$300,000 |
P. Jerome Richey
Birth Date: February 23, 1949
Trustee
Indefinite Term
Began serving: October 2013 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; Retired; formerly, Senior Vice Chancellor and Chief Legal Officer,
University of Pittsburgh and Executive Vice President and Chief Legal
Officer, CONSOL Energy Inc. (split into two separate publicly traded
companies known as CONSOL Energy Inc. and CNX Resources Corp.).
Other Directorships Held: None.
Qualifications: Mr. Richey has served in several business and legal
management roles and directorship positions throughout his career.
Mr. Richey most recently held the positions of Senior Vice Chancellor and
Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as
Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and
Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey
previously served as Chief Legal Officer and Executive Vice President,
CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics
Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
$295.56 |
$330,000 |
John S. Walsh
Birth Date: November 28, 1957
Trustee
Indefinite Term
Began serving: November 2005 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; President and Director, Heat Wagon, Inc. (manufacturer of
construction temporary heaters); President and Director, Manufacturers
Products, Inc. (distributor of portable construction heaters); President,
Portable Heater Parts, a division of Manufacturers Products, Inc.
Other Directorships Held: None.
Qualifications: Mr. Walsh has served in several business management roles
and directorship positions throughout his career. Mr. Walsh previously
served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
$268.68 |
$300,000 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Previous Position(s) |
Lori A. Hensler
Birth Date: January 6, 1967
Treasurer
Officer since: April 2013 |
Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Complex; Senior Vice President,
Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer,
Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation.
Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors
Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services,
Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services
Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp.,
Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd. and Federated MDTA,
LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution
Services, Inc. |
Peter J. Germain
Birth Date: September 3, 1959
CHIEF LEGAL OFFICER,
SECRETARY and EXECUTIVE
VICE PRESIDENT
Officer since: October 2005 |
Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes
Complex. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee
and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative
Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities
Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company;
and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a
member of the Pennsylvania Bar Association.
Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes,
Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter
Birth Date: June 5, 1975
CHIEF COMPLIANCE OFFICER
AND SENIOR VICE PRESIDENT
Officer since: July 2015 |
Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Complex; Vice President
and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries.
Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66.
Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to
joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions
of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Robert J. Ostrowski
Birth Date: April 26, 1963
Chief Investment Officer
Officer since: September 2006 |
Principal Occupations: Robert J. Ostrowski joined Federated Hermes, Inc. in 1987 as an Investment Analyst and became a
Portfolio Manager in 1990. He was named Chief Investment Officer of Federated Hermes, Inc. taxable fixed-income products in
2004 and also serves as a Senior Portfolio Manager. Mr. Ostrowski became an Executive Vice President of the Fund’s Adviser in
2009 and served as a Senior Vice President of the Fund’s Adviser from 1997 to 2009. Mr. Ostrowski has received the Chartered
Financial Analyst designation. He received his M.S. in Industrial Administration from Carnegie Mellon University. |
Principal Occupations: Stephen F. Auth is Chief Investment Officer of various Funds in the Federated Hermes Complex;
Executive Vice President, Federated Investment Counseling, Federated Global Investment Management Corp. and Federated
Equity Management Company of Pennsylvania.
Previous Positions: Executive Vice President, Federated Investment Management Company and Passport Research, Ltd.
(investment advisory subsidiary of Federated Hermes); Senior Vice President, Global Portfolio Management Services Division;
Senior Vice President, Federated Investment Management Company and Passport Research, Ltd.; Senior Managing Director and
Portfolio Manager, Prudential Investments. |
Director/Trustee Emeritus |
Compensation
From Fund
(past fiscal year) |
Total
Compensation
Paid to
Director/Trustee
Emeritus1
|
John T. Collins2 |
$344.82 |
$385,000 |
Charles F. Mansfield, Jr. |
$19.79 |
$60,000 |
Board
Committee |
Committee
Members |
Committee Functions |
Meetings Held
During Last
Fiscal Year |
Executive |
J. Christopher Donahue
G. Thomas Hough
John S. Walsh |
In between meetings of the full Board, the Executive Committee generally may
exercise all the powers of the full Board in the management and direction of the
business and conduct of the affairs of the Trust in such manner as the Executive
Committee shall deem to be in the best interests of the Trust. However, the
Executive Committee cannot elect or remove Board members, increase or decrease
the number of Trustees, elect or remove any Officer, declare dividends, issue shares
or recommend to shareholders any action requiring shareholder approval. |
One |
Board
Committee |
Committee
Members |
Committee Functions |
Meetings Held
During Last
Fiscal Year |
Audit |
Maureen Lally-Green
Thomas M. O’Neill
P. Jerome Richey
John S. Walsh |
The purposes of the Audit Committee are to oversee the accounting and financial
reporting process of the Fund, the Fund’s internal control over financial reporting
and the quality, integrity and independent audit of the Fund’s financial statements.
The Committee also oversees or assists the Board with the oversight of compliance
with legal requirements relating to those matters, approves the engagement and
reviews the qualifications, independence and performance of the Fund’s
independent registered public accounting firm, acts as a liaison between the
independent registered public accounting firm and the Board and reviews the Fund’s
internal audit function. |
Seven |
Nominating |
G. Thomas Hough
Maureen Lally-Green
Thomas M. O’Neill
Madelyn A. Reilly
P. Jerome Richey
John S. Walsh |
The Nominating Committee, whose members consist of all Independent Trustees,
selects and nominates persons for election to the Fund’s Board when vacancies
occur. The Committee will consider candidates recommended by shareholders,
Independent Trustees, officers or employees of any of the Fund’s agents or service
providers and counsel to the Fund. Any shareholder who desires to have an
individual considered for nomination by the Committee must submit a
recommendation in writing to the Secretary of the Fund, at the Fund’s address
appearing on the back cover of this SAI. The recommendation should include the
name and address of both the shareholder and the candidate and detailed
information concerning the candidate’s qualifications and experience. In identifying
and evaluating candidates for consideration, the Committee shall consider such
factors as it deems appropriate. Those factors will ordinarily include: integrity,
intelligence, collegiality, judgment, diversity, skill, business and other experience,
qualification as an “Independent Trustee,” the existence of material relationships
which may create the appearance of a lack of independence, financial or accounting
knowledge and experience and dedication and willingness to devote the time and
attention necessary to fulfill Board responsibilities. |
Three |
Interested Board
Member Name |
Dollar Range of
Shares Owned in
Federated Hermes Corporate
Bond Strategy Portfolio |
Aggregate
Dollar Range of
Shares Owned in
Federated Hermes Family of
Investment Companies |
J. Christopher Donahue |
None |
Over $100,000 |
John B. Fisher |
None |
Over $100,000 |
Independent Board
Member Name |
|
|
G. Thomas Hough |
None |
Over $100,000 |
Maureen Lally-Green |
None |
Over $100,000 |
Thomas M. O’Neill |
None |
Over $100,000 |
Madelyn A. Reilly |
None |
Over $100,000 |
P. Jerome Richey |
None |
Over $100,000 |
John S. Walsh |
None |
Over $100,000 |
Types of Accounts Managed
by Jerome Conner |
Total Number of Additional Accounts
Managed/Total Assets* |
Registered Investment Companies |
5/$15.0 billion |
Other Pooled Investment Vehicles |
1/$335.2 million |
Other Accounts |
5/$841.2 million |
Types of Accounts Managed
by Brian Ruffner |
Total Number of Additional Accounts
Managed/Total Assets* |
|
Registered Investment Companies |
4/$3.0 billion |
|
Other Pooled Investment Vehicles |
1/$140.3 million |
|
Other Accounts |
5/$673.4 million |
|
Broker Dealer |
Amount of
Securities Owned |
Bank of America Corp.
Goldman Sachs Group, Inc.
Morgan Stanley |
$1,872,611
$1,727,162
$776,282 |
Administrative Services
Fee Rate |
Average Daily Net Assets
of the Investment Complex |
0.100% |
on assets up to $50 billion |
0.075% |
on assets over $50 billion |
Gross income from securities lending activities |
$49,699 |
Fees and/or compensation for securities lending activities and related services |
|
Fees paid to securities lending agent from a revenue split |
(642) |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included
in the revenue split |
— |
Administrative fees not included in revenue split |
— |
Indemnification fee not included in revenue split |
— |
Rebate (paid to borrower) |
(43,272) |
Other fees not included in revenue split (specify) |
— |
Aggregate fees/compensation for securities lending activities |
$(43,914) |
Net income from securities lending activities |
$5,785 |
Ticker FHYSX |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) |
i None |
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) |
i None |
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) |
i None |
Redemption Fee (as a percentage of amount redeemed, if applicable) |
i None |
Exchange Fee |
i None |
Management Fee |
i None |
Distribution (12b-1) Fee |
i None |
Other Expenses |
i 0.93% |
Acquired Fund Fees and Expenses |
i 0.04% |
Total Annual Fund Operating Expenses |
i 0.97% |
Fee Waivers and/or Expense Reimbursements1 |
( i 0.93)% |
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements |
i 0.04% |
1 Year |
$ i 4 |
3 Years |
$ i 13 |
5 Years |
$ i 23 |
10 Years |
$ i 51 |
Fund: |
1 Year |
5 Years |
10 Years |
Return Before Taxes |
i 13.96% |
i 5.32% |
i 4.84% |
Return After Taxes on Distributions |
i 10.95% |
i 2.69% |
i 2.05% |
Return After Taxes on Distributions and Sale of Fund Shares |
i 8.14% |
i 2.94% |
i 2.44% |
Bloomberg US Corporate High Yield 2% Issuer Capped Index1
(Reflects no deduction for fees, expenses or taxes) |
i 13.44% |
i 5.35% |
i 4.59% |
|
Year Ended December 31, | ||||
|
2022 |
2021 |
2020 |
2019 | |
Net Asset Value, Beginning of Period |
$10.88 |
$13.16 |
$13.18 |
$13.20 |
$12.21 |
Income From Investment Operations: |
|
|
|
|
|
Net investment income (loss)1 |
0.74 |
0.76 |
0.71 |
0.75 |
0.82 |
Net realized and unrealized gain (loss) |
0.72 |
(2.27) |
(0.01) |
(0.01) |
0.99 |
TOTAL FROM INVESTMENT OPERATIONS |
1.46 |
(1.51) |
0.70 |
0.74 |
1.81 |
Less Distributions: |
|
|
|
|
|
Distributions from net investment income |
(0.73) |
(0.77) |
(0.72) |
(0.76) |
(0.82) |
Net Asset Value, End of Period |
$11.61 |
$10.88 |
$13.16 |
$13.18 |
$13.20 |
Total Return2 |
13.96% |
(11.63)% |
5.40% |
6.04% |
15.10% |
Ratios to Average Net Assets: |
|
|
|
|
|
Net expenses3 |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Net investment income |
6.62% |
6.24% |
5.42% |
5.93% |
6.30% |
Expense waiver/reimbursement4 |
0.93% |
0.55% |
0.25% |
0.45% |
0.41% |
Supplemental Data: |
|
|
|
|
|
Net assets, end of period (000 omitted) |
$25,054 |
$15,889 |
$125,419 |
$95,707 |
$44,776 |
Portfolio turnover5 |
4% |
24% |
2% |
23% |
25% |
1 |
Per share numbers have been calculated using the average shares method. |
2 |
Based on net asset value. |
3 |
The Adviser has contractually agreed to reimburse all expenses of the Fund, excluding extraordinary expenses. Amount does not reflect net expenses incurred by
investment companies in which the Fund may invest. |
4 |
This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/
reimbursement recorded by investment companies in which the Fund may invest. |
5 |
Securities that mature are considered sales for purposes of this calculation. |
FEDERATED HERMES HIGH YIELD STRATEGY PORTFOLIO | |||||
ANNUAL EXPENSE RATIO: 0.04% | |||||
MAXIMUM FRONT-END SALES CHARGE: NONE | |||||
Year |
Hypothetical
Beginning
Investment |
Hypothetical
Performance
Earnings |
Investment
After
Returns |
Hypothetical
Expenses |
Hypothetical
Ending
Investment |
1 |
$10,000.00 |
$500.00 |
$10,500.00 |
$4.10 |
$10,496.00 |
2 |
$10,496.00 |
$524.80 |
$11,020.80 |
$4.30 |
$11,016.60 |
3 |
$11,016.60 |
$550.83 |
$11,567.43 |
$4.52 |
$11,563.02 |
4 |
$11,563.02 |
$578.15 |
$12,141.17 |
$4.74 |
$12,136.55 |
5 |
$12,136.55 |
$606.83 |
$12,743.38 |
$4.98 |
$12,738.52 |
6 |
$12,738.52 |
$636.93 |
$13,375.45 |
$5.22 |
$13,370.35 |
7 |
$13,370.35 |
$668.52 |
$14,038.87 |
$5.48 |
$14,033.52 |
8 |
$14,033.52 |
$701.68 |
$14,735.20 |
$5.75 |
$14,729.58 |
9 |
$14,729.58 |
$736.48 |
$15,466.06 |
$6.04 |
$15,460.17 |
10 |
$15,460.17 |
$773.01 |
$16,233.18 |
$6.34 |
$16,226.99 |
Cumulative |
|
$6,277.23 |
|
$51.47 |
|
Ticker FHYSX |
|
Contents |
1 |
|
1 |
|
12 |
|
18 |
|
20 |
|
22 |
|
25 |
|
25 |
|
25 |
|
25 |
|
26 |
|
26 |
|
41 |
|
41 |
|
46 |
|
47 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) for Past Five Years,
Other Directorships Held and Previous Position(s) |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Fund and
Federated Hermes Complex
(past calendar year) |
J. Christopher Donahue*
Birth Date: April 11, 1949
President andTrustee
Indefinite Term
Began serving: October 2005 |
Principal Occupations: Principal Executive Officer and President of certain
of the Funds in the Federated Hermes Complex; Director or Trustee of the
Funds in the Federated Hermes Complex; President, Chief Executive
Officer and Director, Federated Hermes, Inc.; Chairman and Trustee,
Federated Investment Management Company; Trustee, Federated
Investment Counseling; Chairman and Director, Federated Global
Investment Management Corp.; Chairman and Trustee, Federated Equity
Management Company of Pennsylvania; Trustee, Federated Shareholder
Services Company; Director, Federated Services Company.
Previous Positions: President, Federated Investment Counseling; President
and Chief Executive Officer, Federated Investment Management Company,
Federated Global Investment Management Corp. and Passport
Research, Ltd.; Chairman, Passport Research, Ltd. |
$0 |
$0 |
John B. Fisher*
Birth Date: May 16, 1956
Trustee
Indefinite Term
Began serving: May 2016 |
Principal Occupations: Principal Executive Officer and President of certain
of the Funds in the Federated Hermes Complex; Director or Trustee of
certain of the Funds in the Federated Hermes Complex; Director and Vice
President, Federated Hermes, Inc.; President, Director/Trustee and CEO,
Federated Advisory Services Company, Federated Equity Management
Company of Pennsylvania, Federated Global Investment Management
Corp., Federated Investment Counseling, Federated Investment
Management Company and Federated MDTA LLC; Director, Federated
Investors Trust Company.
Previous Positions: President and Director of the Institutional Sales
Division of Federated Securities Corp.; President and CEO of Passport
Research, Ltd.; Director and President, Technology, Federated
Services Company. |
$0 |
$0 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Other Directorships Held for
Past Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Fund and
Federated Hermes Complex
(past calendar year) |
G. Thomas Hough
Birth Date: February 28, 1955
Trustee
Indefinite Term
Began serving: August 2015 |
Principal Occupations: Director or Trustee and Chair of the Board of
Directors or Trustees of the Federated Hermes Complex; formerly,
Vice Chair, Ernst & Young LLP (public accounting firm) (Retired).
Other Directorships Held: Director, Chair of the Audit Committee,
Member of the Compensation Committee, Equifax, Inc.; Lead Director,
Member of the Audit and Nominating and Corporate Governance
Committees, Haverty Furniture Companies, Inc.; formerly, Director,
Member of Governance and Compensation Committees, Publix Super
Markets, Inc.
Qualifications: Mr. Hough has served in accounting, business management
and directorship positions throughout his career. Mr. Hough most recently
held the position of Americas Vice Chair of Assurance with Ernst &
Young LLP (public accounting firm). Mr. Hough serves on the President’s
Cabinet and Business School Board of Visitors for the University of
Alabama. Mr. Hough previously served on the Business School Board of
Visitors for Wake Forest University, and he previously served as an
Executive Committee member of the United States Golf Association. |
$230.70 |
$365,000 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Other Directorships Held for
Past Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Fund and
Federated Hermes Complex
(past calendar year) |
Maureen Lally-Green
Birth Date: July 5, 1949
Trustee
Indefinite Term
Began serving: August 2009 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; Adjunct Professor of Law, Emerita, Duquesne University School of
Law; formerly, Dean of the Duquesne University School of Law and
Professor of Law and Interim Dean of the Duquesne University School of
Law; formerly, Associate General Secretary and Director, Office of Church
Relations, Diocese of Pittsburgh.
Other Directorships Held: Director, CNX Resources Corporation
(natural gas).
Qualifications: Judge Lally-Green has served in various legal and business
roles and directorship positions throughout her career. Judge Lally-Green
previously held the position of Dean of the School of Law of Duquesne
University (as well as Interim Dean). Judge Lally-Green previously served as
Director of the Office of Church Relations and later as Associate General
Secretary for the Diocese of Pittsburgh, a member of the Superior Court of
Pennsylvania and as a Professor of Law, Duquesne University School of Law.
Judge Lally-Green was appointed by the Supreme Court of Pennsylvania
and previously served on the Supreme Court’s Board of Continuing Judicial
Education and the Supreme Court’s Appellate Court Procedural Rules
Committee. Judge Lally-Green was then appointed by the Supreme Court
of Pennsylvania and currently serves on the Judicial Ethics Advisory Board.
Judge Lally-Green also currently holds the positions on not for profit or for
profit boards of directors as follows: Director and Chair, UPMC Mercy
Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State
Board of Education (public); Director, Catholic Charities, Pittsburgh; and
Director, CNX Resources Corporation (natural gas). Judge Lally-Green has
held the positions of: Director, Auberle; Director, Epilepsy Foundation of
Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh;
Director, Saint Thomas More Society; Director and Chair, Catholic High
Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar
Institute; Director, Saint Vincent College; Director and Chair, North Catholic
High School, Inc.; Director and Vice Chair, Our Campaign for the Church
Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
$208.57 |
$330,000 |
Thomas M. O’Neill
Birth Date: June 14, 1951
Trustee
Indefinite Term
Began serving: August 2006 |
Principal Occupations: Director or Trustee and Chair of the Audit
Committee of the Federated Hermes Complex; Sole Proprietor, Navigator
Management Company (investment and strategic consulting).
Other Directorships Held: None.
Qualifications: Mr. O’Neill has served in several business, mutual fund and
financial management roles and directorship positions throughout his
career. Mr. O’Neill serves as Director, Medicines for Humanity. Mr. O’Neill
previously served as Chief Executive Officer and President, Managing
Director and Chief Investment Officer, Fleet Investment Advisors; President
and Chief Executive Officer, Aeltus Investment Management, Inc.; General
Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment
Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending
Officer, Fleet Bank; Director and Consultant, EZE Castle Software
(investment order management software); Director, Midway Pacific
(lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
$208.57 |
$330,000 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Other Directorships Held for
Past Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Fund and
Federated Hermes Complex
(past calendar year) |
Madelyn A. Reilly
Birth Date: February 2, 1956
Trustee
Indefinite Term
Began serving: November 2020 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; formerly, Senior Vice President for Legal Affairs, General Counsel
and Secretary of Board of Directors, Duquesne University (Retired).
Other Directorships Held: None.
Qualifications: Ms. Reilly has served in various business and legal
management roles throughout her career. Ms. Reilly previously served as
Senior Vice President for Legal Affairs, General Counsel and Secretary of
Board of Directors and Director of Risk Management and Associate General
Counsel, Duquesne University. Prior to her work at Duquesne University,
Ms. Reilly served as Assistant General Counsel of Compliance and
Enterprise Risk as well as Senior Counsel of Environment, Health and
Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board
of Directors of UPMC Mercy Hospital, and as a member of the Board of
Directors of Catholic Charities, Pittsburgh. |
$189.63 |
$300,000 |
P. Jerome Richey
Birth Date: February 23, 1949
Trustee
Indefinite Term
Began serving: October 2013 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; Retired; formerly, Senior Vice Chancellor and Chief Legal Officer,
University of Pittsburgh and Executive Vice President and Chief Legal
Officer, CONSOL Energy Inc. (split into two separate publicly traded
companies known as CONSOL Energy Inc. and CNX Resources Corp.).
Other Directorships Held: None.
Qualifications: Mr. Richey has served in several business and legal
management roles and directorship positions throughout his career.
Mr. Richey most recently held the positions of Senior Vice Chancellor and
Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as
Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and
Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey
previously served as Chief Legal Officer and Executive Vice President,
CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics
Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
$208.57 |
$330,000 |
John S. Walsh
Birth Date: November 28, 1957
Trustee
Indefinite Term
Began serving: November 2005 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; President and Director, Heat Wagon, Inc. (manufacturer of
construction temporary heaters); President and Director, Manufacturers
Products, Inc. (distributor of portable construction heaters); President,
Portable Heater Parts, a division of Manufacturers Products, Inc.
Other Directorships Held: None.
Qualifications: Mr. Walsh has served in several business management roles
and directorship positions throughout his career. Mr. Walsh previously
served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
$189.63 |
$300,000 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Previous Position(s) |
Lori A. Hensler
Birth Date: January 6, 1967
Treasurer
Officer since: April 2013 |
Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Complex; Senior Vice President,
Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer,
Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation.
Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors
Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services,
Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services
Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp.,
Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd. and Federated MDTA,
LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution
Services, Inc. |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Previous Position(s) |
Peter J. Germain
Birth Date: September 3, 1959
CHIEF LEGAL OFFICER,
SECRETARY and EXECUTIVE
VICE PRESIDENT
Officer since: October 2005 |
Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes
Complex. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee
and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative
Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities
Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company;
and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a
member of the Pennsylvania Bar Association.
Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes,
Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter
Birth Date: June 5, 1975
CHIEF COMPLIANCE OFFICER
AND SENIOR VICE PRESIDENT
Officer since: July 2015 |
Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Complex; Vice President
and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries.
Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66.
Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to
joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions
of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Robert J. Ostrowski
Birth Date: April 26, 1963
Chief Investment Officer
Officer since: September 2006 |
Principal Occupations: Robert J. Ostrowski joined Federated Hermes, Inc. in 1987 as an Investment Analyst and became a
Portfolio Manager in 1990. He was named Chief Investment Officer of Federated Hermes, Inc. taxable fixed-income products in
2004 and also serves as a Senior Portfolio Manager. Mr. Ostrowski became an Executive Vice President of the Fund’s Adviser in
2009 and served as a Senior Vice President of the Fund’s Adviser from 1997 to 2009. Mr. Ostrowski has received the Chartered
Financial Analyst designation. He received his M.S. in Industrial Administration from Carnegie Mellon University. |
Director/Trustee Emeritus |
Compensation
From Fund
(past fiscal year) |
Total
Compensation
Paid to
Director/Trustee
Emeritus1 |
John T. Collins2 |
$243.34 |
$385,000 |
Charles F. Mansfield, Jr. |
$2.25 |
$60,000 |
Board
Committee |
Committee
Members |
Committee Functions |
Meetings Held
During Last
Fiscal Year |
Executive |
J. Christopher Donahue
G. Thomas Hough
John S. Walsh |
In between meetings of the full Board, the Executive Committee generally may
exercise all the powers of the full Board in the management and direction of the
business and conduct of the affairs of the Trust in such manner as the Executive
Committee shall deem to be in the best interests of the Trust. However, the
Executive Committee cannot elect or remove Board members, increase or decrease
the number of Trustees, elect or remove any Officer, declare dividends, issue shares
or recommend to shareholders any action requiring shareholder approval. |
One |
Audit |
Maureen Lally-Green
Thomas M. O’Neill
P. Jerome Richey
John S. Walsh |
The purposes of the Audit Committee are to oversee the accounting and financial
reporting process of the Fund, the Fund’s internal control over financial reporting
and the quality, integrity and independent audit of the Fund’s financial statements.
The Committee also oversees or assists the Board with the oversight of compliance
with legal requirements relating to those matters, approves the engagement and
reviews the qualifications, independence and performance of the Fund’s
independent registered public accounting firm, acts as a liaison between the
independent registered public accounting firm and the Board and reviews the Fund’s
internal audit function. |
Seven |
Nominating |
G. Thomas Hough
Maureen Lally-Green
Thomas M. O’Neill
Madelyn A. Reilly
P. Jerome Richey
John S. Walsh |
The Nominating Committee, whose members consist of all Independent Trustees,
selects and nominates persons for election to the Fund’s Board when vacancies
occur. The Committee will consider candidates recommended by shareholders,
Independent Trustees, officers or employees of any of the Fund’s agents or service
providers and counsel to the Fund. Any shareholder who desires to have an
individual considered for nomination by the Committee must submit a
recommendation in writing to the Secretary of the Fund, at the Fund’s address
appearing on the back cover of this SAI. The recommendation should include the
name and address of both the shareholder and the candidate and detailed
information concerning the candidate’s qualifications and experience. In identifying
and evaluating candidates for consideration, the Committee shall consider such
factors as it deems appropriate. Those factors will ordinarily include: integrity,
intelligence, collegiality, judgment, diversity, skill, business and other experience,
qualification as an “Independent Trustee,” the existence of material relationships
which may create the appearance of a lack of independence, financial or accounting
knowledge and experience and dedication and willingness to devote the time and
attention necessary to fulfill Board responsibilities. |
Three |
Interested Board
Member Name |
Dollar Range of
Shares Owned in
Federated Hermes High Yield
Strategy Portfolio |
Aggregate
Dollar Range of
Shares Owned in
Federated Hermes Family of
Investment Companies |
J. Christopher Donahue |
None |
Over $100,000 |
John B. Fisher |
None |
Over $100,000 |
Independent Board
Member Name |
|
|
G. Thomas Hough |
None |
Over $100,000 |
Maureen Lally-Green |
None |
Over $100,000 |
Thomas M. O’Neill |
None |
Over $100,000 |
Madelyn A. Reilly |
None |
Over $100,000 |
P. Jerome Richey |
None |
Over $100,000 |
John S. Walsh |
None |
Over $100,000 |
Types of Accounts Managed
by Mark Durbiano |
Total Number of Additional Accounts
Managed/Total Assets* |
Additional Accounts/Assets Managed
that are Subject to Advisory Fee
Based on Account Performance |
Registered Investment Companies |
18/$13.0 billion |
0/$0 |
Other Pooled Investment Vehicles |
3/$385.1 million |
0/$0 |
Other Accounts |
6/$1.1 billion |
1/$149.4 million |
Types of Accounts Managed
by Kathryn P. Glass |
Total Number of Additional Accounts
Managed/Total Assets* |
|
Registered Investment Companies |
4/$9.0 billion |
|
Other Pooled Investment Vehicles |
2/$207.6 million |
|
Other Accounts |
3/$236.3 million |
|
Types of Accounts Managed
by Thomas Scherr |
Total Number of Additional Accounts
Managed/Total Assets* |
Additional Accounts/Assets Managed
that are Subject to Advisory Fee
Based on Account Performance |
Registered Investment Companies |
3/$8.9 billion |
0/$0 |
Other Pooled Investment Vehicles |
3/$385.1 million |
0/$0 |
Other Accounts |
2/$896.8 million |
1/$149.4 million |
Administrative Services
Fee Rate |
Average Daily Net Assets
of the Investment Complex |
0.100% |
on assets up to $50 billion |
0.075% |
on assets over $50 billion |
Gross income from securities lending activities |
$00.00 |
Fees and/or compensation for securities lending activities and related services |
|
Fees paid to securities lending agent from a revenue split |
$00.00 |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included in
the revenue split |
— |
Administrative fees not included in revenue split |
— |
Indemnification fee not included in revenue split |
— |
Rebate (paid to borrower) |
$00.00 |
Other fees not included in revenue split (specify) |
— |
Aggregate fees/compensation for securities lending activities |
$00.00 |
Net income from securities lending activities |
$00.00 |
Ticker FMBPX |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) |
i None |
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) |
i None |
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) |
i None |
Redemption Fee (as a percentage of amount redeemed, if applicable) |
i None |
Exchange Fee |
i None |
Management Fee |
i None |
Distribution (12b-1) Fee |
i None |
Other Expenses |
i 0.15% |
Acquired Fund Fees and Expenses |
i 0.02% |
Total Annual Fund Operating Expenses |
i 0.17% |
Fee Waivers and/or Expense Reimbursements1 |
( i 0.15)% |
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements |
i 0.02% |
1 Year |
$ i 2 |
3 Years |
$ i 6 |
5 Years |
$ i 11 |
10 Years |
$ i 26 |
Fund: |
1 Year |
5 Years |
10 Years |
Return Before Taxes |
i 5.18% |
i 0.52% |
i 1.62% |
Return After Taxes on Distributions |
i 3.39% |
( i 0.74)% |
i 0.35% |
Return After Taxes on Distributions and Sale of Fund Shares |
i 3.03% |
( i 0.11)% |
i 0.70% |
Bloomberg US Mortgage-Backed Securities Index1
(reflects no deduction for fees, expenses or taxes) |
i 5.05% |
i 0.25% |
i 1.38% |
|
Year Ended December 31, | ||||
|
2022 |
2021 |
2020 |
2019 | |
Net Asset Value, Beginning of Period |
$8.46 |
$9.85 |
$10.18 |
$9.98 |
$9.70 |
Income From Investment Operations: |
|
|
|
|
|
Net investment income (loss)1 |
0.36 |
0.27 |
0.22 |
0.27 |
0.32 |
Net realized and unrealized gain (loss) |
0.06 |
(1.40) |
(0.32) |
0.20 |
0.28 |
TOTAL FROM INVESTMENT OPERATIONS |
0.42 |
(1.13) |
(0.10) |
0.47 |
0.60 |
Less Distributions: |
|
|
|
|
|
Distributions from net investment income |
(0.35) |
(0.26) |
(0.22) |
(0.27) |
(0.32) |
Distributions from net realized gain |
— |
— |
(0.01) |
— |
— |
TOTAL DISTRIBUTIONS |
(0.35) |
(0.26) |
(0.23) |
(0.27) |
(0.32) |
Net Asset Value, End of Period |
$8.53 |
$8.46 |
$9.85 |
$10.18 |
$9.98 |
Total Return2 |
5.18% |
(11.54)% |
(0.94)% |
4.77% |
6.29% |
Ratios to Average Net Assets: |
|
|
|
|
|
Net expenses3 |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Net investment income |
4.31% |
3.01% |
2.21% |
2.68% |
3.26% |
Expense waiver/reimbursement4 |
0.15% |
0.17% |
0.21% |
0.23% |
0.24% |
Supplemental Data: |
|
|
|
|
|
Net assets, end of period (000 omitted) |
$907,240 |
$295,407 |
$171,828 |
$126,578 |
$120,793 |
Portfolio turnover5 |
1% |
11% |
14% |
43% |
7% |
1 |
Per share numbers have been calculated using the average shares method. |
2 |
Based on net asset value. |
3 |
The Adviser has contractually agreed to reimburse all expenses, excluding extraordinary expenses, incurred by the Fund. Amount does not reflect net expenses
incurred by investment companies in which the Fund may invest. |
4 |
This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/
reimbursement recorded by investment companies in which the Fund may invest. |
5 |
Securities that mature are considered sales for purposes of this calculation. |
FEDERATED HERMES MORTGAGE STRATEGY PORTFOLIO | |||||
ANNUAL EXPENSE RATIO: 0.02% | |||||
MAXIMUM FRONT-END SALES CHARGE: NONE | |||||
Year |
Hypothetical
Beginning
Investment |
Hypothetical
Performance
Earnings |
Investment
After
Returns |
Hypothetical
Expenses |
Hypothetical
Ending
Investment |
1 |
$10,000.00 |
$500.00 |
$10,500.00 |
$2.05 |
$10,498.00 |
2 |
$10,498.00 |
$524.90 |
$11,022.90 |
$2.15 |
$11,020.80 |
3 |
$11,020.80 |
$551.04 |
$11,571.84 |
$2.26 |
$11,569.64 |
4 |
$11,569.64 |
$578.48 |
$12,148.12 |
$2.37 |
$12,145.81 |
5 |
$12,145.81 |
$607.29 |
$12,753.10 |
$2.49 |
$12,750.67 |
6 |
$12,750.67 |
$637.53 |
$13,388.20 |
$2.61 |
$13,385.65 |
7 |
$13,385.65 |
$669.28 |
$14,054.93 |
$2.74 |
$14,052.26 |
8 |
$14,052.26 |
$702.61 |
$14,754.87 |
$2.88 |
$14,752.06 |
9 |
$14,752.06 |
$737.60 |
$15,489.66 |
$3.02 |
$15,486.71 |
10 |
$15,486.71 |
$774.34 |
$16,261.05 |
$3.17 |
$16,257.95 |
Cumulative |
|
$6,283.07 |
|
$25.74 |
|
Ticker FMBPX |
|
Contents |
1 |
|
1 |
|
9 |
|
11 |
|
13 |
|
16 |
|
19 |
|
19 |
|
19 |
|
19 |
|
20 |
|
20 |
|
35 |
|
35 |
|
40 |
|
41 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) for Past Five Years,
Other Directorships Held and Previous Position(s) |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Fund and
Federated Hermes Complex
(past calendar year) |
J. Christopher Donahue*
Birth Date: April 11, 1949
President and Trustee
Indefinite Term
Began serving: October 2005 |
Principal Occupations: Principal Executive Officer and President of certain
of the Funds in the Federated Hermes Complex; Director or Trustee of the
Funds in the Federated Hermes Complex; President, Chief Executive
Officer and Director, Federated Hermes, Inc.; Chairman and Trustee,
Federated Investment Management Company; Trustee, Federated
Investment Counseling; Chairman and Director, Federated Global
Investment Management Corp.; Chairman and Trustee, Federated Equity
Management Company of Pennsylvania; Trustee, Federated Shareholder
Services Company; Director, Federated Services Company.
Previous Positions: President, Federated Investment Counseling; President
and Chief Executive Officer, Federated Investment Management Company,
Federated Global Investment Management Corp. and Passport
Research, Ltd.; Chairman, Passport Research, Ltd. |
$0 |
$0 |
John B. Fisher*
Birth Date: May 16, 1956
Trustee
Indefinite Term
Began serving: May 2016 |
Principal Occupations: Principal Executive Officer and President of certain
of the Funds in the Federated Hermes Complex; Director or Trustee of
certain of the Funds in the Federated Hermes Complex; Director and Vice
President, Federated Hermes, Inc.; President, Director/Trustee and CEO,
Federated Advisory Services Company, Federated Equity Management
Company of Pennsylvania, Federated Global Investment Management
Corp., Federated Investment Counseling, Federated Investment
Management Company and Federated MDTA LLC; Director, Federated
Investors Trust Company.
Previous Positions: President and Director of the Institutional Sales
Division of Federated Securities Corp.; President and CEO of Passport
Research, Ltd.; Director and President, Technology, Federated
Services Company. |
$0 |
$0 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Other Directorships Held for
Past Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Fund and
Federated Hermes Complex
(past calendar year) |
G. Thomas Hough
Birth Date: February 28, 1955
Trustee
Indefinite Term
Began serving: August 2015 |
Principal Occupations: Director or Trustee and Chair of the Board of
Directors or Trustees of the Federated Hermes Complex; formerly,
Vice Chair, Ernst & Young LLP (public accounting firm) (Retired).
Other Directorships Held: Director, Chair of the Audit Committee,
Member of the Compensation Committee, Equifax, Inc.; Lead Director,
Member of the Audit and Nominating and Corporate Governance
Committees, Haverty Furniture Companies, Inc.; formerly, Director,
Member of Governance and Compensation Committees, Publix Super
Markets, Inc.
Qualifications: Mr. Hough has served in accounting, business management
and directorship positions throughout his career. Mr. Hough most recently
held the position of Americas Vice Chair of Assurance with Ernst &
Young LLP (public accounting firm). Mr. Hough serves on the President’s
Cabinet and Business School Board of Visitors for the University of
Alabama. Mr. Hough previously served on the Business School Board of
Visitors for Wake Forest University, and he previously served as an
Executive Committee member of the United States Golf Association. |
$470.69 |
$365,000 |
Maureen Lally-Green
Birth Date: July 5, 1949
Trustee
Indefinite Term
Began serving: August 2009 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; Adjunct Professor of Law, Emerita, Duquesne University School of
Law; formerly, Dean of the Duquesne University School of Law and
Professor of Law and Interim Dean of the Duquesne University School of
Law; formerly, Associate General Secretary and Director, Office of Church
Relations, Diocese of Pittsburgh.
Other Directorships Held: Director, CNX Resources Corporation
(natural gas).
Qualifications: Judge Lally-Green has served in various legal and business
roles and directorship positions throughout her career. Judge Lally-Green
previously held the position of Dean of the School of Law of Duquesne
University (as well as Interim Dean). Judge Lally-Green previously served as
Director of the Office of Church Relations and later as Associate General
Secretary for the Diocese of Pittsburgh, a member of the Superior Court of
Pennsylvania and as a Professor of Law, Duquesne University School of Law.
Judge Lally-Green was appointed by the Supreme Court of Pennsylvania
and previously served on the Supreme Court’s Board of Continuing Judicial
Education and the Supreme Court’s Appellate Court Procedural Rules
Committee. Judge Lally-Green was then appointed by the Supreme Court
of Pennsylvania and currently serves on the Judicial Ethics Advisory Board.
Judge Lally-Green also currently holds the positions on not for profit or for
profit boards of directors as follows: Director and Chair, UPMC Mercy
Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State
Board of Education (public); Director, Catholic Charities, Pittsburgh; and
Director, CNX Resources Corporation (natural gas). Judge Lally-Green has
held the positions of: Director, Auberle; Director, Epilepsy Foundation of
Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh;
Director, Saint Thomas More Society; Director and Chair, Catholic High
Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar
Institute; Director, Saint Vincent College; Director and Chair, North Catholic
High School, Inc.; Director and Vice Chair, Our Campaign for the Church
Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
$425.56 |
$330,000 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Other Directorships Held for
Past Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From Fund
(past fiscal year) |
Total Compensation
From Fund and
Federated Hermes Complex
(past calendar year) |
Thomas M. O’Neill
Birth Date: June 14, 1951
Trustee
Indefinite Term
Began serving: August 2006 |
Principal Occupations: Director or Trustee and Chair of the Audit
Committee of the Federated Hermes Complex; Sole Proprietor, Navigator
Management Company (investment and strategic consulting).
Other Directorships Held: None.
Qualifications: Mr. O’Neill has served in several business, mutual fund and
financial management roles and directorship positions throughout his
career. Mr. O’Neill serves as Director, Medicines for Humanity. Mr. O’Neill
previously served as Chief Executive Officer and President, Managing
Director and Chief Investment Officer, Fleet Investment Advisors; President
and Chief Executive Officer, Aeltus Investment Management, Inc.; General
Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment
Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending
Officer, Fleet Bank; Director and Consultant, EZE Castle Software
(investment order management software); Director, Midway Pacific
(lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
$425.56 |
$330,000 |
Madelyn A. Reilly
Birth Date: February 2, 1956
Trustee
Indefinite Term
Began serving: November 2020 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; formerly, Senior Vice President for Legal Affairs, General Counsel
and Secretary of Board of Directors, Duquesne University (Retired).
Other Directorships Held: None.
Qualifications: Ms. Reilly has served in various business and legal
management roles throughout her career. Ms. Reilly previously served as
Senior Vice President for Legal Affairs, General Counsel and Secretary of
Board of Directors and Director of Risk Management and Associate General
Counsel, Duquesne University. Prior to her work at Duquesne University,
Ms. Reilly served as Assistant General Counsel of Compliance and
Enterprise Risk as well as Senior Counsel of Environment, Health and
Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board
of Directors of UPMC Mercy Hospital, and as a member of the Board of
Directors of Catholic Charities, Pittsburgh. |
$386.87 |
$300,000 |
P. Jerome Richey
Birth Date: February 23, 1949
Trustee
Indefinite Term
Began serving: October 2013 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; Retired; formerly, Senior Vice Chancellor and Chief Legal Officer,
University of Pittsburgh and Executive Vice President and Chief Legal
Officer, CONSOL Energy Inc. (split into two separate publicly traded
companies known as CONSOL Energy Inc. and CNX Resources Corp.).
Other Directorships Held: None.
Qualifications: Mr. Richey has served in several business and legal
management roles and directorship positions throughout his career.
Mr. Richey most recently held the positions of Senior Vice Chancellor and
Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as
Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and
Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey
previously served as Chief Legal Officer and Executive Vice President,
CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics
Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
$425.56 |
$330,000 |
John S. Walsh
Birth Date: November 28, 1957
Trustee
Indefinite Term
Began serving: November 2005 |
Principal Occupations: Director or Trustee of the Federated Hermes
Complex; President and Director, Heat Wagon, Inc. (manufacturer of
construction temporary heaters); President and Director, Manufacturers
Products, Inc. (distributor of portable construction heaters); President,
Portable Heater Parts, a division of Manufacturers Products, Inc.
Other Directorships Held: None.
Qualifications: Mr. Walsh has served in several business management roles
and directorship positions throughout his career. Mr. Walsh previously
served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
$386.87 |
$300,000 |
Name
Birth Date
Positions Held with Trust
Date Service Began |
Principal Occupation(s) and Previous Position(s) |
Lori A. Hensler
Birth Date: January 6, 1967
Treasurer
Officer since: April 2013 |
Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Complex; Senior Vice President,
Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer,
Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation.
Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors
Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services,
Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services
Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp.,
Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd. and Federated MDTA,
LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution
Services, Inc. |
Peter J. Germain
Birth Date: September 3, 1959
CHIEF LEGAL OFFICER,
SECRETARY and EXECUTIVE
VICE PRESIDENT
Officer since: October 2005 |
Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes
Complex. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee
and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative
Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities
Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company;
and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a
member of the Pennsylvania Bar Association.
Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes,
Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter
Birth Date: June 5, 1975
CHIEF COMPLIANCE OFFICER
AND SENIOR VICE PRESIDENT
Officer since: July 2015 |
Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Complex; Vice President
and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries.
Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66.
Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to
joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions
of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Robert J. Ostrowski
Birth Date: April 26, 1963
Chief Investment Officer
Officer since: September 2006 |
Principal Occupations: Robert J. Ostrowski joined Federated Hermes, Inc. in 1987 as an Investment Analyst and became a
Portfolio Manager in 1990. He was named Chief Investment Officer of Federated Hermes, Inc. taxable fixed-income products in
2004 and also serves as a Senior Portfolio Manager. Mr. Ostrowski became an Executive Vice President of the Fund’s Adviser in
2009 and served as a Senior Vice President of the Fund’s Adviser from 1997 to 2009. Mr. Ostrowski has received the Chartered
Financial Analyst designation. He received his M.S. in Industrial Administration from Carnegie Mellon University. |
Principal Occupations: Stephen F. Auth is Chief Investment Officer of various Funds in the Federated Hermes Complex;
Executive Vice President, Federated Investment Counseling, Federated Global Investment Management Corp. and Federated
Equity Management Company of Pennsylvania.
Previous Positions: Executive Vice President, Federated Investment Management Company and Passport Research, Ltd.
(investment advisory subsidiary of Federated Hermes); Senior Vice President, Global Portfolio Management Services Division;
Senior Vice President, Federated Investment Management Company and Passport Research, Ltd.; Senior Managing Director and
Portfolio Manager, Prudential Investments. |
Director/Trustee Emeritus |
Compensation
From Fund
(past fiscal year) |
Total
Compensation
Paid to
Director/Trustee
Emeritus1 |
John T. Collins2 |
$496.50 |
$385,000 |
Charles F. Mansfield, Jr. |
$46.02 |
$60,000 |
Board
Committee |
Committee
Members |
Committee Functions |
Meetings Held
During Last
Fiscal Year |
Executive |
J. Christopher Donahue
G. Thomas Hough
John S. Walsh |
In between meetings of the full Board, the Executive Committee generally may
exercise all the powers of the full Board in the management and direction of the
business and conduct of the affairs of the Trust in such manner as the Executive
Committee shall deem to be in the best interests of the Trust. However, the
Executive Committee cannot elect or remove Board members, increase or decrease
the number of Trustees, elect or remove any Officer, declare dividends, issue shares
or recommend to shareholders any action requiring shareholder approval. |
One |
Audit |
Maureen Lally-Green
Thomas M. O’Neill
P. Jerome Richey
John S. Walsh |
The purposes of the Audit Committee are to oversee the accounting and financial
reporting process of the Fund, the Fund’s internal control over financial reporting
and the quality, integrity and independent audit of the Fund’s financial statements.
The Committee also oversees or assists the Board with the oversight of compliance
with legal requirements relating to those matters, approves the engagement and
reviews the qualifications, independence and performance of the Fund’s
independent registered public accounting firm, acts as a liaison between the
independent registered public accounting firm and the Board and reviews the Fund’s
internal audit function. |
Seven |
Board
Committee |
Committee
Members |
Committee Functions |
Meetings Held
During Last
Fiscal Year |
Nominating |
G. Thomas Hough
Maureen Lally-Green
Thomas M. O’Neill
Madelyn A. Reilly
P. Jerome Richey
John S. Walsh |
The Nominating Committee, whose members consist of all Independent Trustees,
selects and nominates persons for election to the Fund’s Board when vacancies
occur. The Committee will consider candidates recommended by shareholders,
Independent Trustees, officers or employees of any of the Fund’s agents or service
providers and counsel to the Fund. Any shareholder who desires to have an
individual considered for nomination by the Committee must submit a
recommendation in writing to the Secretary of the Fund, at the Fund’s address
appearing on the back cover of this SAI. The recommendation should include the
name and address of both the shareholder and the candidate and detailed
information concerning the candidate’s qualifications and experience. In identifying
and evaluating candidates for consideration, the Committee shall consider such
factors as it deems appropriate. Those factors will ordinarily include: integrity,
intelligence, collegiality, judgment, diversity, skill, business and other experience,
qualification as an “Independent Trustee,” the existence of material relationships
which may create the appearance of a lack of independence, financial or accounting
knowledge and experience and dedication and willingness to devote the time and
attention necessary to fulfill Board responsibilities. |
Two |
Interested Board
Member Name |
Dollar Range of
Shares Owned in
Federated Hermes
Mortgage Strategy Portfolio |
Aggregate
Dollar Range of
Shares Owned in
Federated Hermes Family of
Investment Companies |
J. Christopher Donahue |
None |
Over $100,000 |
John B. Fisher |
None |
Over $100,000 |
Independent Board
Member Name |
|
|
G. Thomas Hough |
None |
Over $100,000 |
Maureen Lally-Green |
None |
Over $100,000 |
Thomas M. O’Neill |
None |
Over $100,000 |
Madelyn A. Reilly |
None |
Over $100,000 |
P. Jerome Richey |
None |
Over $100,000 |
John S. Walsh |
None |
Over $100,000 |
Types of Accounts Managed
by Todd Abraham |
Total Number of Additional Accounts
Managed/Total Assets* |
Registered Investment Companies |
17/$6.5 billion |
Other Pooled Investment Vehicles |
0/$0 |
Other Accounts |
1/$51.1 million |
Types of Accounts Managed
by Liam O’Connell |
Total Number of Additional Accounts
Managed/Total Assets* |
Registered Investment Companies |
10/$7.6 billion |
Other Pooled Investment Vehicles |
0/$0 |
Other Accounts |
2/$107.2 million |
Administrative Services
Fee Rate |
Average Daily Net Assets
of the Investment Complex |
0.100% |
on assets up to $50 billion |
0.075% |
on assets over $50 billion |
Gross income from securities lending activities |
$00.00 |
Fees and/or compensation for securities lending activities and related services |
|
Fees paid to securities lending agent from a revenue split |
$00.00 |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash collateral reinvestment vehicle) that are not included in
the revenue split |
— |
Administrative fees not included in revenue split |
— |
Indemnification fee not included in revenue split |
— |
Rebate (paid to borrower) |
$00.00 |
Other fees not included in revenue split (specify) |
— |
Aggregate fees/compensation for securities lending activities |
$00.00 |
Net income from securities lending activities |
$00.00 |
Item 28. Exhibits
(a) | Declaration of Trust | |
Conformed copy of Amended and Restated Declaration of Trust of the Registrant dated October 3, 2005, including Amendments | + |
(b) | By-Laws | |
Conformed Copy of Amended and Restated By-Laws of the Registrant (effective June 26, 2020) including Amendments | + |
(c) | Not Applicable |
(d) | Investment Advisory Contracts | |
Federated Investment Management Company | ||
1 | Conformed copy of the Investment Advisory Contract of the Registrant dated December 1, 2005, including Exhibit A and Limited Power of Attorney dated June 1, 2007 | + |
Federated Equity Management Company of Pennsylvania | ||
2 | Conformed copy of the Investment Advisory Contract of the Registrant dated December 1, 2014, including Exhibit A and Limited Power of Attorney dated June 1, 2017 | + |
(e) | Underwriting Contracts | |
Conformed copy of the Distributor’s Contract of the Registrant dated December 1, 2005, including Exhibits | + |
(f) | Bonus or Profit Sharing Contracts | |
Not applicable |
(j) | Other Opinions | |
1 | Conformed copy of Consent of Independent Registered Public Accounting Firm, Ernst & Young (FCP, FHYSP, and FMSP) | + |
2 | Conformed copy of Consent of Independent Registered Public Accountant Firm, Ernst & Young (FIBSP) | N/A |
3 | Conformed copy of Consent of Independent Registered Public Accounting Firm, Ernst & Young (FIDSP) | N/A |
(k) | Omitted Financial Statements | |
Not Applicable |
(l) | Initial Capital Agreements | |
Conformed copy of Initial Capital Understanding, as filed in Pre-Effective Amendment No. 2 on June 6, 2006 on Form N-1A (File Nos. 333-128884 and 811-21822) |
(m) | Rule 12b-1 Plan | |
Not applicable |
(n) | Rule 18f-3 Plan | |
Not applicable |
(p) | Codes of Ethics | |
Conformed copy of the Federated Hermes, Inc. Code of Ethics for Access Persons, effective November 10, 2021 | + |
+ | Exhibit is being filed electronically with registration statement |
Exhibit List for Inline Interactive Data File Submission.
Index No. | Description of Exhibit |
EX-101.INS | XBRL Instance Document - Instance Document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document. |
EX-101.SCH | XBRL Taxonomy Extension Schema Document |
EX-101.CAL | XBRL Taxonomy Extension Calculation Linkbase |
EX-101.DEF | XBRL Taxonomy Extension Definition Linkbase |
EX-101.LAB | XBRL Taxonomy Extension Labels Linkbase |
EX-101.PRE | XBRL Taxonomy Extension Presentation Linkbase |
Item 29. Persons Controlled by or Under Common Control with the Fund: |
None |
Item 30. Indemnification |
Indemnification is provided to Officers and Trustees of the Registrant pursuant to the Registrant's By-Laws, as amended. This includes indemnification against: (a) any liabilities or expenses incurred in connection with the defense or disposition of any action, suit or proceeding in which an Officer or Trustee may be or may have been involved; and (b) any liabilities and expenses incurred by an Officer or Trustee as a result of having provided personally identifiable information to a regulator or counterparty by or with whom the Registrant (or its series, as applicable) is regulated or engages in business to satisfy a legal or procedural requirement of such regulator or counterparty. The Investment Advisory Contract, and Sub-advisory Agreement as applicable, (collectively, “Advisory Contracts”) between the Registrant and the investment adviser, and sub-adviser as applicable, (collectively, “Advisers”) of its series, provide that, in the absence of willful misfeasance, bad faith, gross negligence, or reckless disregard of the obligations or duties under the Advisory Contracts on the part of the Advisers, Advisers shall not be liable to the Registrant or to any shareholder for any act or omission in the course of or connected in any way with rendering services or for any losses that may be sustained in the purchase, holding, or sale of any security. The Registrant’s distribution contract contains provisions limiting the liability, and providing for indemnification, of the Officers and Trustees under certain circumstances. Registrant's Trustees and Officers are covered by an Investment Trust Errors and Omissions Policy. Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to Trustees, Officers, and controlling persons of the Registrant by the Registrant pursuant to the By-Laws, as amended, or otherwise, the Registrant is aware that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Act and, therefore, is unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by Trustees), Officers, or controlling persons of the Registrant in connection with the successful defense of any act, suit, or proceeding) is asserted by such Trustees, Officers, or controlling persons in connection with the shares being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issues. Insofar as indemnification for liabilities may be permitted pursuant to Section 17 of the Investment Company Act of 1940 for Trustees, Officers, and controlling persons of the Registrant by the Registrant pursuant to the By-Laws, as amended, or otherwise, the Registrant is aware of the position of the Securities and Exchange Commission as set forth in Investment Company Act Release No. IC-11330. Therefore, the Registrant undertakes that in addition to complying with the applicable provisions of the By-Laws, as amended, or otherwise, in the absence of a final decision on the merits by a court or other body before which the proceeding was brought, that an indemnification payment will not be made unless in the absence of such a decision, a reasonable determination based upon factual review has been made (i) by a majority vote of a quorum of non-party Trustees who are not interested persons of the Registrant or (ii) by independent legal counsel in a written opinion that the indemnitee was not liable for an act of willful misfeasance, bad faith, gross negligence, or reckless disregard of duties. The Registrant further undertakes that advancement of expenses incurred in the defense of a proceeding (upon undertaking for repayment unless it is ultimately determined that indemnification is appropriate) against an Officer, Trustee or controlling person of the Registrant will not be made absent the fulfillment of at least one of the following conditions: (i) the indemnitee provides security for his undertaking; (ii) the Registrant is insured against losses arising by reason of any lawful advances; or (iii) a majority of a quorum of disinterested non-party Trustees or independent legal counsel in a written opinion makes a factual determination that there is reason to believe the indemnitee will be entitled to indemnification. |
Item 31. Business and Other Connections of Investment Adviser: Federated Investment Management Company | |
For a description of the other business of the Investment Adviser, see the section entitled “Who Manages the Fund?” in Part A. The affiliations with the Registrant of two of the Trustees and two of the Officers of the Investment Adviser are included in Part B of this Registration Statement under "Who Manages and Provides Services to the Fund?" The remaining Trustees of the Investment Adviser and, in parentheses, their principal occupations are: Thomas R. Donahue, (Chief Financial Officer, Federated Hermes, Inc.), 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779, John B. Fisher, (Vice Chairman, Federated Hermes, Inc.) 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779 and James J. Gallagher, II, Partner, Morris James LLP, 500 Delaware Avenue, Suite 1500, Wilmington, DE 19801-1494. The business address of each of the Officers of the Investment Adviser is 1001 Liberty Avenue, Pittsburgh, Pennsylvania 15222-3779. These individuals are also officers of a majority of the Investment Advisers to the investment companies in the Federated Hermes Fund Complex described in Part B of this Registration Statement. | |
The Officers of the Investment Adviser are: | |
Chairman: | J. Christopher Donahue |
President/ Chief Executive Officer: | John B. Fisher |
Executive Vice Presidents: |
Deborah A. Cunningham Anne H. Kruczek Robert J. Ostrowski Timothy G. Trebilcock |
Senior Vice Presidents: |
Todd Abraham Jonathan C. Conley Mark E. Durbiano Donald T. Ellenberger Eamonn G. Folan Richard J. Gallo John T. Gentry Michael R. Granito Lori A. Hensler Susan R. Hill William R. Jamison Jeffrey A. Kozemchak Tracey L. Lusk Judith J. Mackin Marian R. Marinack Christopher P. McGinley Mary Jo Ochson Ihab Salib Michael W. Sirianni, Jr. Nicholas S. Tripodes Paige Wilhelm |
Vice Presidents: |
John Badeer Patrick D. Benacci Christopher S. Bodamer G. Andrew Bonnewell Hanan Callas David B. Catalane, Jr. Nicholas S. Cecchini James Chelmu Leslie Ciferno Jerome Conner Lee R. Cunningham, II Gregory Czamara, V B. Anthony Delserone, Jr. Jason DeVito Bryan Dingle Ann Ferentino Kevin M. Fitzpatrick Timothy P. Gannon Kathryn P. Glass James L. Grant Brandon Ray Hochstetler Nathan H. Kehm Allen J. Knizner Karen Manna Daniel James Mastalski Robert J. Matthews Karl Mocharko Joseph M. Natoli Nicholas Navari Gene Neavin Bob Nolte Liam O’Connell Bradley S. Payne John Polinski Rae Ann Rice Braden Rotberg Brian Ruffner Thomas C. Scherr John Scullion John Sidawi Paul Smith Peter Snook Kyle Stewart Randal Stuckwish Mary Ellen Tesla Frank Tetlow James Damen Thompson Anthony A. Venturino Mark Weiss George B. Wright Christopher Wu |
Assistant Vice Presidents: |
Patrick B. Cooper Quincy Hershey Christopher F. Hopkins Jeff J. Ignelzi Bennett L. Lo Natasha Nunez Steven J. Slanika Tyler R. Stenger Patrick O. Watson Michael S. Wilson John E. Wyda |
Secretary: | G. Andrew Bonnewell |
Assistant Secretaries: |
Edward C. Bartley Jonathan M. Lushko |
Treasurer: | Thomas R. Donahue |
Assistant Treasurers: |
Jeremy D. Boughton Richard A. Novak |
Chief Compliance Officer: | Stephen Van Meter |
Item 31. Business and Other Connections of Investment Adviser: Federated Equity Management Company | |
For a description of the other business of the Investment Adviser, see the section entitled “Who Manages the Fund?” in Part A. The affiliations with the Registrant of one of the Trustees and two of the Officers of the Investment Adviser are included in Part B of this Registration Statement under "Who Manages and Provides Services to the Fund?" The remaining Trustees of the Investment Adviser and, in parentheses, their principal occupations are: Thomas R. Donahue, (Chief Financial Officer, Federated Hermes, Inc.), 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779, John B. Fisher, (Vice Chairman, Federated Hermes, Inc.) 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779 and James J. Gallagher, II, Partner, Morris James LLP, 500 Delaware Avenue, Suite 1500, Wilmington, DE 19801-1494. The business address of each of the Officers of the Investment Adviser is 1001 Liberty Avenue, Pittsburgh, Pennsylvania 15222-3779. These individuals are also officers of a majority of the Investment Advisers to the investment companies in the Federated Hermes Fund Complex described in Part B of this Registration Statement. | |
The Officers of the Investment Adviser are: | |
Chairman | J. Christopher Donahue |
President/ Chief Executive Officer: | John B. Fisher |
Executive Vice President |
Stephen F. Auth Anne H. Kruczek Timothy G. Trebilcock |
Senior Vice Presidents: |
Deborah D. Bickerstaff Linda A. Duessel Michael R. Granito Stephen Gutch Lori A. Hensler Judith J. Mackin Dana L. Meissner Daniel Peris Michael R. Tucker |
Vice Presidents: |
P. Ryan Bend G. Andrew Bonnewell Jared Hoff Chad Hudson Michael Jura Damian McIntyre Ian Miller Brian Charles Smalley Paul Smith Frank Tetlow Eric Matthew Triplett |
Assistant Vice Presidents: | Adam Koser |
Secretary: | G. Andrew Bonnewell |
Assistant Secretaries: |
Edward C. Bartley Jonathan M. Lushko |
Treasurer: | Thomas R. Donahue |
Assistant Treasurers: | Jeremy
Boughton Richard A. Novak |
Chief Compliance Officer: | Stephen Van Meter |
Item 32. Principal Underwriters: | |
(a) | Federated Securities Corp., the Distributor for shares of the Registrant, acts as principal underwriter for the following investment companies, including the Registrant: |
Federated Hermes Adjustable Rate Securities Trust | |
Federated Hermes Adviser Series | |
Federated Hermes Core Trust | |
Federated Hermes Core Trust III | |
Federated Hermes ETF Trust | |
Federated Hermes Equity Funds | |
Federated Hermes Equity Income Fund, Inc. | |
Federated Hermes Fixed Income Securities, Inc. | |
Federated Hermes Global Allocation Fund | |
Federated Hermes Government Income Securities, Inc. | |
Federated Hermes Government Income Trust | |
Federated Hermes High Income Bond Fund, Inc. | |
Federated Hermes High Yield Trust | |
Federated Hermes Income Securities Trust | |
Federated Hermes Index Trust | |
Federated Hermes Institutional Trust | |
Federated Hermes Insurance Series | |
Federated Hermes Intermediate Municipal Trust | |
Federated Hermes International Series, Inc. | |
Federated Hermes Investment Series Funds, Inc. | |
Federated Hermes Managed Pool Series | |
Federated Hermes MDT Series | |
Federated Hermes Money Market Obligations Trust | |
Federated Hermes Municipal Bond Fund, Inc. | |
Federated Hermes Municipal Securities Income Trust | |
Federated Hermes Premier Municipal Income Fund | |
Federated Hermes Project and Trade Finance Tender Fund | |
Federated Hermes Short-Intermediate Duration Municipal Trust | |
Federated Hermes Short-Intermediate Government Trust | |
Federated Hermes Short-Term Government Trust | |
Federated Hermes Total Return Government Bond Fund | |
Federated Hermes Total Return Series, Inc. | |
Federated Hermes World Investment Series, Inc. |
(b) | ||
(1) Positions and Offices with Distributor |
(2) Name
|
(3) Positions and Offices With Registrant |
Executive Vice President, Assistant Secretary and Director: | Thomas R. Donahue | |
President and Director: | Paul Uhlman | |
Vice President and Director: | Peter J. Germain | |
Director: | Frank C. Senchak |
(1) Positions and Offices with Distributor |
(2) Name
|
(3) Positions and Offices With Registrant |
Executive Vice Presidents: |
Charles L. Davis, Jr. Peter W. Eisenbrandt Anne H. Kruczek Amy M. Michaliszyn Solon A. Person Brian S. Ronayne |
|
Senior Vice Presidents: |
Irving Anderson Jeff Antonacci Christopher D. Berg Daniel G. Berry Jack Bohnet Edwin J. Brooks, III Bryan Burke Daniel P. Casey Scott J. Charlton James S. Conely Stephen R. Cronin Michael DiMarsico Jack C. Ebenreiter James Getz, Jr. Erik Gosule Dayna C. Haferkamp Vincent L. Harper, Jr. Bruce E. Hastings Jeffrey S. Jones Ryan W. Jones Philip L. Judson Scott D. Kavanagh Michael Koenig Edwin C. Koontz Jane E. Lambesis Michael Liss Judith J. Mackin Paul J. Magan Brian McInis Diane Marzula Richard C. Mihm Vincent T. Morrow John C. Mosko Alec H. Neilly James E. Ostrowski Stephen Otto Mark B. Patsy Richard P. Paulson Diane M. Robinson Timothy A. Rosewicz Matt Ryan Tom Schinabeck Peter C. Siconolfi Edward L. Smith John R. Stanley John A. Staley Mark J. Strubel William C. Tustin David A. Wasik G. Walter Whalen Brian R. Willer Lewis C. Williams Theodore E. Williams Michael Wolff Daniel R. Wroble Erik Zettlemayer |
|
Vice Presidents: |
Frank Amato Catherine M. Applegate Jeff D. Aronsohn, Jr. Kenneth C. Baber Justin A. Bard Raisa E. Barkaloff Robert W. Bauman Marc Benacci Joshua W. Billiel Bill Boarts Zachary Bono Matthew A. Boyle Thomas R. Brown Ryan P. Cain Mark Carroll Dan Casey Edward R. Costello Stephen J. Costlow Mary Ellen Coyne David G. Dankmyer Christopher T. Davis Charles R. Ebbs Mark A. Flisek Heather W. Froelich Maya Gorokhovskiy (Ferd) David D. Gregoire Raymond J. Hanley George M. Hnaras Scott A. Holick Christopher Jackson Timothy H. Johnson Todd Jones Andrew R. Kehler Scott Robert Kelley Patrick Kelly Nicholas R. Kemerer Robert H. Kern Shawn E. Knutson Joseph R. Lantz John S. Larson Anthony W. Lennon Justin Levy John P. Liekar Jonathan Lipinski Alexi A. Maravel Thomas Andrew Marik Stephen R. Massey Meghan McAndrew Catherine McGee Samuel McGowan Daniel McGrath Mark J. Murphy Ryan M. Newman Catherine M. Nied Ted Noethling Mark Patsy Marcus Persichetti Luke Anthony Raffa Max E. Recker Emory Redd Melissa R. Ryan John Shrewsbury Bradley Smith Justin J. Slomkowski Jonathan Sullivan Gregory Tzanoukakis Scott A. Vallina James M. Wagner David Wasik Brian R. Willer Littell Wilson Jr. James J. Wojciak |
|
Assistant Vice Presidents: |
Debbie Adams-Marshall Courtney Comstock Adina Davis Christopher DiBartolomeo Madison Dischinger Michelle Ausefski Doyle Andrew Druckenbroad Lucie Gordon Elizabeth Krah Graner Kristen C. Kiesling Leah Kaitlin Leitzel Clara L. Matvey Jennifer M. McSorley John K. Murray Carol Anne Sheppard Laura Vickerman |
|
Secretary: | Kary A. Moore | |
Assistant Secretaries: | Edward C. Bartley | |
Thomas R. Donahue | ||
George F. Magera | ||
Treasurer: | Richard A. Novak | |
Assistant Treasurer: | Jeremy D. Boughton | |
Chief Compliance Officer: | Stephen Van Meter |
(c) | Not Applicable |
Item 33. Location of Accounts and Records: |
All accounts and records required to be maintained by Section 31(a) of the Investment Company Act of 1940 and Rules 31a-1 through 31a-3 promulgated thereunder and those records required to be maintained at one of the following locations: |
Registrant |
Federated Hermes Funds 4000 Ericsson Drive (Notices should be sent to the Agent for Service at the address listed on the facing page of this filing.) |
Federated Administrative Services (Administrator) |
1001 Liberty Avenue
|
Federated Securities Corp. (Distributor) |
1001 Liberty Avenue
|
Federated Investment Management Company (Adviser to Federated Hermes Corporate Bond Strategy Portfolio, Federated Hermes High-Yield Strategy Portfolio, Federated Hermes International Bond Strategy Portfolio and Federated Hermes Mortgage Strategy Portfolio) |
1001 Liberty Avenue |
Federated Equity Management Company of Pennsylvania (Adviser to Federated Hermes International Dividend Strategy Portfolio) |
1001 Liberty Avenue |
SS&C GIDS, Inc. (Transfer Agent and Dividend Disbursing Agent) |
P.O. Box 219318 |
State Street Bank and Trust Company (Custodian for Federated Hermes Corporate Bond Strategy Portfolio, Federated Hermes High-Yield Strategy Portfolio, and Federated Hermes Mortgage Strategy Portfolio) |
1 Iron Street |
Bank
of New York Mellon (Custodian for Federated Hermes International Bond Strategy Portfolio and Federated Hermes International Dividend Strategy Portfolio) |
One Wall Street
|
Item 34. Management Services: Not applicable. |
Item 35. Undertakings: |
Registrant hereby undertakes to comply with the provisions of Section 16(c) of the 1940 Act with respect to the removal of Trustees and the calling of special shareholder meetings by shareholders. |
SIGNATURES Pursuant to the requirements of the Securities Act of 1933, and the Investment Company Act of 1940, the Registrant, FEDERATED HERMES MANAGED POOL SERIES, certifies that it meets all of the requirements for effectiveness of this Amendment to its Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Pittsburgh and Commonwealth of Pennsylvania, on the 27th day of February 2024. | ||
FEDERATED HERMES MANAGED POOL SERIES | ||
BY: /s/ George F. Magera George F. Magera, Assistant Secretary | ||
Pursuant to the requirements of the Securities Act of 1933, this Amendment to its Registration Statement has been signed below by the following person in the capacity and on the date indicated: | ||
NAME | TITLE | DATE |
BY: /s/ George F. Magera George F. Magera, |
Attorney In Fact For the Persons Listed Below | February 27, 2024 |
J. Christopher Donahue* | President and Trustee (Principal Executive Officer) | |
John B. Fisher* | Trustee | |
Lori A. Hensler* | Treasurer (Principal Financial Officer/Principal Accounting Officer) | |
G. Thomas Hough* | Trustee | |
Maureen Lally-Green* | Trustee | |
Thomas M. O’Neill* | Trustee | |
Madelyn A. Reilly* | Trustee | |
P. Jerome Richey* | Trustee | |
John S. Walsh* | Trustee | |
*By Power of Attorney |
This ‘485BPOS’ Filing | Date | Other Filings | ||
---|---|---|---|---|
9/30/24 | ||||
2/29/24 | ||||
Effective on: | 2/28/24 | |||
Filed on: | 2/27/24 | N-CSR | ||
2/15/24 | ||||
2/7/24 | ||||
1/1/24 | ||||
12/31/23 | N-CSR, NPORT-P | |||
12/29/23 | 497J | |||
6/30/23 | N-CSRS, N-PX, NPORT-P | |||
9/30/22 | NPORT-P | |||
8/19/22 | ||||
6/30/22 | N-CSRS, N-PX, NPORT-P | |||
12/31/21 | 24F-2NT, N-CEN, N-CSR, N-CSR/A, NPORT-P | |||
2/25/21 | 485BPOS | |||
12/31/20 | 24F-2NT, N-CEN, N-CSR, NPORT-P | |||
6/30/20 | N-CSRS, N-PX, NPORT-P | |||
6/26/20 | ||||
3/31/20 | NPORT-P | |||
1/31/20 | NPORT-P | |||
12/31/17 | 24F-2NT, N-CSR, NSAR-B | |||
12/31/11 | 24F-2NT, N-CSR, NSAR-B | |||
9/7/08 | ||||
10/3/05 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/27/24 Federated Hermes Managed … Series N-CSR 12/31/23 3:5.6M Federated Admin… Svcs/FA 12/29/20 Federated Hermes Managed … Series 485BPOS 12/29/20 36:7.6M Federated Admin… Svcs/FA 6/06/06 Federated Hermes Managed … Series N-1A/A¶ 10:392K ReedSmith LLP |