Premier Municipal Income Fund

ticker F M N Closed-End Funds . Muni National .


April 30 2024
$141.7 M
YTD Return NAV
April 30 2024
Fixed Income

Seeks current income exempt from federal income tax, including the alternative minimum tax (AMT), by investing in long-term, tax-exempt municipal bonds diversified among states, sectors and issuers.

Key Facts - Part 1
Symbol ticker F M N
Benchmark S&P Municipal Bond Index
Inception Market Price $15.00
Key Facts - Part 2
CUSIP 3 1 4 2 3 P 1 0 8
Performance Incp. Date December 20 2002
Inception NAV $14.33
Preferred Shares Credit Ratings (AA Fitch)
R.J. Gallo, CFA
Senior Vice President
Senior Portfolio Manager
Head of Municipal Bond Investment Group
Head of Duration Committee

joined Federated Hermes
30 years of experience
Lee Cunningham II
Vice President
Senior Portfolio Manager

joined Federated Hermes
29 years of experience









1 disclosure If this product is new, it will not have completed its first financial reporting period. Please check back to view future shareholder reports. For the new share of an existing fund, you may wish to view recent shareholder reports of another share of that fund by visiting another share.

The “As of Date” for regulatory documents  is the date when the document is effective with the SEC and made available on Federated Hermes' website.

2 disclosure Each fiscal quarter, the Fund will file with the SEC a complete schedule of its monthly portfolio holdings on “Form N-PORT.” The Fund’s holdings as of the end of the third month of every fiscal quarter, as reported on Form N-PORT, will be publicly available on the SEC’s website at within 60 days of the end of the fiscal quarter upon filing.

double dagger disclosure PDF file consists of a President's Message or Market Overview (if applicable) and Annual/Semi-Annual Shareholder Report. NOTE: To be sure you have the most recent information, please access both the Annual Report and the Semi-Annual Report.

Distributions and Taxes


Please note that total return data is not updated until approximately the eighth business day following a month-end.

The fund is a closed-end fund. Unlike open-end funds, closed-end funds are not continually offered. There is a one-time public offering and once issued, shares of closed-end funds are bought and sold in the open market. Consequently, shares of closed-end funds may trade at, above or below their net asset values (“NAV”). If a closed-end fund’s shares trade at a price below their NAV, they are said to be trading at a “discount.” Conversely, if a closed-end fund's shares trade at a price above their NAV, they are said to be trading at a “premium.” Shares of closed-end funds frequently trade at a discount.

Common Shares are only available for purchase and sale on the New York Stock Exchange at the current market price. Common Shares may trade at a discount to NAV.

The fund has Common Shares and Preferred Shares. The Pricing, Yield, Dividends, Fund History, Total Return and Premium/Discount of Market Price to NAV information provided herein relates to Common Shares only. Unlike Preferred Shares, Common Shares are not rated.

Total return represents the change in the value of an investment after reinvesting all income and capital gains.

30-Day Distribution Rate is calculated by taking the average of the past 30 days daily yields.

Funds are not bank deposits or obligations, are not guaranteed by any bank, and are not insured or guaranteed by the FDIC, the Federal Reserve Board, or any other government agency. Investment in funds involves risk, including possible loss of principal.

The fund is subject to fees and expenses, including management fees and other expenses, such as legal and accounting fees. Total returns reflect these fees.

The distribution rates and dividends quoted in this document are derived from income only.

The fund's issuance of Preferred Shares creates leverage risks for holders of Common Shares. Two major types of risks created by leverage include: (1) the likelihood of greater volatility of NAV and market price of Common Shares, because changes in the value of the fund's portfolio securities are borne entirely by holders of Common Shares; and (2) the possibility either that income available for Common Share dividends will fall if the Preferred Shares dividend rate rises, or that income available for Common Shares dividends will fluctuate because the Preferred Shares dividend rate varies.

The fund may invest up to 20% of its assets in non-investment grade securities that generally entail greater market, credit and liquidity risks than investment grade securities.

Income may be subject to state and local taxes.

Ratings are subject to change and do not remove market risk.

Credit quality pertains only to the securities in the fund's portfolio and does not protect fund shares against market risk.

Moody’s and Fitch ratings are based on asset coverage and preferred share basic maintenance amount  tests, as well as the experience, procedures and capabilities of the asset manager. Ratings are subject to change and do not remove market risk.

The ratings agencies that provided credit ratings are S&P Global, Moody's, and Fitch. When ratings vary, the highest rating is used. Credit ratings of A or better are considered to be high credit quality; credit ratings of BBB are good credit quality and the lowest category of investment grade; credit ratings BB and below are lower-rated securities ("junk bonds"); and credit ratings of CCC or below have high default risk.

Current and future portfolio holdings are subject to risk.

Effective Duration: A measure of a security’s price sensitivity to changes in interest rates. One of the methods of calculating the risk associated with interest rate changes on securities such as bonds.

Portfolio composition is subject to change. Holdings percentages are based on net assets at the close of business on the date, above, and may not necessarily reflect adjustments that are routinely made when presenting net assets for formal financial statement purposes.

Credit ratings pertain only to the securities in the portfolio and do not protect fund shares against market risk.

The yields and dividends quoted in this document are derived from income only.

Dividend yield at market price is an annualized number, calculated by multiplying the fund's most recent monthly dividend per share by 12 and then dividing by the month-end market price per share.

For additional information, including definitions of related terms and indexes, see the Financial Glossary and Benchmark Index Glossary.

Consult your investment professional for further information.

Federated Investment Management Company is the advisor to the fund.

Federated Securities Corp.

Not FDIC Insured
May Lose Value
No Bank Guarantee