Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board or its delegate that such a liquidity fee is in the Fund’s best interests. Such determination, including the timing of the application of the liquidity fee, will be based on the current market conditions and the Fund’s particular circumstances. If the Fund’s Board, including a majority of the independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund may impose discretionary liquidity fees not to exceed 2% of the value of the shares redeemed. Effective, October 2, 2024, pursuant to rule 2a-7, the Fund is required to impose a mandatory liquidity fee when the Fund experiences daily net redemptions that exceed 5% of net assets based on flow information available within a reasonable period after the last computation of the Fund’s net asset value on that calendar day. The Fund will not be required to apply a mandatory liquidity fee if the amount of the fee is less than 0.01% of the value of the shares redeemed, which is anticipated to be the case under normal market conditions.
The value of some asset-backed securities may be particularly sensitive to changes in prevailing interest rates, and although the securities are generally supported by some form of government or private guarantee and/or insurance, there is no assurance that private guarantors or insurers will meet their obligations.
You could lose money by investing in the Fund. Because the share price of the Fund will fluctuate, when you sell your shares, they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon sale of your shares. The Fund generally must impose a fee when net sales of Fund shares exceed certain levels. An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.
Although not contractually obligated to do so, the adviser and/or certain fund service providers waived all or a portion of their fees or reimbursed the fund for certain operating expenses. These voluntary waivers and reimbursements may be modified or terminated at any time; accordingly, the fund's expenses may vary (i.e., increase or decrease) during the fund's fiscal year. These waivers increase income to the fund and result in a higher return to investors.
Total return represents the change in value of an investment after reinvesting all income and capital gains.
Yield quotations more closely reflect the current earnings of the fund than the total return quotation.
Total returns for periods of less than one year are cumulative.
Benchmark: iMoneyNet MFR Taxable Inst. Current Avg
Ratings are based on an evaluation of several factors, including credit quality, diversification and maturity of assets in the portfolio, as well as management strength and operational capabilities. Ratings are subject to change and do not remove market risk.
A money market fund rated AAAm by S&P Global is granted after evaluating a number of factors, including credit quality, market price, exposure and management. Fitch’s money market fund ratings are an assessment of a money market fund’s capacity to preserve principal and provide liquidity through limiting credit, market and liquidity risk. For more information on credit ratings, visit spglobal.com and fitchratings.com.
The daily and weekly liquid assets thresholds are 25% and 50%, respectively. Both requirements are “point of purchase” requirements. Thus, it is possible that money market funds may, at any given time, have liquidity percentages reflecting less than the daily and weekly liquidity asset thresholds. In such circumstances, the portfolio manager will be required to purchase securities to meet the requisite liquidity thresholds prior to purchasing longer-dated securities. Additionally, the SEC requirements for what may be defined as “daily” and “weekly” differs from the standard maturities used in calculating the “Effective Maturity Schedule.” Therefore, the percentages in the 2a-7 Liquidity table will generally not equal the amounts shown in the “Effective Maturity Schedule.”
The fund is a managed portfolio and its holdings are 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.
Current and future portfolio holdings are subject to risk.
Product classifications noted at the top are Federated Hermes' internal classifications.
Investors should carefully consider the fund's investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, contact us or view the prospectus provided on this website. Please carefully read the summary prospectus or prospectus before investing.
Federated Securities Corp., Distributor
May Lose Value
No Bank Guarantee
2187263827