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, and it is expected that a discretionary liquidity feewould be imposed, if at all, during periods of extraordinary market stress. 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.
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.
The investment adviser is waiving all or a portion of its management fee, or reimbursing certain operating expenses to the fund, pursuant to its investment advisory agreement with the fund. Shareholders must approve any change to this waiver. Although not contractually obligated to do so, certain fund service providers waived all or a portion of their fees. 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 Tax-Free Inst. Avg
The fund’s investment advisor normally will invest assets entirely in securities whose interest is not subject to (or not a specific preference item for purposes of) the AMT, such that, normally, distributions of annual interest income also are exempt from the AMT. However, in certain circumstances to pursue the fund’s investment objective, the Advisor may invest the fund’s assets in securities that may be subject to the AMT. In such circumstances, interest from the fund’s investments may be subject to the AMT. Consult your tax professional for more information.
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.
Product classifications noted at the top are Federated Hermes' internal classifications.
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.
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
1960888728