Intermediate Government Credit SMA

A composite comprised of separately managed account portfolios managed to the Bloomberg US Intermediate Government/Credit Index with full authorization to utilize Managed Account Pools (MAPs). MAPs are "zero" advisory fee mutual funds specifically designed for use with the Federated Hermes managed accounts. Generally, primary sector MAPs are used strategically, while secondary sector MAPs are used opportunistically. For this strategy, the corporate MAP is primary while mortgage, international and high yield are considered secondary. All portfolios utilize Federated Hermes' primary institutional fixed-income approach, a benchmark-driven process designed to add value through fundamental analysis with teams focused by sector to extract value from each step of the process - analysis of sector, yield curve, and security characteristics, and assessment of major long-term indicators of interest rate direction and volatility - within client-driven parameters that meet the above criteria.