You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon sale of your shares. 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.
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 will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the 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. The liquidity fee would be applied to all redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests.
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.
IMoneyNet MFR California Money Funds
Income may be subject to the federal alternative minimum tax (AMT) for individuals.
Prior to April 2, 2024, Rule 2a-7 required that money market funds maintain at least 30% weekly liquidity assets. Effective April 2, 2024, the weekly liquid assets threshold increased to 50%. The requirement is a “point of purchase” requirement. Thus, it is possible that money market funds may, at any given time, have liquidity percentages reflecting less than the weekly liquidity asset threshold. In such circumstances, the portfolio manager will be required to purchase securities to meet the requisite liquidity threshold prior to purchasing longer-dated securities. Additionally, the SEC requirements for what may be defined as “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.”
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.
Mutual funds are subject to risks and fluctuate in value.
Federated Securities Corp., Distributor
May Lose Value
No Bank Guarantee
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