FEDERATED HERMES, INC. PITTSBURGH, Sept. 28, 2021 /PRNewswire/ -- Federated Hermes, Inc. (NYSE: FHI), a global leader in active, responsible investing, today announced the completion of the acquisition announced in April 2021 of certain investment management related assets of Horizon Advisers, an unincorporated division of Hancock Whitney Bank, and the transition of approximately $562 million1 in equity and fixed-income fund assets. The transition was accomplished by completing the reorganizations of the remaining nine Hancock Horizon mutual funds – seven equity and two municipal bond funds – into one new and six existing Federated Hermes mutual funds with comparable investment objectives and strategies (see below for a list of funds).
"The successful completion of this transaction is the result of Federated Hermes' experience with similar transactions, our client-centered approach and our long-term relationship with Hancock Whitney Bank," said Joe Machi, director of alliances at Federated Hermes. "The transaction provides the shareholders of the funds access to our diverse range of investment strategies, proven performance and extensive customer service capabilities. We continue to seek alliance and acquisition opportunities with insurers, banks, broker-dealers and investment advisors in the U.S. and globally."
The transition involved the following fund assets:
Hancock Horizon funds | Net assets (in millions)* |
Federated Hermes funds | Net assets (in millions)* |
Hancock Horizon Burkenroad | $124 | Federated Hermes MDT Small | $1,127 |
Hancock Horizon Diversified | $34 | Federated Hermes Capital | $1,002 |
Hancock Horizon Diversified | $244 | Federated Hermes International | $1,125 |
Hancock Horizon Dynamic Asset | $20 | Federated Hermes Global | $411 |
Hancock Horizon International | $27 | Federated Hermes International | $198 |
Hancock Horizon Louisiana Tax- | $6 | Federated Hermes Municipal | $321 |
Hancock Horizon Microcap Fund | $15 | Federated Hermes MDT Small | $1,127 |
Hancock Horizon Mississippi Tax- | $11 | Federated Hermes Municipal | $321 |
Hancock Horizon Quantitative | $81 | Federated Hermes MDT Market | $81 |
*As of Sept. 24, 2021 | |||
** Federated Hermes MDT Market Neutral Fund is being offered Sept. 27, 2021 with the completion of the | |||
Federated Hermes, Inc. is a leading global investment manager with $645.8 billion in assets under management as of June 30, 2021. Guided by our conviction that responsible investing is the best way to create wealth over the long term, our investment solutions span equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies. Providing world-class active investment management and engagement services to more than 11,000 institutions and intermediaries, our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes' nearly 2,000 employees include those in London, New York, Boston and offices worldwide. For more information, visit FederatedHermes.com.
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1As of Sept. 24, 2021
Certain statements in this press release, such as those related to performance and Federated Hermes' efforts to seek alliance and acquisition opportunities, constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the company or industry results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Among other risks and uncertainties is the ability of Federated Hermes to achieve positive performance and identify and complete suitable acquisitions, and the risk factors discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.
Federated Securities Corp. is distributor of the Federated Hermes funds.
Investors should carefully consider each fund's investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, contact Federated Hermes or view the prospectus provided at FederatedInvestors.com. Please carefully read the summary prospectus or prospectus before investing.
Past performance is no guarantee of future results.
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SOURCE Federated Hermes, Inc.
