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Federated Hermes, Inc. and Horizon Advisers complete transition of approximately $562 million in equity and fixed-income fund assets to Federated Hermes funds

Federated Hermes, Inc. and Horizon Advisers complete transition of approximately $562 million in equity and fixed-income fund assets to Federated Hermes funds

Federated Hermes, Inc. and Horizon Advisers complete transition of approximately $562 million in equity and fixed-income fund assets to Federated Hermes funds

PR Newswire

PITTSBURGH, Sept. 28, 2021

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
Small Cap Fund

$124

Federated Hermes MDT Small
Cap Core Fund

$1,127

Hancock Horizon Diversified
Income Fund

$34

Federated Hermes Capital
Income Fund

$1,002

Hancock Horizon Diversified
International Fund

$244

Federated Hermes International
Leaders Fund

$1,125

Hancock Horizon Dynamic Asset
Allocation Fund

$20

Federated Hermes Global
Allocation Fund

$411

Hancock Horizon International
Small Cap Fund

$27

Federated Hermes International
Small-Mid Company Fund

$198

Hancock Horizon Louisiana Tax-
Free Income Fund

$6

Federated Hermes Municipal
Bond Fund, Inc.

$321

Hancock Horizon Microcap Fund

$15

Federated Hermes MDT Small
Cap Core Fund

$1,127

Hancock Horizon Mississippi Tax-
Free Income Fund

$11

Federated Hermes Municipal
Bond Fund, Inc.

$321

Hancock Horizon Quantitative
Long/Short Fund

$81

Federated Hermes MDT Market
Neutral Fund**

$81


*As of Sept. 24, 2021

** Federated Hermes MDT Market Neutral Fund is being offered Sept. 27, 2021 with the completion of the
reorganization. The Federated Hermes MDT team has managed the market neutral strategy in a private fund
context for more than 20 years.

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.

###

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.