- Firm has longstanding tradition of vetting liquidity
portfolios for a volatile world
- Money Market Management launched in 1974
- Approximately $560 billion in
money market assets under management
PITTSBURGH, Jan. 16,
2024 /PRNewswire/ -- Federated Hermes, Inc. (NYSE:
FHI), a global leader in active, responsible investing, today
celebrates 50 years of money market innovations focused on
improving client experiences and investment outcomes. Over five
decades, Federated Hermes has maintained a steadfast dedication to
products and services that are vetted through diligent credit
analysis and broad diversification—providing clients with
competitive yields and daily liquidity.
"For 50 years, through seasons of volatility and calm, Federated
Hermes has confidently managed money market funds as the ballast in
our ship. Our team of investment management professionals has
maintained an unwavering focus on providing sound and innovative
cash management solutions for our clients," said
J. Christopher Donahue, president and chief executive officer.
"With an average of 25 years of investment experience, the
investment professionals on our liquidity team have provided
rigorous money market management through a variety of interest-rate
environments, regulatory changes, bull and bear economies and
changing geopolitical conditions."
On Jan. 16, 1974, the company
launched a mutual fund called Money Market Management. It was the
first fund name to include "money market," an asset class that has
grown to $6 trillion at the start of
2024. Federated Hermes managed approximately $560 billion in money market assets, as of
Dec. 31, 2023.
"For five decades, we have offered clients innovation,
creativity and experience navigating various market conditions with
the goal of making cash a resilient and attractive asset class,"
said Deborah A. Cunningham, chief
investment officer for global liquidity markets. "Even as the
current rate environment benefits our clients, we continue to
explore future innovations that could enhance the utility of money
markets for clients around the world."
Federated Hermes, Inc. is a global leader in active, responsible
investment management, with $715.0
billion in assets under management, as of Sept. 30, 2023. We deliver investment solutions
that help investors target a broad range of outcomes and provide
equity, fixed-income, alternative/private markets, multi-asset and
liquidity management strategies to more than 10,000 institutions
and intermediaries worldwide. Our clients include corporations,
government entities, insurance companies, foundations and
endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes has more than
2,000 employees in London,
New York, Boston and offices worldwide. For more
information, visit FederatedHermes.com/us.
###
Past performance is no guarantee of future results.
You could lose money by investing in a money market
fund. Although some money market funds seek to preserve the
value of your investment at $1.00 per
share, they cannot guarantee they will do so. An investment
in money market funds is not a bank account and is not insured or
guaranteed by the Federal Deposit Insurance Company or any other
government agency.
For more complete information, visit FederatedHermes.com/us
or contact your investment professional for summary prospectuses or
prospectuses. You should consider the fund's investment objectives,
risks, charges and expenses carefully before you invest.
Information about these and other important subjects is in the
fund's summary prospectus or prospectus, which you should read
carefully before investing. Prospectuses are available by calling
Federated Hermes at 1-800-341-7400 or by visiting
FederatedHermes.com/us.
Federated Securities Corp. Distributor
View original
content:https://www.prnewswire.com/news-releases/federated-hermes-inc-celebrates-50-years-of-money-market-innovation-302035662.html
SOURCE Federated Hermes, Inc.