NYSE Arca
|
FDV
|
|
Since
Inception
3
|
NAV
|
-11.11%
|
Market Price
|
-10.58%
|
S&P 500
|
7.04%
|
Sector Composition
|
Percentage of
Total Net Assets
|
Utilities
|
18.8%
|
Consumer Staples
|
17.2%
|
Health Care
|
14.9%
|
Financials
|
10.9%
|
Industrials
|
8.0%
|
Energy
|
6.6%
|
Communication Services
|
6.3%
|
Consumer Discretionary
|
5.6%
|
Information Technology
|
5.2%
|
Materials
|
4.0%
|
Real Estate
|
1.9%
|
Other Assets and Liabilities—Net
2
|
0.6%
|
TOTAL
|
100%
|
1
|
Except for Other Assets and Liabilities, sector classifications are based upon, and individual
portfolio securities are assigned to, the classifications of the Global Industry Classification
Standard (GICS) except that the Adviser assigns a classification to securities not classified by the
GICS and to securities for which the Adviser does not have access to the classification made by
the GICS.
|
2
|
Assets, other than investments in securities, less liabilities. See Statement of Assets and
Liabilities.
|
Shares
|
|
|
Value
|
|
|
COMMON STOCKS— 99.4%
|
|
|
|
Communication Services— 6.3%
|
|
71,661
|
|
AT&T, Inc.
|
$
1,103,579
|
12,113
|
|
Comcast Corp., Class A
|
500,146
|
28,005
|
|
Interpublic Group of Cos., Inc.
|
795,342
|
49,576
|
|
Verizon Communications, Inc.
|
1,741,605
|
|
|
TOTAL
|
4,140,672
|
|
|
Consumer Discretionary— 5.6%
|
|
17,795
|
|
Best Buy Co., Inc.
|
1,189,062
|
3,606
|
|
Darden Restaurants, Inc.
|
524,781
|
2,672
|
|
Home Depot, Inc.
|
760,692
|
2,652
|
|
McDonald’s Corp.
|
695,275
|
5,392
|
|
Starbucks Corp.
|
497,358
|
|
|
TOTAL
|
3,667,168
|
|
|
Consumer Staples— 17.2%
|
|
6,572
|
|
Clorox Co.
|
773,525
|
45,325
|
|
Conagra Brands, Inc.
|
1,240,092
|
51,040
|
|
Kenvue, Inc.
|
949,344
|
17,615
|
|
Kimberly-Clark Corp.
|
2,107,459
|
5,426
|
|
PepsiCo, Inc.
|
885,957
|
24,752
|
|
Philip Morris International, Inc.
|
2,206,888
|
15,765
|
|
Target Corp.
|
1,746,604
|
23,262
|
|
The Coca-Cola Co.
|
1,314,070
|
|
|
TOTAL
|
11,223,939
|
|
|
Energy— 6.6%
|
|
8,444
|
|
Chevron Corp.
|
1,230,544
|
7,792
|
|
EOG Resources, Inc.
|
983,740
|
6,599
|
|
Exxon Mobil Corp.
|
698,504
|
40,142
|
|
Williams Cos., Inc.
|
1,380,885
|
|
|
TOTAL
|
4,293,673
|
|
|
Financials— 10.9%
|
|
66,154
|
|
Huntington Bancshares, Inc.
|
638,386
|
14,989
|
|
JPMorgan Chase & Co.
|
2,084,370
|
11,383
|
|
Morgan Stanley
|
806,144
|
13,832
|
|
PNC Financial Services Group, Inc.
|
1,583,349
|
41,160
|
|
Truist Financial Corp.
|
1,167,298
|
26,885
|
|
U.S. Bancorp
|
857,094
|
|
|
TOTAL
|
7,136,641
|
Shares
|
|
|
Value
|
|
|
COMMON STOCKS—
continued
|
|
|
|
Health Care— 14.9%
|
|
7,267
|
|
AbbVie, Inc.
|
$
1,025,955
|
10,242
|
|
Amgen, Inc.
|
2,618,879
|
16,079
|
|
Gilead Sciences, Inc.
|
1,262,845
|
10,812
|
|
Johnson & Johnson
|
1,603,852
|
13,840
|
|
Medtronic PLC
|
976,550
|
6,468
|
|
Merck & Co., Inc.
|
664,264
|
50,921
|
|
Pfizer, Inc.
|
1,556,146
|
|
|
TOTAL
|
9,708,491
|
|
|
Industrials— 8.0%
|
|
1,336
|
|
Lockheed Martin Corp.
|
607,399
|
4,974
|
|
MSC Industrial Direct Co.
|
471,287
|
8,436
|
|
Paychex, Inc.
|
936,818
|
17,301
|
|
Stanley Black & Decker, Inc.
|
1,471,450
|
12,302
|
|
United Parcel Service, Inc.
|
1,737,657
|
|
|
TOTAL
|
5,224,611
|
|
|
Information Technology— 5.2%
|
|
18,094
|
|
Cisco Systems, Inc.
|
943,240
|
45,580
|
|
Corning, Inc.
|
1,219,721
|
8,770
|
|
Texas Instruments, Inc.
|
1,245,428
|
|
|
TOTAL
|
3,408,389
|
|
|
Materials— 4.0%
|
|
95,636
|
|
Amcor PLC
|
850,204
|
19,754
|
|
LyondellBasell Industries N.V.
|
1,782,601
|
|
|
TOTAL
|
2,632,805
|
|
|
Real Estate— 1.9%
|
|
33,983
|
|
NNN REIT, Inc.
|
1,234,602
|
|
|
Utilities— 18.8%
|
|
16,827
|
|
American Electric Power Co., Inc.
|
1,271,112
|
38,669
|
|
Dominion Energy, Inc.
|
1,559,134
|
22,094
|
|
Duke Energy Corp.
|
1,963,936
|
9,065
|
|
Entergy Corp.
|
866,523
|
26,188
|
|
Evergy, Inc.
|
1,286,878
|
41,743
|
|
PPL Corp.
|
1,025,626
|
22,842
|
|
Public Service Enterprises Group, Inc.
|
1,408,209
|
31,083
|
|
Southern Co.
|
2,091,886
|
10,261
|
|
WEC Energy Group, Inc.
|
835,143
|
|
|
TOTAL
|
12,308,447
|
|
|
TOTAL INVESTMENT IN SECURITIES—99.4%
(IDENTIFIED COST $71,707,081)
1
|
64,979,438
|
|
|
OTHER ASSETS AND LIABILITIES - NET—0.6%
2
|
413,113
|
|
|
TOTAL NET ASSETS—100%
|
$
65,392,551
|
1
|
The cost of investments for federal tax purposes amounts to $71,764,817.
|
2
|
Assets, other than investments in securities, less liabilities. See Statement of Assets and
Liabilities.
|
The following acronym(s) are used throughout this portfolio:
|
|
|
REIT
|
—Real Estate Investment Trust
|
|
Period
Ended
10/31/2023
1
|
Net Asset Value, Beginning of Period
|
$25.16
|
Income From Investment Operations:
|
|
Net investment income
2
|
0.83
|
Net realized and unrealized gain (loss)
|
(3.57)
|
Total from Investment Operations
|
(2.74)
|
Less Distributions:
|
|
Distributions from net investment income
|
(0.69)
|
Net Asset Value, End of Period
|
$21.73
|
Total Return
3
|
(11.11)%
|
Ratios to Average Net Assets:
|
|
Net expenses
4
|
0.50%
5
|
Net investment income
|
3.60%
5
|
Expense waiver/reimbursement
6
|
0.12%
5
|
Supplemental Data:
|
|
Net assets, end of period (000 omitted)
|
$65,393
|
Portfolio turnover
7
|
35%
|
1
|
Reflects operations for the period from November 15, 2022 (commencement of operations) to
October 31, 2023.
|
2
|
Per share number has been calculated using the average shares method.
|
3
|
Based on net asset value. Total returns for periods of less than one year are not annualized.
|
4
|
Amount does not reflect net expenses incurred by investment companies in which the Fund
may invest.
|
5
|
Computed on an annualized basis.
|
6
|
This expense decrease is reflected in both the net expense and net investment income ratios
shown above. Amount does not reflect expense waiver/reimbursement recorded by investment
companies in which the Fund may invest.
|
7
|
Securities that mature are considered sales for purposes of this calculation.
|
Assets:
|
|
Investment in securities, at value
(identified cost $71,707,081)
|
$
64,979,438
|
Cash
|
446,727
|
Income receivable
|
143,064
|
Receivable for shares sold
|
107,882
|
Total Assets
|
65,677,111
|
Liabilities:
|
|
Income distribution payable
|
$
149,950
|
Payable for investments purchased
|
107,377
|
Payable for investment adviser fee (Note
5
)
|
16,419
|
Accrued expenses (Note
5
)
|
10,814
|
TOTAL LIABILITIES
|
284,560
|
Net assets for 3,010,000 shares outstanding
|
$
65,392,551
|
Net Assets Consist of:
|
|
Paid-in capital
|
$
75,080,535
|
Total distributable earnings (loss)
|
(9,687,984)
|
TOTAL NET ASSETS
|
$
65,392,551
|
Net Asset Value, Offering Price and Redemption Proceeds Per Share:
|
|
$65,392,551 ÷ 3,010,000 shares outstanding, no par value, unlimited shares authorized
|
$
21.73
|
Investment Income:
|
|
Dividends
|
$
1,855,513
|
Expenses:
|
|
Investment adviser fee (Note
5
)
|
270,310
|
Share registration costs
|
10,814
|
TOTAL EXPENSES
|
281,124
|
Waiver of investment adviser fee (Note
5
)
|
(53,651)
|
Net expenses
|
227,473
|
Net investment income
|
1,628,040
|
Realized and Unrealized Gain (Loss) on Investments and In-Kind Redemptions:
|
|
Net realized loss on investments
|
(3,127,629)
|
Net realized gain on in-kind redemptions
|
968,452
|
Net change in unrealized appreciation of investments
|
(6,727,643)
|
Net realized and unrealized gain (loss) on investments
|
(8,886,820)
|
Change in net assets resulting from operations
|
$
(7,258,780)
|
1
|
Reflects operations for the period from November 15, 2022 (commencement of operations) to
October 31, 2023.
|
|
Period
Ended
10/31/2023
1
|
Increase (Decrease) in Net Assets
|
|
Operations:
|
|
Net investment income
|
$
1,628,040
|
Net realized loss
|
(2,159,177)
|
Net change in unrealized appreciation/depreciation
|
(6,727,643)
|
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS
|
(7,258,780)
|
Distribution to Shareholders
|
(1,481,899)
|
Share Transactions:
|
|
Proceeds from sale of shares
|
82,547,570
|
Cost of shares redeemed
|
(8,414,340)
|
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS
|
74,133,230
|
Change in net assets
|
65,392,551
|
Net Assets:
|
|
Beginning of period
|
—
|
End of period
|
$
65,392,551
|
1
|
Reflects operations for the period from November 15, 2022 (commencement of operations) to
October 31, 2023.
|
|
Period Ended
10/31/2023
1
|
Shares sold
|
3,360,004
|
Shares issued to shareholders in payment of distributions declared
|
—
|
Shares redeemed
|
(350,004)
|
NET CHANGE RESULTING FROM FUND SHARE TRANSACTIONS
|
3,010,000
|
1
|
Reflects operations for the period from November 15, 2022 (commencement of operations) to
October 31, 2023.
|
Increase (Decrease)
|
|
Paid-In Capital
|
Total Distributable
Earnings (Loss)
|
$947,305
|
$
(947,305)
|
|
2023
|
Ordinary income
|
$
1,481,899
|
Undistributed ordinary income
|
$
146,141
|
Net unrealized depreciation
|
$
(6,785,379)
|
Capital loss carryforwards
|
$
(3,048,746)
|
TOTAL
|
$
(9,687,984)
|
Short-Term
|
Long-Term
|
Total
|
$3,048,746
|
$
—
|
$
3,048,746
|
Purchases
|
$
98,774,063
|
Sales
|
$
24,907,806
|
|
Beginning
Account Value
5/1/2023
|
Ending
Account Value
10/31/2023
|
Expenses Paid
During Period
1
|
Actual
|
$
1,000.00
|
$
901.50
|
$
2.40
|
Hypothetical (assuming a 5% return
before expenses)
|
$
1,000.00
|
$
1,022.68
|
$
2.55
|
1
|
Expenses are equal to the Fund’s annualized net expense ratio of 0.50%, multiplied by the
average account value over the period, multiplied by 184/365 (to reflect the
one-half-year period).
|
Name
Birth Date
Positions Held with Trust
Date Service Began
|
Principal Occupation(s) for Past Five Years,
Other Directorships Held and Previous Position(s)
|
J. Christopher Donahue*
Birth Date: April 11, 1949
President and Trustee
Indefinite Term
Began serving: February 2021
|
Principal Occupations
: Principal Executive Officer and President of
certain of the Funds in the Federated Hermes Fund Family; Director or
Trustee of the Funds in the Federated Hermes Fund Family; President,
Chief Executive Officer and Director, Federated Hermes, Inc.;
Chairman and Trustee, Federated Investment Management Company;
Trustee, Federated Investment Counseling; Chairman and Director,
Federated Global Investment Management Corp.; Chairman and
Trustee, Federated Equity Management Company of Pennsylvania;
Trustee, Federated Shareholder Services Company; Director,
Federated Services Company.
Previous Positions
: President, Federated Investment Counseling;
President and Chief Executive Officer, Federated Investment
Management Company, Federated Global Investment Management
Corp. and Passport Research, Ltd; Chairman, Passport Research, Ltd.
|
Name
Birth Date
Positions Held with Trust
Date Service Began
|
Principal Occupation(s) for Past Five Years,
Other Directorships Held and Previous Position(s)
|
Thomas R. Donahue*
Birth Date: October 20, 1958
Trustee
Indefinite Term
Began serving: February 2021
|
Principal Occupations
: Director or Trustee of certain of the funds in
the Federated Hermes Fund Family; Chief Financial Officer, Treasurer,
Vice President and Assistant Secretary, Federated Hermes, Inc.;
Chairman and Trustee, Federated Administrative Services; Chairman
and Director, Federated Administrative Services, Inc.; Trustee and
Treasurer, Federated Advisory Services Company; Director or Trustee
and Treasurer, Federated Equity Management Company of
Pennsylvania, Federated Global Investment Management Corp.,
Federated Investment Counseling, and Federated Investment
Management Company; Director, MDTA LLC; Director, Executive Vice
President and Assistant Secretary, Federated Securities Corp.;
Director or Trustee and Chairman, Federated Services Company and
Federated Shareholder Services Company; and Director and
President, FII Holdings, Inc.
Previous Positions
: Director, Federated Hermes, Inc.; Assistant
Secretary, Federated Investment Management Company, Federated
Global Investment Management Company and Passport Research,
LTD; Treasurer, Passport Research, LTD; Executive Vice President,
Federated Securities Corp.; and Treasurer, FII Holdings, Inc.
|
Name
Birth Date
Positions Held with Trust
Date Service Began
|
Principal Occupation(s) for Past Five Years,
Other Directorships Held, Previous Position(s) and Qualifications
|
John T. Collins
Birth Date: January 24, 1947
Trustee
Indefinite Term
Began serving: February 2021
|
Principal Occupations
: Director or Trustee, and Chair of the Board
of Directors or Trustees, of the Federated Hermes Fund Family;
formerly, Chairman and CEO, The Collins Group, Inc. (a private equity
firm) (Retired).
Other Directorships Held
: Director, KLX Energy Services Holdings,
Inc. (oilfield services); former Director of KLX Corp. (aerospace).
Qualifications
: Mr. Collins has served in several business and financial
management roles and directorship positions throughout his career.
Mr. Collins previously served as Chairman and CEO of The Collins
Group, Inc. (a private equity firm) and as a Director of KLX Corp.
Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins
previously served as Director and Audit Committee Member, Bank of
America Corp.; Director, FleetBoston Financial Corp.; and Director,
Beth Israel Deaconess Medical Center (Harvard University
Affiliate Hospital).
|
Name
Birth Date
Positions Held with Trust
Date Service Began
|
Principal Occupation(s) for Past Five Years,
Other Directorships Held, Previous Position(s) and Qualifications
|
G. Thomas Hough
Birth Date: February 28, 1955
Trustee
Indefinite Term
Began serving: February 2021
|
Principal Occupations
: Director or Trustee, Chair of the Audit
Committee of the Federated Hermes Fund Family; formerly, Vice
Chair, Ernst & Young LLP (public accounting firm) (Retired).
Other Directorships Held
: Director, Chair of the Audit Committee,
Equifax, Inc.; Lead Director, Member of the Audit and Nominating and
Corporate Governance Committees, Haverty Furniture Companies,
Inc.; formerly, Director, Member of Governance and Compensation
Committees, Publix Super Markets, Inc.
Qualifications
: Mr. Hough has served in accounting, business
management and directorship positions throughout his career.
Mr. Hough most recently held the position of Americas Vice Chair of
Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough
serves on the President’s Cabinet and Business School Board of
Visitors for the University of Alabama. Mr. Hough previously served on
the Business School Board of Visitors for Wake Forest University, and
he previously served as an Executive Committee member of the
United States Golf Association.
|
Maureen Lally-Green
Birth Date: July 5, 1949
Trustee
Indefinite Term
Began serving: February 2021
|
Principal Occupations
: Director or Trustee of the Federated Hermes
Fund Family; Adjunct Professor Emerita of Law, Duquesne University
School of Law; formerly, Dean of the Duquesne University School of
Law and Professor of Law and Interim Dean of the Duquesne
University School of Law; formerly, Associate General Secretary and
Director, Office of Church Relations, Diocese of Pittsburgh.
Other Directorships Held
: Director, CNX Resources Corporation
(natural gas).
Qualifications
: Judge Lally-Green has served in various legal and
business roles and directorship positions throughout her career. Judge
Lally-Green previously held the position of Dean of the School of Law
of Duquesne University (as well as Interim Dean). Judge Lally-Green
previously served as Associate General Secretary of the Diocese of
Pittsburgh, a member of the Superior Court of Pennsylvania and as a
Professor of Law, Duquesne University School of Law. Judge Lally-
Green was appointed by the Supreme Court of Pennsylvania to serve
on the Supreme Court’s Board of Continuing Judicial Education and
the Supreme Court’s Appellate Court Procedural Rules Committee.
Judge Lally-Green also currently holds the positions on not for profit
or for profit boards of directors as follows: Director and Chair, UPMC
Mercy Hospital; Regent, Saint Vincent Seminary; Member,
Pennsylvania State Board of Education (public); Director, Catholic
Charities, Pittsburgh; and Director CNX Resources Corporation
(natural gas). Judge Lally-Green has held the positions of: Director,
Auberle; Director, Epilepsy Foundation of Western and Central
Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint
Thomas More Society; Director and Chair, Catholic High Schools of
the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute;
Director, St. Vincent College; Director and Chair, North Catholic High
School, Inc.; Director and Vice Chair, Our Campaign for the Church
Alive!, Inc.; and Director and Vice Chair, Saint Francis University.
|
Name
Birth Date
Positions Held with Trust
Date Service Began
|
Principal Occupation(s) for Past Five Years,
Other Directorships Held, Previous Position(s) and Qualifications
|
Thomas M. O’Neill
Birth Date: June 14, 1951
Trustee
Indefinite Term
Began serving: February 2021
|
Principal Occupations
: Director or Trustee of the Federated Hermes
Fund Family; Sole Proprietor, Navigator Management Company
(investment and strategic consulting).
Other Directorships Held
: None.
Qualifications
: Mr. O’Neill has served in several business, mutual fund
and financial management roles and directorship positions throughout
his career. Mr. O’Neill serves as Director, Medicines for Humanity.
Mr. O’Neill previously served as Chief Executive Officer and President,
Managing Director and Chief Investment Officer, Fleet Investment
Advisors; President and Chief Executive Officer, Aeltus Investment
Management, Inc.; General Partner, Hellman, Jordan Management
Co., Boston, MA; Chief Investment Officer, The Putnam Companies,
Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director
and Consultant, EZE Castle Software (investment order management
software); Director, Midway Pacific (lumber); and Director, The
Golisano Children’s Museum of Naples, Florida.
|
Madelyn A. Reilly
Birth Date: February 2, 1956
Trustee
Indefinite Term
Began serving:
February 2021
|
Principal Occupations
: Director or Trustee of the Federated Hermes
Fund Family; formerly, Senior Vice President for Legal Affairs,
General Counsel and Secretary of Board of Directors, Duquesne
University (Retired).
Other Directorships Held
: None.
Qualifications
: Ms. Reilly has served in various business and legal
management roles throughout her career. Ms. Reilly previously served
as Senior Vice President for Legal Affairs, General Counsel and
Secretary of Board of Directors and Director of Risk Management and
Associate General Counsel, Duquesne University. Prior to her work at
Duquesne University, Ms. Reilly served as Assistant General Counsel
of Compliance and Enterprise Risk as well as Senior Counsel of
Environment, Health and Safety, PPG Industries. Ms. Reilly currently
serves as a member of the Board of Directors of UPMC
Mercy Hospital.
|
Name
Birth Date
Positions Held with Trust
Date Service Began
|
Principal Occupation(s) for Past Five Years,
Other Directorships Held, Previous Position(s) and Qualifications
|
P. Jerome Richey
Birth Date: February 23, 1949
Trustee
Indefinite Term
Began serving: February 2021
|
Principal Occupations
: Director or Trustee of the Federated Hermes
Fund Family; Retired; formerly, Senior Vice Chancellor and Chief Legal
Officer, University of Pittsburgh and Executive Vice President and
Chief Legal Officer, CONSOL Energy Inc. (now split into two separate
publicly traded companies known as CONSOL Energy Inc. and CNX
Resources Corp.).
Other Directorships Held
: None.
Qualifications
: Mr. Richey has served in several business and legal
management roles and directorship positions throughout his career.
Mr. Richey most recently held the positions of Senior Vice Chancellor
and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously
served as Chairman of the Board, Epilepsy Foundation of Western
Pennsylvania and Chairman of the Board, World Affairs Council of
Pittsburgh. Mr. Richey previously served as Chief Legal Officer and
Executive Vice President, CONSOL Energy Inc. and CNX Gas
Company; and Board Member, Ethics Counsel and Shareholder,
Buchanan Ingersoll & Rooney PC (a law firm).
|
John S. Walsh
Birth Date:
November 28, 1957
Trustee
Indefinite Term
Began serving: February 2021
|
Principal Occupations
: Director or Trustee of the Federated Hermes
Fund Family; President and Director, Heat Wagon, Inc. (manufacturer
of construction temporary heaters); President and Director,
Manufacturers Products, Inc. (distributor of portable construction
heaters); President, Portable Heater Parts, a division of Manufacturers
Products, Inc.
Other Directorships Held
: None.
Qualifications
: Mr. Walsh has served in several business management
roles and directorship positions throughout his career. Mr. Walsh
previously served as Vice President, Walsh & Kelly, Inc.
(paving contractors).
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Name
Birth Date
Address
Positions Held with Trust
Date Service Began
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Principal Occupation(s) for Past Five Years
and Previous Position(s)
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Lori A. Hensler
Birth Date: January 6, 1967
TREASURER
Officer since: February 2021
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Principal Occupations
: Principal Financial Officer and Treasurer of the
Federated Hermes Fund Family; Senior Vice President, Federated
Administrative Services; Financial and Operations Principal for
Federated Securities Corp.; and Assistant Treasurer, Federated
Investors Trust Company. Ms. Hensler has received the Certified
Public Accountant designation.
Previous Positions
: Controller of Federated Hermes, Inc.; Senior Vice
President and Assistant Treasurer, Federated Investors Management
Company; Treasurer, Federated Investors Trust Company; Assistant
Treasurer, Federated Administrative Services, Federated
Administrative Services, Inc., Federated Securities Corp., Edgewood
Services, Inc., Federated Advisory Services Company, Federated
Equity Management Company of Pennsylvania, Federated Global
Investment Management Corp., Federated Investment Counseling,
Federated Investment Management Company, Passport Research,
Ltd., and Federated MDTA, LLC; Financial and Operations Principal for
Federated Securities Corp., Edgewood Services, Inc. and Southpointe
Distribution Services, Inc.
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Peter J. Germain
Birth Date:
September 3, 1959
CHIEF LEGAL OFFICER,
SECRETARY and EXECUTIVE
VICE PRESIDENT
Officer since: February 2021
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Principal Occupations
: Mr. Germain is Chief Legal Officer, Secretary
and Executive Vice President of the Federated Hermes Fund Family.
He is General Counsel, Chief Legal Officer, Secretary and Executive
Vice President, Federated Hermes, Inc.; Trustee and Senior Vice
President, Federated Investors Management Company; Trustee and
President, Federated Administrative Services; Director and President,
Federated Administrative Services, Inc.; Director and Vice President,
Federated Securities Corp.; Director and Secretary, Federated Private
Asset Management, Inc.; Secretary, Federated Shareholder Services
Company; and Secretary, Retirement Plan Service Company of
America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a
member of the Pennsylvania Bar Association.
Previous Positions
: Deputy General Counsel, Special Counsel,
Managing Director of Mutual Fund Services, Federated Hermes, Inc.;
Senior Vice President, Federated Services Company; and Senior
Corporate Counsel, Federated Hermes, Inc.
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Stephen Van Meter
Birth Date: June 5, 1975
CHIEF COMPLIANCE
OFFICER AND SENIOR VICE
PRESIDENT
Officer since: February 2021
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Principal Occupations
: Senior Vice President and Chief Compliance
Officer of the Federated Hermes Fund Family; Vice President and
Chief Compliance Officer of Federated Hermes, Inc. and Chief
Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined
Federated Hermes, Inc. in October 2011. He holds FINRA licenses
under Series 3, 7, 24 and 66.
Previous Positions
: Mr. Van Meter previously held the position of
Compliance Operating Officer, Federated Hermes, Inc. Prior to joining
Federated Hermes, Inc., Mr. Van Meter served at the United States
Securities and Exchange Commission in the positions of Senior
Counsel, Office of Chief Counsel, Division of Investment Management
and Senior Counsel, Division of Enforcement.
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Name
Birth Date
Address
Positions Held with Trust
Date Service Began
|
Principal Occupation(s) for Past Five Years
and Previous Position(s)
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Robert J. Ostrowski
Birth Date: April 26, 1963
Chief Investment Officer
Officer since: February 2021
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Principal Occupations
: Robert J. Ostrowski joined Federated Hermes,
Inc. in 1987 as an Investment Analyst and became a Portfolio Manager
in 1990. He was named Chief Investment Officer of Federated
Hermes’ taxable fixed-income products in 2004 and also serves as a
Senior Portfolio Manager. Mr. Ostrowski became an Executive Vice
President of the Fund’s Adviser in 2009 and served as a Senior Vice
President of the Fund’s Adviser from 1997 to 2009. Mr. Ostrowski has
received the Chartered Financial Analyst designation. He received his
M.S. in Industrial Administration from Carnegie Mellon University.
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Brandon L. Clark
Birth Date:
November 28, 1974
VICE PRESIDENT
Officer since: February 2021
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Principal Occupations:
Brandon L. Clark is a Vice President of the
Trust. Mr. Clark joined Federated Hermes in July 2020 as a Senior Vice
President and Director, ETF Business, Federated Advisory Services
Company. Prior to joining Federated Hermes, Mr. Clark served as
Managing Director of Legg Mason’s ETF products and Head of ETF
Capital Markets with the Vanguard Group. Mr. Clark received his B.A.
in Economics from the University of Pittsburgh.
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