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Name
Birth
Date
Positions
Held with Trust
Date
Service Began |
Principal
Occupation(s) for Past Five Years,
Other
Directorships Held and Previous Position(s) |
Aggregate
Compensation
From
Fund
(past
fiscal year) |
Total
Compensation
From
Fund and
Federated
Hermes Complex
(past
calendar year) |
J.
Christopher Donahue*
Birth
Date: April 11, 1949
President
and Trustee
Indefinite
Term
Began
serving: October 2005 |
Principal
Occupations:
Principal Executive Officer and President of certain
of
the Funds in the Federated Hermes Complex; Director or Trustee of the
Funds
in the Federated Hermes Complex; 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. |
$0 |
$0
|
Name
Birth
Date
Positions
Held with Trust
Date
Service Began |
Principal
Occupation(s) for Past Five Years,
Other
Directorships Held and Previous Position(s) |
Aggregate
Compensation
From
Fund
(past
fiscal year) |
Total
Compensation
From
Fund and
Federated
Hermes Complex
(past
calendar year) |
John
B. Fisher*
Birth
Date: May 16, 1956
Trustee
Indefinite
Term
Began
serving: May 2016 |
Principal
Occupations:
Principal Executive Officer and President of certain
of the
Funds in the Federated Hermes Complex; Director or Trustee of
certain
of the Funds in the Federated Hermes Complex; Director and Vice
President,
Federated Hermes, Inc.; President, Director/Trustee and CEO,
Federated
Advisory Services Company, Federated Equity Management
Company
of Pennsylvania, Federated Global Investment Management
Corp.,
Federated Investment Counseling, Federated Investment
Management
Company and Federated MDTA LLC; Director, Federated
Investors
Trust Company.
Previous
Positions:
President and Director of the Institutional Sales
Division
of Federated Securities Corp.; President and CEO of Passport
Research,
Ltd.; Director and President, Technology, Federated
Services
Company. |
$0 |
$0 |
Name
Birth
Date
Positions
Held with Trust
Date
Service Began |
Principal
Occupation(s) and Other Directorships Held for
Past
Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From
Fund
(past
fiscal year) |
Total
Compensation
From
Trust and
Federated
Hermes Complex
(past
calendar year) |
John
T. Collins
Birth
Date: January 24, 1947
Trustee
Indefinite
Term
Began
serving: October 2013 |
Principal
Occupations:
Director or Trustee and Chair of the Board of
Directors
or Trustees, of the Federated Hermes Complex; 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). |
$379.18 |
$385,000 |
G.
Thomas Hough
Birth
Date: February 28, 1955
Trustee
Indefinite
Term
Began
serving: August 2015 |
Principal
Occupations:
Director or Trustee, Chair of the Audit Committee
of the
Federated Hermes Complex; 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. |
$359.48 |
$365,000
|
Name
Birth
Date
Positions
Held with Trust
Date
Service Began |
Principal
Occupation(s) and Other Directorships Held for
Past
Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From
Fund
(past
fiscal year) |
Total
Compensation
From
Trust and
Federated
Hermes Complex
(past
calendar year) |
Maureen
Lally-Green
Birth
Date: July 5, 1949
Trustee
Indefinite
Term
Began
serving: August 2009 |
Principal
Occupations:
Director or Trustee of the Federated Hermes
Complex;
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 for 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, Saint 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. |
$325.02 |
$330,000 |
Thomas
M. O’Neill
Birth
Date: June 14, 1951
Trustee
Indefinite
Term
Began
serving: August 2006 |
Principal
Occupations:
Director or Trustee of the Federated Hermes
Complex;
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 |
$325.02 |
$330,000 |
Madelyn
A. Reilly
Birth
Date: February 2, 1956
Trustee
Indefinite
Term
Began
serving: November 2020 |
Principal
Occupations:
Director or Trustee of the Federated Hermes
Complex;
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. |
$295.48 |
$300,000
|
Name
Birth
Date
Positions
Held with Trust
Date
Service Began |
Principal
Occupation(s) and Other Directorships Held for
Past
Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation
From
Fund
(past
fiscal year) |
Total
Compensation
From
Trust and
Federated
Hermes Complex
(past
calendar year) |
P.
Jerome Richey
Birth
Date: February 23, 1949
Trustee
Indefinite
Term
Began
serving: October 2013 |
Principal
Occupations:
Director or Trustee of the Federated Hermes
Complex;
Retired; formerly, Senior Vice Chancellor and Chief Legal Officer,
University
of Pittsburgh and Executive Vice President and Chief Legal
Officer,
CONSOL Energy Inc. (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). |
$325.02 |
$330,000 |
John
S. Walsh
Birth
Date: November 28, 1957
Trustee
Indefinite
Term
Began
serving: November 2005 |
Principal
Occupations:
Director or Trustee of the Federated Hermes
Complex;
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). |
$295.48 |
$300,000 |
Name
Birth
Date
Positions
Held with Trust
Date
Service Began |
Principal
Occupation(s) and Previous Position(s) |
Lori
A. Hensler
Birth
Date: January 6, 1967
Treasurer
Officer
since: April 2013 |
Principal
Occupations:
Principal Financial Officer and Treasurer of the Federated Hermes Complex;
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. |
Peter
J. Germain
Birth
Date: September 3, 1959
CHIEF
LEGAL OFFICER,
SECRETARY
and EXECUTIVE
VICE
PRESIDENT
Officer
since: October 2005 |
Principal
Occupations:
Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President
of the Federated Hermes
Complex.
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. |
Stephen
Van Meter
Birth
Date: June 5, 1975
CHIEF
COMPLIANCE OFFICER
AND
SENIOR VICE PRESIDENT
Officer
since: July 2015 |
Principal
Occupations:
Senior Vice President and Chief Compliance Officer of the Federated Hermes
Complex; 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. |
Robert
J. Ostrowski
Birth
Date: April 26, 1963
Chief
Investment Officer
Officer
since: September 2006 |
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, Inc. 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. |
Stephen
F. Auth
Birth
Date: September 13, 1956
101
Park Avenue
41st
Floor
New
York, NY 10178
CHIEF
INVESTMENT OFFICER
Officer
since: February 2015 |
Principal
Occupations:
Stephen F. Auth is Chief Investment Officer of various Funds in the
Federated Hermes Complex;
Executive
Vice President, Federated Investment Counseling, Federated Global
Investment Management Corp. and Federated
Equity
Management Company of Pennsylvania.
Previous
Positions:
Executive Vice President, Federated Investment Management Company and
Passport Research, Ltd.
(investment
advisory subsidiary of Federated Hermes); Senior Vice President, Global
Portfolio Management Services Division;
Senior
Vice President, Federated Investment Management Company and Passport
Research, Ltd.; Senior Managing Director and
Portfolio
Manager, Prudential
Investments. |
Director/Trustee
Emeritus |
Compensation
From
Fund
(past
fiscal year) |
Total
Compensation
Paid
to
Director/Trustee
Emeritus1
|
Peter
E. Madden |
$25.67 |
$60,000.00 |
Charles
F. Mansfield, Jr. |
$25.67 |
$60,000.00 |
Board
Committee |
Committee
Members |
Committee
Functions |
Meetings
Held
During
Last
Fiscal
Year |
Executive |
J.
Christopher Donahue
John
T. Collins
G.
Thomas Hough |
In
between meetings of the full Board, the Executive Committee generally may
exercise
all the powers of the full Board in the management and direction of the
business
and conduct of the affairs of the Trust in such manner as the Executive
Committee
shall deem to be in the best interests of the Trust. However, the
Executive
Committee cannot elect or remove Board members, increase or decrease
the
number of Trustees, elect or remove any Officer, declare dividends, issue
shares
or
recommend to shareholders any action requiring shareholder
approval. |
One |
Audit |
G.
Thomas Hough
Maureen
Lally-Green
Thomas
M. O’Neill
P.
Jerome Richey |
The
purposes of the Audit Committee are to oversee the accounting and
financial
reporting
process of the Fund, the Fund’s internal control over financial reporting
and
the quality, integrity and independent audit of the Fund’s financial
statements.
The
Committee also oversees or assists the Board with the oversight of
compliance
with
legal requirements relating to those matters, approves the engagement and
reviews
the qualifications, independence and performance of the Fund’s
independent
registered public accounting firm, acts as a liaison between the
independent
registered public accounting firm and the Board and reviews the Fund’s
internal
audit function. |
Seven
|
Board
Committee |
Committee
Members |
Committee
Functions |
Meetings
Held
During
Last
Fiscal
Year |
Nominating |
John
T. Collins
G.
Thomas Hough
Maureen
Lally-Green
Thomas
M. O’Neill
Madelyn
A. Reilly
P.
Jerome Richey
John
S. Walsh |
The
Nominating Committee, whose members consist of all Independent Trustees,
selects
and nominates persons for election to the Fund’s Board when vacancies
occur.
The Committee will consider candidates recommended by shareholders,
Independent
Trustees, officers or employees of any of the Fund’s agents or service
providers
and counsel to the Fund. Any shareholder who desires to have an
individual
considered for nomination by the Committee must submit a
recommendation
in writing to the Secretary of the Fund, at the Fund’s address
appearing
on the back cover of this SAI. The recommendation should include the
name
and address of both the shareholder and the candidate and detailed
information
concerning the candidate’s qualifications and experience. In identifying
and
evaluating candidates for consideration, the Committee shall consider such
factors
as it deems appropriate. Those factors will ordinarily include: integrity,
intelligence,
collegiality, judgment, diversity, skill, business and other experience,
qualification
as an “Independent Trustee,” the existence of material relationships
which
may create the appearance of a lack of independence, financial or
accounting
knowledge
and experience and dedication and willingness to devote the time and
attention
necessary to fulfill Board responsibilities. |
One |
Interested
Board
Member
Name |
Dollar
Range of
Shares
Owned in
Federated
Hermes Corporate
Bond
Strategy Portfolio |
Aggregate
Dollar
Range of
Shares
Owned in
Federated
Hermes Family of
Investment
Companies* |
J.
Christopher Donahue |
None |
Over
$100,000 |
John
B. Fisher |
None |
Over
$100,000 |
Independent
Board
Member
Name |
|
|
John
T. Collins |
None |
Over
$100,000 |
G.
Thomas Hough |
None |
Over
$100,000 |
Maureen
Lally-Green |
None |
Over
$100,000 |
Thomas
M. O’Neill |
None |
Over
$100,000 |
Madelyn
A. Reilly |
None |
Over
$100,000 |
P.
Jerome Richey |
None |
Over
$100,000 |
John
S. Walsh |
None |
Over
$100,000 |
Types
of Accounts Managed
by
Jerome Conner |
Total
Number of Additional Accounts
Managed/Total
Assets* |
Registered
Investment Companies |
6/$12.1
billion |
Other
Pooled Investment Vehicles |
0/$0 |
Other
Accounts |
4/$84.5
million |
Types
of Accounts Managed
by
Brian Ruffner |
Total
Number of Additional Accounts
Managed/Total
Assets* |
|
Registered
Investment Companies |
4/$2.6
billion |
|
Other
Pooled Investment Vehicles |
0/$0 |
|
Other
Accounts |
3/$421.5
million |
|
Broker
Dealer |
Amount
of
Securities
Owned |
Morgan
Stanley |
$756,978
|
Administrative
Services
Fee
Rate |
Average
Daily Net Assets
of
the Investment Complex |
0.100% |
on
assets up to $50 billion |
0.075% |
on
assets over $50 billion |
Gross
income from securities lending activities |
$18,777 |
Fees
and/or compensation for securities lending activities and related
services |
|
Fees
paid to securities lending agent from a revenue
split |
(294) |
Fees
paid for any cash collateral management service (including fees deducted
from a pooled cash collateral reinvestment vehicle) that are not included
in
the revenue split |
— |
Administrative
fees not included in revenue split |
— |
Indemnification
fee not included in revenue split |
— |
Rebate
(paid to borrower) |
(15,838) |
Other
fees not included in revenue split (specify) |
— |
Aggregate
fees/compensation for securities lending activities |
$(16,132) |
Net
income from securities lending activities |
$2,645 |