PITTSBURGH, Aug. 23,
2024 /PRNewswire/ -- Federated Hermes, Inc. (NYSE:
FHI), a global leader in active investing, today announced that the
Federated Hermes ETF Trust, on behalf of its portfolio, Federated
Hermes MDT Large Cap Growth ETF (NYSE: FLCG), which seeks long-term
capital appreciation by investing primarily in common stocks of
large capitalization (large-cap) U.S. companies with higher
forecasted growth values relative to the market, has obtained
approval by majority shareholder consent action to change from a
diversified company to a non-diversified company.
The change was approved by written consent in lieu of a
shareholder meeting and no proxy or solicitation was necessary. The
change will take effect on or about Sept.
16, 2024.
The Fund pursues its investment objective, in part, by utilizing
an actively managed large cap growth approach by selecting most of
its investments from companies listed in the Russell 1000® Growth
Index (the "Index"), although the Fund is not designed to track the
overall composition or returns of the Index. The approved change to
the Fund's diversification classification is intended to provide
the Fund with greater long-term flexibility in executing its
investment objective at times when the weightings of individual
issuers in the Index exceed the diversification limits under the
Investment Company Act of 1940. The change in diversification
policy is not expected to substantially affect the Fund's pursuit
of its investment objective, rather enabling the Fund's adviser to
continue actively managing the Fund's investment strategy using the
Fund's quantitative model.
Investors can view fund and portfolio information in the
Products section of FederatedHermes.com/us.
Federated Hermes, Inc. (NYSE: FHI) is a global leader in active,
responsible investment management, with $782.7 billion in assets under management, as of
June 30, 2024. 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.
###
Certain statements in this press release, such as those related
to the effective date of the policy change, the intended purpose
behind the diversification policy change, and the intended effect
of the policy change on the Fund's principal investment strategies,
constitute or may 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 Fund to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements. Any
forward-looking statement, and the Fund's level of business
activity and financial results, are inherently subject to
significant business, market, economic, competitive, regulatory and
other risks and uncertainties, many of which are difficult to
predict and beyond the Fund's and its investment adviser's control.
Risks and uncertainties could vary significantly depending on
various factors, such as market conditions, investment performance
and investor behavior. Other risks and uncertainties include the
risk factors discussed in the Fund's registration statement,
including its prospectus and statement of additional information,
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 none of the Fund, its investment
adviser, or any other person assumes responsibility for the
accuracy and completeness, or updating, of such statements in the
future.
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.
Fund shares are bought and sold on an exchange at market price
(not NAV) and are not individually redeemed from the Fund. However,
shares may be redeemed at NAV directly by certain authorized
broker-dealers (Authorized Participants) in very large
creation/redemption units. Investors purchasing and selling at
market price may pay brokerage commissions which will reduce
returns. Market price returns are based on the official closing
price of an ETF share or, if the official closing price isn't
available, the midpoint between the national best bid and national
best offer ("NBBO") as of the time the ETF calculates the current
NAV per share. NAVs are calculated using prices as of 4 p.m. Eastern Time.
Federated Securities Corp., Distributor
View original
content:https://www.prnewswire.com/news-releases/federated-hermes-achieves-shareholder-approval-related-to-the-federated-hermes-mdt-large-cap-growth-etf-302229703.html
SOURCE Federated Hermes, Inc.