Federated Hermes is a Pittsburgh-based active investment manager with ~$903B in assets — the largest independent US money-market fund provider, paired with London's Hermes for international equities, private markets and stewardship (EOS). About half its revenue comes from money-market funds, so its earnings rise and fall with Fed interest rates. The founding Donahue family keeps voting control through a special class of shares.
What Federated Hermes, Inc. really sells
Federated Hermes is a Pittsburgh-based active investment manager with ~$903B in assets — the largest independent US money-market fund provider, paired with London's Hermes for international equities, private markets and stewardship (EOS). About half its revenue comes from money-market funds, so its earnings rise and fall with Fed interest rates. The founding Donahue family keeps voting control through a special class of shares.