Hermes investment management company Federated Hermes, Inc. (NYSE: FHI) was established in 1955, formerly known as Federated Investors, Inc. (formerly NYSE: FII), changed to its current name in February 2020, and headquartered in Pittsburgh, Pennsylvania , And has other offices in New York City and London, England, with 1,900 full-time employees, is a public asset management holding company.
Hermes Investment Management Federated Hermes, Inc. (FHI):
Hermes Investment Management Company (Federated Hermes) is an investment management company. The company was established in 1955 and was incorporated on October 18, 1957. As of December 31, 2019, the company managed US$557.9 billion in customer assets. The company offers 135 different types of mutual funds, covering stocks, fixed income, alternative/private markets, multi-asset and liquidity management strategies, and a series of separately managed account strategies. Clients include companies, government entities, insurance companies, foundations and donations, banks and brokers/distributors.
Hermès Investment Management provides services to individuals through its subsidiaries, including high-net-worth individuals, banks or savings institutions, investment companies, pension and profit sharing plans, collective investment vehicles, charitable organizations, state or city government entities, and registered investment advisors . Hermes Investment Management, through its subsidiaries, manages customer-centric independent stocks, fixed income, balance and money market mutual funds, and customer-centric independent stocks, fixed income, money market and balanced portfolios.
Through its subsidiaries, the company invests in public equity and fixed income markets around the world. It invests in growth and value stocks of small, medium and large companies. The company makes fixed-income investments in ultra-short, short and medium-term mortgage-backed US government, US corporations, high-yield and municipal securities. It uses fundamental analysis and quantitative analysis for equity investment.
Hermes Investment Management Federated Hermes, Inc. (FHI) History:
- In 1955, John F. Donahue, Richard B. Fisher and Thomas J. Donnelly founded Federated Investors.
- In 1982, Aetna acquired a majority stake in Federated Investors; at that time, Federated was managing nearly $30 billion in assets. In 1989, Federated management purchased Aetna’s shares for $345 million, re-establishing majority control of the company. In 1996, Federated management purchased the remaining 25% of the shares still held by Aetna for US$100 million.
- On May 14, 1998, Federated IPO was listed on the New York Stock Exchange.
- In 1991, Federated established Federated International Management Limited in Dublin, Ireland. This is a wholly-owned subsidiary and became the first American company whose registered money market funds were approved to be allocated to the European Community.
- In 1998, Federated established a joint venture with the insurance company LVM-Versicherungen Münster to provide Federated funds in Germany.
- In April 2012, Federated Investors, Inc. acquired Prime Rate Capital Management LLP (PRCM), a provider of institutional liquidity and fixed income products in London, England, from Matrix Group Limited.
- Federated Prime Rate Capital Management’s AAA liquidity fund (called a qualified money market fund) serves the corporate and institutional markets. The assets of these funds total approximately US$4 billion (£2.5 billion) and are rated AAA by Standard & Poor’s and Fitch.
- In July 2018, Federated Investors, Inc. acquired 60% of Hermes Fund Managers Limited (Hermes) from BT Pension Scheme (BTPS), which operates under the name of Hermes Investment Management (a pioneer in ESG integrated investment).
- In September 2019, Federated Investors announced that it had purchased approximately $4.4 billion in assets from Fifth Third Asset Management Inc.
- In February 2020, Federated Investors, Inc. changed its name to Federated Hermes, Inc. and announced an updated corporate image, focusing on its commitment to responsible investment to achieve financial performance. The company also changed its New York Stock Exchange (NYSE) stock code from FII to FHI, and the company’s common stock was traded under the FHI stock code for the first time on February 3, 2020.