ADDED
The obligation to make purchase price payments in connection with acquisitions is subject to certain adjustments and conditions, and the obligation to make contingent payments is based on net revenue levels or other financial thresholds, and will be affected by the achievement of such levels and thresholds.
Federated Hermes also provides stewardship services to customers seeking a range of solutions for engagement, as well as real estate development and renewable energy project development services.
In addition, Federated Hermes markets and provides stewardship, real estate development and renewable energy project development services to various domestic and international customers.
The Federated Hermes Funds are domiciled in the U.S., as well as Ireland, the United Kingdom (U.K.), Luxembourg, Guernsey, Jersey, Australia and the Cayman Islands.
In general, new advisory agreements for new U.S.-domiciled registered funds and material amendments to such advisory agreements must be approved by a fund s shareholders.
Of the 176 Federated Hermes Funds, Federated Hermes investment advisory subsidiaries managed as of December 31, 2025, 22 money market funds with $508.4 billion in AUM, 46 equity funds with $55.0 billion in AUM, 52 fixed-income funds with $46.0 billion in AUM, 51 alternative/private markets funds with $12.1 billion in AUM and five multi-asset funds with $2.9 billion in AUM.
As of December 31, 2025, Federated Hermes provided investment strategies to $278.3 billion in Separate Account assets.
Each distribution plan and agreement is 5 initially approved by the directors or trustees of the respective fund (and, as required by law, a fund s shareholders) and is reviewed for approval by such directors or trustees annually as required under applicable law.
2024 dollars in millions 2025 2024 Equity $ 97,898 $ 79,423 23 % Fixed-Income 100,127 98,059 2 Alternative / Private Markets 19,101 18,864 1 Multi-Asset 2,854 2,883 (1) Total Long-Term Assets 219,980 199,229 10 Money Market 682,604 630,349 8 Total Managed Assets $ 902,584 $ 829,578 9 % Average managed assets represent the average balance of AUM during a period of time.
2023 dollars in millions 2025 2024 2023 Equity $ 88,627 $ 79,893 $ 81,348 11 % (2) % Fixed-Income 99,446 96,773 89,079 3 9 Alternative / Private Markets 19,474 20,250 21,096 (4) (4) Multi-Asset 2,853 2,902 2,887 (2) 1 Total Long-Term Assets 210,400 199,818 194,410 5 3 Money Market 643,025 588,653 511,568 9 15 Total Average Managed Assets $ 853,425 $ 788,471 $ 705,978 8 % 12 % Changes in Federated Hermes average asset mix year-over-year across both asset classes and offering types have a direct impact on Federated Hermes operating income.
REMOVED
The obligation to make purchase price payments in connection with acquisitions is subject to certain adjustments and conditions, and the obligation to make contingent payments is based on net revenue levels and will be affected by the achievement of such levels.
Federated Hermes also provides stewardship services to customers seeking a range of solutions for engagement, as well as real estate development services.
In addition, Federated Hermes markets and provides stewardship and real estate development services to various domestic and international customers.
The Federated Hermes Funds are domiciled in the U.S., as well as Ireland, the United Kingdom (UK), Luxembourg, Guernsey, Jersey and the Cayman Islands.
In general, material amendments to such advisory agreements must be approved by a fund s shareholders.
Of the 176 Federated Hermes Funds, Federated Hermes investment advisory subsidiaries managed as of December 31, 2024, 22 money market funds with $461.7 billion in AUM, 45 equity funds with $43.8 billion in AUM, 54 fixed-income funds with $45.6 billion in AUM, 50 alternative/private markets funds with $11.5 billion in AUM and five multi-asset funds with $2.8 billion in AUM.
As of December 31, 2024, Federated Hermes provided investment strategies to $264.3 billion in Separate Account assets.
Each distribution plan and agreement is initially approved by the directors or trustees of the respective fund and is reviewed for approval by such directors or trustees annually as required under applicable law.
2023 dollars in millions 2024 2023 Equity $ 79,423 $ 79,291 0 % Fixed-Income 98,059 94,920 3 Alternative / Private Markets 18,864 20,551 (8) Multi-Asset 2,883 2,867 1 Total Long-Term Assets 199,229 197,629 1 Money Market 630,349 559,993 13 Total Managed Assets $ 829,578 $ 757,622 9 % Average managed assets represent the average balance of AUM during a period of time.
2022 dollars in millions 2024 2023 2022 Equity $ 79,893 $ 81,348 $ 84,793 (2) % (4) % Fixed-Income 96,773 89,079 89,776 9 (1) Alternative / Private Markets 20,250 21,096 21,799 (4) (3) Multi-Asset 2,902 2,887 3,273 1 (12) Total Long-Term Assets 199,818 194,410 199,641 3 (3) Money Market 588,653 511,568 432,992 15 18 Total Average Managed Assets $ 788,471 $ 705,978 $ 632,633 12 % 12 % Changes in Federated Hermes average asset mix year-over-year across both asset classes and offering types have a direct impact on Federated Hermes operating income.