Record Assets Under Management
Federated Hermes ended Q1 with record assets under management of $840 billion, driven by record money market assets of $637 billion.
Strong Equity Sales
Equity assets increased by $1.5 billion from year-end due mainly to net sales of $1.4 billion, with MDT strategies netting $2.5 billion in Q1, more than double the prior quarter's $1.2 billion.
Increase in Alternative Private Markets
Assets in the alternative private markets category increased by $562 million in Q1 due to FX rates and net sales of about $61 million.
Acquisition of Rivington Energy Management Limited
Federated Hermes completed the acquisition of a majority interest in a U.K. renewable energy company, enhancing their private markets platform.
Dividend Increase
The Board of Directors declared a $0.34 per share dividend, an increase of nearly 10% from the prior quarter dividend.