International Equity Fund

ticker P I U I X Mutual Funds . Foreign Large Cap .

Overview

 
AT A GLANCE
Portfolio
Assets
February 29 2024
$1.4 B
YTD Return NAV
March 27 2024
5.64%
Intl/Global
Gross
Expenses
1.48%
Net
Expenses
0.94%
STRATEGY

Seeks long-term capital appreciation.

KEY FACTS
Key Facts - Part 1
Symbol ticker P I U I X
Benchmark MSCI A C W I ex USA Index
Key Facts - Part 2
Fund Number(s)
717
CUSIP 3 1 4 2 3 A 6 8 9
Performance Incp. Date August 1 1997
MORNINGSTAR CATEGORY / STYLE
Category
Foreign Large Blend
Style
Large Blend
INVESTMENT GOALS Retirement
Growth
Inflation Options
Global Diversification
KEY INVESTMENT TEAM
Martin Schulz
Senior Vice President
Senior Portfolio Manager
Head of International Equity Group

28 years of experience
Calvin Zhang
Senior Vice President
Senior Portfolio Manager

18 years of experience
Bernard R. Horn Jr.
Chief Investment Officer
Sub-Adviser, Polaris Capital Management, LLC

43 years of experience
Sumanta Biswas, CFA
Assistant Portfolio Manager
Sub-Adviser, Polaris Capital Management, LLC

20 years of experience
Bin Xiao, CFA
Assistant Portfolio Manager
Sub-Adviser, Polaris Capital Management, LLC

18 years of experience
Jason Crawshaw
Assistant Portfolio Manager
Sub-Adviser, Polaris Capital Management, LLC

23 years of experience

Performance

Characteristics

Commentary

Documents

 
DISCLOSURES

1 disclosure If this product is new, it will not have completed its first financial reporting period. Please check back to view future shareholder reports. For the new share of an existing fund, you may wish to view recent shareholder reports of another share of that fund by visiting another share.

The “As of Date” for regulatory documents  is the date when the document is effective with the SEC and made available on Federated Hermes' website.

2 disclosure Each fiscal quarter, the Fund will file with the SEC a complete schedule of its monthly portfolio holdings on “Form N-PORT.” The Fund’s holdings as of the end of the third month of every fiscal quarter, as reported on Form N-PORT, will be publicly available on the SEC’s website at www.sec.gov within 60 days of the end of the fiscal quarter upon filing.

double dagger disclosure PDF file consists of a President's Message or Market Overview (if applicable) and Annual/Semi-Annual Shareholder Report. NOTE: To be sure you have the most recent information, please access both the Annual Report and the Semi-Annual Report.

Distributions and Taxes

Standard Performance

 
DISCLOSURES

dagger disclosure The fund's expense ratio is from the most recent prospectus. The expense ratio may reflect voluntary fee waivers and/or expense reimbursements determined by the fund's Advisor and its affiliates. The voluntary waivers and/or reimbursements, if applicable, are in effect up to but not including the later of 08/01/2024 or the date of the fund's next effective prospectus.

The fund is the successor to the PNC International Equity Fund (“predecessor fund”), a portfolio of PNC Funds, pursuant to a reorganization involving the Fund and the predecessor fund on November 15th, 2019. Prior to the date of the reorganization, the fund had no investment operations. Accordingly, the performance information, for periods prior to the reorganization is historical information for the predecessor fund. The predecessor fund was managed by the same portfolio management team as the fund, had an identical investment objective and substantially identical strategies, policies, and restrictions.

The fund’s assets are allocated among a growth strategy (the “International Growth Component”) and a value strategy (the “International Value Component”). The International Growth Component invests substantially all of its assets in Federated Hermes International Growth Fund, an open-end mutual fund advised by the fund’s investment adviser. Federated Hermes International Growth Fund invests primarily in equity securities that are tied economically to countries throughout the world in developed, developing and emerging markets.

Total returns for periods of less than one year are cumulative.

Total return may have been lower in the absence of temporary expense waivers or reimbursements.

International investing involves special risks including currency risk, increased volatility, political risks, and differences in auditing and other financial standards. Prices of emerging-market and frontier-market securities can be significantly more volatile than the prices of securities in developed countries, and currency risk and political risks are accentuated in emerging markets.

Due to their relatively high valuations, growth stocks are typically more volatile than value stocks.

Value stocks may lag growth stocks in performance, particularly in late stages of a market advance.

The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional instruments.

After-tax returns are calculated using a standard set of assumptions. Actual after-tax returns depend on each investor’s personal tax situation, and are likely to differ from those shown. The stated returns assume the highest historical federal income and capital gains tax rates, but do not reflect the effect of any applicable state and local taxes. Return After Taxes on Distributions assumes a continued investment in the fund and shows the effect of taxes on fund distributions. Return After Taxes on Distribution and Sale of Fund Shares assumes all shares were redeemed at the end of each measurement period, and shows the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on fund distributions. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA, 401(k) plans. The after-tax average annual total returns are based on the 37% tax bracket and include the 3.8% tax on net investment income.

Mutual funds are subject to risks and fluctuate in value.

The holdings percentages are based on net assets at the close of business on the date above, and may not necessarily reflect adjustments that are routinely made when presenting net assets for formal financial statement purposes. Because this is a managed portfolio, the investment mix will change.

Current and future portfolio holdings are subject to risk.

Product classifications noted at the top are Federated Hermes' internal classifications.

Investors should carefully consider the fund's investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, contact us or view the prospectus provided on this website. Please carefully read the summary prospectus or prospectus before investing.

Federated Securities Corp., Distributor

Not FDIC Insured
May Lose Value
No Bank Guarantee

457772862