Kaufmann Small Cap Fund

ticker F K A L X Mutual Funds . Small Cap .


December 31 2020
$9.8 B
YTD Return NAV
January 18 2021
Morningstar Rating ™
December 31 2020
4 out of 5 stars"

Seeks capital appreciation by investing primarily in the common stocks of small companies that are traded on national security exchanges, the NASDAQ stock market and on the over-the-counter market.

Key Facts - Part 1
Symbol ticker F K A L X
Benchmark Russell 2000® Growth Index
Key Facts - Part 2
Fund Number(s)
CUSIP 3 1 4 2 1 N 6 8 3
Performance Incp. Date December 18 2002
Small Growth
Medium Growth
Hans Utsch
Senior Portfolio Manager
Head of Kaufmann Growth Equity Team

joined Federated Hermes
58 years of experience
John Ettinger, CFA®
Senior Vice President
Senior Portfolio Manager

joined Federated Hermes
26 years of experience
Stephen DeNichilo, CFA®
Portfolio Manager
Senior Investment Analyst

joined Federated Hermes
22 years of experience
Barbara Miller
Vice President
Portfolio Manager
Senior Investment Analyst

joined Federated Hermes
28 years of experience
Tom Brakel, M.D.
Senior Portfolio Manager
Senior Investment Analyst

joined Federated Hermes
23 years of experience
Jonathan Art
Vice President
Senior Portfolio Manager
Senior Investment Analyst

joined Federated Hermes
39 years of experience
Mark Bauknight
Senior Portfolio Manager
Senior Investment Analyst

joined Federated Hermes
27 years of experience
Vivian Wohl
Vice President
Portfolio Manager
Senior Investment Analyst

joined Federated Hermes
36 years of experience
Steven Abrahamson
Vice President
Portfolio Manager
Senior Investment Analyst

joined Federated Hermes
29 years of experience




For additional information, including definitions of related terms and indexes, see the Financial Glossary and Benchmark Index Glossary.




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


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 01/01/2022 or the date of the fund's next effective prospectus.

As of June 29, 2020, the fund was renamed Federated Hermes Kaufmann Small Cap Fund.

The fund's R6 Shares commenced operations on September 1, 2017. For the period prior to the commencement of operations of the R6 Shares, the performance information shown is for the fund's A Shares adjusted to reflect the expenses of R6 Shares for each year for which the fund's R6 expenses would have exceeded the actual expenses paid by the fund's A Shares. The performance information has also been adjusted to reflect any applicable differences between the sales loads and charges imposed on the purchase and redemption of R6 Shares and the A Shares, as well as the removal of any voluntary waivers/reimbursements of fund expenses that may have occurred during the periods prior to the commencement of operations of the R6 Shares.

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.

Investing in IPOs involves special risks such as limited liquidity and increased volatility.

Small company stocks may be less liquid and subject to greater price volatility than large capitalization stocks.

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.

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

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.

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.

Current and future portfolio holdings are subject to risk.

Federated Securities Corp., Distributor

Not FDIC Insured
May Lose Value
No Bank Guarantee