Morningstar® Investment Profile™   Morningstar®
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Federated Hermes Managed Volatility II P
Release date as of 2022-05-31. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2022-05-31
Out of 241
Tactical Allocation Funds
Morningstar®
Style Box™
What is this?
As of 2022-03-31
As of 2022-03-31
Total Fund Assets ($ Mil)
191.83
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks high current income and moderate capital appreciation.
The fund invests in both equity and fixed-income securities that have high income potential. The analysis seeks to identify securities likely to have predictable returns based on a number of strategies such as valuation, market sentiment, profitability and capital use. It may buy or sell foreign currencies or foreign currency forwards in lieu of or in addition to non-dollar denominated fixed-income securities in order to hedge or increase or decrease its exposure to foreign interest rate and/or currency markets.
  Morningstar Category: Tactical Allocation
Tactical Allocation portfolios seek to provide capital appreciation and income by actively shifting allocations across investments. These portfolios have material shifts across equity regions, and bond sectors on a frequent basis. To qualify for the tactical allocation category, the fund must have minimum exposures of 10% in bonds and 20% in equity. Next, the fund must historically demonstrate material shifts in sector or regional allocations either through a gradual shift over three years or through a series of material shifts on a quarterly basis. Within a three-year period, typically the average quarterly changes between equity regions and bond sectors exceeds 15% or the difference between the maximum and minimum exposure to a single equity region or bond sector exceeds 50%. 
  Investment Risks
There are no additional fund specific investment risks (e.g. liquidity risk, currency risk, foreign investment risk, etc.) associated with this fund beyond the normal risks generally associated with investing in a mutual fund.
  Portfolio Profile
Asset Allocation
% of Net Assets
U.S. Stocks 51.0
Non-U.S. Stocks 0.9
Bonds 40.0
Cash 6.3
Other 1.8
Total 100.0
Asset Allocation Long/Short/Net Graph
Data through 2022-03-31
Morningstar Equity Sectors
% of Stocks
Cyclical 32.57
Basic Materials 2.51
Consumer Cyclical 7.15
Financial Services 18.13
Real Estate 4.78
Sensitive 38.59
Communication Services 7.82
Energy 6.11
Industrials 10.69
Technology 13.97
Defensive 28.85
Consumer Defensive 7.48
Healthcare 16.73
Utilities 4.64
Data through 2022-03-31
Morningstar Fixed-Income Sectors
% Fund
Government 25.84
Corporate 37.59
Securitized 22.55
Municipal 0.00
Cash & Equivalents 13.95
Other 0.07
Data through 2022-03-31
Credit Analysis
% Bonds
AAA 49.80
AA 0.80
A 8.90
BBB 25.20
BB 4.00
B 5.70
Below B 2.20
Not Rated 3.40
Data through 2022-03-31
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 257
Total Number of Bond Holdings 328
% of Net Assets in Top 10 Holdings 47.24
Turnover % (as of 2021-12-31) 60.00
30 Day SEC Yield % 1.75
Top Holdings
Sector Country Maturity Date Market Value ($000) % of Net Assets
S+P500 Emini Fut Jun22 Xcme 20220617 --- USA 2022-06-17 33,301 14.80
Federated Mortgage Core Portfolio --- USA --- 29,439 13.09
10 Year Treasury Note Future June 22 --- USA 2022-06-21 -14,376 6.39
Federated Hermes High Income Bond II P --- USA --- 5,394 2.40
Us 2yr Note (Cbt) Jun22 Xcbt 20220630 --- --- 2022-06-30 5,298 2.36
United States Treasury Notes 0.5% --- USA 2023-03-15 5,144 2.29
Bank Loan Core --- USA --- 4,616 2.05
Federated Project and Trade Fin Cor --- USA --- 3,398 1.51
Federated Emerging Markets Core --- USA --- 2,999 1.33
5 Year Treasury Note Future June 22 --- USA 2022-06-30 2,294 1.02
Data through 2022-03-31
  Principal Risks   
Short Sale, Credit and Counterparty, Extension, Prepayment (Call), Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, Quantitative Investing, Value Investing, Interest Rate, Market/Market Volatility, Equity Securities, High-Yield Securities, Restricted/Illiquid Securities, Underlying Fund/Fund of Funds, Derivatives, Leverage, Custody, Management, Mid-Cap, Large Cap
Show Risk Definitions
  Other Information
Inception Date: 1994-02-10
Portfolio Manager(s)
James P. Gordon   (2014-08-20)
James P. Gordon, Jr., CFA, Senior Portfolio Manager, has been the Fund’s portfolio manager since August 2014. Mr. Gordon is jointly responsible for the day-to-day management of the Fund. He has been with the Adviser or an affiliate since 2002; has worked in investment management since 1992; and has managed investment portfolios since 2007. Education: B.S. and M. Eng., Cornell University; M.B.A., The University of Chicago, Booth School of Business.
Jerome D. Conner   (2014-04-08)
Jerome D. Conner, CFA, is a portfolio manager at Federated Investment Management Company focusing on asset allocation, interest rate strategy and security selection. He has been with Federated Investment Management Company since 2002; has worked in investment management since 1995; has managed investment portfolios since 2010. Education: B.S., U.S. Naval Academy; M.S., Boston University.
Ian L. Miller   (2017-04-30)
Mr. Miller joined Federated in January 2006 as a Quantitative Analyst. ; has worked in investment management since 2006; and has managed investment portfolios since 2012. Miller earned a B.S. in Molecular Biology from Clarion University and an M.S. in Biotechnology from The John Hopkins University.
Damian M. McIntyre   (2015-04-30)
Damian M. McIntyre, CFA , FRM and CAIA, Portfolio Manager, has been the Fund’s portfolio manager since January 2017 and served as associate portfolio manager since April 2015. Mr. McIntyre joined Federated in 2008 as an Associate Quantitative Analyst and has been responsible for assisting with the investment process in the Global Equity Area, focusing on Managed Risk strategies. Mr. McIntyre received his B.S., Computational Finance, and an M.B.A. with a concentration in Finance, Economics and Strategy from Carnegie Mellon University.
Ihab L. Salib   (2013-05-13)
Mr. Salib joined Federated in April 1999 as a Senior Fixed Income Trader/Assistant Vice President of the emerging markets affiliated fund's Adviser. In July 2000, he was named a Vice President and in 2007 was named Senior Vice President. From January 1994 through March 1999, Mr. Salib was employed as a Senior Global Fixed Income Analyst with UBS Brinson, Inc. Mr. Salib received his B.A. with a major in Economics from Stony Brook University.
Dana L. Meissner   (2020-04-30)
Dana L. Meissner, CFA, FRM and CAIA, Senior Portfolio Manager, has been the Fund’s portfolio manager since April 2020. Mr. Meissner is jointly responsible for the day-to-day management of the Fund. He has been with the Adviser or an affiliate since 2000; has worked in investment management since 2000; and has managed investment portfolios since 2009. Education: M.S.I.A., Carnegie Mellon University; M.S. and B.S., University of Toledo.
Todd A. Abraham   (1999-02-28)
Todd A. Abraham is a Senior Portfolio Manager and Head of the Government/Mortgage-Backed Fixed Income Group. Mr. Abraham has been a Senior Portfolio Manager from 2007, Portfolio Manager from 1995 to 2006, a Senior Vice President since 2007 and a Vice President of Federated from 1997 to 2006. Mr. Abraham joined Federated in 1993 as an Investment Analyst and served as Assistant Vice President from 1995 to 1997. Mr. Abraham served as a Portfolio Analyst at Ryland Mortgage Co. from 1992 to 1993. Mr. Abraham has received the Chartered Financial Analyst designation and an M.B.A. in Finance from Loyola College.
Mark E. Durbiano   (1994-02-10)
Mr. Durbiano joined Federated in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of Federated Investment Management Company since 1996. From 1988 through 1995, Mr. Durbiano was a Portfolio Manager and a Vice President of Federated. Mr. Durbiano has received the Chartered Financial Analyst designation and an M.B.A. in Finance from the University of Pittsburgh.
Investment Advisor(s)
Federated Global Investment Management Corp
Federated Investment Management Company
Federated Equity Mgmt Co. Of Penn
Issuer
Federated
Subadvisor(s)
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