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Concentration Risk | 12 Months Ended
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Dec. 31, 2019
Risks and Uncertainties [Abstract] |
Concentration Risk | Concentration Risk The following information summarizes Federated's revenue concentrations. See additional information on the risks related to such concentrations in Item 1A - Risk Factors. (a) Revenue Concentration by Asset Class The following table presents Federated's revenue concentration by asset class over the last three years:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Equity Assets |  | 40 | % |  | 41 | % |  | 38 | %
Money Market Assets |  | 40 | % |  | 37 | % |  | 41 | %
Fixed-Income Assets |  | 14 | % |  | 16 | % |  | 17 | %
The change in the relative proportion of Federated's revenue attributable to money market assets in 2019, as compared to the same period in 2018, was primarily the result of higher average money market assets in 2019. The change in the relative proportion of Federated's revenue attributable to equity assets in 2018, as compared to the same period in 2017, was primarily the result of higher average equity assets mostly as a result of the Hermes Acquisition. Because the Hermes Acquisition was primarily comprised of equity assets and alternative/private markets assets, the relative proportion of Federated's revenue attributable to money market assets decreased in 2018 as compared to 2017. Furthermore, Federated's revenue attributable to money market assets decreased as a result of a change in the mix of average money market assets. (b) Revenue Concentration by Investment Strategy/Fund The following table presents Federated's revenue concentration by investment strategy/fund over the last three years:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Federated Strategic Value Dividend strategy 1 |  | 11 | % |  | 15 | % |  | 18 | %
Federated Government Obligations Fund |  | 10 | % |  | 9 | % |  | 10 | %
Federated Kaufmann Mid-Cap Growth strategy 2 |  | 9 | % |  | 10 | % |  | 9 | %
1 | Strategy includes Federated Funds and Separate Accounts.
2 | Strategy includes Federated Funds.
A significant and prolonged decline in the AUM in these strategies/fund could have a material adverse effect on Federated's future revenues and, to a lesser extent, net income, due to a related reduction in distribution expenses associated with the Federated Funds managed in accordance with these strategies. (c) Revenue Concentration by Intermediary Approximately 11%, 13% and 16% of Federated's total revenue for 2019, 2018 and 2017, respectively, was derived from services provided to one intermediary, The Bank of New York Mellon Corporation, including its Pershing subsidiary. Significant negative changes in Federated's relationship with this intermediary could have a material adverse effect on Federated's future revenues and, to a lesser extent, net income, due to a related reduction in distribution expenses associated with this intermediary.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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- References No definition available. + Details
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