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Concentration Risk
 3 Months Ended
Mar. 31, 2024
Risks and Uncertainties [Abstract]  
Concentration Risk Concentration Risk
(a) Revenue Concentration by Asset Class
The following table presents Federated Hermes’ significant revenue concentration by asset class:
Three Months Ended
March 31,
20242023
Money Market Assets51 %47 %
Equity Assets30 %33 %
Fixed-Income Assets12 %13 %
(b) Revenue Concentration by Investment Fund Strategy
The following table presents Federated Hermes’ revenue concentration by investment fund strategy:
Three Months Ended
March 31,
20242023
Federated Hermes Government Obligations Fund15 %14 %
Federated Hermes Strategic Value Dividend strategy1
8 %10 %
1    Strategy includes Federated Hermes Funds and Separate Accounts
A significant and prolonged decline in the AUM in this fund or strategy could have a material adverse effect on Federated Hermes’ future revenues and, to a lesser extent, net income, due to a related reduction in distribution expenses associated with this fund or strategy.
(c) Revenue Concentration by Intermediary
Approximately 11% of Federated Hermes’ total revenue for the three-month period ended March 31, 2024, and 13% for the three-month period ended March 31, 2023, was derived from services provided to one intermediary, The Bank of New York Mellon Corporation, including its Pershing subsidiary. Significant negative changes in Federated Hermes’ relationship with this intermediary could have a material adverse effect on Federated Hermes’ future revenues and, to a lesser extent, net income due to a related reduction in distribution expenses associated with this intermediary.