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Concentration Risk
 6 Months Ended
Jun. 30, 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:
Six Months Ended
June 30,
20242023
Money Market Assets52 %46 %
Equity Assets29 %30 %
Fixed-Income Assets12 %12 %
(b) Revenue Concentration by Investment Fund
Federated Hermes’ revenue concentration in the investment fund, Federated Hermes Government Obligations Fund, was 15% for both the three- and six-month periods ended June 30, 2024, and 13% and 14% for the three- and six-month periods ended June 30, 2023, respectively. A significant and prolonged decline in the AUM in this fund 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.
(c) Revenue Concentration by Intermediary
Approximately 10% of Federated Hermes’ total revenue for both the three- and six-month periods ended June 30, 2024, and 11% for both the three- and six-month periods ended June 30, 2023, was derived from services provided to one intermediary, The Bank of New York 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.