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Concentration Risk | 9 Months Ended
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Sep. 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:
|  | Nine Months Ended
|  | September 30,
|  | 2024 |  | 2023
Money Market Assets |  | 51 | % |  | 46 | %
Equity Assets |  | 29 | % |  | 30 | %
Fixed-Income Assets |  | 12 | % |  | 12 | %
(b) Revenue Concentration by Investment Fund The following table presents Federated Hermes’ revenue concentration by investment fund strategy:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Federated Hermes Government Obligations Fund | 16 | % |  | 14 | % |  | 15 | % |  | 14 | %
Federated Hermes Prime Cash Obligations Fund | 10 | % |  | 7 | % |  | 9 | % |  | 6 | %
A significant and prolonged decline in the AUM in these funds 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 these funds. (c) Revenue Concentration by Intermediary Approximately 10% of Federated Hermes’ total revenue for both the three- and nine-month periods ended September 30, 2024, and 11% for both the three- and nine-month periods ended September 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.

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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 -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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