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Concentration Risk
 3 Months Ended
Mar. 31, 2025
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,
20252024
Money Market Assets53 %51 %
Equity Assets28 %30 %
Fixed-Income Assets12 %12 %
(b) Revenue Concentration by Investment Fund Strategy
The following table presents Federated Hermes’ revenue concentration by investment fund strategy:
Three Months Ended
March 31,
20252024
Federated Hermes Government Obligations Fund16 %15 %
Federated Hermes Prime Cash Obligations Fund 11 %8 %
A significant and prolonged decline in the AUM in these funds can 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 9% of Federated Hermes’ total revenue for the three-month period ended March 31, 2025, and 11% for the three-month period ended March 31, 2024, 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 can 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.