United States
Securities and Exchange Commission
Washington, D.C. 20549
Form N-CSR
Certified Shareholder Report of Registered Management Investment Companies
811-21822
(Investment Company Act File Number)
Federated Hermes Managed Pool Series
______________________________________________________________
(Exact Name of Registrant as Specified in Charter)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant's Telephone Number)
Peter J. Germain, Esquire
1001 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)
(Notices should be sent to the Agent for Service)
Date of Fiscal Year End: 10/31/23
Date of Reporting Period: Six months ended 04/30/23
Item 1. | Reports to Stockholders |
![](https://capedge.com/proxy/N-CSRS/0001623632-23-000815/img539693431.gif)
Ticker FIDPX |
Federated Hermes International Dividend Strategy Portfolio
A Portfolio of Federated Hermes Managed Pool Series
Country | Percentage of Total Net Assets |
Germany | 25.1% |
Canada | 14.7% |
Finland | 10.1% |
Netherlands | 9.6% |
Italy | 9.5% |
Mexico | 8.3% |
France | 7.3% |
Norway | 6.4% |
Australia | 3.5% |
Spain | 3.2% |
United Kingdom | 1.2% |
Other Assets and Liabilities—Net2 | 1.1% |
TOTAL | 100% |
Sector Classification | Percentage of Total Net Assets |
Utilities | 22.6% |
Communication Services | 17.3% |
Financials | 17.2% |
Consumer Staples | 17.1% |
Health Care | 8.5% |
Energy | 7.8% |
Industrials | 6.1% |
Materials | 2.3% |
Other Assets and Liabilities—Net2 | 1.1% |
TOTAL | 100% |
Shares | Value in U.S. Dollars | ||
COMMON STOCKS—98.9% | |||
Australia—3.5% | |||
154,675 | Sonic Healthcare Ltd. | $3,638,500 | |
Canada—14.7% | |||
120,075 | Canadian Utilities Ltd., Class A | 3,471,482 | |
84,117 | Emera, Inc. | 3,579,249 | |
97,925 | Pembina Pipeline Corp. | 3,223,571 | |
47,560 | TC Energy Corp. | 1,976,679 | |
152,467 | TELUS Corp. | 3,233,825 | |
TOTAL | 15,484,806 | ||
Finland—10.1% | |||
99,720 | Elisa Communications Oyj | 6,191,029 | |
189,925 | Nordea Bank Abp | 2,115,772 | |
74,950 | UPM - Kymmene Oyj | 2,389,895 | |
TOTAL | 10,696,696 | ||
France—7.3% | |||
10,500 | Sanofi | 1,157,315 | |
139,236 | SCOR SE | 3,601,389 | |
46,575 | TotalEnergies SE | 2,969,107 | |
TOTAL | 7,727,811 | ||
Germany—25.1% | |||
18,825 | Allianz SE | 4,722,490 | |
63,975 | Bayer AG | 4,213,317 | |
93,000 | Deutsche Post AG | 4,463,531 | |
261,350 | E.On AG | 3,458,977 | |
20,483 | Muenchener Rueckversicherungs-Gesellschaft AG | 7,691,136 | |
12,000 | Siemens AG | 1,968,735 | |
TOTAL | 26,518,186 | ||
Italy—9.5% | |||
238,203 | Enel SpA | 1,627,587 | |
443,502 | Italgas SpA | 2,895,166 | |
544,725 | Snam Rete Gas SpA | 3,022,923 | |
286,797 | Terna SpA | 2,482,355 | |
TOTAL | 10,028,031 | ||
Mexico—8.3% | |||
2,629,150 | Kimberly-Clark de Mexico | 5,942,805 | |
684,250 | Wal-Mart de Mexico SAB de C.V. | 2,758,007 | |
TOTAL | 8,700,812 | ||
Netherlands—9.6% | |||
108,750 | Koninklijke Ahold NV | 3,745,123 | |
1,759,750 | Koninklijke KPN NV | 6,415,234 | |
TOTAL | 10,160,357 | ||
Norway—6.4% | |||
607,650 | Orkla ASA | 4,367,794 | |
190,675 | Telenor ASA | 2,379,893 | |
TOTAL | 6,747,687 | ||
Spain—3.2% | |||
258,151 | Iberdrola SA | 3,349,162 |
Shares | Value in U.S. Dollars | ||
COMMON STOCKS—continued | |||
United Kingdom—1.2% | |||
22,500 | Unilever PLC | $1,253,205 | |
TOTAL COMMON STOCKS (IDENTIFIED COST $92,913,693) | 104,305,253 | ||
TOTAL INVESTMENTS—98.9% (IDENTIFIED COST $92,913,693)1 | $104,305,253 | ||
OTHER ASSETS AND LIABILITIES - NET—1.1%2 | 1,195,187 | ||
TOTAL NET ASSETS—100% | $105,500,440 |
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Equity Securities: | ||||
Common Stocks | ||||
International | $24,185,618 | $80,119,635 | $— | $104,305,253 |
TOTAL SECURITIES | $24,185,618 | $80,119,635 | $— | $104,305,253 |
Six Months Ended (unaudited) 4/30/2023 | Year Ended October 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | ||
Net Asset Value, Beginning of Period | $7.71 | $9.01 | $7.92 | $8.40 | $7.48 | $8.66 |
Income From Investment Operations: | ||||||
Net investment income | 0.17 | 0.36 | 0.42 | 0.34 | 0.39 | 0.411 |
Net realized and unrealized gain (loss) | 1.89 | (1.30) | 1.09 | (0.48) | 0.92 | (1.18) |
TOTAL FROM INVESTMENT OPERATIONS | 2.06 | (0.94) | 1.51 | (0.14) | 1.31 | (0.77) |
Less Distributions: | ||||||
Distributions from net investment income | (0.18) | (0.36) | (0.42) | (0.34) | (0.39) | (0.41) |
Net Asset Value, End of Period | $9.59 | $7.71 | $9.01 | $7.92 | $8.40 | $7.48 |
Total Return2 | 26.83% | (10.78)% | 19.04% | (1.60)% | 17.96% | (9.21)% |
Ratios to Average Net Assets: | ||||||
Net expenses3,4 | 0.00%5 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Net investment income | 4.08%5 | 4.37% | 4.53% | 4.10% | 4.87% | 5.02% |
Expense waiver/reimbursement6 | 0.39%5 | 0.49% | 0.48% | 0.43% | 0.40% | 0.34% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $105,500 | $71,292 | $67,935 | $65,758 | $88,508 | $84,351 |
Portfolio turnover7 | 13% | 43% | 33% | 51% | 57% | 38% |
April 30, 2023 (unaudited)
Assets: | ||
Investment in securities, at value (identified cost $92,913,693) | $104,305,253 | |
Cash | 884,806 | |
Cash denominated in foreign currencies (identified cost $27,749) | 27,749 | |
Income receivable | 458,226 | |
Receivable for shares sold | 93,914 | |
TOTAL ASSETS | 105,769,948 | |
Liabilities: | ||
Payable for shares redeemed | $162,054 | |
Payable for portfolio accounting fees | 76,865 | |
Payable for custodian fees | 17,221 | |
Payable to adviser (Note 5) | 5,438 | |
Payable for administrative fee (Note 5) | 592 | |
Accrued expenses (Note 5) | 7,338 | |
TOTAL LIABILITIES | 269,508 | |
Net assets for 10,999,293 shares outstanding | $105,500,440 | |
Net Assets Consists of: | ||
Paid-in capital | $100,764,662 | |
Total distributable earnings (loss) | 4,735,778 | |
TOTAL NET ASSETS | $105,500,440 | |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
$105,500,440 ÷ 10,999,293 shares outstanding, no par value, unlimited shares authorized | $9.59 |
Six Months Ended April 30, 2023 (unaudited)
Investment Income: | |||
Dividends (net of foreign tax withheld of $191,301) | $1,830,866 | ||
Expenses: | |||
Administrative fee (Note 5) | $35,258 | ||
Custodian fees | 9,692 | ||
Transfer agent fees | 5,266 | ||
Directors'/Trustees' fees (Note 5) | 908 | ||
Auditing fees | 16,804 | ||
Commitment fees | 7,916 | ||
Legal fees | 4,971 | ||
Portfolio accounting fees | 66,646 | ||
Share registration costs | 15,696 | ||
Printing and postage | 9,349 | ||
Miscellaneous (Note 5) | 3,921 | ||
TOTAL EXPENSES | 176,427 | ||
Reimbursement of other operating expenses (Notes 2 and 5) | $(176,427) | ||
Net expenses | — | ||
Net investment income | 1,830,866 | ||
Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions: | |||
Net realized gain on investments and foreign currency transactions | 1,824,585 | ||
Net change in unrealized depreciation of investments and translation of assets and liabilities in foreign currency | 17,025,955 | ||
Net realized and unrealized gain (loss) on investments and foreign currency transactions | 18,850,540 | ||
Change in net assets resulting from operations | $20,681,406 |
Six Months Ended (unaudited) 4/30/2023 | Year Ended 10/31/2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $1,830,866 | $3,113,207 |
Net realized gain | 1,824,585 | 1,292,456 |
Net change in unrealized appreciation/depreciation | 17,025,955 | (13,195,721) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 20,681,406 | (8,790,058) |
Distributions to Shareholders: | ||
Distribution to shareholders | (1,876,332) | (3,048,194) |
Share Transactions: | ||
Proceeds from sale of shares | 25,491,707 | 38,488,119 |
Net asset value of shares issued to shareholders in payment of distributions declared | 8 | 53 |
Cost of shares redeemed | (10,088,118) | (23,293,496) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 15,403,597 | 15,194,676 |
Change in net assets | 34,208,671 | 3,356,424 |
Net Assets: | ||
Beginning of period | 71,291,769 | 67,935,345 |
End of period | $105,500,440 | $71,291,769 |
Six Months Ended 4/30/2023 | Year Ended 10/31/2022 | |
Shares sold | 2,906,755 | 4,514,710 |
Shares issued to shareholders in payment of distributions declared | 1 | 6 |
Shares redeemed | (1,158,689) | (2,804,576) |
NET CHANGE RESULTING FROM FUND SHARE TRANSACTIONS | 1,748,067 | 1,710,140 |
Short-Term | Long-Term | Total |
$4,420,863 | $4,105,573 | $8,526,436 |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Purchases | $26,962,760 |
Sales | $11,765,268 |
Beginning Account Value 11/1/2022 | Ending Account Value 4/30/2023 | Expenses Paid During Period1 | ||
Actual | $1,000 | $1,268.30 | $0.00 | |
Hypothetical (assuming a 5% return before expenses) | $1,000 | $1,024.79 | $0.00 |
181/365 (to reflect the one-half-year period). Federated Equity Management Company of Pennsylvania, the Adviser, has contractually agreed to reimburse all operating expenses, excluding extraordinary expenses, incurred by the Fund. This agreement has no fixed terms.
Annual Evaluation of Adequacy and Effectiveness
IMPORTANT NOTICE ABOUT FUND DOCUMENT DELIVERY
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
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Item 2. | Code of Ethics |
Not Applicable
Item 3. | Audit Committee Financial Expert |
Not Applicable
Item 4. | Principal Accountant Fees and Services |
Not Applicable
Item 5. | Audit Committee of Listed Registrants |
Not Applicable
Item 6. | Schedule of Investments |
(a) The registrant’s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1 of this form.
(b) Not Applicable; Fund had no divestments during the reporting period covered since the previous Form N-CSR filing.
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies |
Not Applicable
Item 8. | Portfolio Managers of Closed-End Management Investment Companies |
Not Applicable
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers |
Not Applicable
Item 10. | Submission of Matters to a Vote of Security Holders |
No Changes to Report
Item 11. | Controls and Procedures |
(a) The registrant’s President and Treasurer have concluded that the
registrant’s disclosure controls and procedures (as defined in rule 30a-3(c) under the Act) are effective in design and operation and are sufficient to form the basis of the certifications required by Rule 30a-(2) under the Act, based on their evaluation of these disclosure controls and procedures within 90 days of the filing date of this report on Form N-CSR.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in rule 30a-3(d) under the Act) during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies |
Not Applicable
Item 13. | Exhibits |
(a)(1) Code of Ethics- Not Applicable to this Report.
(a)(2) Certifications of Principal Executive Officer and Principal Financial Officer.
(a)(3) Not Applicable.
(b) Certifications pursuant to 18 U.S.C. Section 1350.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant Federated Hermes Managed Pool Series
By /S/ Lori A. Hensler
Lori A. Hensler
Principal Financial Officer
Date June 22, 2023
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By /S/ J. Christopher Donahue
J. Christopher Donahue
Principal Executive Officer
Date June 22, 2023
By /S/ Lori A. Hensler
Lori A. Hensler
Principal Financial Officer
Date June 22, 2023