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: 2024-11-30
Date of Reporting Period: Six months ended 2024-05-31
Item 1. | Reports to Stockholders |
Strategy Portfolio
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Federated Hermes International Bond Strategy Portfolio | $0 | 0.00% |
Net Assets | $68,175,224% |
Number of Investments | $175% |
Portfolio Turnover Rate | $1% |
(% of Net Assets)1
(% of Net Assets)1
• prospectus • financial information • holdings • proxy voting information
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 Financial Statements filed under Item 7 of this form.
(b) Not Applicable.
Item 7. | Financial Statements and Financial Highlights for Open-End Management Companies |
and Additional Information
Ticker | FIBPX |
Federated Hermes International Bond Strategy Portfolio
A Portfolio of Federated Hermes Managed Pool Series
Principal Amount, Shares or Contracts | Value in U.S. Dollars | ||
BONDS—41.0% | |||
AUSTRALIAN DOLLAR—0.4% | |||
Sovereign—0.4% | |||
260,000 | Australia, Government of, Sr. Unsecd. Note, Series 148, 2.750%, 11/21/2027 | $ 165,752 | |
260,000 | Australia, Government of, Sr. Unsecd. Note, Series 160, 1.000%, 12/21/2030 | 141,351 | |
TOTAL | 307,103 | ||
BRAZILIAN REAL—0.4% | |||
Sovereign—0.4% | |||
1,500 | Brazil, Government of, Unsecd. Note, Series NTNF, 10.000%, 1/1/2027 | 283,120 | |
BRITISH POUND—5.2% | |||
Sovereign—5.2% | |||
600,000 | United Kingdom, Government of, 3.250%, 1/22/2044 | 622,646 | |
560,000 | United Kingdom, Government of, 4.250%, 12/7/2027 | 712,327 | |
400,000 | United Kingdom, Government of, Bond, 4.250%, 3/7/2036 | 502,255 | |
240,000 | United Kingdom, Government of, Sr. Unsecd. Note, 0.375%, 10/22/2030 | 241,824 | |
370,000 | United Kingdom, Government of, Unsecd. Deb., 1.625%, 10/22/2028 | 423,718 | |
880,000 | United Kingdom, Government of, Unsecd. Note, 1.500%, 7/22/2047 | 615,948 | |
310,000 | United Kingdom, Government of, Unsecd. Note, 4.250%, 6/7/2032 | 396,971 | |
TOTAL | 3,515,689 | ||
CANADIAN DOLLAR—1.7% | |||
Sovereign—1.7% | |||
160,000 | Canada, Government of, 4.000%, 6/1/2041 | 123,525 | |
635,000 | Canada, Government of, 5.750%, 6/1/2033 | 540,888 | |
315,000 | Canada, Government of, Series WL43, 5.750%, 6/1/2029 | 253,890 | |
350,000 | Canada, Government of, Unsecd. Note, 2.250%, 6/1/2025 | 251,239 | |
TOTAL | 1,169,542 | ||
EURO—22.9% | |||
Oil & Gas—0.9% | |||
600,000 | Petroleos Mexicanos, Sr. Unsecd. Note, Series EMTN, 3.750%, 4/16/2026 | 618,815 | |
Sovereign—22.0% | |||
110,000 | Belgium, Government of, Series 74, 0.800%, 6/22/2025 | 116,086 | |
618,000 | Belgium, Government of, Sr. Unsecd. Note, Series 86, 1.250%, 4/22/2033 | 577,525 | |
1,095,000 | France, Government of, 0.500%, 5/25/2025 | 1,154,382 | |
240,000 | France, Government of, 2.750%, 10/25/2027 | 257,929 | |
840,000 | France, Government of, 5.750%, 10/25/2032 | 1,088,444 | |
520,000 | France, Government of, Bond, 4.500%, 4/25/2041 | 644,513 | |
390,000 | France, Government of, O.A.T., 5.500%, 4/25/2029 | 470,527 | |
600,000 | France, Government of, Unsecd. Note, 1.000%, 5/25/2027 | 613,394 | |
300,000 | France, Government of, Unsecd. Note, 1.250%, 5/25/2038 | 250,525 | |
370,000 | France, Government of, Unsecd. Note, 2.000%, 5/25/2048 | 305,476 | |
225,000 | Germany, Government of, 2.500%, 7/4/2044 | 231,880 | |
600,000 | Germany, Government of, Bond, Series 03, 4.750%, 7/4/2034 | 769,598 | |
840,000 | Germany, Government of, Unsecd. Deb., 0.500%, 2/15/2028 | 841,075 | |
200,000 | Germany, Government of, Unsecd. Note, 0.500%, 2/15/2025 | 212,587 | |
620,000 | Germany, Government of, Unsecd. Note, 1.000%, 5/15/2038 | 535,725 | |
255,000 | Germany, Government of, Unsecd. Note, 1.000%, 8/15/2024 | 275,212 | |
300,000 | Germany, Government of, Unsecd. Note, 2.100%, 11/15/2029 | 316,333 | |
500,000 | Italy, Government of, Sr. Unsecd. Note, 1.650%, 12/1/2030 | 481,428 | |
490,000 | Italy, Government of, Sr. Unsecd. Note, 1.650%, 3/1/2032 | 459,682 |
Principal Amount, Shares or Contracts | Value in U.S. Dollars | ||
BONDS—continued | |||
EURO—continued | |||
Sovereign—continued | |||
810,000 | Italy, Government of, Sr. Unsecd. Note, 4.750%, 9/1/2028 | $ 923,832 | |
810,000 | Italy, Government of, Unsecd. Note, 1.600%, 6/1/2026 | 847,985 | |
600,000 | Italy, Government of, Unsecd. Note, 3.250%, 9/1/2046 | 553,670 | |
120,000 | Netherlands, Government of, Unsecd. Note, 0.250%, 7/15/2025 | 125,861 | |
200,000 | Netherlands, Government of, Unsecd. Note, 0.750%, 7/15/2027 | 203,121 | |
425,000 | Netherlands, Government of, Unsecd. Note, 2.500%, 1/15/2033 | 448,551 | |
220,000 | Spain, Government of, 4.200%, 1/31/2037 | 254,775 | |
540,000 | Spain, Government of, Sr. Unsecd. Note, 1.200%, 10/31/2040 | 404,811 | |
440,000 | Spain, Government of, Sr. Unsecd. Note, 1.500%, 4/30/2027 | 455,841 | |
690,000 | Spain, Government of, Sr. Unsecd. Note, 1.950%, 7/30/2030 | 701,073 | |
310,000 | Spain, Government of, Sr. Unsecd. Note, 2.350%, 7/30/2033 | 311,362 | |
120,000 | Spain, Government of, Unsecd. Note, 1.600%, 4/30/2025 | 128,013 | |
TOTAL | 14,961,216 | ||
TOTAL EURO | 15,580,031 | ||
JAPANESE YEN—8.4% | |||
Sovereign—8.4% | |||
190,000,000 | Japan, Government of, Sr. Unsecd. Note, Series 114, 2.100%, 12/20/2029 | 1,302,992 | |
365,000,000 | Japan, Government of, Sr. Unsecd. Note, Series 153, 1.300%, 6/20/2035 | 2,347,405 | |
63,000,000 | Japan, Government of, Sr. Unsecd. Note, Series 44, 1.700%, 9/20/2044 | 389,193 | |
125,000,000 | Japan, Government of, Sr. Unsecd. Note, Series 58, 0.800%, 3/20/2048 | 615,840 | |
165,000,000 | Japan, Government of, Sr. Unsecd. Note, Series 92, 2.100%, 12/20/2026 | 1,093,554 | |
TOTAL | 5,748,984 | ||
MEXICAN PESO—0.3% | |||
Sovereign—0.3% | |||
35,000 | Mexico, Government of, Sr. Unsecd. Note, Series M, 5.750%, 3/5/2026 | 190,518 | |
NEW ZEALAND DOLLAR—1.7% | |||
Sovereign—1.7% | |||
900,000 | New Zealand, Government of, Unsecd. Note, Series 0530, 4.500%, 5/15/2030 | 548,694 | |
1,000,000 | New Zealand, Government of, Unsecd. Note, Series 0534, 4.250%, 5/15/2034 | 587,118 | |
TOTAL | 1,135,812 | ||
TOTAL BONDS (IDENTIFIED COST $29,908,789) | 27,930,799 | ||
REPURCHASE AGREEMENTS—6.5% | |||
$ 4,470,000 | Interest in $400,000,000 joint repurchase agreement, 5.32% dated 5/31/2024 under which BNP Paribas S.A. will repurchase the securities provided as collateral for $400,177,333 on 6/3/2024. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury with various maturities to 8/15/2053 and the market value of those underlying securities was $408,180,891 (IDENTIFIED COST $4,470,000) | 4,470,000 | |
PURCHASED CALL OPTIONS—0.0% | |||
Foreign Currency—0.0% | |||
1,860,000 | EUR CALL/USD PUT, JP Morgan, Notional Amount $1,860,000, Exercise Price $1.096, Expiration Date 6/11/2024 | 1,307 | |
202,500 | USD CALL/CHF PUT, UBS, Notional Amount $202,500, Exercise Price $0.891. Expiration Date 9/18/2024 | 2,719 | |
TOTAL PURCHASED CALL OPTIONS (IDENTIFIED COST $5,321) | 4,026 | ||
PURCHASED PUT OPTIONS—0.0% | |||
Foreign Currency—0.0% | |||
45,000 | CHF PUT/JPY CALL, UBS, Notional Amount $45,000, Exercise Price $160, Expiration Date 07/05/2024 (IDENTIFIED COST $570) | 3 |
Principal Amount, Shares or Contracts | Value in U.S. Dollars | ||
INVESTMENT COMPANY—52.6% | |||
4,254,228 | Emerging Markets Core Fund (IDENTIFIED COST $36,645,729) | $35,863,140 | |
TOTAL INVESTMENT IN SECURITIES—100.1% (IDENTIFIED COST $71,030,409)1 | $68,267,968 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.1%)2 | (92,744) | ||
TOTAL NET ASSETS—100% | $68,175,224 |
Description | Number of Contracts | Notional Value | Expiration Date | Value and Unrealized Appreciation (Depreciation) |
Long Futures: | ||||
Euro-Bund Long Futures | 4 | $561,359 | June 2024 | $(5,542) |
Euro-Schatz Long Futures | 10 | $1,138,919 | June 2024 | $(8,673) |
Japan 10 Year Bond Long Futures | 1 | $909,230 | June 2024 | $(17,238) |
United Kingdom Gilt Long Futures | 2 | $245,470 | September 2024 | $(1,907) |
Short Futures: | ||||
United States Treasury Notes 5 Year Short Futures | 10 | $ (1,057,969) | September 2024 | $3,571 |
NET UNREALIZED DEPRECIATION ON FUTURES CONTRACTS | $(29,789) |
Counterparty | Description | Number of Contracts | Notional Amount | Expiration Date | Exercise Price | Value |
Put Options: | ||||||
JP Morgan | EUR PUT/USD CALL | (1,860,000) | $1,860,000 | 6/11/2024 | $1.081 | $(12,490) |
UBS Securities LLC | USD PUT/CHF CALL | (202,500) | $202,500 | 9/18/2024 | $0.852 | $(357) |
(PREMIUMS RECEIVED $4,739) | $(12,847) |
Settlement Date | Counterparty | Currency Units to Receive/Deliver | In Exchange For | Unrealized Appreciation/ (Depreciation) | |
Contracts Purchased: | |||||
6/12/2024 | Bank of America | $64,000 | 55,475 CHF | $2,435 | |
6/12/2024 | Bank of America | $32,000 | 29,115 EUR | $391 | |
6/12/2024 | Bank of America | $64,000 | 57,461 CHF | $231 | |
6/12/2024 | Barclays | $32,000 | 52,521 NZD | $(285) | |
6/12/2024 | BNP Paribas | $32,000 | 47,998 AUD | $53 | |
6/12/2024 | JPMorgan | $68,000 | 725,937 NOK | $(1,182) | |
7/5/2024 | Bank of America | 90,179 CHF | $99,740 | $610 | |
7/5/2024 | Bank of America | 168,524 GBP | $209,949 | $4,833 | |
7/5/2024 | Bank of America | 111,820 GBP | $139,948 | $2,565 | |
7/5/2024 | Bank of America | 2,013,730 MXN | $119,675 | $(1,661) | |
7/5/2024 | Bank of America | 3,096,538 MXN | $180,176 | $1,295 | |
7/5/2024 | BNP Paribas | 297,537 CAD | $218,023 | $437 | |
7/5/2024 | BNP Paribas | 2,052,385 MXN | $120,618 | $(338) | |
7/5/2024 | BNY Mellon | 146,463 AUD | $95,222 | $2,330 | |
7/5/2024 | BNY Mellon | 573,323 EUR | $615,536 | $7,547 | |
7/5/2024 | BNY Mellon | 379,733 EUR | $410,120 | $2,571 | |
7/5/2024 | BNY Mellon | 376,207 EUR | $409,961 | $(1,103) | |
7/5/2024 | Citibank | 110,382 GBP | $139,930 | $750 | |
7/5/2024 | JPMorgan | 97,178 AUD | $63,524 | $1,202 |
Settlement Date | Counterparty | Currency Units to Receive/Deliver | In Exchange For | Unrealized Appreciation/ (Depreciation) | |
7/5/2024 | JPMorgan | 94,737 AUD | $63,436 | $(336) | |
7/5/2024 | JPMorgan | 59,763 CHF | $66,642 | $(138) | |
7/5/2024 | JPMorgan | 2,027,951 MXN | $120,507 | $(1,659) | |
7/5/2024 | Morgan Stanley | 196,964 CAD | $145,388 | $(772) | |
7/5/2024 | Morgan Stanley | 198,750 CAD | $145,353 | $574 | |
7/5/2024 | Morgan Stanley | 197,501 CAD | $145,306 | $(295) | |
7/5/2024 | Morgan Stanley | 59,605 CHF | $66,346 | $(19) | |
7/5/2024 | Morgan Stanley | 379,698 EUR | $410,666 | $1,986 | |
7/5/2024 | Morgan Stanley | 111,295 GBP | $139,953 | $1,891 | |
7/5/2024 | Morgan Stanley | 26,993,736 JPY | $180,639 | $(8,049) | |
7/5/2024 | Morgan Stanley | 27,608,526 JPY | $179,461 | $(2,940) | |
7/5/2024 | State Street | 95,855 AUD | $63,421 | $423 | |
7/5/2024 | State Street | 59,829 CHF | $66,382 | $195 | |
7/5/2024 | State Street | 41,359,329 JPY | $270,213 | $(5,773) | |
7/19/2024 | Bank of America | $208,333 | 2,269,925 NOK | $(8,197) | |
7/19/2024 | Barclays | $666,250 | 2,660,625 PLN | $(8,731) | |
7/19/2024 | Barclays | $650,000 | 97,979,349 JPY | $22,185 | |
7/19/2024 | BNP Paribas | 400,000 CNY | $56,486 | $(977) | |
7/19/2024 | BNP Paribas | $650,000 | 568,993 CHF | $15,789 | |
7/19/2024 | BNP Paribas | $200,000 | 3,406,925 MXN | $786 | |
7/19/2024 | BNP Paribas | $420,000 | 378,504 CHF | $(1,888) | |
7/19/2024 | Citibank | 300,000 CHF | 50,569,350 JPY | $10,357 | |
7/19/2024 | Citibank | 420,000 EUR | $455,123 | $1,635 | |
7/19/2024 | JPMorgan | 300,000 CHF | 50,329,068 JPY | $11,897 | |
7/19/2024 | JPMorgan | 1,100,000 EUR | 1,980,002 NZD | $(20,829) | |
7/19/2024 | Morgan Stanley | 1,100,000 EUR | $1,203,934 | $(7,663) | |
7/19/2024 | Morgan Stanley | 1,050,000 EUR | $1,146,258 | $(4,362) | |
7/19/2024 | Morgan Stanley | 600,000 EUR | 6,983,144 NOK | $(13,618) | |
7/19/2024 | Morgan Stanley | 606,000 EUR | $648,093 | $10,944 | |
7/19/2024 | Morgan Stanley | 828,000 EUR | $897,915 | $2,552 | |
7/19/2024 | Morgan Stanley | 1,000,000 GBP | $1,244,141 | $30,436 | |
7/19/2024 | Morgan Stanley | 3,000,000 NZD | $1,829,235 | $14,855 | |
7/19/2024 | Morgan Stanley | $791,667 | 8,587,765 NOK | $(27,529) | |
7/19/2024 | Morgan Stanley | $600,000 | 539,466 CHF | $(1,300) | |
7/19/2024 | State Street | 500,000 GBP | $635,471 | $1,818 | |
7/19/2024 | Wells Fargo | 1,530,000 EUR | $1,637,316 | $26,589 | |
Contracts Sold: | |||||
6/12/2024 | Bank of America | $32,000 | 47,997 AUD | $(54) | |
6/12/2024 | Bank of America | $32,000 | 51,605 NZD | $(279) | |
6/12/2024 | BNP Paribas | $128,000 | 115,591 CHF | $281 | |
6/12/2024 | BNY Mellon | $32,000 | 29,333 EUR | $(155) | |
6/12/2024 | Morgan Stanley | $68,000 | 741,107 NOK | $2,628 | |
7/5/2024 | Bank of America | 47,368 AUD | $31,581 | $31 | |
7/5/2024 | Bank of America | 98,751 CAD | $72,453 | $(52) | |
7/5/2024 | Bank of America | 111,295 GBP | $140,319 | $(1,524) | |
7/5/2024 | BNP Paribas | 55,191 GBP | $70,099 | $(241) | |
7/5/2024 | BNY Mellon | 47,368 AUD | $31,613 | $63 | |
7/5/2024 | BNY Mellon | 1,013,975 MXN | $60,559 | $1,135 | |
7/5/2024 | Citibank | 146,463 AUD | $96,806 | $(746) | |
7/5/2024 | Citibank | 196,964 CAD | $144,823 | $207 | |
7/5/2024 | Citibank | 188,103 EUR | $204,609 | $180 | |
7/5/2024 | JPMorgan | 97,178 AUD | $63,954 | $(771) |
Settlement Date | Counterparty | Currency Units to Receive/Deliver | In Exchange For | Unrealized Appreciation/ (Depreciation) | |
7/5/2024 | Morgan Stanley | 297,537 CAD | $217,060 | $(1,400) | |
7/5/2024 | Morgan Stanley | 98,751 CAD | $72,502 | $(3) | |
7/5/2024 | Morgan Stanley | 90,179 CHF | $99,882 | $(468) | |
7/5/2024 | Morgan Stanley | 29,802 CHF | $33,088 | $(76) | |
7/5/2024 | Morgan Stanley | 29,802 CHF | $32,901 | $(263) | |
7/5/2024 | Morgan Stanley | 379,698 EUR | $412,097 | $(555) | |
7/5/2024 | Morgan Stanley | 573,323 EUR | $618,443 | $(4,640) | |
7/5/2024 | Morgan Stanley | 55,191 GBP | $69,804 | $(536) | |
7/5/2024 | Morgan Stanley | 26,993,736 JPY | $180,461 | $7,870 | |
7/5/2024 | Morgan Stanley | 13,804,263 JPY | $89,458 | $1,197 | |
7/5/2024 | Morgan Stanley | 2,013,730 MXN | $120,256 | $2,242 | |
7/5/2024 | Morgan Stanley | 3,096,538 MXN | $181,394 | $(78) | |
7/5/2024 | Morgan Stanley | 1,013,975 MXN | $60,206 | $783 | |
7/5/2024 | State Street | 59,763 CHF | $66,665 | $162 | |
7/5/2024 | State Street | 188,103 EUR | $204,607 | $178 | |
7/5/2024 | State Street | 168,524 GBP | $211,037 | $(3,744) | |
7/5/2024 | State Street | 41,359,329 JPY | $269,797 | $5,357 | |
7/19/2024 | Bank of America | 500,000 EUR | $536,462 | $(7,298) | |
7/19/2024 | Bank of America | 1,200,000 EUR | $1,308,167 | $3,144 | |
7/19/2024 | BNP Paribas | 1,650,000 EUR | $1,805,209 | $10,801 | |
7/19/2024 | BNP Paribas | 1,115,000 EUR | $1,220,287 | $7,702 | |
7/19/2024 | BNY Mellon | 822,000 EUR | $892,104 | $(1,837) | |
7/19/2024 | Citibank | 1,100,000 EUR | 1,975,242 NZD | $17,902 | |
7/19/2024 | Citibank | 2,000,000 NZD | $1,218,982 | $(10,411) | |
7/19/2024 | Citibank | 1,900,000 NZD | $1,150,488 | $(17,435) | |
7/19/2024 | Goldman Sachs | 600,000 EUR | 6,992,374 NOK | $14,498 | |
7/19/2024 | JPMorgan | 606,000 EUR | $661,126 | $2,089 | |
7/19/2024 | JPMorgan | 1,500,000 GBP | $1,855,723 | $(56,143) | |
7/19/2024 | JPMorgan | $650,000 | 584,060 CHF | $1,006 | |
7/19/2024 | JPMorgan | $666,250 | 2,644,180 PLN | $4,559 | |
7/19/2024 | Morgan Stanley | 600,000 CHF | 100,609,686 JPY | $(24,104) | |
7/19/2024 | Morgan Stanley | 630,000 EUR | $672,024 | $(13,114) | |
7/19/2024 | Morgan Stanley | $4,820,000 | 704,418,032 JPY | $(306,355) | |
7/19/2024 | Morgan Stanley | $300,000 | 44,568,063 JPY | $(14,425) | |
7/19/2024 | Morgan Stanley | $780,000 | 702,446 CHF | $2,961 | |
7/19/2024 | Morgan Stanley | $1,000,000 | 10,926,585 NOK | $42,298 | |
7/19/2024 | State Street | 1,000,000 NZD | $605,003 | $(9,693) | |
7/19/2024 | State Street | $1,300,000 | 193,051,846 JPY | $(62,997) | |
9/20/2024 | UBS | $68,850 | 61,843 CHF | $580 | |
NET UNREALIZED DEPRECIATION ON FOREIGN EXCHANGE CONTRACTS | $(347,025) |
Emerging Markets Core Fund | |
Value as of 11/30/2023 | $11,400,353 |
Purchases at Cost | $23,432,350 |
Proceeds from Sales | $— |
Change in Unrealized Appreciation/Depreciation | $1,030,437 |
Net Realized Gain/(Loss) | $— |
Value as of 5/31/2024 | $35,863,140 |
Shares Held as of 5/31/2024 | 4,254,228 |
Dividend Income | $882,837 |
1 | The cost of investments for federal tax purposes amounts to $71,262,178. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Debt Securities: | ||||
Bonds | $— | $27,930,799 | $— | $27,930,799 |
Repurchase Agreements | — | 4,470,000 | — | 4,470,000 |
Purchased Call Options | 4,026 | — | — | 4,026 |
Purchased Put Options | 3 | — | — | 3 |
Investment Company | 35,863,140 | — | — | 35,863,140 |
TOTAL SECURITIES | $35,867,169 | $32,400,799 | $— | $68,267,968 |
Other Financial Instruments: | ||||
Assets | ||||
Futures Contracts | $3,571 | $— | $— | $3,571 |
Foreign Exchange Contracts | — | 312,016 | — | 312,016 |
Liabilities | ||||
Futures Contracts | (33,360) | — | — | (33,360) |
Written Put Options | (12,847) | — | — | (12,847) |
Foreign Exchange Contracts | — | (659,041) | — | (659,041) |
TOTAL OTHER FINANCIAL INSTRUMENTS | $(42,636) | $(347,025) | $— | $(389,661) |
The following acronym(s) are used throughout this portfolio: | ||
AUD | —Australian Dollar | |
CAD | —Canadian Dollar | |
CHF | —Swiss Franc | |
CNY | —Chinese Yuan Renminbi | |
EMTN | —Euro Medium Term Note | |
EUR | —Euro | |
GBP | —Great British Pound | |
JPY | —Japanese Yen | |
MXN | —Mexican Peso | |
NOK | —Norwegian Krone | |
NZD | —New Zealand Dollar | |
PLN | —Polish Zloty | |
USD | —United States Dollar |
Six Months Ended (unaudited) 5/31/2024 | Year Ended November 30, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $12.21 | $11.70 | $14.83 | $15.59 | $14.75 | $14.01 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.32 | 0.57 | 0.52 | 0.62 | 0.51 | 0.53 |
Net realized and unrealized gain (loss) | 0.16 | (0.06) | (2.94) | (1.05) | 0.83 | 0.81 |
Total from Investment Operations | 0.48 | 0.51 | (2.42) | (0.43) | 1.34 | 1.34 |
Less Distributions: | ||||||
Distributions from net investment income | (0.45) | — | (0.71) | (0.33) | (0.50) | (0.60) |
Net Asset Value, End of Period | $12.24 | $12.21 | $11.70 | $14.83 | $15.59 | $14.75 |
Total Return2 | 3.86% | 4.36% | (17.16)% | (2.90)% | 9.34% | 9.92% |
Ratios to Average Net Assets: | ||||||
Net expenses3,4 | 0.00%5 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Net investment income | 5.29%5 | 4.81% | 3.95% | 4.01% | 3.49% | 3.66% |
Expense waiver/reimbursement6 | 0.72%5 | 1.54% | 0.94% | 0.49% | 0.93% | 1.24% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $68,175 | $22,043 | $13,251 | $62,853 | $52,037 | $23,369 |
Portfolio turnover7 | 1% | 76% | 15% | 53% | 69% | 52% |
1 | Per share numbers have been calculated using the average shares method. |
2 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | See Note 5, Investment Adviser Fee and Other Transactions with Affiliates. |
5 | Computed on an annualized basis. |
6 | This expense decrease is reflected in both the net expense and net investment income ratios shown above. Amount does not reflect expense waiver/ reimbursement recorded by investment companies in which the Fund may invest. |
7 | Securities that mature are considered sales for purposes of this calculation. |
Assets: | |
Investment in securities, at value including $35,863,140 of investment in an affiliated holding* (identified cost $71,030,409, including $36,645,729 of identified cost in an affiliated holding) | $68,267,968 |
Cash denominated in foreign currencies (identified cost $54,908) | 55,068 |
Cash | 15 |
Unrealized appreciation on foreign exchange contracts | 312,016 |
Income receivable | 271,248 |
Receivable for shares sold | 106,710 |
Due from broker (Note 2) | 50,248 |
Receivable for investments sold | 3,381 |
Total Assets | 69,066,654 |
Liabilities: | |
Unrealized depreciation on foreign exchange contracts | $659,041 |
Payable for portfolio accounting fees | 111,953 |
Payable for shares redeemed | 55,522 |
Written options outstanding, at value (premium received $4,739) | 12,847 |
Payable to adviser (Note 5) | 3,486 |
Payable for investments purchased | 3,381 |
Payable for variation margin on futures contracts | 1,009 |
Accrued expenses (Note 5) | 44,191 |
TOTAL LIABILITIES | 891,430 |
Net assets for 5,569,568 shares outstanding | $68,175,224 |
Net Assets Consist of: | |
Paid-in capital | $77,783,943 |
Total distributable earnings (loss) | (9,608,719) |
TOTAL NET ASSETS | $68,175,224 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
$68,175,224 ÷ 5,569,568 shares outstanding, no par value, unlimited shares authorized | $12.24 |
* | See information listed after the Fund’s Portfolio of Investments. |
Investment Income: | |
Interest (net of foreign tax withheld of $2,533) | $318,109 |
Dividends received from an affiliated holding* | 882,837 |
TOTAL INCOME | 1,200,946 |
Expenses: | |
Administrative fee (Note 5) | $18,273 |
Custodian fees | 17,106 |
Transfer agent fees | 2,487 |
Directors’/Trustees’ fees (Note 5) | 722 |
Auditing fees | 17,828 |
Legal fees | 5,444 |
Portfolio accounting fees | 70,243 |
Share registration costs | 12,702 |
Printing and postage | 10,277 |
Miscellaneous (Note 5) | 8,139 |
TOTAL EXPENSES | 163,221 |
Reimbursement of other operating expenses (Note 5) | (163,221) |
Net expenses | — |
Net investment income | 1,200,946 |
Realized and Unrealized Gain (Loss) on Investments, Foreign Exchange Contracts, Futures Contracts, Written Options and Foreign Currency Transactions: | |
Net realized loss on investments and foreign currency transactions | (72,048) |
Net realized gain on foreign exchange contracts | 54,385 |
Net realized gain on futures contracts | 5,492 |
Net realized gain on written options | 1,548 |
Net change in unrealized depreciation of investments and translation of assets and liabilities in foreign currency (including net change in unrealized depreciation of $1,030,437 of investments in an affiliated holding*) | 394,804 |
Net change in unrealized depreciation of foreign exchange contracts | (325,458) |
Net change in unrealized appreciation of futures contracts | (32,351) |
Net change in unrealized appreciation of written options | (9,000) |
Net realized and unrealized gain (loss) on investments, foreign exchange contracts, futures contracts, written options and foreign currency transactions | 17,372 |
Change in net assets resulting from operations | $1,218,318 |
* | See information listed after the Fund’s Portfolio of Investments. |
Six Months Ended (unaudited) 5/31/2024 | Year Ended 11/30/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $1,200,946 | $933,751 |
Net realized loss | (10,623) | (711,906) |
Net change in unrealized appreciation/depreciation | 27,995 | 499,096 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 1,218,318 | 720,941 |
Distributions to Shareholders | (850,629) | — |
Share Transactions: | ||
Proceeds from sale of shares | 49,491,501 | 22,662,260 |
Net asset value of shares issued to shareholders in payment of distributions declared | 19,851 | — |
Cost of shares redeemed | (3,746,676) | (14,591,542) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 45,764,676 | 8,070,718 |
Change in net assets | 46,132,365 | 8,791,659 |
Net Assets: | ||
Beginning of period | 22,042,859 | 13,251,200 |
End of period | $68,175,224 | $22,042,859 |
Fair Value of Derivative Instruments | ||||
Asset | Liability | |||
Statement of Assets and Liabilities Location | Fair Value | Statement of Assets and Liabilities Location | Fair Value | |
Derivatives not accounted for as hedging instruments under ASC Topic 815 | ||||
Foreign exchange contracts | Unrealized appreciation on foreign exchange contracts | $312,016 | Unrealized depreciation on foreign exchange contracts | $659,041 |
Interest rate contracts | Receivable for variation margin on futures contracts | — | Payable for variation margin on futures contracts | 29,789* |
Foreign exchange contracts | Purchased options within Investment in securities, at value | 4,029 | Written options outstanding, at value | 12,847 |
Total derivatives not accounted for as hedging instruments under ASC Topic 815 | $316,045 | $701,677 |
* | Includes net cumulative depreciation of futures contracts as reported in the footnotes to the Portfolio of Investments. Only the current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | |||||
Futures Contracts | Foreign Exchange Contracts | Purchased Options Contracts1 | Written Options Contracts | Total | |
Interest rate contracts | $5,492 | $— | $— | $— | $5,492 |
Foreign exchange contracts | — | 54,385 | (80,291) | 1,548 | (24,358) |
TOTAL | $5,492 | $54,385 | $(80,291) | $1,548 | $(18,866) |
1 | The net realized loss on Purchased Options is found within the Net realized loss on investments and foreign currency transactions on the Statement of Operations. |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income | |||||
Futures Contracts | Foreign Exchange Contracts | Purchased Options Contracts1 | Written Options Contracts | Total | |
Interest rate contracts | $(32,351) | $— | $— | $— | $(32,351) |
Foreign exchange contracts | — | (325,458) | (2,395) | (9,000) | (336,853) |
TOTAL | $(32,351) | $(325,458) | $(2,395) | $(9,000) | $(369,204) |
1 | The net change in unrealized depreciation of Purchased Options is found within the net change in unrealized depreciation of investments and translation of assets and liabilities in foreign currency on the Statement of Operations. |
Gross Amounts Not Offset in the Statement of Assets and Liabilities | ||||
Transaction | Gross Asset Derivatives Presented in Statement of Assets and Liabilities | Financial Instrument | Collateral Received | Net Amount |
Purchased options contracts | $4,029 | $— | $— | $4,029 |
Foreign exchange contracts | 312,016 | (211,785) | — | 100,231 |
TOTAL | $316,045 | $(211,785) | $— | $104,260 |
Transaction | Gross Liability Derivatives Presented in Statement of Assets and Liabilities | Financial Instrument | Collateral Pledged | Net Amount |
Written options contracts | $12,847 | $— | $— | $12,847 |
Foreign exchange contracts | 659,041 | (211,785) | — | 447,256 |
TOTAL | $671,888 | $(211,785) | $— | $460,103 |
Six Months Ended 5/31/2024 | Year Ended 11/30/2023 | |
Shares sold | 4,068,132 | 1,891,596 |
Shares issued to shareholders in payment of distributions declared | 1,603 | — |
Shares redeemed | (305,948) | (1,218,308) |
NET CHANGE RESULTING FROM FUND SHARE TRANSACTIONS | 3,763,787 | 673,288 |
Short-Term | Long-Term | Total |
$1,077,736 | $6,501,100 | $7,578,836 |
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 | $43,089,144 |
Sales | $238,086 |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
Item 8. | Changes in and Disagreements with Accountants for Open-End Management Investment Companies |
Federated Hermes International Bond Strategy Portfolio: Not Applicable.
Item 9. | Proxy Disclosures for Open-End Management Investment Companies. |
Federated Hermes International Bond Strategy Portfolio: Not Applicable.
Item 10. | Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies. |
Federated Hermes International Bond Strategy Portfolio: The Fund’s disclosure of remuneration items is included as part of the Financial
Item 11. | Statement Regarding Basis for Approval of Investment Advisory Contract. |
Federated Hermes International Bond Strategy Portfolio: The Fund’s Evaluation and Approval of Advisory Contract summary by fund appear in the Financial Statements filed under Item 7 of this form.
Item 12. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies |
Not Applicable
Item 13. | Portfolio Managers of Closed-End Management Investment Companies. |
Not Applicable
Item 14. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not Applicable
Item 15. | Submission of Matters to a Vote of Security Holders. |
No Changes to Report
Item 16. | Controls and Procedures. |
(a) The registrant’s Principal Executive Officer and Principal Financial Officer 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 as of a date within 90 days 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 17. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not Applicable
Item 18. | Recovery of Erroneously Awarded Compensation |
(a) Not Applicable
(b) Not Applicable
Item 19. | Exhibits |
(a)(1) | Not Applicable. |
(a)(2) | Certifications of Principal Executive Officer and Principal Financial Officer. |
(a)(3) | Not Applicable. |
(a)(4) | 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/ Jeremy D. Boughton
Jeremy D. Boughton, Principal Financial Officer
Date: July 23, 2024
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: July 23, 2024
By: /s/ Jeremy D. Boughton
Jeremy D. Boughton, Principal Financial Officer
Date: July 23, 2024