United States
Securities and Exchange Commission
Washington, D.C. 20549
Form N-CSR
Certified Shareholder Report of Registered Management Investment Companies
811-4017
(Investment Company Act File Number)
Federated Hermes Equity Funds
______________________________________________________________
(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: 11/30/22
Date of Reporting Period: Six months ended 05/31/22
Item 1. | Reports to Stockholders |
Share Class | Ticker | A | IVFAX | C | IVFCX | Institutional | IVFIX | R6 | IVFLX |
Federated Hermes International Strategic Value Dividend Fund
A Portfolio of Federated Hermes Equity Funds
Country | Percentage of Total Net Assets |
Canada | 23.1% |
United Kingdom | 14.7% |
Germany | 11.2% |
France | 8.8% |
Italy | 7.1% |
Finland | 7.1% |
Switzerland | 5.2% |
United States | 4.7% |
Mexico | 4.5% |
Australia | 2.2% |
Netherlands | 1.9% |
South Korea | 1.8% |
Spain | 1.4% |
Brazil | 1.3% |
Japan | 1.0% |
Norway | 0.9% |
Cash Equivalents2 | 0.8% |
Other Assets and Liabilities—Net3 | 2.3% |
TOTAL | 100% |
Sector Classification | Percentage of Total Net Assets |
Utilities | 18.5% |
Financials | 17.9% |
Communication Services | 16.4% |
Consumer Staples | 16.4% |
Energy | 10.8% |
Health Care | 10.3% |
Materials | 3.5% |
Industrials | 1.6% |
Real Estate | 1.5% |
Cash Equivalents2 | 0.8% |
Other Assets and Liabilities—Net3 | 2.3% |
TOTAL | 100% |
Shares | Value in U.S. Dollars | ||
COMMON STOCKS—96.9% | |||
Communication Services—16.4% | |||
307,470 | BCE, Inc. | $16,751,202 | |
639,700 | Deutsche Telekom AG, Class REG | 13,132,932 | |
282,440 | Elisa Communications Oyj | 15,989,351 | |
3,497,700 | Koninklijke KPN NV | 12,742,768 | |
253,900 | SK Telecom Co. Ltd. | 11,703,650 | |
308,075 | 1 | Telefonica Brasil, ADR | 3,308,725 |
408,125 | Telenor ASA | 5,633,260 | |
460,250 | TELUS Corp. | 11,524,660 | |
10,479,083 | Vodafone Group PLC | 17,258,055 | |
TOTAL | 108,044,603 | ||
Consumer Staples—16.4% | |||
524,445 | British American Tobacco PLC | 23,145,096 | |
247,800 | Coca-Cola Europacific Partners PLC | 13,165,614 | |
2,742,850 | Coca-Cola Femsa S.A.B. de C.V. | 16,386,997 | |
8,404,420 | Kimberly-Clark de Mexico | 13,003,460 | |
177,610 | Philip Morris International, Inc. | 18,871,063 | |
104,000 | Reckitt Benckiser Group PLC | 8,048,356 | |
316,000 | Unilever PLC | 15,242,682 | |
TOTAL | 107,863,268 | ||
Energy—10.8% | |||
526,165 | Enbridge, Inc. | 24,306,298 | |
355,825 | TC Energy Corp. | 20,595,286 | |
438,279 | TotalEnergies SE | 25,912,671 | |
TOTAL | 70,814,255 | ||
Financials—17.9% | |||
85,425 | Allianz SE | 17,892,692 | |
84,850 | Bank of Montreal | 9,229,957 | |
310,310 | Canadian Imperial Bank of Commerce | 17,070,301 | |
88,561 | Muenchener Rueckversicherungs-Gesellschaft AG | 21,659,085 | |
1,140,100 | Nordea Bank Abp | 11,608,416 | |
66,250 | Royal Bank of Canada | 6,922,767 | |
421,775 | Scor SA | 11,083,079 | |
212,900 | Sumitomo Mitsui Financial Group, Inc. | 6,513,795 |
Shares | Value in U.S. Dollars | ||
COMMON STOCKS—continued | |||
Financials—continued | |||
34,830 | Zurich Insurance Group AG | $15,952,648 | |
TOTAL | 117,932,740 | ||
Health Care—10.3% | |||
620,630 | 1 | Hypermarcas SA | 5,065,541 |
207,565 | Novartis AG | 18,843,488 | |
194,400 | Orion Oyj | 7,980,407 | |
197,981 | Sanofi | 21,141,989 | |
557,300 | Sonic Healthcare Ltd. | 14,650,037 | |
TOTAL | 67,681,462 | ||
Industrials—1.6% | |||
1,077,893 | BAE Systems PLC | 10,269,032 | |
Materials—3.5% | |||
907,000 | Amcor PLC | 11,881,700 | |
314,873 | UPM - Kymmene Oyj | 11,171,912 | |
TOTAL | 23,053,612 | ||
Real Estate—1.5% | |||
266,800 | Vonovia SE | 10,155,964 | |
Utilities—18.5% | |||
554,100 | Algonquin Power & Utilities Corp. | 8,060,592 | |
378,900 | Canadian Utilities Ltd., Class A | 12,021,392 | |
1,049,320 | E.On AG | 10,683,530 | |
345,600 | Emera, Inc. | 17,178,220 | |
1,887,775 | Enel SpA | 12,262,626 | |
163,990 | Fortis, Inc. / Canada | 8,270,484 | |
781,407 | Iberdrola SA | 9,261,681 | |
2,267,095 | Italgas SpA | 14,637,981 | |
651,997 | National Grid-SP PLC | 9,650,353 | |
1,668,325 | Snam Rete Gas SPA | 9,693,959 | |
1,211,275 | Terna SpA | 10,264,429 | |
TOTAL | 121,985,247 | ||
TOTAL COMMON STOCKS (IDENTIFIED COST $609,585,680) | 637,800,183 |
Shares | Value in U.S. Dollars | ||
INVESTMENT COMPANY—0.8% | |||
5,699,128 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Class, 0.83%2 (IDENTIFIED COST $5,697,704) | $5,697,418 | |
TOTAL INVESTMENT IN SECURITIES—97.7% (IDENTIFIED COST $615,283,384)3 | 643,497,601 | ||
OTHER ASSETS AND LIABILITIES - NET—2.3%4 | 14,833,958 | ||
TOTAL NET ASSETS—100% | $658,331,559 |
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | |
Value as of 11/30/2021 | $2,347,400 |
Purchases at Cost | $149,958,954 |
Proceeds from Sales | $(146,608,341) |
Change in Unrealized Appreciation/Depreciation | $(286) |
Net Realized Gain/(Loss) | $(309) |
Value as of 5/31/2022 | $5,697,418 |
Shares held as of 5/31/2022 | 5,699,128 |
Dividend Income | $10,916 |
Gain Distributions Received | $438 |
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Equity Securities: | ||||
Common Stocks | ||||
Domestic | $18,871,063 | $— | $— | $18,871,063 |
International | 214,743,196 | 404,185,924 | — | 618,929,120 |
Investment Company | 5,697,418 | — | — | 5,697,418 |
TOTAL SECURITIES | $239,311,677 | $404,185,924 | $— | $643,497,601 |
ADR | —American Depositary Receipt |
Six Months Ended (unaudited) 5/31/2022 | Year Ended November 30, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $3.52 | $3.38 | $3.54 | $3.34 | $3.75 | $3.36 |
Income From Investment Operations: | ||||||
Net investment income | 0.09 | 0.13 | 0.11 | 0.14 | 0.16 | 0.141 |
Net realized and unrealized gain (loss) | 0.30 | 0.14 | (0.16) | 0.20 | (0.42) | 0.39 |
TOTAL FROM INVESTMENT OPERATIONS | 0.39 | 0.27 | (0.05) | 0.34 | (0.26) | 0.53 |
Less Distributions: | ||||||
Distributions from net investment income | (0.09) | (0.13) | (0.11) | (0.14) | (0.15) | (0.14) |
Net Asset Value, End of Period | $3.82 | $3.52 | $3.38 | $3.54 | $3.34 | $3.75 |
Total Return2 | 11.08% | 7.93% | (1.18)% | 10.55% | (7.04)% | 16.00% |
Ratios to Average Net Assets: | ||||||
Net expenses3 | 1.11%4 | 1.10% | 1.11%5 | 1.11%5 | 1.11%5 | 1.11% |
Net investment income | 4.78%4 | 3.57% | 3.34% | 4.15% | 4.28% | 3.75% |
Expense waiver/reimbursement6 | 0.16%4 | 0.19% | 0.20% | 0.18% | 0.18% | 0.17% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $90,622 | $75,905 | $75,670 | $87,937 | $96,847 | $154,565 |
Portfolio turnover7 | 15% | 27% | 40% | 28% | 24% | 18% |
Six Months Ended (unaudited) 5/31/2022 | Year Ended November 30, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $3.49 | $3.35 | $3.51 | $3.31 | $3.72 | $3.34 |
Income From Investment Operations: | ||||||
Net investment income | 0.07 | 0.09 | 0.08 | 0.11 | 0.12 | 0.111 |
Net realized and unrealized gain (loss) | 0.30 | 0.15 | (0.15) | 0.21 | (0.40) | 0.39 |
TOTAL FROM INVESTMENT OPERATIONS | 0.37 | 0.24 | (0.07) | 0.32 | (0.28) | 0.50 |
Less Distributions: | ||||||
Distributions from net investment income | (0.08) | (0.10) | (0.09) | (0.12) | (0.13) | (0.12) |
Net Asset Value, End of Period | $3.78 | $3.49 | $3.35 | $3.51 | $3.31 | $3.72 |
Total Return2 | 10.54% | 7.19% | (1.96)% | 9.85% | (7.75)% | 14.99% |
Ratios to Average Net Assets: | ||||||
Net expenses3 | 1.86%4 | 1.85% | 1.86%5 | 1.86%5 | 1.86%5 | 1.86% |
Net investment income | 3.84%4 | 2.81% | 2.63% | 3.43% | 3.55% | 3.05% |
Expense waiver/reimbursement6 | 0.17%4 | 0.18% | 0.20% | 0.18% | 0.16% | 0.16% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $30,760 | $31,551 | $38,316 | $51,339 | $59,419 | $89,502 |
Portfolio turnover7 | 15% | 27% | 40% | 28% | 24% | 18% |
Six Months Ended (unaudited) 5/31/2022 | Year Ended November 30, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $3.53 | $3.39 | $3.55 | $3.35 | $3.75 | $3.37 |
Income From Investment Operations: | ||||||
Net investment income | 0.08 | 0.14 | 0.12 | 0.15 | 0.17 | 0.151 |
Net realized and unrealized gain (loss) | 0.31 | 0.14 | (0.16) | 0.20 | (0.41) | 0.38 |
TOTAL FROM INVESTMENT OPERATIONS | 0.39 | 0.28 | (0.04) | 0.35 | (0.24) | 0.53 |
Less Distributions: | ||||||
Distributions from net investment income | (0.09) | (0.14) | (0.12) | (0.15) | (0.16) | (0.15) |
Net Asset Value, End of Period | $3.83 | $3.53 | $3.39 | $3.55 | $3.35 | $3.75 |
Total Return2 | 11.18% | 8.18% | (0.92)% | 10.80% | (6.53)% | 15.94% |
Ratios to Average Net Assets: | ||||||
Net expenses3 | 0.86%4 | 0.85% | 0.86%5 | 0.86%5 | 0.86%5 | 0.86% |
Net investment income | 5.52%4 | 3.79% | 3.63% | 4.40% | 4.55% | 4.09% |
Expense waiver/reimbursement6 | 0.14%4 | 0.18% | 0.18% | 0.15% | 0.14% | 0.14% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $416,972 | $221,818 | $238,949 | $256,100 | $293,943 | $521,928 |
Portfolio turnover7 | 15% | 27% | 40% | 28% | 24% | 18% |
Six Months Ended (unaudited) 5/31/2022 | Year Ended November 30, | Period Ended 11/30/20171 | ||||
2021 | 2020 | 2019 | 2018 | |||
Net Asset Value, Beginning of Period | $3.53 | $3.39 | $3.55 | $3.35 | $3.75 | $3.48 |
Income From Investment Operations: | ||||||
Net investment income | 0.09 | 0.14 | 0.12 | 0.15 | 0.15 | 0.132 |
Net realized and unrealized gain (loss) | 0.29 | 0.14 | (0.16) | 0.20 | (0.39) | 0.27 |
TOTAL FROM INVESTMENT OPERATIONS | 0.38 | 0.28 | (0.04) | 0.35 | (0.24) | 0.40 |
Less Distributions: | ||||||
Distributions from net investment income | (0.09) | (0.14) | (0.12) | (0.15) | (0.16) | (0.13) |
Net Asset Value, End of Period | $3.82 | $3.53 | $3.39 | $3.55 | $3.35 | $3.75 |
Total Return3 | 10.90% | 8.20% | (0.91)% | 10.81% | (6.52)% | 11.68% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.85%5 | 0.84% | 0.85%6 | 0.85%6 | 0.85%6 | 0.85%5 |
Net investment income | 5.70%5 | 3.89% | 3.61% | 4.43% | 3.76% | 4.22%5 |
Expense waiver/reimbursement7 | 0.08%5 | 0.10% | 0.11% | 0.09% | 0.08% | 0.07%5 |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $119,978 | $68,217 | $31,596 | $35,329 | $37,628 | $6,188 |
Portfolio turnover8 | 15% | 27% | 40% | 28% | 24% | 18%9 |
May 31, 2022 (unaudited)
Assets: | ||
Investment in securities, at value including $5,697,418 of investment in an affiliated holding* (identified cost $615,283,384) | $643,497,601 | |
Cash denominated in foreign currencies (identified cost $612,120) | 612,181 | |
Receivable for shares sold | 11,993,282 | |
Income receivable | 4,769,701 | |
TOTAL ASSETS | 660,872,765 | |
Liabilities: | ||
Payable for investments purchased | $1,996,193 | |
Payable for shares redeemed | 371,076 | |
Payable for other service fees (Notes 2 and 5) | 24,850 | |
Payable for distribution services fee (Note 5) | 19,063 | |
Payable for investment adviser fee (Note 5) | 15,375 | |
Payable for administrative fee (Note 5) | 1,497 | |
Accrued expenses (Note 5) | 113,152 | |
TOTAL LIABILITIES | 2,541,206 | |
Net assets for 172,106,561 shares outstanding | $658,331,559 | |
Net Assets Consists of: | ||
Paid-in capital | $760,561,669 | |
Total distributable earnings (loss) | (102,230,110) | |
TOTAL NET ASSETS | $658,331,559 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
Class A Shares: | ||
Net asset value per share ($90,621,604 ÷ 23,708,416 shares outstanding), no par value, unlimited shares authorized | $3.82 | |
Offering price per share (100/94.50 of $3.82) | $4.04 | |
Redemption proceeds per share | $3.82 | |
Class C Shares: | ||
Net asset value per share ($30,759,879 ÷ 8,138,698 shares outstanding), no par value, unlimited shares authorized | $3.78 | |
Offering price per share | $3.78 | |
Redemption proceeds per share (99.00/100 of $3.78) | $3.74 | |
Institutional Shares: | ||
Net asset value per share ($416,972,303 ÷ 108,879,825 shares outstanding), no par value, unlimited shares authorized | $3.83 | |
Offering price per share | $3.83 | |
Redemption proceeds per share | $3.83 | |
Class R6 Shares: | ||
Net asset value per share ($119,977,773 ÷ 31,379,622 shares outstanding), no par value, unlimited shares authorized | $3.82 | |
Offering price per share | $3.82 | |
Redemption proceeds per share | $3.82 |
Six Months Ended May 31, 2022 (unaudited)
Investment Income: | |||
Dividends (including $10,916 received from an affiliated holding* and net of foreign taxes withheld of $2,075,706) | $15,400,953 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $1,839,196 | ||
Administrative fee (Note 5) | 192,224 | ||
Custodian fees | 45,304 | ||
Transfer agent fees (Note 2) | 174,906 | ||
Directors’/Trustees’ fees (Note 5) | 1,544 | ||
Auditing fees | 17,237 | ||
Legal fees | 4,322 | ||
Distribution services fee (Note 5) | 118,853 | ||
Other service fees (Notes 2 and 5) | 143,285 | ||
Portfolio accounting fees | 73,600 | ||
Share registration costs | 40,034 | ||
Printing and postage | 19,392 | ||
Miscellaneous (Note 5) | 15,018 | ||
TOTAL EXPENSES | 2,684,915 | ||
Waiver and Reimbursements: | |||
Waiver/reimbursement of investment adviser fee (Note 5) | $(206,379) | ||
Reimbursement of other operating expenses (Notes 2 and 5) | (122,380) | ||
TOTAL WAIVER AND REIMBURSEMENTS | (328,759) | ||
Net expenses | 2,356,156 | ||
Net investment income | $13,044,797 |
Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions: | |||
Net realized gain on investments (including net realized loss of $(309) on sales of investments in an affiliated holding*) and foreign currency transactions | $8,851,853 | ||
Realized gain distribution from affiliated investment company shares* | 438 | ||
Net change in unrealized appreciation of investments and translation of assets and liabilities in foreign currency (including net change in unrealized appreciation of $(286) of investments in an affiliated holding*) | 27,180,957 | ||
Net realized and unrealized gain (loss) on investments and foreign currency transactions | 36,033,248 | ||
Change in net assets resulting from operations | $49,078,045 |
Six Months Ended (unaudited) 5/31/2022 | Year Ended 11/30/2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $13,044,797 | $15,045,208 |
Net realized gain | 8,852,291 | 16,903,145 |
Net change in unrealized appreciation/depreciation | 27,180,957 | (1,473,405) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 49,078,045 | 30,474,948 |
Distributions to Shareholders: | ||
Class A Shares | (1,984,117) | (2,845,128) |
Class C Shares | (640,145) | (1,040,978) |
Institutional Shares | (7,932,451) | (9,111,910) |
Class R6 Shares | (2,532,561) | (2,065,011) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (13,089,274) | (15,063,027) |
Share Transactions: | ||
Proceeds from sale of shares | 280,949,759 | 125,706,031 |
Net asset value of shares issued to shareholders in payment of distributions declared | 10,804,417 | 12,969,892 |
Cost of shares redeemed | (66,902,198) | (141,127,954) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 224,851,978 | (2,452,031) |
Change in net assets | 260,840,749 | 12,959,890 |
Net Assets: | ||
Beginning of period | 397,490,810 | 384,530,920 |
End of period | $658,331,559 | $397,490,810 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Class A Shares | $42,619 | $(32,905) |
Class C Shares | 16,619 | (12,847) |
Institutional Shares | 109,809 | (76,628) |
Class R6 Shares | 5,859 | — |
TOTAL | $174,906 | $(122,380) |
Other Service Fees Incurred | |
Class A Shares | $103,714 |
Class C Shares | 39,571 |
TOTAL | $143,285 |
Six Months Ended 5/31/2022 | Year Ended 11/30/2021 | |||
Class A Shares: | Shares | Amount | Shares | Amount |
Shares sold | 3,555,959 | $13,388,726 | 4,391,340 | $15,852,515 |
Shares issued to shareholders in payment of distributions declared | 503,374 | 1,906,073 | 742,542 | 2,696,636 |
Shares redeemed | (1,891,209) | (7,080,634) | (5,954,574) | (21,541,322) |
NET CHANGE RESULTING FROM CLASS A SHARE TRANSACTIONS | 2,168,124 | $8,214,165 | (820,692) | $(2,992,171) |
Six Months Ended 5/31/2022 | Year Ended 11/30/2021 | |||
Class C Shares: | Shares | Amount | Shares | Amount |
Shares sold | 765,139 | $2,882,730 | 865,030 | $3,097,449 |
Shares issued to shareholders in payment of distributions declared | 161,016 | 602,772 | 278,956 | 1,001,322 |
Shares redeemed | (1,834,211) | (6,829,723) | (3,535,082) | (12,696,249) |
NET CHANGE RESULTING FROM CLASS C SHARE TRANSACTIONS | (908,056) | $(3,344,221) | (2,391,096) | $(8,597,478) |
Six Months Ended 5/31/2022 | Year Ended 11/30/2021 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 55,441,651 | $210,032,235 | 16,996,144 | $61,662,813 |
Shares issued to shareholders in payment of distributions declared | 1,892,040 | 7,191,271 | 2,188,794 | 7,962,636 |
Shares redeemed | (11,289,816) | (42,405,207) | (26,846,070) | (96,395,034) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 46,043,875 | $174,818,299 | (7,661,132) | $(26,769,585) |
Six Months Ended 5/31/2022 | Year Ended 11/30/2021 | |||
Class R6 Shares: | Shares | Amount | Shares | Amount |
Shares sold | 14,567,626 | $54,646,068 | 12,545,801 | $45,093,254 |
Shares issued to shareholders in payment of distributions declared | 291,108 | 1,104,301 | 360,530 | 1,309,298 |
Shares redeemed | (2,829,595) | (10,586,634) | (2,888,254) | (10,495,349) |
NET CHANGE RESULTING FROM CLASS R6 SHARE TRANSACTIONS | 12,029,139 | $45,163,735 | 10,018,077 | $35,907,203 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 59,333,082 | $224,851,978 | (854,843) | $(2,452,031) |
Short-Term | Long-Term | Total |
$40,700,744 | $97,535,560 | $138,236,304 |
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 |
Percentage of Average Daily Net Assets of Class | |
Class A Shares | 0.05% |
Class C Shares | 0.75% |
Distribution Services Fees Incurred | |
Class C Shares | $118,853 |
Purchases | $281,119,960 |
Sales | $70,630,115 |
Beginning Account Value 12/1/2021 | Ending Account Value 05/31/2022 | Expenses Paid During Period1 | |
Actual: | |||
Class A Shares | $1,000 | $1,110.80 | $5.84 |
Class C Shares | $1,000 | $1,105.40 | $9.76 |
Institutional Shares | $1,000 | $1,111.80 | $4.53 |
Class R6 Shares | $1,000 | $1,109.00 | $4.47 |
Hypothetical (assuming a 5% return before expenses): | |||
Class A Shares | $1,000 | $1,019.40 | $5.59 |
Class C Shares | $1,000 | $1,015.66 | $9.35 |
Institutional Shares | $1,000 | $1,020.64 | $4.33 |
Class R6 Shares | $1,000 | $1,020.69 | $4.28 |
Class A Shares | 1.11% |
Class C Shares | 1.86% |
Institutional Shares | 0.86% |
Class R6 Shares | 0.85% |
Annual Evaluation of Adequacy and Effectiveness
IMPORTANT NOTICE ABOUT FUND DOCUMENT DELIVERY
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 314172370
CUSIP 314172362
CUSIP 31421N824
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 Equity Funds
By /S/ Lori A. Hensler
Lori A. Hensler
Principal Financial Officer
Date July 25, 2022
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 25, 2022
By /S/ Lori A. Hensler
Lori A. Hensler
Principal Financial Officer
Date July 25, 2022