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FHI - Federated Hermes: Fee Waivers More Than Offset Fixed Income Inflows
Federated Hermes Inc.
Federated Hermes saw decent asset growth in the first five months of 2021, which is largely the result of strong fixed income net inflows.
The company witnessed negative top-line growth in 1Q 2021 despite an increase in assets, thanks to yield-related fee waivers as a result of the low-interest rate environment.
Federated Hermes is currently valued at 11.0 times consensus forward FY 2021 normalized P/E, and it offers a consensus forward FY 2021 dividend yield of 3.4%.