Federated Hermes Conservative Municipal Microshort Fund Class A Shares FHMAX Strategy

The investment seeks to provide current income consistent with preservation of capital with an emphasis on maintaining liquidity on a tax-exempt basis. The fund pursues its objective by investing its assets so that, normally, distributions of annual interest income are exempt from federal regular income tax. It seeks to invest all of its assets in securities or issuers rated investment grade. Under normal circumstances, the fund will invest at least 80% of its assets in investments the income from which is exempt from federal regular income tax.