PBRIX – Federated Hermes Prudent Bear IS Investment Strategy | Morningstar

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Strategy

The investment seeks capital appreciation. The fund pursues its investment objective primarily through short positions in domestically traded equity securities and indices. It holds short-term liquid securities such as money market funds, U.S. Treasury securities, government agency securities or other equity securities for liquidity purposes and to cover its obligation to purchase securities subject to short sales in the future. The fund also seeks capital appreciation through long positions on equity securities which the fund's adviser believes are undervalued.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
PBRIX	Federated Hermes Prudent Bear Fund Institutional Shares	Institutional	Open	—	—	Dec 5, 2008	$48.68M	1.560%	High	$1M	−$5.56M
BEARX	Federated Hermes Prudent Bear Fund Class A Shares	Front Load	Open	—	—	Dec 28, 1995	$23.28M	1.810%	High	$1,500	−$1.92M
PBRCX	Federated Hermes Prudent Bear Fund Class C Shares	Level Load	Open	—	—	Feb 8, 1999	$6.84M	2.560%	Above Average	$1,500	−$828,297.75

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