Federated Hermes Intermediate Municipal Fund Class A is an open-end municipal bond fund focused on delivering current income that is generally exempt from U.S. federal regular income tax. The portfolio primarily invests in investment-grade, tax-exempt securities issued by state and local governments and related entities, targeting an intermediate dollar-weighted average maturity to balance income generation with interest-rate sensitivity. According to the sponsor, the strategy emphasizes capital preservation while seeking steady tax-advantaged income through diversified exposure across the municipal market, with risks typical of fixed income such as rate and credit risk and potential exposure to the Alternative Minimum Tax on certain holdings. The fund aligns with the Muni National Intermediate category, which finances public infrastructure and essential services nationwide, providing investors access to a broad cross-section of municipal issuers and sectors. Federated Hermes highlights that historical share-class designations were consolidated, with current A Shares reflecting prior service-share performance history methodology as disclosed in fund materials.
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