Federated Hermes, Inc. (FHI) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings. Welcome to the Federated Hermes Q1 2025 Analyst Call and Webcast. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Ray Hanley, President of Federated Investors Management Company. You may begin. Thank you, Holly. Hello and welcome to our call. Leading today's call will be Chris Donahue, CEO and President of Federated Hermes, and Tom Donahue, Chief Financial Officer. And joining us for the Q&A are Sakura Nasebi, who is the CEO of Federated Hermes Limited, and Debbie Cunningham, our Chief Investment Officer for the Money Market. During today's call, we may make forward-looking statements, and we want to note that Federated Hermes' actual results may be materially different than the results implied by such statements. Please review the risk disclosures in our SEC filings. No assurance can be given as to future results, and Federated Hermes assumes no duty to update any of these forward-looking statements. Chris? Thank you, Ray, and good morning, all. I will review Federated Hermes' business performance. Tom will comment on our financial results. We ended Q1 with record assets under management of $840 billion, driven by record money market assets of $637 billion. Looking first at equities, assets increased by $1.5 billion from year end due mainly to net sales of $1.4 billion. Equity sales in the first quarter were led again by our MDT fundamental quant strategies. Looking at the MDT strategies in funds and SMAs on a combined basis, net sales were $2.5 billion in Q1, more than...