Federated Hermes, Inc. (NYSE: FHI), a global leader in active, responsible investing, has completed the acquisition of substantially all of the assets of C.W. Henderson & Associates, Inc., a Chicago-based registered investment advisor specializing in the management of separately managed accounts that invest in tax-exempt municipal securities.
The 11-person, Chicago-based C.W. Henderson team joins Federated Hermes and continues to manage two municipal bond products—intermediate and ultrashort—in approximately 1,500 direct and sub-advised SMA account portfolios available through more than 50 financial intermediaries. Founded in 1990, C.W. Henderson focuses on the following goals: generating tax-free income; utilizing highly liquid municipal bonds with high credit quality and conservative durations; minimizing taxes with a proactive, opportunistic approach to tax-loss harvesting; extracting value across the yield curve through tax-efficient active management; and exceptional client service.
C.W. Henderson's municipal bond products join Federated Hermes' existing $13.3 billion in municipal bond assets under management across fixed-income, liquidity and multi-asset categories, bringing the firm's total municipal bond managed assets to approximately $16.8 billion1. With the acquisition, Federated Hermes' total SMA assets are approximately $29 billion2. The newly acquired business is now branded as Federated Hermes CW Henderson, a division of Federated Investment Counseling.