Federated Hermes Institutional High Yield Bond Fund Institutional Shares
FIHBX
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USD
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Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- Pittsburgh, PA 15222-3779 Pittsburgh PA United States of America 15222-3779
- IPO Date
- Nov 4, 2002
- CIK
- 0000925723
- Website
- federatedhermes.com
- Similar Companies
- Business
- Federated Hermes Institutional High Yield Bond Fund Institutional Shares (FIHBX) is a mutual fund that seeks a high level of current income by investing primarily in high yield, lower-rated fixed-income securities. The fund offers institutional-class shares with a focus on non-investment grade corporate bonds, U.S. dollar-denominated debt obligations of emerging market issuers, and fixed-income securities of foreign issuers; it may also allocate to senior secured floating rate loans, asset-backed securities, and U.S. government obligations for diversification and liquidity management. Managed within the high yield bond segment of the fixed-income market, it targets institutional investors such as pension funds and endowments seeking enhanced yield potential with managed credit risk. Federated Hermes, Inc., the fund's adviser, founded in 1955 and headquartered in Pittsburgh, Pennsylvania, operates globally with offices across the United States, Europe, and Asia, providing asset management services through a range of equity, fixed-income, and alternative investment products. The firm emphasizes responsible investing, integrating environmental, social, and governance (ESG) factors into its high yield strategies. FIHBX maintains a portfolio duration typically between 3 and 5 years, with flexibility to adjust based on interest rate and credit market conditions. Recent developments include the 2022 completion of Federated Investors' rebranding to Federated Hermes following its 2018 merger with Hermes Investment Management, strengthening its global fixed-income capabilities; in 2024, the firm launched enhancements to its ESG integration framework for high yield funds like FIHBX amid rising demand for sustainable fixed-income strategies. Additionally, Federated Hermes expanded its high yield offerings through strategic hires in credit research during 2025, bolstering coverage of below-investment-grade sectors such as energy and telecommunications. The fund continues to operate without significant structural changes, maintaining its institutional share class minimum investment of $1 million and a competitive expense ratio.