Federated Hermes Premier Municipal Income Fund
FMN
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- Federated Hermes Premier Municipal Income Fund (NYSE: FMN) is a diversified, closed-end management investment company that seeks current income exempt from regular federal income tax, including the federal alternative minimum tax (AMT), through investments primarily in long-term, tax-exempt municipal bonds. The fund invests across various municipal sectors including general obligation state and local bonds, special tax bonds, hospital bonds, and others, with up to 20% of assets allocated to non-investment grade securities; it issues common shares traded on the New York Stock Exchange and preferred shares to provide leverage, with shares frequently trading at a discount or premium to net asset value. Portfolio holdings are diversified among states, sectors, and issuers within the U.S. fixed income markets, targeting investors seeking tax-advantaged income. Established in 2002 and externally managed by Federated Investment Management Company, a subsidiary of Federated Hermes, Inc. (NYSE: FHI), the fund is headquartered in Warrendale, Pennsylvania, with operations centered in the United States. Federated Hermes, Inc., the ultimate parent with approximately $845.7 billion in assets under management as of June 30, 2025, provides investment advisory services across equity, fixed-income, multi-asset, and alternative strategies globally. Recent developments include consistent monthly tax-free dividend declarations, such as $0.0450 per share payable on December 1, 2025, to shareholders of record November 21, 2025, and regular releases of month-end portfolio composition and performance data as of November 30, 2025. In October 2025, parent company Federated Hermes agreed to acquire an 80% majority stake in FCP Fund Manager, L.P., a U.S.-based real estate investment manager focused on multifamily assets, for up to $331 million, marking a strategic expansion into U.S. private markets real estate complementary to its existing global alternatives platform with $19 billion in assets. This transaction, expected to enhance Federated Hermes' offerings amid rising demand for private markets, represents no direct operational change to FMN but underscores the parent's growth in diversified asset classes.