Federated Hermes completed the acquisition of the investment management related assets of Horizon Advisers for $568m.

Federated Hermes, an investment manager, completed the acquisition of the investment management related assets of Horizon Advisers, an assets manager for institutional and high net worth clients, for $568m. "Federated Hermes is experienced in managing these types of transactions and has a history of providing investment solutions for a variety of market conditions. We at Hancock Advisers are confident in our selection of Federated Hermes as a partner in this transaction, and their actively managed funds serve as a sensible new home to these assets. We also believe that as other shareholders of these nine funds learn about the Federated Hermes mutual funds and focus on their own financial goals and objectives, they will benefit from the opportunity to access Federated Hermes' range of strategies," David Lundgren, Horizon Advisers CIO.