0001145549-24-014959.txt : 20240307 0001145549-24-014959.hdr.sgml : 20240307 20240307103637 ACCESSION NUMBER: 0001145549-24-014959 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240307 DATE AS OF CHANGE: 20240307 EFFECTIVENESS DATE: 20240307 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Federated Hermes Adviser Series CENTRAL INDEX KEY: 0001707560 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-23259 FILM NUMBER: 24728585 BUSINESS ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 BUSINESS PHONE: 1-800-341-7400 MAIL ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 FORMER COMPANY: FORMER CONFORMED NAME: Federated Adviser Series DATE OF NAME CHANGE: 20200616 FORMER COMPANY: FORMER CONFORMED NAME: Federated Hermes Adviser Series DATE OF NAME CHANGE: 20200615 FORMER COMPANY: FORMER CONFORMED NAME: Federated Adviser Series DATE OF NAME CHANGE: 20180820 0001707560 S000072284 Federated Hermes MDT Market Neutral Fund C000228383 Institutional Shares QQMNX C000228384 Class A Shares QAMNX N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0001707560 XXXXXXXX true false false N-1A S000072284 true Federated Hermes Adviser Series 811-23259 0001707560 2549001OZ5PPTI84LJ34 Federated Hermes Funds 4000 Ericsson Drive Warrendale 15086-7561 US-PA US 8003417400 Federated Hermes Adviser Series Federated Hermes Funds 4000 Ericsson Drive Warrendale 15086-7561 8003417400 Registrant - All records required to be maintained that are not maintained by other service providers. Federated Administrative Services 1001 Liberty Avenue Pittsburgh 15222-3779 4122881900 Administrator - Records include but are not limited to those related to calculation of NAV, income and expense accruals, securities pricing, preparation of regulatory documents, financial books and records, performance calculations and tax related documents. Federated Securities Corp. 1001 Liberty Avenue Pittsburgh 15222-3779 4122881900 Distributor - Records include but are not limited to trade blotters, asset and liability ledgers, income and expense ledgers, capital account ledgers, customer account ledgers, securities records, order tickets and trade confirmations. Federated Advisory Services Company 1001 Liberty Avenue Pittsburgh 15222-3779 4122881900 Advisor - All investment advisor records required to be maintained that are not maintained by other service providers. State Street Bank and Trust Company 1 Iron Street Boston 02110 6177863000 Custodian - Fund securities and cash records SS&C GIDS, Inc. P.O. Box 219318 Kansas City 64121-9318 8168714100 Transfer Agent and Dividend Disbursing Agent - Fund shareholder records Federated MDTA LLC 125 High Street Oliver Street Tower, 21st Floor Boston 02110-2704 4122881900 Advisor - All investment advisor records required to be maintained that are not maintained by other service providers. N N N-1A 11 Y J. Christopher Donahue 000814703 Y John T. Collins N/A N G. Thomas Hough N/A N Maureen Lally-Green N/A N Thomas M. O'Neill N/A N P. Jerome Richey N/A N John S. Walsh N/A N Madelyn A. Reilly N/A N John B. Fisher N/A Y Stephen Van Meter 006020413 1001 Liberty Avenue Pittsburgh 15222-3779 XXXXXX N N N N N N N Federated Securities Corp. 8-15561-1 000005009 254900FMT7XR4QROXG14 Y N KPMG LLP 00185 N/A N N N N N N N Federated Hermes MDT Market Neutral Fund S000072284 254900LP0W4M9IA05C50 N 2 0 0 N/A N N Y N Citibank N.A. E57ODZWZ7FF32TWEFA76 N N Revenue sharing split N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Rule 22d-1 (17 CFR 270.22d-1) Rule 32a-4 (17 CFR 270.32a-4) Rule 18f-4 (17 CFR 270.18f-4) Y Y N N Federated Advisory Services Company 801-62500 000128611 2549006YWZSXL9PUIY05 N Federated MDTA LLC 801-55094 000109355 254900YXRK11HH8HRA94 N SS&C GIDS, Inc. 084-00896 N/A N N N Bloomberg Finance L.P. 5493001KJTIIGC8Y1R12 N ICE Data Pricing & Reference Data, LLC 5493000NQ9LYLDBCTL34 N IHS Markit (Markit North America) 549300HLPTRASHS0E726 N JPMorgan PricingDirect 549300WIC0TOJ7N7GD54 N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N SS&C GIDS, Inc. 084-00896 SEC File Number N N N Federated Administrative Services 801-48206 SEC File Number Y N N Federated Securities Corp. 8-15561-1 000005009 254900FMT7XR4QROXG14 0.000000000000 Citigroup Global Markets Inc. 8-08177-1 000007059 MBNUM2BPBDO7JBLYG310 83076.030000000000 Goldman Sachs & Co. LLC 8-00129-1 000000361 FOR8UP27PHTHYVLBNG30 62122.550000000000 Jefferies LLC 8-15074-1 000002347 58PU97L1C0WSRCWADL48 95870.230000000000 JonesTrading 8-26089-1 000006888 2138008JJ5PA8H5UIL69 51461.820000000000 Nomura Securities International, Inc. 8-15255-1 000004297 OXTKY6Q8X53C9ILVV871 77311.150000000000 Virtu Americas LLC 8-68193-1 000149823 549300RA02N3BNSWBV74 56321.390000000000 426163.170000000000 State Street Bank and Trust Company N/A N/A 571474TGEMMWANRLN572 726938031.240000000000 726938031.240000000000 Y 312100636.577692000000 0.000000000000 Committed 500000000.000000000000 N N N N true INTERNAL CONTROL RPT 2 icr_fhadvisorseries.htm INTERNAL CONTROL REPORT - FEDERATED HERMES ADVISER SERIES

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Federated Hermes Adviser Series and the Shareholders of Federated Hermes MDT Market Neutral Fund:

In planning and performing our audit of the financial statements of Federated Hermes MDT Market Neutral Fund (“the Fund”), a series of the Federated Hermes Adviser Series, as of and for the year ended December 31, 2023, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.

Management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and trustees of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of a company’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Fund's internal control over financial reporting and its operations, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of December 31, 2023.

This report is intended solely for the information and use of management and the Board of Trustees of Federated Hermes MDT Market Neutral Fund, a series of the Federated Hermes Adviser Series, and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ KPMG LLP

Boston, Massachusetts
February 23, 2024