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IMPORTANT INFORMATION REGARDING THE
FEDERATED HERMES FUNDS

SUPPLEMENT TO CURRENT PROSPECTUSES

With respect to “Appendix B: Sales Charge Waivers and Exchange Features for Shareholders Purchasing Through Certain Financial Intermediaries” (“Appendix B”), the following revisions are incorporated. No other changes apply to Appendix B, and, accordingly, the disclosures provided for other financial intermediaries listed on Appendix B remain unchanged.

1. Please replace the introductory paragraph in its entirety and replace it with the following:

“The term “fund family,” used herein, shall refer to the Federated Hermes mutual funds.
The following Appendix applies to certain share classes offered by the Fund.”

2. Please add the following disclosure regarding U.S. Bancorp Investments, Inc.:

U.S. Bancorp Investments, Inc.

Effective November 1, 2021, shareholders purchasing Fund shares through a U.S. Bancorp Investments, Inc. (USBI) platform or who own shares for which USBI is the broker-dealer, where the shares are held in an omnibus account, will be eligible for the following front-end sales charge waivers and discounts, which may differ from those disclosed elsewhere in the Funds’ Prospectus or SAI. All other sales charge waivers and reductions described elsewhere in the Fund’s Prospectus or SAI still apply.

USBI Conversion of Class C Shares

Class C (i.e., level-load) shares that are no longer subject to a contingent deferred sales charge are systematically converted to the Class A shares of the same fund pursuant to USBI’s intra-fund share class policy. No front-end sales charge will apply to such conversions.

The Federated Hermes Funds include all of the share classes of the following portfolios of the listed registrants:

FEDERATED HERMES ADVISER SERIES

Federated Hermes Emerging Markets Equity Fund
Federated Hermes Global Equity Fund
Federated Hermes Global Small Cap Fund

Federated Hermes International Developed Equity Fund
Federated Hermes International Equity Fund
Federated Hermes International Growth Fund

Federated Hermes MDT Large Cap Value Fund
Federated Hermes MDT Market Neutral Fund
Federated Hermes SDG Engagement Equity Fund
Federated Hermes U.S. SMID Fund

FEDERATED HERMES EQUITY FUNDS

Federated Hermes Clover Small Value Fund
Federated Hermes International Strategic Value Dividend Fund
Federated Hermes Kaufmann Fund
Federated Hermes Kaufmann Large Cap Fund
Federated Hermes Kaufmann Small Cap Fund
Federated Hermes MDT Mid Cap Growth Fund
Federated Hermes Prudent Bear Fund
Federated Hermes Strategic Value Dividend Fund

FEDERATED HERMES EQUITY INCOME FUND, INC.

FEDERATED HERMES FIXED INCOME SECURITIES, INC.

Federated Hermes Municipal Ultrashort Fund

Federated Hermes Strategic Income Fund

FEDERATED HERMES GLOBAL ALLOCATION FUND

FEDERATED HERMES GOVERNMENT INCOME SECURITIES, INC.

FEDERATED HERMES HIGH INCOME BOND FUND, INC.

FEDERATED HERMES HIGH YIELD TRUST

Federated Hermes Opportunistic High Yield Bond Fund

FEDERATED HERMES INCOME SECURITIES TRUST

Federated Hermes Capital Income Fund
Federated Hermes Floating Rate Strategic Income Fund
Federated Hermes Fund for U.S. Government Securities
Federated Hermes Muni and Stock Advantage Fund
Federated Hermes Real Return Bond Fund
Federated Hermes Short-Term Income Fund

FEDERATED HERMES INDEX TRUST

Federated Hermes Max-Cap Index Fund

FEDERATED HERMES INSTITUTIONAL TRUST

Federated Hermes Government Ultrashort Fund

FEDERATED HERMES INTERNATIONAL SERIES, INC.

Federated Hermes Global Total Return Bond Fund

FEDERATED HERMES INVESTMENT SERIES FUNDS, INC.

Federated Hermes Corporate Bond Fund

FEDERATED HERMES MDT SERIES

Federated Hermes MDT All Cap Core Fund
Federated Hermes MDT Balanced Fund
Federated Hermes MDT Large Cap Growth Fund
Federated Hermes MDT Small Cap Core Fund
Federated Hermes MDT Small Cap Growth Fund

FEDERATED HERMES MONEY MARKET OBLIGATIONS TRUST

Federated Hermes Government Reserves Fund

FEDERATED HERMES MUNICIPAL BOND FUND, INC.

FEDERATED HERMES SHORT-INTERMEDIATE DURATION MUNICIPAL TRUST

Federated Hermes Short-Intermediate Municipal Fund

FEDERATED HERMES TOTAL RETURN SERIES, INC.

Federated Hermes Core Bond Fund

Federated Hermes Total Return Bond Fund

FEDERATED HERMES WORLD INVESTMENT SERIES, INC.

Federated Hermes Emerging Market Debt Fund
Federated Hermes International Leaders Fund
Federated Hermes International Small-Mid Company Fund

October 28, 2021

Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561

Federated Securities Corp., Distributor

Q455566 (10/21)