On Sept. 1, 2021, Federated Hermes announced the abrupt departure of manager Jonathan Art from the firm and its New York-based Kaufmann team. Art will leave on Sept. 2, 2021. The Kaufmann team's eight experienced managers can pick up the slack, however, keeping Federated Hermes Kaufmann and Federated Hermes Kaufmann Large Cap's Morningstar Analyst Ratings at Neutral for all share classes.
Will KLCKX outperform in future?
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The Process Pillar is our assessment of how sensible, clearly defined, and repeatable KLCKX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the KLCKX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of KLCKX’s parent organization’s priorities and whether they’re in line with investors’ interests.