0001145549-24-008548.txt : 20240226 0001145549-24-008548.hdr.sgml : 20240226 20240226135836 ACCESSION NUMBER: 0001145549-24-008548 CONFORMED SUBMISSION TYPE: N-CEN/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231031 FILED AS OF DATE: 20240226 DATE AS OF CHANGE: 20240226 EFFECTIVENESS DATE: 20240226 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Federated Hermes Institutional Trust CENTRAL INDEX KEY: 0000925723 ORGANIZATION NAME: IRS NUMBER: 251737663 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: N-CEN/A SEC ACT: 1940 Act SEC FILE NUMBER: 811-07193 FILM NUMBER: 24676762 BUSINESS ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 BUSINESS PHONE: 8003417400 MAIL ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED INSTITUTIONAL TRUST DATE OF NAME CHANGE: 19940621 0000925723 S000010934 Federated Hermes Institutional High Yield Bond Fund C000030278 Institutional Shares FIHBX C000170849 Class R6 Shares FIHLX C000240309 Class A Shares FIHAX C000240310 Class C Shares FIHCX N-CEN/A 1 primary_doc.xml X0404 N-CEN/A 0001145549-24-001833 LIVE 0000925723 XXXXXXXX true false false N-1A S000010934 true Federated Hermes Institutional Trust 811-07193 0000925723 2549002CIMJQ7MNS8F06 Federated Hermes Funds 4000 Ericsson Drive Warrendale 15086-7561 US-PA US 8003417400 Federated Hermes Institutional Trust 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 Investment Management 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. N N N-1A 3 Y John B. Fisher N/A Y Madelyn A. Reilly N/A N John S. Walsh N/A N P. Jerome Richey N/A N Thomas M. O'Neill N/A N Maureen Lally-Green N/A N G. Thomas Hough N/A N John T. Collins N/A N J. Christopher Donahue 000814703 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 Ernst & Young LLP 00042 N/A N N N N N N N Federated Hermes Institutional High Yield Bond Fund S000010934 UFXPUD68LVN5P97NGY16 N 4 2 0 Fund of Funds 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 17e-1 (17 CFR 270.17e-1) Rule 22d-1 (17 CFR 270.22d-1) Rule 32a-4 (17 CFR 270.32a-4) Rule 12d1-4 (17 CFR 270.12d1-4) Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4)) Y Y N N Federated Advisory Services Company 801-62500 000128611 2549006YWZSXL9PUIY05 N Federated Investment Management Company 801-34612 000105138 549300SP92SGS5AXSV67 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)) Clearstream Banking S.A. 549300OL514RA0SXJJ44 LU N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) 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 Cowen and Company 8-22522-1 000007616 549300WR155U7DVMIW58 1049.880000000000 Nomura Securities International, Inc. 8-15255-1 000004297 OXTKY6Q8X53C9ILVV871 4496.690000000000 5546.570000000000 Barclays Capital Inc. 8-41342-1 000019714 AC28XWWI3WIBK2824319 142432989.250000000000 BofA Securities, Inc. 8-69787-1 000283942 549300HN4UKV1E2R3U73 311220608.520000000000 Citigroup Global Markets Inc. 8-08177-1 000007059 MBNUM2BPBDO7JBLYG310 162641078.990000000000 Deutsche Bank Securities Inc. 8-17822-1 000002525 9J6MBOOO7BECTDTUZW19 69559637.620000000000 Goldman Sachs & Co. LLC 8-00129-1 000000361 FOR8UP27PHTHYVLBNG30 238501768.000000000000 J.P. Morgan Securities LLC 8-35008-1 000000079 ZBUT11V806EZRVTWT807 207636400.930000000000 Jefferies LLC 8-15074-1 000002347 58PU97L1C0WSRCWADL48 98636331.250000000000 Morgan Stanley & Co. LLC 8-15869-1 000008209 9R7GPTSO7KV3UQJZQ078 159203596.500000000000 State Street Bank and Trust Company N/A N/A 571474TGEMMWANRLN572 2498127010.590000000000 Wells Fargo Securities, LLC 8-65876-1 000126292 VYVVCKR63DVZZN70PB21 93284332.000000000000 4219669805.210000000000 N 7525685737.280000000000 0.000000000000 Committed 500000000.000000000000 N N N N true INTERNAL CONTROL RPT 2 icr_fhinsttrust.htm INTERNAL CONTROL REPORT - FEDERATED HERMES INSTITUTIONAL TRUST

Report of Independent Registered Public Accounting Firm

 

To the Shareholders and Board of Trustees of

Federated Hermes Institutional Trust:

 

In planning and performing our audits of the financial statements of Federated Hermes Institutional High Yield Bond Fund (the “Fund”) (one of the portfolios constituting Federated Hermes Institutional Trust (the “Trust”)) as of and for the year ended October 31, 2023, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Trust’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 Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

 

The management of the Trust 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 U.S. generally accepted accounting principles. 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 U.S. generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a 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 the Funds’ annual or interim financial statements will not be prevented or detected on a timely basis.

 

Our consideration of the Trust’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 PCAOB. However, we noted no deficiencies in the Trust’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of October 31, 2023.

 

This report is intended solely for the information and use of management and the Board of Trustees of the Trust 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/ Ernst & Young LLP

 

Boston, Massachusetts

December 22, 2023