FMN - Federated Hermes Premier Municipal Income Fund
A closed-end fund run by Federated Hermes. Invests in tax-free municipal bonds. Listed on the New York Stock Exchange.
Is anyone targeting this fund?
Not right now - Saba was in this fund until Oct 21, 2024 and has since sold down.
Is the fund doing anything you need to act on?
Nothing right now.
What this means for you
Saba owned more than 5% of this fund and has since sold down below that level, so it no longer has to report its holding.
Nothing is required of you. If a large investor buys in again, the notice appears here the day it is filed.
What happened, and when
-
March 30, 2026
The fund said it will repay some borrowed money on April 2, 2026.
Original document → -
Oct 21, 2024
Saba sold down below 5% and stopped reporting.
Original document → -
Oct 16, 2024
The fund said it will repay some borrowed money on Oct 17, 2024.
Original document → -
Oct 15, 2024
The buy-back ended.
Original document → -
Oct 15, 2024
Saba cut its stake to 9.7% (from 14.4%). It has said it may push for changes.
Original document →
Show all 7 events
-
Sept 4, 2024
Saba raised its stake to 14.4% (from 13.9%). It has said it may push for changes.
Original document → -
Jan 19, 2024
Saba now owns 13.9%. It has said it may push for changes.
Original document →
About this fund
- Run by Federated Hermes. At its last yearly report (Nov 30, 2025) the fund was run by Federated Advisory Services Company. As of Nov 30, 2025, from the fund's yearly report. Original document →
- Size: about $97.4 million of holdings, as of May 31, 2026. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
- Borrowing: the fund borrows about 38% on top of its own money, as of May 31, 2026. Borrowed money makes gains and losses bigger. About 97% of that is money the fund has borrowed by selling preferred shares. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
- Costs: 0.6% a year in management fees; 1% a year in total, including interest on borrowed money. Fiscal year ended Nov 30, 2025. As of Nov 30, 2025, from the fund's yearly report. Original document →
- Payouts: last fiscal year (ended Nov 30, 2025) the fund paid $0.51 a share, all of it income. As of Nov 30, 2025, from the fund's annual report. Original document →
- Value of holdings per share at the last fiscal year end (Nov 30, 2025): $12.51. The shares traded at $11.15, about 10.9% below that. As of Nov 30, 2025, from the fund's yearly report. Original document →
- How the holdings did: down 0.8% over the last three months we have (March-May 2026), before the share price is taken into account. Over the last 12 months: +9.8%. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
- How the holdings did over the fiscal year (ended Nov 30, 2025): the value of the holdings returned +1.1%. How the share price did: the shares returned +3.1% over the same year, counting payouts and the change in the market price. As of Nov 30, 2025, from the fund's annual report. Original document →
- First reported to the regulator in 2002.
+7%-5%
June 2024May 2026
What the fund holds
Almost all tax-free municipal bonds (100%). About 100% issued in the U.S.
- Puerto Rico Sales Tax Financing, Pr Prcgen 5 07/01/2058 - 3%
- Indianapolis Local Public Improvement Bond Bank (in) - 2.7%
- Lower Alabama Gas District (Al) - 2.7%
- Denver City and County School District N.1 (Co), Denver Co SD#1- 5.5 12/44 - 2.3%
- Oregon (or), State of, State of Oregon - 2.3%
- Illinois (Il), State of, State of Illinois - 4.3%
- Fort Bend Tex Indpt Sch Dist, Fort Bend Independent School District - 2.2%
- Clifton Tex Higher Ed Fin, Clifton Higher Education Finance Corp - 2.2%
- Miami-Dade (FL), County of, County of Miami-Dade FL Aviation Revenue - 2.1%
- Jefferson (Al), County of, Al Jefutl 5.25 10/01/2049 - 2.1%
Show all 24
- Dormitory Authority of the State of New York (NY), New York State Dormitory Authority - 2.1%
- Delaware (de), State of, State of Delaware - 2.1%
- New Jersey Transportation Trust Fund Authority (NJ) - 2.1%
- Oregon St Hsg & Cmnty Svcs Dept, State of Oregon Housing & Community Services Department - 2.1%
- Chesapeake Bay Bridge & Tunnel District (VA) - 2.1%
- Clark Cnty Nev, County of Clark NV - 2.1%
- Unified Government of Wyandotte County/Kansas City (Mo), Wyandotte County-Kansas City Unified Government Utility System Revenue - 2.1%
- Idaho Hsg & Fin Assn, Idaho Housing & Finance Association - 2%
- Phoenix City Industrial Development Authority (AZ), Industrial Development Authority of the City of Phoenix/The - 1.9%
- New York State Thruway Authority (NY) - 1.9%
- Northampton County General Purpose Authority (PA) - 1.9%
- M-S-R Energy Authority (CA) - 1.9%
- Colorado High Performance Transportation Enterprise (Co) - 1.8%
- Texas Municipal Gas Acquisition and Supply Corp IV (TX), Texas Municipal Gas Acquisition & Supply Corp IV - 1.8%
As of May 31, 2026, from the fund's quarterly holdings report. Original document →
Details: all notices, events and fund facts
| Date | Investor | Stake | Type of notice |
|---|---|---|---|
| Oct 21, 2024 | Saba | 3.7% | Sold down below 5% |
| Oct 15, 2024 | Saba | 9.7% | Updated notice |
| Sept 4, 2024 | Saba | 14.4% | Updated notice |
| Jan 19, 2024 | Saba | 13.9% | Updated notice |
| Date | What | Deadline | Document |
|---|---|---|---|
| March 30, 2026 | Repaying borrowed money | April 2, 2026 | Original document → |
| Oct 16, 2024 | Repaying borrowed money | Oct 17, 2024 | Original document → |
| Oct 15, 2024 | Buy-back results | none | Original document → |
- Run by
- Federated Advisory Services Company
- Fund family
- Federated Hermes Funds
- Exchange
- New York Stock Exchange
- Regulator's file number
- 811-21235
- Auditor
- Ernst & Young LLP
- Fiscal year end
- Nov 30, 2025
- Number of holdings
- 142
- Preferred share classes
- 1
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