1210-AC38 comment 3570 Federated Hermes, Inc. 06012026

Summary: Federated Hermes, Inc. expresses broad support for the Proposed Rule, praising its process-based approach to fiduciary prudence and its goal of reducing litigation risk while expanding access to alternative investments. However, the company requests specific clarifications regarding liquidity and valuation factors to ensure the rule is operationally workable and doesn't create unintended barriers to entry.