Performance quoted represents past performance which is no guarantee of future results. Total Return at Market Price since inception includes a 4.5% commission paid at the fund's initial public offering. Fund performance changes over time and current performance may be lower or higher than what is stated. Investment return, price, yields, and NAV will fluctuate.
The fund is a closed-end fund. Unlike open-end funds, closed-end funds are not continually offered. There is a one-time public offering and once issued, shares of closed-end funds are bought and sold in the open market. Consequently, shares of closed-end funds may trade at, above or below their net asset values (“NAV”). If a closed-end fund’s shares trade at a price below their NAV, they are said to be trading at a “discount.” Conversely, if a closed-end fund's shares trade at a price above their NAV, they are said to be trading at a “premium.” Shares of closed-end funds frequently trade at a discount.
Common Shares are only available for purchase and sale on the New York Stock Exchange at the current market price. Common Shares may trade at a discount to NAV.
Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
Consult your investment professional for further information.
Federated Investment Management Company is the advisor to the fund.
Federated Securities Corp.
|Not FDIC Insured ||May Lose Value ||No Bank Guarantee |