Federated Institutional High Yield Bond Fund (IS) FIHBX

Share Classes Product Type Asset Class Category
Mutual Fund Fixed Income High Yield Bond

Strong Income Potential

Federated's high-yield management process targets the best risk-adjusted returns, primarily outside the investment-grade universe. Our proprietary credit analysis is at the heart of this process, guiding diligent, continuous evaluation of all factors that influence performance and add value for investors.

Active Management

By applying disciplined investment criteria, our high yield team positions the fund for changes in a security, industry or the overall bond market that have potential to benefit performance. They select and maintain each portfolio holding based on a comprehensive review of the issuer's business model, earnings outlook, free cash flow, management strength and overall financial position.

Consistent Process Delivered by an Experienced Team

Managing a high-yield bond portfolio is a specialized effort requiring experience in evaluating the risk and reward potential of each security and the ability to do so through multiple market and credit cycles. Stability of management and consistency of process are Federated hallmarks, and the continuity of its high-yield investment management team and approach dates back to Federated’s development of one of the industry’s first high-yield bond funds in 1972.


Chart the fund's growth

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High-yield, lower-rated securities generally entail greater market, credit/default and liquidity risks and may be more volatile than investment-grade securities.
Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
Investors should carefully consider the fund’s investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, contact us or visit FederatedInvestors.com. Please carefully read the summary prospectus or the prospectus before investing.
Federated Securities Corp., Distributor
97638
Copyright © 2014 Federated Investors, Inc.

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