Mutual funds are subject to risks and fluctuate in value.
Effective January 1, 2014, the fund’s benchmark was changed from 25% Barclays Mortgage-Backed Securities Index, 40% Barclays U.S. Corporate High Yield 2% Issuer Capped Index, 25% Barclays Emerging Market Bond Index, 10% J.P. Morgan Non-Dollar Index to 35% Barclays Mortgage-Backed Securities Index, 40% Barclays U.S. Corporate High Yield 2% Issuer Capped Index, 25% Barclays Emerging Market Bond Index.
International investing involves special risks including currency risk, increased volatility, political risks, and differences in auditing and other financial standards. Prices of emerging-markets securities can be significantly more volatile than the prices of securities in developed countries, and currency risk and political risks are accentuated in emerging markets.
Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
High-yield, lower-rated securities generally entail greater market, credit/default and liquidity risks and may be more volatile than investment-grade securities.
The fund’s benchmark is a custom index comprised of four separate indexes which track various security types. The weightings assigned to each component index of the benchmark are fixed, but do not necessarily reflect the fund’s allocation to the type of fixed-income securities represented by the component indexes, which will vary.
Past performance is no guarantee of future results.
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 view the prospectus provided on this website. Please carefully read the summary prospectus or prospectus before investing.
"Category" product classifications noted at the top are Federated's internal classifications.
Federated Securities Corp., Distributor
| Not FDIC Insured |
May Lose Value |
No Bank Guarantee |
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