Federated Tax-Free Obligations Fund (IS) TBIXX

Share Classes Product Type Asset Class Category
Mutual Fund Money Market Money Market Tax-Free
As of 03-31-2015


  • Pursues dividend income exempt from federal regular income tax, consistent with stability of principal.
  • Invests in short-term, high-quality, tax-exempt securities.
  • Holds Aaa-mf and AAAmmf ratings from Moody's and Fitch, respectively.
  • Fund income is exempt from federal alternative minimum tax (AMT).
  • Offers tax-sensitive investors the potential for attractive taxable-equivalent yields compared to taxable money market funds.
  • On National Association of Insurance Commissioners (NAIC) List.*

Key Investment Team


Symbol   TBIXX
Fund Number(s)   15
Newspaper Listing   FedTaxFrObIS
CUSIP   60934N401
Performance Inception Date   12-12-1989
Fund Cutoff   Purchases: 3:00 p.m.
Redemptions: 12:00 p.m.
Credit Rating   AAAmmf Fitch
Aaa-mf Moody's
NAIC List*


The fund's investment adviser normally will invest assets entirely in securities whose interests is not subject to (or not a specific preference item for purposes of) the federal alternative minimum tax for individuals and corporations (AMT), such that, normally, distributions of annual interest income also are exempt from the AMT. However, in certain circumstances to pursue the fund's investment objective, the Adviser may invest the fund's assets in securities that may be subject to AMT. In such circumstances, interest from the fund's investments may be subject to the AMT.

An investment in money market funds is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in these funds.

Money market ratings are an assessment of the safety of invested principal and the ability to maintain a stable market value of the fund's shares. Ratings are based on an evaluation of several factors, including credit quality, diversification and maturity of assets in the portfolio, as well as management strength and operational capabilities. Ratings are subject to change and do not remove market risk.

Fitch's money market fund ratings are an assessment of the safety of invested principal and the ability to maintain a stable value of the fund's shares. Money market funds rated Aaa by Moody's are judged to be of an investment quality similar to Aaa-rated fixed income obligations, that is, they are judged to be of the best quality. For more information on credit ratings, visit v3.moodys.com and fitchratings.com.

Ratings are subject to change and do not remove market risk.

* This fund is on the National Association of Insurance Commissioner's list as a Class 1 listing. This designation denotes that the fund meets certain quality and pricing guidelines such as: a rating of A or better by a Nationally Recognized Statistical Rating Organization (NRSRO), maintain a constant NAV $1.00 at all times, allow a maximum 7 day redemption of proceeds, invest 95% in US government securities or securities rated in the highest short-term rating category by an NRSRO, or unrated securities determined by the fund's board to be of comparable quality or other registered money market funds or collateralized repurchase agreements with the remaining 5% in Second Tier securities from Rule 2a-7. This is subject to an annual review.

Income may be subject to state and local taxes.
The fund is a managed portfolio and its holdings are subject to change.
Current and future portfolio holdings are subject to risk.

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.

For additional information, including definitions of related terms and indexes, see the Financial Glossary and Benchmark Index Glossary.

Federated Securities Corp., Distributor
Not FDIC Insured May Lose Value No Bank Guarantee
Copyright © 2015 Federated Investors, Inc.

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