Federated Unconstrained Bond Fund (A) FUNAX

Share Classes Product Type Asset Class Category
Mutual Fund Fixed Income Nontraditional Bond
As of 03-31-2015


  • Pursues high total returns.
  • Invests across the domestic and international fixed-income markets.
  • Focuses on sectors and strategies that management believes will benefit from anticipated changes in economic and market conditions.
  • Offers an unconstrained portfolio that can invest 100% in any single bond sector or allocate across the full spectrum of bond sectors.
  • Flexibility to manage the average duration to within a range of -5 to +10 years.
  • Strategically applies Federated's experienced market perspective, fixed-income experience and emphasis on credit analysis.

Key Investment Team


Symbol   FUNAX
Fund Number(s)   191
Newspaper Listing   FedUnconstBA
CUSIP   31420C639
Benchmark   BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
Performance Inception Date   07-01-2011
Fiscal Year-End   11-30

Mutual funds are subject to risks and fluctuate in value.

There is no guarantee the fund will achieve its investment objective.

Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.

Diversification does not assure a profit nor protect against loss.

International investing involves special risks including currency risk, increased volatility, political risks, and differences in auditing and other financial standards. Prices of emerging-market and frontier-market 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.

High-yield, lower-rated securities generally entail greater market, credit/default and liquidity risks and may be more volatile than investment-grade securities.

In addition to the risks generally associated with debt instruments, such as credit, market, interest rate, liquidity and derivatives risks, bank loans are also subject to the risk that the value of the collateral securing a loan may decline, be insufficient to meet the obligations of the borrower, or be difficult to liquidate.

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.

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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