Federated Ultrashort Bond Fund (A) FULAX

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


  • Pursues total return consistent with current income.
  • Invests in asset- and mortgage-backed, corporate, Treasury and government agency securities.
  • Maintains a portfolio dollar-weighted average effective duration of one year or less.
  • Allocates portfolio to the sectors that offer the best risk/return balance.

Key Investment Team


Symbol   FULAX
Fund Number(s)   218
Newspaper Listing   UltraShortA
CUSIP   31428Q762
Benchmark   Barclays Short-Term Government/Corporate Index
Performance Inception Date   05-31-1997
Fiscal Year-End   9-30

Morningstar Category & Style

disclosures »
Category Ultrashort Bond

Mutual funds are subject to risks and fluctuate in value.
A portion of the fund may be invested in the Federated Core Trust-High Yield Bond Portfolio. This pool of securities provides more effective diversification than is available through the purchase of individual high yield securities.

The fund’s Class A Shares commenced operations on October 8, 2002. The fund offers two other classes of shares, Institutional Shares and Service Shares. For the period prior to the commencement of operations of the Class A Shares, the performance information shown is for the Fund’s Service Shares, adjusted to reflect the sales charges (for maximum offering price performance) and expenses of the Class A Shares.

See the prospectus for other fees and expenses that apply to a continued investment in the fund.
Prior to 10/27/98, the fund was named Federated Limited Duration Government Fund with an investment concentration in government securities. The fund was reconfigured to maintain an ultrashort duration (one year or less) with a revised investment policy of purchasing both higher and lower quality fixed income securities.

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

The fund is not a “money market” fund. A money market mutual fund attempts to maintain a stable net asset value through compliance with relevant SEC rules. The fund is not governed by those rules, and its shares will fluctuate in value.
The value of some mortgage-backed securities may be particularly sensitive to changes in prevailing interest rates, and although the securities are generally supported by some form of government or private insurance, there is no assurance that private guarantors or insurers will meet their obligations.
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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