Federated Institutional High Yield Bond Fund (IS) FIHBX

Share Classes Product Type Asset Class Category
Mutual Fund Fixed Income High Yield Bond
As of 08-31-2014

Highlights

  • Pursues a high level of current income.
  • Invests in below-investment-grade securities, providing exposure to the higher-yielding, lower-rated, corporate bond market.
  • Offers the potential for attractive relative total returns in economic recoveries through ratings upgrades or improved performance of issuing companies.
  • Serves as a core institutional high-yield bond holding.
  • Provides portfolio diversification; historically, high-yield bond performance has not been correlated to other types of bonds.

Key Investment Team


Facts

Symbol   FIHBX
Fund Number(s)   900
Newspaper Listing   FedInstHYBond
CUSIP   31420B300
Benchmark   Barclays U.S. Corporate High Yield 2% Issuer Capped Index
Performance Inception Date   11-01-2002
Fiscal Year-End   10-31

Morningstar Ratings™

disclosures »
    Funds in Category
Overall 567
3 Year 567
5 Year 497
10 Year 345
Based on risk adjusted total return. The overall rating is derived from a weighted average of the fund’s three-, five-, and ten-year average annual returns, as applicable.

Morningstar Category & Style

disclosures »
Category High Yield Bond
Style


 
 
 
 
 
 
 
 
 
 
 
Mutual funds are subject to risks and fluctuate in value.
The redemption/exchange fee will be waived for Shares purchased by banks or trust companies acting in a fiduciary capacity on behalf of trust accounts. The redemption/exchange fee will also be waived for Shares purchased through employer-sponsored retirement plans, such as 401(k) plans. However, if Shares are purchased for a retirement plan account through a broker, financial institution, or other intermediary maintaining an omnibus account for the Shares, the waiver may not apply. (Before purchasing Shares, please check with your account representative concerning the availability of the fee waiver.) In addition, this waiver does not apply to individual retirement accounts, such as Traditional, Roth and SEP-IRAs.
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.

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

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.

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

Index classifications are based upon, and individual portfolio securities are assigned to, the classification and sub-classification categories of the Barclays High Yield 2% Issuer Capped Index (BCHY2%ICI). Individual portfolio securities that are not included in the BCHY2%ICI are assigned to an index classification category at the discretion of the fund’s advisor.

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 © 2014 Federated Investors, Inc.

Connect with us: Twitter Facebook Linked In YouTube iTunes