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Current performance may be lower or higher than what is stated.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.
Total returns for periods of less than one year are cumulative.
As a non-fundamental operating policy, under normal market conditions, the fund will invest 70% or more of its portfolio in non-U.S. dollar denominated investments and gold-related investments which may be denominated in U.S. dollars. The fund may invest, for temporary or defensive purposes, more than 30% of its assets in U.S. dollar denominated investments.
The Federated Prudent DollarBear Fund is the successor to the Prudent Global Income Fund, pursuant to a reorganization that took place on December 5, 2008. Prior to that date, the Federated Prudent DollarBear Fund had no investment operations. Accordingly, performance information shown for periods prior to December 5, 2008, is historical information for the predecessor Prudent Global Income Fund’s No Load Shares but has been adjusted to remove any voluntary waiver of expenses related to the No Load Shares that may have occurred prior to commencement of operations of the Institutional Shares. The performance information of the predecessor Prudent Global Income Fund has not been adjusted to reflect the expense ratio of the Institutional Shares since the Institutional Shares are estimated to have a lower expense ratio than the expense ratio of the predecessor Prudent Global Income Fund’s No Load Shares.
Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
International investing involves special risks including currency risk, increased volatility, political risks, and differences in auditing and other financial standards.
Diversification does not assure a profit nor protect against loss.
The fund is a non-diversified investment company. As such, it will likely invest in fewer securities or securities issued by fewer foreign governments than diversified investment companies, and its performance may be more volatile. If the securities in which the Federated Prudent DollarBear Fund invests perform poorly, the Federated Prudent DollarBear Fund could incur greater losses than it would have had it invested in a greater number of securities.
Investments in gold and precious metals are subject to additional risks such as the possibility of substantial price fluctuations over a short period of time.
After-tax returns are calculated using a standard set of assumptions. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. The stated returns assume the highest historical federal income and capital gains tax rates. Return After Taxes on Distributions assumes a continued investment in the fund and shows the effect of taxes on fund distributions. Return After Taxes on Distribution and Sale of Fund Shares assumes all shares were redeemed at the end of each measurement period, and shows the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA or 401(k) plans, or variable annuities. The after-tax average annual total returns are based on the 39.6% tax bracket and include the 3.8% tax on net investment income.
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.