Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
High-yield, lower-rate securities generally entail greater market, credit/default and liquidity risk and may be more volatile than investment-grade securities.
Fund shares are available exclusively as a funding vehicle for life insurance companies writing variable life insurance policies and variable annuity contracts. If you are an individual investor, contact your financial advisor or insurance company for more information on these products.
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.
Federated Securities Corp., Distributor
| Not FDIC Insured |
May Lose Value |
No Bank Guarantee |
|
