There is no guarantee the fund's investment strategy will be successful.
The fund is not expected to outperform during periods of strong market rallies.
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 may make short sales of securities, which involves unlimited risk including the possibility that losses may exceed the original amount invested.
Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
The fund's performance is closely related to the risks associated with the securities and other investments held by certain underlying funds in which the fund may invest and the ability of the fund to achieve its investment objective will depend upon the ability of the underlying funds to achieve their investment objectives.
An investment in an exchange-traded fund (“ETF”) generally presents the same primary risks as an investment in a fund that is not exchange traded and may also be subject to other risks, such as: (i) ETF shares may trade above or below their net asset value; (ii) an active trading market for an ETF’s shares may not develop or be maintained and (iii) trading of an ETF’s shares may be halted by the listing exchange’s officials.
The fund may use options and future contracts, which have risks associated with unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of securities prices, interest rates and currency exchange rates. However, a mutual fund investor's risk is limited to one's amount of investment in a mutual fund.
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