Federated Ultrashort Bond Fund Class A Shares
Information as of 10/31/2009
Benchmark 9 Month Libor Assets (Portfolio) $749,672,982 Assets (Share Class) $115,439,275 Symbol FULAX Fund Number(s) 218 Newspaper Listing UltraShortA CUSIP 31428Q762 Performance Inception Date 05/31/1997 Fiscal Year-End 9/30 Current Prospectus Date 11/30/2008 Fund Description The fund seeks to offer investors total return consistent with current income. To pursue its objective, the fund invests in asset-backed and mortgage-backed securities, corporate debt securities and Treasury and agency securities.		Key Investment Team Members Randall S. Bauer, CFA Morningstar Category Ultrashort Bond Morningstar Style Investment Objective Total return consistent with current income Investment Concentration Asset-backed & mortgage-backed securities, corporate debt securities and Treasury securities
Performance data quoted represents past performance which is no guarantee of future results.
The fund’s Class A Shares commenced operations on October 8, 2002. The fund offers two other classes of shares, Institutional Shares and Institutional 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 Institutional Service Shares, adjusted to reflect the sales charges (for maximum offering price performance) and expenses of the Class A Shares. Bond prices are sensitive to changes in interest rates and a rise in interest rates can cause a decline in their prices. See the prospectus for other fees and expenses that apply to a continued investment in the fund. 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. 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. Investors should carefully consider the fund’s investment objectives, risks, charges and expenses before investing. To obtain a prospectus containing this and other information, contact us or view the prospectus provided on this website. Please carefully read the prospectus before investing. 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

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