Past performance 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 their original cost.
Lipper rankings do not reflect sales charges.
Lipper data is received on the fourth business day following each month-end. These rankings may differ from other Lipper rankings used in Federated marketing materials.
International investing involves special risks including currency risk, increased volatility of foreign securities, political risks, and differences in auditing and other financial standards.
Small company stocks may be less liquid and subject to greater price volatility than large capitalization stocks.
Funds whose investments are concentrated in a specific industry, sector or geographic area may be subject to a higher degree of market risk than funds whose investments are diversified.
Bond prices are sensitive to changes in interest rates and a rise in interest rates can cause a decline in their prices.
For more complete information, view the prospectus provided on this Web site or ask your investment professional for a prospectus. You should consider the fund's investment objectives, risks, charges, and expenses carefully before you invest. Information about these and other important subjects is in the fund's prospectus, which you should read carefully before investing.
Mutual funds are subject to risks and fluctuate in value.
