Government/Credit Strategy without MAPs

Managed Accounts . Intermediate Bond .



A composite of separately managed account portfolios managed to the Bloomberg Barclays U.S. Government Credit Index. Portfolios in this composite do not permit the use of Federated Managed Account Pools (MAPs), therefore requiring exposure to all markets via individual securities. All portfolios utilize Federated's primary institutional fixed-income approach, a benchmark-driven process designed to add value through fundamental analysis with teams focused by sector to extract value from each step of the process - analysis of sector, yield curve and security characteristics, and assessment of major long-term indicators of interest rate direction and volatility - within client-driven parameters that meet the above criteria.

Key Facts - Part 1
Benchmark Bloomberg Barclays U.S. Government/Credit Index
Key Facts - Part 2
Strategy Inception Date January 1 1988
Robert Ostrowski, CFA
Executive Vice President
Chief Investment Officer for the Global Fixed Income Group
Senior Portfolio Manager

joined Federated
32 years of experience
Denis Doherty, CFA
Senior Vice President
Senior Portfolio Manager, Head of Managed Accounts Group

joined Federated
32 years of experience





Investment strategies described on this site are not necessarily available through every sponsor program. Please check with your Federated representative or your home office to ascertain accessibility.

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Issues discussed within this communication represent the investment manager's explanation of factors that were considered when executing transactions or holding specific securities on the prior date indicated. Because this is a managed portfolio, the investment mix will change and the holdings are not indicative of future portfolio composition. Marketplace conditions fluctuate suddenly and frequently, and investment manager's opinions may change. These comments are not intended to be and do not constitute recommendations that others buy, sell or hold any of the securities discussed. Opinions relate to the representative portfolio as of the date above and are subject to change.

Supplemental to the GIPS composite found on this website in the Performance Profile found in the Documents section.

For printing purposes, this commentary must be accompanied by the full GIPS report.

Past performance is no guarantee of future results.

For additional information, including definitions of related terms and indexes, see the Financial Glossary and Benchmark Index Glossary.

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