Government Ultrashort Duration Fund

ticker F G U L XMutual FundsUltrashort Bond

Overview

 
AT A GLANCE
Portfolio
Assets
March 31 2019
$790.3 M
YTD Return NAV
April 21 2019
0.63%
Fixed Income
Gross
Expenses [†]
0.43%
Net
Expenses [†]
0.24%
STRATEGY

Seeks current income by investing primarily in U.S. government securities and U.S. government agency securities.

KEY FACTS
Key Facts - Part 1
Symbol ticker F G U L X
Benchmark ICE BofAML 6-Month Treasury Bill Index
Key Facts - Part 2
Fund Number(s)
840
CUSIP 3 1 4 2 0 B 8 5 4
Performance Incp. Date July 10 1997
Credit Rating NAIC Rating NAIC List
MORNINGSTAR CATEGORY & STYLE
Category
Ultrashort Bond
Style
High Limited
INVESTMENT GOALS Retirement
Income
MANAGERS
Susan Hill, CFA
Senior Vice President
Senior Portfolio Manager, Head of Government Liquidity Group

joined Federated
29 years of experience
Liam O'Connell, CFA
Vice President
Portfolio Manager
Senior Investment Analyst

joined Federated
16 years of experience

Performance

 

Characteristics

 

Commentary

 

Documents

 

Distributions and Taxes

 
DISCLOSURES

† The funds expense ratio is from the most recent prospectus. The expense ratio may reflect voluntary fee waivers and/or expense reimbursements determined by the funds Advisor and its affiliates. The voluntary waivers and/or reimbursements, if applicable, are in effect up to but not including the later of 10/01/2019 or the date of the funds next effective prospectus.

When homeowners prepay their mortgages in response to lower interest rates, the fund will be required to reinvest the proceeds at the lower interest rates available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed income securities.

Total returns for periods of less than one year are cumulative.

The fund's R6 Shares commenced operations on March 29, 2016. For the period prior to the commencement of operations for the R6 Shares, the performance information shown is for the IS Shares. The performance of the IS Shares has not been adjusted to reflect the expenses applicable to the R6 Shares since the R6 Shares hace a lower expense ratio than the expense ratio of the IS Shares. The performance of the IS Shares has been adjusted to remove any voluntary waiver of fund expenses related to the IS Shares that may have occurred during the period prior to the commencement of operations of the R6 Shares. 

Total return may have been lower in the absence of temporary expense waivers or reimbursements.

Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.

The fund is not a “money market” mutual fund. Some money market mutual funds attempt to maintain a stable net asset value through compliance with relevant Securities and Exchange Commission (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.

After-tax returns are calculated using a standard set of assumptions. Actual after-tax returns depend on each investor’s personal tax situation, and are likely to differ from those shown. The stated returns assume the highest historical federal income and capital gains tax rates, but do not reflect the effect of any applicable state and local taxes. Return After Taxes on Distributions assumes a continued investment in the fund and shows the effect of taxes on fund distributions. Return After Taxes on Distribution and Sale of Fund Shares assumes all shares were redeemed at the end of each measurement period, and shows the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on fund distributions. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA, 401(k) plans. The after-tax average annual total returns are based on the 37% tax bracket and include the 3.8% tax on net investment income.

Mutual funds are subject to risks and fluctuate in value.

This fund is on the National Association of Insurance Commissioner’s list as a Bond Mutual Fund listing. This designation denotes that the fund meets certain quality and pricing guidelines such as: the highest quality rating given by a NAIC credit rating provider, allow a maximum 7 day redemption of proceeds, invest 100% in US government securities, declare a dividend of its net investment income each day prior to calculating its net asset value per share. This is subject to an annual review.

Product classifications noted at the top are Federated's internal classifications.

The ratings agencies that provided the quality breakdown ratings are Standard and Poor's, Moody's and Fitch. When ratings vary, the highest rating is used. Credit ratings of A or better are considered to be high credit quality; credit ratings of BBB are good credit quality, and the lowest category of investment grade; credit ratings BB and below are lower-rated securities ("junk bonds"); and credit ratings of CCC or below have high default risk. The credit quality breakdown does not give effect to the impact of any credit derivative investments made by the fund.

The holdings percentages are based on net assets at the close of business on the date above, and may not necessarily reflect adjustments that are routinely made when presenting net assets for formal financial statement purposes. Because this is a managed portfolio, the investment mix will change.

Current and future portfolio holdings are subject to risk.

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.

Federated Securities Corp., Distributor

Not FDIC Insured
May Lose Value
No Bank Guarantee

860396207