Kaufmann Fund

ticker K A U I X Mutual Funds . Mid Cap .

Overview

 
AT A GLANCE
Portfolio
Assets
June 30 2019
$6.8 B
YTD Return NAV
July 17 2019
30.14%
Equity
Overall
Morningstar Rating ™
June 30 2019
4 out of 5 stars"
Gross
Expenses
1.56%
Net
Expenses
1.53%
STRATEGY

Seeks capital appreciation by investing principally in common stocks of small and medium-sized companies that are traded on national securities exchanges, the NASDAQ stock market and on the over-the-counter market.

KEY FACTS
Key Facts - Part 1
Symbol ticker K A U I X
Benchmark Russell Midcap® Growth Index
Key Facts - Part 2
Fund Number(s)
123
CUSIP 3 1 4 2 1 N 8 7 3
Performance Incp. Date January 1 2006
MORNINGSTAR CATEGORY & STYLE
Category
Mid-Cap Growth
Style
Medium Growth
INVESTMENT GOALS Retirement
Growth
MANAGERS
Hans Utsch
Senior Portfolio Manager
Head of Kaufmann Growth Equity Team

joined Federated
57 years of experience
Jonathan Art
Senior Portfolio Manager
Senior Investment Analyst

joined Federated
38 years of experience
Mark Bauknight
Senior Portfolio Manager
Senior Investment Analyst

joined Federated
26 years of experience
Tom Brakel, M.D.
Senior Portfolio Manager
Senior Investment Analyst

joined Federated
22 years of experience
John Ettinger, CFA
Senior Portfolio Manager

joined Federated
25 years of experience
Barbara Miller
Vice President
Portfolio Manager
Senior Investment Analyst

joined Federated
27 years of experience
Stephen DeNichilo, CFA
Portfolio Manager
Senior Investment Analyst

joined Federated
21 years of experience
Vivian Wohl
Vice President
Portfolio Manager
Senior Investment Analyst

joined Federated
35 years of experience
Steven Abrahamson
Senior Investment Analyst

joined Federated
28 years of experience

Performance

Characteristics

DISCLOSURES

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

Commentary

Documents

 
DISCLOSURES

1 disclosure If this product is new, it will not have completed its first financial reporting period. Please check back to view future shareholder reports. For the new share of an existing fund, you may wish to view recent shareholder reports of another share of that fund by visiting another share.

The “As of Date” for regulatory documents  is the date when the document is effective with the SEC and made available on Federated’s website.

2 disclosure Each fiscal quarter, the Fund will file with the SEC a complete schedule of its monthly portfolio holdings on “Form N-PORT.” The Fund’s holdings as of the end of the third month of every fiscal quarter, as reported on Form N-PORT, will be publicly available on the SEC’s website at www.sec.gov within 60 days of the end of the fiscal quarter upon filing.

double dagger disclosure PDF file consists of a President's Message or Market Overview (if applicable) and Annual/Semi-Annual Shareholder Report. NOTE: To be sure you have the most recent information, please access both the Annual Report and the Semi-Annual Report.

Distributions and Taxes

Standard Performance

 
DISCLOSURES

dagger disclosure The funds expense ratio is from the most recent prospectus. Pursuant to a settlement agreement, the expense ratio reflects a voluntary reduction of the management fee, from its stated, gross management fee, continuing until June 30, 2022. Additionally, the expense ratio reflects voluntary fee waivers and/or expense reimbursements determined by the funds Advisor and/or its affiliates. The voluntary waivers and/or expense reimbursements are in effect up to but not including the later of 01/01/2020 or the date of the funds next effective prospectus.

The fund’s Institutional Shares commenced operations on December 29, 2016. For period prior to the commencement of operations for the Institutional Shares, the performance information shown is for R Shares adjusted to remove any voluntary waiver of fund expenses related to the fund's R Shares that occurred during the period prior to the commencement of the fund's Institutional Shares.

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

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

Investing in IPOs involves special risks such as limited liquidity and increased volatility.

The fund is the successor to the Kaufmann Fund, Inc. ("Kaufmann Fund") pursuant to a reorganization that took place on April 23, 2001. Prior to that date, the fund had no investment operations.

International investing involves special risks including currency risk, increased volatility, 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.

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.

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

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.

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.

Current and future portfolio holdings are subject to risk.

Mutual funds are subject to risks and fluctuate in value.

Federated Securities Corp., Distributor

Not FDIC Insured
May Lose Value
No Bank Guarantee

3332488900