MDT Large Cap Value Fund

FMSTXMutual FundsLarge Cap

Overview

AT A GLANCE
AS OF
Portfolio
Assets
$1.1 B
YTD Return
7.34%
Equity
Stock certificate
Gross
Expenses  †
0.95%
Net
Expenses  †
0.77%
STRATEGY

Seeks growth of income and capital by investing primarily in common stocks of large-cap U.S. companies undervalued relative to the market.

KEY FACTS
Key Facts - Part 1
Symbol FMSTX
Benchmark Russell 1000® Value Index
Key Facts - Part 2
Fund Number(s)
426
CUSIP 314209701
Performance Incp. Date
MORNINGSTAR CATEGORY & STYLE
Category
Large Value
Style
Morningstar Style Box
      Large
      Medium
      Small
Value Blend Growth  
INVESTMENT GOALS Retirement
Growth
Income
MANAGERS
Daniel Mahr, CFA
Daniel Mahr, CFA
Managing Director, Research
Head of MDT Team

joined Federated
16 years of experience
Frederick Konopka, CFA
Frederick Konopka, CFA
Portfolio and Trading Manager
MDT Advisers, a Federated Advisory Company

joined Federated
21 years of experience
John Paul Lewicke
John Paul Lewicke
Vice President
Research Manager
MDT Advisers, a Federated Advisory Company

joined Federated
11 years of experience
Damien Zhang, CFA
Damien Zhang, CFA
Vice President
Research Manager

joined Federated
9 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 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 Form N-Q represents the first or third fiscal quarter end portfolio holdings, whichever is most recent, and is filed with the SEC 60 days following the end of the month representing the fund's fiscal first or third quarter. Portfolio holdings for a fund's second and fourth quarters are available in the shareholder reports.

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

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 01/01/2020 or the date of the funds next effective prospectus.

The fund is the successor to the Federated MDT Large Cap Value Fund (a Massachusetts business trust with the same name as the fund) (“predecessor fund”), pursuant to a reorganization involving the fund, the predecessor fund and the Federated Clover Value Fund completed after the close of business on December 8, 2017. The predecessor fund is both the tax and accounting survivor of the reorganization. Prior to the date of the reorganization, the fund had no investment operations. Accordingly, the performance information, including information on fees and expenses and financial information provided above for periods prior to December 8, 2017 is historical information for the predecessor fund.

The predecessor fund's Institutional Shares commenced operations on January 29, 2010. For the period prior to the commencement of operations of the Institutional Shares, the performance information shown above is for the predecessor fund's Service Shares. The performance of the Service Shares has not been adjusted to reflect the expenses applicable to the Institutional Shares since the Institutional Shares have a lower expense ratio than the expense ratio of the Service Shares. The performance of the Institutional Shares has been adjusted to remove any voluntary waiver of the fund's expenses related to the Service Shares that may have occurred during the period prior to the commencement of operations of the 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.

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.

The quantitative models and analysis used by the fund may perform differently than expected and negatively affect fund performance.

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.

Federated Securities Corp., Distributor

Not FDIC Insured
May Lose Value
No Bank Guarantee

1312020863