Ohio Municipal Income Fund

ticker O M I A X Mutual Funds . Muni State Specific .

Overview

 
AT A GLANCE
Portfolio
Assets
May 31 2019
$143.9 M
YTD Return NAV
June 24 2019
4.12%
Fixed Income
Gross
Expenses
0.94%
Net
Expenses
0.77%
STRATEGY

Seeks current income by investing in a portfolio of tax-exempt securities so that, normally, distributions of annual interest income are exempt from federal regular income tax (federal regular income tax does not include the federal alternative minimum tax (AMT)) and the personal income taxes imposed by the state of Ohio and Ohio municipalities.

KEY FACTS
Key Facts - Part 1
Symbol ticker O M I A X
Benchmark S&P Municipal Bond Ohio Index
Key Facts - Part 2
Fund Number(s)
164
CUSIP 3 1 3 9 2 3 8 2 3
Performance Incp. Date October 12 1990
MORNINGSTAR CATEGORY & STYLE
Category
Municipal Ohio
Style
Medium Moderate
INVESTMENT GOALS Income
Tax Aware
MANAGERS
J. Scott Albrecht, CFA
Senior Vice President
Senior Portfolio Manager

joined Federated
35 years of experience
R.J. Gallo, CFA
Senior Vice President
Senior Portfolio Manager
Head of Municipal Bond Investment Group
Head of Duration Committee

joined Federated
25 years of experience

Performance

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 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.

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. 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 11/01/2019 or the date of the funds next effective prospectus.

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.

The fund’s A Shares commenced operations on November 19, 2008. For the period prior to the commencement of operations of the A Shares, the performance information shown is for the fund’s F Shares, adjusted to reflect the maximum sales charge applicable to the fund’s A shares, the performance information shown is for the funds F Shares adjusted to reflect the sales charge and expenses of the A Shares.

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

Interest income from the fund’s investments may be subject to the federal alternative minimum tax (AMT) for individuals.

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 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

3379348746