Prudent Bear Fund

ticker B E A R XMutual FundsBear Market

Overview

 
AT A GLANCE
Portfolio
Assets
April 30 2019
$163.8 M
YTD Return NAV
May 27 2019
-10.97%
Alternative
Gross
Expenses
3.65%
Net
Expenses
3.55%
STRATEGY

Seeks capital appreciation primarily through short positions in domestically traded equity securities and indices.

KEY FACTS
Key Facts - Part 1
Symbol ticker B E A R X
Benchmark S&P 500 Index
Key Facts - Part 2
Fund Number(s)
409
CUSIP 3 1 4 2 1 N 7 0 9
Performance Incp. Date December 28 1995
MORNINGSTAR CATEGORY & STYLE
Category
Bear Market
Style
Large Blend
INVESTMENT GOALS Retirement
Growth
MANAGERS
P. Ryan Bend, CFA
Vice President
Senior Portfolio Manager, Head of Prudent Bear Team

joined Federated
18 years of experience
Chad Hudson, CFA
Vice President
Portfolio Manager
Senior Trader

joined Federated
25 years of experience
Dana Meissner, CFA, FRM, CAIA
Senior Vice President
Senior Portfolio Manager, Head of Alternatives Equity Team

joined Federated
20 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 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/or its affiliates. The voluntary waivers and/or reimbursements, if applicable, are in effect up to but not including the later of 12/01/2019 or the date of the funds next effective prospectus. The expense ratio includes Dividends and Other Expenses Related to Short Sales. If Dividends and Other Expenses Related to Short Sales were excluded, the total net expenses would have been 1.90%.

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

The Federated Prudent Bear Fund is the successor to the Prudent Bear Fund, pursuant to a reorganization that took place on December 5, 2008. Prior to that date, the Federated Prudent Bear Fund had no investment operations. Accordingly, performance information shown for periods prior to December 5, 2008, is historical information for the former No Load Shares but has been adjusted to reflect the maximum sales charges and expenses applicable to the fund’s A and C Shares.

Diversification does not assure a profit nor protect against loss.

Federated Prudent Bear Fund regularly makes short sales of securities, which involves unlimited risk including the possibility that losses may exceed the original amount invested. The fund may also use options and future contracts, which have risks associated with unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of securities prices, interest rates and currency exchange rates. However, a mutual fund investor’s risk is limited to one’s amount of investment in a mutual fund. The fund may also hold restricted securities purchased through private placements. Such securities may be difficult to sell without experiencing delays or additional costs. Please see the prospectus for further details. Considering the increased risks, the fund may not be suitable for all investors.

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. 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. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA or 401(k) plans, or variable annuities. 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.

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

1400765619