Tax-Free Obligations Fund

Tax-Free Obligations Fund SSMutual FundsMunicipal/Tax FreeRetail

Overview

AT A GLANCE
Portfolio
Assets
$3.8 Billion
YTD Return NAV
0.27%
Liquidity
United States dollar icon.
STRATEGY

Seeks dividend income exempt from federal regular income tax consistent with stability of principal by investing primarily in a portfolio of high quality, tax-exempt securities maturing in 397 days or less.

KEY FACTS
Key Facts - Part 1
Symbol Tax-Free Obligations Fund SS
Fund Cutoff Purchases: ET
Redemptions: ET
Key Facts - Part 2
Fund Number(s)
397
CUSIP 60934N880
Performance Incp. Date
Credit Rating AAAmmf Fitch
Aaa-mf Moody's
INVESTMENT GOALS Income
Cash Management
Tax Aware
Portfolio Stability
MANAGERS
Mary Jo Ochson, CFA
Senior Vice President
Chief Investment Officer
Head of the Tax-Free Liquidity Investment Area and Short-Term Municipal Bonds
Senior Portfolio Manager

joined Federated
36 years of experience
Kyle Stewart, CFA
Vice President
Senior Portfolio Manager
Senior Investment Analyst

joined Federated
25 years of experience

Performance

Characteristics

Commentary

Documents

Distributions and Taxes

DISCLOSURES

You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

Although not contractually obligated to do so, the adviser and/or certain fund service providers waived all or a portion of their fees or reimbursed the fund for certain operating expenses. These voluntary waivers and reimbursements may be modified or terminated at any time; accordingly, the fund's expenses may vary (i.e., increase or decrease) during the fund's fiscal year. These waivers increase income to the fund and result in a higher return to investors.

Total return represents the change in value of an investment after reinvesting all income and capital gains.

Yield quotations more closely reflect the current earnings of the fund than the total return quotation.

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

Income may be subject to state and local taxes.

The fund’s investment advisor normally will invest assets entirely in securities whose interest is not subject to the federal alternative minimum tax (AMT), such that, normally, distributions of annual interest income also are exempt from the AMT. However, it may invest the fund’s assets in securities that may be subject to AMT in response to unusual circumstances, such as: adverse market, economic or other conditions (for example, to help avoid potential losses, or during periods when there is a shortage of appropriate tax-exempt securities); to maintain liquidity to meet shareholder redemptions; or to accommodate cash inflows. In such circumstances, interest from the fund’s investments may be subject to the AMT.

Ratings are based on an evaluation of several factors, including credit quality, diversification and maturity of assets in the portfolio, as well as management strength and operational capabilities. Ratings are subject to change and do not remove market risk.

Fitch’s money market fund ratings are an assessment of a money market fund’s capacity to preserve principal and provide liquidity through limiting credit, market and liquidity risk. Money market funds rated Aaa-mf by Moody's are judged to be of an investment quality similar to Aaa-rated fixed income obligations, that is, they are judged to be of the best quality. For more information on credit ratings, visit moodys.com and fitchratings.com.

Benchmark: iMoneyNet MFR Tax-Free Institutional

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

The fund is a managed portfolio and its holdings are subject to change. 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.

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

2715405215