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 (the "Advisor") normally will invest assets entirely in securities whose interest is not subject to (or not a specific preference item for purposes of) the federal alternative minimum tax (AMT) for individuals, such that, normally, distributions of annual interest income also are exempt from the AMT. However, in certain circumstances to pursue the fund’s investment objective, the Advisor may invest the fund’s assets in securities that may be subject to AMT. 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