CAPBX : Federated Capital Income Fund Class B Shares

Fund Summary

The investment seeks current income and long-term growth of income; capital appreciation is a secondary objective. The fund pursues its investment objectives by investing in both equity and fixed-income securities that have relatively high current income potential. The fund's investment adviser or subadviser ("Adviser") divides the fund's portfolio between equity and fixed-income investments by first allocating an amount to fixed-income investments sufficient to achieve a minimum income consistent with the fund's strategy of emphasizing relatively high current income potential.