EMDIX : Federated Emerging Market Debt Fund Institutional Shares

Fund Summary

The investment seeks a high level of current income and capital appreciation is a secondary objective. The fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in emerging market fixed-income investments. It invests primarily in a portfolio of emerging market fixed-income investments. The fund's investments may be denominated in foreign currencies or U.S. dollars, and may be of any duration. It may invest in non-investment grade debt investments, which may offer higher yields than investment grade debt investments. The fund is non-diversified.