FEUSX : Federated Government Ultrashort Duration Fund Service Class

Fund Summary

The investment seeks current income. The fund's overall strategy is to invest in a portfolio of U.S. government securities and U.S. government agency securities (including mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises (GSEs)) with an overall dollar-weighted average duration of one year or less. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. Within the one-year duration constraint, the Adviser will seek to increase the fund's current income by lengthening or shortening portfolio duration based on its interest rate outlook.