FULIX : Federated Ultrashort Bond Fund Institutional Shares

Fund Summary

The investment seeks to provide total return consistent with current income. The fund invests primarily (that is, more than 50%) in investment-grade, fixed-income securities, including but not limited to asset-backed securities and corporate debt securities, but may invest up to 35% of its assets in noninvestment-grade, fixed-income securities. It will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed-income investments. It may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association.