High-yield, lower-rate securities generally entail greater market, credit/default and liquidity risk and may be more volatile than investment-grade securities.
For more complete information, visit FederatedInvestors.com or contact your investment professional for summary prospectuses or prospectuses. You should consider the fund's investment objectives, risks, charges and expenses carefully before you invest. Information about these and other important subjects is in the fund's summary prospectus or prospectus, which you should read carefully before investing.
Federated Securities Corp., Distributor
SOURCE Federated Investors, Inc.
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