An Investment in the Short Term Bond Portfolio is not a deposit of a bank and is neither insured or guaranteed by the Commonwealth of Massachusetts or the U.S. government, the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The Portfolio's yield will vary from day to day based on changes in interest rates and market changes.
Investors should carefully consider the portfolio's investment objectives, risks, charges and expenses before investing. Information about these and other important subjects is in the Investment Circular, which you should read carefully before investing.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost.
Current performance may be lower or higher than what is stated.
The portfolio is the successor to the MMDT Short Term Bond Fund pursuant to a reorganization that occurred on March 4, 2013. Prior to that date, the portfolio had no investment operations. Accordingly, for periods prior to that date, the performance information is that of the MMDT Short Term Bond Fund, which was managed by Fidelity Investments.
Total returns for periods of less than one year are cumulative.
The ratings agencies that provided the quality breakdown ratings are Standard and Poor's, Moody's and Fitch. When ratings vary, the lowest rating is used. Credit ratings of A or better are considered to be high credit quality; credit ratings of BBB are good credit quality, and the lowest category of investment grade; credit ratings BB and below are lower-rated securities ("junk bonds"); and credit ratings of CCC or below have high default risk.
Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
Current and future portfolio holdings are subject to risk.
Portfolio composition is subject to change.
Federated Investment Counseling