Past performance is no guarantee of future results.
There is no guarantee that any type of investment approach will be successful.
Variable and floating-rate loans and securities generally are less sensitive to interest rate changes but may decline in value if their interest rates do not rise as much or as quickly as interest rates in general. Conversely, variable and floating-rate loans and securities generally will not increase in value as much as fixed-rate debt instruments if interest rates decline.
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.
Duration is a measure of a security’s price sensitivity to changes in interest rates. Securities with longer durations are more sensitive to changes in interest rates than securities of shorter durations.
Federated Investment Counseling