Fund Description

The fund was incepted in July 1997 and is managed by Federated Investment Management Company. The fund's investment objective is to seek current income. The fund pursues its investment objective by investing primarily in U.S. government securities. These government securities consist of Treasury, agency and agency mortgage backed securities, and repurchase agreements collateralized by U.S. government securities. The fund normally invests a majority of its assets in money market instruments due to their short maturities. The fund limits its investments to those that would enable it to qualify as a permissible investment for federal credit unions and federal savings associations, and as an appropriate direct investment for national banks. The fund offers dividends monthly and capital gains annually.