Fund Description

The fund was incepted in August 1981 and is managed by Federated Investment Management Company. The fund's investment objective is to provide dividend income that is exempt from federal regular income tax. The fund pursues its objective by investing its assets so that normally, distributions of annual interest income are exempt from federal regular income tax. Interest from the fund's investments may be subject to the federal alternative minimum tax for individuals and corporations (AMT). The fund's dollar weighted average portfolio maturity are less than three years. The fund offers dividends monthly and capital gains annually.