Portfolio Manager

Sub-advised by Federated Investment Management Company
Managed by Deborah A. Cunningham, CFA

Investment Style

  • Tax-exempt
  • Intermediate-term
  • High-quality

Buy Strategy

The securities we buy share common characteristics:
  • Mostly corporate securities or asset-backed commercial paper issued by large banks
  • Short-term debt with maturities of 13 months or shorter
  • Not issued by companies whose credit ratings have been downgraded

Sell Strategy

Because of the unique, short-term dynamics inherent in the debt instruments we purchase for the Fund, we generally don't sell our securities before they mature, unless we were concerned about the creditworthiness of a particular issuer.