For the fiscal year ended
For the fiscal year ended
Both FMN and FPT have paid monthly tax-free dividends since the first
dividend declaration in
Fund composition and performance data for the funds as of
Federated Investors, Inc. (NYSE: FII) is one of the largest investment
managers in the
Federated Premier Municipal Income Fund (FMN) SUMMARY OF RESULTS OF OPERATIONS (For a Common Share Outstanding Throughout Each Period) Period Ended Year Ended Nov. 30 Nov. 30, 2007 2006 2005 2004 2003(1) Net Asset Value, Beginning of Period $15.56 $15.05 $14.66 $14.56 $14.33 Income From Investment Operations: Net investment income(2) 1.12 1.12 1.12 1.13 0.98 Net realized and unrealized gain (loss) on investments, swap contracts and futures contracts (0.96) 0.55 0.43 0.07 0.32 Distributions to preferred shareholders from net investment income(3) (0.32) (0.29) (0.19) (0.10) (0.08) TOTAL FROM INVESTMENT OPERATIONS (0.16) 1.38 1.36 1.10 1.22 Less Distributions to Common Shareholders: From net investment income (0.80) (0.87) (0.97) (1.00) (0.84) Capital Charges With Respect to Issuance of: Common shares - - - - (0.03) Preferred shares - - - - (0.12) TOTAL CAPITAL CHARGES - - - - (0.15) Net Asset Value, End of Period $14.60 $15.56 $15.05 $14.66 $14.56 Market Price, End of Period $13.92 $15.80 $14.44 $14.31 $14.25 Total Return at Net Asset Value(4) (1.01)% 9.51% 9.49% 8.05% 7.70% Total Return at Market Price(5) (7.03)% 15.90% 7.75% 7.76% 0.70% (1) Reflects operations for the period from Dec. 20, 2002 (date of initial public investment) to Nov. 30, 2003. (2) Per share numbers have been calculated using the average shares method. (3) The amounts shown are based on Common Share equivalents. (4) Total Return at Net Asset Value is the combination of changes in the Common Share net asset value, reinvested dividend income and reinvested capital gains distributions at net asset value, if any, and does not reflect the sales charge, if applicable. Total returns for periods of less than one year are not annualized. Total returns for the periods ended Nov. 30, 2004 and 2003 were calculated utilizing the average price paid per share at the time of reinvestment. If net asset value had been utilized, the total returns would have been 7.89% and 7.67%, respectively. (5) Total Return at Market Price is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of the reinvestment. Total returns for periods of less than one year are not annualized. Federated Premier INTERMEDIATE Municipal Income Fund (FPT) SUMMARY OF RESULTS OF OPERATIONS (For a Common Share Outstanding Throughout Each Period) Period Ended Year Ended Nov. 30 Nov. 30, 2007 2006 2005 2004 2003(1) Net Asset Value, Beginning of Period $14.83 $14.41 $14.53 $14.65 $14.33 Income From Investment Operations: Net investment income(2) 0.99 0.96 0.92 0.90 0.79 Net realized and unrealized gain (loss) on investments, swap contracts and futures contracts (0.66) 0.44 (0.08) (0.14) 0.40 Distributions to preferred shareholders from net (0.32) (0.29) (0.20) (0.10) (0.08) investment income(3) TOTAL FROM INVESTMENT OPERATIONS 0.01 1.11 0.64 0.66 1.11 Less Distributions to Common Shareholders: From net investment income (0.69) (0.69) (0.76) (0.78) (0.64) Capital Charges With Respect to Issuance of: Common shares - - - - (0.03) Preferred shares - - - - (0.12) TOTAL CAPITAL CHARGES - - - - (0.15) Net Asset Value, End of Period $14.15 $14.83 $14.41 $14.53 $14.65 Market Price, End of Period $12.50 $13.81 $12.68 $13.50 $13.47 Total Return at Net Asset Value(4) 0.10% 7.94% 4.46% 5.03% 7.05% Total Return at Market Price(5) (4.80)% 14.63% (0.66)% 6.14% (5.97)% (1) Reflects operations for the period from Dec. 20, 2002 (date of initial public investment) to Nov. 30, 2003. (2) Per share numbers have been calculated using the average shares method. (3) The amounts shown are based on Common Share equivalents. (4) Total Return at Net Asset Value is the combination of changes in the Common Share net asset value, reinvested dividend income and reinvested capital gains distributions at net asset value, if any, and does not reflect the sales charge, if applicable. Total returns for periods of less than one year are not annualized. Total returns for the periods ended Nov. 30, 2004 and 2003 were calculated utilizing the average price paid per share at the time of reinvestment. If net asset value had been utilized, the total returns would have been 4.63% and 6.83%, respectively. (5) Total Return at Market Price is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of the reinvestment. Total returns for periods of less than one year are not annualized.
SOURCE Federated Investors, Inc.