Federated Michigan Intermediate Municipal Trust

Class A (MMIFX)
Scorecard
3 / 5 Stars
Lipper
5 5 3 5 4
Zacks Investment Research
2 (Buy)
Standard & Poor's
4 / 5 Stars
TheStreet.com
B (Buy)

#12 in Muni Single State Interm

U.S. News evaluated 68 Muni Single State Interm Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.

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Performance

The fund has returned -0.86 percent over the past year, 4.66 percent over the past three years, 4.56 percent over the past five years, and 3.40 percent over the past decade.

Trailing Returns Updated 02.28.2014
Year to date 2.2%
1 Year -0.9%
3 Years (Annualized) 4.7%
5 Years (Annualized) 4.6%
10 Years (Annualized) 3.4%

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Summary

The investment seeks current income exempt from federal regular income tax and the personal income taxes imposed by the state of Michigan and Michigan municipalities. The fund pursues its objective by investing at least a majority of its assets in a portfolio of tax-exempt securities so that, normally, distributions of annual interest income are exempt from federal regular income tax and the personal income taxes imposed by the state of Michigan and Michigan municipalities. Its dollar-weighted average portfolio maturity is between three and ten years, and its average-weighted duration is between three and seven years. The fund is non-diversified.

Fees

Fees are Low compared to funds in the same category.
Federated Michigan Intermediate Municipal Trust has an expense ratio of 0.63 percent.

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Risk

Risk is Average compared to funds in the same category according to Morningstar.

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