EX-99.MCPC 12 mcpc.htm EXHIBIT 99 UNDER ITEM 601/REG. S-K

 

EXHIBIT 28 (N) 9 UNDER FORM N-1A

EXHIBIT 99 UNDER ITEM 601/REG. S-K

 

 

Class C Shares Exhibit

To

Multiple Class Plan

(revised 6/1/17)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Class C Shares will consist of sales by financial intermediaries in consideration of an advance commission of up to 1.00% of the public offering price, paid by the principal underwriter. Financial intermediaries may also provide shareholder services and may receive shareholder services fees therefor. Additionally, the principal underwriter and financial intermediaries may receive distribution and/or administrative service fees under the 12b-1 Plan. In cases where the principal underwriter has advanced a commission to the financial intermediary, such 12b-1 fees will be paid to the financial intermediary beginning in the thirteenth month after purchase. In consideration of advancing commissions, the principal underwriter will receive the contingent deferred sales charges paid upon redemption of Class C Shares and payments made under the 12b-1 Plan for twelve months following the purchase. In connection with this basic arrangement, Class C Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Class C Shares
Contingent Deferred Sales Charge (“CDSC”) 1.00% of the share price at the time of purchase or redemption, whichever is lower if redeemed within twelve months following purchase
   
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
   
12b-1 Fee As set forth in the attached Schedule
   
Redemption Fee As set forth in the attached Schedule
   
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class C Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Class C Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Class C Shares that are not subject to a contingent deferred sales charge (“CDSC”) may be converted to any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable. For Class C Shares purchased through a financial intermediary after (DATE), such shares may only be converted to another Share Class of the same Fund if: (i) the Class C Shares are no longer subject to a CDSC or the financial intermediary agrees to reimburse the Fund’s distributor the CDSC otherwise payable upon the sale of such Class C Shares; (ii) the shareholder meets the investment minimum and eligibility requirements for the Share Class into which the conversion is sought, as applicable; and (iii) (A) the conversion is made to facilitate the shareholder’s participation in a self-directed brokerage account for a fee-based advisory program offered by the intermediary, or (B) the conversion is part of a multiple-client transaction through a particular financial intermediary as pre-approved by the Fund’s Administrator.
Exchange Privileges: Class C Shares may be exchanged for Class C Shares of any other Fund.  

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 

3.       Exceptions to Basic Arrangements

 

For purposes of Rules 22d-1 and 6c-10 under the Act, unless otherwise specified on the Schedule to this Exhibit, the scheduled variations contingent deferred sales charges are as follows:

 

(A)        WAIVER OF CDSC

 

·                       following the death of the last surviving shareholder or post-purchase disability, as defined in Section 72(m)(7) of the Internal Revenue Code of 1986;
·                       due to the termination of a trust following the death of the trustor/grantor or beneficiary, provided that the trust document specifically states that the trust is terminated upon the death
·                       representing minimum required distributions (“RMD”) from an Individual Retirement Account or other retirement plan as required under the Internal Revenue Code;
·                       of Shares that were reinvested within 120 days of a previous redemption;
·                       of Shares held by the Directors, Trustees, employees, former employees and sales representatives of the Fund, the Adviser, the principal underwriter and their affiliates, employees of any investment professional that sells Shares according to a sales agreement with the principal underwriter, by the immediate family members of the above persons, and by trusts, pension or profit-sharing plans for the above persons;
·                       of Shares originally purchased through a program offered by a Financial Intermediary that provides for the purchase of Shares without imposition of a sales charge (for example, a wrap account, self-directed brokerage account, retirement, or other fee-based program offered by the Financial Intermediary) and where the Financial Intermediary has agreed with the principal underwriter not to receive an advanced commission on purchases under such program;
·                       of Shares purchased with reinvested dividends or capital gains;
·                       imposed by the Fund when it closes an account for not meeting the minimum balance requirements; and
·                       of Shares which were purchased pursuant to an exchange privilege if the Shares were held for the applicable CDSC holding period.

 

(B) SALES CHARGE WAIVERS FOR SHAREHOLDERS PURCHASING THROUGH CERTAIN FINANCIAL INTERMEDIARIES

 

Effective April 10, 2017, shareholders purchasing Fund shares through a Merrill Lynch platform or account will be eligible only for the following contingent deferred, or back-end, sales charge (“CDSC”) waivers and discounts, which may differ from those disclosed in Section A above.

 

CDSC Waivers on A, B and C Shares available at Merrill Lynch
 
Death or disability of the shareholder
Shares sold as part of a systematic withdrawal plan as described in the Fund’s prospectus
Return of excess contributions from an IRA Account
Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching age 70½  
Shares sold to pay Merrill Lynch fees but only if the transaction is initiated by Merrill Lynch
Shares acquired through a right of reinstatement
Shares held in retirement brokerage accounts, that are converted to a lower cost share class due to transfer to a fee based account or platform (applicable to A and C shares only).  CDSC applicable to shares converted for another class of shares through a fee based individual retirement account on the Merrill Lynch platform will be waived and Merrill Lynch will remit the portion of the payment to be made to the Distributor equal to the number of months remaining on the CDSC period divided by the total number of months of the CDSC period.
 

 

4.       Redemption Fee

 

For purposes of Rule 11a-3 under the Act, any redemption fee received upon the redemption or exchange of Class C Shares will be applied to fees incurred or amount expended in connection with such redemption or exchange. The balance of any redemption fees shall be paid to the Fund.

A Fund shall waive any redemption fee with respect to (i) non-participant directed redemptions or exchanges involving Class C Shares held in retirement plans established under Section 401(a) or 401(k) of the Internal Revenue Code (the “Code”), custodial plan accounts established under Section 493(b)(7) of the Code, or deferred compensation plans established under Section 457 of the Code; (ii) redemptions or exchanges involving Class C Shares held in plans administered as college savings programs under Section 529 of the Code; and (iii) Class C Shares redeemed due to the death of the last surviving shareholder on the account.

 

 
 

Schedule of Funds

Offering Class C Shares

 

The Funds set forth on this Schedule each offer Class C Shares on the terms set forth in the Class C Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

CLASS C SHARES SUBJECT TO THE BASIC LOAD SCHEDULE

Multiple Class Company
Series		 12b-1 Fee Redemption Fee
Federated Equity Funds:    
Federated Absolute Return Fund 0.75% None
Federated Clover Small Value Fund 0.75% None
Federated Clover Value Fund 0.75% None
Federated Emerging Markets Equity Fund 0.75% None
Federated Global Strategic Value Dividend Fund 0.75% None
Federated InterContinental Fund 0.75% None
Federated International Strategic Value Dividend Fund 0.75% None
Federated Kaufmann Fund 0.75% None
Federated Kaufmann Large Cap Fund 0.75% None
Federated Kaufmann Small Cap Fund 0.75% None
Federated MDT Mid-Cap Growth Fund 0.75% None
Federated Managed Volatility Fund 0.75% None
Federated Prudent Bear Fund 0.75% None
Federated Strategic Value Dividend Fund 0.75% None
     
Federated Equity Income Fund, Inc. 0.75% None
     
Federated Fixed Income Securities, Inc.:    
Federated Strategic Income Fund 0.75% None
     
Federated Global Allocation Fund 0.75% None
     
Federated Government Income Securities, Inc. 0.75% None
     
Federated High Income Bond Fund, Inc. 0.75% 2% on shares redeemed or exchanged within 90 days of purchase
     
Federated High Yield Trust 0.75% 2% on shares redeemed or exchanged within 90 days of purchase
     
Federated Income Securities Trust:    
Federated Capital Income Fund 0.75% None
Federated Floating Rate Strategic Income Fund 0.75% None
Federated Fund for U.S. Government Securities 0.75% None
Federated Muni and Stock Advantage Fund 0.75% None
Federated Prudent DollarBear Fund 0.75% None
Federated Real Return Bond Fund 0.75% None
     
 
 

CLASS C SHARES SUBJECT TO THE BASIC LOAD SCHEDULE (continued)

Multiple Class Company
Series		 12b-1 Fee Redemption Fee
Federated Index Trust    
Federated Max-Cap Index Fund 0.75% None
     
Federated International Series, Inc.:    
Federated Global Total Return Bond Fund (formerly Federated International Bond Fund) 0.75% None
     
Federated Investment Series Funds, Inc.:    
Federated Bond Fund 0.75% None
     
Federated MDT Series:    
Federated MDT All Cap Core Fund 0.75% None
Federated MDT Balanced Fund 0.75% None
Federated MDT Large Cap Growth Fund 0.75% None
Federated MDT Small Cap Core Fund 0.75% None
Federated MDT Small Cap Growth Fund 0.75% None
     
Federated Municipal Securities Fund, Inc. 0.75% None
     
Federated Municipal Securities Income Trust:    
Federated Municipal High Yield Advantage Fund 0.75% None
     
Federated Total Return Series, Inc.:    
Federated Total Return Bond Fund 0.75% None
     
Federated World Investment Series, Inc.:    
Federated Emerging Market Debt Fund 0.75% None
Federated International Leaders Fund 0.75% None
Federated International Small-Mid Company Fund 0.75% 2% on shares redeemed or exchanged within 30 days of purchase
     
Money Market Obligations Trust:    
Federated Government Reserves Fund 0.75% None