1933 Act File No. | 333-218374 |
1940 Act File No. | 811-23259 |
Form N-1A
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | ||||
Pre-Effective Amendment No. | ||||
Post-Effective Amendment No. | 6 | |||
and/or | ||||
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | ||||
Amendment No. | 7 | |||
FEDERATED ADVISER SERIES
(Exact Name of Registrant as Specified in Charter)
Federated Investors Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant’s Telephone Number, including Area Code)
Peter J. Germain, Esquire
Federated Investors Tower
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)
It is proposed that this filing will become effective (check appropriate box): | |||
X | immediately upon filing pursuant to paragraph (b) | ||
on | pursuant to paragraph (b) | ||
60 days after filing pursuant to paragraph (a)(1) | |||
on | pursuant to paragraph (a)(1) | ||
75 days after filing pursuant to paragraph (a)(2) | |||
on | pursuant to paragraph (a)(2) of Rule 485 | ||
If appropriate, check the following box: | |||
This post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
SIGNATURES Pursuant to the requirements of the Securities Act of 1933, and the Investment Company Act of 1940, the Registrant, FEDERATED ADVISER SERIES, certifies that it meets all of the requirements for effectiveness of this Amendment to its Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Pittsburgh and Commonwealth of Pennsylvania, on the 20th day of November, 2018. |
FEDERATED ADVISER SERIES |
BY: /s/ George F. Magera George F. Magera, Assistant Secretary |
Pursuant to the requirements of the Securities Act of 1933, this Amendment to its Registration Statement has been signed below by the following person in the capacity and on the date indicated: |
NAME | TITLE | DATE |
BY: /s/ George F. Magera George F. Magera, |
Attorney In Fact For the Persons Listed Below | November 20, 2018 |
J. Christopher Donahue* | President and Trustee (Principal Executive Officer) | |
John B. Fisher* | Trustee | |
Lori A. Hensler* | Treasurer (Principal Financial Officer/Principal Accounting Officer) | |
John T. Collins* | Trustee | |
G. Thomas Hough* | Trustee | |
Maureen E. Lally-Green* | Trustee | |
Peter E. Madden* | Trustee | |
Charles F. Mansfield, Jr.* | Trustee | |
Thomas O’Neill* | Trustee | |
P. Jerome Richey* | Trustee | |
John S. Walsh* | Trustee | |
*By Power of Attorney |
Federated Hermes SDG Engagement Equity Fund Class A Shares, Class C Shares, Class R6 Shares and Institutional Shares A Portfolio of Federated Adviser Series Post-Effective Amendment No. 6 |
This Post-Effective Amendment is filed for the sole purpose of submitting the XBRL Interactive Data File exhibits for the Risk/Return Summary of the above-named Fund filed as part of Post-Effective Amendment No. 5 on November 1, 2018. The exhibits filed herewith do not constitute the complete publicly filed disclosure for the Fund, and should be used in conjunction with the complete prospectus for the Fund. |
Exhibit List for Interactive Data File Submissions.
|
EX-101.INS | INSTANCE |
EX-101.SCH | SCHEMA |
EX-101.CAL | CALCULATION LINKBASE |
EX-101.DEF | DEFINITION LINKBASE |
EX-101.LAB | LABEL LINKBASE |
EX-101.PRE | PRESENTATION LINKBASE |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 485BPOS |
Document Period End Date | dei_DocumentPeriodEndDate | Nov. 01, 2018 |
Registrant Name | dei_EntityRegistrantName | Federated Adviser Series |
Central Index Key | dei_EntityCentralIndexKey | 0001707560 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | Nov. 01, 2018 |
Document Effective Date | dei_DocumentEffectiveDate | Nov. 01, 2018 |
Prospectus Date | rr_ProspectusDate | Nov. 01, 2018 |
Entity Inv Company Type | dei_EntityInvCompanyType | N-1A |
Class A C and R6 Shares | Federated Hermes SDG Engagement Equity Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>Federated Hermes SDG Engagement Equity Fund (the "Fund")</b> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE </b> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Fund's investment objective is to provide long term capital appreciation alongside positive societal impact. The objective may be changed by the Fund's Board of Trustees (the "Trustees") without shareholder approval. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: FEES AND EXPENSES </b> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold Class A Shares (A), Class C Shares (C) and Class R6 Shares (R6) of the Fund. You may qualify for certain sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes of Federated Funds. More information about these and other discounts is available from your financial professional, in the "What Do Shares Cost?" section of the Prospectus on page 14 and in "Appendix B" to this Prospectus. If you purchase the Fund's R6 Shares through a broker acting as an agent on behalf of its customers, you may be required to pay a commission to such broker; such commissions, if any, are not reflected in the Example below. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholder Fees (fees paid directly from your investment) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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<b>Example </b> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. Expenses assuming no redemption are also shown. The Example also assumes that your investment has a 5% return each year and that the operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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<b>PORTFOLIO TURNOVER </b> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example above, affect the Fund's performance. The Fund is a new fund, has not yet completed its first fiscal year of operation and has no portfolio turnover yet to report. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE </b><br/><br/><b>What are the Fund's Main Investment Strategies? </b> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Fund pursues its investment objective of long-term capital appreciation alongside positive societal impact by investing, under normal circumstances, at least 80% of its net assets in equity securities. In seeking to achieve its objective, the Fund may invest its assets in companies of all capitalizations, however, the Fund's investment adviser or sub-adviser (as applicable, the "Adviser") anticipates that the Fund will be primarily invested in equity securities and equity-related securities (such as depositary receipts) of small- and mid-capitalization companies in both the United States and foreign markets (including emerging markets). The Fund may also invest in and/or gain exposure to securities of other investment companies including exchange-traded funds (ETFs), real estate investment trusts (REITs), and money market funds including funds advised by the Adviser or its affiliates. In managing the assets of the Fund, the Adviser will seek to invest in companies that, in its view, provide the potential for long-term capital appreciation while also contributing to positive societal impact aligned to the United Nations Sustainable Development Goals (the "UN Sustainable Development Goals") (as outlined in further detail below).1 It will do so by performing bottom-up fundamental analysis of financial criteria such as balance sheet quality, franchise value (i.e., brand strength and sustainability of the business model) and quality of management. The review process may include analysis of financial statements, meetings with management, consideration of the general economic environment in which the company operates, structural growth potential of the relevant industry segment and other relevant factors which allow the Adviser to assess the intrinsic value of a company, and a comparison to the market valuation, as reflected in the current share price. The Adviser also will use standard accounting methodologies to assess the growth prospects of a company by estimating its future operating cash flow less capital expenditures (adjusted for the time value of money). The Adviser believes this analysis may help determine whether the companies may provide the potential for long-term capital appreciation, notwithstanding that equities of such companies may, at the time of purchase, be undervalued. In addition to fundamental financial indicator criteria, the Adviser may consider engagement criteria such as assessment of company management competence, integrity, and vision, as well as exposure to one or multiple UN Sustainable Development Goals. The Adviser intends to invest in small- and mid-capitalization companies that it believes will implement best in class UN Sustainable Development Goals practices. The Adviser will utilize bottom-up analysis of companies' respective supply chains, direct operations, products and services to identify those businesses with the best opportunity for improvement in areas such as education, water, and energy conservation. The Fund will not be subject to any limitation on the types of companies in which it may invest (either in terms of industry or focus) so long as these companies are viewed by the Adviser to provide the potential for long-term capital appreciation while also contributing to positive societal impact aligned to the UN Sustainable Development Goals. The Fund may, from time to time, have larger allocations to certain broad market sectors in attempting to achieve its investment objective. The Fund may invest in other investment companies (including ETFs) and futures contracts to implement elements of its investment strategy, including for cash flow management, cost effectiveness, and gaining exposure to certain markets and securities in a quicker and/or more efficient manner. There can be no assurance that the Fund's use of futures contracts will work as intended. Futures contract investments made by the Fund are included within the Fund's 80% policy and are calculated at market value. The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in equity securities. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would permit the Fund to invest, under normal circumstances, less than 80% of its net assets (plus any borrowings for investment purposes) in investments in equity securities. 1Please refer to https://sustainabledevelopment.un.org/?menu=1300 for further information on the United Nations Sustainable Development Goals Portfolio Turnover The Fund actively trades its portfolio securities in an attempt to achieve its investment objective, although the Fund expects to have low portfolio turnover. Active trading may cause the Fund to have an increased portfolio turnover rate and increase the Fund's trading costs, which may have an adverse impact on the Fund's performance. An active trading strategy may result in the Fund generating more short-term capital gains or losses. Short-term gains are generally taxed at a higher rate than long-term gains. Any short-term losses are used first to offset short-term gains. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
<b>What are the Main (or Principal) Risks of Investing in the Fund? </b> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
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<b>PERFORMANCE: BAR CHART AND TABLE </b> | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
A performance bar chart and total return information for the Fund will be provided after the Fund has been in operation for a full calendar year. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. |
Label | Element | Value | ||||||
---|---|---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||||
Registrant Name | dei_EntityRegistrantName | Federated Adviser Series | ||||||
Prospectus Date | rr_ProspectusDate | Nov. 01, 2018 | ||||||
Class A C and R6 Shares | Federated Hermes SDG Engagement Equity Fund | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
Risk/Return [Heading] | rr_RiskReturnHeading | <b>Federated Hermes SDG Engagement Equity Fund (the "Fund")</b> | ||||||
Objective [Heading] | rr_ObjectiveHeading | <b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE </b> | ||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund's investment objective is to provide long term capital appreciation alongside positive societal impact. The objective may be changed by the Fund's Board of Trustees (the "Trustees") without shareholder approval. | ||||||
Expense [Heading] | rr_ExpenseHeading | <b>RISK/RETURN SUMMARY: FEES AND EXPENSES </b> | ||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold Class A Shares (A), Class C Shares (C) and Class R6 Shares (R6) of the Fund. You may qualify for certain sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes of Federated Funds. More information about these and other discounts is available from your financial professional, in the "What Do Shares Cost?" section of the Prospectus on page 14 and in "Appendix B" to this Prospectus. If you purchase the Fund's R6 Shares through a broker acting as an agent on behalf of its customers, you may be required to pay a commission to such broker; such commissions, if any, are not reflected in the Example below. | ||||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) | ||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b> | ||||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | November 1, 2019 | ||||||
Fee Waiver Or Reimbursement Over Assets, Later Of Termination Or Next Effective Prospectus | fmet_FeeWaiverOrReimbursementOverAssetsLaterOfTerminationOrNextEffectiveProspectus | up to but not including the later of (the "Termination Date"): (a) November 1, 2019; or (b) the date of the Fund's next effective Prospectus. | ||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <b>PORTFOLIO TURNOVER </b> | ||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example above, affect the Fund's performance. The Fund is a new fund, has not yet completed its first fiscal year of operation and has no portfolio turnover yet to report. | ||||||
Expense Breakpoint Discounts [Text] | rr_ExpenseBreakpointDiscounts | You may qualify for certain sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes of Federated Funds. | ||||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 50,000 | ||||||
Expense Exchange Traded Fund Commissions [Text] | rr_ExpenseExchangeTradedFundCommissions | If you purchase the Fund's R6 Shares through a broker acting as an agent on behalf of its customers, you may be required to pay a commission to such broker; such commissions, if any, are not reflected in the Example below. | ||||||
Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | Other Expenses are based on estimated amounts for the current fiscal year. | ||||||
Acquired Fund Fees and Expenses, Based on Estimates [Text] | rr_AcquiredFundFeesAndExpensesBasedOnEstimates | Acquired Fund Fees and Expenses and Other Expenses are based on estimated amounts for the current fiscal year. | ||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | <b>Example </b> | ||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. Expenses assuming no redemption are also shown. The Example also assumes that your investment has a 5% return each year and that the operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: |
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Strategy [Heading] | rr_StrategyHeading | <b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE </b><br/><br/><b>What are the Fund's Main Investment Strategies? </b> | ||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund pursues its investment objective of long-term capital appreciation alongside positive societal impact by investing, under normal circumstances, at least 80% of its net assets in equity securities. In seeking to achieve its objective, the Fund may invest its assets in companies of all capitalizations, however, the Fund's investment adviser or sub-adviser (as applicable, the "Adviser") anticipates that the Fund will be primarily invested in equity securities and equity-related securities (such as depositary receipts) of small- and mid-capitalization companies in both the United States and foreign markets (including emerging markets). The Fund may also invest in and/or gain exposure to securities of other investment companies including exchange-traded funds (ETFs), real estate investment trusts (REITs), and money market funds including funds advised by the Adviser or its affiliates. In managing the assets of the Fund, the Adviser will seek to invest in companies that, in its view, provide the potential for long-term capital appreciation while also contributing to positive societal impact aligned to the United Nations Sustainable Development Goals (the "UN Sustainable Development Goals") (as outlined in further detail below).1 It will do so by performing bottom-up fundamental analysis of financial criteria such as balance sheet quality, franchise value (i.e., brand strength and sustainability of the business model) and quality of management. The review process may include analysis of financial statements, meetings with management, consideration of the general economic environment in which the company operates, structural growth potential of the relevant industry segment and other relevant factors which allow the Adviser to assess the intrinsic value of a company, and a comparison to the market valuation, as reflected in the current share price. The Adviser also will use standard accounting methodologies to assess the growth prospects of a company by estimating its future operating cash flow less capital expenditures (adjusted for the time value of money). The Adviser believes this analysis may help determine whether the companies may provide the potential for long-term capital appreciation, notwithstanding that equities of such companies may, at the time of purchase, be undervalued. In addition to fundamental financial indicator criteria, the Adviser may consider engagement criteria such as assessment of company management competence, integrity, and vision, as well as exposure to one or multiple UN Sustainable Development Goals. The Adviser intends to invest in small- and mid-capitalization companies that it believes will implement best in class UN Sustainable Development Goals practices. The Adviser will utilize bottom-up analysis of companies' respective supply chains, direct operations, products and services to identify those businesses with the best opportunity for improvement in areas such as education, water, and energy conservation. The Fund will not be subject to any limitation on the types of companies in which it may invest (either in terms of industry or focus) so long as these companies are viewed by the Adviser to provide the potential for long-term capital appreciation while also contributing to positive societal impact aligned to the UN Sustainable Development Goals. The Fund may, from time to time, have larger allocations to certain broad market sectors in attempting to achieve its investment objective. The Fund may invest in other investment companies (including ETFs) and futures contracts to implement elements of its investment strategy, including for cash flow management, cost effectiveness, and gaining exposure to certain markets and securities in a quicker and/or more efficient manner. There can be no assurance that the Fund's use of futures contracts will work as intended. Futures contract investments made by the Fund are included within the Fund's 80% policy and are calculated at market value. The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in equity securities. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would permit the Fund to invest, under normal circumstances, less than 80% of its net assets (plus any borrowings for investment purposes) in investments in equity securities. 1Please refer to https://sustainabledevelopment.un.org/?menu=1300 for further information on the United Nations Sustainable Development Goals Portfolio Turnover The Fund actively trades its portfolio securities in an attempt to achieve its investment objective, although the Fund expects to have low portfolio turnover. Active trading may cause the Fund to have an increased portfolio turnover rate and increase the Fund's trading costs, which may have an adverse impact on the Fund's performance. An active trading strategy may result in the Fund generating more short-term capital gains or losses. Short-term gains are generally taxed at a higher rate than long-term gains. Any short-term losses are used first to offset short-term gains. |
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Risk [Heading] | rr_RiskHeading | <b>What are the Main (or Principal) Risks of Investing in the Fund? </b> | ||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
|
||||||
Risk Lose Money [Text] | rr_RiskLoseMoney | All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. | ||||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. | ||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <b>PERFORMANCE: BAR CHART AND TABLE </b> | ||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | A performance bar chart and total return information for the Fund will be provided after the Fund has been in operation for a full calendar year. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. | ||||||
Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | A performance bar chart and total return information for the Fund will be provided after the Fund has been in operation for a full calendar year. | ||||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | 1-800-341-7400 | ||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | FederatedInvestors.com | ||||||
Class A C and R6 Shares | Federated Hermes SDG Engagement Equity Fund | A | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 5.50% | ||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||
Redemption Fee (as a percentage of amount redeemed, if applicable) | rr_RedemptionFeeOverRedemption | none | ||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||
Management Fee | rr_ManagementFeesOverAssets | 0.75% | ||||||
Distribution (12b-1) Fee | rr_DistributionAndService12b1FeesOverAssets | none | [1] | |||||
Other Expenses | rr_OtherExpensesOverAssets | 0.95% | [2] | |||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | [2] | |||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.71% | ||||||
Fee Waiver and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.51%) | [3] | |||||
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 1.20% | ||||||
1 Year | rr_ExpenseExampleYear01 | $ 714 | ||||||
3 Years | rr_ExpenseExampleYear03 | 1,059 | ||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 714 | ||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | $ 1,059 | ||||||
Class A C and R6 Shares | Federated Hermes SDG Engagement Equity Fund | C | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | rr_MaximumDeferredSalesChargeOverOther | 1.00% | ||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||
Redemption Fee (as a percentage of amount redeemed, if applicable) | rr_RedemptionFeeOverRedemption | none | ||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||
Management Fee | rr_ManagementFeesOverAssets | 0.75% | ||||||
Distribution (12b-1) Fee | rr_DistributionAndService12b1FeesOverAssets | 0.75% | ||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.95% | [2] | |||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | [2] | |||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.46% | ||||||
Fee Waiver and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.51%) | [3] | |||||
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 1.95% | ||||||
1 Year | rr_ExpenseExampleYear01 | $ 349 | ||||||
3 Years | rr_ExpenseExampleYear03 | 767 | ||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 249 | ||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | $ 767 | ||||||
Class A C and R6 Shares | Federated Hermes SDG Engagement Equity Fund | R6 | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||
Redemption Fee (as a percentage of amount redeemed, if applicable) | rr_RedemptionFeeOverRedemption | none | ||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||
Management Fee | rr_ManagementFeesOverAssets | 0.75% | ||||||
Distribution (12b-1) Fee | rr_DistributionAndService12b1FeesOverAssets | none | ||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.60% | [2] | |||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | [2] | |||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.36% | ||||||
Fee Waiver and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.42%) | [3] | |||||
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.94% | ||||||
1 Year | rr_ExpenseExampleYear01 | $ 138 | ||||||
3 Years | rr_ExpenseExampleYear03 | 431 | ||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 138 | ||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | $ 431 | ||||||
|
Class Institutional Shares | Federated Hermes SDG Engagement Equity Fund | ||||||||||||||||||||||||||||||
<b>Federated Hermes SDG Engagement Equity Fund (the "Fund")</b> | ||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> | ||||||||||||||||||||||||||||||
The Fund's investment objective is to provide long term capital appreciation alongside positive societal impact. The objective may be changed by the Fund's Board of Trustees (the "Trustees") without shareholder approval. | ||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: FEES AND EXPENSES</b> | ||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold Institutional Shares (IS) of the Fund. If you purchase the Fund's Shares through a broker acting as an agent on behalf of its customers, you may be required to pay a commission to such broker; such commissions, if any, are not reflected in the Example below. | ||||||||||||||||||||||||||||||
Shareholder Fees (fees paid directly from your investment) | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b> | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
<b>Example </b> | ||||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
<b>PORTFOLIO TURNOVER </b> | ||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example above, affect the Fund's performance. The Fund is a new fund, has not yet completed its first fiscal year of operation and has no portfolio turnover yet to report. | ||||||||||||||||||||||||||||||
<b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE<br/><br/>What are the Fund's Main Investment Strategies?</b> | ||||||||||||||||||||||||||||||
The Fund pursues its investment objective of long-term capital appreciation alongside positive societal impact by investing, under normal circumstances, at least 80% of its net assets in equity securities. In seeking to achieve its objective, the Fund may invest its assets in companies of all capitalizations, however, the Fund's investment adviser or sub-adviser (as applicable, the "Adviser") anticipates that the Fund will be primarily invested in equity securities and equity-related securities (such as depositary receipts) of small- and mid-capitalization companies in both the United States and foreign markets (including emerging markets). The Fund may also invest in and/or gain exposure to securities of other investment companies including exchange-traded funds (ETFs), real estate investment trusts (REITs), and money market funds including funds advised by the Adviser or its affiliates. In managing the assets of the Fund, the Adviser will seek to invest in companies that, in its view, provide the potential for long-term capital appreciation while also contributing to positive societal impact aligned to the United Nations Sustainable Development Goals (the "UN Sustainable Development Goals") (as outlined in further detail below).1 It will do so by performing bottom-up fundamental analysis of financial criteria such as balance sheet quality, franchise value (i.e., brand strength and sustainability of the business model) and quality of management. The review process may include analysis of financial statements, meetings with management, consideration of the general economic environment in which the company operates, structural growth potential of the relevant industry segment and other relevant factors which allow the Adviser to assess the intrinsic value of a company, and a comparison to the market valuation, as reflected in the current share price. The Adviser also will use standard accounting methodologies to assess the growth prospects of a company by estimating its future operating cash flow less capital expenditures (adjusted for the time value of money). The Adviser believes this analysis may help determine whether the companies may provide the potential for long-term capital appreciation, notwithstanding that equities of such companies may, at the time of purchase, be undervalued. In addition to fundamental financial indicator criteria, the Adviser may consider engagement criteria such as assessment of company management competence, integrity, and vision, as well as exposure to one or multiple UN Sustainable Development Goals. The Adviser intends to invest in small- and mid-capitalization companies that it believes will implement best in class UN Sustainable Development Goals practices. The Adviser will utilize bottom-up analysis of companies' respective supply chains, direct operations, products and services to identify those businesses with the best opportunity for improvement in areas such as education, water, and energy conservation. The Fund will not be subject to any limitation on the types of companies in which it may invest (either in terms of industry or focus) so long as these companies are viewed by the Adviser to provide the potential for long-term capital appreciation while also contributing to positive societal impact aligned to the UN Sustainable Development Goals. The Fund may, from time to time, have larger allocations to certain broad market sectors in attempting to achieve its investment objective. The Fund may invest in other investment companies (including ETFs) and futures contracts to implement elements of its investment strategy, including for cash flow management, cost effectiveness, and gaining exposure to certain markets and securities in a quicker and/or more efficient manner. There can be no assurance that the Fund's use of futures contracts will work as intended. Futures contract investments made by the Fund are included within the Fund's 80% policy and are calculated at market value. The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in equity securities. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would permit the Fund to invest, under normal circumstances, less than 80% of its net assets (plus any borrowings for investment purposes) in investments in equity securities. 1Please refer to https://sustainabledevelopment.un.org/?menu=1300 for further information on the United Nations Sustainable Development Goals Portfolio Turnover The Fund actively trades its portfolio securities in an attempt to achieve its investment objective, although the Fund expects to have low portfolio turnover. Active trading may cause the Fund to have an increased portfolio turnover rate and increase the Fund's trading costs, which may have an adverse impact on the Fund's performance. An active trading strategy may result in the Fund generating more short-term capital gains or losses. Short-term gains are generally taxed at a higher rate than long-term gains. Any short-term losses are used first to offset short-term gains. | ||||||||||||||||||||||||||||||
<b>What are the Main (or Principal) Risks of Investing in the Fund?</b> | ||||||||||||||||||||||||||||||
All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
| ||||||||||||||||||||||||||||||
<b>PERFORMANCE: BAR CHART AND TABLE</b> | ||||||||||||||||||||||||||||||
A performance bar chart and total return information for the Fund will be provided after the Fund has been in operation for a full calendar year. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. |
Label | Element | Value | ||||||
---|---|---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||||
Registrant Name | dei_EntityRegistrantName | Federated Adviser Series | ||||||
Prospectus Date | rr_ProspectusDate | Nov. 01, 2018 | ||||||
Class Institutional Shares | Federated Hermes SDG Engagement Equity Fund | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
Risk/Return [Heading] | rr_RiskReturnHeading | <b>Federated Hermes SDG Engagement Equity Fund (the "Fund")</b> | ||||||
Objective [Heading] | rr_ObjectiveHeading | <b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> | ||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund's investment objective is to provide long term capital appreciation alongside positive societal impact. The objective may be changed by the Fund's Board of Trustees (the "Trustees") without shareholder approval. | ||||||
Expense [Heading] | rr_ExpenseHeading | <b>RISK/RETURN SUMMARY: FEES AND EXPENSES</b> | ||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold Institutional Shares (IS) of the Fund. If you purchase the Fund's Shares through a broker acting as an agent on behalf of its customers, you may be required to pay a commission to such broker; such commissions, if any, are not reflected in the Example below. | ||||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) | ||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b> | ||||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | November 1, 2019 | ||||||
Fee Waiver Or Reimbursement Over Assets, Later Of Termination Or Next Effective Prospectus | fmet_FeeWaiverOrReimbursementOverAssetsLaterOfTerminationOrNextEffectiveProspectus | up to but not including the later of (the "Termination Date"): (a) November 1, 2019; or (b) the date of the Fund's next effective Prospectus. | ||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <b>PORTFOLIO TURNOVER </b> | ||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example above, affect the Fund's performance. The Fund is a new fund, has not yet completed its first fiscal year of operation and has no portfolio turnover yet to report. | ||||||
Expense Exchange Traded Fund Commissions [Text] | rr_ExpenseExchangeTradedFundCommissions | If you purchase the Fund's Shares through a broker acting as an agent on behalf of its customers, you may be required to pay a commission to such broker; such commissions, if any, are not reflected in the Example below. | ||||||
Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | Other Expenses are based on estimated amounts for the current fiscal year. | ||||||
Acquired Fund Fees and Expenses, Based on Estimates [Text] | rr_AcquiredFundFeesAndExpensesBasedOnEstimates | Acquired Fund Fees and Expenses and Other Expenses are based on estimated amounts for the current fiscal year. | ||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | <b>Example </b> | ||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: |
||||||
Strategy [Heading] | rr_StrategyHeading | <b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE<br/><br/>What are the Fund's Main Investment Strategies?</b> | ||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund pursues its investment objective of long-term capital appreciation alongside positive societal impact by investing, under normal circumstances, at least 80% of its net assets in equity securities. In seeking to achieve its objective, the Fund may invest its assets in companies of all capitalizations, however, the Fund's investment adviser or sub-adviser (as applicable, the "Adviser") anticipates that the Fund will be primarily invested in equity securities and equity-related securities (such as depositary receipts) of small- and mid-capitalization companies in both the United States and foreign markets (including emerging markets). The Fund may also invest in and/or gain exposure to securities of other investment companies including exchange-traded funds (ETFs), real estate investment trusts (REITs), and money market funds including funds advised by the Adviser or its affiliates. In managing the assets of the Fund, the Adviser will seek to invest in companies that, in its view, provide the potential for long-term capital appreciation while also contributing to positive societal impact aligned to the United Nations Sustainable Development Goals (the "UN Sustainable Development Goals") (as outlined in further detail below).1 It will do so by performing bottom-up fundamental analysis of financial criteria such as balance sheet quality, franchise value (i.e., brand strength and sustainability of the business model) and quality of management. The review process may include analysis of financial statements, meetings with management, consideration of the general economic environment in which the company operates, structural growth potential of the relevant industry segment and other relevant factors which allow the Adviser to assess the intrinsic value of a company, and a comparison to the market valuation, as reflected in the current share price. The Adviser also will use standard accounting methodologies to assess the growth prospects of a company by estimating its future operating cash flow less capital expenditures (adjusted for the time value of money). The Adviser believes this analysis may help determine whether the companies may provide the potential for long-term capital appreciation, notwithstanding that equities of such companies may, at the time of purchase, be undervalued. In addition to fundamental financial indicator criteria, the Adviser may consider engagement criteria such as assessment of company management competence, integrity, and vision, as well as exposure to one or multiple UN Sustainable Development Goals. The Adviser intends to invest in small- and mid-capitalization companies that it believes will implement best in class UN Sustainable Development Goals practices. The Adviser will utilize bottom-up analysis of companies' respective supply chains, direct operations, products and services to identify those businesses with the best opportunity for improvement in areas such as education, water, and energy conservation. The Fund will not be subject to any limitation on the types of companies in which it may invest (either in terms of industry or focus) so long as these companies are viewed by the Adviser to provide the potential for long-term capital appreciation while also contributing to positive societal impact aligned to the UN Sustainable Development Goals. The Fund may, from time to time, have larger allocations to certain broad market sectors in attempting to achieve its investment objective. The Fund may invest in other investment companies (including ETFs) and futures contracts to implement elements of its investment strategy, including for cash flow management, cost effectiveness, and gaining exposure to certain markets and securities in a quicker and/or more efficient manner. There can be no assurance that the Fund's use of futures contracts will work as intended. Futures contract investments made by the Fund are included within the Fund's 80% policy and are calculated at market value. The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in equity securities. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would permit the Fund to invest, under normal circumstances, less than 80% of its net assets (plus any borrowings for investment purposes) in investments in equity securities. 1Please refer to https://sustainabledevelopment.un.org/?menu=1300 for further information on the United Nations Sustainable Development Goals Portfolio Turnover The Fund actively trades its portfolio securities in an attempt to achieve its investment objective, although the Fund expects to have low portfolio turnover. Active trading may cause the Fund to have an increased portfolio turnover rate and increase the Fund's trading costs, which may have an adverse impact on the Fund's performance. An active trading strategy may result in the Fund generating more short-term capital gains or losses. Short-term gains are generally taxed at a higher rate than long-term gains. Any short-term losses are used first to offset short-term gains. |
||||||
Risk [Heading] | rr_RiskHeading | <b>What are the Main (or Principal) Risks of Investing in the Fund?</b> | ||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
|
||||||
Risk Lose Money [Text] | rr_RiskLoseMoney | All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. | ||||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. | ||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <b>PERFORMANCE: BAR CHART AND TABLE</b> | ||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | A performance bar chart and total return information for the Fund will be provided after the Fund has been in operation for a full calendar year. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. | ||||||
Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | A performance bar chart and total return information for the Fund will be provided after the Fund has been in operation for a full calendar year. | ||||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | 1-800-341-7400 | ||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | FederatedInvestors.com | ||||||
Class Institutional Shares | Federated Hermes SDG Engagement Equity Fund | IS | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||
Redemption Fee (as a percentage of amount redeemed, if applicable) | rr_RedemptionFeeOverRedemption | none | ||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||
Management Fee | rr_ManagementFeesOverAssets | 0.75% | ||||||
Distribution (12b-1) Fee | rr_DistributionAndService12b1FeesOverAssets | none | ||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.70% | [1],[2] | |||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | [1] | |||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.46% | ||||||
Fee Waiver and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.51%) | [3] | |||||
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | rr_NetExpensesOverAssets | 0.95% | ||||||
1 Year | rr_ExpenseExampleYear01 | $ 149 | ||||||
3 Years | rr_ExpenseExampleYear03 | $ 462 | ||||||
|
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | Federated Adviser Series |
Prospectus Date | rr_ProspectusDate | Nov. 01, 2018 |
Document Creation Date | dei_DocumentCreationDate | Nov. 01, 2018 |
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