0001623632-19-000239.txt : 20190213 0001623632-19-000239.hdr.sgml : 20190213 20190213145533 ACCESSION NUMBER: 0001623632-19-000239 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 28 FILED AS OF DATE: 20190213 DATE AS OF CHANGE: 20190213 EFFECTIVENESS DATE: 20190213 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FEDERATED WORLD INVESTMENT SERIES INC CENTRAL INDEX KEY: 0000918199 IRS NUMBER: 251726922 STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-52149 FILM NUMBER: 19596486 BUSINESS ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 BUSINESS PHONE: 18003417400 MAIL ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 FORMER COMPANY: FORMER CONFORMED NAME: WORLD INVESTMENT SERIES INC DATE OF NAME CHANGE: 19940127 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FEDERATED WORLD INVESTMENT SERIES INC CENTRAL INDEX KEY: 0000918199 IRS NUMBER: 251726922 STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07141 FILM NUMBER: 19596487 BUSINESS ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 BUSINESS PHONE: 18003417400 MAIL ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 FORMER COMPANY: FORMER CONFORMED NAME: WORLD INVESTMENT SERIES INC DATE OF NAME CHANGE: 19940127 0000918199 S000009122 Federated Emerging Market Debt Fund C000024817 Class A Shares IHIAX C000024819 Class C Shares IHICX C000114967 Institutional Shares EMDIX 0000918199 S000009123 Federated International Small-Mid Company Fund C000024820 Class A Shares ISCAX C000024822 Class C Shares ISCCX C000062082 Institutional Shares ISCIX C000188303 Class T Shares 0000918199 S000009124 Federated International Leaders Fund C000024823 Class A Shares FGFAX C000024824 Class B Shares FGFBX C000024825 Class C Shares FGFCX C000090240 Institutional Shares FGFLX C000129977 Class R6 Shares FGRSX C000130407 Class R Shares FGFRX C000188304 Class T Shares 485BPOS 1 form.htm
1933 Act File No. 33-52149
1940 Act File No. 811-7141

 

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.   73
 
and/or
   
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940  
       
  Amendment No.   74
         

 

 

 

FEDERATED WORLD INVESTMENT SERIES, INC.

(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 WORLD INVESTMENT SERIES, INC., 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 13th day of February, 2019.

FEDERATED WORLD INVESTMENT SERIES, INC.

 

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,
Assistant Secretary

Attorney In Fact For the Persons Listed Below February 13, 2019

J. Christopher Donahue *

 

President and Director (Principal Executive Officer)  
Thomas R. Donahue* Director  
Lori A. Hensler* Treasurer (Principal Financial Officer/Principal Accounting Officer)  
John T. Collins* Director  
G. Thomas Hough* Director  
Maureen Lally-Green* Director  
Charles F. Mansfield, Jr.* Director  
Thomas O’Neill* Director  
P. Jerome Richey* Director  
John S. Walsh* Director  
*By Power of Attorney    

 

 
 

 

Federated Emerging Market Debt Fund

Class A Shares

Class C Shares

Institutional Shares

Federated International Leaders Fund

Class A Shares

Class B Shares

Class C Shares

Institutional Shares

Class R Shares

Class R6 Shares

Class T Shares

Federated International Small-Mid Company Fund

Class A Shares

Class C Shares

Institutional Shares

Class T Shares

Portfolios of Federated World Investment Series, Inc.

Post-Effective Amendment No. 73

This Post-Effective Amendment is filed for the sole purpose of submitting the XBRL Interactive Data File exhibits for the Risk/Return Summaries of the above-named Funds filed as part of Post-Effective Amendment No. 72 on January 28, 2019.  The exhibits filed herewith do not constitute the complete publicly filed disclosure for the Funds, and should be used in conjunction with the complete prospectuses for the Funds.

 

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

 

 

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The Fund has a secondary objective of capital appreciation. <b>Federated Emerging Market Debt Fund (the "Fund")</b> <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 Institutional Shares (IS) 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 $100,000 in A class 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 18 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS 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. <b>Shareholder Fees (fees paid directly from your investment)</b> <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.<br/><br/> 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: <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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 140% of the average value of its portfolio. <b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE <br/><br/>What are the Fund's Main Investment Strategies?</b> The Fund invests primarily in a portfolio of emerging market fixed-income investments. The Fund's investments may be denominated in foreign currencies or U.S. dollars, and may be of any duration. The Fund may invest in non-investment grade debt investments, which may offer higher yields than investment-grade debt investments. Investors in lower-rated foreign debt investments may receive higher yields as compensation for assuming higher credit risks. The Fund does not limit the amount it may invest in investments rated below investment-grade. The Fund may invest in derivative contracts to implement its investment strategies, as more fully described herein. When the Fund's investment adviser (the "Adviser") considers the risk/return prospects of emerging market equity securities to be attractive, the Fund may also opportunistically invest in convertible securities, equity securities or pooled vehicles such as exchange-traded funds (ETFs) or other investment companies in order to gain exposure to a specific region, country, or market sector or for other reasons consistent with its investment strategy. The Adviser actively manages the Fund's portfolio seeking total returns over longer periods in excess of the Fund's broad based securities market index, the JP Morgan Emerging Markets Bond Index Global (EMBIG) and a blended supplemental index (as described in the Average Annual Total Return Table below). The EMBIG covers emerging market countries in the following regions: Americas, Europe, Asia, Middle East and Africa. The performance of the Fund, as an actively managed portfolio, should be evaluated against the EMBIG and the blended supplemental index over longer periods of time. Volatility in emerging markets means that even small differences in time periods for comparison can have a substantial impact on returns. The Fund has no duration target or parameters with respect to its average portfolio duration. Rather, the Adviser may lengthen or shorten average portfolio duration in response to changing market conditions. These duration adjustments can be made either by buying or selling portfolio investments or through the use of derivative contracts.<br/><br/> The investment process entails a thorough assessment of the global macroeconomic environment and determines the most relevant investment themes that drive emerging markets. These investment themes can be either secular or cyclical in nature and are intended to define guiding principles which permeate through the various stages of the investment process from country and sector to individual corporate issuers. In selecting investments, the Adviser gives emphasis to the underlying quality of issuers domiciled in emerging market countries. The Adviser performs intensive credit analysis of both sovereign and corporate debt issues. Secondarily, the Adviser considers the extent to which market interest rates may impact the potential investment return of emerging markets debt investments. <br/><br/> While the Adviser may use derivatives to limit the negative effect on the Fund's investment returns inclusive of those losses that may be incurred due to anticipated changes in the relative values of selected currencies in the portfolio, the Adviser will not attempt to fully insulate the Fund's investment returns from the influence of currency fluctuations on portfolio investments denominated in foreign currencies. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy (as described below) and are calculated at market value.<br/><br/> The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in emerging market fixed-income investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to invest, under normal circumstances, less than 80% of its net assets in emerging market fixed-income investments. The Fund is a non-diversified portfolio of Federated World Investment Series, Inc.<br/><br/><b> PORTFOLIO TURNOVER</b><br/><br/> The Fund actively trades its portfolio securities in an attempt to achieve its investment objective. Active trading will 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 will likely 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 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:<ul type="square"><li><b>Issuer Credit Risk. </b> It is possible that interest or principal on securities will not be paid when due. Such non-payment or default may reduce the value of the Fund's portfolio holdings, its share price and its performance.</li></ul><ul type="square"><li> <b>Counterparty Credit Risk. </b> Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.</li></ul><ul type="square"><li> <b>Risk Associated with Non-Investment Grade Securities.</b> Securities rated below investment grade generally are subject to greater interest rate, credit and liquidity risks than investment-grade securities. These securities are considered speculative with respect to the issuer's ability to pay interest and repay principal.</li></ul><ul type="square"><li> <b>Risk Related to the Economy.</b> The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Economic, political and financial conditions, or industry or economic trends and developments, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects. Among other investments, lower-grade bonds may be particularly sensitive to changes in the economy. </li></ul><ul type="square"><li> <b>Risk of Investing in Emerging Market Countries.</b> Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.</li></ul><ul type="square"><li> <b>Greater China Risk.</b> Although larger and/or more established than many emerging markets, the markets of the Greater China region function in many ways as emerging markets, and carry the high levels of risks associated with emerging markets. Direct investments in, or indirect exposure to, the Greater China region may be subject to the risks associated with trading on less-developed trading markets, in addition to acute political risks such as possible negative repercussions resulting from China's relationship with Taiwan or Hong Kong, restrictions on monetary repatriation, or other adverse government actions. As export-driven economies, the economies of countries in the Greater China region are affected by developments in the economies of their principal trading partners.</li></ul><ul type="square"><li> <b>Liquidity Risk.</b> Trading opportunities are more limited for fixed-income securities that have not received any credit ratings, have received ratings below investment-grade or are not widely held or are issued by companies located in emerging markets. Over-the-counter (OTC) derivative contracts generally carry greater liquidity risk than exchange-traded contracts. This risk may be increased in times of financial stress, if the trading market for OTC derivative contracts becomes restricted.</li></ul><ul type="square"><li> <b>Risk of Foreign Investing.</b> Because the Fund invests in securities issued by foreign companies and national governments, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</li></ul><ul type="square"><li> <b>Currency Risk.</b> Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience increased volatility with respect to the value of its Shares and its returns as a result of its exposure to foreign currencies through direct holding of such currencies or holding of non-U.S. dollar denominated securities.</li></ul><ul type="square"><li> <b>Eurozone Related Risk.</b> A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivatives contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.</li></ul><ul type="square"><li> <b>Interest Rate Risk. </b> Prices of fixed-income securities generally fall when interest rates rise.&nbsp; The longer the duration of a fixed-income security, the more susceptible it is to interest rate risk.&nbsp; Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates.</li></ul><ul type="square"><li> <b>Risk of Loss after Redemption.</b> The investment companies in which the Fund invests may cause the Fund to experience delays from the time it requests a redemption to the time that such redemption is processed.</li></ul><ul type="square"><li> <b>Credit Enhancement Risk.</b> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters or credit or bond insurance). Credit enhancement is designed to help assure timely pay of the security; it does not protect the Fund against losses caused by declines in a security's value due to changes in market conditions. </li></ul><ul type="square"><li> <b>Leverage Risk.</b> Leverage risk is created when an investment which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain.</li></ul><ul type="square"><li> <b>Risk of Investing in Derivative Contracts and Hybrid Instruments.</b> Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as interest rate, credit, currency, liquidity and leverage risks.</li></ul><ul type="square"><li> <b>Custodial Services and Related Investment Costs.</b> Custodial services and other costs relating to investment in international securities markets generally are more expensive settlement and clearance procedures than in the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.</li></ul><ul type="square"><li> <b>Risk of Non-Diversified Fund.</b> The Fund is non-diversified. Compared to diversified mutual funds, it may invest a higher percentage of its assets among fewer issuers of portfolio securities. This increases the Fund's risk by magnifying the impact (positively or negatively) that any one issuer has on the Fund's Share price and performance. In certain situations, being non-diversified may reduce the Fund's credit risk by enabling it to avoid investing in certain countries, regions or sectors that exhibit above average credit risk. </li></ul><ul type="square"><li> <b>Stock Market Risk.</b> The value of equity securities in a Fund's portfolio will fluctuate and, as a result, a Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market. Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market. Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance.</li></ul><ul type="square"><li> <b>Exchange-Traded Funds Risk.</b> An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded) that has the same investment objectives, strategies and policies. The price of an ETF can fluctuate up or down, and the Fund could lose money investing in an ETF if the prices of the securities owned by the ETF go down.</li></ul><ul type="square"><li> <b>Technology Risk.</b> The Adviser uses various technologies in managing the Fund, consistent with its investment objective and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</li></ul> 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. <b>Performance: Bar Chart and Table<br/><br/> Risk/Return Bar Chart and Table</b> The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. Federated Emerging Market Debt Fund - A Class The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.<br/><br/>Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 18.68% (quarter ended June 30, 2009). Its lowest quarterly return was (8.57)% (quarter ended September 30, 2015). <b>Average Annual Total Return Table</b> The Fund's IS class commenced operations on March 30, 2012. For the period prior to commencement of operations of IS class, the performance information shown is for the Fund's A class. The performance of A class has not been adjusted to reflect the expenses of IS class since IS class has a lower expense ratio than the expense ratio of A class. The performance of A class has been adjusted to remove any voluntary waiver of Fund expenses related to A class that may have occurred during the period prior to commencement of operations of IS class. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for C and IS classes will differ from those shown below for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.<br/><br/> (For the Period Ended December 31, 2018) You may qualify for certain sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in A class of Federated funds. If you purchase the Fund's IS 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. up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. February 1, 2020 All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. <ul type="square"><li> <b>Risk of Non-Diversified Fund.</b> The Fund is non-diversified. Compared to diversified mutual funds, it may invest a higher percentage of its assets among fewer issuers of portfolio securities. This increases the Fund's risk by magnifying the impact (positively or negatively) that any one issuer has on the Fund's Share price and performance. In certain situations, being non-diversified may reduce the Fund's credit risk by enabling it to avoid investing in certain countries, regions or sectors that exhibit above average credit risk. </li></ul> 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. The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. FederatedInvestors.com 1-800-341-7400 The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. highest quarterly return 2009-06-30 lowest quarterly return 2015-09-30 After-tax returns are shown only for A class, and after-tax returns for C and IS classes will differ from those shown below for A class. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan. 0.045 0 0 0 0.01 0 0 0 0 0 0 0 0 0 0 0.0085 0.0085 0.0085 0 0.0075 0 0.0119 0.0117 0.0093 0.0204 0.0277 0.0178 -0.0083 -0.0081 -0.0082 0.0121 0.0196 0.0096 648 1061 1499 2712 380 859 1464 3099 181 560 964 2095 648 1061 1499 2712 280 859 1464 3099 181 560 964 2095 0.4625 0.154 0.0643 0.1914 -0.0832 -0.0015 -0.0333 0.0698 0.1036 -0.0517 -0.0946 0.0062 0.0731 -0.1088 -0.0115 0.0529 -0.056 -0.0024 0.0504 -0.0694 0.0081 0.0699 -0.0504 0.0181 0.0793 -0.0461 0.0418 0.0779 -0.0493 0.027 0.0781 -0.0417 0.0242 0.0652 1.4 100000 0.1868 -0.0857 <b>Federated International&nbsp;Leaders Fund (the "Fund")</b> <b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> The Fund's investment objective is to provide long-term capital growth. <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 B Shares (B), Class C Shares (C), Class R Shares (R), Institutional Shares (IS) and Class R6 Shares (R6) of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes (e.g., A class) 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 15 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS and 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. <b>Shareholder Fees (fees paid directly from your investment)</b> <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.<br/><br/> 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 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> <b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE<br/><br/> What are the Fund's Main Investment Strategies?</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 37% of the average value of its portfolio. The Fund pursues its investment objective of long-term capital growth by investing primarily in a portfolio of equity securities issued by foreign (non U.S.) companies that the Fund's investment adviser, Federated Global Investment Management Corp. (the "Adviser"), has deemed as the best opportunities across its investable universe relative to the company's competitive position or its growth prospects. The Adviser expects that, normally, the Fund will be invested primarily in foreign stocks in developed markets. The Fund is permitted, however, to invest in companies from both developed (including the United States) and emerging market countries. The strategy gives broad exposure to industry leading companies in developed markets, many of which have a strong or growing presence in the emerging markets. The Fund may invest in exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid instruments (such as notes linked to underlying securities, indices or commodities) in order to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s) or to obtain premiums from the sale of derivative contracts. The Fund may also hedge its currency risk by using derivatives such as futures or forward contracts. <b>What are the Main 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:<ul type="square"><li><b>Stock Market Risk. </b> The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market.&nbsp; Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market.&nbsp; Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance. </li></ul><ul type="square"><li><b>Risk of Foreign Investing.</b> The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.</li></ul><ul type="square"><li><b>Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers. </b> Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</li></ul><ul type="square"><li><b>Currency Risk.</b> Because the exchange rates for currencies fluctuate daily, prices of the foreign securities in which the Fund invests are more volatile than prices of securities traded exclusively in the United States.</li></ul><ul type="square"><li><b>Eurozone Related Risk.</b> A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.</li></ul><ul type="square"><li><b>Sector Risk.</b> Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.</li></ul><ul type="square"><li><b>Investment Style Risk.</b> The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.</li></ul><ul type="square"><li><b>Risk of Investing in Emerging Market Countries.</b> Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.</li></ul><ul type="square"><li><b>Custodial Services and Related Investment Costs.</b> Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.</li></ul><ul type="square"><li><b>Exchange-Traded Funds Risk.</b> An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.</li></ul><ul type="square"><li><b>Risk of Investing in Derivative Contracts and Hybrid Instruments.</b> Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.</li></ul><ul type="square"><li><b>Liquidity Risk.</b> Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to. </li></ul><ul type="square"><li><b>Leverage Risk.</b> Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.</li></ul><ul type="square"><li><b>Counterparty Credit Risk.</b> Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.</li></ul><ul type="square"><li><b>Risk Related to the Economy.&nbsp;</b> The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.&nbsp; Economic, political and financial conditions, or industry or economic trends and developments may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.</li></ul><ul type="square"><li><b>Technology Risk. </b> The Adviser uses various technologies in managing the Fund, consistent with its investment objective and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</li></ul>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. <b>Performance: Bar Chart and Table <br/><br/>Risk/Return Bar Chart</b> The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. Federated International Leaders Fund - A Class The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. <br/><br/>Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 33.12% (quarter ended June 30, 2009). Its lowest quarterly return was (25.69)% (quarter ended September 30, 2011). <b>Average Annual Total Return Table</b> The Fund's IS class commenced operations on June 21, 2010. The Fund's R class commenced operations on June 24, 2013. The Fund's R6 class commenced operations on August 5, 2013. For the period prior to the commencement of operations of the IS class, R class and R6 class the performance information shown is for the A class, respectively. The performance of the A class has not been adjusted to reflect the expenses applicable to the IS class and R6 class, respectively, since IS class and R6 class have a lower expense ratio than the expense ratio of A class. The performance of A class has been adjusted to reflect the absence of sales charges and adjusted to remove any voluntary waiver of Fund expenses related to A class that may have occurred during the period prior to commencement of operations of R class, IS class and R6 class. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for B, C, R, IS and R6 classes will differ from those shown below for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.<br/><br/>(For the Period Ended December 31, 2018) You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes (e.g., A class) of Federated funds. If you purchase the Fund's IS and 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. February 1, 2020 up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. 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. The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. FederatedInvestors.com 1-800-341-7400 The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. 2009-06-30 lowest quarterly return 2011-09-30 highest quarterly return After-tax returns are shown only for A class, and after-tax returns for B, C, R, IS and R6 classes will differ from those shown below for A class. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan. 0.055 0 0 0 0 0 0 0.055 0.01 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0085 0.0085 0.0085 0.0085 0.0085 0.0085 0 0.0075 0.0075 0.005 0 0 0.0051 0.0054 0.0052 0.0047 0.0022 0.0015 0.0002 0.0002 0.0002 0.0002 0.0002 0.0002 0.0138 0.0216 0.0214 0.0184 0.0109 0.0102 -0.0014 -0.0006 -0.0005 -0.0041 -0.0011 -0.0009 0.0124 0.021 0.0209 0.0143 0.0098 0.0093 683 963 1264 2116 769 1076 1359 2295 317 670 1149 2.472 187 579 996 2159 111 347 601 1329 104 325 563 1248 683 963 1264 2116 219 676 1159 2295 217 670 1149 2.472 187 579 996 2159 111 347 601 1329 104 325 563 1248 0.4958 0.1859 -0.1853 0.3009 0.2715 -0.0445 -0.022 -0.0293 0.2798 -0.2085 -0.2521 -0.0278 0.0757 -0.2605 -0.0313 0.0739 -0.1493 -0.0208 0.0626 -0.2567 -0.0279 0.0754 -0.222 -0.0241 0.0737 -0.2101 -0.0186 0.0804 -0.2066 -0.0143 0.0842 -0.2058 -0.0137 0.0837 -0.1379 0.0053 0.0632 -0.1459 0.001 0.0589 0.37 50000 0.3312 -0.2569 <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAnnualFundOperatingExpenses000023 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAnnualTotalReturnsBarChart000026 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleExpenseExampleNoRedemptionTransposed000025 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleExpenseExampleTransposed000024 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAverageAnnualTotalReturnsTransposed000027 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleShareholderFees000022 column period compact * ~</div> <b>Federated International&nbsp;Leaders Fund (the "Fund")</b> <b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> The Fund's investment objective is to provide long-term capital growth. <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 T Shares (T) of the Fund. <b>Shareholder Fees (fees paid directly from your investment)</b> <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.<br/><br/> 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 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> <b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE<br/><br/>What are the Fund's Main Investment Strategies?</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 37% of the average value of its portfolio. The Fund pursues its investment objective of long-term capital growth by investing primarily in a portfolio of equity securities issued by foreign (non U.S.) companies that the Fund's investment adviser, Federated Global Investment Management Corp. (the "Adviser"), has deemed as the best opportunities across its investable universe relative to the company's competitive position or its growth prospects. The Adviser expects that, normally, the Fund will be invested primarily in foreign stocks in developed markets. The Fund is permitted, however, to invest in companies from both developed (including the United States) and emerging market countries. The strategy gives broad exposure to industry leading companies in developed markets, many of which have a strong or growing presence in the emerging markets. The Fund may invest in exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid instruments (such as notes linked to underlying securities, indices or commodities) in order to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s) or to obtain premiums from the sale of derivative contracts. The Fund may also hedge its currency risk by using derivatives such as futures or forward contracts. <b>What are the Main 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:<ul type="square"><li><b>Stock Market Risk. </b> The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market.&nbsp; Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market.&nbsp; Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance.&nbsp; </li></ul><ul type="square"><li> <b>Risk of Foreign Investing.</b> The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.</li></ul><ul type="square"><li> <b>Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers. </b> Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</li></ul><ul type="square"><li> <b>Currency Risk.</b> Because the exchange rates for currencies fluctuate daily, prices of the foreign securities in which the Fund invests are more volatile than prices of securities traded exclusively in the United States.</li></ul><ul type="square"><li> <b>Eurozone Related Risk.</b> A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.</li></ul><ul type="square"><li> <b>Sector Risk.</b> Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.</li></ul><ul type="square"><li> <b>Investment Style Risk.</b> The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.</li></ul><ul type="square"><li> <b>Risk of Investing in Emerging Market Countries.</b> Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.</li></ul><ul type="square"><li> <b>Custodial Services and Related Investment Costs.</b> Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.</li></ul><ul type="square"><li> <b>Exchange-Traded Funds Risk.</b> An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.</li></ul><ul type="square"><li> <b>Risk of Investing in Derivative Contracts and Hybrid Instruments.</b> Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.</li></ul><ul type="square"><li> <b>Liquidity Risk.</b> Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to. </li></ul><ul type="square"><li> <b>Leverage Risk.</b> Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.</li></ul><ul type="square"><li> <b>Counterparty Credit Risk.</b> Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.</li></ul><ul type="square"><li> <b>Risk Related to the Economy.&nbsp; </b> The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.&nbsp; Economic, political and financial conditions, or industry or economic trends and developments may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.</li></ul><ul type="square"><li> <b>Technology Risk. </b> The Adviser uses various technologies in managing the Fund, consistent with its investment objective and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</li></ul> 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. <b>Performance: Bar Chart and Table<br/><br/> Risk/Return Bar Chart</b> The bar chart and performance table below reflect historical performance data for the Fund. The Fund's Class T Shares ("T class") has not yet commenced operations. The Fund currently offers six other classes of shares: Class A Shares ("A class"), Class B Shares, Class C Shares, Class R Shares, Institutional Shares and Class R6 Shares. <br/><br/> The T class performance information shown below is for the Fund's A class and has not been adjusted since the T class is expected to have the same net expense ratio as the A class. <br/><br/> The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. The Average Annual Total Return Table shows returns averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. Federated International Leaders Fund - T Class The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.<br/><br/>Within the periods shown in the bar chart, the Fund's T class highest quarterly return was 33.12% (quarter ended June 30, 2009). Its lowest quarterly return was (25.69)% (quarter ended September 30, 2011). <b>Average Annual Total Return Table</b> The Fund's T class has not yet commenced operations. The T class performance information shown below is for the Fund's A class as described above. <br/><br/> In addition to Return Before Taxes, Returns After Taxes is shown for the Fund's T class to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plans.<br/><br/> (For the Period Ended December 31, 2018) Because the Class T Shares have not yet commenced operations, "Other Expenses" are based on estimated amounts for the current fiscal year. up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. February 1, 2020 All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. 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. The bar chart and performance table below reflect historical performance data for the Fund. <br/><br/>The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. FederatedInvestors.com 1-800-341-7400 The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. 2009-06-30 lowest quarterly return 2011-09-30 highest quarterly return After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plans. 0.025 0 0 0 0 0.0085 0 0.0051 0.0002 0.0138 -0.0014 0.0124 387 676 986 1866 0.4958 0.1859 -0.1853 0.3009 0.2715 -0.0445 -0.022 -0.0293 0.2798 -0.2058 -0.2521 -0.0278 0.0757 -0.2605 -0.0313 0.0739 -0.1493 -0.0208 0.0626 -0.1379 0.0053 0.0632 -0.1459 0.001 0.0589 0.37 0.3312 -0.2569 <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAnnualFundOperatingExpenses000033 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAnnualTotalReturnsBarChart000036 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAverageAnnualTotalReturnsTransposed000037 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleShareholderFees000032 column period compact * ~</div> <b>Federated International Small-Mid Company Fund (the "Fund")</b> <b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> The Fund's investment objective is to provide long-term growth of capital. <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 Institutional Shares (IS) of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes (e.g., A class) 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 15 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS 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.<br/><br/> 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: <b>Portfolio Turnover</b> <b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE<br/><br/>What are the Fund's Main Investment Strategies?</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 28% of the average value of its portfolio. The Fund pursues its investment objective of long-term growth of capital by investing at least 80% of its net assets in equity securities issued by non-U.S. small- or mid-capitalization companies. The Fund's investment adviser, Federated Global Investment Management Corp., ("the Adviser") seeks to invest in companies whose stock the Adviser perceives as undervalued relative to their assets or attractively priced relative to their growth prospects. The Fund may invest in companies from both developed and emerging market countries. The Fund may hedge its currency risk by using derivatives such as futures or forward contracts. The Fund may invest in depositary receipts, real estate investment trusts, exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid investments (such as notes linked to underlying securities or indices) in order to implement its investment strategy. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s), to obtain premiums from the sale of derivative contracts, or to realize gains from trading a derivative contract. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy, as described below, and are calculated at market value.<br/><br/> The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in small- or mid-capitalization companies. 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 small- or mid-capitalization companies. For purposes of this limitation, small- or mid-capitalization companies will normally be defined as companies with market capitalizations similar to the constituents of the Fund's benchmark, the MSCI ACWI ex USA SMID Cap Index. As of November 30, 2018, the capitalization of companies included in the MSCI ACWI ex USA SMID Cap Index ranged from approximately $7.7 million to $40.7 billion. Such definition will be applied at the time of investment and the Adviser will not be required to sell a stock because a company's market capitalization has grown larger than the range of small- or mid-capitalization stocks in the MSCI ACWI ex USA SMID Cap Index. <b>What are the Main 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:<ul type="square"><li><b>Stock Market Risk.</b> The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market. Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market. Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance. </li></ul><ul type="square"><li> <b>Real Estate Investment Trust Risk.</b> Real estate investment trusts (REITs) carry risks associated with owning real estate, including the potential for a decline in value due to economic or market conditions.</li></ul><ul type="square"><li> <b>Risk of Foreign Investing.</b> The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.</li></ul><ul type="square"><li> <b>Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers.</b> Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</li></ul><ul type="square"><li> <b> Small-Cap Company Risk.</b> The Fund may invest in small capitalization (or "small-cap") companies. Small-cap companies may have less liquid stock, a more volatile share price, unproven track records, a limited product or service base, and limited access to capital. The above factors could make small-cap companies more likely to fail than larger companies, and increase the volatility of the Fund's portfolio, performance and Share price.</li></ul><ul type="square"><li> <b>Mid-Cap Company Risk.</b> The Fund may invest in mid-capitalization (or "mid-cap") companies. Mid-cap companies often have narrower markets, limited managerial and financial resources, more volatile performance and greater risk of failure, compared to larger, more established companies. These factors could increase the volatility of the Fund's portfolio, performance and Share price.</li></ul><ul type="square"><li> <b>Currency Risk.</b> Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience increase volatility with respect to the value of its Shares and its returns as a result of its exposure to foreign currencies through direct holding of such currencies or holding of non-U.S. dollar denominated securities.</li></ul><ul type="square"><li> <b>Eurozone Related Risk.</b> A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.</li></ul><ul type="square"><li> <b>Risk of Investing in Emerging Market Countries.</b> Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.</li></ul><ul type="square"><li> <b>Greater China Risk.</b> Although larger and/or more established than many emerging markets, the markets of the Greater China region function in many ways as emerging markets, and carry the high levels of risks associated with emerging markets. Direct investments in, or indirect exposure to, the Greater China region may be subject to the risks associated with trading on less-developed trading markets, in addition to acute political risks such as possible negative repercussions resulting from China's relationship with Taiwan or Hong Kong, restrictions on monetary repatriation, or other adverse government actions. As export-driven economies, the economies of countries in the Greater China region are affected by developments in the economies of their principal trading partners.</li></ul><ul type="square"><li> <b>Sector Risk.</b> Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.</li></ul><ul type="square"><li> <b>Investment Style Risk.</b> The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.</li></ul><ul type="square"><li> <b>Liquidity Risk.</b> Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to. </li></ul><ul type="square"><li> <b>Custodial Services and Related Investment Costs.</b> Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.</li></ul><ul type="square"><li> <b>Exchange-Traded Funds Risk.</b> An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.</li></ul><ul type="square"><li> <b>Risk of Investing in Derivative Contracts and Hybrid Instruments.</b> Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.</li></ul><ul type="square"><li> <b>Counterparty Credit Risk.</b> Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.</li></ul><ul type="square"><li> <b>Leverage Risk.</b> Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.</li></ul><ul type="square"><li> <b>Risk Related to the Economy.</b> &nbsp;The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.&nbsp; Economic, political and financial conditions, or industry or economic trends and developments, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.</li></ul><ul type="square"><li> <b>Technology Risk.</b> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</li></ul> 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. <b>Performance: Bar Chart and Table<br/><br/> Risk/Return Bar Chart </b> The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. Federated International Small-Mid Company Fund - A Class The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.<br/><br/>Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 28.60% (quarter ended June 30, 2009). Its lowest quarterly return was (25.82)% (quarter ended September 30, 2011). <b>Average Annual Total Return Table</b> In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for C and IS classes will differ from those shown for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.<br/><br/> (For the Period Ended December 31, 2018) You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes (e.g., A class) of Federated funds. If you purchase the Fund's IS 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. All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. 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. The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. FederatedInvestors.com 1-800-341-7400 The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. 2009-06-30 lowest quarterly return 2011-09-30 highest quarterly return After-tax returns are shown only for A class, and after-tax returns for C and IS classes will differ from those shown for A class. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan. 0.055 0 0 0 0.01 0 0 0 0 -0.02 -0.02 -0.02 0 0 0 0.0125 0.0125 0.0125 0.0025 0.0075 0 0.0051 0.0075 0.0051 0.0201 0.0275 0.0176 -0.0014 -0.0008 -0.0009 0.0187 0.0267 0.0167 743 1146 1573 2759 378 853 1454 3080 179 554 954 2073 743 1146 1573 2759 278 853 1454 3080 179 554 954 2073 0.4707 0.2144 -0.1753 0.2201 0.2808 -0.0934 0.0965 -0.0831 0.347 -0.1885 -0.2331 -0.012 0.0804 -0.2592 -0.0318 0.0665 -0.122 -0.0091 0.0659 -0.202 -0.0087 0.0779 -0.187 0.0013 0.0887 -0.1706 0.0175 0.0884 0.28 50000 0.286 -0.2582 <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAnnualFundOperatingExpenses000043 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAnnualTotalReturnsBarChart000046 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleExpenseExampleNoRedemptionTransposed000045 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleExpenseExampleTransposed000044 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAverageAnnualTotalReturnsTransposed000047 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleShareholderFees000042 column period compact * ~</div> <b>Federated International Small-Mid Company Fund (the "Fund")</b> <b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b> The Fund's investment objective is to provide long-term growth of capital. <b>RISK/RETURN SUMMARY: FEES AND EXPENSES</b> This table describes the fees and expenses that you may pay if you buy and hold the Fund's Class T Shares (T). 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.<br/><br/> 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> <b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE<br/><br/> What are the Fund's Main Investment Strategies?</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 28% of the average value of its portfolio. The Fund pursues its investment objective of long-term growth of capital by investing at least 80% of its net assets in equity securities issued by non-U.S. small- or mid-capitalization companies. The Fund's investment adviser, Federated Global Investment Management Corp., ("the Adviser") seeks to invest in companies whose stock the Adviser perceives as undervalued relative to their assets or attractively priced relative to their growth prospects. The Fund may invest in companies from both developed and emerging market countries. The Fund may hedge its currency risk by using derivatives such as futures or forward contracts. The Fund may invest in depositary receipts, real estate investment trusts, exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid investments (such as notes linked to underlying securities or indices) in order to implement its investment strategy. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s), to obtain premiums from the sale of derivative contracts, or to realize gains from trading a derivative contract. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy, as described below, and are calculated at market value.<br/><br/> The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in small- or mid-capitalization companies. 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 small- or mid-capitalization companies. For purposes of this limitation, small- or mid-capitalization companies will normally be defined as companies with market capitalizations similar to the constituents of the Fund's benchmark, the MSCI ACWI ex USA SMID Cap Index. As of November 30, 2018, the capitalization of companies included in the MSCI ACWI ex USA SMID Cap Index ranged from approximately $7.7 million to $40.7 billion. Such definition will be applied at the time of investment and the Adviser will not be required to sell a stock because a company's market capitalization has grown larger than the range of small- or mid-capitalization stocks in the MSCI ACWI ex USA SMID Cap Index. <b>What are the Main 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:<ul type="square"><li><b>Stock Market Risk.</b> The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market. Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market. Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance. </li></ul><ul type="square"><li><b>Real Estate Investment Trust Risk.</b> Real estate investment trusts (REITs) carry risks associated with owning real estate, including the potential for a decline in value due to economic or market conditions.</li></ul><ul type="square"><li><b>Risk of Foreign Investing.</b> The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.</li></ul><ul type="square"><li><b>Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers.</b> Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</li></ul><ul type="square"><li><b> Small-Cap Company Risk.</b> The Fund may invest in small capitalization (or "small-cap") companies. Small-cap companies may have less liquid stock, a more volatile share price, unproven track records, a limited product or service base, and limited access to capital. The above factors could make small-cap companies more likely to fail than larger companies, and increase the volatility of the Fund's portfolio, performance and Share price.</li></ul><ul type="square"><li><b>Mid-Cap Company Risk.</b> The Fund may invest in mid-capitalization (or "mid-cap") companies. Mid-cap companies often have narrower markets, limited managerial and financial resources, more volatile performance and greater risk of failure, compared to larger, more established companies. These factors could increase the volatility of the Fund's portfolio, performance and Share price.</li></ul><ul type="square"><li><b>Currency Risk.</b> Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience increase volatility with respect to the value of its Shares and its returns as a result of its exposure to foreign currencies through direct holding of such currencies or holding of non-U.S. dollar denominated securities.</li></ul><ul type="square"><li><b>Eurozone Related Risk.</b> A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.</li></ul><ul type="square"><li><b>Risk of Investing in Emerging Market Countries.</b> Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.</li></ul><ul type="square"><li><b>Greater China Risk.</b> Although larger and/or more established than many emerging markets, the markets of the Greater China region function in many ways as emerging markets, and carry the high levels of risks associated with emerging markets. Direct investments in, or indirect exposure to, the Greater China region may be subject to the risks associated with trading on less-developed trading markets, in addition to acute political risks such as possible negative repercussions resulting from China's relationship with Taiwan or Hong Kong, restrictions on monetary repatriation, or other adverse government actions. As export-driven economies, the economies of countries in the Greater China region are affected by developments in the economies of their principal trading partners.</li></ul><ul type="square"><li><b>Sector Risk.</b> Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.</li></ul><ul type="square"><li><b>Investment Style Risk.</b> The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.</li></ul><ul type="square"><li><b>Liquidity Risk.</b> Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to. </li></ul><ul type="square"><li><b>Custodial Services and Related Investment Costs.</b> Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.</li></ul><ul type="square"><li><b>Exchange-Traded Funds Risk.</b> An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.</li></ul><ul type="square"><li><b>Risk of Investing in Derivative Contracts and Hybrid Instruments.</b> Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.</li></ul><ul type="square"><li><b>Counterparty Credit Risk.</b> Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.</li></ul><ul type="square"><li><b>Leverage Risk.</b> Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.</li></ul><ul type="square"><li><b>Risk Related to the Economy.</b> &nbsp;The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.&nbsp; Economic, political and financial conditions, or industry or economic trends and developments, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.</li></ul><ul type="square"><li><b>Technology Risk.</b> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</li></ul>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. <b>Performance: Bar Chart and Table <br/><br/>Risk/Return Bar Chart </b> The bar chart and performance table below reflect historical performance data for the Fund. The Fund's Class T Shares ("T class") has not yet commenced operations. The Fund currently offers four other classes of shares: Class A Shares ("A class"), Class B Shares, Class C Shares and Institutional Shares. The T class performance information shown below is for the Fund's A class and has not been adjusted since the T class is expected to have the same net expense ratio as the A class. <br/><br/> The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. Federated International Small-Mid Company Fund - T Class The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.<br/><br/>Within the periods shown in the bar chart, the Fund's T class highest quarterly return was 28.60% (quarter ended June 30, 2009). Its lowest quarterly return was (25.82)% (quarter ended September 30, 2011). <b>Average Annual Total Return Table</b> The Fund's T class has not yet commenced operations. The T class performance information shown below is for the Fund's A class as described above. <br/><br/> In addition to Return Before Taxes, Return After Taxes is shown for the Fund's T class to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan. <br/><br/>(For the Period Ended December 31, 2018) Because the Class T Shares have not yet commenced operations, "Other Expenses" are based on estimated amounts for the current fiscal year. up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. February 1, 2020 All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. 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. The bar chart and performance table below reflect historical performance data for the Fund.<br/><br/>The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. FederatedInvestors.com 1-800-341-7400 The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. 2009-06-30 lowest quarterly return 2011-09-30 highest quarterly return After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan. 0.025 0 0 -0.02 0 0.0125 0 0.0076 0.0201 -0.0014 0.0187 449 865 1306 2529 0.4707 0.2144 -0.1753 0.2201 0.2808 -0.0934 0.0965 -0.0831 0.347 -0.1885 -0.2331 -0.012 0.0804 -0.2592 -0.0318 0.0665 -0.122 -0.0091 0.0659 -0.1706 0.0175 0.0884 0.28 0.286 -0.2582 <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAnnualFundOperatingExpenses000053 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAnnualTotalReturnsBarChart000056 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAverageAnnualTotalReturnsTransposed000057 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleShareholderFees000052 column period compact * ~</div> N-1A <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleShareholderFees000012 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleExpenseExampleNoRedemptionTransposed000015 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleExpenseExample000054 column period compact * ~</div> <div style="display:none">~ http://www.FederatedInvestors.com/role/ScheduleExpenseExample000034 column period compact * ~</div> February 1, 2020 up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, dividends and other expenses related to short sales, interest expense, extraordinary expenses, and proxy-related expenses paid by the Fund, if any) paid by the Fund's A, C and IS classes (after the voluntary waivers and/or reimbursements) will not exceed 1.18%, 1.93% and 0.93% (the "Fee Limit"), respectively, up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund's Board of Directors. The Fund has adopted a Distribution (12b-1) Plan for its Class A shares pursuant to which the A class of the Fund may incur or charge a Distribution (12b-1) fee of up to a maximum amount of 0.05%. No such fee is currently incurred or charged by the A class of the Fund. The A class of the Fund will not incur or charge such a Distribution (12b-1) fee until such time as approved by the Fund’s Board of Directors. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Effective February 1, 2019, total annual fund operating expenses (excluding Acquired Fund Fees and Expenses, interest expense, tax reclaim recovery expenses, proxy-related expenses and extraordinary expenses, if any) paid by the Fund’s A, B, C, R, IS and R6 classes (after the voluntary waivers and/or reimbursements) will not exceed 1.22%, 2.08%, 2.07%, 1.41%, 0.96% and 0.91% (the “Fee Limit”), respectively, up to but not including the later of (the “Termination Date”): (a) February 1, 2020; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund’s Board of Directors. The JPMorgan Emerging Markets Bond Index Global tracks total returns for traded external debt instruments in the emerging markets. The Morgan Stanley Capital International Europe, Australasia and Far East Index is an equity index which captures large- and mid-cap representation across developed market countries around the world, excluding the U.S. and Canada. The index covers approximately 85% of the free float-adjusted market capitalization in each country. Morningstar figures represent the average of the total returns reported by all the mutual funds designated by Morningstar as falling into the respective category indicated. They do not reflect sales charges. The Blended Index is comprised of an equal weighting of JPMorgan Emerging Markets Bond Index Global, JPMorgan Corporate Emerging Market Bond and JPMorgan Government Bond Index-Emerging Markets-Unhedged. The JPMorgan Emerging Markets Bond Index Global tracks total returns for traded external debt instruments in the emerging markets. The JPMorgan Corporate Emerging Market Bond Index is a global, corporate emerging markets benchmark that tracks U.S.-denominated corporate bonds issued by emerging markets entities. The JPMorgan Government Bond Index-Emerging Markets-Unhedged tracks local currency government bonds issued by emerging markets. Because the Class T Shares have not yet commenced operations, “Other Expenses” are based on estimated amounts for the current fiscal year. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, tax reclaim recovery expenses, interest expense, extraordinary expenses, and proxy-related expenses paid by the Fund, if any) paid by the Fund’s T class (after the voluntary waivers and/or reimbursements) will not exceed 1.86% (the “Fee Limit”), up to but not including the later of (the “Termination Date”): (a) February 1, 2020; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund’s Board of Directors. The MSCI ACWI ex USA SMID Cap Index captures mid- and small-cap representation across developed market countries (excluding the U.S.) and emerging markets countries. The index covers approximately 28% of the free float-adjusted market capitalization in each country. Because the Class T Shares have not yet commenced operations, "Other Expenses" are based on estimated amounts for the current fiscal year. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding Acquired Fund Fees and Expenses, tax reclaim recovery expenses, proxy-related expenses, interest expense and extraordinary expenses, if any) paid by the Fund's T class (after the voluntary waivers and/or reimbursements) will not exceed 1.22% (the "Fee Limit"), up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund's Board of Directors. The Morgan Stanley Capital International Europe, Australasia and Far East Index is an equity index which captures large- and mid-cap representation across developed markets countries around the world, excluding the U.S. and Canada. The index covers approximately 85% of the free float-adjusted market capitalization in each country. The Fund may incur or charge shareholder services/account administration fees on its A class of up to a maximum amount of 0.25%. No such fees are currently incurred or charged by the A class of the Fund. The A class of the Fund will not incur or charge such fees until such time as approved by the Fund's Board of Directors (the "Directors"). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Effective February 1, 2019, total annual fund operating expenses (excluding acquired fund fees and expenses, tax reclaim recovery expenses, interest expense, extraordinary expenses, and proxy-related expenses paid by the Fund, if any) paid by the Fund's A, C and IS classes (after the voluntary waivers and/or reimbursements) will not exceed 1.86%, 2.66% and 1.66% (the "Fee Limit"), respectively, up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Directors. 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Federated Emerging Market Debt Fund
<b>Federated Emerging Market Debt Fund (the "Fund")</b>
<b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b>
The Fund's investment objective is to seek a high level of current income.
The Fund has a secondary objective of capital appreciation.
<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 Institutional Shares (IS) 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 $100,000 in A class 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 18 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS 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.
<b>Shareholder Fees (fees paid directly from your investment)</b>
Shareholder Fees - Federated Emerging Market Debt Fund
A
C
IS
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.50% none none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) none 1.00% none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) none none none
Redemption Fee (as a percentage of amount redeemed, if applicable) none none none
Exchange Fee none none none
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b>
Annual Fund Operating Expenses - Federated Emerging Market Debt Fund
A
C
IS
Management Fee 0.85% 0.85% 0.85%
Distribution (12b-1) Fee none 0.75% none
Other Expenses 1.19% 1.17% 0.93%
Total Annual Fund Operating Expenses 2.04% 2.77% 1.78%
Fee Waivers and/or Expense Reimbursements [1] (0.83%) (0.81%) (0.82%)
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements 1.21% 1.96% 0.96%
[1] The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, dividends and other expenses related to short sales, interest expense, extraordinary expenses, and proxy-related expenses paid by the Fund, if any) paid by the Fund's A, C and IS classes (after the voluntary waivers and/or reimbursements) will not exceed 1.18%, 1.93% and 0.93% (the "Fee Limit"), respectively, up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund's Board of Directors.
<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 $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. Expenses assuming no redemption are also shown. The Example also assumes that your investment has a 5% return each year and that the operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:
Expense Example - Federated Emerging Market Debt Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
A 648 1,061 1,499 2,712
C 380 859 1,464 3,099
IS 181 560 964 2,095
Expense Example, No Redemption - Federated Emerging Market Debt Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
A 648 1,061 1,499 2,712
C 280 859 1,464 3,099
IS 181 560 964 2,095
<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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 140% of the average value of its portfolio.
<b>RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE <br/><br/>What are the Fund's Main Investment Strategies?</b>
The Fund invests primarily in a portfolio of emerging market fixed-income investments. The Fund's investments may be denominated in foreign currencies or U.S. dollars, and may be of any duration. The Fund may invest in non-investment grade debt investments, which may offer higher yields than investment-grade debt investments. Investors in lower-rated foreign debt investments may receive higher yields as compensation for assuming higher credit risks. The Fund does not limit the amount it may invest in investments rated below investment-grade. The Fund may invest in derivative contracts to implement its investment strategies, as more fully described herein. When the Fund's investment adviser (the "Adviser") considers the risk/return prospects of emerging market equity securities to be attractive, the Fund may also opportunistically invest in convertible securities, equity securities or pooled vehicles such as exchange-traded funds (ETFs) or other investment companies in order to gain exposure to a specific region, country, or market sector or for other reasons consistent with its investment strategy. The Adviser actively manages the Fund's portfolio seeking total returns over longer periods in excess of the Fund's broad based securities market index, the JP Morgan Emerging Markets Bond Index Global (EMBIG) and a blended supplemental index (as described in the Average Annual Total Return Table below). The EMBIG covers emerging market countries in the following regions: Americas, Europe, Asia, Middle East and Africa. The performance of the Fund, as an actively managed portfolio, should be evaluated against the EMBIG and the blended supplemental index over longer periods of time. Volatility in emerging markets means that even small differences in time periods for comparison can have a substantial impact on returns. The Fund has no duration target or parameters with respect to its average portfolio duration. Rather, the Adviser may lengthen or shorten average portfolio duration in response to changing market conditions. These duration adjustments can be made either by buying or selling portfolio investments or through the use of derivative contracts.

The investment process entails a thorough assessment of the global macroeconomic environment and determines the most relevant investment themes that drive emerging markets. These investment themes can be either secular or cyclical in nature and are intended to define guiding principles which permeate through the various stages of the investment process from country and sector to individual corporate issuers. In selecting investments, the Adviser gives emphasis to the underlying quality of issuers domiciled in emerging market countries. The Adviser performs intensive credit analysis of both sovereign and corporate debt issues. Secondarily, the Adviser considers the extent to which market interest rates may impact the potential investment return of emerging markets debt investments.

While the Adviser may use derivatives to limit the negative effect on the Fund's investment returns inclusive of those losses that may be incurred due to anticipated changes in the relative values of selected currencies in the portfolio, the Adviser will not attempt to fully insulate the Fund's investment returns from the influence of currency fluctuations on portfolio investments denominated in foreign currencies. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy (as described below) 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 emerging market fixed-income investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to invest, under normal circumstances, less than 80% of its net assets in emerging market fixed-income investments. The Fund is a non-diversified portfolio of Federated World Investment Series, Inc.

PORTFOLIO TURNOVER

The Fund actively trades its portfolio securities in an attempt to achieve its investment objective. Active trading will 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 will likely 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 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:
  • Issuer Credit Risk. It is possible that interest or principal on securities will not be paid when due. Such non-payment or default may reduce the value of the Fund's portfolio holdings, its share price and its performance.
  • Counterparty Credit Risk. Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.
  • Risk Associated with Non-Investment Grade Securities. Securities rated below investment grade generally are subject to greater interest rate, credit and liquidity risks than investment-grade securities. These securities are considered speculative with respect to the issuer's ability to pay interest and repay principal.
  • Risk Related to the Economy. The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Economic, political and financial conditions, or industry or economic trends and developments, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects. Among other investments, lower-grade bonds may be particularly sensitive to changes in the economy.
  • Risk of Investing in Emerging Market Countries. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.
  • Greater China Risk. Although larger and/or more established than many emerging markets, the markets of the Greater China region function in many ways as emerging markets, and carry the high levels of risks associated with emerging markets. Direct investments in, or indirect exposure to, the Greater China region may be subject to the risks associated with trading on less-developed trading markets, in addition to acute political risks such as possible negative repercussions resulting from China's relationship with Taiwan or Hong Kong, restrictions on monetary repatriation, or other adverse government actions. As export-driven economies, the economies of countries in the Greater China region are affected by developments in the economies of their principal trading partners.
  • Liquidity Risk. Trading opportunities are more limited for fixed-income securities that have not received any credit ratings, have received ratings below investment-grade or are not widely held or are issued by companies located in emerging markets. Over-the-counter (OTC) derivative contracts generally carry greater liquidity risk than exchange-traded contracts. This risk may be increased in times of financial stress, if the trading market for OTC derivative contracts becomes restricted.
  • Risk of Foreign Investing. Because the Fund invests in securities issued by foreign companies and national governments, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.
  • Currency Risk. Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience increased volatility with respect to the value of its Shares and its returns as a result of its exposure to foreign currencies through direct holding of such currencies or holding of non-U.S. dollar denominated securities.
  • Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivatives contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.
  • Interest Rate Risk. Prices of fixed-income securities generally fall when interest rates rise.  The longer the duration of a fixed-income security, the more susceptible it is to interest rate risk.  Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates.
  • Risk of Loss after Redemption. The investment companies in which the Fund invests may cause the Fund to experience delays from the time it requests a redemption to the time that such redemption is processed.
  • Credit Enhancement Risk. The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters or credit or bond insurance). Credit enhancement is designed to help assure timely pay of the security; it does not protect the Fund against losses caused by declines in a security's value due to changes in market conditions.
  • Leverage Risk. Leverage risk is created when an investment which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as interest rate, credit, currency, liquidity and leverage risks.
  • Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive settlement and clearance procedures than in the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.
  • Risk of Non-Diversified Fund. The Fund is non-diversified. Compared to diversified mutual funds, it may invest a higher percentage of its assets among fewer issuers of portfolio securities. This increases the Fund's risk by magnifying the impact (positively or negatively) that any one issuer has on the Fund's Share price and performance. In certain situations, being non-diversified may reduce the Fund's credit risk by enabling it to avoid investing in certain countries, regions or sectors that exhibit above average credit risk.
  • Stock Market Risk. The value of equity securities in a Fund's portfolio will fluctuate and, as a result, a Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market. Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market. Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance.
  • Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded) that has the same investment objectives, strategies and policies. The price of an ETF can fluctuate up or down, and the Fund could lose money investing in an ETF if the prices of the securities owned by the ETF go down.
  • Technology Risk. The Adviser uses various technologies in managing the Fund, consistent with its investment objective and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
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.
<b>Performance: Bar Chart and Table<br/><br/> Risk/Return Bar Chart and Table</b>
The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Federated Emerging Market Debt Fund - A Class
Bar Chart
The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.

Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 18.68% (quarter ended June 30, 2009). Its lowest quarterly return was (8.57)% (quarter ended September 30, 2015).
<b>Average Annual Total Return Table</b>
The Fund's IS class commenced operations on March 30, 2012. For the period prior to commencement of operations of IS class, the performance information shown is for the Fund's A class. The performance of A class has not been adjusted to reflect the expenses of IS class since IS class has a lower expense ratio than the expense ratio of A class. The performance of A class has been adjusted to remove any voluntary waiver of Fund expenses related to A class that may have occurred during the period prior to commencement of operations of IS class. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for C and IS classes will differ from those shown below for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.

(For the Period Ended December 31, 2018)
Average Annual Total Returns - Federated Emerging Market Debt Fund
1 Year
5 Years
10 Years
A (9.46%) 0.62% 7.31%
A | Return After Taxes on Distributions (10.88%) (1.15%) 5.29%
A | Return After Taxes on Distributions and Sale of Fund Shares (5.60%) (0.24%) 5.04%
C (6.94%) 0.81% 6.99%
IS (5.04%) 1.81% 7.93%
JPMorgan Emerging Markets Bond Index Global (reflects no deduction for fees, expenses or taxes) [1] (4.61%) 4.18% 7.79%
Morningstar Emerging Market Bond Funds Average [2] (4.93%) 2.70% 7.81%
Blended Index (reflects no deduction for fees, expenses or taxes) [3] (4.17%) 2.42% 6.52%
[1] The JPMorgan Emerging Markets Bond Index Global tracks total returns for traded external debt instruments in the emerging markets.
[2] Morningstar figures represent the average of the total returns reported by all the mutual funds designated by Morningstar as falling into the respective category indicated. They do not reflect sales charges.
[3] The Blended Index is comprised of an equal weighting of JPMorgan Emerging Markets Bond Index Global, JPMorgan Corporate Emerging Market Bond and JPMorgan Government Bond Index-Emerging Markets-Unhedged. The JPMorgan Emerging Markets Bond Index Global tracks total returns for traded external debt instruments in the emerging markets. The JPMorgan Corporate Emerging Market Bond Index is a global, corporate emerging markets benchmark that tracks U.S.-denominated corporate bonds issued by emerging markets entities. The JPMorgan Government Bond Index-Emerging Markets-Unhedged tracks local currency government bonds issued by emerging markets.

XML 12 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FEDERATED WORLD INVESTMENT SERIES INC
Prospectus Date rr_ProspectusDate Jan. 31, 2019
Federated Emerging Market Debt Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>Federated Emerging Market Debt 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 seek a high level of current income.
Objective, Secondary [Text Block] rr_ObjectiveSecondaryTextBlock The Fund has a secondary objective of capital appreciation.
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 Institutional Shares (IS) 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 $100,000 in A class 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 18 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS 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 <b>Shareholder Fees (fees paid directly from your investment)</b>
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 February 1, 2020
Fee Waiver Or Reimbursement Over Assets, Later Of Termination Or Next Effective Prospectus fwisi_FeeWaiverOrReimbursementOverAssetsLaterOfTerminationOrNextEffectiveProspectus up to but not including the later of (the "Termination Date"): (a) February 1, 2020; 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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 140% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 140.00%
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 $100,000 in A class of Federated funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
Expense Exchange Traded Fund Commissions [Text] rr_ExpenseExchangeTradedFundCommissions If you purchase the Fund's IS 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.
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:
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 invests primarily in a portfolio of emerging market fixed-income investments. The Fund's investments may be denominated in foreign currencies or U.S. dollars, and may be of any duration. The Fund may invest in non-investment grade debt investments, which may offer higher yields than investment-grade debt investments. Investors in lower-rated foreign debt investments may receive higher yields as compensation for assuming higher credit risks. The Fund does not limit the amount it may invest in investments rated below investment-grade. The Fund may invest in derivative contracts to implement its investment strategies, as more fully described herein. When the Fund's investment adviser (the "Adviser") considers the risk/return prospects of emerging market equity securities to be attractive, the Fund may also opportunistically invest in convertible securities, equity securities or pooled vehicles such as exchange-traded funds (ETFs) or other investment companies in order to gain exposure to a specific region, country, or market sector or for other reasons consistent with its investment strategy. The Adviser actively manages the Fund's portfolio seeking total returns over longer periods in excess of the Fund's broad based securities market index, the JP Morgan Emerging Markets Bond Index Global (EMBIG) and a blended supplemental index (as described in the Average Annual Total Return Table below). The EMBIG covers emerging market countries in the following regions: Americas, Europe, Asia, Middle East and Africa. The performance of the Fund, as an actively managed portfolio, should be evaluated against the EMBIG and the blended supplemental index over longer periods of time. Volatility in emerging markets means that even small differences in time periods for comparison can have a substantial impact on returns. The Fund has no duration target or parameters with respect to its average portfolio duration. Rather, the Adviser may lengthen or shorten average portfolio duration in response to changing market conditions. These duration adjustments can be made either by buying or selling portfolio investments or through the use of derivative contracts.

The investment process entails a thorough assessment of the global macroeconomic environment and determines the most relevant investment themes that drive emerging markets. These investment themes can be either secular or cyclical in nature and are intended to define guiding principles which permeate through the various stages of the investment process from country and sector to individual corporate issuers. In selecting investments, the Adviser gives emphasis to the underlying quality of issuers domiciled in emerging market countries. The Adviser performs intensive credit analysis of both sovereign and corporate debt issues. Secondarily, the Adviser considers the extent to which market interest rates may impact the potential investment return of emerging markets debt investments.

While the Adviser may use derivatives to limit the negative effect on the Fund's investment returns inclusive of those losses that may be incurred due to anticipated changes in the relative values of selected currencies in the portfolio, the Adviser will not attempt to fully insulate the Fund's investment returns from the influence of currency fluctuations on portfolio investments denominated in foreign currencies. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy (as described below) 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 emerging market fixed-income investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to invest, under normal circumstances, less than 80% of its net assets in emerging market fixed-income investments. The Fund is a non-diversified portfolio of Federated World Investment Series, Inc.

PORTFOLIO TURNOVER

The Fund actively trades its portfolio securities in an attempt to achieve its investment objective. Active trading will 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 will likely 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 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:
  • Issuer Credit Risk. It is possible that interest or principal on securities will not be paid when due. Such non-payment or default may reduce the value of the Fund's portfolio holdings, its share price and its performance.
  • Counterparty Credit Risk. Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.
  • Risk Associated with Non-Investment Grade Securities. Securities rated below investment grade generally are subject to greater interest rate, credit and liquidity risks than investment-grade securities. These securities are considered speculative with respect to the issuer's ability to pay interest and repay principal.
  • Risk Related to the Economy. The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Economic, political and financial conditions, or industry or economic trends and developments, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects. Among other investments, lower-grade bonds may be particularly sensitive to changes in the economy.
  • Risk of Investing in Emerging Market Countries. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.
  • Greater China Risk. Although larger and/or more established than many emerging markets, the markets of the Greater China region function in many ways as emerging markets, and carry the high levels of risks associated with emerging markets. Direct investments in, or indirect exposure to, the Greater China region may be subject to the risks associated with trading on less-developed trading markets, in addition to acute political risks such as possible negative repercussions resulting from China's relationship with Taiwan or Hong Kong, restrictions on monetary repatriation, or other adverse government actions. As export-driven economies, the economies of countries in the Greater China region are affected by developments in the economies of their principal trading partners.
  • Liquidity Risk. Trading opportunities are more limited for fixed-income securities that have not received any credit ratings, have received ratings below investment-grade or are not widely held or are issued by companies located in emerging markets. Over-the-counter (OTC) derivative contracts generally carry greater liquidity risk than exchange-traded contracts. This risk may be increased in times of financial stress, if the trading market for OTC derivative contracts becomes restricted.
  • Risk of Foreign Investing. Because the Fund invests in securities issued by foreign companies and national governments, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.
  • Currency Risk. Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience increased volatility with respect to the value of its Shares and its returns as a result of its exposure to foreign currencies through direct holding of such currencies or holding of non-U.S. dollar denominated securities.
  • Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivatives contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.
  • Interest Rate Risk. Prices of fixed-income securities generally fall when interest rates rise.  The longer the duration of a fixed-income security, the more susceptible it is to interest rate risk.  Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates.
  • Risk of Loss after Redemption. The investment companies in which the Fund invests may cause the Fund to experience delays from the time it requests a redemption to the time that such redemption is processed.
  • Credit Enhancement Risk. The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters or credit or bond insurance). Credit enhancement is designed to help assure timely pay of the security; it does not protect the Fund against losses caused by declines in a security's value due to changes in market conditions.
  • Leverage Risk. Leverage risk is created when an investment which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as interest rate, credit, currency, liquidity and leverage risks.
  • Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive settlement and clearance procedures than in the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.
  • Risk of Non-Diversified Fund. The Fund is non-diversified. Compared to diversified mutual funds, it may invest a higher percentage of its assets among fewer issuers of portfolio securities. This increases the Fund's risk by magnifying the impact (positively or negatively) that any one issuer has on the Fund's Share price and performance. In certain situations, being non-diversified may reduce the Fund's credit risk by enabling it to avoid investing in certain countries, regions or sectors that exhibit above average credit risk.
  • Stock Market Risk. The value of equity securities in a Fund's portfolio will fluctuate and, as a result, a Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market. Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market. Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance.
  • Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded) that has the same investment objectives, strategies and policies. The price of an ETF can fluctuate up or down, and the Fund could lose money investing in an ETF if the prices of the securities owned by the ETF go down.
  • Technology Risk. The Adviser uses various technologies in managing the Fund, consistent with its investment objective and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
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.
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 [Text] rr_RiskNotInsured 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.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus <ul type="square"><li> <b>Risk of Non-Diversified Fund.</b> The Fund is non-diversified. Compared to diversified mutual funds, it may invest a higher percentage of its assets among fewer issuers of portfolio securities. This increases the Fund's risk by magnifying the impact (positively or negatively) that any one issuer has on the Fund's Share price and performance. In certain situations, being non-diversified may reduce the Fund's credit risk by enabling it to avoid investing in certain countries, regions or sectors that exhibit above average credit risk. </li></ul>
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <b>Performance: Bar Chart and Table<br/><br/> Risk/Return Bar Chart and Table</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-341-7400
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress FederatedInvestors.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Federated Emerging Market Debt Fund - A Class
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.

Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 18.68% (quarter ended June 30, 2009). Its lowest quarterly return was (8.57)% (quarter ended September 30, 2015).
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Return Table</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for A class, and after-tax returns for C and IS classes will differ from those shown below for A class.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The Fund's IS class commenced operations on March 30, 2012. For the period prior to commencement of operations of IS class, the performance information shown is for the Fund's A class. The performance of A class has not been adjusted to reflect the expenses of IS class since IS class has a lower expense ratio than the expense ratio of A class. The performance of A class has been adjusted to remove any voluntary waiver of Fund expenses related to A class that may have occurred during the period prior to commencement of operations of IS class. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for C and IS classes will differ from those shown below for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.

(For the Period Ended December 31, 2018)
Federated Emerging Market Debt Fund | A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
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 0.85%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 1.19%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.04%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.83%) [1]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.21%
1 Year rr_ExpenseExampleYear01 $ 648
3 Years rr_ExpenseExampleYear03 1,061
5 Years rr_ExpenseExampleYear05 1,499
10 Years rr_ExpenseExampleYear10 2,712
1 Year rr_ExpenseExampleNoRedemptionYear01 648
3 Years rr_ExpenseExampleNoRedemptionYear03 1,061
5 Years rr_ExpenseExampleNoRedemptionYear05 1,499
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,712
2009 rr_AnnualReturn2009 46.25%
2010 rr_AnnualReturn2010 15.40%
2011 rr_AnnualReturn2011 6.43%
2012 rr_AnnualReturn2012 19.14%
2013 rr_AnnualReturn2013 (8.32%)
2014 rr_AnnualReturn2014 (0.15%)
2015 rr_AnnualReturn2015 (3.33%)
2016 rr_AnnualReturn2016 6.98%
2017 rr_AnnualReturn2017 10.36%
2018 rr_AnnualReturn2018 (5.17%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.68%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest quarterly return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (8.57%)
1 Year rr_AverageAnnualReturnYear01 (9.46%)
5 Years rr_AverageAnnualReturnYear05 0.62%
10 Years rr_AverageAnnualReturnYear10 7.31%
Federated Emerging Market Debt 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 0.85%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets 0.75%
Other Expenses rr_OtherExpensesOverAssets 1.17%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.77%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.81%) [1]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.96%
1 Year rr_ExpenseExampleYear01 $ 380
3 Years rr_ExpenseExampleYear03 859
5 Years rr_ExpenseExampleYear05 1,464
10 Years rr_ExpenseExampleYear10 3,099
1 Year rr_ExpenseExampleNoRedemptionYear01 280
3 Years rr_ExpenseExampleNoRedemptionYear03 859
5 Years rr_ExpenseExampleNoRedemptionYear05 1,464
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 3,099
1 Year rr_AverageAnnualReturnYear01 (6.94%)
5 Years rr_AverageAnnualReturnYear05 0.81%
10 Years rr_AverageAnnualReturnYear10 6.99%
Federated Emerging Market Debt 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 0.85%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.93%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.78%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.82%) [1]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.96%
1 Year rr_ExpenseExampleYear01 $ 181
3 Years rr_ExpenseExampleYear03 560
5 Years rr_ExpenseExampleYear05 964
10 Years rr_ExpenseExampleYear10 2,095
1 Year rr_ExpenseExampleNoRedemptionYear01 181
3 Years rr_ExpenseExampleNoRedemptionYear03 560
5 Years rr_ExpenseExampleNoRedemptionYear05 964
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,095
1 Year rr_AverageAnnualReturnYear01 (5.04%)
5 Years rr_AverageAnnualReturnYear05 1.81%
10 Years rr_AverageAnnualReturnYear10 7.93%
Federated Emerging Market Debt Fund | Return After Taxes on Distributions | A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (10.88%)
5 Years rr_AverageAnnualReturnYear05 (1.15%)
10 Years rr_AverageAnnualReturnYear10 5.29%
Federated Emerging Market Debt Fund | Return After Taxes on Distributions and Sale of Fund Shares | A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (5.60%)
5 Years rr_AverageAnnualReturnYear05 (0.24%)
10 Years rr_AverageAnnualReturnYear10 5.04%
Federated Emerging Market Debt Fund | JPMorgan Emerging Markets Bond Index Global (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (4.61%) [2]
5 Years rr_AverageAnnualReturnYear05 4.18% [2]
10 Years rr_AverageAnnualReturnYear10 7.79% [2]
Federated Emerging Market Debt Fund | Morningstar Emerging Market Bond Funds Average  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (4.93%) [3]
5 Years rr_AverageAnnualReturnYear05 2.70% [3]
10 Years rr_AverageAnnualReturnYear10 7.81% [3]
Federated Emerging Market Debt Fund | Blended Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (4.17%) [4]
5 Years rr_AverageAnnualReturnYear05 2.42% [4]
10 Years rr_AverageAnnualReturnYear10 6.52% [4]
[1] The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, dividends and other expenses related to short sales, interest expense, extraordinary expenses, and proxy-related expenses paid by the Fund, if any) paid by the Fund's A, C and IS classes (after the voluntary waivers and/or reimbursements) will not exceed 1.18%, 1.93% and 0.93% (the "Fee Limit"), respectively, up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund's Board of Directors.
[2] The JPMorgan Emerging Markets Bond Index Global tracks total returns for traded external debt instruments in the emerging markets.
[3] Morningstar figures represent the average of the total returns reported by all the mutual funds designated by Morningstar as falling into the respective category indicated. They do not reflect sales charges.
[4] The Blended Index is comprised of an equal weighting of JPMorgan Emerging Markets Bond Index Global, JPMorgan Corporate Emerging Market Bond and JPMorgan Government Bond Index-Emerging Markets-Unhedged. The JPMorgan Emerging Markets Bond Index Global tracks total returns for traded external debt instruments in the emerging markets. The JPMorgan Corporate Emerging Market Bond Index is a global, corporate emerging markets benchmark that tracks U.S.-denominated corporate bonds issued by emerging markets entities. The JPMorgan Government Bond Index-Emerging Markets-Unhedged tracks local currency government bonds issued by emerging markets.
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Class A B C R IS and R6 Shares | Federated International Leaders Fund
<b>Federated International Leaders Fund (the "Fund")</b>
<b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b>
The Fund's investment objective is to provide long-term capital growth.
<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 B Shares (B), Class C Shares (C), Class R Shares (R), Institutional Shares (IS) and Class R6 Shares (R6) of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes (e.g., A class) 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 15 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS and 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.
<b>Shareholder Fees (fees paid directly from your investment)</b>
Shareholder Fees - Class A B C R IS and R6 Shares - Federated International Leaders Fund
A
B
C
R
IS
R6
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 5.50% none none none none none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) none 5.50% 1.00% none none none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) none none none none none none
Redemption Fee (as a percentage of amount redeemed, if applicable) none none none none none none
Exchange Fee none none none none none none
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b>
Annual Fund Operating Expenses - Class A B C R IS and R6 Shares - Federated International Leaders Fund
A
B
C
R
IS
R6
Management Fee 0.85% 0.85% 0.85% 0.85% 0.85% 0.85%
Distribution (12b-1) Fee none [1] 0.75% 0.75% 0.50% none none
Other Expenses 0.51% 0.54% 0.52% 0.47% 0.22% 0.15%
Acquired Fund Fees and Expenses 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Total Annual Fund Operating Expenses 1.38% 2.16% 2.14% 1.84% 1.09% 1.02%
Fee Waivers and/or Expense Reimbursements [2] (0.14%) (0.06%) (0.05%) (0.41%) (0.11%) (0.09%)
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements 1.24% 2.10% 2.09% 1.43% 0.98% 0.93%
[1] The Fund has adopted a Distribution (12b-1) Plan for its Class A shares pursuant to which the A class of the Fund may incur or charge a Distribution (12b-1) fee of up to a maximum amount of 0.05%. No such fee is currently incurred or charged by the A class of the Fund. The A class of the Fund will not incur or charge such a Distribution (12b-1) fee until such time as approved by the Fund’s Board of Directors.
[2] The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Effective February 1, 2019, total annual fund operating expenses (excluding Acquired Fund Fees and Expenses, interest expense, tax reclaim recovery expenses, proxy-related expenses and extraordinary expenses, if any) paid by the Fund’s A, B, C, R, IS and R6 classes (after the voluntary waivers and/or reimbursements) will not exceed 1.22%, 2.08%, 2.07%, 1.41%, 0.96% and 0.91% (the “Fee Limit”), respectively, up to but not including the later of (the “Termination Date”): (a) February 1, 2020; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund’s Board of Directors.
<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 $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. Expenses assuming no redemption are also shown. The Example also assumes that your investment has a 5% return each year and that operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:
Expense Example - Class A B C R IS and R6 Shares - Federated International Leaders Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
A 683 963 1,264 2,116
B 769 1,076 1,359 2,295
C 317 670 1,149 2.472
R 187 579 996 2,159
IS 111 347 601 1,329
R6 104 325 563 1,248
Expense Example, No Redemption - Class A B C R IS and R6 Shares - Federated International Leaders Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
A 683 963 1,264 2,116
B 219 676 1,159 2,295
C 217 670 1,149 2.472
R 187 579 996 2,159
IS 111 347 601 1,329
R6 104 325 563 1,248
<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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 37% of the average value of its portfolio.
<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 growth by investing primarily in a portfolio of equity securities issued by foreign (non U.S.) companies that the Fund's investment adviser, Federated Global Investment Management Corp. (the "Adviser"), has deemed as the best opportunities across its investable universe relative to the company's competitive position or its growth prospects. The Adviser expects that, normally, the Fund will be invested primarily in foreign stocks in developed markets. The Fund is permitted, however, to invest in companies from both developed (including the United States) and emerging market countries. The strategy gives broad exposure to industry leading companies in developed markets, many of which have a strong or growing presence in the emerging markets. The Fund may invest in exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid instruments (such as notes linked to underlying securities, indices or commodities) in order to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s) or to obtain premiums from the sale of derivative contracts. The Fund may also hedge its currency risk by using derivatives such as futures or forward contracts.
<b>What are the Main 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:
  • Stock Market Risk. The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market.  Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market.  Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance.
  • Risk of Foreign Investing. The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.
  • Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers. Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.
  • Currency Risk. Because the exchange rates for currencies fluctuate daily, prices of the foreign securities in which the Fund invests are more volatile than prices of securities traded exclusively in the United States.
  • Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.
  • Sector Risk. Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.
  • Investment Style Risk. The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.
  • Risk of Investing in Emerging Market Countries. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.
  • Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.
  • Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.
  • Liquidity Risk. Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to.
  • Leverage Risk. Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.
  • Counterparty Credit Risk. Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.
  • Risk Related to the Economy.  The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.  Economic, political and financial conditions, or industry or economic trends and developments may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.
  • Technology Risk. The Adviser uses various technologies in managing the Fund, consistent with its investment objective and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
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.
<b>Performance: Bar Chart and Table <br/><br/>Risk/Return Bar Chart</b>
The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Federated International Leaders Fund - A Class
Bar Chart
The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.

Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 33.12% (quarter ended June 30, 2009). Its lowest quarterly return was (25.69)% (quarter ended September 30, 2011).
<b>Average Annual Total Return Table</b>
The Fund's IS class commenced operations on June 21, 2010. The Fund's R class commenced operations on June 24, 2013. The Fund's R6 class commenced operations on August 5, 2013. For the period prior to the commencement of operations of the IS class, R class and R6 class the performance information shown is for the A class, respectively. The performance of the A class has not been adjusted to reflect the expenses applicable to the IS class and R6 class, respectively, since IS class and R6 class have a lower expense ratio than the expense ratio of A class. The performance of A class has been adjusted to reflect the absence of sales charges and adjusted to remove any voluntary waiver of Fund expenses related to A class that may have occurred during the period prior to commencement of operations of R class, IS class and R6 class. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for B, C, R, IS and R6 classes will differ from those shown below for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.

(For the Period Ended December 31, 2018)
Average Annual Total Returns - Class A B C R IS and R6 Shares - Federated International Leaders Fund
1 Year
5 Years
10 Years
A (25.21%) (2.78%) 7.57%
A | Return After Taxes on Distributions (26.05%) (3.13%) 7.39%
A | Return After Taxes on Distributions and Sale of Fund Shares (14.93%) (2.08%) 6.26%
B (25.67%) (2.79%) 7.54%
C (22.20%) (2.41%) 7.37%
R (21.01%) (1.86%) 8.04%
IS (20.66%) (1.43%) 8.42%
R6 (20.58%) (1.37%) 8.37%
Morgan Stanley Capital International Europe, Australasia and Far East Index (reflects no deduction for fees, expenses or taxes) [1] (13.79%) 0.53% 6.32%
Morningstar Foreign Large Blend Funds Average [2] (14.59%) 0.10% 5.89%
[1] The Morgan Stanley Capital International Europe, Australasia and Far East Index is an equity index which captures large- and mid-cap representation across developed market countries around the world, excluding the U.S. and Canada. The index covers approximately 85% of the free float-adjusted market capitalization in each country.
[2] Morningstar figures represent the average of the total returns reported by all the mutual funds designated by Morningstar as falling into the respective category indicated. They do not reflect sales charges.
XML 15 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FEDERATED WORLD INVESTMENT SERIES INC
Prospectus Date rr_ProspectusDate Jan. 31, 2019
Class A B C R IS and R6 Shares | Federated International Leaders Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>Federated International Leaders 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 growth.
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 B Shares (B), Class C Shares (C), Class R Shares (R), Institutional Shares (IS) and Class R6 Shares (R6) of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes (e.g., A class) 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 15 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS and 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 <b>Shareholder Fees (fees paid directly from your investment)</b>
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 February 1, 2020
Fee Waiver Or Reimbursement Over Assets, Later Of Termination Or Next Effective Prospectus fwisi_FeeWaiverOrReimbursementOverAssetsLaterOfTerminationOrNextEffectiveProspectus up to but not including the later of (the "Termination Date"): (a) February 1, 2020; 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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 37% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 37.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes (e.g., A class) 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 IS and 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.
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 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 growth by investing primarily in a portfolio of equity securities issued by foreign (non U.S.) companies that the Fund's investment adviser, Federated Global Investment Management Corp. (the "Adviser"), has deemed as the best opportunities across its investable universe relative to the company's competitive position or its growth prospects. The Adviser expects that, normally, the Fund will be invested primarily in foreign stocks in developed markets. The Fund is permitted, however, to invest in companies from both developed (including the United States) and emerging market countries. The strategy gives broad exposure to industry leading companies in developed markets, many of which have a strong or growing presence in the emerging markets. The Fund may invest in exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid instruments (such as notes linked to underlying securities, indices or commodities) in order to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s) or to obtain premiums from the sale of derivative contracts. The Fund may also hedge its currency risk by using derivatives such as futures or forward contracts.
Risk [Heading] rr_RiskHeading <b>What are the Main 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:
  • Stock Market Risk. The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market.  Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market.  Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance.
  • Risk of Foreign Investing. The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.
  • Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers. Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.
  • Currency Risk. Because the exchange rates for currencies fluctuate daily, prices of the foreign securities in which the Fund invests are more volatile than prices of securities traded exclusively in the United States.
  • Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.
  • Sector Risk. Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.
  • Investment Style Risk. The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.
  • Risk of Investing in Emerging Market Countries. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.
  • Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.
  • Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.
  • Liquidity Risk. Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to.
  • Leverage Risk. Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.
  • Counterparty Credit Risk. Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.
  • Risk Related to the Economy.  The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.  Economic, political and financial conditions, or industry or economic trends and developments may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.
  • Technology Risk. The Adviser uses various technologies in managing the Fund, consistent with its investment objective and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
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.
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 [Text] rr_RiskNotInsured 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 <br/><br/>Risk/Return Bar Chart</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-341-7400
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress FederatedInvestors.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Federated International Leaders Fund - A Class
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.

Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 33.12% (quarter ended June 30, 2009). Its lowest quarterly return was (25.69)% (quarter ended September 30, 2011).
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Return Table</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for A class, and after-tax returns for B, C, R, IS and R6 classes will differ from those shown below for A class.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The Fund's IS class commenced operations on June 21, 2010. The Fund's R class commenced operations on June 24, 2013. The Fund's R6 class commenced operations on August 5, 2013. For the period prior to the commencement of operations of the IS class, R class and R6 class the performance information shown is for the A class, respectively. The performance of the A class has not been adjusted to reflect the expenses applicable to the IS class and R6 class, respectively, since IS class and R6 class have a lower expense ratio than the expense ratio of A class. The performance of A class has been adjusted to reflect the absence of sales charges and adjusted to remove any voluntary waiver of Fund expenses related to A class that may have occurred during the period prior to commencement of operations of R class, IS class and R6 class. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for B, C, R, IS and R6 classes will differ from those shown below for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.

(For the Period Ended December 31, 2018)
Class A B C R IS and R6 Shares | Federated International Leaders 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 0.85%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets 0.51%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.38%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.24%
1 Year rr_ExpenseExampleYear01 $ 683
3 Years rr_ExpenseExampleYear03 963
5 Years rr_ExpenseExampleYear05 1,264
10 Years rr_ExpenseExampleYear10 2,116
1 Year rr_ExpenseExampleNoRedemptionYear01 683
3 Years rr_ExpenseExampleNoRedemptionYear03 963
5 Years rr_ExpenseExampleNoRedemptionYear05 1,264
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,116
2009 rr_AnnualReturn2009 49.58%
2010 rr_AnnualReturn2010 18.59%
2011 rr_AnnualReturn2011 (18.53%)
2012 rr_AnnualReturn2012 30.09%
2013 rr_AnnualReturn2013 27.15%
2014 rr_AnnualReturn2014 (4.45%)
2015 rr_AnnualReturn2015 (2.20%)
2016 rr_AnnualReturn2016 (2.93%)
2017 rr_AnnualReturn2017 27.98%
2018 rr_AnnualReturn2018 (20.85%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 33.12%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest quarterly return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.69%)
1 Year rr_AverageAnnualReturnYear01 (25.21%)
5 Years rr_AverageAnnualReturnYear05 (2.78%)
10 Years rr_AverageAnnualReturnYear10 7.57%
Class A B C R IS and R6 Shares | Federated International Leaders Fund | B  
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 5.50%
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 0.85%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets 0.75%
Other Expenses rr_OtherExpensesOverAssets 0.54%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.16%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.06%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 2.10%
1 Year rr_ExpenseExampleYear01 $ 769
3 Years rr_ExpenseExampleYear03 1,076
5 Years rr_ExpenseExampleYear05 1,359
10 Years rr_ExpenseExampleYear10 2,295
1 Year rr_ExpenseExampleNoRedemptionYear01 219
3 Years rr_ExpenseExampleNoRedemptionYear03 676
5 Years rr_ExpenseExampleNoRedemptionYear05 1,159
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,295
1 Year rr_AverageAnnualReturnYear01 (25.67%)
5 Years rr_AverageAnnualReturnYear05 (2.79%)
10 Years rr_AverageAnnualReturnYear10 7.54%
Class A B C R IS and R6 Shares | Federated International Leaders 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 0.85%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets 0.75%
Other Expenses rr_OtherExpensesOverAssets 0.52%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.14%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.05%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 2.09%
1 Year rr_ExpenseExampleYear01 $ 317
3 Years rr_ExpenseExampleYear03 670
5 Years rr_ExpenseExampleYear05 1,149
10 Years rr_ExpenseExampleYear10 2.472
1 Year rr_ExpenseExampleNoRedemptionYear01 217
3 Years rr_ExpenseExampleNoRedemptionYear03 670
5 Years rr_ExpenseExampleNoRedemptionYear05 1,149
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2.472
1 Year rr_AverageAnnualReturnYear01 (22.20%)
5 Years rr_AverageAnnualReturnYear05 (2.41%)
10 Years rr_AverageAnnualReturnYear10 7.37%
Class A B C R IS and R6 Shares | Federated International Leaders Fund | R  
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 0.85%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets 0.47%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.84%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.41%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.43%
1 Year rr_ExpenseExampleYear01 $ 187
3 Years rr_ExpenseExampleYear03 579
5 Years rr_ExpenseExampleYear05 996
10 Years rr_ExpenseExampleYear10 2,159
1 Year rr_ExpenseExampleNoRedemptionYear01 187
3 Years rr_ExpenseExampleNoRedemptionYear03 579
5 Years rr_ExpenseExampleNoRedemptionYear05 996
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,159
1 Year rr_AverageAnnualReturnYear01 (21.01%)
5 Years rr_AverageAnnualReturnYear05 (1.86%)
10 Years rr_AverageAnnualReturnYear10 8.04%
Class A B C R IS and R6 Shares | Federated International Leaders 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 0.85%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.22%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.09%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.11%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.98%
1 Year rr_ExpenseExampleYear01 $ 111
3 Years rr_ExpenseExampleYear03 347
5 Years rr_ExpenseExampleYear05 601
10 Years rr_ExpenseExampleYear10 1,329
1 Year rr_ExpenseExampleNoRedemptionYear01 111
3 Years rr_ExpenseExampleNoRedemptionYear03 347
5 Years rr_ExpenseExampleNoRedemptionYear05 601
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,329
1 Year rr_AverageAnnualReturnYear01 (20.66%)
5 Years rr_AverageAnnualReturnYear05 (1.43%)
10 Years rr_AverageAnnualReturnYear10 8.42%
Class A B C R IS and R6 Shares | Federated International Leaders 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 0.85%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.15%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.02%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.09%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 0.93%
1 Year rr_ExpenseExampleYear01 $ 104
3 Years rr_ExpenseExampleYear03 325
5 Years rr_ExpenseExampleYear05 563
10 Years rr_ExpenseExampleYear10 1,248
1 Year rr_ExpenseExampleNoRedemptionYear01 104
3 Years rr_ExpenseExampleNoRedemptionYear03 325
5 Years rr_ExpenseExampleNoRedemptionYear05 563
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,248
1 Year rr_AverageAnnualReturnYear01 (20.58%)
5 Years rr_AverageAnnualReturnYear05 (1.37%)
10 Years rr_AverageAnnualReturnYear10 8.37%
Class A B C R IS and R6 Shares | Federated International Leaders Fund | Return After Taxes on Distributions | A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (26.05%)
5 Years rr_AverageAnnualReturnYear05 (3.13%)
10 Years rr_AverageAnnualReturnYear10 7.39%
Class A B C R IS and R6 Shares | Federated International Leaders Fund | Return After Taxes on Distributions and Sale of Fund Shares | A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (14.93%)
5 Years rr_AverageAnnualReturnYear05 (2.08%)
10 Years rr_AverageAnnualReturnYear10 6.26%
Class A B C R IS and R6 Shares | Federated International Leaders Fund | Morgan Stanley Capital International Europe, Australasia and Far East Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (13.79%) [3]
5 Years rr_AverageAnnualReturnYear05 0.53% [3]
10 Years rr_AverageAnnualReturnYear10 6.32% [3]
Class A B C R IS and R6 Shares | Federated International Leaders Fund | Morningstar Foreign Large Blend Funds Average  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (14.59%) [4]
5 Years rr_AverageAnnualReturnYear05 0.10% [4]
10 Years rr_AverageAnnualReturnYear10 5.89% [4]
[1] The Fund has adopted a Distribution (12b-1) Plan for its Class A shares pursuant to which the A class of the Fund may incur or charge a Distribution (12b-1) fee of up to a maximum amount of 0.05%. No such fee is currently incurred or charged by the A class of the Fund. The A class of the Fund will not incur or charge such a Distribution (12b-1) fee until such time as approved by the Fund’s Board of Directors.
[2] The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Effective February 1, 2019, total annual fund operating expenses (excluding Acquired Fund Fees and Expenses, interest expense, tax reclaim recovery expenses, proxy-related expenses and extraordinary expenses, if any) paid by the Fund’s A, B, C, R, IS and R6 classes (after the voluntary waivers and/or reimbursements) will not exceed 1.22%, 2.08%, 2.07%, 1.41%, 0.96% and 0.91% (the “Fee Limit”), respectively, up to but not including the later of (the “Termination Date”): (a) February 1, 2020; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund’s Board of Directors.
[3] The Morgan Stanley Capital International Europe, Australasia and Far East Index is an equity index which captures large- and mid-cap representation across developed market countries around the world, excluding the U.S. and Canada. The index covers approximately 85% of the free float-adjusted market capitalization in each country.
[4] Morningstar figures represent the average of the total returns reported by all the mutual funds designated by Morningstar as falling into the respective category indicated. They do not reflect sales charges.
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Class T Shares | Federated International Leaders Fund
<b>Federated International Leaders Fund (the "Fund")</b>
<b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b>
The Fund's investment objective is to provide long-term capital growth.
<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 T Shares (T) of the Fund.
<b>Shareholder Fees (fees paid directly from your investment)</b>
Shareholder Fees
Class T Shares
Federated International Leaders Fund
T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) none
Redemption Fee (as a percentage of amount redeemed, if applicable) none
Exchange Fee none
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b>
Annual Fund Operating Expenses
Class T Shares
Federated International Leaders Fund
T
Management Fee 0.85%
Distribution (12b-1) Fee none
Other Expenses 0.51% [1]
Acquired Fund Fees and Expenses 0.02%
Total Annual Fund Operating Expenses 1.38%
Fee Waivers and/or Expense Reimbursements (0.14%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements 1.24%
[1] Because the Class T Shares have not yet commenced operations, "Other Expenses" are based on estimated amounts for the current fiscal year.
[2] The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding Acquired Fund Fees and Expenses, tax reclaim recovery expenses, proxy-related expenses, interest expense and extraordinary expenses, if any) paid by the Fund's T class (after the voluntary waivers and/or reimbursements) will not exceed 1.22% (the "Fee Limit"), up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund's Board of Directors.
<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 $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:
Expense Example
Class T Shares
Federated International Leaders Fund
T
USD ($)
1 Year $ 387
3 Years 676
5 Years 986
10 Years $ 1,866
<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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 37% of the average value of its portfolio.
<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 growth by investing primarily in a portfolio of equity securities issued by foreign (non U.S.) companies that the Fund's investment adviser, Federated Global Investment Management Corp. (the "Adviser"), has deemed as the best opportunities across its investable universe relative to the company's competitive position or its growth prospects. The Adviser expects that, normally, the Fund will be invested primarily in foreign stocks in developed markets. The Fund is permitted, however, to invest in companies from both developed (including the United States) and emerging market countries. The strategy gives broad exposure to industry leading companies in developed markets, many of which have a strong or growing presence in the emerging markets. The Fund may invest in exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid instruments (such as notes linked to underlying securities, indices or commodities) in order to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s) or to obtain premiums from the sale of derivative contracts. The Fund may also hedge its currency risk by using derivatives such as futures or forward contracts.
<b>What are the Main 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:
  • Stock Market Risk. The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market.  Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market.  Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance. 
  • Risk of Foreign Investing. The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.
  • Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers. Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.
  • Currency Risk. Because the exchange rates for currencies fluctuate daily, prices of the foreign securities in which the Fund invests are more volatile than prices of securities traded exclusively in the United States.
  • Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.
  • Sector Risk. Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.
  • Investment Style Risk. The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.
  • Risk of Investing in Emerging Market Countries. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.
  • Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.
  • Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.
  • Liquidity Risk. Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to.
  • Leverage Risk. Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.
  • Counterparty Credit Risk. Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.
  • Risk Related to the Economy.  The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.  Economic, political and financial conditions, or industry or economic trends and developments may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.
  • Technology Risk. The Adviser uses various technologies in managing the Fund, consistent with its investment objective and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
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.
<b>Performance: Bar Chart and Table<br/><br/> Risk/Return Bar Chart</b>
The bar chart and performance table below reflect historical performance data for the Fund. The Fund's Class T Shares ("T class") has not yet commenced operations. The Fund currently offers six other classes of shares: Class A Shares ("A class"), Class B Shares, Class C Shares, Class R Shares, Institutional Shares and Class R6 Shares.

The T class performance information shown below is for the Fund's A class and has not been adjusted since the T class is expected to have the same net expense ratio as the A class.

The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. The Average Annual Total Return Table shows returns averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Federated International Leaders Fund - T Class
Bar Chart
The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.

Within the periods shown in the bar chart, the Fund's T class highest quarterly return was 33.12% (quarter ended June 30, 2009). Its lowest quarterly return was (25.69)% (quarter ended September 30, 2011).
<b>Average Annual Total Return Table</b>
The Fund's T class has not yet commenced operations. The T class performance information shown below is for the Fund's A class as described above.

In addition to Return Before Taxes, Returns After Taxes is shown for the Fund's T class to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plans.

(For the Period Ended December 31, 2018)
Average Annual Total Returns - Class T Shares - Federated International Leaders Fund
1 Year
5 Years
10 Years
T (25.21%) (2.78%) 7.57%
T | Return After Taxes on Distributions (26.05%) (3.13%) 7.39%
T | Return After Taxes on Distributions and Sale of Fund Shares (14.93%) (2.08%) 6.26%
Morgan Stanley Capital International Europe, Australasia and Far East Index (reflects no deduction for fees, expenses or taxes) [1] (13.79%) 0.53% 6.32%
Morningstar Foreign Large Blend Funds Average [2] (14.59%) 0.10% 5.89%
[1] The Morgan Stanley Capital International Europe, Australasia and Far East Index is an equity index which captures large- and mid-cap representation across developed markets countries around the world, excluding the U.S. and Canada. The index covers approximately 85% of the free float-adjusted market capitalization in each country.
[2] Morningstar figures represent the average of the total returns reported by all the mutual funds designated by Morningstar as falling into the respective category indicated. They do not reflect sales charges.

XML 18 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FEDERATED WORLD INVESTMENT SERIES INC
Prospectus Date rr_ProspectusDate Jan. 31, 2019
Class T Shares | Federated International Leaders Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>Federated International Leaders 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 growth.
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 T Shares (T) of the Fund.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <b>Shareholder Fees (fees paid directly from your investment)</b>
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 February 1, 2020
Fee Waiver Or Reimbursement Over Assets, Later Of Termination Or Next Effective Prospectus fwisi_FeeWaiverOrReimbursementOverAssetsLaterOfTerminationOrNextEffectiveProspectus up to but not including the later of (the "Termination Date"): (a) February 1, 2020; 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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 37% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 37.00%
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Because the Class T Shares have not yet commenced operations, "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 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 growth by investing primarily in a portfolio of equity securities issued by foreign (non U.S.) companies that the Fund's investment adviser, Federated Global Investment Management Corp. (the "Adviser"), has deemed as the best opportunities across its investable universe relative to the company's competitive position or its growth prospects. The Adviser expects that, normally, the Fund will be invested primarily in foreign stocks in developed markets. The Fund is permitted, however, to invest in companies from both developed (including the United States) and emerging market countries. The strategy gives broad exposure to industry leading companies in developed markets, many of which have a strong or growing presence in the emerging markets. The Fund may invest in exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid instruments (such as notes linked to underlying securities, indices or commodities) in order to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s) or to obtain premiums from the sale of derivative contracts. The Fund may also hedge its currency risk by using derivatives such as futures or forward contracts.
Risk [Heading] rr_RiskHeading <b>What are the Main 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:
  • Stock Market Risk. The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market.  Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market.  Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance. 
  • Risk of Foreign Investing. The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.
  • Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers. Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.
  • Currency Risk. Because the exchange rates for currencies fluctuate daily, prices of the foreign securities in which the Fund invests are more volatile than prices of securities traded exclusively in the United States.
  • Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.
  • Sector Risk. Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.
  • Investment Style Risk. The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.
  • Risk of Investing in Emerging Market Countries. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.
  • Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.
  • Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.
  • Liquidity Risk. Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to.
  • Leverage Risk. Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.
  • Counterparty Credit Risk. Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.
  • Risk Related to the Economy.  The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.  Economic, political and financial conditions, or industry or economic trends and developments may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.
  • Technology Risk. The Adviser uses various technologies in managing the Fund, consistent with its investment objective and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
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.
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 [Text] rr_RiskNotInsured 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<br/><br/> Risk/Return Bar Chart</b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and performance table below reflect historical performance data for the Fund. The Fund's Class T Shares ("T class") has not yet commenced operations. The Fund currently offers six other classes of shares: Class A Shares ("A class"), Class B Shares, Class C Shares, Class R Shares, Institutional Shares and Class R6 Shares.

The T class performance information shown below is for the Fund's A class and has not been adjusted since the T class is expected to have the same net expense ratio as the A class.

The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. The Average Annual Total Return Table shows returns averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and performance table below reflect historical performance data for the Fund. <br/><br/>The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-341-7400
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress FederatedInvestors.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Federated International Leaders Fund - T Class
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.

Within the periods shown in the bar chart, the Fund's T class highest quarterly return was 33.12% (quarter ended June 30, 2009). Its lowest quarterly return was (25.69)% (quarter ended September 30, 2011).
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Return Table</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns are not relevant to investors holding shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plans.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The Fund's T class has not yet commenced operations. The T class performance information shown below is for the Fund's A class as described above.

In addition to Return Before Taxes, Returns After Taxes is shown for the Fund's T class to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plans.

(For the Period Ended December 31, 2018)
Class T Shares | Federated International Leaders Fund | T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
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 0.85%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.51% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.38%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.24%
1 Year rr_ExpenseExampleYear01 $ 387
3 Years rr_ExpenseExampleYear03 676
5 Years rr_ExpenseExampleYear05 986
10 Years rr_ExpenseExampleYear10 $ 1,866
2009 rr_AnnualReturn2009 49.58%
2010 rr_AnnualReturn2010 18.59%
2011 rr_AnnualReturn2011 (18.53%)
2012 rr_AnnualReturn2012 30.09%
2013 rr_AnnualReturn2013 27.15%
2014 rr_AnnualReturn2014 (4.45%)
2015 rr_AnnualReturn2015 (2.20%)
2016 rr_AnnualReturn2016 (2.93%)
2017 rr_AnnualReturn2017 27.98%
2018 rr_AnnualReturn2018 (20.58%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 33.12%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest quarterly return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.69%)
1 Year rr_AverageAnnualReturnYear01 (25.21%)
5 Years rr_AverageAnnualReturnYear05 (2.78%)
10 Years rr_AverageAnnualReturnYear10 7.57%
Class T Shares | Federated International Leaders Fund | Return After Taxes on Distributions | T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (26.05%)
5 Years rr_AverageAnnualReturnYear05 (3.13%)
10 Years rr_AverageAnnualReturnYear10 7.39%
Class T Shares | Federated International Leaders Fund | Return After Taxes on Distributions and Sale of Fund Shares | T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (14.93%)
5 Years rr_AverageAnnualReturnYear05 (2.08%)
10 Years rr_AverageAnnualReturnYear10 6.26%
Class T Shares | Federated International Leaders Fund | Morgan Stanley Capital International Europe, Australasia and Far East Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (13.79%) [3]
5 Years rr_AverageAnnualReturnYear05 0.53% [3]
10 Years rr_AverageAnnualReturnYear10 6.32% [3]
Class T Shares | Federated International Leaders Fund | Morningstar Foreign Large Blend Funds Average  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (14.59%) [4]
5 Years rr_AverageAnnualReturnYear05 0.10% [4]
10 Years rr_AverageAnnualReturnYear10 5.89% [4]
[1] Because the Class T Shares have not yet commenced operations, "Other Expenses" are based on estimated amounts for the current fiscal year.
[2] The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding Acquired Fund Fees and Expenses, tax reclaim recovery expenses, proxy-related expenses, interest expense and extraordinary expenses, if any) paid by the Fund's T class (after the voluntary waivers and/or reimbursements) will not exceed 1.22% (the "Fee Limit"), up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund's Board of Directors.
[3] The Morgan Stanley Capital International Europe, Australasia and Far East Index is an equity index which captures large- and mid-cap representation across developed markets countries around the world, excluding the U.S. and Canada. The index covers approximately 85% of the free float-adjusted market capitalization in each country.
[4] Morningstar figures represent the average of the total returns reported by all the mutual funds designated by Morningstar as falling into the respective category indicated. They do not reflect sales charges.
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Class A C and IS Shares | Federated International Small-Mid Company Fund
<b>Federated International Small-Mid Company Fund (the "Fund")</b>
<b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b>
The Fund's investment objective is to provide long-term growth of capital.
<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 Institutional Shares (IS) of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes (e.g., A class) 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 15 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS 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)
Shareholder Fees - Class A C and IS Shares - Federated International Small-Mid Company Fund
A
C
IS
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 5.50% none none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) none 1.00% none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) none none none
Redemption Fee (as a percentage of amount redeemed, if applicable) 2.00% 2.00% 2.00%
Exchange Fee none none none
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b>
Annual Fund Operating Expenses - Class A C and IS Shares - Federated International Small-Mid Company Fund
A
C
IS
Management Fee 1.25% 1.25% 1.25%
Distribution (12b-1) Fee 0.25% 0.75% none
Other Expenses 0.51% [1] 0.75% 0.51%
Total Annual Fund Operating Expenses 2.01% 2.75% 1.76%
Fee Waivers and/or Expense Reimbursements [2] (0.14%) (0.08%) (0.09%)
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements 1.87% 2.67% 1.67%
[1] The Fund may incur or charge shareholder services/account administration fees on its A class of up to a maximum amount of 0.25%. No such fees are currently incurred or charged by the A class of the Fund. The A class of the Fund will not incur or charge such fees until such time as approved by the Fund's Board of Directors (the "Directors").
[2] The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Effective February 1, 2019, total annual fund operating expenses (excluding acquired fund fees and expenses, tax reclaim recovery expenses, interest expense, extraordinary expenses, and proxy-related expenses paid by the Fund, if any) paid by the Fund's A, C and IS classes (after the voluntary waivers and/or reimbursements) will not exceed 1.86%, 2.66% and 1.66% (the "Fee Limit"), respectively, up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Directors.
<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 $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. Expenses assuming no redemption are also shown. The Example also assumes that your investment has a 5% return each year and that the operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:
Expense Example - Class A C and IS Shares - Federated International Small-Mid Company Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
A 743 1,146 1,573 2,759
C 378 853 1,454 3,080
IS 179 554 954 2,073
Expense Example, No Redemption - Class A C and IS Shares - Federated International Small-Mid Company Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
A 743 1,146 1,573 2,759
C 278 853 1,454 3,080
IS 179 554 954 2,073
<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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 28% of the average value of its portfolio.
<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 growth of capital by investing at least 80% of its net assets in equity securities issued by non-U.S. small- or mid-capitalization companies. The Fund's investment adviser, Federated Global Investment Management Corp., ("the Adviser") seeks to invest in companies whose stock the Adviser perceives as undervalued relative to their assets or attractively priced relative to their growth prospects. The Fund may invest in companies from both developed and emerging market countries. The Fund may hedge its currency risk by using derivatives such as futures or forward contracts. The Fund may invest in depositary receipts, real estate investment trusts, exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid investments (such as notes linked to underlying securities or indices) in order to implement its investment strategy. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s), to obtain premiums from the sale of derivative contracts, or to realize gains from trading a derivative contract. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy, as described below, 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 small- or mid-capitalization companies. 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 small- or mid-capitalization companies. For purposes of this limitation, small- or mid-capitalization companies will normally be defined as companies with market capitalizations similar to the constituents of the Fund's benchmark, the MSCI ACWI ex USA SMID Cap Index. As of November 30, 2018, the capitalization of companies included in the MSCI ACWI ex USA SMID Cap Index ranged from approximately $7.7 million to $40.7 billion. Such definition will be applied at the time of investment and the Adviser will not be required to sell a stock because a company's market capitalization has grown larger than the range of small- or mid-capitalization stocks in the MSCI ACWI ex USA SMID Cap Index.
<b>What are the Main 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:
  • Stock Market Risk. The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market. Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market. Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance.
  • Real Estate Investment Trust Risk. Real estate investment trusts (REITs) carry risks associated with owning real estate, including the potential for a decline in value due to economic or market conditions.
  • Risk of Foreign Investing. The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.
  • Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers. Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.
  • Small-Cap Company Risk. The Fund may invest in small capitalization (or "small-cap") companies. Small-cap companies may have less liquid stock, a more volatile share price, unproven track records, a limited product or service base, and limited access to capital. The above factors could make small-cap companies more likely to fail than larger companies, and increase the volatility of the Fund's portfolio, performance and Share price.
  • Mid-Cap Company Risk. The Fund may invest in mid-capitalization (or "mid-cap") companies. Mid-cap companies often have narrower markets, limited managerial and financial resources, more volatile performance and greater risk of failure, compared to larger, more established companies. These factors could increase the volatility of the Fund's portfolio, performance and Share price.
  • Currency Risk. Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience increase volatility with respect to the value of its Shares and its returns as a result of its exposure to foreign currencies through direct holding of such currencies or holding of non-U.S. dollar denominated securities.
  • Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.
  • Risk of Investing in Emerging Market Countries. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.
  • Greater China Risk. Although larger and/or more established than many emerging markets, the markets of the Greater China region function in many ways as emerging markets, and carry the high levels of risks associated with emerging markets. Direct investments in, or indirect exposure to, the Greater China region may be subject to the risks associated with trading on less-developed trading markets, in addition to acute political risks such as possible negative repercussions resulting from China's relationship with Taiwan or Hong Kong, restrictions on monetary repatriation, or other adverse government actions. As export-driven economies, the economies of countries in the Greater China region are affected by developments in the economies of their principal trading partners.
  • Sector Risk. Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.
  • Investment Style Risk. The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.
  • Liquidity Risk. Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to.
  • Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.
  • Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.
  • Counterparty Credit Risk. Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.
  • Leverage Risk. Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.
  • Risk Related to the Economy.  The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.  Economic, political and financial conditions, or industry or economic trends and developments, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.
  • Technology Risk. The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
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.
<b>Performance: Bar Chart and Table<br/><br/> Risk/Return Bar Chart </b>
The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Federated International Small-Mid Company Fund - A Class
Bar Chart
The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.

Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 28.60% (quarter ended June 30, 2009). Its lowest quarterly return was (25.82)% (quarter ended September 30, 2011).
<b>Average Annual Total Return Table</b>
In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for C and IS classes will differ from those shown for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.

(For the Period Ended December 31, 2018)
Average Annual Total Returns - Class A C and IS Shares - Federated International Small-Mid Company Fund
1 Year
5 Years
10 Years
A (23.31%) (1.20%) 8.04%
A | Return After Taxes on Distributions (25.92%) (3.18%) 6.65%
A | Return After Taxes on Distributions and Sale of Fund Shares (12.20%) (0.91%) 6.59%
C (20.20%) (0.87%) 7.79%
IS (18.70%) 0.13% 8.87%
MSCI ACWI ex USA SMID Cap Index (reflects no deduction for fees, expenses or taxes) [1] (17.06%) 1.75% 8.84%
[1] The MSCI ACWI ex USA SMID Cap Index captures mid- and small-cap representation across developed market countries (excluding the U.S.) and emerging markets countries. The index covers approximately 28% of the free float-adjusted market capitalization in each country.

XML 21 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FEDERATED WORLD INVESTMENT SERIES INC
Prospectus Date rr_ProspectusDate Jan. 31, 2019
Class A C and IS Shares | Federated International Small-Mid Company Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>Federated International Small-Mid Company 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 growth of capital.
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 Institutional Shares (IS) of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes (e.g., A class) 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 15 and in "Appendix B" to this Prospectus. If you purchase the Fund's IS 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 February 1, 2020
Fee Waiver Or Reimbursement Over Assets, Later Of Termination Or Next Effective Prospectus fwisi_FeeWaiverOrReimbursementOverAssetsLaterOfTerminationOrNextEffectiveProspectus up to but not including the later of (the "Termination Date"): (a) February 1, 2020; 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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 28% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 28.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in certain classes (e.g., A class) 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 IS 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.
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:
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 growth of capital by investing at least 80% of its net assets in equity securities issued by non-U.S. small- or mid-capitalization companies. The Fund's investment adviser, Federated Global Investment Management Corp., ("the Adviser") seeks to invest in companies whose stock the Adviser perceives as undervalued relative to their assets or attractively priced relative to their growth prospects. The Fund may invest in companies from both developed and emerging market countries. The Fund may hedge its currency risk by using derivatives such as futures or forward contracts. The Fund may invest in depositary receipts, real estate investment trusts, exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid investments (such as notes linked to underlying securities or indices) in order to implement its investment strategy. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s), to obtain premiums from the sale of derivative contracts, or to realize gains from trading a derivative contract. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy, as described below, 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 small- or mid-capitalization companies. 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 small- or mid-capitalization companies. For purposes of this limitation, small- or mid-capitalization companies will normally be defined as companies with market capitalizations similar to the constituents of the Fund's benchmark, the MSCI ACWI ex USA SMID Cap Index. As of November 30, 2018, the capitalization of companies included in the MSCI ACWI ex USA SMID Cap Index ranged from approximately $7.7 million to $40.7 billion. Such definition will be applied at the time of investment and the Adviser will not be required to sell a stock because a company's market capitalization has grown larger than the range of small- or mid-capitalization stocks in the MSCI ACWI ex USA SMID Cap Index.
Risk [Heading] rr_RiskHeading <b>What are the Main 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:
  • Stock Market Risk. The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market. Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market. Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance.
  • Real Estate Investment Trust Risk. Real estate investment trusts (REITs) carry risks associated with owning real estate, including the potential for a decline in value due to economic or market conditions.
  • Risk of Foreign Investing. The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.
  • Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers. Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.
  • Small-Cap Company Risk. The Fund may invest in small capitalization (or "small-cap") companies. Small-cap companies may have less liquid stock, a more volatile share price, unproven track records, a limited product or service base, and limited access to capital. The above factors could make small-cap companies more likely to fail than larger companies, and increase the volatility of the Fund's portfolio, performance and Share price.
  • Mid-Cap Company Risk. The Fund may invest in mid-capitalization (or "mid-cap") companies. Mid-cap companies often have narrower markets, limited managerial and financial resources, more volatile performance and greater risk of failure, compared to larger, more established companies. These factors could increase the volatility of the Fund's portfolio, performance and Share price.
  • Currency Risk. Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience increase volatility with respect to the value of its Shares and its returns as a result of its exposure to foreign currencies through direct holding of such currencies or holding of non-U.S. dollar denominated securities.
  • Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.
  • Risk of Investing in Emerging Market Countries. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.
  • Greater China Risk. Although larger and/or more established than many emerging markets, the markets of the Greater China region function in many ways as emerging markets, and carry the high levels of risks associated with emerging markets. Direct investments in, or indirect exposure to, the Greater China region may be subject to the risks associated with trading on less-developed trading markets, in addition to acute political risks such as possible negative repercussions resulting from China's relationship with Taiwan or Hong Kong, restrictions on monetary repatriation, or other adverse government actions. As export-driven economies, the economies of countries in the Greater China region are affected by developments in the economies of their principal trading partners.
  • Sector Risk. Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.
  • Investment Style Risk. The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.
  • Liquidity Risk. Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to.
  • Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.
  • Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.
  • Counterparty Credit Risk. Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.
  • Leverage Risk. Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.
  • Risk Related to the Economy.  The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.  Economic, political and financial conditions, or industry or economic trends and developments, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.
  • Technology Risk. The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
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.
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 [Text] rr_RiskNotInsured 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<br/><br/> Risk/Return Bar Chart </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns for each class averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's A class total returns on a calendar year-by-year basis.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-341-7400
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress FederatedInvestors.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Federated International Small-Mid Company Fund - A Class
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.

Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 28.60% (quarter ended June 30, 2009). Its lowest quarterly return was (25.82)% (quarter ended September 30, 2011).
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Return Table</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown only for A class, and after-tax returns for C and IS classes will differ from those shown for A class.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock In addition to Return Before Taxes, Return After Taxes is shown for the Fund's A class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for A class, and after-tax returns for C and IS classes will differ from those shown for A class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.

(For the Period Ended December 31, 2018)
Class A C and IS Shares | Federated International Small-Mid Company 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 2.00%
Exchange Fee rr_ExchangeFeeOverRedemption none
Management Fee rr_ManagementFeesOverAssets 1.25%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.51% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.01%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.87%
1 Year rr_ExpenseExampleYear01 $ 743
3 Years rr_ExpenseExampleYear03 1,146
5 Years rr_ExpenseExampleYear05 1,573
10 Years rr_ExpenseExampleYear10 2,759
1 Year rr_ExpenseExampleNoRedemptionYear01 743
3 Years rr_ExpenseExampleNoRedemptionYear03 1,146
5 Years rr_ExpenseExampleNoRedemptionYear05 1,573
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,759
2009 rr_AnnualReturn2009 47.07%
2010 rr_AnnualReturn2010 21.44%
2011 rr_AnnualReturn2011 (17.53%)
2012 rr_AnnualReturn2012 22.01%
2013 rr_AnnualReturn2013 28.08%
2014 rr_AnnualReturn2014 (9.34%)
2015 rr_AnnualReturn2015 9.65%
2016 rr_AnnualReturn2016 (8.31%)
2017 rr_AnnualReturn2017 34.70%
2018 rr_AnnualReturn2018 (18.85%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 28.60%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest quarterly return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.82%)
1 Year rr_AverageAnnualReturnYear01 (23.31%)
5 Years rr_AverageAnnualReturnYear05 (1.20%)
10 Years rr_AverageAnnualReturnYear10 8.04%
Class A C and IS Shares | Federated International Small-Mid Company 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 2.00%
Exchange Fee rr_ExchangeFeeOverRedemption none
Management Fee rr_ManagementFeesOverAssets 1.25%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets 0.75%
Other Expenses rr_OtherExpensesOverAssets 0.75%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.75%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.08%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 2.67%
1 Year rr_ExpenseExampleYear01 $ 378
3 Years rr_ExpenseExampleYear03 853
5 Years rr_ExpenseExampleYear05 1,454
10 Years rr_ExpenseExampleYear10 3,080
1 Year rr_ExpenseExampleNoRedemptionYear01 278
3 Years rr_ExpenseExampleNoRedemptionYear03 853
5 Years rr_ExpenseExampleNoRedemptionYear05 1,454
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 3,080
1 Year rr_AverageAnnualReturnYear01 (20.20%)
5 Years rr_AverageAnnualReturnYear05 (0.87%)
10 Years rr_AverageAnnualReturnYear10 7.79%
Class A C and IS Shares | Federated International Small-Mid Company 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 2.00%
Exchange Fee rr_ExchangeFeeOverRedemption none
Management Fee rr_ManagementFeesOverAssets 1.25%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.51%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.76%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.09%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.67%
1 Year rr_ExpenseExampleYear01 $ 179
3 Years rr_ExpenseExampleYear03 554
5 Years rr_ExpenseExampleYear05 954
10 Years rr_ExpenseExampleYear10 2,073
1 Year rr_ExpenseExampleNoRedemptionYear01 179
3 Years rr_ExpenseExampleNoRedemptionYear03 554
5 Years rr_ExpenseExampleNoRedemptionYear05 954
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,073
1 Year rr_AverageAnnualReturnYear01 (18.70%)
5 Years rr_AverageAnnualReturnYear05 0.13%
10 Years rr_AverageAnnualReturnYear10 8.87%
Class A C and IS Shares | Federated International Small-Mid Company Fund | Return After Taxes on Distributions | A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (25.92%)
5 Years rr_AverageAnnualReturnYear05 (3.18%)
10 Years rr_AverageAnnualReturnYear10 6.65%
Class A C and IS Shares | Federated International Small-Mid Company Fund | Return After Taxes on Distributions and Sale of Fund Shares | A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (12.20%)
5 Years rr_AverageAnnualReturnYear05 (0.91%)
10 Years rr_AverageAnnualReturnYear10 6.59%
Class A C and IS Shares | Federated International Small-Mid Company Fund | MSCI ACWI ex USA SMID Cap Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (17.06%) [3]
5 Years rr_AverageAnnualReturnYear05 1.75% [3]
10 Years rr_AverageAnnualReturnYear10 8.84% [3]
[1] The Fund may incur or charge shareholder services/account administration fees on its A class of up to a maximum amount of 0.25%. No such fees are currently incurred or charged by the A class of the Fund. The A class of the Fund will not incur or charge such fees until such time as approved by the Fund's Board of Directors (the "Directors").
[2] The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Effective February 1, 2019, total annual fund operating expenses (excluding acquired fund fees and expenses, tax reclaim recovery expenses, interest expense, extraordinary expenses, and proxy-related expenses paid by the Fund, if any) paid by the Fund's A, C and IS classes (after the voluntary waivers and/or reimbursements) will not exceed 1.86%, 2.66% and 1.66% (the "Fee Limit"), respectively, up to but not including the later of (the "Termination Date"): (a) February 1, 2020; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Directors.
[3] The MSCI ACWI ex USA SMID Cap Index captures mid- and small-cap representation across developed market countries (excluding the U.S.) and emerging markets countries. The index covers approximately 28% of the free float-adjusted market capitalization in each country.
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Class T Shares | Federated International Small-Mid Company Fund
<b>Federated International Small-Mid Company Fund (the "Fund")</b>
<b>RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</b>
The Fund's investment objective is to provide long-term growth of capital.
<b>RISK/RETURN SUMMARY: FEES AND EXPENSES</b>
This table describes the fees and expenses that you may pay if you buy and hold the Fund's Class T Shares (T).
Shareholder Fees (fees paid directly from your investment)
Shareholder Fees
Class T Shares
Federated International Small-Mid Company Fund
T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) none
Redemption Fee (as a percentage of amount redeemed, if applicable) 2.00%
Exchange Fee none
<b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b>
Annual Fund Operating Expenses
Class T Shares
Federated International Small-Mid Company Fund
T
Management Fee 1.25%
Distribution (12b-1) Fee none
Other Expenses 0.76% [1]
Total Annual Fund Operating Expenses 2.01%
Fee Waivers and/or Expense Reimbursements (0.14%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements 1.87%
[1] Because the Class T Shares have not yet commenced operations, “Other Expenses” are based on estimated amounts for the current fiscal year.
[2] The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, tax reclaim recovery expenses, interest expense, extraordinary expenses, and proxy-related expenses paid by the Fund, if any) paid by the Fund’s T class (after the voluntary waivers and/or reimbursements) will not exceed 1.86% (the “Fee Limit”), up to but not including the later of (the “Termination Date”): (a) February 1, 2020; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund’s Board of Directors.
<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 $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the operating expenses are as shown in the table above and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:
Expense Example
Class T Shares
Federated International Small-Mid Company Fund
T
USD ($)
1 Year $ 449
3 Years 865
5 Years 1,306
10 Years $ 2,529
<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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 28% of the average value of its portfolio.
<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 growth of capital by investing at least 80% of its net assets in equity securities issued by non-U.S. small- or mid-capitalization companies. The Fund's investment adviser, Federated Global Investment Management Corp., ("the Adviser") seeks to invest in companies whose stock the Adviser perceives as undervalued relative to their assets or attractively priced relative to their growth prospects. The Fund may invest in companies from both developed and emerging market countries. The Fund may hedge its currency risk by using derivatives such as futures or forward contracts. The Fund may invest in depositary receipts, real estate investment trusts, exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid investments (such as notes linked to underlying securities or indices) in order to implement its investment strategy. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s), to obtain premiums from the sale of derivative contracts, or to realize gains from trading a derivative contract. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy, as described below, 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 small- or mid-capitalization companies. 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 small- or mid-capitalization companies. For purposes of this limitation, small- or mid-capitalization companies will normally be defined as companies with market capitalizations similar to the constituents of the Fund's benchmark, the MSCI ACWI ex USA SMID Cap Index. As of November 30, 2018, the capitalization of companies included in the MSCI ACWI ex USA SMID Cap Index ranged from approximately $7.7 million to $40.7 billion. Such definition will be applied at the time of investment and the Adviser will not be required to sell a stock because a company's market capitalization has grown larger than the range of small- or mid-capitalization stocks in the MSCI ACWI ex USA SMID Cap Index.
<b>What are the Main 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:
  • Stock Market Risk. The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market. Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market. Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance.
  • Real Estate Investment Trust Risk. Real estate investment trusts (REITs) carry risks associated with owning real estate, including the potential for a decline in value due to economic or market conditions.
  • Risk of Foreign Investing. The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.
  • Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers. Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.
  • Small-Cap Company Risk. The Fund may invest in small capitalization (or "small-cap") companies. Small-cap companies may have less liquid stock, a more volatile share price, unproven track records, a limited product or service base, and limited access to capital. The above factors could make small-cap companies more likely to fail than larger companies, and increase the volatility of the Fund's portfolio, performance and Share price.
  • Mid-Cap Company Risk. The Fund may invest in mid-capitalization (or "mid-cap") companies. Mid-cap companies often have narrower markets, limited managerial and financial resources, more volatile performance and greater risk of failure, compared to larger, more established companies. These factors could increase the volatility of the Fund's portfolio, performance and Share price.
  • Currency Risk. Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience increase volatility with respect to the value of its Shares and its returns as a result of its exposure to foreign currencies through direct holding of such currencies or holding of non-U.S. dollar denominated securities.
  • Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.
  • Risk of Investing in Emerging Market Countries. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.
  • Greater China Risk. Although larger and/or more established than many emerging markets, the markets of the Greater China region function in many ways as emerging markets, and carry the high levels of risks associated with emerging markets. Direct investments in, or indirect exposure to, the Greater China region may be subject to the risks associated with trading on less-developed trading markets, in addition to acute political risks such as possible negative repercussions resulting from China's relationship with Taiwan or Hong Kong, restrictions on monetary repatriation, or other adverse government actions. As export-driven economies, the economies of countries in the Greater China region are affected by developments in the economies of their principal trading partners.
  • Sector Risk. Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.
  • Investment Style Risk. The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.
  • Liquidity Risk. Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to.
  • Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.
  • Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.
  • Counterparty Credit Risk. Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.
  • Leverage Risk. Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.
  • Risk Related to the Economy.  The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.  Economic, political and financial conditions, or industry or economic trends and developments, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.
  • Technology Risk. The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
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.
<b>Performance: Bar Chart and Table <br/><br/>Risk/Return Bar Chart </b>
The bar chart and performance table below reflect historical performance data for the Fund. The Fund's Class T Shares ("T class") has not yet commenced operations. The Fund currently offers four other classes of shares: Class A Shares ("A class"), Class B Shares, Class C Shares and Institutional Shares. The T class performance information shown below is for the Fund's A class and has not been adjusted since the T class is expected to have the same net expense ratio as the A class.

The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Federated International Small-Mid Company Fund - T Class
Bar Chart
The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.

Within the periods shown in the bar chart, the Fund's T class highest quarterly return was 28.60% (quarter ended June 30, 2009). Its lowest quarterly return was (25.82)% (quarter ended September 30, 2011).
<b>Average Annual Total Return Table</b>
The Fund's T class has not yet commenced operations. The T class performance information shown below is for the Fund's A class as described above.

In addition to Return Before Taxes, Return After Taxes is shown for the Fund's T class to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.

(For the Period Ended December 31, 2018)
Average Annual Total Returns - Class T Shares - Federated International Small-Mid Company Fund
1 Year
5 Years
10 Years
T (23.31%) (1.20%) 8.04%
T | Return After Taxes on Distributions (25.92%) (3.18%) 6.65%
T | Return After Taxes on Distributions and Sale of Fund Shares (12.20%) (0.91%) 6.59%
MSCI ACWI ex USA SMID Cap Index (reflects no deduction for fees, expenses or taxes) [1] (17.06%) 1.75% 8.84%
[1] The MSCI ACWI ex USA SMID Cap Index captures mid- and small-cap representation across developed market countries (excluding the U.S.) and emerging markets countries. The index covers approximately 28% of the free float-adjusted market capitalization in each country.

XML 24 R39.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FEDERATED WORLD INVESTMENT SERIES INC
Prospectus Date rr_ProspectusDate Jan. 31, 2019
Class T Shares | Federated International Small-Mid Company Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <b>Federated International Small-Mid Company 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 growth of capital.
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 the Fund's Class T Shares (T).
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 February 1, 2020
Fee Waiver Or Reimbursement Over Assets, Later Of Termination Or Next Effective Prospectus fwisi_FeeWaiverOrReimbursementOverAssetsLaterOfTerminationOrNextEffectiveProspectus up to but not including the later of (the "Termination Date"): (a) February 1, 2020; 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 rate 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, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 28% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 28.00%
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Because the Class T Shares have not yet commenced operations, "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 growth of capital by investing at least 80% of its net assets in equity securities issued by non-U.S. small- or mid-capitalization companies. The Fund's investment adviser, Federated Global Investment Management Corp., ("the Adviser") seeks to invest in companies whose stock the Adviser perceives as undervalued relative to their assets or attractively priced relative to their growth prospects. The Fund may invest in companies from both developed and emerging market countries. The Fund may hedge its currency risk by using derivatives such as futures or forward contracts. The Fund may invest in depositary receipts, real estate investment trusts, exchange-traded funds, derivative contracts (such as options, swaps and futures contracts) and hybrid investments (such as notes linked to underlying securities or indices) in order to implement its investment strategy. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investment(s) underlying the derivative or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s), to obtain premiums from the sale of derivative contracts, or to realize gains from trading a derivative contract. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy, as described below, 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 small- or mid-capitalization companies. 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 small- or mid-capitalization companies. For purposes of this limitation, small- or mid-capitalization companies will normally be defined as companies with market capitalizations similar to the constituents of the Fund's benchmark, the MSCI ACWI ex USA SMID Cap Index. As of November 30, 2018, the capitalization of companies included in the MSCI ACWI ex USA SMID Cap Index ranged from approximately $7.7 million to $40.7 billion. Such definition will be applied at the time of investment and the Adviser will not be required to sell a stock because a company's market capitalization has grown larger than the range of small- or mid-capitalization stocks in the MSCI ACWI ex USA SMID Cap Index.
Risk [Heading] rr_RiskHeading <b>What are the Main 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:
  • Stock Market Risk. The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market. Among other factors, equity securities may decline in value because of an increase in interest rates or changes in the stock market. Recent and potential future changes in industry and/or economic trends, as well as changes in monetary policy made by central banks and/or their governments, also can affect the level of interest rates and contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects (such as a decline in a company's stock price), which could negatively impact the Fund's performance.
  • Real Estate Investment Trust Risk. Real estate investment trusts (REITs) carry risks associated with owning real estate, including the potential for a decline in value due to economic or market conditions.
  • Risk of Foreign Investing. The foreign markets in which the Fund invests may be subject to economic or political conditions which are less favorable than those of the United States and may lack financial reporting standards or regulatory requirements comparable to those applicable to U.S. companies.
  • Risk of Investing in Depositary Receipts and Domestically Traded Securities of Foreign Issuers. Because the Fund may invest in American Depositary Receipts and other domestically traded securities of foreign companies, whether in the United States or in foreign local markets, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.
  • Small-Cap Company Risk. The Fund may invest in small capitalization (or "small-cap") companies. Small-cap companies may have less liquid stock, a more volatile share price, unproven track records, a limited product or service base, and limited access to capital. The above factors could make small-cap companies more likely to fail than larger companies, and increase the volatility of the Fund's portfolio, performance and Share price.
  • Mid-Cap Company Risk. The Fund may invest in mid-capitalization (or "mid-cap") companies. Mid-cap companies often have narrower markets, limited managerial and financial resources, more volatile performance and greater risk of failure, compared to larger, more established companies. These factors could increase the volatility of the Fund's portfolio, performance and Share price.
  • Currency Risk. Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience increase volatility with respect to the value of its Shares and its returns as a result of its exposure to foreign currencies through direct holding of such currencies or holding of non-U.S. dollar denominated securities.
  • Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivative contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries.
  • Risk of Investing in Emerging Market Countries. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies.
  • Greater China Risk. Although larger and/or more established than many emerging markets, the markets of the Greater China region function in many ways as emerging markets, and carry the high levels of risks associated with emerging markets. Direct investments in, or indirect exposure to, the Greater China region may be subject to the risks associated with trading on less-developed trading markets, in addition to acute political risks such as possible negative repercussions resulting from China's relationship with Taiwan or Hong Kong, restrictions on monetary repatriation, or other adverse government actions. As export-driven economies, the economies of countries in the Greater China region are affected by developments in the economies of their principal trading partners.
  • Sector Risk. Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector.
  • Investment Style Risk. The Fund may employ a combination of styles that impact its risk characteristics, such as growth and value investing. Due to the Fund's style of investing, the Fund's Share price may lag that of other funds using a different investment style.
  • Liquidity Risk. Trading opportunities are more limited for equity securities that are not widely held. This may make it more difficult to sell or buy a security at a favorable price or time. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to.
  • Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets.
  • Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.
  • Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus such as stock market, credit, currency, liquidity and leverage risks.
  • Counterparty Credit Risk. Credit risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.
  • Leverage Risk. Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. Investments can have these same results if their returns are based on a multiple of a specified index, security or other benchmark.
  • Risk Related to the Economy.  The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets.  Economic, political and financial conditions, or industry or economic trends and developments, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.
  • Technology Risk. The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.
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.
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 [Text] rr_RiskNotInsured 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 <br/><br/>Risk/Return Bar Chart </b>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and performance table below reflect historical performance data for the Fund. The Fund's Class T Shares ("T class") has not yet commenced operations. The Fund currently offers four other classes of shares: Class A Shares ("A class"), Class B Shares, Class C Shares and Institutional Shares. The T class performance information shown below is for the Fund's A class and has not been adjusted since the T class is expected to have the same net expense ratio as the A class.

The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns averaged over the stated periods, and includes comparative performance information. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and performance table below reflect historical performance data for the Fund.<br/><br/>The bar chart and performance table below are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's T class total returns on a calendar year-by-year basis.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-800-341-7400
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress FederatedInvestors.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Federated International Small-Mid Company Fund - T Class
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower.

Within the periods shown in the bar chart, the Fund's T class highest quarterly return was 28.60% (quarter ended June 30, 2009). Its lowest quarterly return was (25.82)% (quarter ended September 30, 2011).
Performance Table Heading rr_PerformanceTableHeading <b>Average Annual Total Return Table</b>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical <b>federal</b> income and capital gains tax rates. These after-tax returns do <b>not</b> reflect the effect of any applicable <b>state</b> and <b>local</b> taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The Fund's T class has not yet commenced operations. The T class performance information shown below is for the Fund's A class as described above.

In addition to Return Before Taxes, Return After Taxes is shown for the Fund's T class to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as a 401(k) plan, an Individual Retirement Account (IRA) or other tax-advantaged investment plan.

(For the Period Ended December 31, 2018)
Class T Shares | Federated International Small-Mid Company Fund | T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
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 2.00%
Exchange Fee rr_ExchangeFeeOverRedemption none
Management Fee rr_ManagementFeesOverAssets 1.25%
Distribution (12b-1) Fee rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.76% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.01%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.14%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 1.87%
1 Year rr_ExpenseExampleYear01 $ 449
3 Years rr_ExpenseExampleYear03 865
5 Years rr_ExpenseExampleYear05 1,306
10 Years rr_ExpenseExampleYear10 $ 2,529
2009 rr_AnnualReturn2009 47.07%
2010 rr_AnnualReturn2010 21.44%
2011 rr_AnnualReturn2011 (17.53%)
2012 rr_AnnualReturn2012 22.01%
2013 rr_AnnualReturn2013 28.08%
2014 rr_AnnualReturn2014 (9.34%)
2015 rr_AnnualReturn2015 9.65%
2016 rr_AnnualReturn2016 (8.31%)
2017 rr_AnnualReturn2017 34.70%
2018 rr_AnnualReturn2018 (18.85%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 28.60%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest quarterly return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.82%)
1 Year rr_AverageAnnualReturnYear01 (23.31%)
5 Years rr_AverageAnnualReturnYear05 (1.20%)
10 Years rr_AverageAnnualReturnYear10 8.04%
Class T Shares | Federated International Small-Mid Company Fund | Return After Taxes on Distributions | T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (25.92%)
5 Years rr_AverageAnnualReturnYear05 (3.18%)
10 Years rr_AverageAnnualReturnYear10 6.65%
Class T Shares | Federated International Small-Mid Company Fund | Return After Taxes on Distributions and Sale of Fund Shares | T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (12.20%)
5 Years rr_AverageAnnualReturnYear05 (0.91%)
10 Years rr_AverageAnnualReturnYear10 6.59%
Class T Shares | Federated International Small-Mid Company Fund | MSCI ACWI ex USA SMID Cap Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (17.06%) [3]
5 Years rr_AverageAnnualReturnYear05 1.75% [3]
10 Years rr_AverageAnnualReturnYear10 8.84% [3]
[1] Because the Class T Shares have not yet commenced operations, “Other Expenses” are based on estimated amounts for the current fiscal year.
[2] The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, tax reclaim recovery expenses, interest expense, extraordinary expenses, and proxy-related expenses paid by the Fund, if any) paid by the Fund’s T class (after the voluntary waivers and/or reimbursements) will not exceed 1.86% (the “Fee Limit”), up to but not including the later of (the “Termination Date”): (a) February 1, 2020; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund’s Board of Directors.
[3] The MSCI ACWI ex USA SMID Cap Index captures mid- and small-cap representation across developed market countries (excluding the U.S.) and emerging markets countries. The index covers approximately 28% of the free float-adjusted market capitalization in each country.
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Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FEDERATED WORLD INVESTMENT SERIES INC
Prospectus Date rr_ProspectusDate Jan. 31, 2019
Document Creation Date dei_DocumentCreationDate Jan. 28, 2019
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