PITTSBURGH, July 28, 2015 /PRNewswire/ -- Federated
Investors, Inc. (NYSE: FII), one of the nation's largest investment
managers, today completed the transition of shareholder assets from
Reich & Tang's domestic and offshore money market funds. In
connection with the transition, approximately $4 billion in shareholder accounts from six Reich
& Tang money market funds were transitioned into Federated
funds with similar investment strategies.
With approximately $242 billion in
money market assets under management as of June 30, 2015, Federated offers a variety of
prime, government, municipal and non-U.S. liquidity management
products. Federated is among the top 3 percent1 of money
market managers and has been an industry leader in liquidity
management for more than 40 years and offers a highly defined
process of portfolio construction, intense credit review and
experienced investment professionals.
"Our history of completing these types of transactions and our
wide range of liquidity management products make Federated an ideal
home for these money market assets," said Joe Machi, director of alliances at Federated.
"We continue to assess acquisition and alliance opportunities with
asset managers, banks, insurance companies and broker/dealers in
the United States and around the
world."
Federated Investors, Inc. is one of the largest investment
managers in the United States,
managing $349.7 billion in assets as
of June 30, 2015. With 130 funds and a variety of separately
managed account options, Federated provides comprehensive
investment management to more than 7,900 institutions and
intermediaries including corporations, government entities,
insurance companies, foundations and endowments, banks and
broker/dealers. For more information, visit
FederatedInvestors.com.
1) Strategic Insight, May 31,
2015. Based on assets under management in open-end
funds.
Certain statements in this press release, such as those related
to Federated's efforts to seek alliance and acquisition
opportunities, constitute forward-looking statements, which involve
known and unknown risks, uncertainties and other factors that may
cause the actual results, levels of activity, performance or
achievements of the company or industry results to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied by such forward-looking
statements. Among other risks and uncertainties is the ability of
Federated to identify and complete suitable acquisitions, and the
risk factors discussed in the company's annual and quarterly
reports as filed with the Securities and Exchange Commission. As a
result, no assurance can be given as to future results, levels of
activity, performance or achievements, and neither the company nor
any other person assumes responsibility for the accuracy and
completeness of such statements in the future.
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SOURCE Federated Investors, Inc.