Founded in 1955, Federated Investors has been publicly traded on the NYSE since May 14, 1998. It remains under the control of the Donahue family.
Federated's initial funds focused in fixed income.
It launched its first money market fund in 1974 and by the 1990s was known for its ability to provide private label money funds for banks.
After its IPO, Federated embarked on a strategy of aquisition to build a broader capability to manage funds across the asset class spectrum. Its nine acquisitions includes the adoption of the high-profile Kaufmann Fund.
Acquisitions
Acquired the William Penn Funds with $550 million managed assets in 1995.
Acquired Investment Advisers, Inc. with $346 million managed assets in 2000.
In 2001 it adopted the $3.2 billion Kaufmann Fund, rolling it into the Federated Kaufmann Fund. It expanded the Kaufmann brand in 2008 with the launch of Federated Kaufmann Large Cap Fund. It also acquired the Rightime Funds ($148 million managed assets) and rolled them into the Federated Capital Appreciation Fund.
Federated absorbed the FirstMerit Funds ($250 million) into Federated Capital Appreciation Fund and Federated Automated government Cash Reserves in 2002.
Acquired assets from four Banknorth Investment Advisors funds in 2004.
It acquired MDT Advisers in 2006.
In 2007 it adopted the $366 million of mutual fund assets through the Rochdale Atlas Portfolio and opened the Federated InterContinental Fund.
In 2008 it aquired the two Prudent Funds from David W. Tice & Associates [profile] and Clover Capital Management in 2008.
On July 16, 2010, Federated unveiled a deal to buy SunTrust Bank's money market management business, which has total assets of $17 billion. The transaction, which is expected to close by yearend, includes upfront cash payments that could reach $8.75 million. The deal also includes contingent payments that could total about $30 million over the next five years.
A week later, Federated completed the reorganization of the $1.6 billion Hilliard-Lyons Government Fund into the Federated Government Cash Series money market fund.
Other
Standard & Poor's added Federated's stock to its S&P 500 in 2003.
Sponsored Opportunities
Key People:
J. Christopher Donahue CEO, President, Federated Investors
Thomas R. Donahue President, FII Holdings, Chief Financial Officer and Treasurer, Federated Investors, Inc.
Thomas E. Territ President, Federated Securities Corp., Federated Investors, Inc.
John W. McGonigle Vice Chairman, Executive Vice President, Chief Legal Officer and Secretary, Federated Investors
John B. Fisher President and CEO, Federated Advisory Companies, Federated Investors, Inc.
Gordon J. Ceresino President, Federated International Management Limited, Federated
Eugene F. Maloney Executive Vice President, Federated Investors
Brian P. Bouda Vice President and Chief Compliance Officer, FEDERATED INVESTMENT MANAGEMENT COMPANY
Richard B. Fisher Vice Chairman and Co-Founder, Federated Investors, Inc.
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