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Rating:Federated Finishes Acquisition of a CB Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, May 12, 2008

Federated Finishes Acquisition of a CB Fund

by: Armie Margaret Lee

Federated Investors has wrapped up the acquisition of Central Bank and Trust Company's CB Core Equity Fund. Federated reorganized the fund's $42 million of assets into its Federated Capital Appreciation Fund.

The transaction marks the 11th acquisition of stock or bond assets by Federated in the last five years.

Company Press Release

Pittsburgh, Pa., May 12, 2008) -- Federated Investors, Inc. (NYSE: FII), one of the nation’s largest investment managers, and Central Bank & Trust Co. of Lexington, Ky., announced the completion of the reorganization of approximately $42 million in mutual fund assets from CB Core Equity Fund into Federated Capital Appreciation Fund (CPAIX).

“The CB Core Equity Fund transaction enables Federated to grow managed assets by leveraging our quality product line and reputation for outstanding customer service,” said J. Christopher Donahue, president and CEO of Federated Investors, Inc.

The CB Core Equity Fund’s shareholders approved the transition of approximately $42 million into Federated Capital Appreciation Fund at a meeting on May 7, 2008. The transaction represents Federated’s 11th acquisition of stock or bond assets in the last five years.

“Federated’s strong investment management heritage and dedication to serving their customers will provide the CB Core Equity Fund shareholders a home in a larger and more diverse family of mutual funds,” said Barry Hickey of Central Bank & Trust Co. Central Bank & Trust Co. is a subsidiary of Central Bancshares Inc., which currently operates a total of 27 full-service banking centers, 34 ATMs, two mortgage offices, an insurance agency and an investment office in Bath, Boone, Clark, Fayette, Jefferson, Jessamine, Kenton, Madison, and Scott counties in Kentucky. As of March 31, 2008, Central Bancshares’ total assets were $1.786 billion.

Federated Investors, Inc. is one of the largest investment managers in the United States, managing $338.5 billion in assets as of March 31, 2008. With 147 mutual funds and various separately managed account options, Federated provides comprehensive investment management to more than 5,400 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com. ###  

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