As The MFWire.com reported in November,
Federated Investors is launching a new European fund family. The company has entered into a joint venture with
LVM - Versicherungen, a German insurance company. The venture will be headquartered in Frankfurt, and will contain funds managed by Federated and marketed by LVM agencies throughout German-speaking countries.
The new family, called
LVM Funds, is overseen by Federated's Larry Caracciolo. It consists of six funds; a Euro equity fund, a Euro balance fund, a money market fund, a high yield fund, a quality bond fund and an institutional money market. The funds will be managed out of Federated's New York and Pittsburgh offices.
This is the latest move in Federated's continuing attempt to bolster its international business. Once the new family is established, Federated "will be looking pretty hard at further expansion later in the year," says Chris Donahue, CEO of Federated Investors.
Federated's overseas strategy began in 1984, when the company launched its first international funds, continued in 1990 when Federated International Management opened in Dublin, and proceeded in 1995 when Federated opened its international/global investment unit in New York City. Today, Federated manages almost $8 billion in offshore assets, which includes about $1 billion in assets for LVM.
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