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Thursday, October 04, 2012

Federated Goes to London

Reported by Tommy Fernandez

Federated Investors, Inc. [profile], it has reached an agreement with the London-based investment marketing and distribution firm Bury Street Capital to distribute Federated's products in Europe.

Bury Street Capital will focus on European distribution of existing and new Federated UCITS products, which have a focus on income strategies.

Under the agreement, Bury Street Capital will market and distribute three fixed-income strategies with new share classes that are expected to launch in the fourth quarter, subject to approval by the Central Bank of Ireland: Federated Emerging Markets Global Debt Fund, Federated U.S. Total Return Bond Fund and Federated High Income Advantage Fund. All three fixed-income UCITS funds will offer share classes denominated in U.S. dollars, pounds sterling and euro. In addition, Bury Street Capital will market and distribute the Federated Strategic Value Equity Fund.


Company Press Release

Federated Investors, Inc. to Expand European Distribution through Agreement with London-based Bury Street Capital

(PITTSBURGH, Pa., October 03, 2012) — Federated Investors, Inc. (NYSE: FII), one of the largest investment managers in the United States, announced that it has reached an agreement with Bury Street Capital, a London-based investment marketing and distribution firm whose clients include leading global pension funds and wealth managers throughout Europe. Bury Street Capital will focus on European distribution of existing and new Federated UCITS products, which have a focus on income strategies.

The agreement will complement and expand Federated’s current distribution capabilities in Europe. It opens new markets by leveraging Bury Street Capital’s Pan-European distribution experience, with the goal of expanding Federated’s UCITS managed assets. Bury Street has worked with a number of well-known fund management companies, helping them increase their profile in the rapidly growing UCITS market, which now accounts for approximately $7.5 trillion in assets. The UCITS market also is expected to continue growing significantly, as pension systems in the European Union transition from defined-benefit to defined-contribution plans.

Under the agreement, Bury Street Capital will market and distribute three fixed-income strategies with new share classes that are expected to launch in the fourth quarter, subject to approval by the Central Bank of Ireland: Federated Emerging Markets Global Debt Fund, Federated U.S. Total Return Bond Fund and Federated High Income Advantage Fund. All three fixed-income UCITS funds will offer share classes denominated in U.S. dollars, pounds sterling and euro. In addition, Bury Street Capital will market and distribute the Federated Strategic Value Equity Fund, a U.S. dollar-denominated dividend UCITS fund available in multiple share classes.

“The distribution agreement with Bury Street Capital is another step in growing Federated’s global presence,” said Gordon J. Ceresino, president of Federated International Management Limited. “The Bury Street agreement follows significant global initiatives for our firm in 2012, including the April acquisition of London-based Prime Rate Capital Management LLP, a U.K.-based provider of institutional liquidity and fixed-income products, and the August announcement of our new Asia-Pacific subsidiary based in Melbourne, Australia.”

Federated’s global business operations date to 1991, when Federated established Federated International Management Limited, a wholly owned subsidiary in Dublin regulated by the Central Bank of Ireland, becoming the first U.S. company whose registered money market funds were approved for distribution to the European community. In 1998, Federated launched a venture with German insurer LVM-Versicherungen to offer Federated funds in Germany and other German-speaking countries.

“Bury Street Capital is delighted to have been appointed as Pan-European UCITS distributor for Federated Investors,” said Robert Drake, managing director of Bury Street Capital. “Federated's broad range of equity and fixed-income products are ideally suited to the UCITS market and Bury Street Capital's distribution capabilities.” Federated Investors, Inc. is one of the largest investment managers in the United States, managing $355.9 billion in assets as of June 30, 2012. With 138 funds and a variety of separately managed account options, Federated provides comprehensive investment management worldwide to approximately 4,700 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers.  

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