Pittsburgh, Pennsylvania-based Federated Investors is adding another fund to its 134-fund lineup for investors looking for income. The new Federated Strategic Value Fund will pay a monthly dividend. "[The fund] broadens the number of income-oriented funds in Federated’s product line," stated Keith M. Schappert, president and chief executive officer of Federated’s investment advisory business.

Managers of the Federated Strategic Value Fund will seek to invest in dividend-paying stocks with low correlation to the S&P 500. The fund will be benchmarked against the Russell Midcap Value Index.

Operating expenses before waiver are 201 basis points for Class A shares and 251 basis points for Class C shares, according to the fund's prospectus.

Walter C. Bean, senior vice president, senior portfolio manager and director of investments for managed accounts; and John L. Nichol, senior vice president and portfolio manager, will co-manage the fund.  

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