With the completion of its most recent M&A move, Federated Investors has eight new equity mutual funds on offer.

The Pittsburgh-based investment management company announced Monday that its deal to purchase MDT Advisers, a quantitative equity management firm, has closed. Made public in May, the acquisition of Cambridge, Massachusetts-based MDT -- which has about $6.7 billion in assets under management -- cost Federated roughly $110 million in initial payments plus up to $130 million more over the next three years.  

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