Switch for Golden Oaks
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Tuesday, June 18, 2002

Switch for Golden Oaks

The Golden Oaks fund group, a unit of Citizens, has tapped Federated Investors to be its fund service provider, Peggy Donahue, vice president of marketing for mutual fund services at the latter, told the The deal is expected to be completed on August 23.

"We will be offering them marketing, distribution, transfer agency, and portfolio accounting," Donahue reported. "Golden Oaks is focused on internal distribution, selling through internal channels. So we are customizing a marketing approach for those channels."

Further, Federated is creating a website for the fund family. It is also redesigning the funds' core materials such as statements and educational materials. "We will also help in maintaining their relationships with shareholders and prospective shareholders," the executive stated.

"We also provide our clients with legal and regulatory advice. We have a strong 1940 Act team, and every client has an attorney assigned to them. We do not contract out on that," she contended.

Currently, Federated is working with Golden Oaks on creating a business plan and a marketing plan. The firm is also working through conversion issues. The previous administrator for Golden Oaks was SEI.

Federated also works with Dan Sondhelm at SunStar in getting its clients media exposure. "With advertising budgets being limited, there are a lot of advantages to finding other ways of getting the word out," Donahue concluded.

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