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Monday, March 16, 2009

Federated Unveils Three Clovers

by: Armie Margaret Lee

Three months after it closed on its acquisition of Clover Capital, Federated Investors rolled out three Federated Clover Value funds. Back in September, when Federated first announced the Clover deal, Federated executives said they planned to launch three value-oriented funds managed by the Clover Capital team.
Company Press Release

PITTSBURGH, March 16 /PRNewswire-FirstCall/ -- Federated Investors, Inc. (NYSE: FII), one of the nation's largest investment managers today announced the launch of three Federated Clover Value mutual funds. The Federated Clover Value Fund, Federated Clover Mid Value Fund and Federated Clover Small Value Fund are advised by Federated Clover Investment Advisors (Federated Clover) and extend the Federated Clover team's 24-year tradition of value investing across all market capitalizations.

The Federated Clover investment team utilizes a comprehensive and rigorous value-based investment process that employs fundamental research to manage its portfolios. Federated acquired the business of Rochester, N.Y.-based Clover Capital Management, Inc. (Clover) in December 2008, and now operates that business under the Federated Clover name.

"Value investing has a role in every diversified portfolio, and the Federated Clover funds provide investors with three compelling new options," said John B. Fisher, president and CEO of Federated's advisory companies. "For more than two decades, the Federated Clover team has focused on value investing -- and value investing only. Federated Clover's sector-specialist, team-driven process and bottom-up stock selection have provided competitive returns for the firm's strategies over time."

Federated Clover Value Fund invests primarily in established businesses, has the Russell 1000 Value Index as its primary benchmark and inherits a six-year performance record from an existing Clover Common Fund. The fund is managed by Matthew Kaufler and Paul Spindler, who bring 43 years of combined experience to the fund. Kaufler joined Clover in 1991, and Spindler joined Clover in 1988.

Federated Clover Mid Value Fund, which has the Russell Midcap Value Index as its benchmark, invests in companies that have passed the rigors of early development but which haven't yet reached their full potential. The fund inherits a six-year performance record from an existing Clover Common Fund and is managed by Michael Jones and Albert Yu. Jones founded Clover and continues to help guide development of Federated Clover's investment strategy while also maintaining a significant role in client communications. Yu joined Clover in 2003.

Federated Clover Small Value Fund emphasizes smaller firms believed to have excellent prospects and has the Russell 2000 Value Index as its benchmark. The fund is managed by Lawrence Creatura and Stephen Gutch. Creatura joined Clover in 1994, and Gutch joined Clover in 2003.

Federated will market all three funds through broker/dealers, banks and other financial intermediaries. Federated Clover Value Fund is available in A, B, C, IS and K share classes. Federated Clover Mid Value Fund and Federated Clover Small Value Fund are available in A, C and IS share classes.

Federated Investors, Inc. is one of the largest investment management firms in the United States, managing $407 billion in assets as of Dec. 31, 2008. With 158 funds and various separately managed accounts, Federated provides comprehensive investment management worldwide to nearly 5,400 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. 

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