Thursday, February 8, 2007
Federated Investors launches hybrid fund
Pittsburgh Business Times - by Patty Tascarella
Federated Investors Inc. has launched Federated Stock and California Muni Fund.
A hybrid fund for California investors, its investments will be allocated primarily between dividend-paying stocks intended to qualify for the reduced federal income tax rate and California tax-exempt municipal securities. At least half of its assets will always be invested in California tax-exempt municipal securities.
Pittsburgh-based Federated Investors (NYSE:FII) is one of the largest investment management firms in the United States, managing approximately $237 billion in assets as of Dec. 31, 2006.
ptascarella@bizjournals.com | (412) 208-3832
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