PITTSBURGH, Aug. 18 /PRNewswire-FirstCall/ -- Federated Investors, Inc. , one of the nation's largest investment managers, today announced portfolio management appointments for three equity mutual funds. Curtis R. Gross, CFA, and Michael R. Tucker were named portfolio managers of Federated Large Cap Growth Fund, which seeks capital appreciation through stocks of well-established, large-cap U.S. traded growth companies. Igor Golalic, CFA, was named a portfolio manager of Federated American Leaders Fund, Inc. and Federated American Leaders Fund II, funds investing in high quality, large- capitalization stocks that appear to be temporarily undervalued. The announcement was made by Stephen F. Auth, executive vice president and chief investment officer of the firm's global equity investment management division.
Gross and Tucker will serve as co-managers of Federated Large Cap Growth Fund. Gross has 18 years of investment experience and most recently served as director of global equity research at Federated. Prior to joining the firm in 2003, he held senior analyst positions at National City Bank and Northern Capital Management, where he also served as a portfolio manager. Gross earned a bachelor's degree in economics from Cornell University and a master's in business administration from the University of Pittsburgh. Tucker, who is also portfolio manager of Federated Technology Fund, has 13 years of investment experience. Prior to this role, Tucker was a research assistant at Federated and then later a senior investment analyst concentrating on the technology sector. He received a bachelor's degree in industrial management and economics as well as a master's degree in industrial administration from Carnegie Mellon University.
Phillip J. Orlando, CFA, who had managed Federated Large Cap Growth Fund since joining Federated in 2003, will use his 26 years of investment experience in his new role as equity market strategist and lead the team responsible for the balanced funds, quantitative research, and developing and articulating Federated's views about the equity market.
"The research background that both Curt and Mike bring to this fund will be advantageous as they work collaboratively to identify opportunities based on valuation fundamentals and strive to take investment performance to the next level," Auth said.
Golalic replaces William C. Dierker, CFA, who will be leaving the firm. Golalic served as an associate portfolio manager as well as a senior investment analyst on the American Leaders funds for the last two years. Golalic will manage Federated American Leaders Fund and Federated American Leaders Fund II with Senior Portfolio Manager Kevin R. McCloskey, CFA, who has been involved with the funds' management since 2001. McCloskey will continue to run Federated Stock Trust, a large-cap value fund designed for institutional investors.
"Igor is a unique investment talent in whom we have great confidence," Auth said. "His familiarity with the American Leaders funds coupled with Kevin's investment experience in the large-cap value area will make for a smooth management transition as we look to enhance investment results."
Prior to joining Federated in 2003, Golalic worked as a senior securities analyst for the State Teachers Retirement System of Ohio, where he was responsible for research for $1 billion in emerging market fund assets. Golalic earned a bachelor's degree in business administration and philosophy from Lewis and Clark College and a master's degree in business administration in investment management from The Ohio State University.
Federated Investors, Inc. is one of the largest investment managers in the United States, managing more than $210 billion in assets as of June 30, 2006. With 143 mutual funds as well as a variety of separately managed account options, Federated provides comprehensive investment management to nearly 5,500 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers.
Past performance is no guarantee of future results. For current fund performance, visit http://federatedinvestors.com/.
Mutual funds are subject to risks and fluctuate in value.
For more complete information on Federated funds, please visit http://federatedinvestors.com/ for prospectuses. Investors should consider the fund's investment objectives, risks, charges and expenses carefully before investing. Information about these and other important subjects is in the fund's prospectus, which should be read carefully before investing.
Certain statements in this press release, such as those related to management transition and investment performance, constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the company to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Among other risks and uncertainties is the ability of the company to successfully transition fund management and achieve investment performance objectives, and the risk factors discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission. Certain of these factors may be impacted as a result of the ongoing threat of terrorism. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.
Federated Securities Corp. is distributor of the Federated funds.
Separately managed accounts are made available through Federated Investment Counseling, a registered investment advisor, and MDT Advisers, a registered investment adviser.
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