PITTSBURGH, Nov. 19, 2010 /PRNewswire-FirstCall/ -- Federated Investors, Inc. , one of the nation's largest investment managers, announced the appointment of Douglas C. Noland, a veteran investment professional who serves as head of Federated's alternative equity management team, as senior portfolio manager for Federated Market Opportunity Fund. Noland, who oversees $3.6 billion in alternative assets for Federated, takes the place of Steven J. Lehman, who is no longer with the company. The announcement was made by Stephen F. Auth, chief investment officer for global equity.
"We see absolute return portfolios within mutual fund structures, such as the Federated Market Opportunity Fund, as an area of increasing interest to our clients," said Auth. "Adding an investment professional of Doug Noland's intellect and investment skills to the Market Opportunity team should give us a boost in our efforts to make this product competitive in both up and down markets."
Federated Market Opportunity Fund may invest in domestic and foreign securities (both debt and equities), commodities and currencies that are undervalued or out of favor in an effort to provide absolute returns with a low correlation to the United States equity market. It can also short securities in seeking to provide absolute return.
Noland will serve as senior portfolio manager focusing his efforts on making asset allocation and risk management decisions for the portfolio while portfolio manager Dana L. Meissner, who has served as a portfolio manager on the fund for nearly 2 years, focuses on the long stock picking. Federated's alternative equity management team, which includes 9 professionals under Noland's leadership, will provide research support for short positions in the fund, if and when such positions are initiated, as well as for commodities and currencies.
Noland also manages Federated Prudent Bear Fund, a short-biased equity fund that is managed to deliver a core defensive position in virtually any market environment, and Federated Prudent DollarBear Fund, an offering that provides strategic exposure to high quality, short duration foreign bonds, as well as precious metals and mining stocks. He has worked on the Prudent Bear funds in various capacities for more than 10 years and has more than 20 years of fund-management experience. Noland earned his undergraduate degree in accounting and finance from the University of Oregon and earned a master's of business administration from Indiana University.
Meissner has served as a portfolio manager and investment analyst for more than 10 years and previously worked in engineering. He holds a bachelor's of science and a master's of science from the University of Toledo as well as a master's of science in industrial administration from Carnegie Mellon University.
Federated Market Opportunity Fund is managed by Federated Equity Management Company of Pennsylvania, a wholly owned subsidiary of Federated Investors, Inc.
Federated Investors, Inc. is one of the largest investment managers in the United States, managing $341.3 billion in assets as of Sept. 30, 2010. With 134 funds and a variety of separately managed account options, Federated provides comprehensive investment management to approximately 5,200 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.
Federated Securities Corp. is distributor of the Federated funds.
Separately managed accounts are made available through Federated Global Investment Management Corp., Federated Investment Counseling and Federated MDTA LLC, each a registered investment advisor.
Certain statements in this press release, such as those related to the ability of the new portfolio manager to improve the Federated Market Opportunity Fund's competitiveness, constitute or may 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, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Other risks and uncertainties include the ability of the new portfolio manager to implement changes that will improve the Fund's competitiveness. Other risks and uncertainties also include the possibility that acquisitions do not close within anticipated timeframes, and also include the risk factors discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission. 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 Investors, Inc.
CONTACT: Media: Meghan McAndrew, +1-412-288-8103 or J.T. Tuskan,
+1-412-288-7895 or Analysts: Ray Hanley, +1-412-288-1920
Web Site: http://federatedinvestors.com/
