MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, November 4, 2002 Federated Opens Institutional Fund Federated Investors has taken the wraps off a new high-yield bond fund for the institutional market. The Federated Institutional High Yield Bond Fund is benchmarked to the Lehman Brothers High Yield Bond Index and requires a minimum initial investment of $1 million. It will also feature a two percent redemption fee will be paid to the fund for all shares redeemed or exchanged within 90 days of purchase. The redemption fee was added to create a more stable shareholder base, explained the firm. Federated added that the fund will offer a 50 basis point target expense ratio after expense waivers. "We believe this product leverages the expertise of one of the most knowledgeable high-yield teams in the industry and demonstrates Federated's commitment to providing investment products that effectively meet the high standards of the institutional investment community," said William D. Dawson III, CIO of Global Fixed Income. Mark E. Durbiano, senior portfolio manager and Nathan H. Kehm, portfolio manager will lead the portfolio management team. Printed from: MFWire.com/story.asp?s=3907 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |