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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cma Treasury Fund (MM) | NASDAQ:CMTXX | NASDAQ | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
1933 Act File No. | 2-91090 |
1940 Act File No. | 811-4017 |
Form N-1A
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | ||||
Pre-Effective Amendment No. | ||||
Post-Effective Amendment No. | 148 | |||
and/or | ||||
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | ||||
Amendment No. | 142 | |||
FEDERATED EQUITY FUNDS
(Exact Name of Registrant as Specified in Charter)
Federated Investors Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant’s Telephone Number, including Area Code)
John W. McGonigle, Esquire
Federated Investors Tower
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)
It is proposed that this filing will become effective (check appropriate box): | |||
immediately upon filing pursuant to paragraph (b) | |||
on | pursuant to paragraph (b) | ||
60 days after filing pursuant to paragraph (a)(1) | |||
X | on | April 28, 2014 | pursuant to paragraph (a)(1) |
75 days after filing pursuant to paragraph (a)(2) | |||
on | pursuant to paragraph (a)(2) of Rule 485 | ||
If appropriate, check the following box: | |||
This post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
Share Class | Ticker |
Institutional | FGLEX |
1 | The Adviser and its affiliates have voluntarily agreed to waive their fees and/or reimburse expenses so that the total annual fund operating expenses (excluding Acquired Fund Fees and Expenses, extraordinary expenses and proxy-related expenses paid by the Fund, if any) paid by the Fund's IS class (after the voluntary waivers and/or reimbursements) will not exceed 1.15% (the “Fee Limit”), up to but not including the later of (the “Termination Date”): (a) February 1, 2015; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the agreement of the Fund's Board of Trustees. |
1 Year | $ 282 |
3 Years | $ 865 |
5 Years | $1,474 |
10 Years | $3,119 |
■ | Stock Market Risk. The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's Share price may decline suddenly or over a sustained period of time. Information publicly available about a company, whether from the company's financial statements or other disclosures or from third parties, or information available to some but not all market participants, can affect the price of a company's shares in the market. |
■ | Risk of Foreign Investing. Because the Fund invests in securities issued by foreign companies, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case. |
■ | Risk of Investing in ADRs and Domestically Traded Securities of Foreign Issuers. Because the Fund may invest in American Depositary Receipts (ADRs) and other domestically traded securities of foreign companies, the Fund's Share price may be more affected by the risks of foreign investing. |
■ | Currency Risk. Exchange rates for currencies fluctuate daily. Accordingly, the Fund may experience increased volatility with respect to the value of its Shares and its returns as a result of its exposure to foreign currencies through direct holdings of such currencies or holdings of non-U.S. dollar denominated securities. |
■ | Eurozone Related Risk. A number of countries in the European Union (EU) have experienced, and may continue to experience, severe economic and financial difficulties. Additional EU member countries may also fall subject to such difficulties. These events could negatively affect the value and liquidity of the Fund's investments in euro-denominated securities and derivatives contracts, securities of issuers located in the EU or with significant exposure to EU issuers or countries. |
■ | Emerging Markets Risk. Securities issued or traded in emerging markets generally entail greater risks than securities issued or traded in developed markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies. |
■ | Liquidity Risk. The securities in which the Fund invests may be less readily marketable and may be subject to greater fluctuation in price than other securities. |
■ | Risk Related to Company Capitalization. The Fund may invest in companies with market capitalizations of any size, including small-capitalization and mid-capitalization (or “small-cap” and “ mid-cap”) companies. The additional risks posed by small-cap and mid-cap companies could increase the volatility of the Fund's portfolio and performance. Shareholders should expect that the value of the Fund's Shares will be more volatile than a fund that invests exclusively in large-cap companies. |
■ | Sector Risk. Companies with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the possibility that a certain sector may underperform other sectors or the market as a whole. As the Adviser allocates more of the Fund's portfolio holdings to a particular sector, the Fund's performance will be more susceptible to any economic, business or other developments which generally affect that sector. |
■ | Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus or the Fund's Statement of Additional Information (SAI), such as stock market, credit, currency, liquidity and leverage risks. |
■ | Issuer Credit Risk. It is possible that interest or principal on securities will not be paid when due. Such non-payment or default may reduce the value of the Fund's portfolio holdings, its share price and its performance. |
■ | Counterparty Credit Risk. Includes the possibility that a party to a transaction (such as a derivative transaction) involving the Fund will fail to meet its obligations. |
■ | Interest Rate Risk. Prices of fixed-income securities rise and fall in response to interest rate changes for similar securities. Generally, when interest rates rise, prices of fixed-income securities fall. Also, interest rate changes have a greater effect on the price of fixed-income securities with longer durations. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. |
■ | Risk Associated with Noninvestment-Grade Securities. The Fund may invest a portion of its assets in securities rated below investment grade that generally are subject to greater interest rate, credit and liquidity risks than investment-grade securities. |
■ | Risk Related to the Economy. Lower grade bond returns are sensitive to changes in the economy. The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the stock market based on negative developments in the U.S. and global economies. |
■ | Leverage Risk. Leverage risk is created when an investment (such as a derivative transaction) exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. |
■ | Custodial Services and Related Investment Cost. Custodial services and other costs relating to investment in international securities markets generally are more expensive due to differing settlement and clearance procedures than those of the United States. In addition, security settlement and clearance procedures in some emerging market countries may not fully protect the Fund against loss of its assets. |
■ | Exchange-Traded Funds Risk. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded). Investing in an ETF may incur additional fees and/or expenses which would, therefore, be borne indirectly by the Fund in connection with any such investment. |
■ | Technology Risk. The Adviser uses various technology in managing the Fund consistent with its investment objective and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance. |
1 Year |
Start of
Performance 1 |
|
IS: | ||
Return Before Taxes | 19.00% | 10.62% |
Return After Taxes on Distributions | 17.31% | 10.10% |
Return After Taxes on Distributions and Sale of Fund Shares | 11.40% | 8.27% |
Morgan Stanley Capital International All Country World Index
2
(reflects no deduction for fees, expenses or taxes) |
22.80% | 10.71% |
Morgan Stanley Capital International Emerging Markets Index
3
(reflects no deduction for fees, expenses or taxes) |
-2.60% | -0.93% |
1 | The Fund's IS class start of performance was December 3, 2010. |
2 | The MSCI ACWI captures large- and mid-cap representation across 23 developed markets countries and 21 emerging markets countries. With 2,436 constituents, the index covers approximately 85% of the global investable equity opportunity set. |
3 | The Fund's investment adviser has elected to change its broad-based securities market index from the Morgan Stanley Capital International All Country World Index to the Morgan Stanley Capital International Emerging Markets Index (“Emerging Markets Index”). The Emerging Markets Index is more representative of the securities in which the Fund invests. The Emerging Markets Index captures large- and mid-cap representation across 21 Emerging Markets (EM) countries. With 824 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country. As of November 2013, the MSCI Emerging Markets Index consisted of the following country indices: Brazil, Chile, Colombia, Mexico, Peru, Czech Republic, Egypt, Greece, Hungary, Poland, Russia, South Africa, Turkey, China, India, Indonesia, Korea, Malaysia, Philippines, Taiwan and Thailand. |
■ | rising earnings expectations; |
■ | lower valuation relative to growth; |
■ | favorable economic environments; |
■ | strong sovereign and corporate quality; and |
■ | positive technical factors. |
■ | obtain premiums from the sale of derivative contracts; |
■ | realize gains from trading a derivative contract; or |
■ | hedge against potential losses. |
■ | it is organized under the laws of, or has a principal office located in, another country; |
■ | the principal trading market for its securities is in another country; or |
■ | it (directly or through its consolidated subsidiaries) derived in its most current fiscal year at least 50% of its total assets, capitalization, gross revenue or profit from goods produced, services performed or sales made in another country. |
■ | Equity securities listed on an exchange or traded through a regulated market system are valued at their last reported sale price or official closing price in their principal exchange or market. |
■ | Fixed-income securities acquired with remaining maturities greater than 60 days are fair valued using price evaluations provided by a pricing service approved by the Board of Trustees (“Board”). |
■ | Fixed-income securities acquired with remaining maturities of 60 days or less are valued at their cost (adjusted for the accretion of any discount or amortization of any premium). |
■ | Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and asked quotations. |
■ | Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Board. |
■ | With respect to securities traded principally in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures contracts; |
■ | Political or other developments affecting the economy or markets in which an issuer conducts its operations or its securities are traded; and |
■ | Announcements concerning matters such as acquisitions, recapitalizations or litigation developments or a natural disaster affecting the issuer's operations or regulatory changes or market developments affecting the issuer's industry. |
■ | An investor participating in a wrap program or other fee-based program sponsored by a financial intermediary; |
■ | An investor participating in a no-load network or platform sponsored by a financial intermediary where Federated has entered into an agreement with the intermediary; |
■ | A trustee/director, employee or former employee of the Fund, the Adviser, the Distributor and their affiliates; an immediate family member of these individuals or a trust, pension or profit-sharing plan for these individuals; |
■ | An employer-sponsored retirement plan; |
■ | A trust institution investing on behalf of its trust customers; |
■ | A Federated Fund; |
■ | An investor (including a natural person) who acquired the IS class of a Federated fund pursuant to the terms of an agreement and plan of reorganization which permits the investor to acquire such shares; and |
■ | In connection with an acquisition of an investment management or advisory business, or related investment services, products or assets, by Federated or its investment advisory subsidiaries, an investor (including a natural person) who: (1) becomes a client of an investment advisory subsidiary of Federated; or (2) is a shareholder or interest holder of a pooled investment vehicle or product that becomes advised or subadvised by a Federated investment advisory subsidiary as a result of such an acquisition other than as a result of a fund reorganization transaction pursuant to an agreement and plan of reorganization. |
■ | An investor, other than a natural person, purchasing the IS class directly from the Fund; and |
■ | In connection with an initial purchase of the IS class through an exchange, an investor (including a natural person) who owned the IS class of another Federated fund as of December 31, 2008. |
■ | Establish an account with the financial intermediary; and |
■ | Submit your purchase order to the financial intermediary before the end of regular trading on the NYSE (normally 4:00 p.m. Eastern time). |
■ | Establish your account with the Fund by submitting a completed New Account Form; and |
■ | Send your payment to the Fund by Federal Reserve wire or check. |
■ | ensure that the account registrations are identical; |
■ | meet any applicable minimum initial investment requirements; and |
■ | receive a prospectus for the fund into which you wish to exchange. |
■ | through a financial intermediary if you purchased Shares through a financial intermediary; or |
■ | directly from the Fund if you purchased Shares directly from the Fund. |
■ | Fund name and Share class, account number and account registration; |
■ | amount to be redeemed or exchanged; |
■ | signatures of all shareholders exactly as registered; and |
■ | if exchanging , the Fund name and Share class, account number and account registration into which you are exchanging. |
■ | your redemption will be sent to an address other than the address of record; |
■ | your redemption will be sent to an address of record that was changed within the last 30 days; |
■ | a redemption is payable to someone other than the shareholder(s) of record; or |
■ | transferring into another fund with a different shareholder registration. |
■ | An electronic transfer to your account at a financial institution that is an ACH member; or |
■ | Wire payment to your account at a domestic commercial bank that is a Federal Reserve System member. |
■ | to allow your purchase to clear (as discussed below); |
■ | during periods of market volatility; |
■ | when a shareholder's trade activity or amount adversely impacts the Fund's ability to manage its assets; or |
■ | during any period when the Federal Reserve wire or applicable Federal Reserve banks are closed, other than customary weekend and holiday closings. |
■ | when the NYSE is closed, other than customary weekend and holiday closings; |
■ | when trading on the NYSE is restricted, as determined by the SEC; or |
■ | in which an emergency exists, as determined by the SEC, so that disposal of the Fund's investments or determination of its NAV is not reasonably practicable. |
■ | ensure that the account registrations are identical; |
■ | meet any applicable minimum initial investment requirements; and |
■ | receive a prospectus for the fund into which you wish to exchange. |
Year Ended November 30, |
Period
Ended 11/30/2011 1 |
||
2013 | 2012 | ||
Net Asset Value, Beginning of Period | $11.05 | $9.67 | $10.00 |
Income From Investment Operations: | |||
Net investment income | 0.15 | 0.14 | 0.12 |
Net realized and unrealized gain (loss) on investments, futures contracts and foreign currency transactions | 2.24 | 1.27 | (0.43) |
TOTAL FROM INVESTMENT OPERATIONS | 2.39 | 1.41 | (0.31) |
Less Distributions: | |||
Distributions from net investment income | (0.13) | (0.03) | (0.02) |
Distributions from net realized gain on investments | (0.01) | — | — |
TOTAL DISTRIBUTIONS | (0.14) | (0.03) | (0.02) |
Net Asset Value, End of Period | $13.30 | $11.05 | $9.67 |
Total Return 2 | 21.81% | 14.69% | (3.09)% |
Ratios to Average Net Assets: | |||
Net expenses | 1.15% | 1.15% | 1.15% 3 |
Net investment income | 1.22% | 1.31% | 1.14% 3 |
Expense waiver/reimbursement 4 | 1.63% | 2.99% | 3.13% 3 |
Supplemental Data: | |||
Net assets, end of period (000 omitted) | $13,638 | $11,155 | $9,695 |
Portfolio turnover | 48% | 51% | 49% |
1 | Reflects operations for the period from December 3, 2010 (date of initial investment) to November 30, 2011. |
2 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
3 | Computed on an annualized basis. |
4 | This expense decrease is reflected in both the net expense and net investment income ratios shown above. |
FEDERATED GLOBAL EQUITY FUND - IS CLASS | |||||
ANNUAL EXPENSE RATIO: 2.79% | |||||
MAXIMUM FRONT-END SALES CHARGE: NONE | |||||
Year |
Hypothetical
Beginning Investment |
Hypothetical
Performance Earnings |
Investment
After Returns |
Hypothetical
Expenses |
Hypothetical
Ending Investment |
1 | $10,000.00 | $500.00 | $10,500.00 | $282.08 | $10,221.00 |
2 | $10,221.00 | $511.05 | $10,732.05 | $288.32 | $10,446.88 |
3 | $10,446.88 | $522.34 | $10,969.22 | $294.69 | $10,677.76 |
4 | $10,677.76 | $533.89 | $11,211.65 | $301.20 | $10,913.74 |
5 | $10,913.74 | $545.69 | $11,459.43 | $307.86 | $11,154.93 |
6 | $11,154.93 | $557.75 | $11,712.68 | $314.66 | $11,401.45 |
7 | $11,401.45 | $570.07 | $11,971.52 | $321.62 | $11,653.42 |
8 | $11,653.42 | $582.67 | $12,236.09 | $328.72 | $11,910.96 |
9 | $11,910.96 | $595.55 | $12,506.51 | $335.99 | $12,174.19 |
10 | $12,174.19 | $608.71 | $12,782.90 | $343.41 | $12,443.24 |
Cumulative | $5,527.72 | $3,118.55 |
Share Class | Ticker |
Institutional | FGLEX |
■ | Buy call options on a Reference Instrument in anticipation of an increase in the value of the Reference Instrument; and |
■ | Write call options on a Reference Instrument to generate income from premiums, and in anticipation of a decrease or only limited increase in the value of the Reference Instrument. If the Fund writes a call option on a Reference Instrument that it owns and that call option is exercised, the Fund foregoes any possible profit from an increase in the market price of the Reference Instrument over the exercise price plus the premium received. |
■ | Buy put options on a Reference Instrument in anticipation of a decrease in the value of the Reference Instrument; and |
■ | Write put options on a Reference Instrument to generate income from premiums, and in anticipation of an increase or only limited decrease in the value of the Reference Instrument. In writing puts, there is a risk that the Fund may be required to take delivery of the Reference Instrument when its current market price is lower than the exercise price. |
■ | Equity securities listed on a U.S. securities exchange or traded through the U.S. national market system are valued at their last reported sale price or official closing price in their principal exchange or market. If a price is not readily available, such equity securities are valued based upon the mean of closing bid and asked quotations from one or more dealers. |
■ | Other equity securities traded primarily in the United States are valued based upon the mean of closing bid and asked quotations from one or more dealers. |
■ | Equity securities traded primarily through securities exchanges and regulated market systems outside the United States are valued at their last reported sale price or official closing price in their principal exchange or market. These prices may be adjusted for significant events occurring after the closing of such exchanges or market systems as described below. If a price is not readily available, such equity securities are valued based upon the mean of closing bid and asked quotations from one or more dealers. |
■ | Fixed-income securities and repurchase agreements acquired with remaining maturities of greater than 60 days are fair valued using price evaluations provided by a pricing service approved by the Board. The methods used by pricing services to determine such price evaluations are described below. If a price evaluation is not readily available, such fixed-income securities are fair valued based upon price evaluations from one or more dealers. |
■ | Fixed-income securities and repurchase agreements acquired with remaining maturities of 60 days or less are valued at their amortized cost as described below, unless the issuer's creditworthiness is impaired or other factors indicate that amortized cost is not an accurate estimate of the investment's fair value, in which case it would be valued in the same manner as a longer-term security or repurchase agreement. |
■ | Futures contracts listed on exchanges are valued at their reported settlement price. Option contracts listed on exchanges are valued based upon the mean of closing bid and asked quotations reported by the exchange or from one or more futures commission merchants. |
■ | OTC derivative contracts are fair valued using price evaluations provided by various pricing services approved by the Board. The methods used by pricing services to determine such price evaluations are described below. If a price evaluation is not readily available, such derivative contracts are fair valued based upon price evaluations from one or more dealers or using a recognized pricing model for the contract. |
■ | Shares of other mutual funds are valued based upon their reported NAVs. The prospectuses for these mutual funds explain the circumstances under which they will use fair value pricing and the effects of using fair value pricing. |
■ | With respect to securities traded principally in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures contracts; |
■ | With respect to price evaluations of fixed-income securities determined before the close of regular trading on the NYSE, actions by the Federal Reserve Open Market Committee and other significant trends in U.S. fixed-income markets; |
■ | Political or other developments affecting the economy or markets in which an issuer conducts its operations or its securities are traded; and |
■ | Announcements concerning matters such as acquisitions, recapitalizations or litigation developments, or a natural disaster affecting the issuer's operations or regulatory changes or market developments affecting the issuer's industry. |
■ | Outstanding skills in disciplines deemed by the Independent Trustees to be particularly relevant to the role of Independent Trustee and to the Federated funds, including legal, accounting, business management, the financial industry generally and the investment industry particularly. |
■ | Desire and availability to serve for a substantial period of time, taking into account the Board's current mandatory retirement age of 73 years. |
■ | No conflicts which would interfere with qualifying as independent. |
■ | Appropriate interpersonal skills to work effectively with other Independent Trustees. |
■ | Understanding and appreciation of the important role occupied by Independent Trustees in the regulatory structure governing regulated investment companies. |
■ | Diversity of background. |
Name
Birth Date Positions Held with Trust Date Service Began |
Principal Occupation(s) for Past Five Years,
Other Directorships Held and Previous Position(s) |
Aggregate
Compensation From Fund (past fiscal year) |
Total Compensation
From Fund and Federated Fund Complex (past calendar year) |
John F. Donahue*
Birth Date: July 28, 1924 Trustee Began serving: April 1984 |
Principal Occupations:
Director or Trustee of the Federated Fund Complex; Chairman and Director, Federated Investors, Inc.; Chairman of the Federated Fund Complex's Executive Committee.
Previous Positions: Chairman of the Federated Fund Complex; Trustee, Federated Investment Management Company; Chairman and Director, Federated Investment Counseling. |
$0 | $0 |
J. Christopher Donahue*
Birth Date: April 11, 1949 President and Trustee Began serving: January 2000 |
Principal Occupations:
Principal Executive Officer and President of certain of the Funds in the Federated Fund Complex; Director or Trustee of the Funds in the Federated Fund Complex; President, Chief Executive
Officer and Director, Federated Investors, Inc.; Chairman and Trustee, Federated Investment Management Company; Trustee, Federated Investment Counseling; Chairman and Director, Federated Global Investment Management
Corp.; Chairman, Federated Equity Management Company of Pennsylvania and Passport Research, Ltd. (investment advisory subsidiary of Federated); Trustee, Federated Shareholder Services Company; Director, Federated
Services Company.
Previous Positions: President, Federated Investment Counseling; President and Chief Executive Officer, Federated Investment Management Company, Federated Global Investment Management Corp. and Passport Research, Ltd. |
$0 | $0 |
* | Family relationships and reasons for “interested” status: John F. Donahue is the father of J. Christopher Donahue; both are “interested” due to their beneficial ownership of shares of Federated Investors, Inc. and the positions they hold with Federated and its subsidiaries. |
Name
Birth Date Positions Held with Trust Date Service Began |
Principal Occupation(s) and Other Directorships Held for
Past Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation From Fund (past fiscal year) |
Total Compensation
From Fund and Federated Fund Complex (past calendar year) |
John T. Collins
Birth Date: January 24, 1947 Trustee Began serving: October 2013 |
Principal Occupations:
Director or Trustee of the Federated Fund Complex; Chairman and CEO, The Collins Group, Inc. (a private equity firm).
Other Directorships Held: Chairman Emeriti, Bentley University; Director, Sterling Suffolk Downs, Inc.; Former Director, National Association of Printers and Lithographers. Previous Positions: Director and Audit Committee Member, Bank of America Corp. Qualifications: Business management and director experience. |
$0 | $57,446.48 |
Maureen Lally-Green
Birth Date: July 5, 1949 Trustee Began serving: August 2009 |
Principal Occupations:
Director or Trustee of the Federated Fund Complex; Associate General Secretary and Director, Office for Church Relations, Diocese of Pittsburgh; Adjunct Professor of Law, Duquesne
University School of Law; Superior Court of Pennsylvania (service began 1998 and ended July 2009).
Other Directorships Held: Director, Consol Energy (service started June 2013); Director, Auberle (service ended December 2013); Member, Pennsylvania State Board of Education; Director, Saint Vincent College; Director, Ireland Institute of Pittsburgh (service ended December 2013); Director and Chair, UPMC Mercy Hospital; Regent, St. Vincent Seminary; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Saint Thomas More Society (service ended December 2013); Director, Our Campaign for the Church Alive!, Inc.; Director, Pennsylvania Bar Institute (2013-present); Director, Cardinal Wuerl North Catholic High School (2013-present). Previous Position: Professor of Law, Duquesne University School of Law, Pittsburgh (1983-1998). Qualifications: Legal and director experience. |
$82.81 | $235,168.73 |
Peter E. Madden
Birth Date: March 16, 1942 Trustee Began serving: November 1991 |
Principal Occupation:
Director or Trustee, and Chairman of the Board of Directors or Trustees, of the Federated Fund Complex.
Previous Positions: Representative, Commonwealth of Massachusetts General Court; President, Chief Operating Officer and Director, State Street Bank and Trust Company and State Street Corporation (retired); Director, VISA USA and VISA International; Chairman and Director, Massachusetts Bankers Association; Director, Depository Trust Corporation; Director, The Boston Stock Exchange. Qualifications: Business management, mutual fund services and director experience. |
$108.50 | $310,000 |
Charles F. Mansfield, Jr.
Birth Date: April 10, 1945 Trustee Began serving: January 1999 |
Principal Occupations:
Director or Trustee of the Federated Fund Complex; Management Consultant.
Previous Positions: Chief Executive Officer, PBTC International Bank; Partner, Arthur Young & Company (now Ernst & Young LLP); Chief Financial Officer of Retail Banking Sector, Chase Manhattan Bank; Senior Vice President, HSBC Bank USA (formerly Marine Midland Bank); Vice President, Citibank; Assistant Professor of Banking and Finance, Frank G. Zarb School of Business, Hofstra University; Executive Vice President DVC Group, Inc. (marketing, communications and technology). Qualifications: Banking, business management, education and director experience. |
$86.61 | $247,500 |
Name
Birth Date Positions Held with Trust Date Service Began |
Principal Occupation(s) and Other Directorships Held for
Past Five Years, Previous Position(s) and Qualifications |
Aggregate
Compensation From Fund (past fiscal year) |
Total Compensation
From Fund and Federated Fund Complex (past calendar year) |
Thomas M. O'Neill
Birth Date: June 14, 1951 Trustee Began serving: October 2006 |
Principal Occupations:
Director or Trustee, Vice Chairman of the Audit Committee of the Federated Fund Complex; Sole Proprietor, Navigator Management Company (investment and strategic consulting).
Other Directorships Held: Board of Overseers, Children's Hospital of Boston; Visiting Committee on Athletics, Harvard College; Board of Directors, Medicines for Humanity; Board of Directors, The Golisano Children's Museum of Naples, Florida. Previous Positions: Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); Director, Midway Pacific (lumber). Qualifications: Business management, mutual fund, director and investment experience. |
$86.61 | $247,500 |
P. Jerome Richey
Birth Date: February 23, 1949 Trustee Began serving: October 2013 |
Principal Occupations:
Director or Trustee of the Federated Fund Complex; General Counsel, University of Pittsburgh.
Other Directorships Held: Board Chairman, Epilepsy Foundation of Western Pennsylvania; Board Member, World Affairs Council of Pittsburgh. Previous Positions: Chief Legal Officer and Executive Vice President, CONSOL Energy Inc.; Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). Qualifications: Business management, legal and director experience. |
$0 | $57,531.57 |
John S. Walsh
Birth Date: November 28, 1957 Trustee Began serving: January 1999 |
Principal Occupations:
Director or Trustee, Chairman of the Audit Committee of the Federated Fund Complex; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and
Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc.
Previous Position: Vice President, Walsh & Kelly, Inc. Qualifications: Business management and director experience. |
$88.58 | $253,125 |
Name
Birth Date Address Positions Held with Trust Date Service Began |
Principal Occupation(s) and Previous Position(s) |
John W. McGonigle
Birth Date: October 26, 1938 EXECUTIVE VICE PRESIDENT AND SECRETARY Officer since: April 1984 |
Principal Occupations:
Executive Vice President and Secretary of the Federated Fund Complex; Vice Chairman, Executive Vice President, Secretary and Director, Federated Investors, Inc.
Previous Positions: Trustee, Federated Investment Management Company and Federated Investment Counseling; Director, Federated Global Investment Management Corp., Federated Services Company and Federated Securities Corp. |
** | Officers do not receive any compensation from the Fund. |
Board
Committee |
Committee
Members |
Committee Functions |
Meetings Held
During Last Fiscal Year |
Executive |
John F. Donahue
Peter E. Madden John S. Walsh |
In between meetings of the full Board, the Executive Committee generally may exercise all the powers of the full Board in the management and direction of the business and conduct of the affairs of the Trust in such manner as the Executive Committee shall deem to be in the best interests of the Trust. However, the Executive Committee cannot elect or remove Board members, increase or decrease the number of Trustees, elect or remove any Officer, declare dividends, issue shares or recommend to shareholders any action requiring shareholder approval. | One |
Audit |
Maureen Lally-Green
Charles F. Mansfield, Jr. Thomas M. O'Neill John S. Walsh |
The purposes of the Audit Committee are to oversee the accounting and financial reporting process of the Fund, the Fund's internal control over financial reporting and the quality, integrity and independent audit of the Fund's financial statements. The Committee also oversees or assists the Board with the oversight of compliance with legal requirements relating to those matters, approves the engagement and reviews the qualifications, independence and performance of the Fund's independent registered public accounting firm, acts as a liaison between the independent registered public accounting firm and the Board and reviews the Fund's internal audit function. | Seven |
Nominating |
John T. Collins
Maureen Lally-Green Peter E. Madden Charles F. Mansfield, Jr. Thomas M. O'Neill P. Jerome Richey John S. Walsh |
The Nominating Committee, whose members consist of all Independent Trustees, selects and nominates persons for election to the Fund's Board when vacancies occur. The Committee will consider candidates recommended by shareholders, Independent Trustees, officers or employees of any of the Fund's agents or service providers and counsel to the Fund. Any shareholder who desires to have an individual considered for nomination by the Committee must submit a recommendation in writing to the Secretary of the Fund, at the Fund's address appearing on the back cover of this SAI. The recommendation should include the name and address of both the shareholder and the candidate and detailed information concerning the candidate's qualifications and experience. In identifying and evaluating candidates for consideration, the Committee shall consider such factors as it deems appropriate. Those factors will ordinarily include: integrity, intelligence, collegiality, judgment, diversity, skill, business and other experience, qualification as an “Independent Trustee,” the existence of material relationships which may create the appearance of a lack of independence, financial or accounting knowledge and experience and dedication and willingness to devote the time and attention necessary to fulfill Board responsibilities. | Two |
Interested Board
Member Name |
Dollar Range of
Shares Owned in Federated Emerging Markets Equity Fund |
Aggregate
Dollar Range of Shares Owned in Federated Family of Investment Companies |
John F. Donahue | None | Over $100,000 |
J. Christopher Donahue | None | Over $100,000 |
Independent Board
Member Name |
||
John T. Collins | None | None |
Maureen Lally-Green | None | Over $100,000 |
Peter E. Madden | None | Over $100,000 |
Charles F. Mansfield, Jr. | None | Over $100,000 |
Thomas M. O'Neill | None | Over $100,000 |
P. Jerome Richey | None | None |
John S. Walsh | None | Over $100,000 |
Types of Accounts Managed
by Audrey Kaplan |
Total Number of Additional Accounts
Managed/Total Assets* |
Registered Investment Companies | 3/$827.5 million |
Other Pooled Investment Vehicles | 0/$0 |
Other Accounts | 0/$0 |
* | None of the Accounts has an advisory fee that is based on the performance of the account. |
* | None of the Accounts has an advisory fee that is based on the performance of the account. |
For the Year Ended November 30 | 2013 | 2012 | 2011 |
Advisory Fee Earned | $110,334 | $94,447 | $ 92,615 |
Advisory Fee Waived | $110,334 | $94,200 | $ 92,457 |
Advisory Fee Reimbursed | $ 89,009 | $ 247 | $ 158 |
Net Administration Fee | $ 9,568 | $96,138 | $124,420 |
Item 28. Exhibits
(a) | ||
1 | Conformed copy of Amended and Restated Declaration of Trust of the Registrant; | (12) |
2 | Amendment Nos. 4, 5, 6 and 7; | (31) |
3 | Amendment No. 8; | (19) |
4 | Amendment Nos. 9, 10 and 11; | (21) |
5 | Amendment Nos. 12 and 13; | (23) |
6 | Amendment Nos. 14, 15, 16 and 17; | (24) |
7 | Amendment No. 18; | (25) |
8 | Amendment No. 19; | (29) |
9 | Amendment Nos. 20 and 21; | (31) |
10 | Amendment No. 22; | (33) |
11 | Amendment No. 23; | (34) |
12 | Amendment No. 24; | (36) |
13 | Amendment No. 25; | (39) |
14 | Amendment No. 26; | (40) |
15 | Amendment Nos. 27 & No. 28; | (42) |
16 | Amendment Nos. 29 and 30; | (43) |
17 | Amendment No. 31; | (45) |
18 | Amendment No. 32; | (46) |
19 | Amendment No. 33 | (49) |
20 | Amendment Nos. 34, 35, 36 and 37 | (55) |
21 | Amendment No. 38 and 39 | (58) |
22 | Amendment Nos. 40, 41, 42, 43, 44, 45 and 46 | (67) |
(c) | ||
1 | Specimen Share Certificate for Federated Small Cap Strategies Fund; | (7) |
2 | Specimen Share Certificate for Federated Mid Cap Growth Strategies Fund; | (8) |
3 | Specimen Share Certificate for Federated Capital Appreciation Fund; | (9) |
As of September 1, 1997, Federated Securities Corp. stopped issuing share certificates. |
(d) | ||
1 | Conformed copy of Investment Advisory Contract of the Registrant (Federated Mid Cap Growth Strategies Fund); | (5) |
2 | Conformed copy of Investment Advisory Contract on behalf of the Registrant, which includes Exhibit B for Federated Capital Appreciation Fund; | (10) |
3 | Conformed copies of Exhibits D & E for Federated Large Cap Growth Fund and Federated Technology Fund, respectively; | (19) |
4 | Conformed copy of Exhibit G to the Investment Advisory Contract for Federated Kaufmann Fund; | (23) |
5 | Conformed copy of Exhibit I to the Investment Advisory Contract for Federated Market Opportunity Fund; | (23) |
6 | Conformed copy of Amendment to Investment Advisory Contract of the Registrant; | (23) |
7 | Conformed copy of Sub-Advisory Agreement for Federated Kaufmann Fund, which includes Exhibit A, dated December 1, 2001; | (23) |
8 | Conformed copy of Sub-Advisory Agreement for Federated Kaufmann Small Cap Fund, which includes Exhibit A; | (24) |
9 | Conformed copy of Exhibit J to the Investment Advisory Contract for Federated Kaufmann Small Cap Fund; | (24) |
10 | Conformed copy of Sub-Advisory Contract for Federated Market Opportunity Fund, which includes Exhibit A; | (31) |
11 | Conformed copy of Sub-Advisory Contract for Federated Technology Fund, which includes Exhibit A; | (31) |
12 | Conformed copy of Assignments of Federated Investment Management Company to Federated Equity Management Company of Pennsylvania for Advisory and Sub-Advisory Contracts of Federated Capital Appreciation Fund, Federated Kaufmann Fund, Federated Small Cap Kaufmann Fund, Federated Market Opportunity Fund, and Federated Technology Fund; | (31) |
13 | Conformed copy of Assignment of Federated Investment Management Company to Federated Global Investment Management Company for Advisory Contract of Federated Large Cap Growth Fund; | (31) |
14 | Conformed copy of Assignment of Federated Investment Management Company to Federated Equity Management Company of Pennsylvania for Advisory Contract of Federated Mid Cap Growth Strategies Fund; | (31) |
15 | Conformed copy of Investment Advisory Contract of the Registrant, which includes Exhibit A (Federated Strategic Value Fund); | (33) |
16 | Conformed copy of the Sub-Advisory Contract for Federated Absolute Advantage Fund; | (36) |
17 | Conformed copy of Exhibit B to the Investment Advisory of the Registrant; | (36) |
18 | Conformed copy of Assignment of Federated Global Investment Management Corp. to Federated Equity Management Company of Pennsylvania for Advisory Contract of Federated Large Cap Growth Fund; | (39) |
19 | Conformed copy of Federated Global Investment Management Corp. for Federated InterContinental Fund; | (42) |
20 | Conformed copy of Exhibit B to the investment advisory contract for Federated Kaufmann Large Cap Fund; | (43) |
21 | Conformed copy of Sub-Advisory Agreement for Federated Kaufmann Large Cap Fund, including Exhibit A; | (43) |
22 | Conformed copy of Investment Advisory Contract of the Registrant (Federated Prudent Bear Fund); | (46) |
23 | Conformed copy of Exhibits B, C and D to the Investment Advisory Contract with Federated Global Investment Management Company; | (47) |
24 | Conformed copy of Exhibit C to the Investment Advisory Contract with FEMCoPA; | (47) |
25 | Conformed copy of Exhibit E to the Investment Advisory Contract with Federated Global Investment Management Corp. | (55) |
26 | Conformed copy of Amendment #1 to Exhibit A to the Investment Advisory Contract with Federated Global Investment Management Corp. for Federated InterContinental Fund; Conformed copy of Exhibit F to the Investment Advisory Contract for Federated Managed Risk Fund; | (67) |
27 | Form of Sub-advisory Agreement with Federated Investment Management Company for Federated Managed Risk Fund; | (68) |
28 | Form of Sub-advisory Agreement with Federated Equity Management Company of Pennsylvania for Federated Managed Risk Fund; | (68) |
29 | Form of Amendment #1 to Exhibit B to the Investment Advisory Contract with FEMCOPA; | (69) |
30 | Conformed copy of Transfer and Assumption of Investment Advisory contract to Federated MDTA LLC on behalf of Federated MDT Mid-Cap Growth Strategies Fund; | (70) |
(e) | ||
1 | Conformed copy of Distributor’s Contract of the Registrant; | (10) |
2 | Conformed copies of Exhibits D and F to the Distributor’s Contract for Federated Mid Cap Growth Strategies Fund, (Class A and C Shares); | (10) |
3 | Conformed copies of Exhibits G and I to the Distributor’s Contract for Federated Capital Appreciation Fund, (Class A and C Shares); | (10) |
4 | Conformed copy of Distributor’s Contract (Class B Shares); | (16) |
5 | Conformed copies of Exhibits M and N to the Distributor’s Contract for Federated Large Cap Growth Fund, (Class A and C Shares); | (19) |
6 | Conformed copies of Exhibits O and P to the Distributor’s Contract for Federated Communications Technology Fund, (Class A and C Shares); | (19) |
7 | Conformed copy of Exhibits S & T to the Distributor’s Contract for Federated Market Opportunity Fund (Class A and Class C Shares); | (22) |
8 | Conformed copy of Exhibit U to the Distributor’s Contract for Federated Kaufmann Fund (Class K Shares); | (23) |
9 | Conformed copy of Exhibits V & W to the Distributor’s Contract for Federated Kaufmann Fund (Class A and Class C Shares); | (22) |
10 | Conformed copy of Amendment to the Distributor’s Contract of the Registrant, dated June 1, 2001; | (23) |
11 | Conformed copy of Exhibit X to the Distributor’s Contract for Federated Kaufmann Small Cap Fund (Class A Shares); | (24) |
12 | Conformed copy of Exhibit Y to the Distributor’s Contract for Federated Kaufmann Small Cap Fund (Class C Shares); | (24) |
13 | Conformed copy of Exhibit Z to the Distributor's Contract for Federated Capital Appreciation Fund (Class K Shares); | (28) |
14 | The Registrant hereby incorporates the conformed copy of the specimen Mutual Funds Sales and Service Agreement; Mutual Funds Service Agreement; and Plan Trustee/Mutual Funds Service Agreement from Item 24(b)(6)(ii)-(iv) of the Cash Trust Series II Registration Statement on Form N-1A, filed with the Commission on July 24, 1995. (File No. 33-38550 and 811-6269) | |
15 | Conformed copy of Amendment to the Distributor’s Contract of the Registrant, dated October 1, 2003; | (31) |
16 | Conformed copy of Amendment to the Distributor’s Contract (Class B Shares) of the Registrant, dated June 1, 2001; | (31) |
17 | Conformed copy of Amendment to the Distributor’s Contract (Class B Shares) of the Registrant, dated October 1, 2003; | (31) |
18 | Conformed copy of Exhibit AA and BB to the Distributor’s Contract for Federated Strategic Value Fund (Class A and Class C Shares); | (33) |
19 | Conformed copy of Exhibit CC to the Distributors Contract for Federated Strategic Value Fund (Institutional Shares); | (35) |
20 | Conformed copy of Exhibits, DD, EE, FF and GG to the Distributors Contract; | (36) |
21 | Conformed copy of Exhibit HH to Distributors Contract for Federated Mid-Cap Growth Strategies Fund; | (39) |
22 | Conformed copy of Exhibit II, JJ, KK and LL to Distributors Contract for Federated InterContinental Fund; | (42) |
23 | Conformed copy of Amendment 1 to Exhibit G, S, DD and JJ; | (43) |
24 | Conformed copy of Exhibits to the Distributor’s Contract for Federated Prudent Bear Fund (Class A Shares, Class C Shares); | (46) |
25 | Conformed copy of Exhibits SS, TT, UU, YY, ZZ, AAA, BBB, CCC, DDD, EEE, FFF, GGG and HHH to the Distributor’s Contract; | (47) |
26 | Conformed copy of Schedule A to the Distributor’s Contract for Class B Shares; | (63) |
27 | Conformed copy of Exhibit III, JJJ, KKK and LLL to the Distributor’s Contract; | (56) |
28 | Conformed copy of Exhibit MMM to the Distributor’s Contract for Federated Clover Small Value Plan (Class R Shares) | (59) |
29 | Conformed copy of Exhibit D, F, HH and III to the Distributor’s Contract for Federated Mid-Cap Growth Strategies Fund | (63) |
30 | Conformed copy of Exhibit NNN, OOO, PPP and QQQ to the Distributor’s Contract | (67) |
31 | Copy of Schedule A to Class B Shares Distributor’s Contract | (69) |
(f) | Not applicable |
(g) | ||
1 | Conformed Copy of the Custodian Agreement of the Registrant; | (6) |
2 | Conformed copy of Custodian Fee Schedule; | (15) |
3 | Conformed copy of Amendment to Custodian contract of the Registrant dated February 3, 2006; | (39) |
4 | Conformed copy of the Fourth Amendment to the Custody Agreement of the Registrant dated October 23, 2009 | (54) |
5 | Conformed copy of the Seventh Amendment to the Custody Agreement of the Registrant dated September 1, 2010 | (57) |
6 | Conformed copy of the Custody Agreement, up to and including Tenth Amendment with attachments, between The Bank of New York Mellon and Funds dated March 1, 2011. | (59) |
7 | Conformed copy of the Custodian Contract, up to and including Fifth Amendment with attachments, between State Street Bank and Funds dated March 1, 2011. | (59) |
8 | Copy of Exhibit 1 to the Custodian Contract dated December 1, 1993 Revised as of September 20, 2013 | (67) |
(h) | ||
1 | Conformed copy of Amended and Restated Agreement for Fund Accounting Services, Administrative Services, Shareholder Transfer Agency Services and Custody Services Procurement; | (17) |
2 | Conformed copy of Amendment to Agreement for Fund Accounting Services, Administrative Services, Shareholder Transfer Agency Services and Custody Services Procurement; | (23) |
3 | Conformed copy of Principal Shareholder Service’s Agreement (Class B Shares); | (16) |
4 | Conformed copy of Exhibit 1 to the Principal Shareholder Service’s Agreement (Class B Shares); | (23) |
5 | Conformed copy of Shareholder Services Agreement (Class B Shares); | (16) |
6 | Conformed copy of Exhibit 1 to the Shareholder Services Agreement (Class B Shares); | (23) |
7 | The Registrant hereby incorporates by reference the conformed copy of the Shareholder Services Sub-Contract between Fidelity and Federated Shareholder Services from Item 24(b)(9)(iii) of the Federated GNMA Trust Registration Statement on Form N-1A, filed with the Commission on March 25, 1996 (File Nos. 2-75670 and 811-3375). | |
8 | Copy of the Schedule 1 of the Second Amended and Restated Services Agreement, dated January 18, 2013. | (63) |
9 | The responses described in Item 23(e)(xiv) are hereby incorporated by reference. | |
10 | The Registrant hereby incorporates the conformed copy of Amendment No. 2 to the Amended & Restated Agreement for Fund Accounting Services, Administrative Services, Transfer Agency Services and Custody Services Procurement from Item 23 (h)(v) of the Federated U.S. Government Securities: 2-5 Years Registration Statement on Form N-1A, filed with the Commission on March 30, 2004. (File Nos. 2-75769 and 811-3387); | |
11 | The Registrant hereby incorporates the conformed copy of Amendment No. 3 to the Amended & Restated Agreement for Fund Accounting Services, Administrative Services, Transfer Agency Services and Custody Services Procurement from Item 23 (h)(v) of the Federated U.S. Government Securities: 2-5 Years Registration Statement on Form N-1A, filed with the Commission on March 30, 2004. (File Nos. 2-75769 and 811-3387; | |
12 | The Registrant hereby incorporates by reference the conformed copy of the Agreement for Administrative Services, with Exhibit 1 and Amendments 1 and 2 attached, between Federated Administrative Services and the Registrant from Item 23(h)(iv)of the Federated Total Return Series, Inc. Registration Statement on Form N-1A, filed with the Commission on November 29, 2004. (File Nos. 33-50773 and 811-7115); | |
13 | The Registrant herby incorporates by reference the conformed copy of the Financial Administration and Accounting Services Agreement, with attached Exhibit A revised 3/1/06, from Item (h)(viii) of the Federated Total Return Government Bond Fund, Registration Statement on Form N-1A, filed with the Commission on April 26, 2006. (File Nos. 33-60411 and 811-07309) | |
14 | The Registrant hereby incorporates by reference the conformed copy of Transfer Agency and Service Agreement between the Federated Funds listed on Schedule A revised 3/1/06 and State Street Bank and Trust Company from Item 23(h)(ix) of the Federated Total Return Government Bond Fund Registration Statement on Form N-1A, filed with the Commission on April 26, 2006. (File Nos. 33-60411 and 811-07309) | |
15 | The Registrant hereby incorporates by reference the conformed copy of Amendment No. 3 to the Agreement for administrative Services between Federated Administrative Services Company and the Registrant dated June 1, 2005, form Item 23 (h)(ii) of the Cash Trust Series, Inc. Registrant Statement on Form N-1A, filed with the Commission on July 27, 2005. (File Nos. 33-29838 and 811-5843) | |
16 | The Registrant hereby incorporates the Copy of Schedule 1, revised 9/1/05, to the Second Amended and Restated Services Agreement, from Item h(ix) of the Federated Institutional Trust Registration Statement on Form N-1A, filed with the Commission on September 28, 2005. (File Nos. 33-54445 and 811-7193) | |
17 | Cop of Exhibit A, revised 1/18/2013, to the Financial Administration and Accounting Services Agreement. | (63) |
18 | The Registrant hereby incorporates the Copy of Schedule 1, revised 6/1/05, to the Transfer Agency and Services Agreement between the Federated Funds and State Street Bank and Trust Company from , from Item h(xi) of the Federated Institutional Trust Registration Statement on Form N-1A, filed with the Commission on September 28, 2005. (File Nos. 33-54445 and 811-7193) | |
19 | The Registrant hereby incorporates the conformed copy of the Transfer Agency and Service Agreement between the Federated Funds and State Street Bank and Trust Company form Item 23(h)(ix) of the Federated Stock Trust Registration statement on Form N-1A, filed with the Commission on December 29, 2005. (File Nos. 33-60411 and 811-07309). | |
20 | The Registrant hereby incorporates the conformed copy of Schedule A to the Transfer Agency and the Service Agreement; | (47) |
21 | Conformed copy of Amendment to Exhibit A and Amendment to Exhibit B of the Fund Accounting Agreement with The Bank of New York Mellon; | (47) |
22 | Conformed copy of Schedule A to the Transfer Agency Agreement; | (48) |
23 | Conformed copy of Exhibit A to the Financial Administration and Accounting Service Agreement; | (48) |
24 | Conformed copy of Exhibit 1 to the Administrative Services Agreement; | (48) |
25 | Conformed copy of Schedule 1 to the Second Amended and Restated Services Agreement; | (48) |
26 | Conformed copy of Schedule A of the Shareholder Services Agreement for Class B Shares; | (48) |
27 | Copy of Schedule A of the Principal Shareholder Services Agreement for Class B Shares, revised January 18, 2013; | (63) |
28 | Conformed copy of Exhibit 1 to the Administrative Services Agreement; | (53) |
29 | Conformed copy of the Third Amendment to the Fund Accounting Agreement of the Registrant dated October 23, 2009 | (54) |
30 | Copy of Exhibit 1 to Agreement for Administrative Services, revised January 18, 2013; | (63) |
31 | Conformed copy of the Fifth Amendment to the Fund Accounting Agreement of the Registrant dated September 1, 2010 | (57) |
32 | Conformed copy of new Fund Accounting Agreement of the Registrant with The Bank of New York Mellon, up to and including the First Amendment, dated March 1, 2011 and March 25, 2011, respectively. | (59) |
33 | Conformed copy of the new Financial Administration Accounting Services Agreement of the Registrant with State Street Bank and Trust, up to and including the First Amendment dated March 1, 2011 and March 25, 2011, respectively. | (59) |
34 | Conformed copy of the Transfer Agency and Service Agreement between the Funds and State Street Bank and Trust Company, up to and including the First Amendment dated July 1, 2004 and January 1, 2008, respectively. | (59) |
35 | Conformed copy of the Tax Services Agreement dated between the Bank of New York Mellon and Federated Administrative Services dated September 27, 2011 | (59) |
36 | Conformed copy of the Services Agreement between Federated Equity Management Company of Pennsylvania and Federated Advisory Services Company dated January 1, 1994 and including Schedule 1 revised as of 8/31/2011 | (59) |
37 | Conformed copy of the Services Agreement between Federated Global Investment Management Corp. and Federated Advisory Services Company dated January 1, 2004 and including Schedule 1 revised as of 8/31/2011 | (59) |
38 | Conformed copy of the Shareholder Services Agreement between Federated Securities Corp. and Funds listed on Schedule A revised as of 2/21/2011 | (59) |
39 | Conformed copy of Compliance Support Service Addendum to the Fund Accounting Agreement dated | (61) |
40 |
Copy of Exhibit 1 to Custodian Contract Between Federated Investment Companies, State Street Bank And Trust Company, and Federated Services Company, dated December 1, 1993 (revised January 18, 2013)
|
(63) |
41 | Copy of Schedule A to Shareholder Services Agreement, revised January 18, 2013; | (63) |
42 | Conformed copy of Amended and Restated Agreement for Administrative Services dated September 1, 2012 | (64) |
43 | Copy of Exhibit 1 to the Agreement for Administrative Services revised September 20, 2013 | (67) |
44 | Copy of Schedule 1 to the Second Amended and Restated Services Agreement revised September 20, 2013 | (67) |
45 | Copy of Schedule A to the Financial Administration Accounting and Services Agreement updated September 20, 2013 | (67) |
46 | Conformed copy of Schedule A to the Transfer Agency and Service Agreement revised September 1, 2013 | (68) |
47 | Copy of Schedule A to the Shareholder Services Agreement for Class B Shares, revised April 22, 2013 | (69) |
48 | Copy of Schedule A to the Principal Shareholder Servicer’s Agreement for Class B Shares, revised April 22, 2013 | (69) |
(i) | Conformed copy of the Opinion and Consent of Counsel regarding legality of shares being registered; | (6) |
(j) | ||
1 | Conformed copy of Consent of Independent Registered Public Accounting Firm (Deloitte & Touche LLP); | (41) |
2 | Conformed copy of Independent Registered Accounting Firm (Tait Weller& Baker) | (42) |
3 | Conformed copy of Consent of Independent registered Public Accounting Firm (PricewaterhouseCoopers LLP) | (45) |
4 | Conformed copy of Consent of Independent Registered Public Accounting Firm, with respect to(Ernst & Young LLP) | (62) |
5 | Conformed copy of Consent of Independent Registered Public Accounting Firm, with respect to FICF (KPMG LLP) | (63) |
6 | Conformed copy of Consent of Independent Registered Public Accounting Firm, with respect to FISVF and FGLEF (KPMG LLP) | (63) |
7 | Conformed copy of Consent of Independent Registered Public Accounting Firm, with respect to FMMGSF (KPMG LLP) | (64) |
8 | Conformed copy of Consent of Independent Registered Public Accounting Firm, with respect to FICF (KPMG LLP) | (66) |
9 | Conformed copy of Consent of Independent Registered Public Accounting Firm, with respect to FCSVF, FCVF and FPBF (KPMG LLP) | (67) |
10 | Conformed copy of Consent of Independent Registered Public Accounting Firm, with respect to FKAUF, FKLCF, FKSCF and FSVF (Ernst & Young LLP) | (69) |
11 | Conformed copy of Consent of Independent Registered Public Accounting Firm, with respect to FARF and FMMGSF (KPMG LLP) | (69) |
12 | Conformed copy of Consent of Independent Registered Public Accounting Firm, with respect to FISVF, FICF and FGLEF (KPMG LLP) | (70) |
13 | Conformed copy of Consent of Independent Registered Public Accounting Firm, with respect to FGLEF (KMPG LLP) | + |
(k) | Not Applicable |
(l) | Conformed copy of Initial Capital Understanding; | (2) |
(m) | ||
1 | Conformed Copy of Distribution Plan of the Registrant, including Exhibits A, B and C; | (31) |
2 | The responses described in Item 23(e)(xiv) are hereby incorporated by reference | |
3 | Conformed copy of Amendment to the Distribution Plan (Class B Shares); | (23) |
4 | Conformed copy of Exhibit D to the Distribution Plan of the Registrant; | (33) |
5 | Conformed copy of Exhibit E to the Distribution Plan of the Registrant; | (35) |
6 | Conformed copy of Exhibits H and I to the Distribution Plan of the Registrant; | (39) |
7 | Conformed copy of Amendment 1 to Exhibit E and J; Exhibit K, L, M, N, O and P to the Distribution Plan of the Registrant; | (43) |
8 | Conformed copy of Exhibits to the Distribution Plan of the Registrant; | (45) |
9 | Conformed copy of Exhibits Q, U, V, W, X, Y, Z and AA to the Distribution Plan of the Registrant; | (47) |
10 | Copy of Schedule A to the Distribution Plan for Class B Shares; | (63) |
11 | Conformed copy of Exhibits BB, CC and DD to the Distribution Plan of the Registrant | (59) |
12 | Conformed copy of Exhibits B and I to the Distribution Plan of the Registrant | (63) |
13 | Conformed copy of Exhibit EE to the Distribution Plan of the Registrant | (67) |
14 | Copy of Schedule A to the Distribution Plan for Class B Shares | (69) |
(n) | ||
1 | The Registrant hereby incorporates the Copy of the Multiple Class Plan and attached Exhibits for all classes from Item (n) of the Federated Short-Term Municipal Trust Registration Statement on Form N-1A, filed with the Commission on August 28, 2006 (File Nos. 2-72277 and 811-3181); | |
2 | Conformed copy of Class A Shares, Class B Shares, Class C Shares, Class K Shares and Institutional Shares Exhibits to Multiple Class Plan; | (47) |
3 | Conformed copy of Institutional Shares Exhibit to the Multiple Class Plan; | (48) |
4 | Conformed copy of Institutional Shares and Institutional Service Shares Exhibits to the Multiple Class Plan; | (49) |
5 | Copy of Class A Shares, Class B Shares, Class C Shares, Class K Shares and Institutional Shares Exhibits to the Multiple Class Plan; | (56) |
6 | Copy of Class R Shares and Institutional Shares Exhibits to Multiple Class Plan; | (58) |
7 | Conformed Copy of the Multiple Class Plan including Class A Share, Class C Share, Class R Share and Institutional Share Exhibits | (59) |
8 | Copy of Class B Shares Exhibit to Multiple Class Plan | (60) |
9 | Conformed Copy of the Multiple Class Plan including Class A Shares, Class B Shares, Class C Shares, Class F Shares and Institutional Shares | (63) |
10 | Copy of Class R6 Shares Exhibit to the Multiple Class Plan | (66) |
11 | Copy of Class R Shares Exhibit to the Multiple Class Plan | (67) |
12 | Copy of the Class A Shares and Institutional Shares Exhibits to the Multiple Class Plan | (68) |
13 | Copy of the Class B Shares Exhibit to the Multiple Class Plan | (69) |
14 | Copy of the Class C Shares Exhibit to the Multiple Class Plan | (69) |
15 | Copy of Class R6 Shares Exhibit to the Multiple Class Plan | + |
(o) | ||
1 | Conformed copy of Power of Attorney of the Registrant; | (19) |
2 | Conformed copy of Power of Attorney of Trustee of the Registrant; | (19) |
3 | Conformed copy of Limited Power of Attorney; | (27) |
4 | Conformed copy of Power of Attorney of Trustee of the Registrant; | (39) |
5 | Conformed copy of Power of Attorney of Trustee of the Registrant; | (39) |
6 | Conformed copy of Power of Attorney of the Registrant; | (39) |
7 | Conformed copy of Power of Attorney of Trustee of the Registrant; | (41) |
8 | Conformed copy of Power of Attorney of Trustee of the Registrant; | (44) |
9 | Conformed copy of Power of Attorney of Trustee of the Registrant for Maureen Lally-Green; | (49) |
10 | Conformed copy of Power of Attorney of Treasurer Lori A. Hensler | (65) |
11 | Conformed copy of Power of Attorney of Trustee of the Registrant for John T. Collins; | (67) |
12 | Conformed copy of Power of Attorney of Trustee of the Registrant for P. Jerome Richey; | (67) |
+ | Exhibit is being filed electronically with registration statement; indicate by footnote |
ALL RESPONSES ARE INCORPORATED BY REFERENCE TO A POST-EFFECTIVE AMENDMENT (PEA) OF THE REGISTRANT FILED ON FORM N-1A (FILE NOS. 1933 Act No . 2-91090 and 1940 Act No . 811-4017)
|
||
2 | PEA No. 1 filed February 28, 1985 | |
5 | PEA No. 21 filed June 30, 1995 | |
6 | PEA No. 20 filed December 29, 1994 | |
7 | PEA No. 21 filed June 30, 1995 | |
8 | PEA No. 22 filed July 17, 1995 | |
9 | PEA No. 25 filed August 31, 1995 | |
10 | PEA No. 26 filed September 12, 1995 | |
12 | PEA No. 32 filed September 3, 1996 | |
15 | PEA No. 31 filed October 30, 1997 | |
16 | PEA No. 35 filed December 30, 1997 | |
17 | PEA No. 40 filed October 9, 1998 | |
18 | PEA No. 41 filed November 2, 1998 | |
19 | PEA No. 44 filed December 28, 1999 | |
21 | PEA No. 50 filed December 29, 2000 | |
22 | PEA No. 52 filed March 20, 2001 | |
23 | PEA No. 51 filed December 27, 2001 | |
24 | PEA No. 57 filed December 26, 2002 | |
25 | PEA No. 59 filed February 7, 2003 | |
27 | PEA No. 61 filed March 31, 2003 | |
28 | PEA No. 55 filed September 22, 2003 | |
29 | PEA No. 62 filed October 30, 2003 | |
31 | PEA No. 66 filed October 15, 2004 | |
32 | PEA No. 67 filed December 30, 2004 | |
33 | PEA No. 68 filed January 7, 2005 | |
34 | PEA No. 69 filed June 22, 2005 | |
35 | PEA No. 70 filed September 2, 2005 | |
36 | PEA No. 73 filed October 14, 2005 | |
37 | PEA No. 74 filed November 14, 2005 | |
38 | PEA No. 76 filed December 29, 2005 | |
39 | PEA No. 77 filed October 17, 2006 | |
40 | PEA No. 78 filed December 11, 2006 | |
41 | PEA No. 79 filed December 29, 2006 | |
42 | PEA No. 83 filed June 25, 2007 | |
43 | PEA No. 88 filed December 28, 2007 | |
44 | PE No. 92 filed April 10, 2008 | |
45 | PEA No. 93 filed July 15, 2008 | |
46 | PEA No. 96 filed September 11, 2008 | |
47 | PEA No. 97 filed December 30, 2008 | |
48 | PEA No. 101 filed February 27, 2009 | |
49 | PEA No. 102 filed September 30, 2009 | |
50 | PEA No. 103 filed November 13, 2009 | |
51 | PEA No. 105 filed November 30, 2009 | |
52 | PEA No. 107 filed December 30, 2009 | |
53 | PEA No. 109 filed January 28, 2010 | |
54 | PEA No. 110 filed May 6, 2010 | |
55 | PEA No. 111 filed September 16, 2010 | |
56 | PEA No. 112 filed November 29, 2010 | |
57 | PEA No. 115 filed December 29, 2010 | |
58 | PEA No. 116 filed on January 31, 2011 | |
59 | PEA No. 119 filed on November 29, 2011 | |
60 | PEA No. 121 filed on December 28, 2011 | |
61 | PEA No. 125 filed on November 28, 2012 | |
62 | PEA No. 127 filed on December 21, 2012 | |
63 | PEA No. 130 filed on January 28, 2013 | |
64 | PEA No. 133 filed on February 26, 2013 | |
65 | PEA No. 135 filed on June 4, 2013 | |
66 | PEA No. 136 filed on August 2, 2013 | |
67 | PEA No. 139 filed on November 27, 2013 | |
68 | PEA No. 141 filed on December 16, 2013 | |
69 | PEA No. 144 filed on December 30, 2013 | |
70 | PEA No. 146 filed on January 28, 2014 |
Item 29 Persons Controlled by or Under Common Control with the Fund: |
None |
Item 30 Indemnification |
(1) |
(1) Positions and Offices with Distributor |
(2) Name
|
(3) Positions and Offices With Registrant |
Executive Vice Presidents: |
Solon A. Person, IV Paul Uhlman |
|
Senior Vice Presidents:
|
Irving Anderson Michael Bappert Jack Bohnet Jane E. Broeren-Lambesis Bryan Burke Charles L. Davis, Jr. Peter W. Eisenbrandt Theodore Fadool, Jr. Jamie Getz Dayna C. Haferkamp Vincent L. Harper, Jr. Bruce E. Hastings James M. Heaton Donald Jacobson Harry J. Kennedy Michael Koenig Anne H. Kruczek Michael Liss Amy Michaliszyn Richard C. Mihm Alec H. Neilly Becky Nelson Keith Nixon Brian S. Ronayne Tom Schinabeck John Staley Colin B. Starks Robert F. Tousignant William C. Tustin Michael Wolff |
|
Vice Presidents: |
Catherine M. Applegate Robert W. Bauman Marc Benacci Dan Berry Bill Boarts Edward R. Bozek Edwin J. Brooks, III Mark Carroll Dan Casey Scott Charlton Steven R. Cohen James Conely Kevin J. Crenny G. Michael Cullen Beth C. Dell Jack C. Ebenreiter Donald C. Edwards Timothy Franklin Peter Germain Scott Gundersen Michael L. Guzzi Raymond J. Hanley Scott A. Holick Robert Hurbanek Jeffrey S. Jones Todd Jones Scott D. Kavanagh Patrick Kelly Matthew Khan Shawn E. Knudson Ed Koontz Jerry L. Landrum David M. Larrick Christopher A. Layton John P. Lieker Jonathan Lipinski Michael R. Manning Michael Marcin Paul Marino Susan Matis Diane Marzula Meghan McAndrew Martin J. McCaffrey Kyle Morgan Vincent T. Morrow John C. Mosko Doris T. Muller Ted Noethling John A. O’Neill James E. Ostrowski Stephen Otto Mark Patsy Rich Paulson Chris Prado Sean Quirk Josh Rasmussen Richard A. Recker Diane M. Robinson Timothy A. Rosewicz Matt Ryan
|
|
Eduardo G. Sanchez Peter Siconolfi Bradley Smith Edward L. Smith Eric M. Smyth Jack L. Streich Mark Strubel Jonathen Sullivan Cynthia M. Tomczak Jerome R. Tuskan Michael Vahl David Wasik G. Walter Whalen Stephen White Lewis Williams Littell L. Wilson Edward J. Wojnarowski Daniel Wroble Erik Zettlemayer Paul Zuber |
Assistant Vice Presidents: |
Debbie Adams-Marshall Mary Ellen Coyne Chris Jackson Joseph R. Lantz Carol Anne Sheppard Laura Vickerman James Wagner
|
|
Secretary: | Kary A. Moore | |
Treasurer: | Richard A. Novak | |
Assistant Treasurer: | Jeremy D. Boughton | |
Chief Compliance Officer: | Brian P. Bouda |
(c) | Not Applicable |
Item 33 Location of Accounts and Records: |
All accounts and records required to be maintained by Section 31(a) of the Investment Company Act of 1940 and Rules 31a-1 through 31a-3 promulgated thereunder and those records required to be maintained by the Adviser with respect to the Registrant in accordance with CFTC regulations are maintained at one of the following locations: |
Registrant |
Reed Smith LLP
225 Fifth Avenue
(Notices should be sent to the Agent for Service at above address)
Federated Investors Funds
Warrendale, PA 15086-7561 |
Federated Administrative Services (“Administrator”) |
Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 |
Federated Equity Management Company of Pennsylvania (“FEMCOPA”)(“Adviser”) 1 (Sub-Adviser to Federated Managed Risk Fund) |
Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 |
Federated Global Investment Management Corp. (“FGIMC”) (“Adviser”) 2 (“Sub-Adviser”) 3 |
450 Lexington Avenue Suite 3700 New York, NY 10017-3943 |
Federated MDTA LLC (Adviser to Federated MDT Mid Cap Growth Strategies Fund) |
125 High street Oliver Tower 21 st Floor Boston, MA 02110 |
Federated Investment Management Company (Sub-Adviser to Federated Absolute Return Fund and Federated Managed Risk Fund) |
Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 |
State Street Bank and Trust Company (“Transfer Agent, Dividend Disbursing Agent” and “Custodian”) |
P.O. Box 8600 Boston, MA 02266-8600 |
The Bank of New York Mellon (Custodian to Federated Absolute Return Fund) |
One Wall Street New York, NY 10286
|
1 FEMCOPA serves as Adviser to: Federated International Strategic Value Dividend Fund, Federated Kaufmann Fund, Federated Kaufmann Large Cap Fund, Federated Kaufmann Small Cap Fund, Federated Absolute Return Fund, Federated Prudent Bear Fund and Federated Strategic Value Dividend Fund.
2
FGIMC serves as Adviser to: Federated Clover
Small Value Fund, Federated Clover Value Fund, Federated Global Equity Fund, Federated Managed Risk and Federated InterContinental
Fund.
3
FGIMC serves as Sub-Adviser to: Federated Kaufmann Fund, Federated Kaufmann Large Cap Fund and Federated Kaufmann
Small Cap Fund.
SIGNATURES Pursuant to the requirements of the Securities Act of 1933, and the Investment Company Act of 1940, the Registrant, FEDERATED EQUITY FUNDS, has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Pittsburgh and Commonwealth of Pennsylvania, on th e 25 th day of February 2014. |
FEDERATED EQUITY FUNDS |
BY: /s/ Todd P. Zerega
Todd P. Zerega, Assistant Secretary |
Pursuant to the requirements of the Securities Act of 1933, this Amendment to its Registration Statement has been signed below by the following person in the capacity and on the date indicated: |
NAME | TITLE | DATE |
BY: /s/ Todd P. Zerega
Todd P. Zerega Assistant Secretary |
Attorney In Fact For the Persons Listed Below | February 25, 2014 |
John F. Donahue * | Trustee | |
J. Christopher Donahue * | President and Trustee (Principal Executive Officer) | |
Lori A. Hensler* | Treasurer (Principal Financial Officer) | |
John T. Collins* | Trustee | |
Maureen Lally-Green* | Trustee | |
Peter E. Madden* | Trustee | |
Charles F. Mansfield, Jr.* | Trustee | |
Thomas O’Neill* | Trustee | |
P. Jerome Ritchey* | Trustee | |
John S. Walsh* | Trustee | |
*By Power of Attorney |
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