PITTSBURGH, March 4, 2013 /PRNewswire/ -- Federated Investors, Inc. (NYSE: FII), one of the nation's largest investment managers, began the management of the $7.1 billion Massachusetts Municipal Depository Trust (MMDT) Pools for the Commonwealth of Massachusetts, after being awarded the business in July 2012.
Federated's team of seasoned investment professionals will oversee the management of MMDT's Cash Portfolio and Short Term Bond Portfolio. The MMDT Cash Portfolio invests in high-quality U.S. dollar denominated money market instruments. The MMDT Short Term Bond Portfolio invests in high-quality U.S. dollar denominated investment-grade securities.
Federated has hired dedicated sales and service personnel who will be based in Federated's Boston office. They will have the specific responsibility of working to assist our MMDT participants. Having hosted six successful open house events held in February, Federated representatives are looking forward to meeting participants at upcoming conferences throughout the spring including the Massachusetts Association of School Business Officials Trade Show, the Massachusetts Collectors and Treasurers Associations Spring Meeting, the Treasury Management Association of New England Annual Conference and the Massachusetts Collectors and Treasurers Association Annual June Conference.
Federated is an experienced manager of state and local assets, providing portfolio management and credit analysis, as well as field marketing and participant point-of-contact services, for state and local governments nationwide. Founded in 1955, Federated has managed money market products since 1974 and managed more than $280 billion in money market assets as of Dec. 31, 2012. Federated is the largest provider of liquidity management services to state pools.Federated Investors, Inc. (NYSE: FII) is one of the largest investment managers in the United States, managing $379.8 billion in assets as of Dec 31, 2012. With 137 funds, as well as a variety of separately managed account options, Federated provides comprehensive investment management worldwide to approximately 4,700 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com. Certain statements in this press release, such as those relating to establishing relationships with government investment pools, 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 company to successfully establish such relationships, 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.