Federated Investors, Inc. Announces Portfolio Manager Retirement

PITTSBURGH, May 20, 2015 /PRNewswire/ -- Federated Investors, Inc. (NYSE: FII), one of the nation's largest investment managers, today announced that Lawrence Auriana, a senior portfolio manager on the Federated Kaufmann growth equity team, has retired. 

Over the years, Federated has prepared for such a transition among senior Kaufmann team members.  Hans Utsch, who is the co-founder and senior portfolio manager of the Federated Kaufmann team, will continue to lead the stock research and portfolio management efforts overseeing a team of 14 portfolio managers, analysts and traders.  Utsch will continue to serve as senior portfolio manager for Federated Kaufmann Fund, Federated Kaufmann Large Cap Fund, Federated Kaufmann Small Cap Fund and Federated Kaufmann Fund II, which is used in variable annuities.  He also assumes Auriana's portfolio management responsibilities for the Federated Kaufmann Fund and the Federated Kaufmann Fund II.   

Each fund will continue to have its existing multi-portfolio manager, team-based structure, with eight portfolio managers focused on investing in companies poised for growth and profitability.  Auriana's other fund responsibilities will be divided among existing Federated Kaufmann team members.  Specifically, for the Federated Kaufmann Large Cap Fund, additional responsibilities will be shared by two current portfolio managers: Tom Brakel and Johnathan Art.  Brakel is a senior portfolio manager and senior investment analyst who has 18 years of investment experience and has been a part of the Federated Kaufmann team since 2002.  Art is senior portfolio manager and senior investment analyst and 34-year veteran of the industry who has been a part of the Federated Kaufmann team since 1995.  Similarly, for the Federated Kaufmann Small Cap Fund, additional responsibilities will be shared by two current portfolio managers: John Ettinger and Stephen DeNichilo.  Ettinger is a senior portfolio manager and senior investment analyst who has worked in the industry for 21 years, including 19 years as part of the Federated Kaufmann team.  DeNichilo is a portfolio manager and senior investment analyst who has 17 years of investment experience and joined the Federated Kaufmann team in 2012. 

In addition, Stephen F. Auth, chief investment officer for global equities, who has 33-years of investment experience, has worked closely with the Federated Kaufmann team since 2002 and will continue to oversee the team from a performance and risk-attribution perspective.

"Larry was dedicated to growth investing and the cultivation of the team's next generation of growth analysts and investors who have been central to the success of the Federated Kaufmann strategies," said John B. Fisher, president of Federated's advisory companies. "Fortunately, the Federated Kaufmann team has very insightful and experienced team members who have worked closely with Hans Utsch in an intensive, performance-focused environment for years or even decades.  Our research and investment process will continue without interruption providing fund shareholders and clients with the opportunity for performance they have come to expect from the Federated Kaufmann team."

The Federated Kaufmann team includes eight portfolio managers, who average more than 27 years in the investment management business, three additional analysts, who average more than 25 years of investment management experience and three traders who average more than 19 years of experience.

The Kaufmann team is focused on companies poised for growth and profitability over a three- to five-year horizon. A key characteristic shared by these companies is the opportunity to achieve growth ahead of the curve and seek to sustain it through well-executed innovation.  The Kaufmann team employs a highly disciplined bottom-up approach that includes frequent conversations with key managers and employees, regular on-site visits and industry analysis as well as thorough fundamental research.  The team's selection process is intense and impartial, drawing on its long experience of making solid assessments about a company's true—and continuing—growth potential.

As of April 30, 2015, the Federated Kaufmann team oversaw more than $9 billion in equity assets including the $5.9 billion Federated Kaufmann Fund, the $2.5 billion Federated Kaufmann Large Cap Fund, the $752 million Federated Kaufmann Small Cap Fund and the $127 million Federated Kaufmann Fund II.

Federated Investors, Inc. is one of the largest investment managers in the United States, managing $355.8 billion in assets as of March 31, 2015. With 130 funds and a variety of separately managed account options, Federated provides comprehensive investment management to more than 7,700 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 adviser.

SOURCE Federated Investors, Inc.

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