Federated Investors, Inc. Completes Transition of $14 Billion in Money Market Assets from SunTrust Banks, Inc.

PITTSBURGH, Nov. 29, 2010 /PRNewswire/ -- Federated Investors, Inc. (NYSE: FII), one of the nation's largest investment managers, completed the transition of approximately $14 billion in money market assets.  The assets were previously managed by SunTrust Banks Inc.'s RidgeWorth Capital Management Inc.  

The assets were transitioned into Federated money market funds with similar investment objectives through a series of closings that began in September 2010.  The transactions were completed at the close of business on Wednesday, Nov. 24, 2010.

"The transactions are the continuation of Federated's long-term relationship with SunTrust," said J. Christopher Donahue, president and chief executive officer of Federated Investors, Inc.  "Federated's wide range of liquidity options and money market products combined with our dedicated customer service and experience in transitioning cash management business can benefit SunTrust and its customers."

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 http://FederatedInvestors.com.

Separately managed accounts are made available through Federated Global Investment Management Corp., Federated Investment Counseling and Federated MDTA LLC, each a registered investment advisor.

Federated Securities Corp. is the distributor of Federated funds.

SOURCE Federated Investors, Inc.