Federated Investors, Inc. to Advise on Multi-billion Dollar Portfolio for Bayerische Landesbank
Mandate builds on Federated’s demonstrated ability to realize value for clients within their
(PITTSBURGH, Pa., Jul. 14, 2009) — Federated Investors, Inc. (NYSE: FII), one of the United States' largest investment managers, today announced that Munich-based Bayerische Landesbank (Bayern LB), one of the largest banks in the Free State of Bavaria and one of the leading banks in Germany, selected Federated as investment advisor for its multi-billion-dollar portfolio of U.S. dollar denominated securities. The announcement was made by Gordon J. Ceresino, vice chairman of Federated and executive director of international distribution, and Dr. Ralph Schmidt, chief risk officer of Bayern LB.
The portfolio consists of residential and commercial mortgage-backed securities as well as other types of assetbacked securities. Federated will assist in the unwinding of the portfolio over a multi-year period with a focus on realizing appropriate values through a combination of constant surveillance and sales of portfolio securities when appropriate.
"Bayern LB has significantly reduced its portfolio of asset-backed securities over the last two years. In order to continue and possibly accelerate this portfolio amortization in a capital-efficient way we will draw on Federated's experience and advice," said Schmidt.
"Federated has demonstrated its ability to manage a variety of bond products and portfolios over decades. With the tremendous changes in the bond market over the last two years, clients are increasingly looking to Federated to help them realize appropriate value from their portfolios of asset-backed securities and structured products. We are honored to be selected to work with Bayern LB in this area," said Ceresino.
In the global marketplace, Federated has been managing investments for non-U.S. investors for more than 20 years and today manages more than $14 billion across a range of international and offshore stock, bond and money market portfolios. Federated has established a growing presence outside the U.S. For more than a decade, Federated, through its Frankfurt-based subsidiary Federated Asset Management GmbH, has offered an Germany and other European countries.
Federated Investors, Inc. (NYSE: FII) is one of the largest investment managers in the United States, managing $409.2 billion in assets as of March 31, 2009. With 158 funds, as well as a variety of separately managed account options, Federated provides comprehensive investment management worldwide to nearly 5,400 institutions and Federated to Manage Portfolio for Bayern LB Page 2 of 2 intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.
About Bayern LB
Bayerische Landesbank, based in Munich, Germany, is owned by the Free State of Bavaria and the Association of Bavarian Savings Banks. Its consolidated total assets as per 31.12.2008 were 422 billion Euros. BayernLB concentrates on the customer segments German mid-cap corporate customers, large domestic and international corporate customers, commercial real estate, public sector and financial institutions as well as retail customer business. For more information, see www.bayernlb.de.