United States
Securities and Exchange Commission
Washington, D.C. 20549
Amended
Form N-CSR
Certified Shareholder Report of Registered Management Investment Companies
811-21904
(Investment Company Act File Number)
Federated MDT Series
_______________________________________________________________
(Exact Name of Registrant as Specified in Charter)
Federated Investors Funds
4000 Ericsson Drive
Warrendale, Pennsylvania 15086-7561
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant's Telephone Number)
John W. McGonigle, Esquire
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)
(Notices should be sent to the Agent for Service)
Date of Fiscal Year End: 07/31/2012
Date of Reporting Period: 07/31/2012
Item 1. Reports to Stockholders
Share Class | Ticker |
A | QASCX |
C | QCSCX |
Institutional | QISCX |
1 | The Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000®Index, which represents approximately 7% of the total market capitalization of the Russell 3000®Index. The index is unmanaged, and it is not possible to invest directly in an index. |
2 | The Russell 3000® Index offers investors access to the broad U.S. equity universe representing approximately 98% of the U.S. market. The Russell 3000® Index is constructed to provide a comprehensive, unbiased and stable barometer of the broad market and is completely reconstituted annually to ensure new and growing equities are reflected. The index is unmanaged, and it is not possible to invest directly in an index. |
3 | The Russell Top 200® Index measures the performance of the 200 largest companies in the Russell 1000® Index and represents approximately 66% of the total market capitalization of the Russell 1000® Index. The index is unmanaged, and it is not possible to invest directly in an index. |
4 | The Russell Midcap® Index measures the performance of the 800 smallest companies in the Russell 1000® Index and represents approximately 27% of the total market capitalization of the Russell 1000® Index. The index is unmanaged, and it is not possible to invest directly in an index. |
5 | Small company stocks may be less liquid and subject to greater price volatility than large capitalization stocks. |
6 | The Russell 3000® Growth Index measures the performance of those Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values. The stocks in this index are also members of either the Russell 1000® Growth or the Russell 2000® Growth indexes. The index is unmanaged, and it is not possible to invest directly in an index. |
7 | The Russell 3000® Value Index measures the performance of those Russell 3000® Index companies with lower price-to-book ratios and lower forecasted growth values. The stocks in this index are also members of either the Russell 1000® Value or the Russell 2000® Value indexes. The index is unmanaged, and it is not possible to invest directly in an index. |
Share Class | 1 Year | 5 Years | Start of Performance* |
Class A Shares | -8.99% | -6.31% | -0.68% |
Class C Shares | -5.30% | -5.95% | -0.60% |
Institutional Shares | -3.30% | -5.04% | 0.36% |
* | The Fund's start of performance date was September 15, 2005. |
Federated MDT Small Cap Core Fund - Class A Shares | C000035058 | Russell 2000® Index |
9/15/2005 | 9,450 | 10,000 |
7/31/2006 | 10,499 | 10,633 |
7/31/2007 | 12,493 | 11,922 |
7/31/2008 | 10,234 | 11,122 |
7/31/2009 | 6,595 | 8,817 |
7/31/2010 | 7,567 | 10,442 |
7/31/2011 | 9,903 | 12,940 |
7/31/2012 | 9,542 | 12,964 |
■ | Total returns shown include the maximum sales charge of 5.50% ($10,000 investment minus $550 sales charge = $9,450). |
Federated MDT Small Cap Core Fund - Class C Shares | C000035059 | Russell 2000® Index |
9/15/2005 | 10,000 | 10,000 |
7/31/2006 | 11,050 | 10,633 |
7/31/2007 | 13,040 | 11,922 |
7/31/2008 | 10,606 | 11,122 |
7/31/2009 | 6,784 | 8,817 |
7/31/2010 | 7,729 | 10,442 |
7/31/2011 | 10,033 | 12,940 |
7/31/2012 | 9,598 | 12,964 |
■ | Total returns shown include the maximum contingent deferred sales charge of 1.00%, as applicable. |
Federated MDT Small Cap Core Fund - Institutional Shares | C000035060 | Russell 2000® Index |
9/15/2005 | 10,000 | 10,000 |
7/31/2006 | 11,140 | 10,633 |
7/31/2007 | 13,280 | 11,922 |
7/31/2008 | 10,900 | 11,122 |
7/31/2009 | 7,030 | 8,817 |
7/31/2010 | 8,090 | 10,442 |
7/31/2011 | 10,603 | 12,940 |
7/31/2012 | 10,253 | 12,964 |
1 | Represents a hypothetical investment of $10,000 in the Fund after deducting applicable sales charges: For Class A Shares, the maximum sales charge of 5.50% ($10,000 investment minus $550 sales charge = $9,450); for Class C Shares, a 1.00% contingent deferred sales charge would be applied on any redemption less than one year from the purchase date. The Fund's performance assumes the reinvestment of all dividends and distributions. The Russell 2000® Index has been adjusted to reflect reinvestment of dividends on securities in the index. |
2 | The Fund is a successor to MDT Small Cap Core Fund pursuant to a reorganization that took place on December 8, 2006. Prior to that date, the Fund had no investment operations. Accordingly, the performance information shown for periods prior to that date is that of the MDT Small Cap Core Fund. |
3 | The Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000® Index, which represents approximately 10% of the total market capitalization of the Russell 3000® Index. The index is not adjusted to reflect sales charges, expenses or other fees that the Securities and Exchange Commission requires to be reflected in the Fund's performance. It is not possible to invest directly in an index. |
Industry Composition | Percentage of Total Net Assets |
Regional Banks | 5.3% |
Financial Services | 4.5% |
Specialty Retailing | 4.0% |
Computer Services | 3.7% |
Paper Products | 2.4% |
Specialty Chemicals | 2.4% |
Miscellaneous Components | 2.3% |
Oil Service, Explore & Drill | 2.3% |
Miscellaneous Food Products | 2.1% |
Oil Refiner | 1.9% |
Airline - Regional | 1.8% |
Other Tobacco Products | 1.8% |
Auto Original Equipment Manufacturers | 1.7% |
Biotechnology | 1.7% |
Crude Oil & Gas Production | 1.7% |
Electrical Equipment | 1.7% |
Hotels and Motels | 1.7% |
Airline - National | 1.6% |
Apparel | 1.6% |
Professional Services | 1.6% |
Property Liability Insurance | 1.6% |
Diversified Leisure | 1.5% |
Personal Loans | 1.5% |
Software Packaged/Custom | 1.5% |
Auto Rentals | 1.4% |
Life Insurance | 1.4% |
Education & Training Services | 1.3% |
Printing | 1.3% |
Telecommunication Equipment & Services | 1.3% |
Generic Drugs | 1.2% |
Multi-Line Insurance | 1.2% |
Office Supplies | 1.2% |
Recreational Vehicles | 1.2% |
Rubber | 1.2% |
Semiconductor Manufacturing | 1.2% |
Clothing Stores | 1.1% |
Construction Machinery | 1.1% |
Industry Composition | Percentage of Total Net Assets |
Health Care | 1.1% |
Commodity Chemicals | 1.0% |
Computer Networking | 1.0% |
Defense Electronics | 1.0% |
Medical Supplies | 1.0% |
Metal Fabrication | 1.0% |
Recreational Goods | 1.0% |
Toys & Games | 1.0% |
Other2 | 20.3% |
Cash Equivalents3 | 1.8% |
Other Assets and Liabilities—Net4 | (0.2)% |
TOTAL | 100.0% |
1 | Except for Cash Equivalents and Other Assets and Liabilities, industry classifications are based upon, and individual portfolio securities are assigned to, the classifications of the Global Industry Classification Standard (GICS) except that the Adviser assigns a classification to securities not classified by the GICS and to securities for which the Adviser does not have access to the classification made by the GICS. |
2 | For purposes of this table, industry classifications which constitute less than 1.0% of the Fund's total net assets have been aggregated under the designation “Other.” |
3 | Cash Equivalents include any investments in money market mutual funds and/or overnight repurchase agreements. |
4 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Shares | Value | ||
COMMON STOCKS—98.4% | |||
Accident & Health Insurance—0.1% | |||
1,087 | 1 | Triple-S Management Corp., Class B | $19,805 |
Agricultural Machinery—0.2% | |||
534 | Lindsay Manufacturing Co. | 37,861 | |
Airline - National—1.6% | |||
19,427 | 1 | Jet Blue Airways Corp. | 107,043 |
13,570 | 1 | US Airways Group, Inc. | 155,512 |
TOTAL | 262,555 | ||
Airline - Regional—1.8% | |||
6,676 | 1 | Alaska Air Group, Inc. | 232,659 |
674 | 1 | Allegiant Travel Co. | 47,894 |
5,614 | 1 | Republic Airways Holdings, Inc. | 25,544 |
TOTAL | 306,097 | ||
Aluminum—0.2% | |||
554 | Kaiser Aluminum Corp. | 30,215 | |
1,454 | Noranda Aluminum, Inc. | 9,059 | |
TOTAL | 39,274 | ||
Apparel—1.6% | |||
5,237 | 1 | Express, Inc. | 84,316 |
1,249 | 1 | Iconix Brand Group, Inc. | 22,145 |
3,720 | 1 | Warnaco Group, Inc. | 158,695 |
TOTAL | 265,156 | ||
Auto Original Equipment Manufacturers—1.7% | |||
11,958 | Dana Holding Corp. | 157,606 | |
4,292 | 1 | Modine Manufacturing Co. | 28,799 |
3,454 | 1 | Tenneco Automotive, Inc. | 101,168 |
TOTAL | 287,573 | ||
Auto Rentals—1.4% | |||
2,502 | 1 | AMERCO | 233,687 |
Biotechnology—1.7% | |||
7,850 | 1 | Cambrex Corp. | 72,456 |
12,413 | PDL BioPharma, Inc. | 84,284 | |
2,179 | 1 | Questcor Pharmaceuticals, Inc. | 80,340 |
1,434 | 1 | Theravance, Inc. | 41,772 |
TOTAL | 278,852 |
Shares | Value | ||
COMMON STOCKS—continued | |||
Broadcasting—0.5% | |||
2,504 | 1 | Fisher Communications, Inc. | $80,028 |
Building Materials—0.1% | |||
669 | Universal Forest Products, Inc. | 21,361 | |
Business Services—0.1% | |||
700 | 1 | Euronet Worldwide, Inc. | 12,796 |
Carpets—0.2% | |||
3,365 | Culp, Inc. | 33,650 | |
Cement—0.5% | |||
1,959 | Eagle Materials, Inc. | 68,075 | |
488 | Texas Industries, Inc. | 20,384 | |
TOTAL | 88,459 | ||
Clothing Stores—1.1% | |||
2,550 | 1 | Citi Trends, Inc. | 38,326 |
3,800 | Mens Wearhouse, Inc. | 103,550 | |
7,586 | 1 | New York & Co. | 34,516 |
TOTAL | 176,392 | ||
Commercial Services—0.0% | |||
377 | 1 | Darling International, Inc. | 6,228 |
Commodity Chemicals—1.0% | |||
2,494 | Innospec, Inc. | 77,613 | |
385 | Newmarket Corp. | 88,504 | |
TOTAL | 166,117 | ||
Computer Networking—1.0% | |||
1,951 | Black Box Corp. | 51,975 | |
9,449 | 1 | Cray, Inc. | 117,451 |
TOTAL | 169,426 | ||
Computer Peripherals—0.3% | |||
8,723 | 1 | Emulex Corp. | 56,438 |
Computer Services—3.7% | |||
4,359 | 1 | CACI International, Inc., Class A | 246,066 |
5,344 | 1 | Synnex Corp. | 180,787 |
778 | Syntel, Inc. | 45,225 | |
7,130 | 1 | Unisys Corp. | 138,536 |
TOTAL | 610,614 | ||
Computer Stores—0.6% | |||
8,469 | 1 | PC Connections, Inc. | 100,696 |
Construction Machinery—1.1% | |||
1,770 | NACCO Industries, Inc., Class A | 177,266 |
Shares | Value | ||
COMMON STOCKS—continued | |||
Cosmetics & Toiletries—0.2% | |||
2,393 | 1 | Revlon, Inc. | $34,818 |
Crude Oil & Gas Production—1.7% | |||
4,955 | 1 | Energy Partners Ltd. | 83,740 |
6,185 | Energy XXI (Bermuda) Ltd. | 192,848 | |
TOTAL | 276,588 | ||
Defense Aerospace—0.5% | |||
3,068 | 1 | Hexcel Corp. | 71,454 |
265 | Triumph Group, Inc. | 16,570 | |
TOTAL | 88,024 | ||
Defense Electronics—1.0% | |||
10,275 | Miller Industries, Inc. | 168,716 | |
Diversified Leisure—1.5% | |||
5,494 | 1 | Carmike Cinemas, Inc. | 76,367 |
667 | 1 | Coinstar, Inc. | 31,676 |
5,032 | 1 | Isle of Capri Casinos, Inc. | 29,538 |
7,817 | 1 | Multimedia Games Holding Company, Inc. | 110,610 |
TOTAL | 248,191 | ||
Education & Training Services—1.3% | |||
5,336 | 1 | Bridgepoint Education, Inc. | 48,558 |
1,324 | 1 | Capella Education Co. | 35,112 |
9,085 | 1 | Corinthian Colleges, Inc. | 18,352 |
2,844 | 1 | ITT Educational Services, Inc. | 110,404 |
TOTAL | 212,426 | ||
Electric & Electronic Original Equipment Manufacturers—0.6% | |||
3,580 | 1 | General Cable Corp. | 93,545 |
Electrical Equipment—1.7% | |||
6,855 | 1 | EnerSys, Inc. | 234,098 |
1,128 | Robbins & Myers, Inc. | 51,708 | |
TOTAL | 285,806 | ||
Electronics Stores—0.2% | |||
2,255 | 1 | Rex Stores Corp. | 39,801 |
Ethical Drugs—0.4% | |||
2,572 | 1 | Auxilium Pharmaceutical, Inc. | 69,290 |
Financial Services—4.5% | |||
8,823 | Deluxe Corp. | 249,867 | |
2,917 | 1 | Encore Capital Group, Inc. | 81,676 |
4,664 | 1 | Global Cash Access LLC | 30,130 |
8,258 | MainSource Financial Group, Inc. | 96,454 |
Shares | Value | ||
COMMON STOCKS—continued | |||
Financial Services—continued | |||
10,526 | Nelnet, Inc., Class A | $247,466 | |
455 | 1 | Portfolio Recovery Associates, Inc. | 38,529 |
TOTAL | 744,122 | ||
Food Wholesaling—0.3% | |||
1,552 | Nash Finch Co. | 29,736 | |
9,751 | SUPERVALU, Inc. | 24,085 | |
TOTAL | 53,821 | ||
Generic Drugs—1.2% | |||
4,151 | 1 | Hi-Tech Pharmacal Co., Inc. | 142,628 |
2,450 | 1 | Impax Laboratories, Inc. | 54,439 |
TOTAL | 197,067 | ||
Greeting Cards—0.6% | |||
7,686 | American Greetings Corp., Class A | 102,147 | |
Health Care—1.1% | |||
3,881 | 1 | USANA, Inc. | 174,567 |
Home Building—0.4% | |||
1,846 | M.D.C. Holdings, Inc. | 58,814 | |
Home Health Care—0.2% | |||
4,016 | 1 | Gentiva Health Services, Inc. | 26,747 |
Hospitals—0.5% | |||
7,891 | 1 | Select Medical Holdings Corp. | 84,039 |
Hotels and Motels—1.7% | |||
9,699 | Ameristar Casinos, Inc. | 163,622 | |
2,026 | Six Flags Entertainment Corp. | 116,718 | |
TOTAL | 280,340 | ||
Household Appliances—0.2% | |||
5,775 | 1 | hhgregg, Inc. | 39,732 |
Industrial Machinery—0.4% | |||
3,343 | Twin Disc, Inc. | 65,456 | |
Insurance Brokerage—0.4% | |||
1,513 | AmTrust Financial Services, Inc. | 45,072 | |
5,200 | Crawford & Co., Class B | 21,008 | |
TOTAL | 66,080 | ||
Internet Services—0.8% | |||
7,313 | 1 | Overstock.com, Inc. | 58,796 |
3,824 | 1 | Tree.com, Inc. | 49,406 |
6,969 | United Online, Inc. | 29,549 | |
TOTAL | 137,751 |
Shares | Value | ||
COMMON STOCKS—continued | |||
Life Insurance—1.4% | |||
6,924 | American Equity Investment Life Holding Co. | $80,803 | |
2,989 | Primerica, Inc. | 81,809 | |
5,868 | Symetra Financial Corp. | 68,245 | |
TOTAL | 230,857 | ||
Machine Tools—0.3% | |||
2,328 | 1 | Hurco Co., Inc. | 47,491 |
Machined Parts Original Equipment Manufacturers—0.6% | |||
4,578 | Titan International, Inc. | 94,627 | |
Maritime—0.5% | |||
7,711 | Frontline Ltd. | 28,531 | |
1,363 | TAL International Group, Inc. | 46,546 | |
TOTAL | 75,077 | ||
Medical Supplies—1.0% | |||
2,798 | 1 | Align Technology, Inc. | 95,020 |
4,691 | Invacare Corp. | 66,096 | |
TOTAL | 161,116 | ||
Medical Technology—0.6% | |||
281 | 1 | Abaxis, Inc. | 10,029 |
3,466 | 1 | Cynosure, Inc., Class A | 86,789 |
TOTAL | 96,818 | ||
Metal Fabrication—1.0% | |||
2,058 | 1 | NN, Inc. | 18,522 |
6,985 | Worthington Industries, Inc. | 151,575 | |
TOTAL | 170,097 | ||
Miscellaneous Components—2.3% | |||
15,110 | 1 | Amkor Technology, Inc. | 80,536 |
7,180 | 1 | Pericom Semiconductor Corp. | 57,727 |
1,139 | Power Integrations, Inc. | 40,138 | |
10,147 | 1 | Qlogic Corp. | 117,097 |
8,349 | 1 | Vishay Intertechnology, Inc. | 82,405 |
TOTAL | 377,903 | ||
Miscellaneous Food Products—2.1% | |||
8,120 | Fresh Del Monte Produce, Inc. | 198,940 | |
4,058 | The Anderson's, Inc. | 154,082 | |
TOTAL | 353,022 | ||
Miscellaneous Machinery—0.5% | |||
1,586 | John Bean Technologies Corp. | 23,235 |
Shares | Value | ||
COMMON STOCKS—continued | |||
Miscellaneous Machinery—continued | |||
5,734 | 1 | TMS International Corp. | $56,078 |
TOTAL | 79,313 | ||
Miscellaneous Metals—0.2% | |||
1,661 | Materion Corp | 32,605 | |
Money Center Bank—0.3% | |||
2,400 | MidWestOne Financial Group, Inc. | 51,072 | |
Multi-Industry Basic—0.3% | |||
2,276 | Olin Corp. | 46,066 | |
Multi-Industry Capital Goods—0.2% | |||
5 | 1 | DXP Enterprises, Inc. | 221 |
3,151 | 1 | Lydall, Inc. | 40,207 |
TOTAL | 40,428 | ||
Multi-Industry Transportation—0.9% | |||
6,147 | Brinks Co. (The) | 142,610 | |
Multi-Line Insurance—1.2% | |||
3,310 | Alterra Capital Holdings Ltd. | 77,024 | |
3,610 | FBL Financial Group, Inc., Class A | 111,730 | |
771 | Tower Group, Inc. | 14,371 | |
TOTAL | 203,125 | ||
Natural Gas Production—0.3% | |||
6,168 | 1 | VAALCO Energy, Inc. | 45,211 |
Office Supplies—1.2% | |||
9,163 | 1 | Acco Brands Corp. | 77,611 |
44 | Ennis Business Forms, Inc. | 631 | |
4,626 | United Stationers, Inc. | 116,621 | |
TOTAL | 194,863 | ||
Offshore Driller—0.1% | |||
3,142 | 1 | Newpark Resources, Inc. | 21,460 |
Oil Refiner—1.9% | |||
6,816 | Alon USA Energy, Inc. | 74,431 | |
9,973 | Western Refining, Inc. | 234,664 | |
TOTAL | 309,095 | ||
Oil Service, Explore & Drill—2.3% | |||
4,194 | 1 | C&J Energy Services, Inc. | 78,763 |
13,527 | 1 | Helix Energy Solutions Group, Inc. | 241,863 |
13,337 | 1 | Parker Drilling Co. | 61,750 |
TOTAL | 382,376 |
Shares | Value | ||
COMMON STOCKS—continued | |||
Optical Reading Equipment—0.4% | |||
2,060 | 1 | ScanSource, Inc. | $59,472 |
Other Tobacco Products—1.8% | |||
1,590 | Schweitzer-Mauduit International, Inc. | 108,279 | |
4,263 | Universal Corp. | 194,137 | |
TOTAL | 302,416 | ||
Packaged Foods—0.6% | |||
8,178 | 1 | Dole Food Co., Inc. | 96,255 |
Paint & Related Materials—0.0% | |||
2,288 | 1 | Ferro Corp. | 7,024 |
Paper Products—2.4% | |||
17,407 | 1 | Boise, Inc. | 128,812 |
2,908 | Buckeye Technologies, Inc. | 87,589 | |
6,817 | Neenah Paper, Inc. | 183,104 | |
TOTAL | 399,505 | ||
Personal Loans—1.5% | |||
4,976 | Cash America International, Inc. | 190,680 | |
725 | 1 | World Acceptance Corp. | 51,671 |
TOTAL | 242,351 | ||
Personnel Agency—0.8% | |||
1,826 | Barrett Business Services, Inc. | 47,695 | |
7,535 | Kelly Services, Inc., Class A | 89,365 | |
TOTAL | 137,060 | ||
Plastic—0.6% | |||
4,664 | Schulman (A.), Inc. | 101,955 | |
Printed Circuit Boards—0.7% | |||
4,567 | 1 | Sanmina-SCI Corp. | 39,002 |
6,540 | 1 | TTM Technologies | 71,548 |
TOTAL | 110,550 | ||
Printing—1.3% | |||
1,417 | 1 | Consolidated Graphics, Inc. | 33,597 |
2,394 | Quad Graphics, Inc. | 36,844 | |
6,383 | 1 | Valassis Communications, Inc. | 143,936 |
TOTAL | 214,377 | ||
Professional Services—1.6% | |||
4,481 | Carriage Services, Inc. | 36,207 | |
3,970 | 1 | FTI Consulting, Inc. | 101,354 |
6,903 | Hillenbrand, Inc. | 119,353 | |
TOTAL | 256,914 |
Shares | Value | ||
COMMON STOCKS—continued | |||
Property Liability Insurance—1.6% | |||
116 | 1 | American Safety Insurance Holdings, Ltd. | $2,071 |
5,930 | Meadowbrook Insurance Group, Inc. | 41,747 | |
1,374 | Platinum Underwriters Holdings Ltd. | 52,239 | |
1,854 | ProAssurance Corp. | 166,063 | |
TOTAL | 262,120 | ||
Recreational Goods—1.0% | |||
15,903 | 1 | Smith & Wesson Holding Corp. | 160,620 |
Recreational Vehicles—1.2% | |||
4,355 | 1 | Arctic Cat, Inc. | 191,620 |
Regional Banks—5.3% | |||
7,422 | 1 | Citizens Banking Corp. | 133,596 |
3,174 | Enterprise Financial Services Corp. | 39,834 | |
3,399 | Financial Institutions, Inc. | 58,463 | |
7,229 | 1 | First BanCorp | 27,326 |
11,071 | First Merchants Corp. | 157,540 | |
9,418 | 1 | Hanmi Financial Corp. | 103,127 |
3,206 | Heartland Financial USA, Inc. | 83,773 | |
4,104 | Peoples Bancorp, Inc. | 89,713 | |
3,270 | Republic Bancorp, Inc. | 77,205 | |
1,005 | Southside Bancshares, Inc. | 20,964 | |
12,745 | 1 | Wilshire Bancorp, Inc. | 80,803 |
TOTAL | 872,344 | ||
Restaurant—0.2% | |||
634 | 1 | Papa Johns International, Inc. | 32,340 |
Roofing & Wallboard—0.2% | |||
2,142 | 1 | USG Corp. | 34,786 |
Rubber—1.2% | |||
11,787 | Cooper Tire & Rubber Co. | 205,919 | |
Semiconductor Manufacturing—1.2% | |||
2,143 | 1 | Cirrus Logic, Inc. | 78,798 |
4,450 | 1 | Omnivision Technologies, Inc. | 62,389 |
5,751 | 1 | Spansion, Inc. | 58,948 |
TOTAL | 200,135 | ||
Semiconductor Manufacturing Equipment—0.7% | |||
7,153 | 1 | Mentor Graphics Corp. | 109,298 |
Shoes—0.3% | |||
3,507 | 1 | CROCs, Inc. | 53,832 |
Shares | Value | ||
COMMON STOCKS—continued | |||
Silver Production—0.1% | |||
828 | 1 | Coeur d'Alene Mines Corp. | $13,505 |
Software Packaged/Custom—1.5% | |||
4,319 | 1 | CSG Systems International, Inc. | 76,144 |
4,868 | ManTech International Corp., Class A | 106,755 | |
1,662 | 1 | SS&C Technologies Holdings, Inc. | 40,387 |
2,170 | 1 | Websense, Inc. | 32,572 |
TOTAL | 255,858 | ||
Specialty Chemicals—2.4% | |||
14,176 | 1 | Chemtura Corp. | 191,660 |
2,409 | Koppers Holdings, Inc. | 79,352 | |
2,896 | 1 | LSB Industries, Inc. | 93,049 |
4,748 | 1 | Omnova Solutions, Inc. | 34,565 |
TOTAL | 398,626 | ||
Specialty Machinery—0.7% | |||
2,449 | Cascade Corp. | 115,372 | |
Specialty Retailing—4.0% | |||
2,020 | 1 | Asbury Automotive Group, Inc. | 52,843 |
4,807 | 1 | Conn's, Inc. | 85,805 |
1,421 | GNC Acquisition Holdings, Inc. | 54,751 | |
1,109 | 1 | Hibbett Sports, Inc. | 67,394 |
3,065 | Lithia Motors, Inc., Class A | 85,391 | |
1,217 | 1 | Lumber Liquidators, Inc. | 51,467 |
6,864 | 1 | MarineMax, Inc. | 51,068 |
3,820 | Natures Sunshine Products, Inc. | 59,057 | |
6,013 | Sonic Automotive, Inc. | 102,943 | |
814 | 1 | Vitamin Shoppe Industries, Inc. | 44,705 |
TOTAL | 655,424 | ||
Telecommunication Equipment & Services—1.3% | |||
3,381 | 1 | Anixter International, Inc. | 192,413 |
325 | 1 | Mastec, Inc. | 5,187 |
1,527 | 1 | Ubiquiti Networks, Inc. | 21,592 |
TOTAL | 219,192 | ||
Telephone Utility—0.7% | |||
4,613 | 1 | Hawaiian Telcom Holdco, Inc. | 83,034 |
21,665 | 1 | Vonage Holdings Corp. | 38,780 |
TOTAL | 121,814 | ||
Textiles Apparel & Luxury Goods—0.7% | |||
3,345 | R.G. Barry Corp. | 44,556 |
Shares | Value | ||
COMMON STOCKS—continued | |||
Textiles Apparel & Luxury Goods—continued | |||
4,218 | The Jones Group, Inc. | $44,584 | |
2,412 | 1 | Unifi, Inc. | 26,725 |
TOTAL | 115,865 | ||
Toys & Games—1.0% | |||
14,140 | 1 | Leapfrog Enterprises, Inc. | 162,469 |
Water Utility—0.3% | |||
15,389 | Mueller Water Products, Inc. | 54,477 | |
TOTAL COMMON STOCKS (IDENTIFIED COST $15,710,572) | 16,296,946 | ||
MUTUAL FUND—1.8% | |||
296,930 | 2,3 | Federated Prime Value Obligations Fund, Institutional Shares, 0.22% (AT NET ASSET VALUE) | 296,930 |
TOTAL INVESTMENTS—100.2% (IDENTIFIED COST $16,007,502)4 | 16,593,876 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.2)%5 | (35,455) | ||
TOTAL NET ASSETS—100% | $16,558,421 |
1 | Non-income producing security. |
2 | Affiliated holding. |
3 | 7-Day net yield. |
4 | The cost of investments for federal tax purposes amounts to $16,077,448. |
5 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Year Ended July 31 | 2012 | 2011 | 2010 | 2009 | 2008 |
Net Asset Value, Beginning of Period | $9.88 | $7.55 | $6.58 | $10.21 | $13.22 |
Income From Investment Operations: | |||||
Net investment income (loss) | (0.06)1 | (0.09)1 | (0.06)1 | (0.04)1 | (0.08)1 |
Net realized and unrealized gain (loss) on investments | (0.30) | 2.42 | 1.03 | (3.59) | (2.22) |
TOTAL FROM INVESTMENT OPERATIONS | (0.36) | 2.33 | 0.97 | (3.63) | (2.30) |
Less Distributions: | |||||
Distributions from net realized gain on investments | — | — | — | — | (0.71) |
Net Asset Value, End of Period | $9.52 | $9.88 | $7.55 | $6.58 | $10.21 |
Total Return2 | (3.64)% | 30.86% | 14.74% | (35.55)% | (18.09)% |
Ratios to Average Net Assets: | |||||
Net expenses | 1.71% | 1.75% | 1.75% | 1.74% | 1.75% |
Net investment income (loss) | (0.65)% | (0.96)% | (0.77)% | (0.53)% | (0.68)% |
Expense waiver/reimbursement3 | 4.24% | 3.75% | 5.41% | 5.73% | 3.85% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $2,550 | $3,469 | $3,184 | $1,652 | $2,623 |
Portfolio turnover | 200% | 210% | 192% | 222% | 243% |
1 | Per share numbers have been calculated using the average shares method. |
2 | Based on net asset value, which does not reflect the sales charge, redemption fee or contingent deferred sales charge, if applicable. |
3 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. |
Year Ended July 31 | 2012 | 2011 | 2010 | 2009 | 2008 |
Net Asset Value, Beginning of Period | $9.45 | $7.28 | $6.39 | $9.99 | $13.04 |
Income From Investment Operations: | |||||
Net investment income (loss) | (0.12)1 | (0.15)1 | (0.11)1 | (0.08)1 | (0.16)1 |
Net realized and unrealized gain (loss) on investments | (0.29) | 2.32 | 1.00 | (3.52) | (2.18) |
TOTAL FROM INVESTMENT OPERATIONS | (0.41) | 2.17 | 0.89 | (3.60) | (2.34) |
Less Distributions: | |||||
Distributions from net realized gain on investments | — | — | — | — | (0.71) |
Net Asset Value, End of Period | $9.04 | $9.45 | $7.28 | $6.39 | $9.99 |
Total Return2 | (4.34)% | 29.81% | 13.93% | (36.04)% | (18.66)% |
Ratios to Average Net Assets: | |||||
Net expenses | 2.46% | 2.50% | 2.50% | 2.49% | 2.46% |
Net investment income (loss) | (1.41)% | (1.70)% | (1.53)% | (1.29)% | (1.40)% |
Expense waiver/reimbursement3 | 4.24% | 3.78% | 5.13% | 5.61% | 3.90% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $2,358 | $2,978 | $3,258 | $1,366 | $2,759 |
Portfolio turnover | 200% | 210% | 192% | 222% | 243% |
1 | Per share numbers have been calculated using the average shares method. |
2 | Based on net asset value, which does not reflect the sales charge, redemption fee or contingent deferred sales charge, if applicable. |
3 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. |
Year Ended July 31 | 2012 | 2011 | 2010 | 2009 | 2008 |
Net Asset Value, Beginning of Period | $10.00 | $7.63 | $6.63 | $10.28 | $13.28 |
Income From Investment Operations: | |||||
Net investment income (loss) | (0.04)1 | (0.06)1 | (0.04)1 | (0.02)1 | (0.05)1 |
Net realized and unrealized gain (loss) on investments | (0.29) | 2.43 | 1.04 | (3.63) | (2.24) |
TOTAL FROM INVESTMENT OPERATIONS | (0.33) | 2.37 | 1.00 | (3.65) | (2.29) |
Less Distributions: | |||||
Distributions from net realized gain on investments | — | — | — | — | (0.71) |
Net Asset Value, End of Period | $9.67 | $10.00 | $7.63 | $6.63 | $10.28 |
Total Return2 | (3.30)% | 31.06% | 15.08% | (35.51)% | (17.92)% |
Ratios to Average Net Assets: | |||||
Net expenses | 1.46% | 1.50% | 1.50% | 1.49% | 1.50% |
Net investment income (loss) | (0.44)% | (0.71)% | (0.52)% | (0.30)% | (0.43)% |
Expense waiver/reimbursement3 | 3.77% | 3.79% | 5.56% | 5.22% | 3.55% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $11,650 | $4,836 | $5,727 | $3,319 | $10,064 |
Portfolio turnover | 200% | 210% | 192% | 222% | 243% |
1 | Per share numbers have been calculated using the average shares method. |
2 | Based on net asset value. |
3 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. |
Assets: | ||
Total investment in securities, at value including $296,930 of investment in an affiliated holding (Note 5) (identified cost $16,007,502) | $16,593,876 | |
Income receivable | 4,663 | |
Receivable for investments sold | 444,727 | |
Receivable for shares sold | 2,701 | |
TOTAL ASSETS | 17,045,967 | |
Liabilities: | ||
Payable for investments purchased | $423,807 | |
Payable for shares redeemed | 6,706 | |
Payable to adviser (Note 5) | 1,691 | |
Payable for auditing fees | 23,400 | |
Payable for portfolio accounting fees | 11,190 | |
Payable for distribution services fee (Note 5) | 1,520 | |
Payable for shareholder services fee (Note 5) | 2,267 | |
Accrued expenses | 16,965 | |
TOTAL LIABILITIES | 487,546 | |
Net assets for 1,733,818 shares outstanding | $16,558,421 | |
Net Assets Consist of: | ||
Paid-in capital | $27,819,949 | |
Net unrealized appreciation of investments | 586,374 | |
Accumulated net realized loss on investments | (11,791,462) | |
Accumulated net investment income (loss) | (56,440) | |
TOTAL NET ASSETS | $16,558,421 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share | ||
Class A Shares: | ||
Net asset value per share ($2,549,800 ÷ 267,805 shares outstanding), no par value, unlimited shares authorized | $9.52 | |
Offering price per share (100/94.50 of $9.52) | $10.07 | |
Redemption proceeds per share | $9.52 | |
Class C Shares: | ||
Net asset value per share ($2,358,253 ÷ 260,828 shares outstanding), no par value, unlimited shares authorized | $9.04 | |
Offering price per share | $9.04 | |
Redemption proceeds per share (99.00/100 of $9.04) | $8.95 | |
Institutional Shares: | ||
Net asset value per share ($11,650,368 ÷ 1,205,185 shares outstanding), no par value, unlimited shares authorized | $9.67 | |
Offering price per share | $9.67 | |
Redemption proceeds per share | $9.67 |
Investment Income: | |||
Dividends (including $358 received from an affiliated holding (Note 5) and net of foreign taxes withheld of $284) | $111,607 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $123,792 | ||
Administrative fee (Note 5) | 230,000 | ||
Custodian fees | 26,553 | ||
Transfer and dividend disbursing agent fees and expenses | 40,781 | ||
Directors'/Trustees' fees | 1,510 | ||
Auditing fees | 23,400 | ||
Legal fees | 6,663 | ||
Portfolio accounting fees | 67,876 | ||
Distribution services fee (Note 5) | 18,386 | ||
Shareholder services fee (Note 5) | 13,005 | ||
Share registration costs | 38,339 | ||
Printing and postage | 20,413 | ||
Insurance premiums | 3,856 | ||
Miscellaneous | 4,673 | ||
TOTAL EXPENSES | 619,247 | ||
Waivers and Reimbursements (Note 5): | |||
Waiver/reimbursement of investment adviser fee | $(123,792) | ||
Waiver of administrative fee | (44,892) | ||
Reimbursement of other operating expenses | (261,783) | ||
TOTAL WAIVERS AND REIMBURSEMENTS | (430,467) | ||
Net expenses | 188,780 | ||
Net investment income (loss) | (77,173) | ||
Realized and Unrealized Loss on Investments: | |||
Net realized loss on investments | (9,436) | ||
Net change in unrealized appreciation of investments | (74,338) | ||
Net realized and unrealized loss on investments | (83,774) | ||
Change in net assets resulting from operations | $(160,947) |
Year Ended July 31 | 2012 | 2011 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $(77,173) | $(125,344) |
Net realized gain (loss) on investments | (9,436) | 3,964,172 |
Net change in unrealized appreciation/depreciation of investments | (74,338) | (563,516) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | (160,947) | 3,275,312 |
Share Transactions: | ||
Proceeds from sale of shares | 8,745,470 | 1,967,566 |
Cost of shares redeemed | (3,308,401) | (6,130,287) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 5,437,069 | (4,162,721) |
Change in net assets | 5,276,122 | (887,409) |
Net Assets: | ||
Beginning of period | 11,282,299 | 12,169,708 |
End of period (including accumulated net investment income (loss) of $(56,440) and $0, respectively) | $16,558,421 | $11,282,299 |
■ | 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. |
■ | Shares of other mutual funds are valued based upon their reported NAVs. |
■ | 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 Fund's Board of Trustees (the “Trustees”). |
■ | 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), which approximates market value. |
■ | Derivative contracts listed on exchanges are valued at their reported settlement or closing price. |
■ | Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Trustees. |
■ | For securities that are fair valued in accordance with procedures established by and under the general supervision of the Trustees, certain factors may be considered such as: the purchase price of the security, information obtained by contacting the issuer, analysis of the issuer's financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded and public trading in similar securities of the issuer or comparable issuers. |
■ | With respect to securities traded in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures or options 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, litigation developments, a natural disaster affecting the issuer's operations or regulatory changes or market developments affecting the issuer's industry. |
Year Ended July 31 | 2012 | 2011 | ||
Class A Shares: | Shares | Amount | Shares | Amount |
Shares sold | 37,994 | $344,850 | 94,156 | $934,802 |
Shares redeemed | (121,394) | (1,100,407) | (164,528) | (1,482,746) |
NET CHANGE RESULTING FROM CLASS A SHARE TRANSACTIONS | (83,400) | $(755,557) | (70,372) | $(547,944) |
Year Ended July 31 | 2012 | 2011 | ||
Class C Shares: | Shares | Amount | Shares | Amount |
Shares sold | 9,770 | $85,422 | 34,730 | $323,061 |
Shares redeemed | (64,102) | (552,087) | (167,010) | (1,449,906) |
NET CHANGE RESULTING FROM CLASS C SHARE TRANSACTIONS | (54,332) | $(466,665) | (132,280) | $(1,126,845) |
Year Ended July 31 | 2012 | 2011 | ||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 898,001 | $8,315,198 | 70,439 | $709,703 |
Shares redeemed | (176,188) | (1,655,907) | (337,454) | (3,197,635) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 721,813 | $6,659,291 | (267,015) | $(2,487,932) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 584,081 | $5,437,069 | (469,667) | $(4,162,721) |
Increase (Decrease) | |
Paid-In Capital | Undistributed Net Investment Income (Loss) |
$(20,733) | $20,733 |
Net unrealized appreciation | $516,428 |
Capital loss carryforwards and deferrals | $(11,777,956) |
Expiration Year | Short-Term | Long-Term | Total |
2016 | $488,605 | N/A | $488,605 |
2017 | $6,139,530 | N/A | $6,139,530 |
2018 | $5,093,381 | N/A | $5,093,381 |
Administrative Fee | Average Aggregate Daily Net Assets of the Federated Funds |
0.150% | on the first $5 billion |
0.125% | on the next $5 billion |
0.100% | on the next $10 billion |
0.075% | on assets in excess of $20 billion |
Share Class Name | Percentage of Average Daily Net Assets of Class |
Class A Shares | 0.05% |
Class C Shares | 0.75% |
Distribution Services Fees Incurred | |
Class C Shares | $18,386 |
Service Fees Incurred | |
Class A Shares | $6,876 |
Class C Shares | 6,129 |
TOTAL | $13,005 |
Federated Prime Value Obligations Fund, Institutional Shares | |
Balance of Shares Held 7/31/2011 | 116,597 |
Purchases/Additions | 3,570,494 |
Sales/Reductions | 3,390,161 |
Balance of Shares Held 7/31/2012 | 296,930 |
Value | $296,930 |
Dividend Income | $358 |
Purchases | $22,212,447 |
Sales | $24,639,296 |
September 24, 2012
Beginning Account Value 2/1/2012 | Ending Account Value 7/31/2012 | Expenses Paid During Period1 | |
Actual: | |||
Class A Shares | $1,000 | $988.60 | $8.41 |
Class C Shares | $1,000 | $984.70 | $12.09 |
Institutional Shares | $1,000 | $989.80 | $7.22 |
Hypothetical (assuming a 5% return before expenses): | |||
Class A Shares | $1,000 | $1,016.41 | $8.52 |
Class C Shares | $1,000 | $1,012.68 | $12.26 |
Institutional Shares | $1,000 | $1,017.60 | $7.32 |
1 | Expenses are equal to the Fund's annualized net expense ratios, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Class A Shares | 1.70% |
Class C Shares | 2.45% |
Institutional Shares | 1.46% |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held and Previous Position(s) |
John F. Donahue* Birth Date: July 28, 1924 Trustee Began serving: June 2006 | Principal Occupations: Director or Trustee of the Federated Fund Family; Chairman and Director, Federated Investors, Inc.; Chairman of the Federated Fund Family's Executive Committee. Previous Positions: Chairman of the Federated Fund Family; Trustee, Federated Investment Management Company; Chairman and Director, Federated Investment Counseling. |
J. Christopher Donahue* Birth Date: April 11, 1949 President and Trustee Began serving: May 2006 | Principal Occupations: Principal Executive Officer and President of the Federated Fund Family; Director or Trustee of some of the Funds in the Federated Fund Family; 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. |
* | 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) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Nicholas P. Constantakis, CPA Birth Date: September 3, 1939 Trustee Began serving: June 2006 | Principal Occupation: Director or Trustee of the Federated Fund Family. Other Directorship Held: Director, Chairman of the Audit Committee, and member of the Compensation Committee, Michael Baker Corporation (architecture, engineering and construction services). Previous Position: Partner, Andersen Worldwide SC. Qualifications: Public accounting and director experience. |
John F. Cunningham Birth Date: March 5, 1943 Trustee Began serving: June 2006 | Principal Occupation: Director or Trustee of the Federated Fund Family. Other Directorships Held: Chairman, President and Chief Executive Officer, Cunningham & Co., Inc. (strategic business consulting); Trustee Associate, Boston College. Previous Positions: Director, Redgate Communications and EMC Corporation (computer storage systems); Chairman of the Board and Chief Executive Officer, Computer Consoles, Inc.; President and Chief Operating Officer, Wang Laboratories; Director, First National Bank of Boston; Director, Apollo Computer, Inc. Qualifications: Business management and director experience. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Fund Family; Director, Office of Church Relations, Diocese of Pittsburgh; Adjunct Professor of Law, Duquesne University School of Law. Other Directorships Held: Director, Auberle; Member, Pennsylvania State Board of Education; Director, Saint Vincent College; Director, Ireland Institute of Pittsburgh; Chair and Director, UPMC Mercy Hospital; Regent, St. Vincent Seminary; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Saint Thomas More Society, Allegheny County; Director, Our Campaign for the Church Alive, Inc. Previous Position: Pennsylvania Superior Court Judge. Qualifications: Legal and director experience. |
Peter E. Madden Birth Date: March 16, 1942 Trustee Began serving: June 2006 | Principal Occupation: Director or Trustee, and Chairman of the Board of Directors or Trustees, of the Federated Fund Family. 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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Began serving: June 2006 | Principal Occupations: Director or Trustee of the Federated Fund Family; 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. |
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 Family; 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. |
John S. Walsh Birth Date: November 28, 1957 Trustee Began serving: June 2006 | Principal Occupations: Director or Trustee, Chairman of the Audit Committee of the Federated Fund Family; 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. |
Name Birth Date Address Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
John W. McGonigle Birth Date: October 26, 1938 Secretary Began serving: May 2006 | Principal Occupations: Executive Vice President and Secretary of the Federated Fund Family; 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. |
Richard A. Novak Birth Date: December 25, 1963 Treasurer Began serving: May 2006 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. Previous Positions: Controller of Federated Investors, Inc.; Vice President, Finance of Federated Services Company; held various financial management positions within The Mercy Hospital of Pittsburgh; Auditor, Arthur Andersen & Co. |
Brian P. Bouda Birth Date: February 28, 1947 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Began serving: June 2006 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Fund Family; Vice President and Chief Compliance Officer of Federated Investors, Inc. and Chief Compliance Officer of its subsidiaries. Mr. Bouda joined Federated in 1999 and is a member of the American Bar Association and the State Bar Association of Wisconsin. |
Stephen F. Auth Birth Date: September 3, 1956 450 Lexington Avenue Suite 3700 New York, NY 10017-3943 CHIEF INVESTMENT OFFICER Began serving: June 2012 | Principal Occupations: Stephen F. Auth is Chief Investment Officer of this Fund and various other Funds in the Federated Fund Complex; Executive Vice President, Federated Investment Counseling, Federated Global Investment Management Corp. and Federated Equity Management Company of Pennsylvania. Previous Positions: Executive Vice President, Federated Investment Management Company and Passport Research, Ltd. (investment advisory subsidiary of Federated); Senior Vice President, Global Portfolio Management Services Division; Senior Vice President, Federated Investment Management Company and Passport Research, Ltd.; Senior Managing Director and Portfolio Manager, Prudential Investments. |
Daniel Mahr Birth Date: April 9, 1981 125 High Street Oliver Tower 21st Floor Boston, MA 02110-2704 Vice President Began serving: June 2012 | Principal Occupations: Daniel Mahr has been the Fund's Portfolio Manager since August 2008. Mr. Mahr joined the MDT Advisers Investment Team in 2002. As Managing Director, Research, he is responsible for leading the Investment Team as it relates to the ongoing design, development and implementation of the Optimum Q Process. He is Vice President of the Trust with respect to the Fund. Mr. Mahr received his A.B., Computer Science from Harvard College and his S.M., Computer Science from Harvard University. |
Federated Investors Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 31421R791
CUSIP 31421R783
2012 ©Federated Investors, Inc.
Item 12. Exhibits
(a)(1) Code of Ethics- Not Applicable to this Annual Report.
(a)(2) Certifications of Principal Executive Officer and Principal Financial Officer.
(a)(3) Not Applicable.
(b) Certifications pursuant to 18 U.S.C. Section 1350.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant Federated MDT Series
By /S/ Richard A. Novak
Richard A. Novak, Principal Financial Officer
Date September 28, 2012
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By /S/ J. Christopher Donahue
J. Christopher Donahue, Principal Executive Officer
Date September 28, 2012
By /S/ Richard A. Novak
Richard A. Novak, Principal Financial Officer
Date September 28, 2012