SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
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Federated Equity Funds
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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August 20, 2012
Name
Address
Address
Account Number
Dear Name:
Thank you for your continued investment in the Performance Family of Mutual Funds. We would like to notify you of an upcoming change in your Performance Funds investment and Individual Retirement Account (IRA). Pending shareholder approval, on September 21, 2012 your Performance Fund(s) will be reorganized into Federated Fund(s) and you will receive shares of the Federated Fund(s) in exchange for your Performance Fund(s).
Also, simultaneous with the reorganization, Fifth Third Bank will resign as the custodian of your IRA and State Street Bank and Trust Company will be the new custodian. This change of custodian does not require any action on your part.
You will receive additional information from the Federated Funds and/or State Street Bank and Trust Company regarding your IRA after the reorganization has occurred.
Due to the complexities of the laws governing distributions from IRAs, consult your tax advisor regarding proper tax planning with respect to the treatment of any distributionfrom your IRA.
If you do not want to participate in the reorganization, you may redeem your investment in the Performance Funds. Please call 1-800-737-3676 or contact your financial consultant to discuss alternatives or for any questions you may have regarding your account or this reorganization.
Sincerely,
Performance Funds
A prospectus/proxy statement with respect to the proposed transaction has been mailed to shareholders and filed with the Securities and Exchange Commission (SEC). Investors are urged to read the prospectus/proxy statement because it contains important information. The prospectus/proxy statement and other relevant documents are available free of charge on the SEC’s Web site atwww.sec.gov or by calling 1-800-341-7400.
![](https://capedge.com/proxy/425/0001318148-12-001391/image_008.gif)
August 21, 2012
Name
Address
Address
Dear Name,
Thank you for your continued investment in the Performance Family of Mutual Funds. We would like to notify you of the upcoming reorganization of the Performance Money Market Fund into the Federated Prime Obligations Fund. As a result, the Performance Money Market Fund will close and the checkwriting option on your account will no longer be available.
Please discontinue utilizing your Performance Money Market Fund checkwriting privileges. EffectiveSeptember 7, 2012,your Performance Funds checks will no longer be honored; this could result in nonpayment for a check and any such fees from other institutions related to this event. Please dispose of all old deposit tickets and unused checks. Additionally, be sure to locate any outstanding checks and present for payment immediately.
If you do not want to participate in the reorganization, you may redeem your investment in the Performance Funds. Please call 1-800-737-3673 or contact your financial consultant to discuss alternatives or for any questions you may have regarding your account or this reorganization.
Sincerely,
Performance Funds
A prospectus/proxy statement with respect to the proposed transaction has been mailed to shareholders and filed with the Securities and Exchange Commission (SEC). Investors are urged to read the prospectus/proxy statement because it contains important information. The prospectus/proxy statement and other relevant documents are available free of charge on the SEC’s Web site atwww.sec.gov or by calling 1-800-341-7400.