Federated Investors Inc. in Pittsburgh has introduced three Federated Clover Value funds.

The Federated Clover Value Fund, Federated Clover Mid Value Fund and Federated Clover Small Value Fund are advised by Federated Clover Investment Advisors, the company said Monday.

Federated bought Clover Capital Management Inc. in Rochester, N.Y., in December and now operates under the Federated Clover name. The value fund uses the Russell 1000 Value Index as its primary benchmark, the mid value portfolio uses the Russell Midcap Value Index as its benchmark, and the small value fund uses the Russell 2000 Value Index as its benchmark.

Federated had $407 billion of assets under management as of Dec. 31.

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