Federated Investors Inc., a Pittsburgh investment management company, said it has started a fund portfolio benchmarked against the standard trust index.
Federated Intermediate Government/Corporate Fund seeks total return with an emphasis on income by investing in a portfolio consisting primarily of U.S. government securities and investment-grade corporate bonds, including mortgage-backed securities, the company said on Thursday.
The fund, which is available to investors in institutional and institutional service shares, manages investments within a range of the sector allocations and duration of its benchmark, the Lehman Intermediate Government/Credit Index. Federated's fixed-income business includes two sector-specific mutual funds that are individually managed to track each component of this Lehman index and can be used as completion products in asset allocation strategies.
The fund is to be managed by Christopher J. Smith, a Federated vice president.
Federated, which managed about $205 billion of assets at June 30, offers 138 mutual funds, as well as separately managed account options.
