The transition of
As of July 1, Boston Financial now executes the trades of and manages the funds of Federated, in a move that the companies said will "benefit both Federated and its mutual fund shareholders."
"This arrangement allows Federated to concentrate on our core competencies-providing competitive investment results, powerful product distribution and top quality customer service," said Federated CEO J. Christopher Donahue.
Federated predicted its income will rise between 1 cent and 2 cents per share in the first half of 2004 thanks to money saved by discontinuing its transfer agency services.
