Federated Acquires Assets Of Prudent Bear Funds
July 21, 2008
President and CEO of Federated Investors, J. Christopher Donahue, recently announced Federated's acquisition of the Prudent Bear and Prudent Global Income Funds from David W. Tice & Associates at an initial price of $43 million with future contingent payments over the next four years of up to $100 million. These funds have an estimated net worth of $1.2 billion and $502 million, respectively. Federated has begun formulating contracts with current managers of the two funds, including Doug Noland and Patrick Ryan Bend. David W. Tice, will follow these funds to Federated, where he will become the chief portfolio strategist.
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