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Announcement

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Federated Investors to restructure funds ahead of European MMF reforms

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Federated Investors is planning to restructure its funds to comply with the regulation changes affecting European money market funds due to come into effect on 21 January 2019.

The changes will affect the structure, composition, valuation, liquidity requirement and information reporting of money market funds domiciled, managed or marketed in the European Union.
 
Based on discussions with clients and an examination of the effects of restructuring, Federated determined the implementation date of the changes should closely coincide with the compliance requirement date to allow clients time to prepare their systems. The company expects to announce the confirmed implementation date by the end of Q2 2018.
 
Federated intends to implement the following structure for its mutual funds: the Federated Short-Term Sterling Prime Fund will change from a Short Term CNAV to a Low Volatility MMF (LVN AV); the Federated Sterling Cash Plus Fund will remain as a Standard VNAV; the Federated Short-Term US Prime Fund will change from a Short Term CNAV to a Low Volatility MMF (LVN AV); the Federated Short-Term US Government Securities Fund will change from a Government CNAV to a Public Debt CNAV; while the Federated Short-Term US Treasury Securities Fund will change from a Government CNAV to a Public Debt CNAV.

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