There was nothing in the first-quarter results from narrowmoat Federated Investors FII that would alter our longterm view on the firm. With the company’s assets under management (AUM) so heavily skewed toward money market funds, Federated continues to be affected not only by historically low interest rates (which require the use of fee waivers to keep fund costs from driving yields into negative territory) but … Continue reading Fee Waivers and Weaker Fund Flows Affect Federated’s First- Quarter Results; No Change to FVE