The Markets January 7, 2008

S&P Releases Eco-Friendly Index

Standard&Poor’s has launched a new investable index seeking exposure to environmentally responsible investment strategies.
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An S&P news release said the S&P Global Eco Index provides diversified, liquid exposure to 30 of the largest publicly listed companies operating in ecology-related industries, including clean energy production, water utilities and infrastructure, timber, environmental services, and waste management.

The S&P Global Eco Index covers 12 countries with an adjusted market capitalization of $376.8 billion, including Brazil, Canada, Denmark, France, Germany, Great Britain, Hong Kong, Japan, Norway, Spain, Switzerland, and the United States.

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“Investors the world over have come to understand that climate change and environmental responsibility are pressing issues that may present significant investment risks and opportunities,” said Steven Goldin, Vice President, Portfolio Services for Standard & Poor’s, in the announcement. “By incorporating a diverse range of eco-friendly themes as well as adopting a global approach to a global challenge, the S&P Global Eco Index focuses on companies that have positioned themselves to address these challenges and this will in turn help investors to focus their investment decisions where there are potential environment-related economic benefits.”

To be eligible for inclusion in the S&P Global Eco Index, companies must have a listing on a developed market exchange, a total market capitalization of at least $1 billion, and a three-month average daily trading value of more than $2 million. S&P Global Eco Index constituents must also be a current member of the S&P Global Clean Energy Index, S&P Global Timber & Forestry Index, S&P Global Water Index, or the S&P/Citigroup Global Environmental Services Sector Index.

More information is available at www.standardandpoors.com/indices.

Products January 7, 2008

Federated, Kaufmann Unveil Large Cap Offering

Federated Investors has launched Federated Kaufmann Large Cap Fund, an equity fund that seeks to provide capital appreciation by investing in the securities of large companies.
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According to a news release, the new offering will be managed by Lawrence E. Auriana and Hans P. Utsch who will focus their bottom-up investment process on companies with prospects for sustainable growth.

The new fund’s primary benchmark is the Russell 1000 Growth Index. It may invest up to 30% of its assets in foreign securities.

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Federated will market Federated Kaufmann Large Cap Fund in A, C, IS, and K share classes through brokers/dealers, bank broker/dealers, and other financial intermediaries, the announcement said. A minimum investment of $1,500 is required for A and C share classes with subsequent investments of $100.

A minimum investment of $25,000 is required for IS shares. For A, C and K shares there is no minimum investment for retirement plans, but for IRA plans there is a $250 minimum initial investment and a $100 subsequent investment.

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