Securities and Exchange Commission May 5, 2011 – Federal Register Recent Federal Regulation Documents

Applicant seeks an order declaring that it has ceased to be an investment company. On September 18, 2009, applicant transferred its assets to Federated Clover Value Fund, a series of Federated Equity Funds, based on net asset value. Expenses of approximately $577,896 incurred in connection with the reorganization were paid by applicant, Federated Equity Management Company of Pennsylvania, applicant's investment adviser, or its affiliates. Filing Dates: The application was filed on April 12, 2011 and amended on April 26, 2011. Applicant's Address: Federated Investors Funds, 4000 Ericsson Dr., Warrendale, PA 15086-7561.