Federated Investors to Buy Wayne Hummer Growth Fund

Federated Investors Inc. (FII) has agreed to acquire the Wayne Hummer Growth Fund (WHGRX).

Following completion of the deal, the fund would be merged into the Federated Kaufmann Fund (KAUAX), which, like Hummer Growth, invests in mid-cap stocks. The merger is subject to approval by Hummer Growth’s shareholders.

Federated said in a regulatory filing that it will pay Wayne Hummer Asset Management Co., Hummer Growth’s investment advisor, a lump sum payment based on the fund’s assets when the reorganization is completed. Wayne Hummer Growth had $167.4 million in assets at the end of last year.