-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WAVajSriTmebykbGEPF3b09FHWakpmiA5dOYxF3D2NJCyvml4S+3ghe42y/Ml57l mb+O7O8oTjO8J4n9+SdxRw== 0001193125-08-165076.txt : 20080804 0001193125-08-165076.hdr.sgml : 20080804 20080804171901 ACCESSION NUMBER: 0001193125-08-165076 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20080804 DATE AS OF CHANGE: 20080804 EFFECTIVENESS DATE: 20080804 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FEDERATED EQUITY FUNDS CENTRAL INDEX KEY: 0000745968 IRS NUMBER: 251470423 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-91090 FILM NUMBER: 08988897 BUSINESS ADDRESS: STREET 1: 5800 CORPORATE DRIVE CITY: PITTSBURGH STATE: PA ZIP: 15237-7000 BUSINESS PHONE: 8003417400 MAIL ADDRESS: STREET 1: 5800 CORPORATE DRIVE CITY: PITTSBURGH STATE: PA ZIP: 15237-7000 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED GROWTH TRUST/CGF/FED ADV/FEDMGT/FED INV DATE OF NAME CHANGE: 19930708 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FEDERATED EQUITY FUNDS CENTRAL INDEX KEY: 0000745968 IRS NUMBER: 251470423 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-04017 FILM NUMBER: 08988898 BUSINESS ADDRESS: STREET 1: 5800 CORPORATE DRIVE CITY: PITTSBURGH STATE: PA ZIP: 15237-7000 BUSINESS PHONE: 8003417400 MAIL ADDRESS: STREET 1: 5800 CORPORATE DRIVE CITY: PITTSBURGH STATE: PA ZIP: 15237-7000 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED GROWTH TRUST/CGF/FED ADV/FEDMGT/FED INV DATE OF NAME CHANGE: 19930708 0000745968 S000009728 Federated Capital Appreciation Fund C000026725 Class A Shares FEDEX C000026726 Class B Shares CPABX C000026727 Class C Shares CPACX C000026728 Class K Shares CPAKX C000060702 Institutional Shares 485BPOS 1 d485bpos.htm FEDERATED EQUITY FUNDS Federated Equity Funds

1933 Act File No. 2-91090

1940 Act File No. 811-4017

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-1A

 

 

 

REGISTRATION STATEMENT

UNDER THE SECURITIES ACT OF 1933

   x
Pre-Effective Amendment No.   ¨
Post-Effective Amendment No. 94   x
 
and/or  
 

REGISTRATION STATEMENT

  
UNDER
THE INVESTMENT COMPANY ACT OF 1940		   x
Amendment No. 88   x

 

 

FEDERATED EQUITY FUNDS

(Exact name of Registrant as Specified in Charter)

 

 

 

 

Federated Investors Funds

5800 Corporate Drive,

Pittsburgh, Pennsylvania 15237-7000

(Address of Principal Executive Offices)

(412) 288-1900

(Registrant’s Telephone Number)

 

John W. McGonigle, Esquire,
Federated Investors Tower
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)

 

 

It is proposed that this filing will become effective:

 

¨ immediately upon filing pursuant to paragraph (b)

 

x on December 28, 2007, pursuant to paragraph (b)

 

¨ 60 days after filing pursuant to paragraph (a)(i)

 

¨ on _______________ pursuant to paragraph (a)(i).

 

¨ 75 days after filing pursuant to paragraph (a)(ii)

 

¨ on _________________ pursuant to paragraph (a)(ii) of Rule 485.

If appropriate, check the following box:

 

¨ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, and the Investment Company Act of 1940, the Registrant, FEDERATED EQUITY FUNDS certifies that it meets all of the requirements for effectiveness of this Amendment to its Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Pittsburgh and Commonwealth of Pennsylvania, on the 4th day of August, 2008.

 

FEDERATED EQUITY FUNDS
BY:   /S/     C. Grant Anderson
 

C. Grant Anderson,

Assistant Secretary

Pursuant to the requirements of the Securities Act of 1933, this Amendment to its Registration Statement has been signed below by the following person in the capacity and on the date indicated:

 

NAME

   

TITLE

  

DATE

BY: /S/ C. Grant Anderson    Attorney In Fact   August 4, 2008
C. Grant Anderson    For the Persons  
Assistant Secretary    Listed Below  

NAME

   

TITLE

    
John F. Donahue*    Trustee  
J. Christopher Donahue*    President and Trustee  
   (Principal Executive Officer)  
Richard A. Novak*    Treasurer  
   (Principal Financial Officer)  
Thomas G. Bigley*    Trustee  
John T. Conroy, Jr.*    Trustee  
Nicholas P. Constantakis*    Trustee  
John F. Cunningham*    Trustee  
Peter E. Madden*    Trustee  
Charles F. Mansfield, Jr.*    Trustee  
John E. Murray, Jr., J.D., S.J.D.*    Trustee  
R. James Nicholson*    Trustee  
Thomas M. O’Neill*    Trustee  
Marjorie P. Smuts*    Trustee  
John S. Walsh*    Trustee  
James F. Will*    Trustee  

 

* By Power of Attorney

Federated Capital Appreciation Fund

A portfolio of Federated Equity Funds

Post-Effective Amendment No. 94

Users of the data in the following exhibits are advised that, pursuant to the rules and regulations governing the voluntary filing of XBRL tagged disclosure, these exhibits are not the official publicly filed disclosure of Federated Capital Appreciation Fund, a portfolio of Federated Equity Funds. The purpose of submitting these XBRL tagged exhibits is to test the related format and technology and, as a result, investors should not rely on this information in making investment decisions.

 

Exhibit List.     
EX-100.INS    XBRL INSTANCE DOCUMENT
EX-100.SCH    XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT
EX-100.DEF    XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
EX-100.LAB    XBRL TAXONOMY EXTENSION LABEL LINKBASE
 EX-100.INS 2 fedauginstance.xml XBRL INSTANCE DOCUMENT iso4217:USD pure 0000745968 ici-rr:Registrant_item 2008-08-04 0000745968 fedtdrrt:GroupC000060702 2008-08-04 0000745968 fedtdrrt:C000060702 2008-08-04 0000745968 fedtdrrt:GroupC000026728C000060702 2008-08-04 0000745968 fedtdrrt:GroupC000026728 2008-08-04 0000745968 fedtdrrt:C000026728 2008-08-04 0000745968 fedtdrrt:GroupC000026727 2008-08-04 0000745968 fedtdrrt:C000026727 2008-08-04 0000745968 fedtdrrt:GroupC000026726 2008-08-04 0000745968 fedtdrrt:C000026726 2008-08-04 0000745968 fedtdrrt:GroupC000026725 2008-08-04 0000745968 fedtdrrt:C000026725 2008-08-04 0000745968 fedtdrrt:GroupC000026725C000026726C000026727 2008-08-04 0000745968 fedtdrrt:S000009728 2008-08-04 WHAT IS THE FUND’S INVESTMENT OBJECTIVE? The Fund’s investment objective is to provide capital appreciation. While there is no assurance that the Fund will achieve its investment objective, it endeavors to do so by following the strategies and policies described in this prospectus. WHAT ARE THE FUND’S MAIN INVESTMENT STRATEGIES? The Fund pursues its investment objective by investing primarily in common stock of domestic companies with large and medium market capitalizations that offer superior growth prospects or of companies whose stock is undervalued. The Fund may also invest in common stocks of foreign issuers (including American Depository Receipts (ADRs). WHAT ARE THE MAIN RISKS OF INVESTING IN THE FUND? All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund’s returns include: Stock Market Risks. The value of equity securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s Share price may decline suddenly or over a sustained period of time. Liquidity Risks. The equity securities in which the Fund invests may be less readily marketable and may be subject to greater fluctuation in price than other securities. Risks Related to Company Size. Because the smaller companies in which the Fund may invest may have unproven track records, a limited product or service base and limited access to capital, they may be more likely to fail than larger companies. Sector Risks. Because the Fund may allocate relatively more assets to certain industry sectors than others, the Fund’s performance may be more susceptible to any developments which affect those sectors emphasized by the Fund. Risks of Foreign Investing. Because the Fund may invest in securities issued by foreign companies, the Fund’s Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than could otherwise be the case. Custodial Services and Related Investment Costs. Custodial services and other costs relating to investment in international securities markets generally are more expensive than in the United States. Such markets have settlement and clearance procedures that differ from those in the United States. The inability of the Fund to make intended securities purchases due to settlement problems could cause the Fund to miss attractive investment opportunities. Currency Risks. Exchange rates for currencies fluctuate daily. The combination of currency risk and market risk tends to make securities traded in foreign markets more volatile than securities traded exclusively in the U.S. Risks of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this prospectus or the Fund’s Statement of Additional Information (SAI), such as stock market, interest rate, credit, currency, liquidity and leverage risks. The Shares offered by this prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other government agency. Risk/Return Bar Chart and Table - Institutional Shares The Fund’s Institutional Shares is a new class of shares, and is expected to commence operations on December 28, 2007. The Fund offers four other classes of shares, Class A Shares, Class B Shares, Class C Shares and Class K Shares. For the period prior to the commencement of operations of Institutional Shares, the performance information shown in the bar chart below is for the Fund’s Class A Shares. The performance of the Class A Shares has not been adjusted to reflect the expenses of the Institutional Shares since the Institutional Shares are estimated to have a lower expense ratio than the expense ratio of the Class A Shares. The performance of the Class A Shares shown in the bar chart and table has been adjusted to remove any voluntary waiver of Fund expenses related to the Class A Shares that may have occurred during the period prior to commencement of operations of the Institutional Shares. The performance information shown below will help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s Institutional Shares total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns averaged over the stated periods, and includes comparative performance information. The Fund’s performance will fluctuate, and past performance (before and after taxes) is no guarantee of future results. Federated Capital Appreciation Fund - Institutional Shares (Class A Shares Performance) 1997 0.3062000000 1998 0.2007000000 1999 0.4339000000 2000 -0.0376000000 2001 -0.0619000000 2002 -0.1876000000 2003 0.2381000000 2004 0.0719000000 2005 0.0192000000 2006 0.1600000000 The Fund’s Class A Shares are sold with a sales charge (load). The total returns shown in the bar chart above are based upon net asset value. The Fund’s Class A Shares total return, as adjusted above for the nine-month period from January 1, 2007 to September 30, 2007 was 13.31%. Within the period shown in the bar chart, the Fund’s Class A Shares as adjusted above highest quarterly return was 27.57% (quarter ended December 31, 1999). Its lowest quarterly return was (17.40)% (quarter ended September 30, 2002). Average Annual Total Returns - Institutional Shares As previously discussed, the Fund’s Institutional Shares is a new class of shares, which is expected to commence operations on December 28, 2007. Accordingly, for the period prior to the commencement of operations, the performance information shown in the Average Total Return Table is for the Fund’s Class A Shares, adjusted to reflect the absence of sales charges and adjusted to remove any voluntary waiver of Fund expenses related to the Class A Shares that may have occurred prior to commencement of operations of the Institutional Shares. Return Before Taxes is show. In addition, Return After Taxes is shown to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor’s personal tax situation, and are likely to differ from those shown. The table also shows returns for the Standard & Poor’s 500 Index (S&P 500), a broad-based market index, and the Lipper Large Cap Core Funds Average (LLCCFA), an average of funds with similar objectives. Index returns do not reflect taxes, sales charges, expenses or other fees that the SEC requires to be reflected in the Fund’s performance. Indexes are unmanaged and it is not possible to invest directly in an index or an average. (For the Periods Ended December 31, 2006) Institutional Shares 1 Year 5 Years 10 Years 1 Year 5 Years 10 Years Return Before Taxes Return Before Taxes Return Before Taxes Return Before Taxes Return Before Taxes 0.1600000000 0.1546000000 0.1410000000 0.0977000000 0.0962000000 0.0497000000 0.0451000000 0.0416000000 0.0383000000 0.0380000000 0.0998000000 0.0948000000 0.0914000000 0.0933000000 0.0935000000 Return After Taxes on Distributions Return After Taxes on Distributions Return After Taxes on Distributions 1 1 1 0.1243000000 0.1203000000 0.0625000000 0.0414000000 0.0379000000 0.0298000000 0.0868000000 0.0845000000 0.0806000000 Return After Taxes on Distributions and Sale of Fund Shares Return After Taxes on Distributions and Sale of Fund Shares Return After Taxes on Distributions and Sale of Fund Shares 1 1 1 0.1322000000 0.1287000000 0.0892000000 0.0408000000 0.0373000000 0.0306000000 0.0826000000 0.0802000000 0.0769000000 1 After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. Return After Taxes on Distributions assumes a continued investment in the Fund and shows the effect of taxes on Fund distributions. Return After Taxes on Distributions and Sale of Fund Shares assumes all Shares were redeemed at the end of each measurement period, and shows the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on Fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as IRA or 401(k) plans. 3 Lipper figures represent the average of the total returns reported by all of the mutual funds designated by Lipper, Inc. as falling in the category indicated. These figures do not reflect sales charges. Investments cannot be made directly in an average. Average Annual Total Returns - Class K As previously discussed, the Fund’s Class K Shares commenced operations on April 8, 2003. Accordingly, for the period prior to the commencement of operations, the performance information shown in the Average Annual Total Return Table is for the Fund’s Class A Shares, adjusted to reflect the expenses of Class K Shares. Return Before Taxes is shown. In addition, Return After Taxes is shown for the Fund’s Class K Shares to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor’s personal tax situation, and are likely to differ from those shown. The table also shows returns for the S&P 500 Index (S&P 500), a broad-based market index, and the Lipper Large Cap Core Funds Average (LLCCFA), an average of funds with similar objectives. Index returns do not reflect taxes, sales charges, expenses or other fees that the SEC requires to be reflected in the Fundȁ 9;s performance. The index is unmanaged and, unlike the Fund, is not affected by cashflows. It is not possible to invest directly in an index or an average. (For the Periods Ended December 31, 2006) S&P 500 LLCCFA S&P 500 LLCCFA S&P 500 LLCCFA S&P 500 LLCCFA 2 3 3 4 3 4 3 4 0.1579000000 0.1387000000 0.1579000000 0.1387000000 0.1579000000 0.1387000000 0.1579000000 0.1387000000 0.0619000000 0.0510000000 0.0619000000 0.0510000000 0.0619000000 0.0510000000 0.0619000000 0.0510000000 0.0842000000 0.0705000000 0.0842000000 0.0705000000 0.0842000000 0.0705000000 0.0842000000 0.0705000000 2 The S&P 500 Index is an unmanaged capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. Investments cannot be made in an index. Risk/Return Bar Chart and Table - Class K The Fund’s Class K Shares commenced operations on April 8, 2003. The Fund offers four other classes of shares: Class A Shares, Class B Shares, Class C Shares and Institutional Shares. For the period prior to the commencement of operations of the Class K Shares, the performance information shown in the bar chart below is for the Fund’s Class A Shares, adjusted to reflect the expenses of Class K Shares. The performance information shown below will help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s Class K Shares total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns averaged over the stated periods, and includes comparative performance information. The Fund’s performance will fluctuate, and past performance (before and after taxes) is no guarantee of future results. Federated Capital Appreciation Fund - Class K Shares 1997 0.3003000000 1998 0.1953000000 1999 0.4275000000 2000 -0.0421000000 2001 -0.0664000000 2002 -0.1916000000 2003 0.2336000000 2004 0.0673000000 2005 0.0146000000 2006 0.1546000000 The Fund’s Class K Shares are sold without a sales charge (load). The total returns shown in the bar chart above are based upon net asset value. The Fund’s Class K Shares total return for the nine-month period from January 1, 2007 to September 30, 2007 was 12.93%. Within the period shown in the bar chart, the Fund’s Class K Shares highest quarterly return was 27.44% (quarter ended December 31, 1999). Its lowest quarterly return was (17.51)% (quarter ended September 30, 2002). (For the Periods Ended December 31, 2006) Class K 1 Year 5 Years 10 Years 1 After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. Return After Taxes on Distributions assumes a continued investment in the Fund and shows the effect of taxes on Fund distributions. Return After Taxes on Distributions and Sale of Fund Shares assumes all Shares were redeemed at the end of each measurement period, and shows the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on Fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as IRA or 401(k) plans. 3 Lipper figures represent the average of the total returns reported by all of the mutual funds designated by Lipper, Inc. as falling in the category indicated. These figures do not reflect sales charges. Investments cannot be made in an average. (For the Periods Ended December 31, 2006) 2 Class C 2 Historical returns do not include the effect of 1.00% front-end sales charge on Class C Shares purchased prior to February 1, 2007. Effective February 1, 2007, this sales charge was eliminated. (For the Periods Ended December 31, 2006) Class B 1 Year 5 Years 10 Years Risk/Return Bar Chart and Table - Class A, B, C The performance information shown below will help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s Class A Shares total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns averaged over the stated periods, and includes comparative performance information. The Fund’s performance will fluctuate, and past performance (before and after taxes) is no guarantee of future results. Federated Capital Appreciation Fund – Class A Shares 1997 0.3062000000 1998 0.2007000000 1999 0.4339000000 2000 -0.0376000000 2001 -0.0619000000 2002 -0.1876000000 2003 0.2381000000 2004 0.0719000000 2005 0.0192000000 2006 0.1600000000 The total returns shown in the bar chart do not reflect the payment of any sales charges or recurring shareholder account fees. If these charges or fees had been included, the returns shown would have been lower. The Fund’s Class A Shares total return for the nine-month period from January 1, 2007 to September 30, 2007 was 13.31%. Within the period shown in the bar chart, the Fund’s Class A Shares highest quarterly return was 27.57% (quarter ended December 31, 1999). Its lowest quarterly return was (17.40)% (quarter ended September 30, 2002). Average Annual Total Returns - Class A, B, C The Average Annual Total Returns for the Fund’s Class A Shares, Class B Shares, and Class C Shares are reduced to reflect applicable sales charges. Return Before Taxes is shown for all classes. In addition, Return After Taxes is shown for the Fund’s Class A Shares to illustrate the effect of federal taxes on Fund returns. Actual after-tax returns depend on each investor’s personal tax situation, and are likely to differ from those shown. The table also shows returns for the Standard & Poor’s 500 Index (S&P 500), a broad-based market index, and the Lipper Large Cap Core Funds Average (LLCCFA), an average of funds with similar objectives. Index returns do not reflect taxes, sales charges, expenses or other fees that the SEC requires to be reflected in the Fund’s performance. The index is unmanaged and, unlike the Fund, is not affected by cashflows. It is not possible to invest d irectly in an index or an average. (For the Periods Ended December 31, 2006) Class A 1 Year 5 Years 10 Years 1 After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. Return After Taxes on Distributions assumes a continued investment in the Fund and shows the effect of taxes on Fund distributions. Return After Taxes on Distributions and Sale of Fund Shares assumes all Shares were redeemed at the end of each measurement period, and shows the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on Fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. After tax returns for Class B Shares and Class C Shares will differ from those shown above for Class A Shares. After-tax returns are not relevant to investors holding Shares through tax-deferred programs, such as IRA or 401(k) plans. 3 The S&P 500 Index is an unmanaged capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. Investments cannot be made in an index. 4 Lipper figures represent the average of the total returns reported by all of the mutual funds designated by Lipper, Inc. as falling in the category indicated. These figures do not reflect sales charges. Investments cannot be made directly in an average. WHAT ARE THE FUND’S FEES AND EXPENSES? - Institutional Shares This table describes the fees and expenses that you may pay if you buy and hold Institutional Shares of the Fund. Shareholder Fees Fees Paid Directly From Your Investment Institutional Shares Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) Redemption Fee (as a percentage of amount redeemed, if applicable) Exchange Fee Annual Fund Operating Expenses (Before Anticipated Reimbursement) - Expenses That are Deducted From Fund Assets (as a percentage of average net assets) 1 Institutional Shares Management Fee 0.0075000000 Distribution (12b-1) Fee Other Expenses 0.0020000000 Total Annual Fund Operating Expenses 0.0095000000 1 The percentages shown are based on anticipated expenses for the entire fiscal year ending October 31, 2008. However, the rate at which expenses are accrued during the fiscal year may not be constant and, at any particular point, may be greater or less than the stated average percentage. EXAMPLE - Institutional Shares This Example is intended to help you compare the cost of investing in the Fund’s Institutional Shares with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund’s Institutional Shares for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s Institutional Shares operating expenses are as shown in the table and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: Expenses assuming redemption Share Class Institutional Shares 1 Year 97.0000000000 3 Years 303.0000000000 5 Years 525.0000000000 10 Years 1166.0000000000 WHAT ARE THE FUND’S FEES AND EXPENSES? - Class K This table describes the fees and expenses that you may pay if you buy and hold Class K Shares of the Fund. Shareholder Fees - Fees Paid Directly From Your Investment Class K Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) Redemption Fee (as a percentage of amount redeemed, if applicable) Exchange Fee Annual Fund Operating Expenses (Before Waiver) - Expenses That are Deducted From Fund Assets (as a percentage of average net assets) 1 Class K Management Fee 0.0075000000 Distribution (12b-1) Fee 0.0050000000 Other Expenses 2 0.0044000000 Total Direct Annual Fund Operating Expenses 0.0169000000 Acquired Fund Fees and Expenses 3 0.0001000000 Total Direct and Acquired Annual Fund Operating Expenses 0.0170000000 1 The percentages shown are based on expenses for the entire fiscal year ended October 31, 2007. However, the rate at which expenses are accrued during the fiscal year may not be constant and, at any particular point, may be greater or less than the stated average percentage. Total Waiver of Fund Expenses, 0.01%; Total Direct and Acquired Annual Fund Operating Expenses (after waiver), 1.69% 2 Includes a recordkeeping fee which is used to compensate intermediaries for recordkeeping services. Please see “Payments to Financial Intermediaries” herein. The administrator voluntarily waived a portion of its fee. The administrator can terminate this voluntary waiver at any time. Total other expenses paid by the Fund’s Class K Shares (after the voluntary waiver) were 0.43% for the fiscal year ended October 31, 2007. 3 The Fund’s shareholders indirectly bear the expenses of the acquired fund in which the Fund invests. The Fund’s indirect expense from investing in the acquired fund is based upon the average allocation of the Fund’s investment in the acquired fund and upon the actual total operating expenses of the acquired fund (including any current waivers and expense limitations) from its most recent shareholder report. Actual acquired fund expenses incurred by the Fund may vary with changes in the allocation of the Fund’s assets invested into the acquired fund and with other events that directly affect the expenses of the acquired fund. EXAMPLE - Class K This Example is intended to help you compare the cost of investing in the Fund’s Class K Shares with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund’s Class K Shares for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s Class K Shares operating expenses are as shown in the table and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: Expenses assuming redemption Share Class Class K 1 Year 173.0000000000 3 Years 536.0000000000 5 Years 923.0000000000 10 Years 2009.0000000000 Shareholder Fees - Fees Paid Directly From Your Investment Class C Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) 0.0100000000 Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) Redemption Fee (as a percentage of amount redeemed, if applicable) Exchange Fee Annual Fund Operating Expenses (Before Anticipated Reductions) Expenses That are Deducted From Fund Assets (as a percentage of average net assets) 1 Class C Management Fee 0.0075000000 Distribution (12b-1) Fee 0.0075000000 Other Expenses 3 0.0051000000 Total Direct Annual Fund Operating Expenses 0.0201000000 Acquired Fund Fees and Expenses 4 0.0001000000 Total Direct and Acquired Annual Fund Operating Expenses 0.0202000000 Shareholder Fees - Fees Paid Directly From Your Investment Class B Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) 0.0550000000 Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) Redemption Fee (as a percentage of amount redeemed, if applicable) Exchange Fee Annual Fund Operating Expenses (Before Anticipated Reductions) Expenses That are Deducted From Fund Assets (as a percentage of average net assets) 1 Class B Management Fee 0.0075000000 Distribution (12b-1) Fee 0.0075000000 Other Expenses 3 0.0053000000 Total Direct Annual Fund Operating Expenses 0.0203000000 Acquired Fund Fees and Expenses 4 0.0001000000 Total Direct and Acquired Annual Fund Operating Expenses 5 0.0204000000 5 After Class B Shares have been held for eight years from the date of purchase, they will automatically convert to Class A Shares on or about the last day of the following month. Class A Shares pay lower operating expenses than Class B Shares. WHAT ARE THE FUND’S FEES AND EXPENSES? - Class A, B, C This table describes the fees and expenses that you may pay if you buy and hold Class A Shares, Class B Shares and Class C Shares of the Fund. Shareholder Fees - Fees Paid Directly From Your Investment Class A Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 0.0550000000 Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) 0.0000000000 Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) Redemption Fee (as a percentage of amount redeemed, if applicable) Exchange Fee Annual Fund Operating Expenses (Before Anticipated Reductions) Expenses That are Deducted From Fund Assets (as a percentage of average net assets) 1 Class A Management Fee 0.0075000000 Distribution (12b-1) Fee 2 0.0005000000 Other Expenses 3 0.0049000000 Total Direct Annual Fund Operating Expenses 0.0129000000 Acquired Fund Fees and Expenses 4 0.0001000000 Total Direct and Acquired Annual Fund Operating Expenses 0.0130000000 2 The Fund’s Class A Shares has no present intention of paying or accruing the distribution (12b-1) fee during the fiscal year ending October 31, 2008. The Fund’s Class A Shares did not pay or accrue the distribution (12b-1) fee for the fiscal year ended October 31, 2007. Effective November 15, 2007, upon approval of the Fund’s Trustees, the distribution services agreement for the Fund’s Class A Shares was amended to reduce the distribution services fee for the Fund’s Class A Shares from 0.25% to 0.05%. 1 The percentages shown are based on anticipated expenses for the entire fiscal year ending October 31, 2008. However, the rate at which expenses are accrued during the fiscal year may not be constant and, at any particular point, may be greater or less than the stated average percentage. Although not contractually obligated to do so, the distributor and shareholder services provider expect not to charge certain amounts. These are shown below along with the net expenses the Fund’s Class A Shares, Class B Shares and Class C Shares expect to pay for the fiscal year ending October 31, 2008. Total Anticipated Reductions of Fund Expenses : Class A 0.06%, Class B 0.00%, and Class C 0.01%. Total Anticipated Direct and Acquired Annual Fund Operating Expenses (after anticipated reductions)6: Class A 1.24%, Class B 2.04%, and Class C 2.01%. 3 Includes a shareholder services fee/account administration fee which is used to compensate intermediaries for shareholder services or account administrative services. Also includes a recordkeeping fee which is used to compensate intermediaries for recordkeeping services. Please see “Payments to Financial Intermediaries” herein. The shareholder services provider expects not to charge, and therefore the Fund’s Class A Shares and Class C Shares will not accrue, a portion of their fee. Total other expenses paid by the Fund’s Class A Shares and Class C Shares (after the anticipated reduction) are expected to be 0.48% and 0.50%, respectively, for the fiscal year ending October 31, 2008. 4 The Fund’s shareholders indirectly bear the expenses of the acquired funds in which the Fund invests. The Fund’s estimated indirect expense from investing in the acquired funds is based upon the average allocation of the Fund’s investment in the acquired funds and upon the actual total operating expenses of the acquired funds (including any current waivers and expense limitations) from its most recent shareholder report. Actual acquired fund expenses incurred by the Fund may vary with changes in the allocation of the Fund’s assets invested into the acquired funds and with other events that directly affect the expenses of the acquired funds. 6 The Total Actual Annual Fund Operating Expenses for the Fund’s Class A Shares, Class B Shares and Class C Shares (after waiver, reimbursement and reduction, but excluding “Acquired Fund Fees and Expenses”) were 1.23%, 2.03% and 2.01%, respectively, for the fiscal year ended October 31, 2007. EXAMPLE - Class A, B, C This Example is intended to help you compare the cost of investing in the Fund’s Class A Shares, Class B shares and Class C Shares with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund’s Class A Shares, Class B Shares and Class C Shares for the time periods indicated and then redeem all of your Shares at the end of those periods. Expenses assuming no redemption are also shown. The Example also assumes that your investment has a 5% return each year and that the Fund’s Class A Shares, Class B Shares and Class C Shares operating expenses are before anticipated reductions as shown in the table and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: Expenses assuming redemption Share Class Class A Class B Class C 1 Year 675.0000000000 757.0000000000 305.0000000000 3 Years 939.0000000000 1040.0000000000 634.0000000000 5 Years 1224.0000000000 1298.0000000000 1088.0000000000 10 Years 2032.0000000000 2179.0000000000 2348.0000000000 Expenses assuming no redemption Share Class Class A Class B Class C 1 Year 675.0000000000 207.0000000000 205.0000000000 3 Years 939.0000000000 640.0000000000 634.0000000000 5 Years 1224.0000000000 1098.0000000000 1088.0000000000 10 Years 2032.0000000000 2179.0000000000 2348.0000000000 2008-08-04 2008-08-04 Users of the data in the following exhibits are advised that, pursuant to the rules and regulations governing the voluntary filing of XBRL tagged disclosure, these exhibits are not the official publicly filed disclosure of Federated Capital Appreciation Fund. The purpose of submitting these XBRL tagged exhibits is to test the related format and technology and, as a result, investors should not rely on this information in making investment decisions. EX-100.SCH 3 fedtdrrt.xsd XBRL TAXONOMY EXTENSION SCHEMA EX-100.DEF 4 fedtdrrt-definition.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-100.LAB 5 fedtdrrt-label.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE -----END PRIVACY-ENHANCED MESSAGE-----