Federated Investors Inc. has reached an agreement to reorganize the portfolios of EquiTrust Series Fund Inc. and EquiTrust Variable Insurance Series Fund into comparable mutual funds managed by Federated. The EquiTrust Mutual Funds, currently managed by FBL Financial Group Inc. affiliate EquiTrust Investment Management Services Inc., consist of approximately $515 million in equity, fixed-income and money market assets. As a part of the transaction, the portfolios of EquiTrust Series Fund Inc. and EquiTrust Variable Insurance Series Fund will be transitioned into existing Federated mutual funds with similar investment objectives. The financial terms of the agreement were not disclosed.