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U.S. Bancorp Asset Management, Inc. Announces Financial Positions for Closed-End Funds

MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bancorp Asset Management, Inc. (NYSE:USB) today announced the financial positions for the following closed-end funds for the month ended August 31, 2014.

 

Net investment income and distribution information for the month ended August 31, 2014:

 
                    Accumulated
Monthly Monthly Net Undistributed
Common Preferred Investment Net Investment
Stock Stock Income/ Income/
Fund     Symbol     Distributions (a)     Distributions (b)     Share (c)     Share (d)
American Municipal Income Portfolio XAA $0.0800 $0.0072 $0.0804 $0.1331
Minnesota Municipal Income Portfolio MXA $0.0715 $0.0074 $0.0725 $0.0990
Minnesota Municipal Income Fund II MXN $0.0600 $0.0105 $0.0598 $0.0733
 

N/A = Not Applicable

 
 

Financial positions for the month ended August 31, 2014:

 
        Total Assets     Net Assets (e)     NAV (1) per
Fund     Symbol     (000)     (000)     Common Share
American Municipal Income Portfolio XAA $133,275 $89,579 $15.56
Minnesota Municipal Income Portfolio MXA $96,936 $64,971 $15.67
Minnesota Municipal Income Fund II MXN $35,667 $22,279 $15.13
 
 

Financial positions for the month ended August 31, 2013:

 
        Total Assets     Net Assets (e)     NAV (1) per
Fund     Symbol     (000)     (000)     Common Share
American Municipal Income Portfolio XAA $122,313 $78,685 $13.67
Minnesota Municipal Income Portfolio MXA $90,306 $59,100 $14.25
Minnesota Municipal Income Fund II MXN $32,924 $19,817 $13.46
 
 

Financial positions for the month ended August 31, 2012:

 
        Total Assets     Net Assets (e)     NAV (1) per
Fund     Symbol     (000)     (000)     Common Share
American Municipal Income Portfolio XAA $134,728 $90,721 $15.76
Minnesota Municipal Income Portfolio MXA $99,183 $67,041 $16.17
Minnesota Municipal Income Fund II MXN $36,959 $23,320 $15.84
 

(1) NAVs are priced as of the close of business on the month-end and year as indicated above.

 

(a) These distributions were declared on July 18, 2014, had an ex-dividend date of August 1, 2014, and were paid on August 20, 2014 to shareholders of record on August 5, 2014.

(b) Calculated by dividing preferred distributions paid during the month by the number of common shares outstanding.

(c) Based on a three-month average.

(d) Accumulated undistributed net investment income is reflected in a fund's net asset value. Any reduction of this amount will reduce net asset value penny-for-penny.

(e) The difference between net assets and total assets is primarily due to the issuance of preferred stock; net assets reflect common stock only.

The aforementioned financial data is unaudited. It has, however, been obtained from sources deemed reliable.

Distributions are payable in cash or, pursuant to the funds’ dividend reinvestment plans, reinvested in additional shares of the funds’ common stock. Under each fund’s plan, fund shares will be purchased on the exchange on which the fund is listed or elsewhere on the open market.

Minneapolis-based U.S. Bancorp Asset Management, Inc. serves as investment advisor to the First American Closed-End Funds. A subsidiary of U.S. Bank National Association, U.S. Bancorp Asset Management focuses on providing investment management services to institutional clients, including corporations, public entities and nonprofits. It has combined assets under management of more than $51 billion as of August 31, 2014. First American Closed-End Funds are subadvised by Nuveen Fund Advisors, Inc. and Nuveen Asset Management, LLC.

Investment products, including shares of closed-end funds, are not obligations of, or guaranteed by, any bank, including U.S. Bank National Association or any U.S. Bancorp affiliate, nor are they insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency. An investment in such products involves investment risk, including possible loss of principal.

U.S. Bank National Association is a separate entity and wholly owned subsidiary of U.S. Bancorp, the fifth-largest commercial bank in the United States, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

Source: U.S. Bancorp Asset Management, Inc.

U.S. Bancorp Asset Management, Inc.
Investor Services, 800-677-3863

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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