Seven Funds Recognized for 'Consistent Return' and Nine Funds Recognized For
MINNEAPOLIS, June 12 /PRNewswire-FirstCall/ -- From micro cap to large
cap, corporate bond to municipal bond, 16 First American Funds from a wide
range of asset classes were recently designated as
Lipper Leaders by Lipper
Analytical Services. Seven of the funds were designated as leaders in
consistent return category and nine as leaders in Lipper's
preservation category for the three years ended April 30, 2002, according to
U.S. Bancorp Asset Management, Inc., asset manager for First American Funds.
(Refer to the funds' one- and five-year returns below.)
The breadth of products represented in the 'Lipper Leaders' categories
underlines our commitment to leading performance across all asset classes of
our fund family, said Chief Investment Officer Mark Jordahl. First American
Funds include 51 funds* totaling $55 billion in assets under management as of
March 31, 2002.
Consistent Return Leaders
Seven First American funds were designated as
Lipper Leaders for
consistent return -- the Micro Cap (Class A,B,Y), Mid Cap Core (Class
A,B,Y), Minnesota Tax Free (Class A,Y), Oregon Intermediate Tax Free (Class
Y), Tax Free (Class Y), Colorado Intermediate Tax Free (Class A,Y) and Large
Cap Core (Class A,B,Y). These are funds that
have provided superior
consistency and risk-adjusted returns relative to other funds within the same
Lipper classification, according to Lipper's Web site at
Funds were compared in their asset classes and peer groups on the
consistency of their performance trend and return adjusted for historical
U.S. Bancorp Asset Management, Inc., serves as the investment advisor to
First American Funds. U.S. Bank National Association is a separate entity and
wholly owned subsidiary of U.S. Bancorp (NYSE: USB), the eighth-largest
financial services holding company in the United States and a leading provider
of comprehensive banking, trust, investment and payment systems products and
services. U.S. Bancorp is the parent company of U.S. Bank.
For a prospectus containing more complete information on First American
Funds, including investment policies, fees and expenses, please contact your
investment professional, call First American Funds investor services at
1-800-677-FUND, or visit us on the web at http://www.firstamericanfunds.com .
Please read the prospectus carefully before you invest or send money.
Mutual fund investing involves risk; principal loss is possible. Past
performance is no guarantee of future results. The principal value and
investment return of an investment will fluctuate so that an investor's
shares, when redeemed, may be worth more or less than their original cost.
Net asset value (NAV) total returns do not reflect deduction of the fund's
sales charges. Public offering price (POP) is based on the price at which
shares are offered to the public and reflect the fund's NAV as increased by
the maximum sales charge for purchases. Total returns for Class A (POP)
shares reflect maximum sales charge of 5.50% for all equity funds, 4.25% for
Tax Free bond funds, 2.25% for Intermediate Term Bond, Short Term Bond, and
Intermediate Tax Free bond funds. Class A (POP) shares reflect 0% sales
charge for all Money Market funds. Class B shares have a maximum contingent
deferred sales charge of 5.00%. Total returns for Class B (POP) shares assume
redemption at the end of each period, with a payment of any applicable
contingent deferred sales charge. Total returns for Class C (POP) reflect
maximum sales charge of 1.00% and a maximum contingent deferred sales charge
of 1.00%. Class Y shares are available to certain accounts for which
qualifying institutions act in a fiduciary, agency or custodial capacity.
Class Y shares are sold without a sales charge or distribution fee.
Investment performance assumes reinvestment of dividends and capital gains and
reflects voluntary fee waivers in effect. In the absence of such waivers,
total returns would be reduced.
First American Funds are distributed by Quasar Distributors, LLC, an
Under no circumstances does information about Lipper rankings constitute a
recommendation to buy or sell mutual funds. Lipper Analytical Services, Inc.,
rankings are based on fund total returns for periods shown. Rankings do not
take into account sales charges. Lipper Leader ratings copyright 2002,
Reuters, All Rights Reserved.
Not FDIC Insured. No Bank Guarantee. May Lose Value.
Investment products, including shares of mutual funds, are not obligations
of, or guaranteed by, any bank, including U.S. Bank 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.
*First American Funds include four small-cap funds; three mid-cap; three
large-cap; two international; three sector (health sciences, real estate,
technology); three index; two growth and income; four asset allocation; eight
bond; 13 tax-free bond; and six money-market funds.
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SOURCE First American Funds
/CONTACT: Cheryl Stone, Public Relations Manager of U.S. Bancorp Asset
/Web site: http://www.lipperleaders.com /
/Web site: http://www.firstamericanfunds.com /
CO: First American Funds; Lipper Analytical Services; U.S. Bancorp Asset
IN: FIN MFD
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7604 06/12/2002 06:01 EDT http://www.prnewswire.com