Partnerships for Expanded Distribution
Firm Aims to Increase Distribution of Investment Products and Services Through
Third-Party Distribution Channels
MINNEAPOLIS, Oct. 10 /PRNewswire-FirstCall/ -- U.S. Bancorp Asset
Management today announced that Dale Kurtz has been named as the firm's new
key accounts manager for U.S. Bancorp Asset Management and First American
Funds. Kurtz will focus on establishing strategic asset-management
relationships to increase distribution of the firm's investment products and
services through third-party channels.
Under Dale's leadership, we have strategic plans to expand our sales
efforts outside our successful internal sales channels, explained Senior
Managing Director John Gibas.
Dale's appointment underscores our drive to
expand and broaden our distribution capabilities through strategic, third-
party partnerships. Third-party channels will include broker-dealer
relationships; bank and insurance company 401(K) plans; insurance company
variable annuity platforms; institutions sponsoring
fund of funds and
wrapped-fee products; and trust companies and asset managers focused on the
high-net-worth marketplace, Gibas said.
Kurtz has more than 20 years of experience in financial-services sales and
marketing. Most recently, he served as managing director for product
distribution at Jundt Funds/Jundt Alternative Investments in Minneapolis.
Prior to that, he was vice president of product marketing at American Express
Financial Corp. in Minneapolis and vice president of financial advisory
services at Delaware Investments in Philadelphia. Kurtz has an M.B.A. degree
from the University of St. Thomas in St. Paul, Minn., and a B.S. degree from
St. John's University in Collegeville, Minn.
I'm excited about the opportunity to develop strategic partnerships that
will expand the distribution capabilities of one of the country's leading
asset-management firms and fund families, Kurtz said.
The firm's goal of
superior long-term performance should make it an attractive strategic partner
for many investment concerns.
About U.S. Bancorp Asset Management
With $116.9 billion* in assets under management, U.S. Bancorp Asset
Management is the 42nd largest asset manager in the world and one of the
nation's leading money managers to institutions and individuals. The firm
provides portfolio management to corporations, public entities, nonprofit and
other institutions, as well as advising the First American family of mutual
funds and providing customized portfolio management for private clients.
* Total assets listed as of June 30, 2002
Based in Minneapolis, U.S. Bancorp Asset Management, Inc., is a subsidiary
of U.S. Bank National Association. It provides investment management services
to individuals and institutions -- including corporations, nonprofit
organizations, public entities and labor unions -- which had combined assets
under management of $116.9 billion as of June 30, 2002. The firm has offices
in Minneapolis, Milwaukee, Madison, Cincinnati, St. Louis, Portland, Seattle
U.S. Bancorp Asset Management, Inc., a subsidiary of U.S. Bank National
U.S. Bank), serves as the investment advisor to the First
American Funds. U.S. Bank 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 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.
First American Funds are distributed by Quasar Distributors, LLC, an
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.
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SOURCE U.S. Bancorp Asset Management, Inc.
/CONTACT: Cheryl Stone, Public Relations Manager of U.S. Bancorp Asset
/Web site: http://www.firstamericanfunds.com /
CO: U.S. Bancorp Asset Management, Inc.; First American Funds
IN: FIN MFD
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5031 10/10/2002 06:01 EDT http://www.prnewswire.com